Jinyu Tyres ups prices 5-7%
China’s Jinyu Tyres became the latest manufacturer to announce a price increase when it wrote to customers on 8 February announcing that costs are on the up. The company’s first round of price increases will see the firm’s truck and bus radial prices increase by between 5 and 7 per cent, followed by a 6 – 7 per cent increase across the Jinyu’s passenger car radial range. According to company representatives, “TBR prices will see another change soon.”
Continue ReadingNokian Tyres presented with “opportunity to increase sales” in 2011 – Gran
A jaunty nautical appraisal of this year’s outlook greeted shareholders upon the release of Nokian Tyres’ 2010 financial statements. The man at the helm, president and CEO Kim Gran, stated that “a clear improvement in the drivers for demand in core business brought Nokian Tyres back to a strong growth track. The sails are now bulging with strong tailwind as we go into 2011 with thick order books and growing capacity.”
Continue ReadingJapanese Consumers Facing Fresh Bridgestone Price Rise
On February 9 Bridgestone Corporation announced an additional price increase for the tyres, tubes and flaps it sells in the Japanese replacement market. These increases will take effect on June 1 and come on top of the December 2010 announced truck and bus tyre price rise to be implemented on March 1, 2011. The latest increases apply to both summer and winter tyres and are eight per cent for passenger car, light truck and motorcycle tyres, 15 per cent for OTR tyres for construction and mining vehicles, ten per cent for other kinds of tyres (including those used on industrial vehicles and agricultural equipment) and ten per cent for tubes and flaps.
Continue ReadingSnap-on presents new N2 nitrogen generator
Snap-on Equipment has announced its new N2 Generator nitrogen inflation system, available under the Hofmann and John Bean brands. The mobile unit for motorcycle, car, caravan, 4X4 and LCV tyres generates nitrogen at a rate of 4,380 litres per hour. Snap-on says nitrogen inflation will help extend tyre life, lower fuel consumption and reduce tyre wear, therefore improving grip, handling and safety due to much slower tyre pressure loss, as nitrogen particles are larger than oxygen.
Continue ReadingTGI opens Peru office
Tire Group International (TGI) is expanding its tyre marketing and distribution in Latin America and the Caribbean by opening a new sales office in the Peruvian capital, Lima. The sales office will be headed by Fredy Montoya Soriano, who has more than 35 years’ experience in the tyre and automotive industries.
Continue ReadingMatador sells share in Addis Tyre
Ethiopia based newspaper Addis Fortune reports the sale of a majority share in the country’s sole tyre maker, Addis Tyre SC. According to “reliable sources” that spoke to the English language weekly, Matador AS has sold its 69 per cent share in Addis Tyre to Horizon Plantations Ethiopia Plc. This purchase comes more than two years after a Memorandum of Understanding for the acquisition was signed – Addis Fortune notes that the share transfer was put on hold as the Ethiopian government owns the remaining 31 per cent of shares and therefore the country’s Privatisation and Public Enterprises Supervising Agency had right of first refusal on Addis Tyre.
Continue ReadingTPMS is the future, says Autogem
In order to prosper in today's competitive market, a company needs to be able to identify trends and wholeheartedly embrace new opportunities. A good example of this is Autogem, which used to be a market leader in the supply of exhaust fittings and workshop consumables, but which is now regarded as an authority on tyre pressure monitoring systems. While it is true that all run-flat tyres must have some form of TPMS, the number is still comparatively small. However, says Prashant Chopra, managing partner at Autogem, this will all change, as from November 2012, a European Directive states that all new category M1 vehicles will have to be fitted with TPMS.
Continue ReadingContinental performance ‘entirely attributable to tyre operations’
Continental AG’s adjusted EBIT is reportedly 15 per cent (100 million euros) above estimates produced by Deutsche Bank. With net debt below 6.5 billion euros, impressed analysts commented that “these better results are entirely attributable to the tyre operations.” The tyre division contributes 28 per cent of the group’s sales and 42 per cent of adjusted EBIT, which reported a higher result despite the significant raw materials headwind.
Continue ReadingYokohama led Japanese domestic tyre price increases – analysts
Financial analysts from Deutsche Bank commented that Yokohama’s recently reported third quarter operating profit margin declined 2 percentage points year-on-year to 11.9 per cent because “price hikes offset only 2.7 billion yen of the 7.8 billion yen of impact to profits from rising natural rubber and other raw materials prices.” They also observed that the company did not alter its guidance due to “uncertainty regarding trends in raw materials prices and foreign exchange rates.” Instead Yokohama, as Toyo subsequently did, announced plans to hike the price of its replacement tyres in the domestic market.
Continue ReadingMichelin becomes official tyre of Sebring
Michelin has become the official tyre of Florida’s Sebring International Raceway, a move that coincides with the US launch of the Pilot Super Sport – a product featured on the new signage displayed around the Sebring track. The signage will make its debut in front of an audience of over 175,000 fans attending the Twelve Hours of Sebring race weekend on March 16 to 19. “It is very fitting that we begin the North American launch of our outstanding new Michelin Pilot Super Sport tyre here at Sebring, the home of America’s premier sports car endurance event, the Twelve Hours of Sebring,” commented Don Byrd, vice-president, marketing, Michelin Americas Small Tires.
Continue ReadingFurther Bridgestone Americas price increases
In addition to previously announced price adjustments in its Bandag and truck tyre businesses, Bridgestone Americas Tire Operations has announced price increases for two of its off-road divisions. The company’s Off Road Tire, U.S. & Canada Commercial Tire Sales division (BAOR) has announced plans to increase prices by 12 per cent with some in-line adjustments. The price increases will affect all mining, construction and industrial tyres marketed by BAOR and are scheduled to begin March 1. Furthermore, the Agricultural Tire, U.S. & Canada Commercial Tire Sales division (BAAG), has announced a four per cent price increase on Firestone branded agricultural, construction and forestry tyres; Bridgestone branded garden tyres and Regency branded tyres sold in the United States and Canada replacement markets. The new pricing will be effective April 1, 2011.
Continue ReadingKumho creditors considering Daewoo share sale
Creditors of South Korea's Kumho Asiana Group, parent company of Kumho Tires, are said to be considering selling a 1.46 trillion won (₤818.8 million) stake in Daewoo Engineering & Construction Co Ltd held by the group's affiliates via a block trade. Group company Kumho Industrial Ltd holds 14.6 per cent of Daewoo Engineering & Construction and other units own the remainder, and the sale of a 24.7 per cent share in the contractor, as reported by Reuters, would join a number of other restructuring efforts aimed at aiding the cash-strapped company.
Continue ReadingProperly inflated tyres “reduce” pothole damage: TyreSafe
TyreSafe has released a statement suggesting that damage caused by the UK’s pothole epidemic can be minimised if the tyres are properly inflated. Stuart Jackson, chairman, TyreSafe, comments: “Potholes can cause significant damage to wheels and tyres. It’s therefore important for drivers to ensure their tyres are properly inflated to reduce any potential damage. If they do suffer the misfortune of hitting a pothole, drivers should make sure both their wheels and tyres are thoroughly inspected by a professional for signs of damage.”
Continue ReadingKumho USA to raise prices on 1 March
Kumho Tire USA is raising its prices on some of its rannge by an as-yet undisclosed amount on 1 March. Kumho said increases will affect all passenger, light truck/SUV and medium truck tyres. The company concluded its statement by saying the exact details of the increase "will be provided to our clients in the near future.”
Continue ReadingDMACK confident in DMG-ICE tyre for WRC’s Swedish opener
The new tyre supply entrant into the World Rally Championship DMACK Tyres states that it is ready for its “biggest test” – the 59th running of Rally Sweden on 10-13 February, which marks the Chinese manufactured brand’s debut. The Swedish event is the beginning of what could be termed a fresh start in the history of the WRC with new cars, manufacturers and tyre suppliers – one of the global big three, Michelin is also joining the championship in 2011.
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