MRF more than doubles profit in Q1 2018-19
In spite of lower year-on-year sales, MRF Ltd. more than doubled its net profit in the three months to 30 June 2018.
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All-season tyres join Apollo Altrust family
The Apollo Altrust range has grown with the addition of the Altrust All Season. Available from 1 August, the all-season line was specifically developed for light commercial vehicles and is available in 14 sizes.
£200 million acquisition expands Continental’s tyre sales network in Australia
Continental is set to gain a sizeable retail presence in Australia through its acquisition of acquire Kmart Tyre and Auto Service (KTAS), one of the country’s largest tyre and auto service suppliers. The company says the purchase of KTAS from Wesfarmers Limited for AU$350 million (£199.8 million) will “greatly reinforce” its tyre dealership network in Australia.
Platinum – Bridgestone tyre plant gains top Caterpillar certification
Caterpillar has awarded the Bridgestone Americas agricultural tyre plant in Des Moines, USA the highest level in the Caterpillar Supplier Quality Excellence Process (SQEP) certification – Platinum Level for a second consecutive year. These back-to-back platinum awards follow three years of Gold Level SQEP certifications. Bridgestone Americas says receiving the latest Platinum Level certification “represents a significant milestone” for Bridgestone and the Firestone agricultural tyre team.
Nokian Tyres increases sales, profits
Sales and profits headed in the right direction for Nokian Tyres in the second quarter and first half of 2018. The Finnish tyre maker reports a 6.4 per cent increase in net sales, to 429.1 million euros, in the six months to 30 June. Operating profit during this period rose 10.7 per cent year-on-year to 169.3 million euros and the operating margin reached 22.1 per cent (21.3 per cent in H1 2017). Profit for the period amounted to 134.1 million euros, 15.2 per cent higher than a year ago, and earnings per share rose to 0.97 euros.
Ning confirmed as Pirelli chairman
As expected, Ning Gaoning has been co-opted to the Board of Directors at Pirelli & C. S.p.A. and appointed chairman. Ning, who is also chairman of Chinese state-owned petrochemical and fertiliser company Sinochem as well as chairman of Pirelli parent company ChemChina, succeeds Ren Jianxin. Ren relinquished all roles he held on the Board of Directors at Pirelli & C. S.p.A. on 30 July.
US tyre shipments expected to rise in 2018
The U.S. Tire Manufacturers Association (USTMA) projects that tyre shipments in the USA will increase by one per cent to 319.8 million units this year. An additional 0.7 million original equipment passenger car tyres are expected to be shipped this year, a total of 45.9 million units and year-on-year growth of 1.5 per cent. Shipments of replacement market passenger car tyres were expected to be 1.5 million units higher this year, up 0.7 per cent to 211.2 million units.
Sales, profit up at Yokohama Rubber in Q2 2018
Yokohama Rubber Co., Ltd. reports that its sales revenue increased 1.8 per cent in the first half of 2018, to 309.7 billion yen (£2.2 billion). Business profit (sales revenue less the sum of cost of sales and selling, general and administrative expenses) rose 9.5 per cent year on year to 23.8 billion yen (£166.7 million) and operating profit was up 32.3 per cent to 26.4 billion yen (£184.9 million). The company says these operating profit and sales revenue figures were the highest it ever recorded. Profit attributable to owners of parent increased 19.2 per cent year-on-year, to 17.8 billion yen (£124.7 million).
Bridgestone: Tyre business increases in significance in Q2 2018
Turnover at Bridgestone Corporation increased 2.8 per cent year-on-year to 915.5 billion yen (£6.4 billion) during the second quarter of 2018. Sales within the company’s tyre business contributed 758.9 billion yen (£5.3 billion) towards total turnover, growing 3.7 per cent over the prior-year result.
Vision Zero: Continental working with IAM RoadSmart
IAM RoadSmart has come together with Continental to support the tyre maker’s Vision Zero campaign to eliminate road deaths, injuries and accidents. Continental will work with IAM RoadSmart over coming months to engage road users at live experiential events. These will see attendees take the driver seat across a range of driving modules at test track locations, With IAM leading a module that gives a first introductory session to advance driver training, observing driver habits and advising on improvements that can be made.
Superior Industries: Acquired European operation boosts Q2 2018 results
Record unit shipments and net sales were the headline news upon the release of Superior Industries International Inc.’s financial results for the second quarter of 2018 – a performance resulting from the company’s acquisition of Uniwheels last year. The company has also slightly raised its income and EBITDA projections for the entire year.
Pirelli sees technology transfer value in F1 smart tyres
Pirelli has presented new solutions and concepts as part of its Cyber Tyre development programme for more than a decade now. At last year’s Geneva Motor Show, the tyre maker introduced the Connesso system, a sensor-based solution that provides motorists with real-time tyre pressure and temperature data, as well as information about use and maintenance. Yet Cyber Tyre has only focused on road-going solutions so far – a further step for Pirelli would be to introduce its technology into Formula 1.
Cooper Tires becomes RallyX Nordic title sponsor
RallyX Nordic has a new title sponsor, and will henceforth be known as RallyX Nordic presented by Cooper Tires. This new, multi-year arrangement with championship organiser the Scandinavian Touring Cars Corporation (STCC) continues Cooper Tires’ long-standing association with the rallycross series; the tyre maker already serves as official tyre supplier to RallyX Nordic’s Supercar and Supercar Lites categories.
Yokohama Rubber ends technology tie-up with Kumho Tire
A new beginning, and also an end: 6 July, the date on which Doublestar Tire’s acquisition of a 45 per cent share in Kumho Tire was officially completed, was also the day a full stop was placed behind more than four years of technological cooperation between Yokohama Rubber and Kumho Tire. In a statement issued today, Yokohama Rubber informs that it terminated these tie-ups according to their terms and condition following the change in Kumho Tire’s controlling shareholder.
Saudi Aramco to become 100% owner of Arlanxeo
An agreement was signed today for the sale of Lanxess’ 50 per cent share in the Arlanxeo joint venture to its partner, Saudi Aramco. Should antitrust authorities approve the transaction, Lanxess will receive approximately 1.4 billion euros in cash after deducting debt and other financial liabilities for its 50 per cent share in the business, which is valued at 3.0 billion euros. Lanxess, which at the end of June 2018 had a net financial debt of 2.6 billion euros, says it plans to use the proceeds to strengthen its financial basis and reduce net financial debt.
