RSSCompany News

Sources: Doublestar preferred Kumho Tire bidder

Sources: Doublestar preferred Kumho Tire bidder

Monday 16th January 2017 | 0 Comments

Using information received from industry sources, the Yonhap News Agency reported today that Kumho Tire’s creditors are expected to select Doublestar Tyre as the preferred bidder for the 42.01 per cent share in the Korean tyre maker. Yonhap wrote that Doublestar “received the highest score in the evaluation of price offer and other terms” in the round of bidding that closed last week. Doublestar is said to have submitted a bid of around Krw 1 trillion (£692.9 million).

Continue Reading

Consumer trends influence the automotive sector

Monday 16th January 2017 | 0 Comments

Recent research suggests ever-rising expectations, social influence, and retailers striving to engage consumers with attractive offers, continue to sway customers. Such influence has not escaped the motor industry and recent years have seen major changes in the way consumers purchase a vehicle.

Continue Reading

STARCO investing in plants in UK, Croatia

Monday 16th January 2017 | 0 Comments

Around €150,000 (£131,000) is being invested in STARCO’s tyre and wheel production facility in Crewe as part of a €2.5 million project to strengthen manufacturing capabilities in Europe. The Danish company’s site in the UK will receive new equipment that will automate the polymer wheel and puncture-proof polyurethane tyre production that takes place there. A STARCO representative told Tyrepress.com the installation of this new machinery will lift capacity and will also facilitate the development of new designs that ensure the plant’s continued competitiveness.

Continue Reading

APP-Tech now a Ronal Group company

APP-Tech now a Ronal Group company

Monday 16th January 2017 | 0 Comments

The Ronal Group has announced its acquisition of Italian firm APP-Tech Srl at the end of last year and says this will help it meet growing customer demand for forged wheels. APP-Tech specialises in these products and sells the rims manufactured at its plant near Padua in northern Italy to vehicle manufacturers, high end aftermarket suppliers and motorsport teams. The company will continue to operate on an independent basis under the management of Francesca De Boni, and all APP-Tech staff will remain in employment.

Continue Reading

Sales up 45% in 2016 – Rosava

Monday 16th January 2017 | 0 Comments

Rosava reports selling 3.9 million tyres last year, a 45 per cent year-on-year increase on 2015. The Ukrainian tyre maker says the greatest rate of growth was witnessed in the agricultural tyre segment, where sales were up 57.6 per cent compared with 2015. Car tyre sales rose 47.3 per cent year-on-year, while sales of light commercial vehicle and truck tyres increased by 25 per cent and 17 per cent respectively.

Continue Reading

Titan International board becomes NACD Full Board Member

Monday 16th January 2017 | 0 Comments

Titan International reports that its board recently became a Full Board Member of the National Association of Corporate Directors (NACD), a non-profit membership organisation for corporate board members,

Continue Reading

Goodyear declares common stock dividend

Monday 16th January 2017 | 0 Comments

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.10 per share of common stock. The dividend is payable 1 March 2017, to shareholders of record on 1 February, 2017. The payout represents an annual rate of 40 cents per share.

Continue Reading

Black Donuts to consult on Philippines rubber project

Friday 13th January 2017 | 0 Comments

A 50 hectare rubber plantation and processing plant will be established on the Philippines island of Mindanao at a reported investment cost of US$200 million, and Finnish firm Black Donuts Engineering Inc. will serve as a consultant for coordinating the project.

Continue Reading

Preferred Kumho Tire bid to be chosen next week

Friday 13th January 2017 | 0 Comments

Final bids to acquire a 42.01 per cent shareholding in Kumho Tire are in, and Credit Cuisse, who has managed the deal, has requested additional time in order to review the bidders’ documents. Pulse, Maeil Business Newspaper’s English-language website, posits that the preferred bidder will be picked between 16 and 18 January, and the terms then sent to Kumho Asiana chairman Park Sam-koo.

Continue Reading

New Marangoni partner in Spain

New Marangoni partner in Spain

Friday 13th January 2017 | 0 Comments

Marangoni Retreading Systems has expanded its business in Spain through a new partnership with regional retreader Recauchutados Fidel. The company, which has been in the business since 1982 and operates a retreading plant and three dealers in Salamanca province, has selected Marangoni products and technology for its customers.

Continue Reading

New factory: MRF signs agreement with regional government

Friday 13th January 2017 | 0 Comments

News of MRF Ltd.’s plan to set up a new factory in India’s Gujarat state first circulated towards the end of 2015, and now the tyre maker reports signing a Memorandum of Understanding with the state government that sets out its in-principle intention to erect a manufacturing facility there.

Continue Reading

Michelin funds support campervan rental site

Michelin funds support campervan rental site

Friday 13th January 2017 | 0 Comments

Michelin has invested in the motorhome rental start-up Campanda, which was founded in Germany in 2013 and offers campervan hire to British holidaymakers through the campanda.co.uk portal. Through its Michelin Travel Partner subsidiary, the tyre maker is the primary investor in a second round of funding that also saw existing Campanda investors increase their financial involvement.

Continue Reading

BKT wins port tyre manufacturing award

BKT wins port tyre manufacturing award

Friday 13th January 2017 | 0 Comments

The award of ‘Port Tyre Manufacturer of the Year’ at the recent Terminal Operator Excellence Awards 2016 in Dubai went to Balkrishna Industries Ltd. (BKT).

Continue Reading

Toyo Tire expanding R&D capabilities at US plant site

Toyo Tire expanding R&D capabilities at US plant site

Thursday 12th January 2017 | 0 Comments

Throughout the course of this year, Toyo Tire & Rubber’s manufacturing operation in North America will expand its research and development capabilities in order to expedite the development of both original equipment and replacement market tyres. The company has not disclosed the level of investment being made in the Toyo Tire North America Manufacturing facility, however it will result in a 50 per cent increase in the size of the research and development team.

Continue Reading

Continental to cut ties with Pakistan’s General Tyre and Rubber

Wednesday 11th January 2017 | 0 Comments

Continental intends to divest its shareholding in General Tyre and Rubber Company of Pakistan Ltd. The company owns a 9.78 per cent share in Pakistan’s largest tyre maker through Continental Global Holding Netherlands B.V., and according a notification sent by General Tyre and Rubber to the Pakistan Stock Exchange, Continental Global Holding Netherlands intends to sell its entire shareholding “as soon as practically and economically feasible.”

Continue Reading