Cooper reports $6 million 2Q loss, international business beat 2019 result
Cooper Tire & Rubber Company reported a second quarter 2020 net loss of US$6 million on 3 August 2020 compared with net income of $9 million in the same period last year. Net sales decreased 26.9 per cent to $496 million. Operating profit was $5 million, or 1.1 per cent of net sales, compared to operating profit of $32 million (4.7 per cent of net sales) in 2019.
Jason’s Tyres distributing Galaxy OTR tyre brand in Benelux
Alliance Tire Group (ATG), A Yokohama Rubber Corporation group company, has appointed Jason’s Tyres as its Galaxy OTR tyre brand distributor in the Belgium, Netherlands and Luxembourg (Benelux) region. An OTR tyre specialist with 20 years of experience, the Jason’s Tyres Extreme division will distribute the entire portfolio of both bias and radial Galaxy OTR tyres in the earthmoving segment with immediate effect.
SEMA, the US Specialty Equipment Market Association, has cancelled its 2020 Show, due to take place 3-7 November in Las Vegas. The association said it made the decision due to Covid-19 and concerns that event facilities and services will be unavailable. It was informed by difficulties in preparations arising from “mounting uncertainty” about the show’s status. It added that full refunds for SEMA Show exhibitor booth deposits and attendee registration fees will be issued.
Goodyear expanding direct online tyre sales across Europe
Goodyear has been marketing its passenger car tyres in Germany directly to end users for fitting by a listed partner for roughly six months. And for years before that there has been a noticeable trend towards online selling. Following on from our online preview article, Tyres & Accessories’ German group publication Neue Reifenzeitung interviewed David Anckaert, vice president Commercial Europe at The Goodyear Tire & Rubber Company and began by asking: is it too early to draw initial conclusions? And where’s next?
Goodyear Tire & Rubber reported a Q2 2020 net loss of $696 million ($2.97 per share) compared to net income of $54 million ($0.23 per share) a year ago in financial results released 31 July 2020. Goodyears second quarter 2020 sales were $2.1 billion, down 41 per cent compared with a year ago. According to the company, the decline was driven by “lower industry volume and reduced sales from other tyre-related businesses.” However, there are signs that demand is improving.
Tatneft invests in Kazakhstan tyre factory joint venture
PJSC Tatneft and JSC Allur Group of Companies are establishing a joint tyre manufacturing facility in Kazakhstan. The factory will produce passenger car, light truck and truck tyres. The planned production capacity is 3 million passenger and light truck tyres as well as 0.5 million truck tyres per year. Production is expected to start in 2022. The project will create about 800 jobs, according to Tatneft.
Tencent and Linglong partner in online marketing drive
On July 10, Linglong Tire signed a strategic cooperation agreement with Tencent Cloud and Huazhi. As a result, the three parties will cooperate on smart marketing and industrial digitalization based on “the world’s first industrial Internet platform for the tyre industry, aiming at helping Linglong realize the transformation from traditional manufacturing to intelligent manufacturing, while seizing the aftermarket and improving the overall digital marketing and service level.”
Magna Tyres Group has opened a sales office in the Czech Republic. It said the move has been in response to demand for the Magna range of OTR ad specialist tyres in Eastern Europe. It added that it has been encouraged by “unutilised market potential in this region.” The region was previously serviced by its Polish office.
Linglong Tire signed a cooperation agreement with the Jinan Municipal People’s Government on 17 July 2020. As a result, Linglong Tire will settle its research and development and technological innovation base in the central district of Jinan. According to the agreement, the two parties will cooperate in terms of science and technology as well as personnel matters. The relevant leaders of Jinan and Linglongs chairman and president Wang Feng attended the signing ceremony.
Falken launches ‘Pass the Wheel’ social media campaign
The coronavirus pandemic has put many visits to dream destinations on hold, but Falken Tyres is using its social media feeds to provide some vicarious thrills. The Sumitomo tyre brand’s new ‘Pass the Wheel’ campaign comprises three beautifully shot videos to provide a virtual road trip along some of Europe’s most beautiful roads and passes. The videos show the drive from Zell am See in Austria, across Switzerland, Italy and France, and into Monaco. The campaign trailer has already clocked up 1.7 million views on Falken’s YouTube Channel.
GRI reiterates role of sustainability in a post-Covid world
Global demand for natural rubber is outpacing supply, so stakeholders in the global tyre industry need to ensure sustainability is a guiding ethos in its operations, GRI states. The Sri Lankan manufacturer says sustainability in sourcing, production and disposal are key to its goals.
Mahansaria Tyres Private Limited (MTPL) completes acquisition of EATD
Mahansaria Tyres Private Ltd (MTPL) has completed the previously announced acquisition of a majority stake in European Agriculture Tyre Distributor (EATD). As a result, EATD has relocated its operations from Strijen, The Netherlands, to Wallenhorst in Germany.
Engine products and drive systems supplier Dayco has opened a food bank at two of its Italian facilities, in order to further support those in need via the Italian Red Cross. The Covid-19 pandemic has negatively impacted the world economy and had serious consequences on a regional level, which has also affected many communities.
Cooper Tire Europe is supplying tyres to 4x4 tuner Brute Jeeps. Cooper will provide Brute, which focuses on creating exclusive customised editions of the Jeep Wrangler, with “professional off-road tyres”.