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You are here: Home1 / investment/subsidies

Investment/Subsidies

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Russian carmakers seek government support

International News

Russian car manufacturers have requested government support in order to help maintain staffing levels during the ongoing Russian financial crisis. According a report in Russia’s Kommersant, Kamaz, AvtoVAZ and Sollers have filed requests to their respective regional governments to access funds to help keep employment for workers.

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Related news:

  1. Russian auto market crashes
  2. Triangle talks investment during visit to Russia
  3. East European trailer market hit again, but regional nadir also reached
  4. Yokohama reports record nine-month 2017 net sales results
19th February 2015/by admin

Chinese contingent view potential Thai rubber sources

International News

A group of “leading rubber processors from China” are set to visit Thailand, Indonesia and Myanmar to survey sites to establish rubber plants in the next week or so. Thailand’s The Nation reports that about 10 rubber processors from Shandong province and representatives from the China Council for the Promotion of International Trade are scheduled to visit Indonesia, Myanmar (Burma) and Thailand between 19 and 25 November.

The group reportedly consists of around 50 representatives from both companies and government agencies. It will reach Thailand on 23 November where it will stay for two to three days with a view to considering “opportunities to invest in the South and Northeast, the country’s major rubber tree growing areas”.

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Related news:

  1. Chinese tyre makers off-shoring in Southeast Asia
  2. Cheng Shin investing more in Indonesia project
  3. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  4. Maxxis rewards leading retailers with Shanghai trip
17th November 2014/by admin

Rubber growers need replanting subsidies, says India’s tyre industry body

International News

The organisation representing India’s tyre makers has called upon its national government to encourage rubber replantation and offer rubber growers subsidies to plant new trees. According to news published by the Press Trust of India, the Automotive Tyre Manufacturers’ Association (ATMA) wants these measures implemented in order to address the reluctance of growers to plant new trees, which can’t be tapped for their first six to seven years. Without encouragement, the ATMA fears growers will continue to tap older, lower-yielding trees; the association comments that this practice is profitable for growers due to the high prices natural rubber currently commands.

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Related news:

  1. Indian tyre makers’ association seeks duties review
  2. Smit: Cut rubber trees to manage price
  3. Chinese contingent view potential Thai rubber sources
  4. India’s tyre makers meet government to talk rubber prices
17th October 2014/by admin

Hankook gains European funds for second Hungarian plant

Company News, International News, Premium

The European Commission has authorised €57.9 million of regional investment aid for Hankook Tire Hungary Manufacturing and Trading Ltd. This will be used to erect a second greenfield facility alongside Hankook’s plant in Rácalmás, which entered production in 2007. The new consumer tyre facility will produce ultra-high performance tyres, sealant and run-flat tyres, and these products will be sold globally.

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Related news:

  1. Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer
  2. Nexen appoints Seung-Do Jin as new European president
  3. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  4. Hankook stocks hit in factory fire
13th March 2014/by admin

What the rise of BRIC and MINT economies means for the tyre market

Editorial/Comment, International News
MINT economies

OK so the fact that China is the world’s largest tyre producer, the largest car maker, has the largest population and is likely to be the largest economy soon means that it is massively premature to write off the People’s Republic. Rapid growth and the huge scale of Brazil, Russia and India means these markets are still should be the focus of much attention. However, many international businesses have already latched onto this. So if everyone is competing for what they perceive as the same low-hanging fruit other opportunities could be going missing…or at least that is the question that is being raised in banking circles.

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Related news:

  1. Trading Places: How Tyre-Makers are Positioning Themselves in the World Economy
  2. Mexico tyre market grew at 19% CAGR 2009-2012
  3. Brisa & Pirelli Production Resumes in Turkey
  4. No F1 Tyre Decision; 2 Horse Race Between Michelin and Pirelli
31st January 2014/by admin

£3.5m investment to support Dmack PCR, TBR, motorsport range expansion

Company News, Motorsport, Premium, Product News

Carlisle-based tyre brand Dmack has secured an investment of £3.5m from private equity managers Maven. The injection of funds will help to fund the next stage of its growth, according to Dmack, boosting its production capacity and range of road-going and motorsport tyres.

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Related news:

  1. Dmack targeting ‘correct’ dealers to deliver mid-range PCR strategy
  2. Dmack launches UK-made gravel tyre range
  3. Dmack launches new, British manufactured WRC asphalt tyre range
  4. Dmack’s Avon Motorsport manufacturing partnership brings ‘step up’ in performance
23rd January 2014/by Andrew

Strategic investment group buys controlling interest in Kings Road Tyres Group

Company News, Premium

A controlling interest in Kings Road Tyres Group (KRT) has been acquired by a strategic investment group with members in China, Europe and North America. The UK management team, which bought out the company in the second half of 2011, will “continue to retain a significant equity position in the company and will maintain responsibility for day-to-day operation of Group businesses,” said a statement issued to Tyrepress by KRT today. The company said that the deal would “secure significant new equity investment” for KRT, which it said would help it develop its position as one of the leading players in the UK tyre industry.

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Related news:

  1. Sailun involved in Kings Road Tyres acquisition
  2. Chinese Manufacturers Focus on OTR Tyres
  3. Dmack targeting ‘correct’ dealers to deliver mid-range PCR strategy
  4. Sales of the Sentury
21st January 2014/by Andrew

A.T.U. sold in restructuring deal

Company News, International News, Premium

German-owned fast-fit network A.T.U. reports reaching a “decisive milestone in its financial repositioning.” The loss-making company’s management and majority shareholder (private equity group KKR) have reached a lock-up agreement with more than 80 per cent of its key bond creditors to reduce A.T.U.’s debt by more than €600 million and inject some €100 million of fresh equity into the firm. In addition, A.T.U. has received a senior secured, 2018-due credit line of more than €75 million from HayFin Capital Management.

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Related news:

  1. Mobivia Groupe to complete acquisition of tyre retailer A.T.U. this month
  2. Michelin catering to a proliferation of performance sizes
  3. TIA’s Rohlwing ‘best speaker’ at ITT Conference
  4. Leading marques considering Apollo as an OE supply partner
5th December 2013/by admin

£2.6 billion savings expected from road agency reforms

UK News

Motorists are set to benefit from a more effective road network and will have a greater say in how their roads operate. Turning the Highways Agency into a government-owned company will improve efficiency and reduce running costs, with taxpayers expected to benefit from savings of at least £2.6 billion over the next 10 years.

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Related news:

  1. Motorists anti lower motorway speed limit
  2. Survey points to wide support for winter tyre laws
  3. IAAF annoyed by lack of MOT details in latest government plans
  4. Pension legislation equals significant savings for Goodyear
29th October 2013/by admin

Trading Places: How Tyre-Makers are Positioning Themselves in the World Economy

Editorial/Comment, International News

As Tyres & Accessories' November issue went to press President Barrack Obama and David Cameron were out banging the drum for American and British business in India and China respectively. 24 hours after Obama set foot in the subcontinent, the Sunday Telegraph's resident cartoonist was portraying the leaders of two of the richest countries in the western world as beggers seeking scraps from two so-called “emerging markets.”

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Related news:

  1. What the rise of BRIC and MINT economies means for the tyre market
  2. Who knows?
  3. Preaching to the choir
  4. Why we need labelling enforcement
8th November 2010/by admin

Cable Ties Noose on Car Industry Aid

News

UK coalition government business secretary Vince Cable has ruled out further publically financed direct support for the UK car industry. Additionally he cast doubt on plans made by the previous Labour government that would have subsidised early purchases of low-emission vehicles in 2011. Cable told London’s Financial Times on 29 June, “We don’t want to go around the country waving a cheque book.”

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Related news:

  1. Ruia resigns as Dunlop India director
  2. Cost of Swansea tyre fire exceeds £1.5 million
  3. Maha Manufactures New Double Scissor Lift
  4. Production halted at two Kumho Korea plants following industrial action
29th June 2010/by admin

UK Scrappage Scheme Yields 372,401 New Car Registrations: SMMT

News

Society of Motor Manufacturers and Traders figures state that by 31 March, 372,401 new cars had been registered through the scrappage scheme, accounting for 12.2 per cent of all new car registrations in March. In addition, the scheme accounted for 3.2 per cent of the total van market in March, with 6,577 new LCVs registered through the scheme since it began in May 2009.

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Related news:

  1. New car demand recovering, registrations break million car mark in June
  2. SMMT satisfied with new car registration 7.7% February decline
  3. New car registrations down 4.4% in 2011, 2012 expected to be flat
  4. Private registrations boost June car sales
12th April 2010/by admin

Government Makes £30 Million Available For Electric Vehicles

News

The UK's streets and car parks could see thousands more charging points for electric and plug-in hybrid cars thanks to £30 million of Government funding. Transport Secretary Andrew Adonis today invited cities and businesses to join together to bid for the money which will help fund the installation of charging points on streets, car parks and in commercial, retail and leisure facilities.

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Related news:

  1. Government Aid to Secure Vauxhall Jobs
  2. Technology Strategy Board Awards £1m to Battery Development Consortium
  3. ‘Flagship’ Aylesbury HiQ Centre Opens
  4. Institution of Mechanical Engineers welcomes Vauxhall decision
19th November 2009/by admin

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