On 6 January REE Automotive announced the appointment of David Goldberg as the company’s chief financial officer (CFO). Effective Feb 2022, Goldberg joins REE from Magna International, one of the world’s largest automotive suppliers, where he is currently senior vice president of corporate development, following a role as vice president of finance and corporate development at the company.
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.
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 has expanded its portfolio of ‘Made in Holland’ products with the introduction of the Magna M-Terrain E4/L4 in size 29.5R25. This particular dimension, which was specifically developed for medium and large wheel loaders as well as articulated dump trucks, has been part of the M-Terrain line-up for many years. In addition to being made in the Netherlands, production of the tyre will also continue in China.
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.”
Magna Tyres Group has opened a sales office in the Czech Republic. It said the move has been in response to demand for the Magna range of OTR ad specialist tyres in Eastern Europe. It added that it has been encouraged by “unutilised market potential in this region.” The region was previously serviced by its Polish office.
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.
Magna Tyres Group has appointed Elie Sleiman General Manager of its Singapore office, effective 1 March. Sleiman will lead sales within the Oceania & South East Asia region and has responsibility for extending the Magna brand presence, distribution network, and will focus on developing strong customer relationships.
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 shares that it has opened a sales office in the USA. Its premises in Fort Lauderdale, Florida opened on 1 September and is the company’s second office in North America. Magna Tyres Group has been present in the region since establishing a sales office in Canada at the start of this year.
Magna Tyres Group’s Bauma 2019 exhibition was used by the Dutch company to demonstrate its fast-growing position in the OTR tyre segment. Exhibiting its products, including 18 OTR, port, industrial, and truck tyres, from a two-level stand with a 30m screen, the show was also used as the platform for the official launch of its new construction range.
It’s only a couple of months since we last reported a capacity increase at the Magna Tyres Group factory in Hardenberg, the Netherlands, however the company has now announced its intention to implement another OTR tyre expansion project. While the last expansion focused on increasing 26.5R25 and 29.5R25 capacity, this time round Magna Tyres will increase 17.5R25, 20.5R25 and 23.5R25 production – capacity for these is expected to reach 7,000 tyres in 2019. Magna Tyres Group comments that this growth is in keeping with its 2018 to 2023 business plan.
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.”
The latest product launched by Magna Tyres Group is a new tyre for articulated dump trucks operating in moderate and difficult conditions. The Magna MA02+ is available in the popular size 875/65R29 and, according to the manufacturer, has been designed to optimise productivity in the harshest environments.