Kumho seeks to repurchase bus company
Around two years ago, Kumho Tire’s parent company the Kumho Asiana Group was heavily indebted, and sold its Kumho Buslines bus operation to a private equity company. Now the Korean conglomerate intends to repurchase the business, however concerns exist that the purchase price may end up being too high.
Continue ReadingOver 70 killed in explosion at Kunshan, China wheel plant
An explosion at Zhongrong Metal Products Co Ltd killed at least 70 people on 2 August. One source put the figure as high as 75. According to the local People’s Daily newspaper, 44 died in the initial blast with others being pronounced dead in hospital. National broadcaster CCTV reported that 187 others were injured in the blast, although other sources put this figure at 200 or more.
Continue ReadingEuropean Commission approves Bekaert acquisition of Pirelli steel cord business
The European Commission has approved the proposed acquisition of the steel tyre cord business of the Italian company Pirelli by its Belgian-based rival NV Bekaert SA under the EU Merger Regulation. According to an official statement dated 31 July, the commission concluded that the acquisition “would not raise competition concerns as the merged entitys customers, which are large, multinational tyre companies, have countervailing buyer power which is further strengthened by over-capacity in the steel tyre cord market.”
Continue ReadingOTR sector worth more than $100 million to China’s retreading industry
In its report, China Tire Retreading Industry - Overview and Forecast to 2017, Shanghai-based China Research and Intelligence states that China’s retreading market increased by more than ten per cent year-on-year to reach a volume of 18 million tyres in 2012. This volume represented a market scale in excess of RMB 6 billion (£575 million, $972 million). Most retreading is carried out by smaller operations, added China Research and Intelligence; of the 500 or so retreaders in China, in 2012 only 20 had an annual production of more than 100,000 units.
Continue ReadingTyres punctured to express Ukraine solidarity
The Belarus Digest reports that some residents of capital city Minsk have taking to puncturing tyres on Russian-registered cars they encounter. The publication opines that these attacks on cars bearing Russian number plates are in part occurring due to the increasingly “radical” attitude of some Belarusians towards Russia, a stance linked to the conflict in Ukraine. “These tyres appear to be just one example of their growing displeasure,” wrote the Belarus Digest’s Ryhor Astapenia. He added that this radicalisation is also the by-product of the authoritarian political climate in Belarus, under which “many feel they have no way to express their dissent other than by piercing the wheels of cars.”
Continue ReadingEU new CV market rises for 10th month in a row
Figures from European motoring organisation ACEA reveal that, in June, the EU market of new commercial vehicles expanded for the tenth consecutive month. Demand increased by 10.3 per cent, totalling 166,107 units. Growth prevailed in the van segment, as well as that of buses and coaches, while the truck segment declined. All major markets expanded, from 3.8 per cent in France to 6.5 per cent in Germany, 8.6 per cent in Italy, 18.9 per cent in Spain and 25.5 per cent in the UK.
Continue ReadingSuperior Industries closing Arkansas wheel factory
Yesterday Superior Industries International, Inc. announced it will close its Rogers, Arkansas wheel manufacturing plant as part of an initiative to cut costs and increase competitiveness. The firm expects to cease operations at Rogers by the end of 2014. Production will be shifted to other Superior manufacturing facilities, including those in Fayetteville, Arkansas, and Chihuahua, Mexico, and is anticipated to generate a net $15 million labour cost savings year-over-year. Approximately 500 jobs will be lost.
Continue ReadingFinal determination given in Toyo design infringement claim
In its final determination on the tyre design patent infringement complaint that was filed by Toyo Tire & Rubber Co., Ltd. and Toyo Tire Holdings of Americas on 20 September 2013, the US International Trade Commission issued limited exclusion orders and cease-and-desist orders to the eight remaining respondents. These orders prohibit them from importing or selling any infringing tyres. Each respondent was found to be in default and in violation of the law prior to the 28 July determination.
Continue ReadingLatin Tyre Expo donates $10,000 to childrens’ charity
Organiser of the Latin American & Caribbean Tyre Expo, the Latin Expo Group has donated $10,000 dollars to Aldeas Infantiles SOS Panama. Around the World in SOS deals with children who are at risk when their basic needs are neglected terms of material, emotional, health care and education, or are abused - either because they have lost their parents, never have known them, or when parents do not have the resources or skills to properly care for their children.
Continue ReadingGoodyear reaches military employment target early, makes new pledge
Two years ago, Goodyear Tire & Rubber said it would hire 1,000 United States ex-military personnel over the coming three years. Today, the company announced it surpassed this goal more than a year early, and has pledged to hire an additional 1,000 veterans. The company has also formed an employee veterans association, which is devoted to supporting the transition to civilian life and enabling internal networking opportunities.
Continue ReadingPirelli releases Calendar preview pics
Almost two months after briefly disclosing that Steven Meisel will snap the 2015 Pirelli Calendar, the Italian tyre maker has shared some teaser photos from his work on the project. Pirelli describes the 1954-born New York native as “one of the world’s most influential fashion photographers” and will display the final images chosen for the […]
Continue ReadingGoodyear adopting MAM solution in North American retail outlets
MAM Software has been chosen to supply a new point-of-sale and management solution for Goodyear’s company-owned retail store locations in North America, and it will also be made available to independent Goodyear tyre and automotive service dealers there. The new solution will leverage MAMs VAST POS application and deliver a solution that can be delivered on premise or via the cloud.
Continue ReadingNew range of Vietnamese tyres from DRC and Duratread
Duratread and DRC, who have been cooperating on sales and marketing projects since 2006, have announced the launch of a new expanded range of tyres coming from Vietnam. The innovative range of products were unveiled at the Latin Tyre Expo from 23-25 July 2014 in Panama City, Panama.
Continue ReadingContinental adopts a wait and see stance towards future World Cup sponsorship
While Continental says it will “stay on the ball” regarding its football sponsorship and confirms its intention to place a stronger focus upon sponsoring regional events in future, the tyre and automotive systems manufacturer hasn’t gone so far as saying it will not sponsor the FIFA World Cup 2018, as one German newspaper reported last week.
Continue ReadingModel describes curves in Pirelli Calendar as a ‘sign of change’
Information on the 2015 Pirelli Calendar has been revealed to the Italian edition of Vanity Fair. The publication shared this with the world and reports that the coming Cal, which was shot in May by Steven Meisel, features New York as a backdrop and will feature Brazilian supermodel Adriana Lima, Isabeli Fontana, Raquel Zimmermann, Natalia Vodianova, Sasha Luss and – in what Vanity Fair calls the “real news of the Calendar’s 42nd edition” – plus-size model Candice Huffine. This is the first time the Pirelli Calendar has featured a ‘curvy’ model and Huffine has described her presence on “the most glamorous set in the world as “a sign that things are really changing.”
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