John Salvatore the new Carlstar CEO
The Carlstar Group, LLC named John C. Salvatore as chief executive officer on 16 March, with the appointment effective immediately. Dino Cusumano, Partner of American Industrial Partners, Carlstar’s majority shareholder commented: “We are very excited to have John lead Carlstar as its CEO. John brings with him a long history of leadership and accomplishments in […]
Continue ReadingVidachim to cut staff by 150, not 314
Bulgarian-based car tyre manufacturer Vidachim has reduced the scale of planned staff cuts from 314 to 150. The new plans were announced on Monday 16 March 2015 after a meeting of Energy Minister Temenuzhka Petkova with workers and senior executives of the plant. However, it is not clear how long these measures can delay further […]
Continue ReadingMichelin: European tyre demand improving, emerging markets face headwinds
Michelin’s February tyre demand data shows a sequential improvement in replacement demand in most markets. With China and Brazil being the only real exceptions, basically every other showed month-on-month increases - the first positive uptick months. The situation in China however, is somewhat bleaker. According to the Michelin tyre demand data, Chinese passenger car tyre replacement demand dropped -13 per cent from growth of +18 per cent in January. “This is a worrying indicator for broader China consumer demand”, Morgan Stanley market analysts wrote in an investor’s note data 13 March 2015.
Continue ReadingKumho’s Georgia factory to be funded by bond sale
Kumho Tire will finance the construction of its new one million square-foot manufacturing plant in Macon, Georgia, USA through bond issuance. Local news sources report that the Macon-Bibb County Industrial Authority agreed to issue bonds of up to $600 million for the plant in December. Kumho will sell up to $300 million of the total […]
Continue ReadingAlliance recalls certain 396 tyres
Alliance Tire Group’s Alliance Tire Americas division is recalling certain Alliance 396 agricultural equipment tyres due to a deflation risk. The tyres in question, which are size 445/65 R22.5, were manufactured between 22 April 2013 to 23 November 2014. Some other 600/50 R22.5 products, which were manufactured between 27 May 2013 and 2 November 2014 […]
Continue ReadingNDI seeks new partners for a greater presence in Germany
Danish tyre wholesaler Nordisk Dæk Import (NDI) aims to significantly develop its market presence in neighbouring Germany. Carsten Andersen, area sales manager for the Brørup-based company, says NDI is currently searching for a dozen or so partners to take over distribution of its Nordexx private brand in Germany.
Continue ReadingTire Discounter Group expands into Ontario
Tire Discounter Group Inc has expanded with the opening of a new distribution centre located in Ottawa, Ontario. The new facility will provide daily service for customers in metropolitan Ottawa and surrounding area. “Based on current market conditions, we see continued opportunities for growth in Eastern Canada said Richard Bender vice president business operations.” We […]
Continue ReadingWanli manufacturer, Chinese vehicle maker erecting JV tyre plant
Last month, groundbreaking took place on a new tyre factory intended to produce some 2 million all-steel truck tyres a year and serve as an original equipment supplier for China Anhui Jianghuai Automobile (JAC). The vehicle manufacturer is partnering in a joint venture project together with Guangzhou Fengli Tire & Rubber Co., Ltd. The tyre maker is itself, in turn, a joint venture between South China Tire & Rubber, the company behind the Wanli and Sunny tyre brands, and Guangzhou International Group Co., Ltd., an authorised Chinese state-owned assets operating unit.
Continue ReadingDeere & Company awards Michelin for supply excellence
Michelin group has earned multiple recognitions from US heavy equipment manufacturer Deere & Company for products and support delivered by Michelin’s operating units around the world to various John Deere equipment segments. The Michelin group’s Agricultural and Earthmover operating units were named “Supplier of the Year” as well as a partner-level supplier for 2014. Partner-level supplier is Deere’s highest rating for suppliers under its ongoing “Achieving Excellence” initiative.
Continue ReadingSailun Tyres becomes World Child Cancer charity sponsor
Sailun has announced that it has become the exclusive automotive sponsor of global charity World Child Cancer. The charity is dedicated solely to addressing the global inequality in diagnosing and treating children with cancer. Of the more than 200,000 children who develop cancer worldwide each year, 80 per cent are from low or middle income countries where fewer than five per cent will survive. The survival rate in high income countries is 80 per cent.
Continue ReadingInternational Tyre Colloquium comes to UK’s Surrey University
Following events in Delft, Berlin and Vienna in previous years, this year the fourth International Tyre Colloquium will be held from 20 to 21 April 2015 at the University of Surrey, Guildford, UK. The 4th Tyre Colloquium – an event that only runs every few years – will focus on topics related to modelling of tyres […]
Continue ReadingATG’s Yogesh Mahansaria wins Ernst & Young Entrepreneur of the Year Awards 2014
Yogesh Mahansaria, founder and CEO of Alliance Tire Group, received the “Ernst & Young Entrepreneur of the Year Awards 2014” in the ‘manufacturing category’ in Mumbai in February. The distinction was awarded for the 16th time in India this year. The E&Y prize is the second Yogesh Mahansaria has won in a short, following the Forbes […]
Continue ReadingNexen targets Oceania with sports marketing in Australia and New Zealand
On 27 February Nexen Tire announcedits sponsorship of the ‘Geelong Cats’ Australian Football team and the ‘Chiefs’ New Zealand Rugby team. The two moves are described as being part of Nexen’s new sports marketing plans, which are intended to build brand awareness in the Oceania market. The plan is to leverage the profile of the two well-regarded teams. […]
Continue ReadingIndependent Scandinavian tyre dealers a focus for new Iceland Tyres range
Iceland has already lent its name to a supermarket chain specialising in frozen products, and now the northerly island is also associated with a brand of tyres aimed at Nordic markets. The newly-launched Iceland Tyres brand is promoted as delivering “safe driving in rough Nordic winter conditions.” Two products are currently listed in the Iceland Tyres portfolio – the non-studded Iceland Snow, which will be available this year in seven sizes for 15 and 16-inch rim diameters (with a further nine sizes for 14 to 17-inch rim diameters planned for next year), and the studded Iceland Ice, which will be released in a similar range of sizes.
Continue ReadingThere’s money in them tyres – Schaeffler tops Germany’s rich list
He appeared together with his mother at the apex of financial publication Bilanz’s list of the 500 richest Germans last autumn, and now Georg Schaeffler has been named the richest person in Germany by Forbes magazine. According to Forbes, the 80 per cent owner in Continental majority shareholder the Schaeffler Group possesses assets worth US$26.9 billion, which secures him 21st place in the publication’s global rich list and first in Germany. His top spot in the national table sees him ahead of a trio of discount supermarket moguls – the owners of Aldi Süd (which operates Aldi in the UK), Lidl and Aldi Nord.
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