Aeolus launches 5-language European website, Facebook page
Aeolus reports that its new aeolus-europe.com is now live and offering information for tyre professionals and other visitors in five languages. The site presents company and product information in English, French, German, Italian and Spanish.
Continue ReadingRevenues down, profits up at Stamford Tyres
Singapore-based Stamford Tyres has posted a S$4.85 million (£2.36 million) profit in the second quarter of its current financial year, a marked contrast to the $2.97 million loss reported a year earlier. Revenue for the three months to 31 October 2013 amounted to $71.5 million (£34.8 million), down 12.1 per cent year-on-year. The company says the lower revenues are mainly attributable to weaker export sales of Sumo Firenza tyres and mining tyres.
Continue ReadingGori takes on advisory role at major Pirelli shareholder
Francesco Gori, who for many years until the start of 2012 held the office of chief executive officer at Pirelli Tyre – has been appointed to an advisory position at Pirelli’s second largest shareholder, Genoa-based Malacalza Invesitmenti. In this role, Gori will take care of the company’s investment in Pirelli and provide analyses of the tyre industry.
Continue ReadingA.T.U. sold in restructuring deal
German-owned fast-fit network A.T.U. reports reaching a “decisive milestone in its financial repositioning.” The loss-making company’s management and majority shareholder (private equity group KKR) have reached a lock-up agreement with more than 80 per cent of its key bond creditors to reduce A.T.U.’s debt by more than €600 million and inject some €100 million of fresh equity into the firm. In addition, A.T.U. has received a senior secured, 2018-due credit line of more than €75 million from HayFin Capital Management.
Continue ReadingCam Systems’ connection drives new 30th anniversary campaign online
Cam Systems is launching its 30th anniversary with an online campaign including a new website at the beginning of 2014. The company will demonstrate its connection to tyre industry retailers, manufacturers, fleets and wholesalers in under the campaign header, ‘Connecting the tyre industry’.
Continue ReadingPCR production drop planned for Goodyear Dunlop’s Wittlich plant
Passenger car tyre production at Goodyear Dunlop’s Wittlich plant in Germany will decrease by at least 30 per cent next year. In local media source volksfreund.de, Wittlich works council chairman Joachim Weberskirch confirms rumours that PCR production “will be reduced from round 4,000 a day to 2,500 to 2,800 a day next year.” Weberskirch says this lowering of production is a response to declining sales of passenger car tyres throughout Europe.
Continue Reading[Re]defining brand boundaries?
When Ashley Croft used his farewell Tyre Wholesaler Group annual chairman’s speech to ask how we define what a “premium” tyre is, he captured something of this year’s tyre industry zeitgeist (click here for full coverage of the speech). Of the speech didn’t just deal with this question – it touched on labelling, part worns and what the UK industry is doing to improve the availability of good market data too – but, if the market ruminations of a number of key players are anything to go by, Croft wasn’t the only one to have been raising this question during the last 12 months.
Continue ReadingGoodyear to issue dividend on 5.875% preferred stock
On 2 December, the directors of The Goodyear Tire & Rubber Company have announced a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. According to the company, the dividend is payable 1 January 2014, to shareholders of record on 13 December 2013. The payout represents an annual rate of $2.9375 per share.
Continue ReadingYokohama and Kumho sign technology exchange, capital alliance MOU
The Yokohama Rubber Co., Ltd. And Kumho Tire Co., Inc. signed a Memorandum of Understanding (MOU) on 29 November. The companies report that they have agreed to open discussions relating to technology exchanges and a capital alliance based on “cross-shareholdings”.
Continue ReadingCooper opens purpose-built distribution centre in Belgrade
Cooper Tire has announced its plan to open a 6,800m2 distribution centre in conjunction with logistics expert, Milsped, in Belgrade, Serbia. The facility will be located alongside Milsped’s corporate headquarters in the Krnjesevci area of Belgrade. Due to open in December, the centre will have a storage capacity of up to 400,000 tyres.
Continue ReadingA dozen new companies join Conti & Schaeffler’s ‘Premium Circle’
At Continental and Schaeffler’s joint ‘Premium Supplier Day’ in November the two companies named 12 new companies as premium suppliers, and renewed the status of their 19 existing premium suppliers. At the ceremony, Günter Fella, Continental Automotives senior vice-president of purchasing, described the cooperation with its premium suppliers as the basis for a successful industrialisation of new technologies.
Continue ReadingGoodyear publishes road safety white paper
Goodyear Europe, Middle East and Africa (EMEA) published the findings of a new research project it undertook with the European Driving Schools Association (EFA) on 27 November. Alongside the research, Goodyear EMEA published a Road Safety White Paper – “Driving Safety First: Improving Road Safety For Novice Drivers”. The White Paper was introduced and discussed at a panel debate of the European Transport Safety Council in Brussels today.
Continue ReadingEuropeans are getting familiar with tyre labelling, but seldom use it
Rezulteo has offered the latest chapter in the reception history of European tyre labelling. Following on from research conducted by or on behalf of Goodyear Dunlop, NTDA/Lanxess, Encircle and the French tyre association (Syndicat des professionnels du pneu - SPP) tyre comparison website Rezulteo has weighed in with its own research conducted by the Ipsos Institute.
Continue ReadingToyota launches official parts and accessories eBay stores
Toyota GB has launched official Toyota and Lexus parts and accessories eBay stores. According to the company, the e-commerce initiative gives UK customers a new way to source the parts they need, with confidence that they are purchasing the genuine article, direct from Toyota’s central distribution centre in Lutterworth. It is also designed to reach a wider customer base, particularly among owners of older vehicles. Toyota GB is the first of Toyota’s European national marketing and sales companies to launch a full-scale e-commerce programme. It plans to further develop the online stores by introducing “click and collect” and “click and fit” services during 2014.
Continue ReadingLanxess: “Green Tyres” save truck drivers save truck drivers 8.5 per cent on fuel
Tyre compound supplier Lanxess reports that “green Tyres” can reduce fuel consumption of trucks by 8.5 per cent following a road test on truck tyres. Working in partnership with chemical logistics provider Talke, with results the results independently verified by TÜV Rheinland, Lanxess found a fleet of 300 trucks would save £1.3 million a year in fuel costs by using so-called “green tyres”, making rolling resistance a key criterion for carriers when purchasing tyres.
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