![TRW to open three new plants in China](https://www.tyrepress.com/wp-content/uploads/2015/04/trw.jpg)
TRW to open three new plants in China
By the end of next year, TRW Automotive Holdings Corp. intends to have opened three further plants in China. Two of these facilities will be located on the same site in Zhanghjiagang, Jiangsu province; the first, a factory dedicated to braking, will start operations at the end of the second quarter of 2015, while a November 2015 start is planned for the other, an occupant safety systems facility. The third plant is located in Xian and is also an occupant safety systems factory. It should be operational by the third quarter of 2016.
Continue ReadingLower material costs help MRF double net quarter profits, despite Chinese competition
India’s MRF Limited reports that its year-on-year net profit almost doubled in the three months to 31 March 2015. Net profit during the period amounted to Rs 3,326 million (£34.4 million), up 94.6 per cent on the Rs 1,709 million (£17.7 million) earned in the first three months of 2014. This huge jump in profit was achieved in spite of hefty competition from imported Chinese tyres, and was facilitated by much lower natural rubber prices – Mumbai-based stock and wealth trading company Angel Broking reports that MRF’s raw material costs declined from 65.7 per cent of sales in the second quarter of calendar year 2014 to 57.4 per cent of sales in the reporting period. Net income of Rs 33,120 million (£342.7 million) for the quarter was only 0.4 per cent higher than a year ago.
Continue ReadingNon-certified Toyo earthquake aborbers found in 90 more buildings
90 more buildings in Japan were constructed with earthquake shock absorption devices that did not meet certification standards. According to The Japan Times, this brings the latest figure brings the total to 145. The report also quotes Toyo as saying four employees may have been involved in falsifying performance data on the quake-absorbing rubber equipment.
Continue ReadingShareholder approval sought for Titan’s Delaware incorporation
Titan International is urging its stockholders to approve the reincorporation of the company from the US state of Illinois to the state of Delaware at its annual shareholders meeting on 4 June. This move has already been unanimously approved by the tyre maker’s Board.
Continue ReadingMexico plant our ‘most technologically advanced’, says Goodyear
Together with Mexico’s President, Enrique Peña Nieto, Goodyear Tire & Rubber chairman and chief executive officer Richard J. Kramer has announced that the tyre maker’s new factory for the Americas will be built in San Luis Potosi. Goodyear says the new factory will be its most technologically advanced plant and have a capacity of six million consumer tyres per year. When it reaches full production, the factory will employ about 1,000 people.
Continue Reading![Bridgestone Partner, Kingsway Tyres opens first Bedfordshire garage](https://www.tyrepress.com/wp-content/uploads/2015/04/Kingsway-Tyres-Bedfordshire.jpg)
Bridgestone Partner, Kingsway Tyres opens first Bedfordshire garage
Kingsway Tyres has opened its first depot in Bedfordshire as part of its expansion plans. The chain’s 17th garage in Old Bridge Way, Shefford, will provide premium and economy tyres and servicing solutions for cars, vans, 4x4 and commercial fleets, supported by 24 hour tyre related breakdown service vehicles, covering Bedford, Sandy, Stevenage, Letchworth, Hitchin, Luton, Dunstable, Milton Keynes plus the surrounding areas. The new opening has created four new jobs.
Continue Reading![Liquid a ‘strategic partner’ on Davanti tyre project](https://www.tyrepress.com/wp-content/uploads/2015/04/davanti.jpg)
Liquid a ‘strategic partner’ on Davanti tyre project
It’s only a month until the first tyres in the new Davanti range are shown to the public at Autopromotec in Bologna, and Liverpool-based creative agency Liquid has expressed the pride it feels in presenting the brand to consumers. Liquid says it has been involved in every aspect of developing the brand – the agency was responsible for generating the name Davanti, designing the logo and developing all marketing and advertising materials. It has also worked with traditional and social media to elevate brand recognition.
Continue ReadingGoodyear plant to be built in Mexico
According to numerous news sources, including Reuters and The Wall Street Journal, Goodyear Tire & Rubber will later today announce its decision to locate the company’s new factory for the Americas in Mexico’s San Luis Potosi state. Mexico was on a shortlist of potential sites for the new plant that reportedly also included Brazil, Columbia and, initially at least, the USA. Mexico’s President, Enrique Peña Nieto, will apparently announce his country’s selection by Goodyear together with senior company executives.
Continue ReadingCurrency effects help Trelleborg Wheel Systems maintain Q1 net sales
Net sales at Trelleborg Wheel Systems remained steady in the first three months of 2015 thanks to exchange rate effects, despite an 11 per cent year-on-year decline in organic sales. The Trelleborg business unit responsible for tyres and wheels achieved sales of SEK 1,122 million (£86.3 million), just a whisker under the SEK 1,126 million earned in the first quarter of 2014.
Continue ReadingMichelin sales, volumes up in Q1
A positive 9.7 per cent currency effect due to euro weakness helped Michelin achieve 5.6 per cent year-on-year growth in net sales in the first quarter of 2015, even though a 5.1 per cent worsening in price mix whittled €245 million from this top line result. Net sales for the three-month period amounted to €5.02 billion. Overall sales volumes rose 1.5 per cent, performance described by Michelin CFO Marc Henry as “faster than market growth.” He added that this performance was “in line” with declining B2B markets for truck and specialty tyres, and showed faster growth than B2C passenger car and light commercial tyre markets.
Continue Reading![Pirelli a ‘top partner’ for Zanetti & Friends charity football match](https://www.tyrepress.com/wp-content/uploads/2015/04/zanetti.jpg)
Pirelli a ‘top partner’ for Zanetti & Friends charity football match
Pirelli has confirmed its participation as top partner in the ‘Zanetti & Friends’ charity football match scheduled to take place in Milan’s San Siro stadium on 4 May. The event will see current and recent players from local and international football clubs take the field, players who share a connection with the city of Milan and with Inter Milan’s ‘Il Capitano’, Javier Zanetti. In addition to serving as vice-president of F.C. Internazionale Milano, the former team captain is also founder of the PUPI Foundation, an organisation focused on helping children and teenagers. The PUPI Foundation has organised the Zanetti & Friends Match for Expo to highlight the issue of and support children’s nutrition.
Continue ReadingPelmar confirms TST conflict is over
Executives at Pelmar Engineering Group (Pelmar) have confirmed that a disagreement between the company and Tianjin Saixiang Technology Co. Ltd. (TST) has been resolved. Pelmar’s executive chairman Jacob Peled told Tyres & Accessories that “the conflict between TST and Pelmar has ended in an amicable settlement”. The resolution appears to have occurred after TST met its obligations towards Pelmar. As a result Pelmar cancelled the lawsuit it brought against TST in the Tianjin Court. In addition, it was also agreed that the two companies will resume their business relations and will continue to cooperate as before.
Continue Reading![Dunlop hires KINC for new PR campaign](https://www.tyrepress.com/wp-content/uploads/2015/04/kinc.jpg)
Dunlop hires KINC for new PR campaign
Sports and music marketing agency KINC, so its Facebook page divulges, is “super excited” that Dunlop has chosen it to develop a new public relations campaign for the tyre maker. KINC says work is already “well underway” to integrate current and new Dunlop ambassadors into a new brand positioning PR initiative that will target lifestyle and consumer media.
Continue Reading![Pirelli releases 2014 Annual Report](https://www.tyrepress.com/wp-content/uploads/2015/04/pirelli-annual-report.jpg)
Pirelli releases 2014 Annual Report
Pirelli has published its 2014 Annual Report. The 389 page tome, which can be downloaded from Tyrepress.com’s company profiles section, contains details of Pirellis production and financial performance, along with the tyre makers priorities for 2015 and other specific areas of interest.
Continue ReadingTrelleborg 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.
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