Speaking off the record, Chinese executives within Qingdao Doublestar have confirmed the company’s intentions to purchase well-known South Korean tyre manufacturer Kumho Tyre and that it is “now only Doublestar left to buy Kumho”. However, at roughly the same time, Korean newspapers have been reporting that Doublestar probably won’t have the right to use the Kumho brand name post-acquisition. With all this in mind, Tyres & Accessories summaries the story so far.
Three days, four hours and 54 minutes – this is the time Rainer Zietlow and his team took to drive their Goodyear-shod Volkswagen Amarok V6 TDI from Dakar to Moscow. Zietlow, together with Russian blogger Peter Bakanov and journalist Georgy Gloube, arrived in the Russian capital shortly before 10am on 25 April, having passed through ten countries as they covered 7,995 kilometres (4968 miles) in record time.
The bottom line at China’s Sailun Jinyu Group Co Ltd took a hit in the first quarter of 2017. According to preliminary statistics provided by its financial department, the tyre maker anticipates a net loss attributable to shareholders in the vicinity of RMB 50 million (-£5.65 million). In the same three-month period a year earlier, the company reported a net profit of RMB 95.16 million (£10.76 million).
Guizhou Tyre Co. Ltd. intends to build a truck tyre factory in Vietnam. Chinese industry publication Tireworld writes that the company will invest RMB 1.67 billion (£189.3 million) in the project, which will result in a plant capable of manufacturing 1.2 million all-steel radials per annum. The intention is to set up the factory in the Long Jiang Industrial Park, some 30 miles from Ho Chi Minh City; Tireworld says a 20-hectare site has been selected, with construction commencing in the coming 12 months.
China’s Wanli Tire aims to compete on even terms with the established tyre majors, and the tyre maker has its eye on a spot in the global ‘top ten’. The company’s path to international success will be guided by a new strategy that Wanli Tire general manager, Li Xiaoyun, outlined at Auto Shanghai.
An announcement made by Shandong Linglong Tire at the Auto Shanghai show marks the introduction of a long-established US tyre brand into the Chinese market. At a press conference held on 22 April, company chairman and president Wang Feng welcomed the Atlas brand to China. The launch portfolio consists of seven passenger car and SUV product lines.
Shandong Linglong Tire Co Ltd has reported increased sales and profits for 2016. In its 2016 Annual Report, the Chinese tyre maker declares net sales of RMB 10.5 billion last year (£1.2 billion), a 20.4 per cent increase from 2015 and a record high. Operating income rose 32.3 per cent to RMB 1.1 billion (£124.7 million) and net income was up 49.0 per cent to RMB 1.0 billion (£113.4 million).
The Kal Tire Mining Tire Group has acquired the South African operations of Tyre Corporation. It is hoped that the transaction, which took place for an undisclosed sum, will enable the growth achieved by Tyre Corporation in South Africa over the past decade to continue. It also gives Tyre Corporation’s customers access to Kal Tire services such as its exclusive Ultra Repair process for ultra-class tyres.
Retreading materials supplier is exhibiting at the 20th edition of the Tyres and Rubber Expo, which runs from 24 - 27 April 24 in Moscow, Russia.
Life imitates art? In 2010, Tyrepress.com reported the Cannes Film Festival screening of Rubber, a French dark comedy horror about Robert, a tyre that acquires a taste for killing. Fast forward seven years, and we’ve come across fresh footage – but this time the tyre terror is for real.
To market the launch of the new Wrangler All-Terrain Adventure, Goodyear is supporting Rainer Zietlow in his attempt to drive 5,000 miles from Dakar to Moscow in a world record time of less than four days. The German adventurer and his co-drivers began the world record attempt on Saturday, setting out from the Senegalese capital in a Wrangler-shod Volkswagen Amarok.
German oil specialist Liqui Moly has extended its programme of winter sports sponsorship with the 2017 IIHF Ice Hockey World Championship, held in Germany and France during May. “The World Championship is the last major international winter sports event this season. The nations involved are all very important markets to us,” says Liqui Moly marketing director Peter Baumann.
During the Continental AG press conference at the Auto Shanghai show in China, chief executive officer Dr Elmar Degenhart confirmed that the company intends to continue investing in China “at a comparable level” to recent years. Continental has invested €1.3 billion in the country over the past half a decade. Degenhart also commented that Continental anticipates its sales will grow at a faster rate than the market in China, particularly in the field of mobility services.