India
Apollo Tyres has opened its sales hub to the ASEAN region in Bangkok. The region has become one of Apollo’s strongest export markets for its India produced tyres, the company said. Over the last three years, Apollo said the region has doubled in sales.
The 29-person international jury presiding over this year’s Vehicle Dynamics Innovation Awards have named Continental’s new weather-independent AIBA tyre testing facility winner of the awards’ “Development Tool of the Year” category.
Apollo Tyres unveiled the first of its fourth generation, or 4G tyres at the Geneva motor show in March 2012, and since the release of the Aspire 4G it has introduced further products into this latest generation line-up in Europe. Now the Indian tyre maker is releasing three 4G ranges in its domestic market, and it intends to use these to increase its share of India’s replacement passenger car tyre market.
Titan International has announced “another record quarter” during the first three months of 2012, however the figures behind this impressive-sounding statement make for rather modest reading. While sales are up 24.9 per cent over the first quarter of 2012, the tyre maker only managed a small increase in gross profit, while adjusted net income declined significantly. Earnings per share were less than half what they were a year ago, although admittedly they show an improvement on Q4 2012. Titan says it remains focused on its goals, however, and sees many opportunities in the agricultural and mining sectors where it is most active.
When listing off the major European alloy manufacturers, it isn’t hard to forget the “Française de roues” plant in Diors, smack in the middle of France. The company, along with Dial, is the only cast alloy wheel manufacturer remaining in France. The wheel maker has been established for a number of years and was known as Montupet before its parent company announced plans at the start of to divest its wheel business to Indian company Deltronix.
Summing up its first quarter 2013 experience in a single sentence, Michelin states that in the three months to 31 March the “market environment was weak in Europe in passenger car and light truck tyres, disappointing in North America and expanding in the new markets.”
Motor Wheel Service Distribution (MWSD) will display two new xlite super single forged aluminium wheels on stand A28 at Truckfest Peterborough. Following their February launch, the show will mark the first exhibition appearance for the wheels MWS says are among the lightest on market. A change in profile by manufacturer Wheels India has enabled the load index to be increased to 5,000kg from 4,500kg.
Following growing global demand for its Mini range, owners BMW have announced that the iconic marque will be produced outside Europe for the first time later this year to cater for growth markets in other continents. This is in line with BMW's "production follows the market" strategy.
Kohlberg Kravis Robert (commonly known as KKR) has confirmed reports that it is acquiring a controlling stake in Alliance Tire Group (ATG) from an affiliate of Warburg Pincus. KKR also confirmed that Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the company and partner with KKR to continue to grow the business. Terms of the transaction were not disclosed and so details of current shareholdings and therefore the balance of power are not yet clear. As usual, the transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.
The Al Dobowi Group has been distributing Chinese manufacturer Hangzhou Zhongce’s Westlake tyre brand in certain key markets for 20. The Group’s chairman, Surender Kandhari marked the occasion by presenting Ge Gourong, CEO of Hangzhou Zhongce, with a commemorative gold dagger. The gift, a symbol of strength, is designed to reflect the 20 years of partnership and “years of future growth together”, Al Dobowi states.
India’s Economic Times reports that private equity firm Kohlberg Kravis Roberts (KKR) has agreed to buy a 90 per cent stake in Alliance Tire Group. The deal for a reported US$650 million includes an estimated $125 million in debt.
Aditya Birla Nuvo, a company within India’s Aditya Birla Group, has divested its carbon black businesses to another group company, SKI Carbon Black (India) Pvt. Ltd. The company says the decision to divest was approved in a committee meeting held on 6 April, and the carbon black business will be divested at an enterprise value of Rs 14.51 billion (£173.2 million).
According to the results of J.D. Power Asia Pacific’s 13th annual study into original equipment tyres in the Indian market, customer satisfaction has slightly risen in this past year. The 2013 India Original Equipment Tire Customer Satisfaction Index Study measured satisfaction towards original equipment tyres during the first 12 to 24 months of ownership. Four factors – appearance, durability, traction/handling and ride – were measured, with points awarded according to level of satisfaction in each category. The potential maximum total score was 1,000 points.
When Autopromotec 2013 takes place at the end of next month, the organisers are hoping it will be their biggest yet. Complete exhibitor details were not available at the time of going to press, but early indications suggest the show is on-track to achieve this goal. For example, six months before its scheduled opening, certain sections of the international automotive equipment and aftermarket product trade fair were already fully booked. And the momentum seems to be coming from our part of the industry. Indeed the tyre and garage equipment pavilions were amongst the first to sell out.
The organiser of Tyrexpo Asia 2013 recorded a “substantial increase in visitors” to this year’s Singapore show. Exactly 4,355 individual visitors from 97 countries attended the trade exhibition held at the Singapore Expo Centre between 19 and 21 March, an increase of 22.5 per cent in comparison to the 2011 show’s prior record. Exhibitor numbers at the 2013 show were 64 per cent higher than two years ago, with 250 suppliers displaying their products at Tyrexpo Asia 2013.
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