Following the official opening of the Ferentino tyre factory in Sri Lanka last week, a closer look reveals that the company has even more in common with its European and particularly Italian colleagues than it first appears.
As we reported in January 2017, Onyx Group subsidiary Ceylon Steel bought Marangoni’s car tyre radial processes, technological know-how and production line from Marangoni Group subsidiary a few years ago.
Ferentino Tyre Corporation’s Horana, Sri Lanka tyre factory was officially opened by Sri Lankan president Gotabhaya Rajapaksa on 14 January 2021. The facility was constructed with an investment of US$250 million and can reportedly produce 2.4 million tyres annually. Tyres made at the Ferentino factory will cross a number of sectors including radial car, SUV, bicycle and even three-wheelers. These include a “Mythos” product line reminiscent of the Marangoni passenger car tyre range previously produced in the same place (see below). Of the 2.4 million tyres produced annually at the Ferentino factory in this phase, 80 per cent are destined for export markets. A second phase is scheduled to be completed in March 2022.
Shares amounting to roughly a quarter of Marangoni Holding SpA are up for sale in three lots equal to 8.57 per cent (or 16,756 shares) each. The shares, currently held by Ma.Gi.Ma Srl based in Trento, will go to auction on 9 December 2020. The price of base of each lot is 1,423,125.00 euros and therefore a total of 4,269,375 euros.
Marangoni Tread North America reports that an RDG 200 Ringtread Drive retread has been driven for over 500,000 miles. The RDG 200 Ringtread is a closed shoulder drive tread uses particular compounding technology for “extreme mileage”. The RDG 200’s original tread depth is 27/32nds (21.5 mm).
Marangoni has enlarged its range of pre-cure rings and treads for winter applications with a new product, the Ringtread Blackline ICE202. This 3PMSF drive tyre pattern was developed with long-haul use and “severe winter conditions” in mind, such as those encountered in Nordic countries. The ICE202 is already available in size 315/70R22.5, with 275/70R22.5 and 295/80R22.5 to follow soon.
The tyre retreading business has stagnated in many European markets for years. Imports of new tyres from the Far East and the major tyre brands’ own, large-scale retreading plants place small and mid-sized retreaders across Europe under substantial competitive pressure. Although consolidation has become the rule in recent times, a remarkable exception to this rule – one characterised by entrepreneurship and persuasiveness – can be found in Germany’s retreading market: Owner-operated Reifen Quirmback in Zweibruchen, Rhineland-Palatinate has invested a seven-figure sum to develop its own truck tyre retreading, and by doing so enters a completely new business area. When we visited the site, we discovered a very good reason for entering this line of work.
The coronavirus crisis is global in its spread, but as generally known its affect so far has varied from country to country as well as from industry to industry. This is certainly the case within the retreading sector. While it’s been business as usual in Scandinavia and, to some extent, markets in the Baltic region, firms in Mediterranean countries, particularly Italy, were plunged into turmoil. Although the unanimous view amongst material suppliers in Europe – a lot can be read about the state of the market and its development from observing these companies’ business – is that Europe’s retreading market has slumped by around ten to 15 per cent up to and including May, forecasts for the remainder of the year vary. In doing so, they depend significantly upon the answer to one particular question: Are we experiencing a shortage of new tyres, as during Europe’s boom retreading years of 2010 and especially 2011? We asked how things look at two of Europe’s leading material suppliers – Kraiburg and Marangoni.
The new Marangoni Marix M-Port retreaded port tyre is designed to be fitted on “all the articulated positions of both the truck and trailer axles used in port operations”. The new M-Port features a bi-directional tread with a deep pattern and reinforced shoulders in order to withstand impacts and lateral friction.
Italy’s Prime Minister announced last week that non-essential production within the country must stop in order to combat the coronavirus pandemic. Marangoni Retreading Systems has asked the government to clarify whether the transportation sector counts as an essential service under the new rules, but at the same time has taken steps to ensure its ability to continue meeting demand should production at its Ferentino cease.
Marangoni Tread North America (MTNA) has communicated that it “remains operational” despite the Covid-19 pandemic. According to MTNA, the company is “committed to providing superior products and services to our customers. We are taking active steps to prevent any interruption in our business processes.”
Marangoni has confirmed that its production and logistics activities are “running smoothly in all…plants” despite the Covid-19 coronavirus outbreak in Italy.
Writing in a statement published on 11 March 2020, Marangoni representatives said: “We are therefore able to receive and process the orders while adopting all the necessary procedures to protect the workers’ health. In particular, our company is taking all the actions to be consistent with the measures provided by the responsible Authorities.”
Marangoni Group has posted a statement on its twitter feed reassuring customers that its Italian production facilities will continue manufacturing despite the coronavirus (Covid-19) emergency. The statement follows the news that 16 million Italian citizens have been quarantined in the North of the country as a result of the epidemic.
Marangoni Meccanica has launched a new corporate brand identity. These changes come at a time when the company, which was recently recapitalized and spun off from the Marangoni Group in June, is evolving through a strategic journey with the objective of offering to its customers an even more powerful support and commitment.
The Marangoni Ringtread ‘MIX’ range has grown with the addition of a new pattern, the Blackline MIX202. Marangoni Retreading Systems describes the MIX202 drive axle tyre as “an innovative pattern designed for use on the drive axle of vehicles operating in mixed road/quarry applications requiring high mileage in very demanding surfaces.”
Two months have passed since Marangoni Meccanica changed hands, exiting the Marangoni Group with 10 million euros of recapitalization from new local partners: The Finanziaria Trentina, Alpenring, the South Tyrol-based financial firm Caran and now Marangoni Meccani has appointed a new CEO and broadened its board make-up. All this amounts to a “restart”, according to […]
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