Reporting what looks likely to be its last full year results before ChemChina takes control, Pirelli has confirmed marginally improved financial data in its tyre business for the full year 2014. EBIT rose 4.5 per cent to 852.6 million euros (815.7 million euros in 2013), though revenues were marginally down (0.4 per cent) to 6,007.5 million euros. Total net profit was up 8.6 per cent to 332.8 million euros (versus 306.5 million euros in 2013).
Since spring 2012, Lanxess has run a pilot project involving a more energy and cost efficient butyl rubber production process. The process was tested at two plants at its Zwijndrecht site in Belgium, and built on research and development work it began seven years ago. The specialty chemicals company reports that this pilot project has now been concluded, with successful results. Now that the project is complete, Lanxess says it intends to mothball the plants. It has begun a labour consultation process with unions and employees.
Turnover at Toyo Tire & rubber rose 27 per cent during the 2013 financial year to ¥370 billion (£2.2 billion), the company reports, while operating profit almost trebled to ¥38.3 billion (£224.6 million); operating margin was 10.3 per cent. Despite these favourable figures, Toyo’s bottom line was significantly below its result a year earlier; net profit fell 12.3 per cent to ¥11.6 billion (£68.0 million).
Net sales, operating income and net income at Yokohama Rubber rose to record levels during the 2013 financial year, the company reports. It says this performance mainly reflected a tyre business recovery in North America and China along with strong winter tyre sales in the Japanese market. Net income increased 7.3 per cent over the previous year to ¥35.0 billion (£206.0 million), on a 14.0 per cent increase in operating income, to ¥56.6 billion (£333.1 million) and a 7.5 per cent increase in net sales, to ¥601.6 billion (£3.5 billion).
Following a statement from Sumitomo and comments from Goodyear executives yesterday, later on 13 February 2014 Goodyear confirmed that it is moving to end its joint venture with Sumitomo Rubber Industries. The company also confirmed comments suggesting that the move has been precipitated by alleged anticompetitive behaviour. Writing in the company’s annual report, otherwise known as a 10K filing, company representatives said: “We have learned that SRI has engaged in anti-competitive conduct that we concluded warrants the dissolution of the global alliance”.
Netherlands-based OTR tyre specialist Magna Tyres has released its Technical Databook 2014. This document, the first of its kind the company has released, can be downloaded from the magnatyres.com website and will be available as a hardcopy version upon request as of 1 January 2014.
Magna Tyres Group has received OEM approval from Noell Mobile Systems, part of Terex Port Solutions, for its newest port handling tyre – the 16.00R25 Magna M-Straddle. With this approval, Noell Mobile Systems confirmed that this tyre can be fitted on Terex Noell Straddle Carriers. This acknowledgement means Magna Tyres will supply Terex a significant part of its annual straddle carrier tyre requirements in 2014 and thereafter.
Swedish tyre distributor and retreader the Colmec Group now operates in Poland, Denmark, Iceland, Norway and Finland, where it established a new service and sales organisation in May 2013. The company reports it has now taken the next step towards building up a full sales and service organisation there by appointing a sales manager for the Finnish operation.
South Korean’s Hankook Tire is one of 24 companies recently added to the Dow Jones Sustainability Asia/Pacific Index (DSJI Asia/Pacific). It is the first Korean tyre maker to be included in the index and the company reports it obtained high scores in core components of corporate sustainability such as corporate social responsible activities, ethics management, environment management, climate change strategy and innovation management.
During the third quarter of 2013, net sales at Nexen Tire Corporation declined 2.9 per cent to KRW 438.5 billion (£253.9 million), the company reports. Gross profit rose 3.6 per cent compared with a year earlier to KRW 124.7 billion (£72.2 million) while operating profit was 12.1 per cent down at KRW 46.3 billion (£26.8 million). EBITDA was 3.1 per cent lower at KRW 71.9 billion (£41.6 million), with the margin stable at 16.4 per cent.
Sumitomo Rubber Industries has published the English-language version of its "CSR Report 2013", which was originally released in Japanese in June. The report details the group’s corporate social responsibility activities during 2012.
Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.Ş. (Brisa), the joint venture company run by Bridgestone Corporation and Turkey’s Sabancı Holding, is evaluating potential sites within the country for a second factory. Brisa intends to construct a passenger car radial factory to complement the company’s existing passenger car, bus and truck radial plant in İzmit, which entered volume production in 1990.
Transense Technologies plc, which offers RFID/TPMS chips and equipment, had what it refers to as its most successful year yet in the 12 months ended 30 June 2013. The company reports revenue increased 98 per cent to £1.5 million (2012: £0.765m, 18 months: £1.014 million). During the same period gross profit is said to have increased 140 per cent to £1.02 million (2012: £0.424 million, 18 months: £0.565 million). As a result the company reports that it has a positive cash position at 30 June 2013 of £1.98 million (30 June 2012: £0.195 million).
The DC, located in Los Angeles Vipal is opening a new distribution center (DC) in the city of Los Angeles, California in the USA. The company reports that it will serve the Western regions of the United States and Canada. Vipal already has two other DCs in the US – one in Florida and another in Virginia. With the addition of this new investment, Vipal will have a structure with a capacity of 1,500 positions for pallets. The Los Angeles DC is being run by local partner JAS Forwarding (which also operates the Florida DC).Vipal describes the move as a way of boosting its presence in the country, which will enable further growth in the world's largest market for retreaded tyres, the US.