Pirelli shares delisted post ChemChina buyout
Marco Polo Industrial Holding S.p.A., Pirelli’s owner and a company indirectly controlled by China National Chemical Corporation through China National Tire & Rubber Co., Ltd., has moved to the next stage of its takeover, de-listing Pirelli shares from the Italian stock exchange.
Continue ReadingWhy it’s too early to cry tyre-mageddon
On 3 November Michelin announced a series of pan-European tyre manufacturing restructuring plans designed to address the dual pressures from the on-going negative effects of the 2008 global financial crisis and the sharp increase of low-cost imports – especially in the truck and bus tyre segment. In short this means the closure of its Ballymena truck tyre plant, alongside investment in its Dundee and Stoke facilities; as well as the closure of its Pneu Laurent retreading operation in Germany; not to mention further significant investments and some closures in Michelin’s Italian tyre production plants.
Continue ReadingTrelleborg to present virtual recreation of European Road Show at Agritechnica 2015
As well as presenting its latest tyre to feature ProgressiveTraction technology and other agricultural tyre and wheel products, Trelleborg will provide Agritechnica visitors with the opportunity to experience one of its 2015 European Road Show’s many stops.
Continue ReadingNokian Tyres sales and profits down in Q3
Nokian Tyres has reported third quarter 2015 sales of 311 million euros, down 5.1 per cent on the previous year. Looking at the first nine months of the year, the firm achieved sales of 1.009 billion euros, down 7.1 per cent. Operating profit, however, rose by 0.3 per cent to 72.4 million euros, resulting in an operating margin of 23.3 per cent in 2015 (the prior year figure was 22 per cent). In the first three quarters operating profit amounted to 201.2 million euros now.
Continue ReadingApollo Europe profits fall sharply in Q2
Apollo Tyres reports that sales fell in the second quarter - the Apollo Tyres-fiscal year runs from April 2015 to March 2016 - by 10.5 per cent to 29.8 billion rupees (417 million euros). Meanwhile, operating profits of 70 million euros represent a decline of just 2.3 per cent at 5 billion rupees. Net income, however, rose 8.1 per cent to 2.8 billion rupees (39 million euros).
Continue ReadingKlarius receives full conformity of production approval from VCA
UK manufacturer of exhausts, CATs and DPFs Klarius has opted to bring forward its manufacturing conformity certification for 2015. The company explains that this would “provide more solid evidence of its commitment to premium quality products at a standard price.” This includes the the full manufacturing process for its entire emission control product range covering over 10,000 individual parts.
Continue ReadingMichelin invests in Italian tyre manufacturing, but closes retreading and semi-finished product lines
At the same time as making plant closure announcements relating to the closure of its Ballymena truck tyre and Pneu Larent (Germany) truck retreading plants, Michelin announced that it is investing in its Italian tyre manufacturing operations.
Continue ReadingMichelin closing Ballymena factory, investing in Dundee and Stoke-on-Trent
Michelin Tyre Plc is consulting on the closure of its Ballymena truck tyre factory at the same time as investing in the expansion of its Dundee car tyre and Stoke-on-Trent retreading sites. The Ballymena factory closure plans suggest the site will be run-down between now and a mid-2018 closure point. The Ballymena factory currently employs 860 people and Michelin says it is “committed to supporting those employees during consultation and in the forthcoming months”.
Continue ReadingSailun 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.
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