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Nexen Tire Europe has started a trial run of its Czech-based production facility. Reminder: the Korean producer announced its plans to construct a new unit and strengthen its presence in Europe back in 2015. The company invested over €829 million to build the new plant in Zatec. Nexen Tire planned to start it up by 2018 and increase its annual production capacity gradually to over 12 million units afterwards in keeping with the current market conditions. Then, the company postponed the launch until this year.
’The new plant in the Czech Republic is our second manufacturing facility outside Korea, after the one in Qingdao, China. It will serve as significant momentum for the company to make another leap forward,’ Nexen Tire Chairman Kang Byung-Joong has said. ‘I think it will provide a great opportunity to become a top global player among the world’s tyre manufacturers by strengthening our presence in the European market.’
Continental has reported that its Rubber Group increased sales by 3.8% year on year to around €4.4 billion in the first three months of this year.
The Tire division lifted them by 7.4% on an annualised basis to €2,830,500 (PY: €2,635,500 ) then. Sales rose by 3.8% before changes in the scope of consolidation and effects of exchange rates.
The ContiTech division cut sales by 1.8% to €1,572,900 (PY: €1,601,700) in Q1 2019 compared the same period of last year. They lost 3.2% before changes in the scope of consolidation and effects of exchange rates. Air Spring Systems and Industrial Fluid Solutions scaled up year-on-year sales. Conveyor Belt Group reached the same level as it was in the comparative period. Other business units, especially automotive ones, on the contrary, announced a plunge in year-on-year sales.
Pyrolyx AG has signed a non-bidding Letter of Intent (LOI) for a five-year supply with Continental AG. The agreement stipulates that it will build up to 10,000—15,000 t per year of recovered carbon black (rCB) over two years. Pyrolyx will initially supply the goods from its existing plant in Stegelitz, Germany, and the plant in Terre Haute, Indiana, the USA, which is due to be operational in June 2019. This deal requires the development of Pyrolyx’s additional manufacturing capacity in Eastern Europe. After the commissioning of this unit that is scheduled for late 2021, Pyrolyx will satisfy tyre manufacturer’s initial European regional rCB needs owing to this facility. Both parties expect that demand for this product will rise over time, and if it does, it may increase its demand from Pyrolyx beyond the initially stipulated annual tonnage. Michael Triguboff, Pyrolyx AG’s CEO, has noted that the company has already enjoyed a long-term relationship with this international tyre manufacturer, benefiting from a long-term joint development agreement between two firms. Pyrolyx has provided the tyre maker with the commodity from its plant located in Stegelitz, Germany, for about three years. Mr Triguboff has added that both companies will cooperate to finalise a formal binding offtake agreement in the coming months. Pyrolyx is confident that they will conclude a binding supply agreement.
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