Tag: investment

Retreader Seryt Tyres reports growth in a time of consolidation and attrition

Retreader Seryt Tyres reports growth in a time of consolidation and attrition

12th March 2020 | 0 Comments

Goodyear’s decision to exit UK retreading in 2015, followed by Continental’s 2016 takeover of Bandvulc and Vaculug’s 2018 acquisition by Zenises Group changed the face of the UK retreading business in just three years. However, while the market has both contracted and consolidated in recent years, a core group of key retreading production bases remain. And while the largest retreading businesses often gain the spotlight, it is worth mentioning fast-growing operations as well. Sussex-based Seryt Tyres is one such company, so Tyres & Accessories got in touch with director Kevin Gillin and marketing manager Olly Townsend in order to find out more.

Continue Reading

2020 budget brings biggest inward investment in 30 years

2020 budget brings biggest inward investment in 30 years

12th March 2020 | 0 Comments

In what has, for obvious reasons, been dubbed a Covid-19 budget, new UK Chancellor the Exchequer (the Right Honorable Rishi Sunak MP) promised the highest levels of inward investment for 30 years including a number of initiatives that will help small and medium-sized business such as tyre retailers and garages.

Continue Reading

Queensland motor industry invests in Australian tyre recycler Green Distillation

2nd March 2020 | 0 Comments

The Motor Traders Association of Queensland (MTAQ) has become an investor in innovative Australian tyre recycler, Green Distillation Technologies Corporation (GDTC), which has discovered a process that turns end-of-life tyres into high value oil, carbon and steel.

Continue Reading

Bridgestone begins latest expansion at Polish car tyre plant

Bridgestone begins latest expansion at Polish car tyre plant

29th January 2020 | 0 Comments

Almost 18 months ago, Bridgestone announced it would invest at least 160 million euros in its passenger car tyre plant in Poznań, Poland. A stage in this factory expansion project began on 20 January with the laying of a foundation stone for additional production buildings.

Continue Reading

Cabot buys Chinese nanotube supplier for $115 million

13th January 2020 | 0 Comments

On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.

Continue Reading

Guizhou Tire begins $350 million construction project on two China factories

7th January 2020 | 0 Comments

Guizhou Tire recently broke ground on two new tyre production facilities near the firm’s headquarters in Guizhou, Guiyang province. According to Asian Rubber Journal reports, when operational, the first - a $307 million plant - is expected to generate nearly $426 million annually. Capacity is salted to be 3 million truck tyres a year.

Continue Reading

ToughTech’s expansion supported by £100,000 NPIF investment

ToughTech’s expansion supported by £100,000 NPIF investment

13th December 2019 | 0 Comments

Tyre pressure monitoring systems (TPMS) firm ToughTech has received a £100,000 investment from NPIF – BFS & MSIF Microfinance, managed by GC Business Finance and MSIF and part of the Northern Powerhouse Investment Fund.

Continue Reading

European commission approves 3.2 billion euros of battery research support

European commission approves 3.2 billion euros of battery research support

9th December 2019 | 0 Comments

The European Commission has approved 3.2 billion euros of battery research and development support under EU State aid rules. The funding comes as the result of an Important Project of Common European interest (IPCEI) application jointly notified by Belgium, Finland, France, Germany, Italy, Poland and Sweden to support research and innovation in the common European priority area of batteries.

Continue Reading

Dunlop Aircraft Tyres considering Indonesia factory

Dunlop Aircraft Tyres considering Indonesia factory

5th December 2019 | 1 Comment

Dunlop Aircraft Tyres Ltd (DATL) is planning to invest 1 trillion rupiah (£54.14 million; 64 million euros; US$70.92 million) in an aircraft tyre retreading factory in Karawang, West Java, Indonesia. According to several local news sources, the retreading factory will be followed by a new aircraft tyre production plant as well.

Continue Reading

Roadbot’s $600 million UAE tyre plant

Roadbot’s $600 million UAE tyre plant

25th November 2019 | 0 Comments

In January 2019, construction of the United Arab Emirates’ (UAE) first tyre plant began. Now, the best part of a year later, sources operating in the Middle East and Africa region report that the Roadbot factory, which is being built in KIZAD’s China-UAE Industrial Capacity Cooperation Demonstration Zone by Tirebot, is nearing the completion of its initial stage of development. During the ground-breaking of the plant in January, company representatives said the factory would become operational in October 2020. As much as US$600 million is reportedly being invested in the project.

Continue Reading

Autogem invests in new mezzanine level

Autogem invests in new mezzanine level

22nd November 2019 | 0 Comments

Autogem has invested in a new mezzanine level at its headquarters/warehouse in order to provide “greater efficiencies and speed of product delivery to customers”. The expansion, which has taken place roughly two years after the company’s move to Autogem House in Abbey Road, North London, creates 400-pallets’-worth of additional space, which in turn allows the company to house more products.

Continue Reading

Quick Lane opens new Colchester centre

Quick Lane opens new Colchester centre

20th November 2019 | 0 Comments

Quick Lane Tyre & Autocentre opened its new Colchester branch today as the brand continues its UK and European growth.

Continue Reading

Halfords buys Tyres on the Drive for £746,000

Halfords buys Tyres on the Drive for £746,000

13th November 2019 | 0 Comments

In October Halfords Group bought troubled online tyre retailer Tyres on the Drive for £746,000, but the company had previously valued the business at as much as £150 million.

Continue Reading

Tirescanner.com live in 42 US states, multi-million dollar funding close

Tirescanner.com live in 42 US states, multi-million dollar funding close

7th November 2019 | 0 Comments

Less than a year after Tirescanner.com was founded, at the start of November, the business reported that it is live in Florida. This means Tirescanner already covers 1200 postcodes codes, matching consumers with products from a range of hundreds of thousands of tyres and – crucially – connecting them with “the best local retailers”. At the moment this works on a next day install, but the plan is to take this to a same-day level. And more states are said to be coming fast. We’re used to pretty rapid progress when it comes to dotcom start-ups, but such fast growth is more understandable when you consider that Tirescanner is driven by Blackcircles.com founder Mike Welch. Tyres & Accessories recently caught up with Welch in order to find out how the company plans to continue and sustain this growth.

Continue Reading

Bridgestone looking to increase capacity in South Africa

8th October 2019 | 0 Comments

Bridgestone is considering increasing production capacity at its tyre factories in South Africa in order to gain market share in the country’s minibus taxi segment. It appears to be looking at investing around ZAR 300 million (£16.1 million) in its plants, a capex additional to the ZAR 400 million investment it is currently completing at the company’s main production site in Brits.

Continue Reading

Buy subscriptions, premium industry reports, and business directory entries in our shop. | Dismiss

[ + ]