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BKT profit rises 22% in 2021-22

Although impacted by the rising cost of raw materials and logistics, off-highway tyre specialist BKT delivered a healthy profit in the financial year ending 31 March 2022. Profit after tax rose 22 per cent year-on-year to Rs 14.11 billion (£148.58 million) on the back of income that rose 47 per cent to Rs 84.19 billion (£886.52 million) and sales volumes that increased 27 per cent to 288,795 tonnes. EBITDA was, at Rs 21.82 billion (£229.76 million), up 21 per cent, with the margin contracting 5.6 percentage points to 25.9 per cent.

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Related news:

  1. BKT sponsoring Australian cricket league
  2. BKT preparing for 51-inch giant tyre production at $500 million plant
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  4. BKT ready for the future
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War as a sales opportunity: Titan subsidiary increasing volumes in Russia

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While other tyre makers are distancing themselves from Russia and moving production capacities elsewhere at present, Titan International Inc.’s subsidiary in Volzhsky, Volgograd Oblast has announced plans to increase its production volumes. Voltyre-Prom, which is majority owned and managed by the Illinois, USA-based off-highway tyre specialist, states that the current situation “opens up new opportunities” for it to increase production volumes and sales.

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  1. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  2. Titan receives additional settlement put option notice
  3. Titan International closes RDIF put option transaction
  4. Titan: Russia-Ukraine war hasn’t impacted global operations
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Lower raw material exposure and better ESG profile – What Trelleborg gains from TWS sale

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Trelleborg

Apart from the 2.1-billion-euro price tag what does Trelleborg Group stand to gain from the sale of its Trelleborg Wheel Systems business unit?

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Related news:

  1. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
  2. Yokohama confirms 2.1 billion euro Trelleborg Wheel Systems acquisition
  3. Trelleborg group sales relatively good, but tyre sales impacted
  4. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
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Yokohama confirms 2.1 billion euro Trelleborg Wheel Systems acquisition

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Trelleborg

Three months after we published the news, The Yokohama Rubber Co., Ltd., has confirmed that it has entered into a share purchase agreement with Swedish-based Trelleborg AB to acquire all outstanding shares of Trelleborg Wheel Systems Holding AB (TWS). According to Yokohama, TWS’s enterprise value is €2,040 million (about ¥265.2 billion). But the acquisition agreement includes a performance-linked earn-out clause, which could increase the acquisition price by up to €60 million depending on TWS’s 2022 financial results. And therefore Trelleborg refers to the sale as a 2.1 billion euro deal.

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Related news:

  1. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Trelleborg group sales relatively good, but tyre sales impacted
  4. Trelleborg confirms acquisition interest from ‘external parties’
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Trelleborg Wheel Systems raises tyre prices 15%

Trelleborg Wheel Systems will increase the price of all its brands across all segments globally by up to 15 per cent. The sharp price hike takes effect from April 2022.

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  1. Trelleborg Wheel Systems increases prices 3-5% across product range
  2. Trelleborg: production unaffected
  3. Trelleborg bringing innovations to The Tire Cologne
  4. Trelleborg reorganisation brings greater prominence to tyres
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Conti360° Solutions signs up to TiDaeX

Cam International

CAM International have signed an agreement with Continental Tyre’s fleet management division, Conti360° Solutions, to help e-jobsheet app subscribers directly connect with fleet management software – via the TiDaeX platform.

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Related news:

  1. Yorkshire Industrial Tyres adds UniSerV Call Logging/e-jobsheet combination
  2. Vaculug signs 5-year TiDaeX contract for e-jobsheet connectivity
  3. 26 truck tyre service providers integrated with Bridgestone via TiDaex and Fleetbridge
  4. Tomato Tyres utilises e-jobsheet
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Tyre Boss signs up to “More Trees” initiative

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Construction companies are increasingly considering the environmental impact of their operations and this includes their machinery choices. Legislation has driven the development of clean engines – in the off-highway sector new machines must now be built with Stage V low emission engines. Of course, battery power is also now becoming more prominent as a power source for smaller plant and equipment. So, what about tyres?

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Related news:

  1. Maxam shows new solid tyre range at Recycling Aktiv show
  2. Europa Tyres main UK distributor for ATG’s Galaxy brand
  3. Tyre Boss opens second warehouse
  4. Tyre Boss fits high-capacity tyre press for OTR, specialist tyres
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Yokohama Off-Highway Tires: Higher prices from 1 April

As a result of continued high raw material prices and “dramatically” rising freight costs in 2022, Yokohama Off-Highway Tires (YOHT) is increasing prices for its products from 1 April 2022. Announcing the upcoming changes, YOHT states that although it has absorbed “the majority of the costs” incurred upstream and during transportation and has thus implemented price increases that are “lower than industry average,” it is “unavoidable to pass a minor portion to its business partners.”

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Related news:

  1. Exploding costs – Yokohama OHT announces price increases
  2. Despite absorbing costs, YOHT announces ‘unavoidable’ price increase
  3. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  4. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
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Continental sells South Africa agricultural and industrial tyre factory assets

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Continental AG

Continental Tyre South Africa has sold the manufacturing assets it used to make industrial and agricultural tyres in Port Elizabeth, South Africa. Prior to the sale, Continental manufactured bias-ply and radial agricultural tyres at the Port Elizabeth location. Continental’s ongoing production operations, such as its passenger car and light truck lines, are not affected by the news.

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Related news:

  1. New investors expected to restart GTEA production
  2. Titan acquires Russian tyre maker
  3. Conti begins Chinese run-flat production
  4. Apollo, Sumitomo close African deal
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Magna Tyres Group buys Polish tyres dealer Industra

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Magna Tyres

Magna Tyres has agreed to buy Polish tyre dealer Industra Ltd. Financial details have not been disclosed. But Magna Tyres Group did report that it is “on track to increase turnover to 600 million euros in three to five years amd that Industra’s annual net turnover is almost 10 million euros.

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Related news:

  1. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  2. Magna Tyres Group acquires OBO Tyres
  3. Aeolus becomes Prometeon Tyre Group
  4. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
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GRI acquires Protyre in the Baltics

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GRI

GRI recently acquired specialty tyre company Protyre in the Baltics. GRI has previously bought Protyre in Estonia as well as Nortire in the region. Together they highlight GRI’s material handling, agriculture, and OEM growth strategy. According to Martynas Jankauskis, managing director, of GRI-owned Nortire, the synergy with GRI is poised to “increase its sales volumes by ten times in the Baltics”.

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Related news:

  1. GRI acquires Leffler Industrial Tires in the United States
  2. GRI acquires Nortire OU
  3. GRI acquires Australia’s Axis Tyres
  4. Building on foundations of growth – GRI MD talks with T&A
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Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates

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Trelleborg

Yokohama Tire has bid around $2 billion for Trelleborg Wheel Systems in a move that could further expand the Japanese company’s growing off-highway tyre business. Sources close to the bid told Tyres & Accessories that Yokohama is currently in a due diligence process that is likely to be completed during the next month or so. Yokohama previously bid for Prometeon, the ex-Pirelli industrial/off-highway tyre business at the end of 2019. Despite ongoing discussions over the following year or so, that deal wasn’t completed. Yokohama appointed the former global head of Prometeon, Gregorio Borgo, as its European president earlier this year. Trelleborg Wheel Systems executives declined to comment on the reports.

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Related news:

  1. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  4. Trelleborg reorganisation brings greater prominence to tyres
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Anytime Concrete fined after 2019 tyre explosion death

Bridgesward; Pixabay

Concrete supplier Anytime Concrete was fined on 29 October 2021 after an agency worker contracted to work at its site died following a tyre explosion in 2019. Dudley Magistrates’ Court heard how the contractor suffered fatal injuries when using an air hose/compressed air to inflate the tyre of an articulated wheel loader.

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Related news:

  1. Tyre Boss Ltd ups marketing efforts
  2. Camoplast Solideal raises prices 10%
  3. Maxam enters agricultural tyre market
  4. Bridgestone to show ‘world’s largest’ 4m tyre at Bauma 2019
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Manchester-based industrial specialist Fork Truck Tyres continues to grow

Chris Anthony/Tyre Industry Publications Ltd

In mid-November Tyres & Accessories visited Manchester-based Fork Truck Tyres, a company that is rapidly becoming a key player in the Northern English industrial tyre business and considering its next steps towards expansion. T&A spoke with company founder John Grey, sales manager Tony Gallagher and warehouse manager Stuart Dorney in order to find out more.

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Related news:

  1. Manchester wholesaler exclusive GRI materials handling tyres supplier
  2. Totrax enters fifth year distributing Emrald
  3. Europa Tyres main UK distributor for ATG’s Galaxy brand
  4. GKN Wheels reports 300% increase in wheel output at Telford factory
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TX Tyres adds truck tyres and more to product portfolio, celebrates 50 years

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Founded as Panther Tyres, TX Tyres celebrates 50 years in business this year. In a recent visit to Liverpool, Tyres & Accessories took the opportunity to meet managing director and former NTDA chairman Stephen Callow, consider the legacy of his father (company founder Ron Callow) and to look to the future of the TX Tyres retreading operation, which includes diversifying into new segments.

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Related news:

  1. Marangoni Marix Energeco geared towards retread labelling
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Pirelli industrial/consumer tyre business split continues
  4. Prometeon COO talks with Tyres & Accessories
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