Apollo Vredestein Expands East European Business
During recent years Vredestein has steadily built up its Eastern European business and overseen this region from its operation in Poland, which was established three years ago. Now, from January 1, 2011 onwards, Apollo Vredestein’s markets in Eastern Europe and the CIS will also be serviced by a second “Area Manager Export”, who will take on the responsibility of building up the company’s activities and structure within the region. Stepping into this role is Thomas Mittendorf, who is currently Apollo Vredestein’s public relations and media manager. Mittendorf explained to Tyres & Accessories that he will mainly take care of tyre markets in the Baltic States, the Ukraine, Moldova, Armenia, Kazakhstan and Belarus – markets where Apollo Vredestein currently operates no marketing organisation of its own.
Continue ReadingDouble Coin to Set Up Factory Through New Subsidiary
Double Coin Holdings has announced plans to invest at least RMB 3.18 billion (£301.5 million) establishing a wholly owned subsidiary in China’s Anhui Province. Within this subsidiary, known as Double Coin Huili Tire Co., the company will establish a new factory capable of producing 15 million tyres per annum. Double Coin will provide RMB 1 billion of the funds for the factory project, with the remainder coming from bank loans and from a RMB 900 million loan obtained from controlling shareholder Shanghai Huayi (Group) Company.
Continue ReadingMichelin XZM Difference ‘Phenomenal’, says Timber Merchant
A timber merchant in the Tayside town of Perth is switching over to a 100 per cent Michelin policy across its Machinery fleet following a trial using XZM industrial tyres fitted on two forklift trucks. The firm, Glenalmond Timber, had previously used solid tyres on its 13 counterbalance forklifts and three side-loader trucks, a solution production director Martin Clelland found unsatisfactory owing to their inability to withstand the wear and tear of moving bulk loads of timber around the yard.
Continue ReadingTitan Takes Over Goodyear’s Europe, Latin America Agri Businesses
The European and Latin American agricultural tyre businesses run by Goodyear Tire & Rubber have a new owner following their sale to Titan Tire Corporation. On December 13 the Titan International subsidiary announced its acquisition of the businesses, including a licensing agreement permitting Titan to manufacture and sell Goodyear-brand farm tyres in Europe, Africa, Eastern Europe, Russia, Latin America and North America. The deal is valued at approximately US$130 million, subject to post-closing adjustments.
Continue ReadingOpening Ceremony for Bridgestone’s Global Training Centre
Bridgestone has officially opened the new building housing its 2008-established Bridgestone Institute of Global Training (known as the BIG-T for short). A ceremony was held at the Tokyo address on December 14 to mark the occasion, at which Bridgestone commented that the establishing of this permanent base for developing the group’s human resources represents the completion of the facilities needed for Bridgestone to develop its global human resources and more effectively communicate its management policies around the world.
Continue ReadingToyo to Raise Domestic Market Prices
Domestic market prices for Toyo Tire & Rubbers’ commercial and light commercial vehicle tyres are to increase by an average of seven per cent as of March 1, 2011. These Japanese replacement market prices apply to both summer and winter tyres and are being implemented in response to increasing natural rubber prices plus the high price of petrochemical raw materials such as synthetic rubber and carbon black. Toyo notes it has made efforts to minimise raw material prices through product mix and cost rationalization, however these internal measures are not sufficient to not cover the increase in raw material prices.
Continue ReadingMaxxis Marks Ten Years of British Motocross Sponsorship
Recently Maxxis announced its continuation as headline sponsor of the ACU British Motocross Championship by signing up for the 2011 to 2013 seasons. To mark a decade of commitment to the series – the tyre maker first served as sponsor in 2001 – Maxxis has decided to take stock of how its presence in the motorcycle sector has grown over the years.
Continue ReadingDelticom Acquires Asian Retail Portal
On December 13 German online tyre retailer Delticom AG announced its acquisition of a majority stake in Singapore-based Tyrepac Pte Ltd, for an undisclosed amount in cash. The transaction, Delticom reports, is structured as a capital increase at Tyrepac.
Continue ReadingChanges to F1, GT1 Tyre Rules Confirmed
Proposed changes to Formula One and GT1 World Championship were confirmed at this year’s final meeting of the World Motor Sport Council (WSMC), which took place in Monaco on December 10. The WSMC has approved the re-introduction of intermediate tyres into Formula One for 2011, along with the imposition of penalties upon any driver who fails to use both specification of dry weather tyre during a race. Changes for GT1 include an increase in the number of dry weather tyres to six sets (of which only four are permitted for qualifying and the races). The intention of this change is to allow teams to use tyres to their maximum capacity during practice, reducing the necessity to incur additional costs in private testing.
Continue ReadingProtyre Providing ‘Essentials’ for the Winter
UK wholesaler Protyre is helping motorists prepare for the icy driving conditions this winter may bring by giving away free ‘Winter Essentials’ packs when they purchase two Goodyear car tyres. The pack includes essential items such as a de-icer, windscreen scraper, screen wash and cleaning sponge.
Continue ReadingEx-Bridgestone Emkes Takes on Tennessee Financial Role
Mark Emkes, who in February retired as president and CEO of Bridgestone Americas, has taken on a role with the Tennessee state government. Tennessee Governor-elect Bill Haslam has appointed Emkes to the role of commissioner of finance and administration. In this position Emkes will play a key role in shaping a US$1 billion reduction in state spending when federal stimulus money runs out next year.
Continue ReadingBrisa Acquires Bandag’s Turkish Operations
Brisa, the Turkish joint venture company owned by Bridgestone and the Sabanci Group, has agreed to purchase Bandag’s Turkish operations for US$3.6 million. The company says this move provides Brisa with a “cost-cutting advantage” to the logistics sector and will increase the quality of service it can offer. The acquisition was made by the purchase of 7,508 shares in Bandag Lastik Mamülleri Ticaret Limited Şirketi; the transaction is subject to the usual legal approvals.
Continue ReadingEnd in Sight for Conti’s Huntsville Plant
Continental AG’s automotive components plant in Huntsville, Alabama is preparing to close its doors for the last time. Production ended on November 11 and now only some 250 employees remain at the plant – this is expected to drop to around 100 in January. Continental has already announced Huntsville’s lost production will be absorbed by other plants in the US and Mexico.
Continue ReadingMichelin Raises European Truck Tyre Prices
Michelin says it is “maintaining its firm pricing policy” in response to rising raw material prices. What this means to consumers is that prices for replacement market new and retreaded truck tyres will increase by an average of around five per cent. The tyre maker says these increases are being gradually implemented between December 1, 2010 and January 1, 2011.
Continue ReadingToyo Completes Malaysian Tyre Manufacturer Acquisition
Toyo Tire & Rubber has announced that it has completed its acquisition of the Malaysian manufacturer Silverstone Berhad. Tyrepress.com reported initial talk of the acquisition back in October (follow the link at the bottom of this story for full details). Toyo has acquired all of Silverstone Berhad’s 203,877,500 shares. Toyo said the acquisition will “have a negligible effect on the company’s consolidated and non-consolidated financial results for the fiscal year ending March 31, 2011 (FY2010).” Silverstone Berhad has 203,877,000 Ringgit (₤41.1 thousand paid in capital).
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