Another Step Forward: Trelleborg explains rationale behind recent acquisitions
Recent months have seen a flurry of expansion and acquisition activity at Trelleborg Wheel Systems. First the company enhanced its position in the European solid tyre market through the acquisition of Watts’ industrial tyre business towards the end of 2010 (it was officially finalised during February 2011). Then came the acquisition of the pneumatic tyre production lines at the former Hebei Starbright plant, which the company bought from Maine Tire in the US. Most recently the company launched its TMBlue eco-concept range at the SIMA show in Paris at the end of February. Tyres & Accessories was on hand to hear further details about the thinking behind the recent developments and noticed a significant nod in the direction of further expansion in the emerging markets.
Continue ReadingRhein Chemie sales up 40% in 2010
In 2010 the Rhein Chemie Group achieved a 40 per cent year-on-year growth in sales; the wholly owned Lanxess subsidiary says its 283 million euro sales for the year outstrip those of the “record” year 2008. “We can clearly see that the rigorous implementation of our growth strategy is bearing fruit,” stated Dr. Anno Borkowsky, CEO and president of Rhein Chemie Rheinau GmbH. “In Germany, we increased sales by 30 per cent while in Asia growth was even stronger.”
Continue ReadingEmerging market interest in value-generating products key to expansion – Trelleborg
Emerging markets such as the BRIC countries are expected to drive growth for Trelleborg Wheel Systems over the next few years. In the Trelleborg Group’s 2010 annual report, Maurizio Vischi, president of the business area responsible for producing industrial and agricultural tyres, said “emerging markets as Brazil, China and Russia have begun to show more interest in high-tech products and products that generate value. This provides significant expansion potential through greater presence in these markets.” Vischi admitted that that Trelleborg expects only “restricted” growth in Western Europe and North America, where the business area already counts as “one of the principal players.”
Continue ReadingNokian 2010 annual report released
Nokian Tyres has released its annual report for 2010, a year in which, said CEO Kim Gran, “demand, sales and profitability saw a clear positive turn.” Order intake in the company’s core Nordic and Russian markets experienced “rapid growth” in the second quarter, Gran added, while Nokian was “delighted by the strong growth seen in the sales and profitability of our Central and Eastern European operations.” In the annual report the Finnish tyre maker stated its key strategic objectives into the year 2015, including Nordic market leadership as a tyre manufacturer and distributor plus the leading manufacturer and distributor of premium car tyres in Russia and the CIS as well as one of the top suppliers of special heavy tyres in this region.
Continue ReadingLanxess net income up tenfold in 2010
Demand for synthetic rubbers from tyre industry customers proved a strong driver of growth for Lanxess last year. The German specialty chemicals company describes its 2010 results as “outstanding” and believes its performance was aided by the company’s strategic set-up and a general business recovery. Announcing the firm’s annual results at its annual press conference on March 17, Lanxess chief executive officer Axel C. Heitmann said the company’s “growth story is set to continue” following last year and an “excellent” start to 2011.
Continue ReadingPirelli admitted into John Deere Hall of Fame
The ‘hall of fame’ is a uniquely American way of showing esteem to a person or company; typically, only those who display exceptional skill or merit in their specialty area are admitted. It is thus with pride that Pirelli has announced its Agro business unit has been admitted into the John Deere Hall of Fame.
Continue ReadingStapleton’s Confirms NETE Purchase
Stapleton’s Tyre Services has officially confirmed that on 28 February 2011 it acquired all the shares of North Eastern Tyre & Exhaust Limited (NETE). However, an official statement issued by the company reported that NETE will continue to trade as a wholly-owned subsidiary of Stapleton’s Tyre Services. Stapleton’s representatives said the company intends to complement NETE’s “professional approach to the market and their excellent customer service in order to ensure the future success of both companies.” No further details of the price or the terms have yet been released.
Continue ReadingSEC filing sheds light on Goodyear exec compensation
A Securities and Exchange Commission filing submitted by Goodyear Tire & Rubber reveals the tyre maker’s top executives received considerable compensation increases last year, despite the company posting another annual loss.
Continue ReadingNew Conti brand communication strategy targets changing demographics
A complete review of Continental’s passenger car tyre segment brand communication strategy has been carried out and the tyre maker reports that a resultant new global campaign is already starting to be implemented online in some markets. The new strategy is, says Conti, “integrated and highly target-group specific.” What this means is Continental recognises that “in the years to come, women and families will increasingly become one of the most important target groups alongside the still mainly male tyre buyers.” Thus the new campaign will focus on both female and male drivers, with and without children and in different driving situations.
Continue Reading100 new jobs to result from Schrader/Ford TPMS deal
A contract signed between Schrader Electronics and the Ford Motor Company has the potential to create up to 100 new automotive sector jobs in Northern Ireland. Under the terms of the agreement, Schrader Electronics will supply its direct tyre pressure monitoring systems for fitment to Ford’s European model range between 2012 and 2015. This supply deal includes equipment for fitment on the strong-selling Ford Fiesta and Focus ranges.
Continue ReadingTrelleborg appoints new group CFO
The upcoming retirement of Trelleborg Group CFO Bo Jacobsson created a vacancy that has now been filled by newcomer to the company, Carolina Dybeck Happe. The 38 year old former CFO of Swedish firm Assa Abloy’s EMEA region will take over the role on April 26; to ensure a smooth transition Jacobsson will remain with Trelleborg until retiring in June.
Continue ReadingCKT sale to have “no impact” on Kenda product supply
Kenda USA officials say that despite Kenda Rubber’s decision to sell its ownership stake in Cooper Kenda Tire, the move is a positive for the company. At the start of March, Cooper Tire & Rubber bought out Kenda Rubber’s 50 per cent share in their joint venture passenger tyre production facility in China. According to Kenda, the plant only produced Cooper branded and Cooper associate brand passenger, 4x4 and light commercial tyres, and thus the sale “has no impact to the current supply of Kenda products.”
Continue ReadingPhillips Carbon Black withdraws from Evonik bidding
The race to acquire Evonik Industries’ carbon black business has narrowed following the withdrawal of Phillips Carbon Black from the final round of the bidding process. Dow Jones Newswires reports the company failed to submit a bid before the final deadline, leaving three or four contenders in the running – Advent International, Triton Partners, Rhone Capital, and possibly Cabot Corp., are said to still be interested.
Continue ReadingCooper acquires 100% share in Kunshan JV operation
By mid-March Cooper Tire & Rubber should be the proud 100 per cent owner of Cooper Kenda Tire. Upon finalisation of the US$116.5 million transaction the former 50 per cent Cooper owned joint venture operation will be renamed Cooper Kunshan Tire (contingent to government approval) in recognition of the city in China where it is headquartered. According to Cooper Tire, the transaction should be completed by March 15 through a wholly-owned company subsidiary.
Continue ReadingConti to support ‘double-digit’ 2011 growth with increased investment
Following a 2010 in which set targets were “clearly surpassed”, Continental AG says it aims to achieve double-digit growth this year. At the company’s Annual Financial Press Conference, held on March 3 in the German city of Frankfurt, CEO Dr. Elmar Degenhart reported a sales growth of almost 30 per cent, to 26 billion euros. This represents record sales for the automotive supplier, a personal best also matched by a record operating result.
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