Corporate News
US Bridgestone capacity increases will not include aircraft tyres
Bridgestone Americas has clarified that its capacity expansion plans in the USA will not include increased aircraft tyre manufacturing facilities, contrary to reports published on Bloomberg last week. The misunderstanding was a result of the inclusion of aircraft radials in the company’s portfolio of strategic products, published in the corporation’s mid-term management plan on 21 October.
Interstate reports double digit growth
Interstate Tire & Rubber Co. has announced third quarter results reportedly showing double digit growth “across all markets.” According to the company’s official statement on the matter, the business performed strongly in “Europe, CIS states and Asia.”
Bridgestone details spending with aircraft, mining expansion plans
Bridgestone has followed up its September “major strategic investment” announcement, detailing the $1.2 billion it will spend on OTR production facilities in North Carolina, with more details that suggest record spending levels to meet rising demand in emerging markets. The corporation released its Mid-term Management Plan 2011, covering the period 2012-2016 in which it set a target of a 6 per cent return on assets next year. The plan detailed...
Cooper issues 159th consecutive quarterly dividend
Cooper Tire & Rubber Company has announced it will once again issue a quarterly dividend. This time the US-based tyre manufacturer is offering 10.5 cents per share on common stock, payable 30 December 2011, to stockholders of record at the close of business 2 December 2011. This will mark the 159th consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Pirelli announces Canadian tyre price increase
Pirelli has announced that it will raise prices for car and light truck tyres in Canada shortly. The increases, which comes in the context of a string of price increases around the world, will be effective from 1 December 2011.
Hankook reports record sales in third quarter
Hankook Tire reported third quarter 2011 global sales of 1.69 trillion won a 23 per cent increase from the same period last year. The tyremaker’s third quarter operating profit came in a 129.9 billion won.
Illinois developer buys former Cooper plant
The shuttered Cooper Tire & Rubber Co. tyre plant in Albany, Georgia, has been sold to an Illinois developer, according to Tire Review. No details of how much was paid have yet been released.
Gajah Tunggal accused of covenant breach, Moody’s considering rating downgrade
Moody's Investors Service has placed PT Gajah Tunggal Tbk's B3 corporate family and senior secured ratings on review for possible downgrade. According to a report published in Indonesia Today, this review action follows “the payment of a dividend to shareholders seemingly in contravention of the covenants of its restructured bonds launched in June 2009, and the resulting alleged claim of covenant breach by an anonymous bondholder.”
Continental to focus investment on Asian markets
Continental AG plans to focus its near-term investments on the Asian markets, according to board member Heinz-Gerhard Wente. In a Bloomberg report, Wente noted that sales in Asia will likely represent a third of the corporation’s total revenues.
“While Europe will remain the biggest market for Continental, next year might ‘bring some problems’ because of a possible economic slowdown triggered by the sovereign-debt crisis,” the...
Venture provided £37.5 million for Unipart deal
Venture Finance provided a funding line of £37.5 million to finance H2 Equity Partner’s recent acquisition of a controlling stake in Unipart Automotive. And what’s more there is said to be “increased appetite for structured private equity deals.”
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Market view: MTS/Southam on 4x4 tyres
Micheldever Tyre Services distributed in excess of 800,000 4x4 tyres in the UK tyre market in 2011, especially through its Southam division which has a history specialising in the 4x4 sector. According to the company, this makes Southam “probably... -
Nokian Rotiiva AT summer tyre for SUVs
Nokian has introduced its new Rotiiva AT (All Terrain) summer tyre for SUVs into its core European markets. The tyre, says Nokian is excellent on asphalt or gravel, but also performs well in lighter off-road conditions. The sturdy structure and... -
Delphi talks technology with Tyres & Accessories
At the start of 2012 Tyres & Accessories contacted leading automotive and aftermarket supplier Delphi with a view to getting this firm’s perspective on the increasingly important diagnostics side of the garage work. Paul Chaundy, service... -
CLAAS awards Mitas for innovations
In January Claas awarded tyre maker Mitas with the Claas Supplier of the Year Award 2011 for Innovation for Mitas’ CHO tyre. “Mitas won the award from among 900 serial part suppliers,” said Jens Steinhardt, Mitas’ key account manager. Bosch... -
Micheldever launches General Tire Eurovan 2
Micheldever/Southam Tyres has added the new General Eurovan 2 to the General Tire product range. This means the new van range covers 88 per cent of the UK van sector. According to the company, the new Eurovan 2 is optimised to European road conditions... -
Hankook donates tyres to African Charity Project
Hankook Tyre UK recently supplied 12 all-terrain Dynapro MT RT03 tyres which were fitted to two Land Rover Defenders in support of the Bhubesi Pride Project. The Bhubesi Pride Project is part of an initiative which involves a team of qualified... -
January motorcycle sales up 6.3%
The latest new motorcycle and scooter figures show sales overall were up 6.3 per cent compared with January 2011. Under 50cc scooter sales were up 1.3 per cent in January, while over 50cc motorcycle sales increased 7.4 per cent. -
Bandvulc Key Dealer Conference discusses plans for 2012
The Bandvulc Group recently held its annual BTC Key Service Partner Conference at its head office in Ivybridge, Devon, some four years since it was last been used as the venue. According to the company, the event was very well attended with the key... -
Heuver to market Aeolus passenger car tyres in Europe
In 2012 Aeolus Tyres will enter the European passenger car tyre market in partnership with Netherlands-based Heuver Tyrewholesale. Although Aeolus will be entering the passenger car market for the first time, the company reports that it was certainly... -
Infinity promotes 2012 marketing strategy
Infinity has announced plans to expand and customise its DNA campaign to fit the national markets where it operates. The company describes its new campaign as featuring “iconic monuments re-interpreted using an Infinity Tyre.” In addition Infinity...
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Michelin claims strategic validation in 2011 financial report
Michelin announced its full financial year report for 2011 today, its board claiming a vindication of its strategy in the process. The company produced “extraordinary results” according to chief financial officer Marc Henry, who presented the... -
Parts Alliance calls for support of automotive training
Automotive business group, The Parts Alliance used the event of National Apprentice Week (6-13 February) to call for the UK automotive aftermarket to increase its support of training and apprenticeships. “The best investment our industry can commit... -
Global growth an ongoing objective at Treadsetters
With current trading partnerships in over 30 countries around the world, Telford-based Treadsetters has established a niche for itself as an international business service provider and wholesaler of tyres and steel wheels. The company bases its... -
Michelin’s Rollier to retire mid-year
In February 2011 Michel Rollier announced he didn’t intend to complete his current term of office as managing general partner and chairman of Michelin, as he would be 72 years old when his tenure ended. Rollier, now 67, has decided to retire from... -
Pirelli supports Mercedes-Benz Driving Academy
With impeccable timing during the current cold snap, Pirelli and the Mercedes-Benz Driving Academy have got together to help learner drivers become more aware of the risks of hazardous driving conditions. Pirelli has supplied the Mercedes-Benz... -
A growing manufacturer in a growing market - Pirelli's truck business
Ugo Forner, senior vice president of Pirelli’s truck business unit, shares an insight into a sector of the world’s fifth largest tyre maker that is sometimes concealed in the shadow of the company’s sporting ambitions (such as Formula 1) and its... -
MOT decision positive for motorists, says HiQ
The HiQ fast fit chain has applauded the Government’s decision to back down on plans to change MOT test frequency – a measure it said would “hit the pockets of motorists harder than ever.” HiQ says Transport Secretary Justine Greening’s... -
Trelleborg prepares for JV with organisational changes
Swedish company Trelleborg has announced a number of organisational changes in preparation for the start of a light and heavy vehicle anti-vibration solutions joint venture with Germany’s Freudenberg & Co. KG. Trelleborg says the changes will... -
Nokian profit up 82% in 2011
Despite the biting chill of the Finnish winter, the team at Nokian Tyres has surely been warmed by the company’s performance results for the 2011 financial year, which were released on 8 February. During the twelve month period group net sales rose... -
ANRPC: 2011 production up 6.4%
The Association of Natural Rubber Producing Countries (ANRPC) reports that Q1 2012 Production Growth is expected to marginally increase by 0.3 per cent. During 2011ANRPC's total production rose 6.7 per cent to 10.127 million tons, faster than the...
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Stamford’s Firenza continues to develop light commercial size range
Now well established in the UK and European market sectors, the Firenza SV053 light truck and van tyre, manufactured by Singapore based Stamford Tyre International, offers a pattern designed using Japanese technology, the company says. Rob Henderson,... -
Sailun’s Commercio light commercial pattern “well received” in Europe
Sailun’s specialist light truck and commercial tyre pattern is called the Commercio – available in 16 sizes, the range is available through Sailun’s expanding European distributor network. The company’s European managing director, Martin West... -
Michelin claims strategic validation in 2011 financial report
Michelin announced its full financial year report for 2011 today, its board claiming a vindication of its strategy in the process. The company produced “extraordinary results” according to chief financial officer Marc Henry, who presented the... -
Avon deploys new tyre for British GT Championship
The Avon brand, manufactured by Cooper Tire & Rubber Company Europe Ltd, has unveiled the fourth generation of its GT racing tyre since it took over as sole supplier and title sponsor of the series in 2006. Avon Tyres Motorsport technical manager,... -
Market view: MTS/Southam on 4x4 tyres
Micheldever Tyre Services distributed in excess of 800,000 4x4 tyres in the UK tyre market in 2011, especially through its Southam division which has a history specialising in the 4x4 sector. According to the company, this makes Southam “probably... -
Parts Alliance calls for support of automotive training
Automotive business group, The Parts Alliance used the event of National Apprentice Week (6-13 February) to call for the UK automotive aftermarket to increase its support of training and apprenticeships. “The best investment our industry can commit... -
Alcoa sales manager UK and Ireland sales manager
Alcoa Wheel Products has appointed a new UK and Ireland sales manager. According to the company, new recruit Chris Edwards brings 15 years of experience in the transport and automotive industry. -
Global growth an ongoing objective at Treadsetters
With current trading partnerships in over 30 countries around the world, Telford-based Treadsetters has established a niche for itself as an international business service provider and wholesaler of tyres and steel wheels. The company bases its... -
Petrol sales plummet 1 billion less barrels sold in 2011
Petrol sales fell significantly during the first three quarters of 2011, according to research conducted by motoring association the AA. And this was no drip drip. On the contrary the AA figures suggest that motorists bought 2.4 billion fewer litres... -
Sonoco appoints former Michelin man
Global packaging company Sonoco has elected former Michelin North America president and chairman James M. Micali its independent lead director. Amongst other duties, in his new role Micali will preside at executive sessions of the company’s...
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Report: Cheng Shin, Kenda earnings to grow fast in 1Q 2012
Taiwan-based tyre makers including Cheng Shin Rubber Ind. Co. and Kenda Rubber Industrial Co., are expected to see substantial growth in earnings in the first quarter of 2012 due to declines in raw material prices, particularly natural rubber. Furthermore, according to Taiwan Economic News, the European sovereign debt crisis means tyre manufacturers have slashed inventories to get rid of the risk in the prices of stocked goods. -
Hankook establishes new subsidiary in Poland
Hankook Tire has established an additional subsidiary in Europe. The opening of the company’s Polish branch in Warsaw is in keeping with the growing demand for Hankook tyres in the European markets. “Thanks to our new subsidiary in Poland we are now also able to provide full service to our partners and customers in the 6th largest tyre market in the European Union. This is in-line with Hankook’s strategy of close market and customer... -
New trade deal will aid US doing tyre business with South Korea
TIA says that the renewed free trade deal with South Korea is a good deal for the U.S. tyre market. President Obama signed the renewal of the U.S. Generalized System of Preferences (GSP), which was part of a trade pact originally agreed to between the U.S. and South Korea in 2007 – Korean-United States Free Trade Agreement. -
Tyre hijackers arrested
The Malay Mail reports that four armed intruders forced their way into a used-tyre factory in the township of Bandar Bukit Puchong, Malaysia, overpowering a security guard, who was bound and gagged, before driving off with a trailer loaded with 319 tyres. -
Pakistani tyre maker still under pressure from ‘smuggling’
Years of under-invoicing and rampant cross-border smuggling are still putting pressure on domestic tyre suppliers in Pakistan. So what’s the solution? Raid tyre markets in big cities instead of trying to stop smuggling along the long Pakistan-Afghanistan border, says General Tyre Pakistan chief executive Mohammad Shahid Hussain. -
Michelin extends with Ceva in Thailand
Michelin Thailand has renewed its logistics contract with Ceva for three years, to handle inbound tyres from Michelin’s production plants into warehouse facilities in three main locations across Thailand; Laemchabang, Nongkea and Nongree. -
Bulgarian police target pothole tyre puncturers
Bulgarian traffic police are making renewed efforts to tackle the reckless puncturing of tyres caused by criminals placing spikes in potholes. Police sources said that the recent examples have been deliberated set up to cause rapid deflations or blow-outs. According to the Sofia news agency, which cited private TV channel bTV, the tip-off to this crime was given by a Polish family, who complained to traffic authorities after narrowly escaping a... -
Cooper refuses comment on Trayal investment reports
Cooper has refused to comment on multiple Serbian news reports quoting Serbian finance secretary Miodrag Djidic as saying that Cooper Tire is interested in acquiring Trayal’s automobile tyre plant. When questioned on the subject, a Cooper Tire Europe spokesperson told Tyres & Accessories that’ the company’s “corporate policy is not to comment on rumour or speculation.” -
Pakistan sales champion Panther aiming to improve exports
Under the leadership of Mian Iftikhar Ahmed, the dedicated team Mian Tyre & Rubber Company Limited (MTRCL), which sells the Panther brand of tyres, has won the Pakistan export trophy for the last eight consecutive years. Now, the flagship business of Iftikhar Group of Companies, a leading tyre and tube manufacturing group in Pakistan is aiming to increase exports still further. According to the company, the Panther trade name has developed a... -
Bridgestone to invest in Costa Rica production and services
Two planned investments will increase Bridgestone’s presence in Costa Rica: The local subsidiary of Bridgestone Americas Tire Operations (BATO), Bridgestone de Costa Rica, has announced the company’s new Financial Shared Services Center for the Latin American Region is to be located in the Central American country. Bridgestone also confirmed it will invest US$70 million in its La Ribera de Belen tyre factory in Heredia province over the next...
QUESTION OF THE MONTH
Is the European tyre market ready for tyre labelling when it is introduced in November 2012?
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