Hankook’s second quarter results show that the manufacturer is well-placed to take advantage of the anticipated gradual recovery of replacement markets in the next year and a half. Indeed, the 1.4 per cent increase in revenue growth indicates that the Korean manufacturer is already experiencing some upward momentum, this figure having declined in the previous two quarters. Deutsche Bank analyst Sanjeev Rana commented that the company’s ongoing product mix improvement and falling raw materials costs should combine with the American and European recovery to keep Hankook’s margins “resilient”, while the bank also expects its operating profit to “grow 18 per cent” year-on-year in in the second half of 2013.
A total of 44 employees from Pirelli’s Burton upon Trent and Carlisle factories have been recognised for their ongoing commitment to premium tyre manufacturer Pirelli. Each year, Pirelli holds annual dinners to reward its employees who have worked with the company for a period of either 21, 30 or 40 years.
Leading European performance brakes brand Brembo is continuing to diversify its global strategy in a bid to tackle sales figures that continue to fall in much of its traditionally strong markets. In the first quarter of 2013, the German and, to a lesser extent based on the relatively good performance of its automotive manufacturing, UK markets were the only two to increase sales, while domestic Italian and southern Europe continued to look weak. However, growing sales in the USA and China are prompting global investment, such as the 115 million euro investment the manufacturer recently announced to expand its US and Brazilian operations. And the company has continued to indulge its penchant for spectacle, with involvement in top-level motorsport series, such as MotoGP and Formula One, and Hollywood blockbusters driving its continued premium brand marketing.
Trelleborg has launched a new 710/70 R38 TM800 SugarCane specifically engineered for sugar cane applications. Lorenzo Ciferri, marketing director Agricultural & Forestry Tires at Trelleborg Wheel Systems, said: “The Trelleborg TM800 SugarCane tyre is the result of years of experience and research in sugar cane fields. For example, to cope effectively with sugar cane stubble, the profile of the tyre lug’s base is significantly smoother and more rounded when compared to a conventional tractor tyre.”
Delphi Product & Service Solutions (DPSS) has launched a redesigned online catalogue for 17 European countries. The site allows users to search by vehicle (make, model, etc.) as well as Delphi, OE and competitor part numbers. Users can also look for parts via the vehicle registration number.
It hasn’t been a good month for global transport’s PR. A runaway train in Canada, followed by a train crash in Spain, a bus crash in Italy and the recent head-on railway collision in Switzerland tragically broke decades long fatality records in each area. Of course mass transport in the developed world has never been safer and incidents like this are thankfully rare. And despite the innate Gestaltist tendency to draw a correlation between the random international happenings, there isn’t one. But that doesn’t stop us being all the more aware of such incidents. Just like when you buy a new car and suddenly realize how many of that make, model and colour suddenly appear despite having been on the roads all along. With this in mind, one of the three incidents that has recently caught public attention stood out particularly clearly for this tyre journalist – the Italian bus crash. Before the investigation was even carried out, my mind was drawn back to another coach crash in the UK. While it is just speculation to suggest that aging was a factor in both cases and there is in fact no clear link between them, one couldn’t help but wonder if it was another case of apparent age-related tyre failure.
China’s Shandong Yongtai Chemical Group, manufacturer of the Durun tyre brand and the DMack tyres used in the World Rally Championship, and UK tyre wholesaler Treadsetters have jointly acquired automotive supplier Covpress. The two companies are believed to have paid £30 million to buy the Coventry-based firm, which employs around 450 people and manufactures body panels for vehicle manufacturers such as Jaguar Land Rover, Nissan and Renault. Chinese and UK media sources report Shandong Yongtai will hold a 70 per cent stake in Covpress and TIA Group company Treadsetters the remaining 30 per cent.
Brazil’s Chamber of Commerce (Camex) has reviewed and extended its anti-dumping duties on passenger car tyres manufactured in China. In late July it published a list of duties to be charged on tyres covered by Mercosul Common Nomenclature (NCM) 4011.10.00, specifically new 65 and 70 series, 13 and 14-inch rim diameter passenger car radials.
A third tyre has been added to Pirelli’s trailer and semi-trailer line-up. The new ST:01 Base joins the ST:01 Neverending and Formula Trailer to round out the Italian tyre maker’s range for this market; with the commercial launch of the ST:01 Base in July, Pirelli says its trailer and semi-trailer portfolio now covers “every need from every haulier” and caters to varied priorities, including mileage and retreadability, low rolling resistance or durability – Pirelli says it now offers an answer to each of these.
Hankook Tyre Australia has established a national service network for its fleet and other commercial customers. Selected truck and bus tyre dealers have been grouped together to make the Hankook Highway Helpline (HHH), a nationwide emergency network offering help around the clock, every day of the year. Upon receiving a tyre distress call, HHH will dispatch the nearest authorised network dealer to provide roadside tyre assistance. The service centre also has provision to contact the second- and third-closest Hankook back-up dealers if required.
Yokohama Rubber Corporation has appointed Koichi Tsuruno president of Yokohama Asia Co., Ltd. Tsuruno begins in this role on 1 August. He retains his position as corporate officer and president of Yokohama Tire Manufacturing (Thailand) Co., Ltd., which he commenced on 1 July.
North-east Scotland Grouptyre member Kenway Tyres has celebrated 30 years in the tyre business, wholesaling tyres into the 8,000 square mile region and operating three retail sites in Aberdeen and Dundee. Kenway has expanded during its lifespan to capitalise on the success of its original site in Aberdeen. “We’re extremely proud of our achievements here at Kenway Tyres”, says managing director Alan Kennaway.
Two biking fanatics have received prizes from Bridgestone’s motorcycle team, responding to contests conducted at a recent motorcycle festival, and on the company’s social networking pages. Katrina Rex beat dozens of men to win a set of premium Bridgestone radial bike tyres at the recent Shropshire Bike Festival, holding out tyres on her outstretched arms for a longer period of time than anyone else. Meanwhile, Steve Trudgeon from St Austell triumphed in a Bridgestone Facebook competition, earning a place at the Honda Ron Haslam Race School at Donington.
Hankook’s results for the second quarter (April-June) of 2013 continue to show steady growth with operating profit up 11.3 per cent and sales up 1.4 per cent year on year. The company achieved a global sales revenue of KRW 1.87 trillion (1.276 billion euro) in the quarter, with operating profit marked at KRW 271.3 billion (185.2 million euro). The company stated that increased sales in the ultra-high performance tyre sector and premium brand equity helped it secure solid sales increases in its major markets.
Goodyear Tire & Rubber has announced what it says are record second quarter earnings, and even its European business showed signs of improvement. Net income more than doubled year-on-year from $85 million in Q2 2012 to $181 million, or $0.67 per share. This exceeded the average analyst estimate by $0.19, and company chairman and CEO Richard J. Kramer said the result demonstrates “the disciplined execution of our strategies by Goodyear associates around the globe as our operations become more efficient, reliable and integrated.”