Sailun launches 6-month World Child Cancer Challenge
Sailun has invited its key distributors and partners to participate in its six-month World Child Cancer (WCC) Challenge. Aimed at distributors in the EU, but not discounting partners from other regions, the Sailun WCC Challenge tasks is to raise as much money as possible between 1 November 2015 and 30 April 2016.
Continue ReadingMaxam moves operational team to Sailun Europe’s UK office, plans expansion
Maxam has announced its strategic intent to grow global sales and market shares following completion of an intensive review of its operations. One result of this review has been the move of the operational support team from Luxembourg to Birmingham, where it will link up with the Sailun Jinyu European team, and stand in very close proximity to the nearby Sailun European Research and Development facility. In order to achieve its overall objective, the OTR tyre manufacturer has also planned number of initiatives.
Continue ReadingMaxxis developing plans for India tyre plant
Talking to Tyrepress about its latest expansion project, Maxxis chairman Tsai-Jen Lo has visited the chief minister of the Indian state of Gujarat in order to finalise plans for Maxxis’ first plant in India. The latest plant, joining ten other Maxxis plants located throughout Asia, is due to be ready for operation in early 2017.
Continue ReadingGoodyear reports Q3 2015 operating income of US$599 million on flat sales
Goodyear has reported record quarterly segment operating income of US$599 million, up 15 per cent compared with the same period. Net income of $271 million was up 68 per cent. North America earnings of $323 million were up 54 per cent and are said to be “a record for any quarter”.
Continue ReadingToyo revises corporate roles
Toyo Tire & Rubber Co., Ltd. has made the following changes to its array of corporate officers and other executives. All roles are effective 1 November. Tetsua Kuze is now corporate officer and general manager of Toyo’s DT Planning Division, DT Business Group Headquarters, DT Strategy and Planning Dept. and DT Business Group. Kuze had previously been senior corporate officer and general manager of the administrative division as well as general manager of the Corporate Planning Division overseeing corporate purchasing division headquarters. He remains deputy general manager, Seismic Isolation Rubber Division
Continue ReadingMaxxis confirms India tyre factory plans
Maxxis has confirmed that Maxxis/Cheng Shin company chairman Tsai-Jen Lo recently visited the chief minister of the Indian state of Gujarat, finalising plans for Maxxis’ first plant in India.
Continue ReadingEuro-Tyre Venlo to close next summer
Well-known tyre wholesale Euro-Tyre is to close its Venlo distribution centre next summer. According to local news reports, storage and distribution of tyres will be moved to the firm’s German sister company Reifen Gundlach in Daufenbach and to Pon Logistics in Barneveld. The sales, purchasing, administration and the IT departments of Euro-Tyre will however remain in Venlo.
Continue Reading96% of Pirelli shares purchased by Marco Polo
Following the re-opening of its well-reported takeover offer, Marco Polo Industrial Holding S.p.A. now owns 95.969 per cent of the ordinary share capital of Pirelli. The news suggests the takeover of Pirelli is now virtually complete and Marco Polo (which itself is owned by China National Chemical Corporation, China National Tire & Rubber Co., Ltd., Camfin S.p.A., Coinv S.p.A. and Long-Term Investments Luxembourg S.A. (which is controlled by Rosneft) is now the shareholder of basically all of Pirelli’s stock. The latest developments have taken place in the two weeks since Marco Polo became Pirellis majority shareholder on 8 October.
Continue ReadingVW reports first quarterly loss in 15 years
The Volkswagen Group has reported third quarter 2015 pre-tax losses of 2.522 billion euros as a result of the emissions scandal the firm is embroiled in. The losses are attributed to 10.2 billion euros of special charges in the first nine months of the year. In addition market observers are concerned about the firm’s continued corporate policy.
Continue ReadingApollo Vredestein launches Dealer Partnership programme
Apollo Vredestein has launched a Dealer Partnership programme across Europe, with the intention of increasing the visibility of its brand. Four new shops were opened simultaneously in Belgium, Hungary, Italy and the Netherlands, while others are planned for Austria, Germany, Spain and Switzerland in the coming months. Apollo said its eventual goal is to have 800 programme partners by 2020, throughout Europe.
Continue ReadingNew continental-tyres.co.uk web site
Continental Tyres has its continental-tyres.co.uk web site a makeover and aligned the relaunched version with global sites. “Increasingly our customers are turning to the Internet for information about our tyres,” explained Stephan Meier who heads up eBusiness EMEA at Continental: “With our new-look website we are aiming to offer visitors even more targeted and rapid access to the information they want, providing them, for example, with better and faster online advice on selecting the right Continental tyres for their needs.”
Continue ReadingMichelin Tire Care [strategy] launched
At the start of October in Paris Michelin launched Michelin Tire Care, a suite of connected software solutions designed to help hauliers get the most out of their tyres. The idea is that fleets get more performance (and therefore financial value) from their tyre purchases as they use the mobile/tablet-based software, and in doing so see the benefit of premium and especially Michelin truck tyre products. While software is clearly at the heart of this latest announcement, Tyres & Accessories considers whether we should be using the term “strategy” instead.
Continue ReadingFrancesco Gori appointed as Apollo Tyres advisor for strategy
Apollo Tyres has appointed former Pirelli CEO Francesco Gori as its new advisor for strategy. Part of Apollo Tyres’ management board, Gori will support the company in its goal of international growth, identification and development of new opportunities.
Continue ReadingKumho’s US plant nearing completion
Kumho’s first North American tyre plant is due for completion in early 2016. The facility is sited in Macon, Georgia, close to Atlanta Airport, which Kumho explains is the busiest in the world, and under 180 miles from the international port of Savannah. Kumho aims to strengthen its position globally and in the key North American market, and has invested $420 million in the factory so far. When complete, the building will cover 21 acres, and produce around four million tyres per annum. Around 90 staff are already engaged on site, a figure that will rise to 400 by the time of next year’s opening.
Continue ReadingBridgestone buys large US tyre retailer Pep Boys in US$835 million deal
Bridgestone Americas, Inc. is to buy large US tyre retailer The Pep Boys – Manny, Moe & Jack in an US$835 million all-cash deal. The transaction will be executed by Bridgestone Retail Operations, LLC (BSRO), a wholly owned subsidiary of Bridgestone Americas and follows the signing of a merger agreement under which BSRO will pay $15.00 per share, a price that represents a premium of 23 per cent over Pep Boys’ closing price of $12.15 on 23 October 2015 and a premium of 62 per cent over Pep Boys’ pre-buyout speculation price of $9.25 on 19 May 2015.
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