Cooper Tire releases global sustainability report
The third annual Cooper Tire & Rubber corporate social responsibility and sustainability report was published today. This year’s document is titled ‘Responsibility the Cooper Way’.
Continue ReadingJK Tyre calls for tariffs on Chinese tyres, release quarter results
The latest quarter figures for JK Tyre & Industries were released along with a challenge for India’s government to impose tariffs upon tyres imported from China. Company chairman and managing director Dr Raghupati Singhania stated on 4 August that the “menace” posed by the “dumping of Chinese tyres” continues “unabated”. He added that “urgent steps are required to impose [an] anti-dumping duty to ensure a level playing field in the marketplace.”
Continue ReadingBridgestone tyres OE on Mercedes GLC SUV
Bridgestone tyres have been selected by Daimler for the 2015 worldwide launch of the second-generation Mercedes-Benz GLC SUV. The luxury mid-sized SUV is factory fitted with Dueler H/P Sport tyres in four sizes across the model range.
Continue ReadingPirelli and ChemChina agree closing date, triggering mandatory tender offer
CNRC (ChemChina), Camfin and its shareholders have announced that all the necessary antitrust and regulatory approvals for ChemChina’s purchase of the majority of Pirelli (as announced on 22 March 2015) have been obtained. Therefore the aforementioned parties have agreed to complete the transaction on 11 August 2015. As a result, the pre-announced mandatory tender offer for the remaining shares (at 15 euros each) will be triggered.
Continue ReadingContinental lifts 2015 earnings forecast following H1 ‘success’
All key financial figures headed in the right direction during the first half of this year, and therefore tyre maker and automotive industry supplier Continental AG has upwardly revised its adjusted EBIT margin and free cash flow forecast for the full year.
Continue ReadingToyo Tire sponsoring Russian football club FC Zenit
Toyo Tire & Rubber’s tyre sales subsidiary in Russia has concluded a sponsorship agreement with Russian Premier League football club FC Zenit Saint Petersburg (ф.К. Зенит). Toyo Tire Rus LLC will sponsor the team for three seasons, with the contract running from August 2015 to July 2018.
Continue ReadingBridgestone a VW Group Award recipient
Bridgestone Corporation has received a 2015 VW Group Award in recognition of its status as one of the Volkswagen Group’s best suppliers. The VW Group bestows this award upon a small number of international suppliers that excel in innovative capabilities and reliability.
Continue ReadingBrake Engineering’s new look takes to the road
Brake Engineering is planning a major brand refresh and has signed up to a number of events to ensure the trade takes full advantage. Commencing the beginning of October, Brake Engineering is exhibiting at the Groupauto Trade Show, Mechanex Donington, AutoTrade Expo (Dublin) and Mechanex Sandown Park, alongside its attendance at the IAAF Annual Conference and Awards Dinner in December.
Continue ReadingCenex picks Chargemaster to run electric vehicle plug-in network
Cenex, the Loughborough-based Centre of Excellence for Low Carbon and Fuel Cell Technologies, has chosen Chargemaster, the largest UK supplier and operator of chargepoints, to run the Plugged-in Midlands Network (PiM) following a competitive selection process.
Continue ReadingMature markets a bastion of sales strength for Hankook Tire in challenging Q2 2015
Hankook Tire says increasing global competition, slow market growth in China and Korea and exchange rate fluctuations contributed to a year-on-year decline in operating profit in the second quarter of 2015. While sales revenue was only slightly down on a year earlier, falling 2.5 per cent to KRW 1.62 trillion (£886.4 million), operating profit dropped 20.0 per cent year-on-year in the April to June reporting period to KRW 201.1 billion (£110.0 million). Net profit figures were not reported.
Continue ReadingMichelin acquires second German wholesaler
Last year Michelin made news when it bought out the parent company of Germany’s largest wholesaler, Ihle Baden-Baden AG, and now the French tyre maker has increased its wholesale presence in Germany with the 100 per cent acquisition of Meyer Lissendorf, a wholesaler with a strong car tyre focus. Michelin has not disclosed the purchase price.
Continue ReadingMichelin a CNH Industrial ‘best supplier’
Michelin’s Agricultural division has landed a CNH Industrial 2015 Best Supplier Award. Division head Emmanuel Ladent received the award on behalf of Michelin at a CNH Industrial-hosted ceremony on 16 July.
Continue ReadingTitan evaluating Brazil wheel facility, expansion in Turkey
Titan International is considering an expansion of its wheel business in the coming half year. In the company’s second quarter 2015 results announcement, CEO and chairman Maurice Taylor reports that Titan International is “exploring plans to expand our wheel plant in Turkey” and to “establish a new wheel presence in Brazil to accompany our existing tyre business.” Taylor did not furnish any additional details about the two potential projects.
Continue ReadingGoodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles
Goodyear has reported strong overall results for its second quarter, despite falling sales in the Europe, Middle East and Africa region. The manufacturer reported that the 20 per cent lower sales, $1,265 million compared to $1,580 million in the same quarter in 2014, was primarily a result of “unfavourable foreign currency translation”, though it also saw two per cent lower tyre unit volume. This was a result of lower consumer tyre sales and the manufacturer’s exit from the agricultural tyre business. Both original equipment and replacement tyre shipments were down two per cent. Its EMEA operating income was also eight per cent below the 2014 2Q, though operating margin rose from 7.4 to 8.5 per cent.
Continue ReadingBonjour, Guten Tag, Hola, Ciao! – BKT website goes multilingual
In January off-road tyre specialist BKT relaunched its bkt-tires.com website, and the company has now increased its international appeal by adding French, German, Spanish and Italian language options. The tyre maker says the jump from one to five languages on its site in “perfectly in line with the company’s positioning and focus on an international public.”
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