Lower material costs help MRF double net quarter profits, despite Chinese competition
India’s MRF Limited reports that its year-on-year net profit almost doubled in the three months to 31 March 2015. Net profit during the period amounted to Rs 3,326 million (£34.4 million), up 94.6 per cent on the Rs 1,709 million (£17.7 million) earned in the first three months of 2014. This huge jump in profit was achieved in spite of hefty competition from imported Chinese tyres, and was facilitated by much lower natural rubber prices – Mumbai-based stock and wealth trading company Angel Broking reports that MRF’s raw material costs declined from 65.7 per cent of sales in the second quarter of calendar year 2014 to 57.4 per cent of sales in the reporting period. Net income of Rs 33,120 million (£342.7 million) for the quarter was only 0.4 per cent higher than a year ago.
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Whippet Coaches signs first tyre management deal with Michelin Solutions
Whippet Coaches has moved its fleet on to a rolling Effitires contract with Michelin Solutions. The outsourced tyre management deal is the first pence-per-kilometre agreement to be implemented by the coach operator.
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Kingsway Tyres first dealer to register with CAM’s e-jobsheet.com
Kingsway Tyres has become the first tyre dealer to register with e-jobsheet.com, CAM’s open-access mobile data platform for digital tablet technology in the truck, bus and van service arena. Signing up at the CV Show in April, director and general manager of Kingsway Tyres, Martin O’Brien, says, “We were persuaded to register by the many benefits associated by taking greater control of our truck tyre service work which will continue to improve our processes, drive efficiencies and reduce costs.”
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MAM releases StockTake app
MAM has announced the release of the latest in its suite of mobile and tablet apps, MAM StockTake, which integrates with a suitable MAM business management system to simplify the stock count process.
Continue ReadingLondon’s Transport Commissioner to speak at FTA Conference
Londons transport commissioner, Sir Peter Hendy CBE, will be making the keynote address at the Freight Transport Associations (FTAs) Managing Freight in London Conference in June. Sponsored by Transport for London (TfL), the event will highlight the challenges transport operators in London face over the next two to three years, examining those challenges in more detail and suggesting possible solutions.
Continue ReadingIAM ‘dismayed’ as political parties ignore road safety in manifestos
The Institute of Advanced Motorists (IAM) has reacted with dismay at the lack of priority given to cutting deaths on UK roads by the main political parties in their election manifestos.
Continue ReadingBritish car output – productivity hits all-time high
SMMT figures show that the strong British car market drove domestic production up 1.9 per cent in March with 144,893 cars built – the best March since 2006. Manufacturing output for the domestic market, meanwhile, rose almost a quarter, reflecting continuing strong demand for new cars in the UK.
Continue ReadingNon-certified Toyo earthquake aborbers found in 90 more buildings
90 more buildings in Japan were constructed with earthquake shock absorption devices that did not meet certification standards. According to The Japan Times, this brings the latest figure brings the total to 145. The report also quotes Toyo as saying four employees may have been involved in falsifying performance data on the quake-absorbing rubber equipment.
Continue ReadingTanzanian government to buy out General Tyre East Africa
The Tanzanian Government is reportedly in final talks with Continental AG on the subject of buying back its 26 per cent shareholding in the now-defunct General Tyre East Africa (GTEA) tyre manufacturing company. According to local news reports, the government intends to revamp the tyre company.
Continue ReadingKumho aiming to re-take Chinese market share
Kumho Tire is aiming to increase its sales in China by 30 per cent in 2015. According to online reports originally published by the Yonhap News, Kumho plans to re-take market share lost in the worlds largest auto market.
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Scotts Tyres upgraded into Centre of Excellence dealership
Over 40 years since it opened, Scotts Tyres was recently given a complete overhaul courtesy of Maxxis and Stapletons. Scotts Tyres is now a Maxxis Centre of Excellence dealership. The Northamptonshire-based fitting centre has had its internal and external paintwork refreshed, new signage throughout and point-of-sale items updated.
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MAK Milano wins a Red Dot Product Design Award
In 2015 the Red Dot Award celebrates its 60th anniversary, and during this ‘diamond jubilee’ year a 38-person jury awarded MAK Wheels’ Milano alloy wheel a Product Design 2015 award. The Italian wheel manufacturer says the award is proof of how much MAK “cares about the design and the quality of its products.”
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Pirelli stand marks CV Show return after a decade
Pirelli’s appearance at the recent CV Show in Birmingham is the first time in more than a decade that the well-known tyre maker has invested in a stand at the long-established exhibition. Pirelli’s flagship truck tyre range was at the forefront of the stand.
Continue ReadingSolvay starts work on Korean silica plant
At an official ceremony attended by local dignitaries, Solvay today launched the construction of its Highly Dispersible Silica (HDS) production plant in Gunsan, South Korea. The facility is being built to address growing demand in Asia for energy saving tyres, and to facilitate Solvay’s development of innovative HDS grades.
Continue ReadingShareholder approval sought for Titan’s Delaware incorporation
Titan International is urging its stockholders to approve the reincorporation of the company from the US state of Illinois to the state of Delaware at its annual shareholders meeting on 4 June. This move has already been unanimously approved by the tyre maker’s Board.
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