Toyo raises full-year 2021 estimates
Following the publication of stronger than expected second-quarter 2021 financial results that returned the bottom line to profitability despite pandemic- and seismic-rubber-related headwinds, Toyo published a statement ramping up its full-year 2021 estimates. See accompanying table (below) for further details.
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Toyo Tire reports 23.8% sales increase in Q2 2021, return to profit
Toyo Tire Corporation achieved second-quarter 2021 net sales of 186,392 million yen (£1.217 billion; 1.438 billion euros; US$1.687 billion), an increase of 23.8 per cent compared with the same period in 2020. Compared with low levels last year, Toyo’s profitability also increased. Operating income amounted to 26,958 million yen, up 240.0 per cent.
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Tyre Point car meet raises over £2200 for charity
At the end of July, Tyrepoint Ltd hosted a charity car meet at its Maidstone location in aid of the local Air Ambulance.
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Goodyear conducting sustainability survey in Europe
Goodyear is inviting transport and logistics companies based in Europe to participate in its Sustainable Reality Survey and share their insights regarding more sustainable transportation. To encourage participation, the tyre maker will plant a tree for each fleet respondent completing the survey in collaboration with non-profit reforestation organisation Tree-Nation.
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Citexpo announces 2022 dates
The organizing committee of Citexpo have announced that the next edition of the Chinese tyre trade show will run from 12-14 December 2022 at the Shanghai World Expo exhibition centre. The last Citexpo (the 17th edition) was held in the summer of 2019 before the global Covid-19 pandemic caused havoc with largescale in-person events.
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Bridgestone appoints Yoshimatsu to expanded Global CFO function
Bridgestone Corporation is expanding the function of its Global Chief Financial Officer (CFO) position and has appointed Masuo Yoshimatsu its new Global CFO, effective 1 September. Yoshimatsu, who joined Bridgestone in June 2021 and is currently assistant to Bridgestone’s Global CEO, will also become a vice president and senior officer of the company.
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Apollo Tyres continues European turnaround
Apollo Tyres reported substantially improved key results at the start of its new financial year, which runs from 1 April 2021 to 31 March 2022. The Indian tyre maker, owner of the Vredestein brand since 2009, reported a 59.5 per cent increase in sales during the three months to 30 June.
Continue Reading Tyre business drives Continental’s profits
Continental AG presented figures for a strong first half of the year, and while its overall sales rose by 22 per cent to 20.2 billion euros, those of its Tire division increased 28.1 per cent. Furthermore, this division was the company’s profit-maker, delivering almost 63 per cent of its EBIT despite accounting for just 42 per cent of sales.
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Pirelli’s new Cinturato WHA wet tyre makes British GT debut
Pirelli’s new Cinturato WHA wet tyre got plentiful track time on debut in the fifth round of the 2021 British GT Championship at Snetterton, Norfolk. Changeable weather conditions made sure that both the WHA and the dry-weather DHE tyre were used in a pair of one-hour races which produced a different winner in GT3 and GT4 each time.
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Hella partners Pro-Align on ADAS calibration, wheel alignment solution
Hella Ltd, the vehicle diagnostics expert and pioneer of advanced driver assistance system (ADAS) calibration for the independent aftermarket, has, through its Hella Gutmann Solutions brand, partnered with Pro-Align, the complete wheel servicing equipment specialist and UK and ROI distributor of Hunter Engineering Equipment, to provide the market with the ultimate solution for wheel alignment and ADAS camera and radar calibration.
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Switch to Michelin means no punctures for Britannia Bus
Northampton-based Britannia Bus, which operates five local service bus routes, is on course to eliminate instances of punctures across its six-strong fleet after beginning the switch to a Michelin tyre policy two years ago. Managing Director Derek Taylor says he would previously suffer a puncture within the fleet at least once a month, but since beginning the move to a Michelin X Multi Z policy, the new tyres have delivered 100 per cent uptime.
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Mitas raises prices across all segments
Mitas has announced price increases up to 5 per cent across all its tyre product segments. According to the company, this third price increase is driven by “escalating logistics and raw materials costs in all markets”. The latest price increase takes effect from September 2021 onwards.
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Kumho selected to supply tyres for the 2021 Nissan Pathfinder
Kumho’s Crugen HP71 tyres are original equipment (OE) on the 2021 Nissan Pathfinder SUV. Specifically, new Nissan Pathfinders will leave the production line shod with 255/60 R18 products.
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Birla Carbon appoints John Loudermilk appointed as CEO
Birla Carbon has appointed John Loudermilk as CEO Birla Carbon, effective 1 August 2021. In his previous role of Chief Operating Officer (COO), Loudermilk is said to have played a key part in shaping the Vision of Birla Carbon. He is also said to have been “instrumental” in the launch of the company’s Continua brand of sustainable carbonaceous materials.
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CAM celebrates 40th anniversary with £1.5 million annual R&D commitment
CAM is celebrating its 40th anniversary this month by committing to continue investment £1.5 million of investment a year in research and development design to “keep the tyre industry connected” and help “amplify its growth into the future”. Since its inception in 1981 by founders Trevor Allen and Len Miller, CAM has expanded to be the primary tyre solutions provider for 19 of the UK’s top 25 tyre wholesalers, and 16 of the UK’s top 25 tyre retailers have chosen CAM products to manage their tyre systems.
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