ETRMA: Industry needs ‘sustainable regulatory framework’
As the market approached the first anniversary of tyre labelling, at the start of October industry body ETRMA expressed the need for consistency and sustainability in regulation across Europe. “The European Tyre and Rubber Industry has a strong manufacturing presence in Europe and needs a sustainable regulatory framework, well-coordinated among different policy areas, to remain competitive despite this long economic crisis”, said Patrick Lepercq, President of ETRMA at the association’s board meeting today.
Continue ReadingMichelin announces employee share offer
Michelin says it wants its employees to be “more closely associated with the Group’s future growth and development”, and therefore the company is carrying out an offering of shares reserved for current employees of the company and those companies in which Michelin holds at least 50 per cent share capital. The share offer will be conducted in accordance with the conditions set out in the French Labor Code and the French Code of Commerce and is open to employees who are members of the Plan d’Epargne Groupe (Group Savings Plan).
Continue ReadingUSW deal brings Cooper closer to Apollo agreement
A merger-facilitating deal has been struck between Cooper Tire & Rubber and the United Steelworkers Union. On 30 October, the tyre maker entered into a tentative agreement with the United Steelworkers and United Steelworkers (USW) Local 207L (representing workers at the company’s Findlay plant) and Local 752L (Texarkana), along with USW Local 556L (Clarksdale). Details of the tentative agreement have not yet been disclosed –the agreement must first meet with Apollo’s approval and be ratified by union members.
Continue ReadingNTDA/Lanxess report: More budget tyres sold post labelling
Following on from the headline news that Lanxess/NTDA published at report detailing a UK retail perspective on 16 October, Tyres & Accessories is now publishing further details and discussion of the complete report . The initial findings were that the tyre labelling has so far been something of a “missed opportunity” for the tyre business […]
Continue ReadingBridgestone launches Movember campaign
Those of you sporting a lustrous ‘Burt Reynolds’, a horseshoe or full imperial, or even just run of the mill upper lip hair, will definitely want to keep the razor at arm’s length this month. Today marks the start of ‘Movember’, and Bridgestone is getting in on the action. The facially hirsute-friendly company has launched its Bridgestone Bros campaign, which follows a moustache-festooned classic VW campervan as it cruises across Europe searching for the “biggest, bushiest and most brilliant moustaches” and encouraging people to get involved to raise money and awareness for men’s health.
Continue ReadingWestlake Wishes foundation launched
The manufacturer, Westlake and one of its global distributors, the Al Dobowi Group have launched the new Westlake Wishes foundation. Ge Guorong, the CEO of Westlake, was joined by Al Dobowi’s Harjeev Kandhari and 30 European Westlake distributor partners as the foundation’s first initiative was announced.
Continue ReadingAfter ‘somewhat lower’ 2013, Nokian expects ‘profitable growth’ next year
Upon announcing its third quarter 2013 results, Nokian Tyres points out that although its group sales decreased 3.0 per cent year-on-year to €357.0 million in the three months to 30 September, the company’s profitability remained strong and it improved market share. Operating profit rose 11.9 per cent to €95.7 million and profit for the period amounted to €70.9 million. Earnings per share were up €0.08 to €0.53.
Continue ReadingGoodyear says net income a Q3 record
Goodyear Tire & Rubber chairman and chief executive officer Richard J. Kramer says the company’s third quarter results “demonstrate continued sustainable earnings growth and the type of disciplined execution needed to deliver on our targets in 2013 and beyond.”
Continue ReadingTitan gets into tyre reclamation business
Titan International’s Titan Mining Services business has launched an operation to reclaim raw materials from mining tyres. Titan Tire Reclamation Corp. (TTRC) will work together with joint-venture company Green Carbon, using the latter’s pyrolysis process.
Continue ReadingGiti Tire reinforces European, OE focus – Hannover ‘Technical Platform’ takes on regional product development
One size fits all is a poor solution when it comes to clothing, and it’s also an unacceptable compromise for tyres. What’s good for one market may gain a lukewarm reception in the next. For this reason Giti Tire, like other tyre majors, designs and manufactures market-specific products. This commitment to delivering tyres tailored to regional conditions and preferences was given a significant boost this year with the establishment of new research and development centres in the US and Germany. Towards the end of October, Tyres & Accessories visited Giti Tire’s new European Research and Development Centre just north of Hannover to find out more about the new facility and the people who’ll lead it.
Continue ReadingHankook reports modest Q3 growth
During the third quarter of 2013, revenues at Hankook Tire edged up 0.8 per cent to KRW 1.80 trillion billion (£1.06 billion, €1.22 billion), while operating profit of KRW 244.2 billion (£143.3 million, €165.9 million) was 5.9 per cent higher than the same time last year yet 10.4 per cent lower than in the second quarter of 2013. Operating profit to sales ratio was 13.6 per cent, up 9.9 per cent year-on-year but down 10.0 per cent quarter-on-quarter.
Continue ReadingNew Maxxis pages ‘more than just a website’
Maxxis International has launched a new website, which the company says is designed to showcase the many facets of the growing brand. www.Maxxis.co.uk offers new functionality, as well as opening the door to anyone looking to find out more about the fast-growing tyre brand.
Continue ReadingMitas extends Continental trademark license until 2019
Mitas AS has will continue to be able to produce Continental-branded tyres under licence until the end of 2019, following an extension of the company’s trademark licence for an additional five years. Mitas acquired the agricultural tyre business unit from Continental AG in 2004 and is currently producing Mitas- and Cultor-branded tyres as well as Continental tyres under licence.
Continue ReadingBridgestone adopts Bandag as sole European premium retread brand
The Bandag brand is to be the only premium retread brand name used by Bridgestone in Europe. The company has decided to phase out the Bridgestone brand on its retreading products within our region as it considers Bandag to be the “world’s leading retread brand.” Therefore, current Bridgestone-branded pre-cured tread products will gradually be phased out in favour of Bandag-branded products.
Continue ReadingMichelin turnover heads south in Q3
The Michelin share price dipped by more than four per cent following the announcement of the company’s results for the quarter ending 30 September. By 3:30pm Paris time, Michelin shares were trading for €76.47, down 4.11 per cent on the opening price.
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