Trelleborg announces 7-10% price increase on agricultural, forestry tyres
Trelleborg Wheel Systems has announced a seven-to-ten per cent price increase on its tyres for agricultural, forestry and light agricultural applications in Europe.
Continue ReadingLarge stand drives ‘record visitors’ to Giti at CV Show
Following its week at the Birmingham NEC for this year’s Commercial Vehicle Show, Giti Tire said that it “registered record visitor numbers” to its new look stand. The manufacturer was displaying its new GT Radial GDR638 drive axle tyre, among others, from a large stand incorporating its corporate colours alongside its flagship GT Radial branding for the first time. The manufacturer said the use of its Giti branding was part of a plan to raise its profile worldwide in support of global infrastructure projects, such as the new $560m manufacturing and distribution plant in Chester County, South Carolina.
Continue ReadingNew name for wheel maker AEZ Produktion GmbH
German alloy rim manufacturer AEZ Produktion GmbH, producer of the Dotz, Dezent, Enzo and AEZ brands, has been renamed Alcar Leichtmetallräder Produktion GmbH. The new name is valid immediately, however the company states that aside from this one change, all is business as usual – “all terms and conditions, such as sales and shipment policies, remain unchanged.”
Continue ReadingThree-way MoU to examine feasibility of Russian synthetic rubber for Pirelli plants
Pirelli intends to supply its tyre factories in the Asia Pacific region with synthetic rubber produced in Russia. The tyre maker has signed a three-party Memorandum of Understanding related to this project. This new MoU facilitates the continuation of plans set out by MoUs signed between Pirelli and Russian petroleum company Rosneft in May and October 2014.
Continue ReadingChemChina’s latest Pirelli shares held indirectly
Following the news that China National Tire & Rubber Co. (CNRC), a subsidiary of China National Chemical Corporation (ChemChina), entered into a binding agreement with Edizione with respect to the purchase of 1.574 per cent of the share capital of Pirelli on 13 April, company representatives have issued a clarification that these shares are held indirectly.
Continue ReadingBridgestone appoints new European director of replacement sales
Bridgestone Europe has appointed Timothy Manuel, currently general manager of channel strategy as director replacement sales in the company’s European Consumer Business Unit. Despite having taking on this new role, Manuel remains responsible for Consumer Business Unit channel strategy and the Motorcycle Business Unit at European level. Moving forward, his key focus is said to be the development of the company’s passenger car sales in Europe, working closely with the six different European regions.
Continue ReadingBoeing names Michelin a Supplier of the Year
The Michelin Groups Aircraft Tire Division has been recognised as a Boeing Company ‘Supplier of the Year’. The tyre maker was one of 14 companies (and one university) honoured at a Ceremony held in the USA on 15 April. Michelin was awarded in the ‘Electronics/Hydraulics/Mechanical’ category. Michelin also received a Boeing Performance Excellence Award.
Continue ReadingUS site Goodyear’s entry into online tyre retail
Online tyre retailers are nothing new, and Michelin’s current 40 per cent share acquisition of leading French portal Allopneus shows the major manufacturers are taking an interest in this business. That said, no major tyre maker sells directly to the public over its own website – but this is about to change. As Goodyear chairman and chief executive officer Richard Kramer announced at the company’s annual shareholders meeting on 13 April, the US-based company is gearing up to begin rolling out online tyre sales in its homeland. Goodyear has yet to comment on whether it plans to extend these web retail activities to other markets.
Continue ReadingUniwheels proceeding with IPO and Warsaw Stock Exchange listing
Uniwheels AG says it is proceeding with plans for a public offering and it will apply for listing and trading of the company’s shares on the Warsaw Stock Exchange. Plans are to conduct the offering in the second quarter of 2015, however the wheel manufacturer comments that the exact date will depend on market conditions.
Continue ReadingPutting quality to the test – Aeolus seeks brand differentiation with the TÜV mark
The days when a handful of well-known brands dominated the tyre market are long gone, and while consumers are now spoiled for choice, this choice comes with one major hitch – gaining an overview of the good, the bad and the ugly in the tyre world is nigh on impossible. All but a few brand names are ‘unknowns’ to the average tyre buyer, and as a result serious manufacturers can easily remain invisible. Faced with this situation, passenger car tyre sector newcomer Aeolus Tyre Co. Ltd is drawing attention to its products through a name synonymous with product quality the world over.
Continue ReadingLehigh Technologies Wins 2015 Bloomberg New Energy Pioneer award
On 13 April Lehigh Technologies, a materials company producing micronized rubber powders (MRP), announced it won the 2015 Bloomberg New Energy Pioneer award. Lehigh Technologies was recognized for its innovation in commercializing a range of Micronized Rubber Powders (MRP) from end-of life tyres that are used as raw materials in a wide range of industrial markets, ranging from rubber to asphalt. MRP can reduce feedstock costs by 30 per cent or more, while delivering equivalent or improved performance and an improved sustainability profile compared to oil-based chemical inputs.
Continue ReadingClaim of share price manipulation made against Kumho Asiana chairman
The chairman of Kumho Tire’s parent company has been accused of manipulating the price of Kumho Industrial shares ahead of a planned majority shareholding sale. Drawing its information from “the industry”, Business Korea reports that a certain Mr. Kang has sued Kumho Asiana chairman Park Sam Koo and 20 other Kumho executives for professional malpractice, violation of the financial investment laws (including insider trading) market price manipulation and unfair trading, and bid interference.
Continue ReadingChemChina now holds 30% of Pirelli shares
Following news of the company’s plans to takeover Pirelli based on purchasing Camfin’s leading shareholding in the Italian tyre manufacturer, ChemChina has revealed that it has made a deal with Edizione Srl for an additional Pirelli stake. The latest share purchase suggests ChemChina is in the second phase of its acquisition en route to a publically stated goal of owning 65 per cent of Pirelli.
Continue ReadingNexen Tire in Europe – new factory, R&D centre and distribution channels
Times are changing for Nexen Tire in Europe. This year the Korean tyre maker intends to start work on its first production facility on European soil and on the construction of a new and larger European technical centre. Changes are also being made to the way Nexen tyres reach European customers. Nexen Tire Europe president Seung-Do Jin recently spoke to Tyres & Accessories about these plans, and on what the company hopes to achieve in Europe.
Continue ReadingMichelin acquires 40% stake in leading French online tyre retailer
Michelin says its acquisition of a 40 per cent share in France’s leading internet tyre retailer is a way to offer consumers “a simplified and financially-advantageous path” between searching online for tyre information and making a purchase and having tyres fitted by professionals. The tyre maker is investing €60 million for a minority stake in Allopneus SAS, which currently holds a seven per cent share of the French tyre market and sold some three million tyres last year.
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