Magna Tyres Group is acquiring Australian-based Fennell Tyres International. Fennell Tyres International is known for its competitively priced, quality OTR, mining and TBR tyre solutions. Financial details have not been disclosed. According to the company, “Magna Tyres recognizes the demand for high quality off the road tyres in Australia and the value of a long-term relationship with customers”. The firm’s goal is to strengthen its position worldwide.
Magna Tyres has refreshed its brand image with a new logo, website and corporate slogan – You know why. The company describes its new identity as “even more recognisable, more professional and with a strong impact” and believes it will help it to grow Magna Tyres into an “even stronger” brand.
On 23 March 2021 the Magna Tyres Group celebrated its 15th anniversary since its foundation in 2006. In the short time since its foundation, the group has grown from a rubber compound specialist to a global player in the market of OTR, Industrial and Truck tyres.
Customers based in Europe have been able to place orders and gain information at the Magna Tyres Portal since last October, and Magna Tyres Group is now extending its reach to markets all around the world. Effective immediately, all Magna customers can utilise the entire Magna Tyres Portal, which in addition to covering the entire process from providing initial information to ordering tyres, includes many important features such as product and technical documentation, marketing support and aftersales service.
Magna Tyres Group has added to its material handling tyre line up with the introduction of the 18.00-25 Magna M-Stacker tyre. This is a tyre for use on reach stackers, empty container handlers and heavy-duty forklifts and is designed to improve the efficiency and productivity of cargo and port operations.
Establishing offices in Canada and the USA last year have helped Magna Tyres Group gain a foothold in the North American off-highway tyre market, and the company reports demand for its products “rising rapidly” since the US office opened its doors in September 2019. A new sales manager now joins this office. Ryan Cusick has come on board to help Magna Tyres “focus even more on the brand presence, the distribution network and relationship with current and new customers.”
With the appointment of Arjen de Kruijf as its new chief financial officer, Magna Tyres Group aims to secure “continued growth” within a “challenging tyre business” in the years to come. De Kruijf begins in his new position on 1 April, taking responsibility for financial operations, regional finance teams and financial relations.
It’s almost three years since Magna Tyres Group acquired OBO Tyres, the largest retreader in the Netherlands. Since that time, the Obo facility in Hardenberg has been instrumental in Magna’s ‘Made in Holland’ production plans. The site has now been renamed ahead of a further increase in capacity for these products. The Obo business in Germany has also gained a new name.
Magna Tyres Group reported a 48 per cent increase in turnover in quarter one 2019 compared to the same period last year. With a realised EBIT of 2.05 million euros, a figure three times higher than in Q1 2018, Magna Tyres Group states that it is achieving its strong growth ambitions in 2019.
Magna Tyres Group is expanding its network of offices and distribution into the United States and Canada. According to the company, Magna Tyres Group will start its expansion into the North American continent with an office in Canada.
Magna Tyres Group has opened a new regional office in South Africa. In recent years, Magna Tyres has been extremely successful in South Africa and the neighbouring countries. According to the company, the objective is to increase market share, focus on improving customer relationships and satisfaction in this high potential region.
One way of avoiding anti-dumping duties applicable to tyres imported from China is not to import tyres from China. This is what Magna Tyre Group is now doing in the USA – the company is meeting increased demand for OTR tyres in this market by expanding its production capacity in Thailand. Tyres made in this facility, comments Magna, are don’t attract tariffs in the USA and thus offer the opportunity for the company to “massively increase our presence on American market.”
Magna Tyres Group has launched the Magna MA02 Scraper. According to the company, this tyre is explicitly designed for scrapers and graders and will make the groundwork for all your projects as effortlessly as it possible can be.
Cemex UK has renewed its OTR tyre contract with Vacu-Lug until the end of 2019. Operating from approximately 60 quarries and 200 ready-mix concrete plants with a large fleet of modern mobile equipment being able to depend on a tyre service is crucial to Cemex’s fleet operations.
When Magna Tyres Group officially commenced production at its Obo Tyres plant in Hardenberg, the Netherlands on 11 January, Obo general manager Peter Schrijver told us that high levels of efficiency, lower transport costs and lower import duties make it “very cost effective” for Magna Tyres to manufacture in Europe. He also said that Magna had placed a further order for 23-, 26- and 29-inch presses and would undertake measures to effectively double capacity. Just over half a year on, the company has completed its first expansion in Hardenberg. According to Magna Tyres, OTR tyre production capacity is almost twice what it was at the start of the year.