October-December profits up 20% at MRF Ltd
India’s largest tyre maker, MRF Ltd, has announced its unaudited standalone results for the quarter ending 31 December 2015. The company reports total income of Rs 33786.3 million (£349.9 million) for the period, 2.9 per cent less than the October to December 2014 quarter. Net profit stood at Rs 3881.5 million (£40.2 million) for the quarter, 20.0 per cent higher than a year earlier.
Continue ReadingCooper Tire sets up Brazilian sales office
Cooper Tire & Rubber is interested in expanding its presence in Latin America. Last November the tyre maker signed a Memorandum of Understanding with Argentina’s Fate SAICI, an agreement that initially covers distribution but may be extended to R&D and offtake production, and this month Cooper announced it has established a sales office in São Paulo, Brazil.
Continue ReadingContinental to build new headquarters – towns bid to host facility
Continental has outgrown its headquarters in Hanover, Germany, and is in the process of identifying a suitable site to build a new, larger premises. The city of Hannover has already made Continental an offer in order to keep the tyre maker and automotive industry supplier at home there, however towns in the surrounding region are also attempting to lure the company to a new location so that they may benefit from Conti’s local business taxes.
Continue ReadingBridgestone’s Russian plant – update
The 2016 opening of a Bridgestone tyre production facility in Russia, as reported by Tyrepress.com on 22 January, is the culmination of a joint project agreed upon almost three years ago. On 12 April 2013, Bridgestone Corporation concluded an investment contract with co-investor Mitsubishi Corporation and with the Ulyanovsk Oblast government and Ulyanovsk Region Development Corporation, to build a ¥37.5 billion (£221 million) passenger car radial tyre plant in the Zavolzhye Industrial Zone in Ulyanovsk Oblast, Russia.
Continue ReadingUK car manufacturing at 10-year high
In 2015 the British car manufacturing industry made more cars than any year since 2005 when 1,595,697 vehicles were produced, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Data released on 21 January shows that production increased 3.9 per cent on 2014, with output at 1,587,677 overtaking pre-recession levels for the first time.
Continue ReadingDriveRight R&D moves into MIRA
DriveRight, a leading independent supplier of international automotive, wheel and tyre data, has established its UK R&D team and wheel and caliper consultancy at MIRA Technology Park, near Hinckley. DriveRight recently announced plans to expand further, and the move to MIRA Technology Park (now part of the Horiba MIRA group) is the first step in its expansion plan.
Continue ReadingApollo sites first Indian ‘Go The Distance’ pitch in Mumbai
The establishment of dual-branded Apollo Manchester United Go The Distance community pitches was said to be a key part of Apollo’s Man U sponsorship when it began back in August 2013. The first such pitch was officially opened a year after the relationship began just outside the h
Continue Reading95% of diesel cars are breaking emissions limits – Which?
VW has borne the brunt of criticism for its admitted use of defeat devices in order to manipulate test results. However, the latest research from Which? found that many other manufacturers are breaking emission limits too.
Continue ReadingNokian announced ‘operational structure and management team’ changes
Alexej von Bagh is to take over the responsibility for global Process development at Nokian Tyres as of 1 April 2016. Mr von Bagh will have responsibility for the overall process architecture and process development. Mr von Bagh reports to the president and CEO. “Alexej has been a strong driver in Vianor’s success. Vianor’s processes are world class and business is growing. He will take the planning and execution of the whole company’s process architecture to the top level”, says Ari Lehtoranta, president and CEO of Nokian Tyres.
Continue Reading2016 Ford Focus RS fitted with Michelin tyres
Ford’s new Focus RS models will be equipped with Michelin Pilot Super Sport and Pilot Sport Cup 2 tyres, depending on customer requirements. Unveiled at the Frankfurt motor show in September 2015, the new Ford Focus RS will be fitted with Michelin’s flagship Pilot Super Sport road tyres in 235/35 ZR19 front and rear and Pilot Sport Cup 2 tyres are available as an option in the same size.
Continue ReadingMagna Tyres to exhibit at Bauma
Off-road tyre manufacturer Magna Tyres Group has confirmed its presence at the event billed as “the world’s largest trade show for construction and mining equipment and machinery”. The company says it will present its latest Magna and MTP brand tyres at the show.
Continue ReadingQingdao carbon black JV now wholly Orion-owned
Carbon black supplier Orion Engineered Carbons S.A. shares that its acquisition of the remaining 64 per cent share in the Qingdao Evonik Chemical Co. Ltd. (QECC) carbon black business in Qingdao, China has now been completed.
Continue ReadingChemChina acquires share in Mercuria
It recently acquired Pirelli and KrausMaffei, and China National Chemical Corporation has now purchased a stake in Mercuria Energy Trading, an integrated energy and commodities company with a (2014) turnover of US$106 billion. The Chinese chemical company has taken a 12 per cent share in the shareholding structure of Mercuria.
Continue ReadingGoodyear declares dividend on common stock
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.07 per share of common stock. The dividend is payable 1 March 2016 to shareholders of record on 1 February 2016. The payout represents an annual rate of $0.28 per share.
Continue ReadingMRF considering European car tyre import options
Not only has leading Indian tyre maker MRF Tyres, launched its MRF Motorsport Tyres Europe operation during Autosport International 2016, the firm is also considering importing its passenger car tyres into Europe in the years to come. While MRF has been exporting to between 60 and 70 countries worldwide for some time now the majority of these are in Asia, with others in the Middle East, Africa and South America. A few speciality products aside, MRF hasn’t really been exporting to Europe before now.
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