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You are here: Home1 / Itochu

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Asahi Kasei Europe joins blockchain technology pilot

Company News, International News
Circularise; Asahi Kasei Europe

In September 2022 Asahi Kasei Europe joined a joint project on blockchain technology relating to ISCC PLUS certification. Led by the Dutch software provider Circularise and the Japanese trading company Marubeni, this project aims at enhancing the efficiency of the certification process and the integrity of the certified data.

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Related news:

  1. Sustainable S-SBR: Asahi Kasei & Shell sign butadiene agreement
  2. Tyre manufacturing suppliers Lanxess and Arkema listed in DJSI
  3. Project TREE: A blockchain-driven, more sustainable rubber supply chain
  4. Kwik Fit extends Project TREE to 3rd tyre brand
11th October 2022/by Chris

Kwik Fit extends Project TREE to 3rd tyre brand

UK News

Following a successful pilot scheme, Kwik Fit is increasing product availability for customers who want to buy tyres that support sustainable rubber production and help protect the rainforests of Indonesia. The company is now offering three brands of tyre that tick these boxes.

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Related news:

  1. Project TREE: A blockchain-driven, more sustainable rubber supply chain
  2. Hankook participating in Project TREE
  3. Continental purchasing rubber via HeveaConnect
  4. Michelin and Pirelli lead in rubber sustainability – Context Group
11th April 2022/by Stephen

Kwik-Fit owner ETEL set for FY22 break-even after FY21 loss

Company News, UK News
Itochu

Itochu’s European Tyre Enterprises Ltd (ETEL) business, which owns Kwik-Fit, Stapleton’s and now Murfitts Industries, posted a loss of 3.6 billion yen (£22.97 million; 27.54 million euros; US$31.55 million) for the financial year ended 31 March 2021. According to Itochu’s annual report, which was published on 17 December 2021, ETEL will return to break-even in full-year 2022 results.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  3. ETEL announces senior promotions, new management team
  4. Kwik Fit expansion: Bath added to target list of 25 towns and cities
13th January 2022/by Chris

Itochu: Murfitts Industries acquisition about sustainability and vertical integration

Company News, International News

When Kwik-Fit and Stapleton’s owner ETEL announced the recent acquisition of UK tyre recycling specialist Murfitts Industries on 20 December 2021, ETEL’s owner – the Japanese Itochu Group – also shared details of its rationale for the takeover.

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Related news:

  1. Tyre manufacturing suppliers Lanxess and Arkema listed in DJSI
  2. Michelin tyres to be 100% sustainable by 2050
  3. Bridgestone releases Sustainability Report 2016
  4. Bridgestone publishes 2017-18 Sustainability Report
13th January 2022/by Chris

Itochu bids $1.7 billion for Hitachi Construction Machinery stake

Company News, International News
Hitachi Construction Machinery (Europe) NV

Hitachi is selling around half its 51 per cent shareholding in Hitachi Construction Machinery Co Ltd for 200 billion yen (£1.271 billion; 1,524 billion euros; US$1.7 billion) to Kwik-Fit’s owner Itochu and investment fund Japan Industrial Partners, according to reports published by Nikkei on 13 January 2022. Itochu confirmed that it is “considering this matter”, but declined to give further details later the same day in a statement that read:

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Related news:

  1. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  2. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  3. Mahansaria Tyres (MTPL) to buy Tyres International
  4. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
13th January 2022/by Chris

Project TREE: A blockchain-driven, more sustainable rubber supply chain

Company News, UK News

Japan’s Itochu Corporation announced today the commercial launch of Project TREE, an initiative that uses a blockchain-based traceability system to ensure the sustainability and traceability of natural rubber. Partners participating in the Project include Itochu subsidiaries and tyre manufacturers, and the UK will be the first market to benefit.

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Related news:

  1. Deforestation-free rubber: Pirelli, BMW working with BirdLife International
  2. GPSRNR policy framework drives commitment to sustainable rubber sourcing
  3. ETEL announces senior promotions, new management team
  4. Further tyre makers publish GPSNR-aligned rubber procurement policies
1st December 2021/by Stephen

Kwik Fit expansion: Bath added to target list of 25 towns and cities

UK News
Kwik Fit

Kwik Fit has added Bath to its list of target locations for new centres, making it 25 towns and cities that the UK’s largest retail chain is focusing on. At the start of July Kwik Fit said it is looking for “new centres across the country” especially those with “proximity to supermarkets and leisure facilities”.

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Related news:

  1. Kwik Fit seeking town properties as part of expansion plan
  2. ETEL continues to lead top 20 UK tyre retailers 2019
  3. Kwik Fit owner Itochu prepares for sale scenario
  4. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
29th July 2021/by Chris

Kwik Fit seeking town properties as part of expansion plan

News, UK News

Kwik Fit has commissioned property consultancy Rapleys to find “new centres across the country”, in a move that reveals the market-leading fast-fit’s expansion plans.

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Related news:

  1. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  2. ETEL continues to lead top 20 UK tyre retailers 2019
  3. Kwik Fit owner Itochu prepares for sale scenario
  4. Kwik-Fit For Sale for £250 million?
9th July 2021/by Chris

Yokohama buys Polish tyre distributor from Itochu

Company News, International News
EMIS

On 6 May 2021 Yokohama Europe GmbH, signed an agreement to acquire 100 per cent of Poland’s ITR CEE Spółka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tyres in central and eastern Europe. The acquisition is scheduled to be concluded on 14 May 2021, after which the Polish company’s name will be changed to Yokohama CEE Spółka z.o.o.

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Related news:

  1. ETEL, Kwik-Fit decline to comment on sale speculation
  2. Kwik Fit owner Itochu prepares for sale scenario
  3. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  4. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
14th May 2021/by Chris

Tyre manufacturing suppliers Lanxess and Arkema listed in DJSI

Company News, International News

In addition to the tyre manufacturers listed, at least two of the best-known manufacturing material suppliers were also listed on the Dow Jones Sustainability World Index effective 23 November 2020 – Arkema and Lanxess.

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Related news:

  1. Nynas to Supply Lanxess Rubber Production Following DAE Ban
  2. Birla Carbon releases 7th sustainability report
  3. Michelin and Pirelli lead in rubber sustainability – Context Group
  4. EU model used for Chinese green tyre specification
20th November 2020/by Chris

2020 vision impossible in an unpredictable year

Company News, Editorial/Comment, International News, UK News
Free Photos; Pixabay

It is somewhat ironic that the number 2020 has inherent associations with perfect vision and yet this year has turned out to be the most unpredictable in a lifetime. For example, no-one saw President Trump’s twitter-borne sideswipe at Goodyear’s tyres coming last month – how could they? However, on a more serious note, the effects of uncertainty has real-life impact. And this month has seen more than its fair share of such harsh realities in the tyre industry.

Tyres & Accessories logoThis article appears in full in the October edition of Tyres & Accessories magazine. Not yet a subscriber? You can change that here.

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Related news:

  1. ETEL continues to lead top 20 UK tyre retailers 2019
  2. Goodyear starts direct online tyre retail in Europe
  3. Goodyear expanding direct online tyre sales across Europe
  4. Michelin the number one consumer researched tyre brand: Tyre Reviews
2nd October 2020/by Chris

Itochu sold 26 Kwik-Fit freeholds in the first half of 2020

UK News

While speculation continues relating to the apparent sale of the Kwik-Fit tyre retail business, we do know that the Itochu-owned enterprise sold the freeholds to 26 of its branches in a double-digit million-pound series of transactions during the first half of 2020.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. ETEL announces senior promotions, new management team
  3. ETEL continues to lead top 20 UK tyre retailers 2019
  4. ETEL, Kwik-Fit decline to comment on sale speculation
22nd September 2020/by Chris

ETEL, Kwik-Fit decline to comment on sale speculation

Company News, International News

On Friday 18 September 2020, it emerged that Kwik-Fit and European Tyre Enterprises Ltd (ETEL) owner Itochu has appointed investment bankers Nomura to act as its strategic investment consultancy with relation to the future of its European tyre business. The move has been widely interpreted as sale preparation. In light of the news, Tyres & Accessories contacted ETEL and Kwik-Fit representatives in order to find out more. Both declined to comment officially. However, supplementary information on Itochu’s third-quarter 2020 and full fiscal year 2020 results give further details of the conglomerate’s explanation as to why the company did not present a 2021 profit forecast for ETEL as it normally would.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. Itochu Buys Kwik-Fit for £637 million
  3. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  4. Pirelli Sells CPK Tyre Wholesale Business to Stapleton’s
21st September 2020/by Chris

Kwik Fit owner Itochu prepares for sale scenario

Company News, UK News

The UK’s largest tyre retailer, Kwik Fit, is being prepared for a sale. The Japanese Itochu group, which owns the European Tyre Enterprises Ltd (ETEL) holding company that controls both Kwik Fit and its wholesale counterpart Stapleton’s Tyre Services, has appointed investment bankers Nomura to advise on strategic options for the company, according to Sky News, with insiders suggesting a sale is very likely.

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Related news:

  1. Kwik Fit benefiting from increased mechanical work
  2. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  3. UK tyre retailers continue right-sizing
  4. Kwik Fit expanding into Italy, across Europe
19th September 2020/1 Comment/by Chris

ETEL continues to lead top 20 UK tyre retailers 2019

Leading Retailers (UK), Premium, UK News

After years of expansion amongst the top 20 UK tyre retailers, the latest data shows that this trend peaked in 2017/2018 when the top 20 accounted for 2014 branches. The same 20 tyre retailers had 1980 branches between them in 2018/2019. And what’s more, the reorganisation of one retailer alone accounted for a 40-centre decline in branch count, with the overall figure remaining positive due to growth at other chains. Here Tyres & Accessories analyses the branch count data in the context of 10 years of comparable research.

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Related news:

  1. Micheldever/Protyre moves up to fourth, Lodge Tyres jumps in retail rankings
  2. Protyre is fastest growing UK retail chain for 2nd straight year
  3. Tyre retail market in a redistribution phase
  4. Micheldever’s Protyre retail chain is UK’s fastest growing
1st May 2019/by Chris
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