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Prinx Chengshan goes public ahead of expansion drive

Prinx Chengshan goes public ahead of expansion drive

16th November 2018 | 0 Comments

With the striking of a ceremonial gong, Prinx Chengshan (Cayman) Holding Limited went live on the Hong Kong Stock Exchange at precisely 9:30am on 9 October. The tyre maker’s listing last month followed nearly a year of preparations and represents an important step in a growth and internationalisation strategy that also includes producing in Southeast Asia and making greater inroads into European and North American markets.

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November 2018

November 2018

14th November 2018 | 0 Comments

Click on the CONTINUE READING button to view the November 2018 issue of Tyres & Accessories

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Dundee closure ‘supports Michelin’s intent to accelerate cost savings’ – analyst report

Dundee closure ‘supports Michelin’s intent to accelerate cost savings’ – analyst report

6th November 2018 | 0 Comments

An analyst report published by Jefferies International Limited has stated that the closure of Michelin’s Dundee plant “supports [the company’s] intent to accelerate cost savings during 2019-20.” Presenting its nine-month 2018 results in October, Michelin warned that demand had deflated in the car and truck markets and it was revising down its guidance; subsequently Michelin shares fell to a seven-year low.

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Were communications issues behind premium tyremakers share price drop?

Were communications issues behind premium tyremakers share price drop?

31st October 2018 | 0 Comments

Michelin’s predictions that market demand has been tough and will continue to be sluggish till at least the end of the year (see “Michelin predicts significant slowdown in car and truck tyre demand“ for further details) sent shockwaves through the financial markets. Shares started off bad, falling 6 per cent in early Paris trading to a seven-year low, but continued downwards and were down more than 9 per cent by mid-afternoon to 89.54 euros. Ultimately, shares in tyre manufacturers dropped by as much as 10 per cent on the day (Friday 19th October 2018).

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Chancellor delivers pothole budget

Chancellor delivers pothole budget

30th October 2018 | 0 Comments

While many have been talking about chancellor of the exchequer the right honourable Phillip Hammond MP’s decision to increase the personal allowance threshold from £11,850 to £12,500 in April 2019, for those of us connected to the automotive and transport industries this year speech is probably best described as a pothole budget. True Hammond has raised personal allowance threshold and has raised the point at which people start paying higher rate tax (40 per cent) to £50,000, but the automotive industry was hoping for much more clarity and even support the wake of a Brexit-fuelled, uncertainty ridden market context.

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ATD ‘making significant progress’

ATD ‘making significant progress’

29th October 2018 | 0 Comments

American Tire Distributors, Inc. (ATD) has written to customers saying that the company is making “making significant progress with [its] recapitalization process” in a letter published on the firm’s recapitalisation website on 28 October 2018. According to the company, the steps taken “will strengthen our financial position as we continue our successful, game-changing transformation. We have a clear roadmap for the next steps in this process and the support of our key financial stakeholders has us on track to emerge by the end of the year as a stronger company with less debt that is even better positioned to serve our customers.”

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September 2018 – Retreading Special

September 2018 – Retreading Special

18th October 2018 | 0 Comments

Click on the CONTINUE READING button to view the September 2018 issue of Retreading Special

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June 2018 – Retreading Special

June 2018 – Retreading Special

18th October 2018 | 0 Comments

Click on the CONTINUE READING button to view the June 2018 issue of Retreading Special

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March 2018 – Retreading Special

March 2018 – Retreading Special

18th October 2018 | 0 Comments

Click on the CONTINUE READING button to view the March 2018 issue of Retreading Special

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Will Amazon buy ATD?

Will Amazon buy ATD?

17th October 2018 | 0 Comments

October has been a tumultuous month for US tyre distribution. First ATD filed for Chapter 11 during the first week of the month. Then, less than two week’s later Sears, which includes Sears Autocentres (itself one just two major tyre installation partners for Amazon), also applied for bankruptcy protection. Now market analysts are asking if Amazon is planning to buy ATD.

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October 2018

October 2018

16th October 2018 | 0 Comments

Click on the CONTINUE READING button to view the October 2018 issue of Tyres & Accessories

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Amazon’s increasingly influential role in tyre sales

Amazon’s increasingly influential role in tyre sales

4th October 2018 | 0 Comments

This year Amazon really stepped up its presence in the tyre space, especially in the USA where the company is now dominant across online retail in general. To be specific, a whopping 50 per cent of everything bought online is from Amazon. But these figures are not just an American phenomenon. In the UK, 33 per cent of online retail is conducted through Amazon. This makes Amazon the fifth biggest retailer in the UK, just behind the big supermarkets. The point is that, now we know Amazon is moving into the tyre space, anything that is happening in the US has resonance in the UK market as well.

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Bridgestone tops 2018 global social media ranking

Bridgestone tops 2018 global social media ranking

3rd October 2018 | 0 Comments

Bridgestone has taken pole position in the 2018 Tyres & Accessories global social media ranking. The world’s largest tyre manufacturer’s @Bridgestone handle rose an impressive seven places to take first place from last year’s winner Michelin. Both @Bridgestone’s Klear and RightRelevance scores were of the highest order, with just three points separating them, resulting in a very high average of 87.7, which was ultimately three points clear of second place.

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Top three hold positions in Tyrepress 2018 UK social media ranking

Top three hold positions in Tyrepress 2018 UK social media ranking

2nd October 2018 | 0 Comments

Michelin’s social media influence continues to lead the pack in the UK, according to our latest social media influence for companies operating social media networks for the local markets. And what’s more, the entire top three on this year’s table is the same as it was in 2017 – meaning Continental retains second place and Dunlop keeps third.

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Jiangsu General investing US$300 million in Thailand tyre plant

2nd October 2018 | 0 Comments

Jiangsu General Science Technology Co. Ltd. is set to invest around US$300 million in the construction of a tyre manufacturing facility in Thailand. The news follows earlier reports published in the Spring that Jiangsu General was considering Cambodia for the investment.

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