Yongtai Chemical-owned Covpress in administration
Coventry-based car panel OE supplier Covpress entered administration at the end of September, with administrators stressing there are no current plans for redundancies amongst the 800 staff. Rather there is a good chance the business will be sold as a going concern. So far around 50 companies are said to have expressed an interest. But with business on the up at Covpress, could a deflated Chinese tyre business be behind the news?
Continue ReadingFM Tyres a reliable partner to wholesalers
The last time Tyres & Accessories spoke with Frank van Leeuwen, he was still managing director at Dutch wholesaler Euro-Tyre. He left the company in 2014 and subsequently formed a new business with former Euro-Tyre purchasing manager Mischa Driessen; today the pair are still based in Venlo as shareholders and partners in FM Tyres, and draw upon their more than 20 years of experience in the tyre business in their new role as “reliable partner” to wholesalers around the world.
Continue ReadingTech buys Salvadori
Technical Rubber Company, Inc. (the Johnson, Ohio-based firm also known as Tech or TRC) has bought of Rovereto, Italy-based Salvadori S.r.l in a transaction that completed last week.
Continue ReadingAmerican launch for Pirelli P Zero
Following its global launch in Portugal this April, Pirelli has now introduced its newest P Zero to North American dealers ahead of SEMA 2016. The new P Zero is available in three variants tailor-made for specific cars, applications and performance levels: The P Zero for luxury saloons, P Zero for sports cars and the P Zero Corsa, a slick-like motorsport tyre with an “aggressive” tread design.
Continue ReadingContinental celebrates official start of US factory project
An official groundbreaking ceremony was held yesterday for the new Continental tyre factory in the USA. The ceremony, attended by federal, state and local governmental officials, marked the beginning of the construction process, which is expected to be completed in 2019.
Continue ReadingTitan 3Q figures show lower sales, but also reduced losses
Titan published third quarter 2016 financial shows sales for the third quarter of 2016 were $306.2 million, down 0.9 per cent, compared to $308.8 million in the third quarter of 2015. Gross profit for the third quarter of 2016 was $33.0 million, or 10.8 per cent of net sales, compared to $26.2 million, or 8.5 per cent of net sales, for the third quarter of 2015.
Continue ReadingAufine highlights new winter, truck ranges
Passenger car tyres account for the majority of Qingdao-based tyre maker Aufine Group’s production, and company general manager David Sun shares that Aufine is now selling these products throughout all of Europe. One range that is selling particularly well within the region is the new Aufine winter car tyre line, the Supergrip S1, which is manufactured in 19 sizes for 13 to 17-inch rim diameters.
Continue ReadingSafe-Run: The legal ‘war’ with VMI has just begun
Following VMI’s statement saying it had won the latest round of legal wrangling related to a patent dispute with Safe-Run, the Chinese firm, which describes itself as “one of VMI’s biggest competitors in China” put out a counter statement questioning VMI’s perspective.
Continue ReadingMichelin COO Florent Menegaux explains the thinking behind this year’s investments
During the course of the 2016 Paris Motor Show, Tyres & Accessories took time out with Florent Menegaux (Michelin chief operating officer in charge of product and core business). Our conversation covered four key areas: Mobility – that is, Michelin’s increasingly evident philosophical evolution away from simply being a tyre maker towards being a mobility provider; Products and services – in other words the traditional well-established product centres the company is best known for (as well as the innovations connection to and rising from these areas); Experiences – what has traditionally been known as the maps and guides part of Michelin’s operations, but which is increasingly seeking to connect the firm’s excellent brand and content with technology and monetisation options; and finally distribution – the actual means of getting products (and services) from the manufacturer to the end-user via the professional supply chain.
Continue ReadingExpansion of Goodyear tyre plant in China begins
When Goodyear Tire & Rubber announced plans last month to close its Philippsburg tyre plant in Germany, the company gave increasing demand for larger rim diameter tyre sizes – and a lack of infrastructure for producing these in Philippsburg – as a justification for the decision. Rather than invest in new equipment for the factory, Goodyear has decided to increase capacity for larger tyre sizes elsewhere in the world. Today, the tyre maker announced it has broken ground on a US$485 million expansion of its facility in China’s Pulandian district. Goodyear chairman, chief executive officer and president Richard J. Kramer took part in a ceremony with Lu Lin, deputy mayor of the city of Dalian.
Continue ReadingDRT buys Pinova for US$150 million
DRT has agreed to buy Pinova Inc., the specialty resins and chemical intermediates manufacturer. DRT will acquire Pinova Inc. and its diversified portfolio of industry applications as well as its Brunswick manufacturing site from Symrise for US$150 million. Pinova Inc.’s 2016 sales are expected to total about $111 million. As part of the transaction, Symrise and DRT have also agreed on a co-operation for individual product development projects as well as for the supply of strategic raw materials.
Continue ReadingGoodyear sponsors Pro Football Hall of Fame: video
The Goodyear Tire & Rubber Company has announced its sponsorship of the Pro Football Hall of Fame. The company has a long association with American Football, including the Goodyear Blimp’s aerial television coverage, which has run for more than 60 years. The Hall of Fame is located, like Goodyear’s headquarters, in Ohio, where the National Football League was founded. Hundreds of thousands of fans around the world visit the campus in Canton, where a $500 million Hall of Fame village is currently under development.
Continue ReadingDOT issues cybersecurity guidance
The US Department of Transportations (DOT) National Highway Traffic Safety Administration (NHTSA) has issued guidance to improve vehicle cybersecurity. The guidance offers best practices to help protect against breaches and other security failures that put motor vehicle safety at risk, according to US Transportation Secretary Anthony Foxx.
Continue ReadingMarubeni buys stake in Mexican tyre retailer
On 24 October Japanese conglomerate Marubeni announced it had purchased a large minority shareholding in Mexican tyre dealer Radial Llantas. According to the company, Marubeni has bought 49 per cent of the shares in Radial Llantas. The pricetag for the stockholding is said to be “several billion yen”, according to Wards Auto.
Continue ReadingNissan commits to Sunderland plant despite Brexit
Nissan Motor Company Ltd. has committed to producing the next Qashqai crossover vehicle in Sunderland. Executives had warned that this may not happen following the UK’s decision to leave the European Union. However, not only has the company received satisfactory assurances to continue with production of the Qashqai for the next few years (the next Qashqai model is expected to be made in 2018 or 2019). Nissan also confirmed that it will add production of the next X-Trail model at its Sunderland as well in something of a surprise move.
Continue Reading