Apollo maintains profit margins despite Africa costs
Apollo Tyres Ltd has reported consolidated revenue for the nine months (April to December) of FY15 closed at s 96.270 billion rupees (£1.018 billion; 1.369 billion euros; 1.552 billion). Pre-tax profits (EBITDA), without exceptional items, stood at 14.72 billion rupees (£155.682 million; 209.404 million euros; $237.372), up 0.9 billion rupees compared to the same period […]
Continue ReadingCooper appoints ex-Apollo exec Ceneviz
Cooper Tire & Rubber Company has appointed ex Apollo Verdestein European president Luis Ceneviz as its managing director - Latin America Tire Operations effective 1 March 2015. In this new role, Ceneviz will be responsible for the company’s business throughout Latin America, including Central and South America, as well as Mexico, where Cooper has a sales and marketing organization and participates in a joint venture tyre manufacturing operation near Guadalajara. He will report to Brad Hughes, Cooper’s chief operating officer.
Continue ReadingNexen Tire profits and sales up in 2014
Nexen Tire reports that operating earnings increased 18 per cent in 2014. According to the Korea-based tyre manufacturer, this was based on lower raw material costs and improved sales. Meanwhile sales were 1.7 per cent higher at US$1.68 billion, raising the operating ratio nearly two points to 11.9 per cent. Net income rose 4.7 per […]
Continue ReadingPhillips Carbon Black CFO resigns
Altaf Jiwani, director and chief financial officer of Phillips Carbon Black Ltd resigned at the close of business on 30 January 2015. The news, which originates from regulatory filings, adds that Raj Kumar Gupta has been appointed as CFO in his place, effective 1 February 2015. At the same time Kusum Dadoo has been appointed […]
Continue ReadingThailand fire closes Linglong plant
Linglong’s Thailand tyre factory is likely to be closed for the next 30 days as authorities investigate the cause of the recent fire. While six warehousing structures reportedly bore the brunt of the 1 February fire (which caused roughly US$40 million of damage), leaving production free to continue, it seems the size and scale of […]
Continue ReadingNew logo for TVS Srichakra
Indian tyre maker TVS Srichakra has unveiled its new brand identity and logo. The company says the new ‘TVS Tyres’ logo “reinforces the clarity in purpose” for the brand while the eagle depicted beneath the tyre “highlights the features of power, manoeuvrability and the superior grip of the products.” The arrows following the name TVS Tyres, similarly, are said to convey “a perpetual forward motion.”
Continue ReadingA tale of two markets…
Global markets and tyre markets interact with each other. With economics and indeed the tyre market being more “global” than ever, events in one market are bound to have a greater impact on other markets than ever. And with Europe having experienced its share of political and especially economic instability in the last decade, while […]
Continue ReadingFire causes serious damage at Linglong’s Thailand tyre plant
According to local news sources, Shandong Linglong Tyre Co. Ltd’s consumer tyre factory in Thailand has been badly damaged by fire. Six of the 15 warehouses at the LLIT Thailand facility in Chonburi province are said to have been destroyed in the blaze, which began on 1 February have allegedly caused an estimated US$40 million of damage. The manufacturing facility at the site has been temporarily closed.
Continue ReadingCooper appoints Hughes as COO
On 30 January Cooper Tire & Rubber Company has appointed has promoted Brad Hughes into the newly created position of senior vice president and chief operating officer, effective immediately. In this role, Hughes has responsibility for Cooper’s worldwide operations throughout North America, Asia, Europe and Latin America. He has been with the company for five years, beginning in 2009 as chief financial officer. In July 2014, he was appointed to lead the company’s International segment as president—International Tire Operations.
Continue ReadingContinental moves ‘MENA’ replacement tyre operations to Dubai
Continental has relocated its replacement market PLT (passenger and light truck tyre) and (CVT) commercial vehicle tyre business operations for the Middle East and North Africa (MENA) region from the company’s headquarters site in Hanover, Germany to Dubai. This shift relates to the 29-country region’s marketing, sales, customer services and controlling functions.
Continue ReadingApollo Tyres negotiating European original equipment deals
Apollo Tyres is reportedly in discussions with several vehicle manufacturers in Europe regarding the supply of original equipment tyres. Speaking with Indian publication The Financial Express, vice-chairman and managing director Neeraj Kanwar said that the list of companies the tyre makers is in talks with includes BMW, Volkswagen and General Motors.
Continue ReadingAeolus sponsored Dongfeng finishes first in home port of Sanya
Aeolus became platinum sponsor of the Dongfeng Racing Team in the Volvo Ocean Race this season (2014/15), and now for the first time in in the Race’s 41-year history a Chinese team has won a leg. After leading the fleet virtually all the way from Abu Dhabi to Sanya in China, over more than 5,000 miles of intense ocean racing, Dongfeng finally crossed the finish line in first place as the sun rose over Sanya (23:31:38 UTC) in a time of 23 days, 13 hours, 31 minutes and 38 seconds.
Continue ReadingFrench, German and Italian laboratories pool resources in ERRLAB initiative
On 26 January the LRCCP, DIK and CERISIE rubber laboratories from France, Germany and Italy respectively signed up to the ERRLAB – an informal network rubber research and testing in rubber facilities. As a result of the move more than 100 highly rubber specialized doctors, engineers and technicians are committed to the project.
Continue ReadingRecycled EV batteries to be used in power grid
A project is bringing Bosch, the BMW Group and Vattenfall together sees the companies reuse old electric vehicle batteries to form a large-scale energy storage system in Hamburg. Bosch, BMW, and Vattenfall believe in the concept to the extent they have launched the Second Life Batteries alliance. BMW is supplying batteries from its ActiveE and i3 electric vehicles, while Vattenfall has agreed to operate the massive storage system at its site for a period of 10 years. Bosch is in charge of integrating the batteries and managing the system. The storage solution will become part of an already existing Vattenfall virtual power plant. This allows the partners to combine various small, decentralized power generating systems to market them as a shared power plant.
Continue ReadingIndia’s JK Tyre improves debt rating
JK Tyre & Industries has raised its short and long term debt ratings from A1 to A1+ and A to A+ respectively. Arun K Bajoria, president of JK Tyre, told The Times of India that the improved credit ratings were “testimony to JK Tyres strong fundamentals.”
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