Company News

Apollo Tyres maintains turnover, increases profits

In the three months to 31 December 2015 – the third quarter of its 2015-16 financial year – Apollo Tyres achieved sales of Rs 29.29 billion (£298.0 million), 3.7 per cent less than a year earlier. Third quarter EBITDA stood at Rs 5.12 billion (£52.1 million), up 2.0 per cent year-on-year, while net profit rose 51.6 per cent to at Rs 2.79 billion (£28.4 million).

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UK News

Micheldever launches 4site4x4tyres.co.uk

Micheldever launches 4site4x4tyres.co.uk

Micheldever Tyre Services has launched 4site4x4tyres.co.uk - a new website designed to help the firm’s customers sell more 4x4 tyres as well as provide expert advice and guidance to 4x4 and SUV owners. The site follows in the footsteps of Micheldever’s successful TyreClick venture, which in many ways is the passenger car orientated equivalent. However, company representatives told Tyres & Accessories that the 4x4/SUV tyre sector demanded a greater emphasis on quality impartial technical advice.

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International News

New Speedline Truck website

New Speedline Truck website

Speedline Truck has launched a completely new online image at speedline-truck.com. According to the company, the firm has done its homework and the new website combines “everything the discerning Internet user could possibly want”. This includes “a high degree of brand recognition thanks to the fresh new look; user-friendly, intuitive navigation and a clear arrangement of the entire line of wheels and accessories”. There is also a quick access option and simple wheel selection by way of detailed filter functions.

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Retreading News

Marix retreads are “extremely competitive” against low-cost imports, says Marangoni

Marix retreads are “extremely competitive” against low-cost imports, says Marangoni

Europe’s retreaders face an ongoing battle against imports of low-priced new commercial vehicle tyres from China, and even well-known names such as Marangoni are not immune from the strain this puts upon turnover and margins. However the Marangoni Group states that it believes in both retreading and in the company’s own future growth, and has undertaken a number of measures to strengthen its position.

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Career Tracks

Francesco Gori now an Apollo Tyres director

At its Board of Directors meeting on 9 February, Apollo Tyres Ltd confirmed the appointment of Francesco Gori as an additional, non-independent company director. Mr Gori, who served as chief executive officer of Pirelli Tyre between 2006 and 2012, joined Apollo Tyres as advisor for strategy in October 2015. Vinod Rai, the former comptroller and auditor general of India, was also appointed an additional, independent director of Apollo Tyres during the meeting, and approval was given for a change in Robert Steinmetz’s directorship status.

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Comment

Conditions ripe for European trade barriers?

Conditions ripe for European trade barriers?

New year, new trends It seems a bit pessimistic to start 2016 with a reference to recession. Nevertheless, when Bank of England deputy governor Minouche Shafik suggested the UK tyre industry is in the grip of recession-based consumer behaviour at the end of 2015 she highlighted an important point. The market is encountering different purchasing […]

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