Industrial, OTR and specialty tyre manufacturer GPX International Tire Corporation reports it has reached an agreement with CGS of the Czech Republic for the sale of GPX’s Rumaguma tyre manufacturing facility in Serbia. The transaction is expected to close in the second half of September 2008 pending approval by the Serbian anti-trust authorities.
CGS is one of Europe’s largest agricultural tyre producers and manufactures these products under the Continental and Semperit brand names. Rumaguma has been producing tyres for CGS for many years and is currently the facility’s largest customer. As a result, CGS is well acquainted with the factory and the quality of the product produced at Rumaguma.
Based near the port of Rotterdam, industrial tyre wholesaler Bandengroothandel Mast is garnering a reputation as a market leading specialist in this particular sector. The family owned, independent company has continued to expand its trading horizons over a number of years, and today it can report that a full range of industrial tyres is available within its CargoMaster and LiftGuard private brands. The products included in these two brands include solid, pneumatic, skid steer, extra heavy duty pneumatic skid steer and forklift tyres.
During the past couple of years, however, Mast has also developed a growing sales market in the larger, heavy industrial tyre sector, supplying items such as harbour, quarry and mining tyres. The company now considers itself to be a leading option to consider when it comes to purchasing all types of robust tyres used in harbour and quarry work.
The go-ahead has been given for Titan International to gear-up for giant tyre production. The company’s Board of Directors approved the allocation of funding to increase mining tyre production by the addition of 57 and 63-inch sizes to its range. This injection of finances should give Titan the ability to produced around 6,000 of the giant radials per year.
“We are very excited about this newest venture since there are only two manufacturers in the world that produce 63-inch radial tyres: Michelin and Bridgestone,” said Titan Chairman and CEO Maurice M. Taylor Jr. “This is what it’s all about; a small American company going up against two powerhouse foreign companies, one French, the other Japanese.
“Titan has assembled a great team, and we believe that we have a better way to produce these giant tyres. We believe radial tyres perform better on 15-degree wheels, which is what cars and trucks now utilise. Titan has developed these wheels and we plan to produce our new tyres on a 72.5-inch 15-degree wheel at the same time as we produce 63-inch radial tyres.”
Titan achieved a 52 per cent increase in net sales in third quarter 2006. Net sales were $156.1 million, compared to $102.7 million the year before. Titan recorded gross profit of $17.1 million, a 56 per cent increase when compared to the $11 million of gross profit in third quarter 2005. However, a 40 per cent tax rate in 2006 meant Titan recorded third quarter net income of $0.5 million, compared to last year’s third quarter net income of $1.2 million. Using a 40 per cent tax rate on last year’s pre-tax income, Titan’s third quarter 2005 net income would have been $0.2 million.
Kirkby Tyres has been involved in the wholesaling and export of truck tyres for close on half a century, and has built a reputation for the quality of goods supplied, dependable delivery and economic pricing. Kirkby has also become known as a reliable supplier of hard to get items, such as compactor tyres, mining tyres and military tyres. More recently, however, the company has made a name as a major supplier of popular sizes and types to the OE and replacement markets, holding massive stocks of major brands and imported makes, mainly from China.
Amerityre Corporation has entered into a manufacturing license agreement with Qingdao Qizhou Rubber Co., Ltd., Qingdao, China. The agreement grants the Chinese company a license to initially manufacture polyurethane elastomer retreads for three large-size tyres for mining applications, using Amerityre’s innovative retreading process, in exchange for a $400,000 license fee payable over the next two years.
Reifen Essen 2006 sees the launch of a new private brand label tyre, named Infinity. The rights for world-wide distribution are held by the Al Dobowi Group, based in Dubai and its divisional Company responsible for marketing in Europe is Goldspark Trading Ltd.
(Akron/Tire Review) Effective 1 June Yokohama Tire Corp. will increase prices for its passenger, light truck, medium truck radial and “some” OTR tyres by up to 7 per cent.
A 5-7 per cent increase will go into effect for medium truck radial tyres, light truck commercial tyres, earthmover and mining tyres, as well as Mohawk and private brands, according to Yokohama. There will also be in-line adjustments on select sizes and treads, the tyremaker added.
(Akron/Tire Review) Michelin North America (MNA) has confirmed reports that it plans to invest $85 million over the next five years at its OTR tyre production facility in Lexington, South Carolina, increasing production by nearly 50 per cent.