Arnco tyre fill range production begins in Germany
Accella Tyre Fill Systems GmbH, the subsidiary of US company Accella Performance Materials formed prior to the August 2014 acquisition of Rösler Tyre Innovators’ “Zeus” tyre fill business (and known as Zeus Tyre Fill Systems GmbH immediately after the acquisition), has announced it will begin producing the Arnco portfolio at the former Rösler facility in Dortmund, Germany. Accella states that the start of Arnco production at the Dortmund site is a “significant milestone” for the company.
Continue ReadingChemChina Pirelli buy-out underway
The complete buy-out of Pirelli led by ChemChina is now fully underway, following the passing of the 11 August deal closing date. While the exact process is labyrinthine in its detail, the concise version of events is that ChemChina is buying out Pirelli with the firm’s shares being held by a number of holding companies which are themselves owned by a number of different companies. In short ChemChina, businesses owned by Marco Tronchetti Provera and the Rosneft-owned Luxembourg-based Long Term Investmentss will be the major shareholders.
Continue ReadingApollo Tyres lifts profit margin to 18.7% in April-June quarter
Unaudited financial results for the first quarter of Apollo Tyre Ltd’s 2015-16 financial year were released yesterday, and these show a year-on-year rise in the company’s operating and net profits despite lower net sales.
Continue ReadingToyo reports 1H 2015 net loss
Publishing its first half 2015 financial results, Toyo Tire and Rubber has reported net sales of 194,402 million yen (£999.314 million; 1.408 billion euros; US$1.556 billion), an increase of 7,080 million yen or 3.8 per cent from the same period in 2014. This resulted in a net loss of 4,156 million yen (£21.365 million; 30.116 million; $33.268 million) compared with 15,269 million yen profit in the same part of 2014.
Continue ReadingYokohama record first half sales and operating income
The Yokohama Rubber Co., Ltd. January to June 2015 financial results were the highest first-half results in the firm’s history. Net sales increased 4.4 per cent, to 296.3 billion yen (£1.522 billion; 2.146 billion euros; US$2.374 billion); operating income increased 7.3 per cent, to 25.3 billion yen (£129.966 million; 183.141 million euros; $202.702 million); and net income declined 9.6 per cent, to 16.2 billion yen (£82.253 million; 117.255 million euros; $129.668 million).
Continue ReadingCarlstar sells belts business to Timken
The Carlstar Group has agreed to sell its Carlstar Belts Business to Timken Company. The transaction is expected to close in the third quarter of 2015 following customary government and regulatory approvals.
Continue ReadingRussia continues to pound Nokian Tyres’ sales and profits
It is hard to believe that little more than two years have passed since Nokian Tyres predicted the market for premium tyres in Russia would grow by an average of ten per cent each year, and even harder to grasp that as recently as 2012 the Russian and CIS markets accounted for 35 per cent of the tyre maker’s total net sales.
Continue ReadingLassa endorses FC Barcelona’s Arda Turan
Lassa Tyres has signed a an endorsement agreement with Barcelona midfielder and Turkish National Football Team captain Arda Turan on a two-year contract. The news follows the earlier partnership agreement between FC Barcelona and Lassa making Lassa the main partner of all the indoor sports (which includes basketball, handball, futsal and roller hockey teams) as well as official partner of the Football Club for the next four seasons until 30 June 2019.
Continue ReadingNokian Tyres to lower production, lay off workers in Finland
The the economic situation in Russia and the CIS countries has led to a downgrade in Nokian Tyres’ 2015 outlook. The Finnish tyre maker says sales of passenger car tyres have continued to decline in this region, and those tyres being purchased within the Russian market are increasingly lower B or C segment brand products. The company’s own sales in Russia were down 39.1 per cent year-on-year during the first half of 2015.
Continue ReadingPirelli lifts sales, income in first half of year
The financial results for the first six months of published by Pirelli & C. SpA yesterday show a 6.4 per cent year-on-year rise in net sales in the period to 30 June, with sales amounting to €3.2 billion. Organic growth accounted for 3.2 per cent of this increase. Pirelli’s consumer business enjoyed year-on-year growth of 10.2 per cent, while revenues for the industrial business declined 5.2 per cent.
Continue ReadingNexen Tire begins Manchester City FC partnership
As of yesterday, Nexen Tire is Manchester City FC’s official tyre partner. Nexen Tire president Ho-Chan Kang and Manchester City FC CEO Ferran Soriano signed the partnership documents during a ceremony held at the City Football Academy in Manchester. Amongst the attendees witnessing the start of the new agreement were Omar Berrada, the club’s football marketing director, plus a number of Nexen Tire and Manchester City executives. Several players were also present.
Continue ReadingBridgestone sales, income rise in H1 2015
Bridgestone Corporation has reported a net sales of ¥1,855.4 billion (£9.5 billion) for the first half of 2015, a 6.0 per cent year-on-year increase. Operating income rose 6.6 per cent to ¥237.7 billion (£1.2 billion) and the operating margin nudged up from 12.7 per cent to 12.8 per cent. Net income rose 1.7 per cent to ¥144.6 billion (£711.1 million).
Continue ReadingOperating profit up in Q2 as Cooper Tire benefits from raw material prices
Cooper Tire & Rubber blames the absence of Cooper Chengshan Tire (CCT) from the company’s books for the 15.4 per cent year-on-year drop in sales experienced during the second quarter of 2015. Excluding the impact of CCT, Cooper Tire & Rubber’s second quarter 2015 sales rose five per cent year-on-year as a result of $64 million worth of higher unit volume gained both in the Americas and International business units.
Continue ReadingGoodyear and the London School of Economics partner on road safety research
Goodyear and the London School of Economics and Political Science (LSE) are cooperating on road user behaviour research. The project, managed by LSE Consulting, is designed to contribute to the road safety debate in Europe with unique empirical insights. “Current road safety research is largely focused upon how drivers use their vehicles within a physical, […]
Continue ReadingLanxess preparing tyre, rubber business units for partnership
Specialty chemicals manufacturer Lanxess states it has initiated a carve-out process to transfer its rubber business to a legally independent business entity within the Lanxess Group. The plan is for the new entity to include the company’s Tire & Specialty Rubbers (TSR) and High Performance Elastomers (HPE) business units, which together operate 20 production facilities and have some 3,700 employees.
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