Japan's Yokohama Rubber Co. Ltd. (YRC) has announced its decision to close its manufacturing plant located at Hadera, Israel, according to a press release dated Nov. 14. This facility is part of YRC's extensive global network of over 30 manufacturing sites and has been operational for more than 70 years. It will cease operations effective Dec. 31. The decision to close the plant is attributed to the changing dynamics within the tire manufacturing industry, particularly the emergence of South ...

Bandag Europe NV, a subsidiary of Bridgestone, has announced its plans to close its retread production plant in Lanklaar, Belgium, by the first half of 2025, according to a press release dated Sept. 12. The decision was made during an Extraordinary Works Council due to a significant decrease in the European retread market over the last decade, leading to production overcapacity and uncompetitive production costs. The decline, accelerated by a 30% drop in demand and the influx of low-cost East...

Sweden-based SKF, a supplier of rolling bearings, seals, mechatronics and lubrication systems, has announced the transfer of product supply from its factory in Busan, Korea to factories in China, India, and Mexico, according to a press release dated. This move is part of the company's strategy to regionalize its operations and better serve its customers. The Busan factory, which employs approximately 90 employees and primarily manufactures bearing products for the automotive industry, will be...

French tiremaker Michelin has announced that it will be closing three production sites in Germany and transferring its customer service center to Poland, due to a lack of competitiveness of its German operations in European and export markets, according to a press release on Nov. 28. The closure will affect 1,532 jobs by the end of 2025. Michelin currently employs over 8,000 people across Germany, Austria and Switzerland. The company has included an approximately €425 million provision in i...

Sweden-based SKF, a supplier of rolling bearings, seals, mechatronics and lubrication systems, has confirmed the proposed closure of its factory in Luton, UK, following a consultation process with employees and union representatives, according to a press release dated October 17. The move follows the company’s announcement on May 31 of a consolidation of its spherical roller bearing manufacturing as part of its strategy to invest in automation and regionalization, and “right size its manu...