Pirelli is now Chinese owned
As of yesterday (12 October 2015) Marco Polo Industrial Holding’s offer for Pirelli ordinary share capital achieved an acceptance rate of 53.6 per cent. However, because today (13 October) is the last day of the offer period, it is very likely that this percentage will be significantly more at the end of the day. This means the pre-announced plans for ChemChina to buy around two-thirds of Pirelli is well underway and therefore the company is now effectively Chinese-owned.
Continue ReadingSchaeffler cuts IPO following VW scandal
In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.
Continue ReadingIndependent tyre distributors building ships for choppy waters ahead
In October 2014’s Wholesale feature, Tyres & Accessories asked whether Europe’s independent tyre wholesalers still have a future in the context of the German company Ihle Baden Baden’s failure and subsequent sale to Michelin. Pointing to the lightening of the business due to such factors as the price transparency offered by e-commerce (and online marketing) we wondered whether the value of the relationship between customers and their suppliers had become more tenuous, relying only on price and reliability of deliveries. Should these two considerations become the only weapons in a wholesaler’s arsenal, T&A suggested that their role becomes more akin to a specialised freight forwarder.
Continue ReadingTriangle ‘goes global’ at Weihai summit
Triangle Tyre’s recent summit at the company’s headquarters in Weihai, Shandong Province continues the firm’s recent movement towards going global. The theme was “bring progress to the society, create civilization for human beings”, which when culturally translated speaks of the firm’s intention to be a CSR-conscious global player. According to the company, more than 400 customers were present including representatives of the likes of Caterpillar, Lanxess, Bekaert and VMI as well as the media researchers and scholars from different countries.
Continue ReadingUnity Tyre talks 40 years of budget brand experience, potential wholesale contraction
Bristol’s Unity Tyre distributes budget brand tyres in the UK, having established itself as an independent wholesaler with the objective of providing a “one-stop-shop” service. Unity’s spokesperson said the company works closely with “tyre manufacturing suppliers including SD International to ensure we meet the demands of our customer base with continuous quality products.” Unity also commented on major issues in the UK tyre wholesale sector covered in October’s Tyres & Accessories feature, and suggested that further volatility could lead to its contraction in the near future.
Continue ReadingKirkby ‘not interested’ in adding budget products to long-standing range
Speke-based tyre wholesaler Kirkby Tyres is not concerned with the high production levels and low prices currently coming out of China at the present time, not least because it does not play a role in the car tyre market. The OTR specialist comments that it expects “more and more tyres to come in at lower prices” within the PCR market, but adds, categorically, that: “we have absolutely no interest in buying or adding budget Chinese tyres to our brand offering” within the segments in which it does operate.
Continue ReadingTyreClick, CORE programme helping Micheldever support independents
Micheldever Tyre Services’ wholesale business, worth £230 million in annual sales, has taken significant steps to support the on and offline operations of its independent tyre dealer customers in 2015. The added value of MTS’ services has become increasingly important in the light of continued growth in the number of retail branches controlled by the top 20 multiples (as noted in our Tyre Retail feature in the May magazine), and the increased online competition provided by internet specialists, big retail brands from within and outside the traditional tyre sector, and now, with Michelin’s acquisition of Blackcircles.com, major tyre manufacturers themselves. Alan Baldwin, sales director at Micheldever Tyre Services, told Tyres & Accessories, “I’m confident that there isn’t another wholesaler, distributor, and in many cases, manufacturer, in the UK that invests as much money, time and resources in supporting dealers as we do.”
Continue ReadingKings Road Tyres expands portfolio with Blacklion PCR, Kingstone Turf/ATV ranges
Kings Road Tyres has added the Blacklion passenger car range and new Turf/ATV tyres from its Kingstone house brand to its portfolio. Already the exclusive distributor of Blacklion’s TBR range, KRT has extended its stock with the Sailun-produced brand’s PCR products. KRT describes Kingstone, first introduced in 1987, as being among the very first house brands developed exclusively by a UK wholesaler. The development of a new range of 50 turf and all-terrain vehicle tyres is a reflection of KRT’s strategic decision to grow its business in this specialist market.
Continue ReadingYokohama to exhibit tyres and Chelsea connection at 44th Tokyo Motor Show
The Yokohama Rubber Co., Ltd. is to participate in the 44th Tokyo Motor Show 2015, which will be held at Tokyo Big Sight in Tokyo, Japan, from 28 October to November 8.
Continue ReadingStapleton’s investment targets further growth, TPMS opportunities
Stapleton’s investment in recent years has been focused on its nationwide distribution operation – including new regional hubs and a larger delivery fleet – the wholesaler said. “It’s all been in response to the retailers’ needs – and we’re gratified by their response to the flexible and responsive operation we’ve created, with faster and more frequent deliveries,” comments Nigel O’Hara, Stapletons wholesale director. Retailer feedback has confirmed Stapleton’s customers want to stock a variety of tyre solutions at every price point, but especially in the fiercely competitive mid-market sector. The wholesaler has a range of exclusive brands in this segment, including Maxxis, Nexen, Matador, Event and Riken.
Continue ReadingManchester wholesaler exclusive GRI materials handling tyres supplier
Specialising in the production of solid and pneumatic industrial tyres and operating out of a warehouse in Manchester, Wholesale Industrial Tyres (WIT) was set up to offer more value and choice for businesses with large fleets of warehousing vehicles. WIT is the exclusive UK distributor for Sri Lankan materials handling tyre manufacturer Global Rubber Industries (GRI), importing a range of tyres suitable for heavy duty warehousing tasks. WIT currently employs five people.
Continue ReadingNexen breaks ground on Zatec, Czech Republic plant
On 1 October 2015 Nexen Tire broke ground on the site of its new plant in Zatec, Czech Republic. The company has committed to investing more than 829 million euros in building the new plant on 650,000 square metres of land in Zatec.
Continue ReadingAl Dobowi appoints new group CEO
Al Dobowi Group, which is well known for importing and exporting tyres around the world, has appointed Malcolm Wall Morris as group chief executive officer effective immediately. This is the first time Al Dobowi has appointed a group CEO in the company’s 40-year history. According to Al Dobowi representatives, the decision – taken in the firm’s 40th anniversary year – reflects the understanding that the family business “needs to develop and evolve to ensure that we are best positioned to continue growing for the next 40 years”.
Continue ReadingGoodyear confirms Wolverhampton plant closure
Goodyear Dunlop UK has confirmed the closure of its Wolverhampton retreading plant. Closure will happen on a phased basis. The first roles to be made redundant are likely to occur on 31 December 2015, with anticipated production at the plant ending no earlier than January 2017. “It is important to understand that no alternatives to the companys proposal have been made”, company representatives wrote in a statement.
Continue ReadingThe end of Goodyear Dunlop’s UK retreading
Just before the September Retreading Special went to print, Goodyear Dunlop was in consultation on the proposed closure of its Wolverhampton mixing and retreading plant, announced in June. Though the plant was the subject of significant investment as recently as 2012, its viability has ultimately reduced to a level at which Goodyear Dunlop believes “there is no other option” but to close the facility, in the words of UK managing director, Erich Fric, who spoke to Tyres & Accessories shortly after the announcement. Indeed, the company’s exit from Wolverhampton appears the logical conclusion to decades of diminishment since its post-war peak, when Goodyear employed more than 7,000 jobs in the city, mostly manufacturing new tyres, an activity that ended in 2006. With the new tyre manufacturing site the subject of a £150m redevelopment plan to make the area a housing zone, Goodyear Dunlop signed a 10-year lease on the land occupied by its mixing and retreading operations, a commitment that was augmented by a five-year investment plan that brought two new Next Tread retreading machines and a Banbury mixer to Wolverhampton.
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