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Yokohama Rubber has confirmed its exhibition presence at the Tokyo Auto Salon 2017, which will be held at Makuhari Messe between 13 and 15 January. The Yokohama exhibit will feature booths dedicated to tyres and alloy wheels, with the spotlight particularly thrown upon the company’s Advan global flagship brand by the presence of two Advan-shod racing cars.
Key preliminary data for Continental’s 2016 financial year has been published, and this shows an increase in both sales and EBIT margin. Reported sales rose three per cent year-on-year to around €40.5 billion, and adjusted EBIT margin amounted to some 10.7 per cent. Upon announcing these results today, Continental wrote that the company “comfortably achieved” its annual targets as adjusted in October 2016.
Rubber prices are expected to rise this year, and in response to the anticipated direction that this commodity and other raw materials will take in 2017, Trelleborg has announced a five per cent price increase for its industrial and construction tyres in Europe. The new pricing takes effect 1 February 2017.
TecAlliance growing suite of products now includes parts identification apps. TecAlliance’s Shaun Greasley explained: “With the growing reliance on smart phone technology, parts manufacturers see the importance and the subsequent opportunity, to provide their customers with the information they require when and where they need it.
The Goodyear Tire & Rubber Company has signed a technology agreement with California-based Tesloop Inc. to model tyre performance based on data generated by the city-to-city mobility service.
Tesloop operates a fleet of semi-autonomous Tesla vehicles, providing a shared passenger transportation service for distances between 50 and 300 miles.
New year. New diary. New balance sheet. New company? In this respect, 2016 got off to a flying start. No sooner had the year begun than we received news of some high profile, three-digit-million pound mergers and acquisitions. The first and the largest was the acquisition of well-known garage data supplier Autodata (see page 32, Company New section for complete details). However, within 24 hours this was followed by the potentially UK tyre wholesale and retail-changing announcement that Sumitomo Rubber Industries had acquired Micheldever Tyre Services.
Sri Lankan industrial tyre maker Global Rubber Industries, or GRI, has laid the foundation for its new off-road tyre factory. Groundbreaking took place 4 January and marks the start of construction on a plant that will be built with an investment of US$40 million. The facility will be built adjacent to GRI’s current solid industrial tyre factory in Badalgama, Sri Lanka.
Dunlop, official tyre partner to the MSA British Touring Car Championship, predicts a “significant increase in grip and traction” following the introduction of larger tyre sizes and new constructions for the 2017 season.
Last year’s acquisition of Alliance Tire Group by Yokohama Rubber has now been followed up by the purchase of a further off-road tyre specialist. An agreement was reached today on Yokohama Rubber’s planned acquisition of Aichi Tire Industry Co., Ltd. Shareholders of the Japanese industrial tyre manufacturer have consented to Yokohama Rubber’s purchase of all shares for an undisclosed sum, and Yokohama plans to complete the acquisition by March 2017. After this date, Aichi Tire will be a wholly-owned subsidiary of Yokohama Rubber.
The UK new car market achieved another record year in 2016, with annual registrations climbing for the fifth year in a row to almost 2.7 million, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). The market has experienced uplifts in 10 out of the last 12 months, albeit finishing with a December down slightly by -1.1 per cent – with 178,022 new cars registered in the month. However, the SMMT also gave a negative prediction for growth in 2017.
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Following the news Autodata was sold yesterday, it has emerged that Solera Holdings paid some £340 million. Autodata originally sold for £143 million in May 2014 when the founders sold the business to Bowmark and Five Arrow Principal Investments. Therefore the price Solera paid represents a 137 per cent increase in Autodata’s valuation.
Tire Group International (TGI) has named Craig Hancock its new chief financial officer. Hancock succeeds Alberto Olivares, who announced his retirement from the position at the end of 2016 after a serving in the role for the past 19 years. Olivares remains part of the TGI Executive Counsel.
The Independent Garage Association (IGA) is launching its biggest MOT training campaign yet across the industry as a response to low numbers of MOT Testers having completed the DVSA’s mandated annual training.
Japan’s Sumitomo Rubber Industries, Ltd. has announced its intended acquisition of Micheldever Group Ltd. from Graphite Capital Management LLP. for an enterprise value of £215 million. The tyre maker states its decision to purchase Micheldever is closely linked to the aim of strengthening the market position of its Falken tyre brand in the UK.
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Bridgestone Corporation’s support of the Olympic Movement has now gone global. On 1 January 2017, the company expanded its partnership with the International Olympic Committee (IOC). Bridgestone will now serve as a partner globally through to 2024 and be associated with the Olympic Winter Games PyeongChang 2018, the Olympic Games Tokyo 2020, the Olympic Winter Games Beijing 2022 and the Olympic Games 2024, which will take place in either Budapest, Los Angeles or Paris.
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