Amtel-Vredestein NV has acquired six multi-brand tyre sales and service centres from the Vils Group in the Perm region of Russia. The company currently operates outlets in and around Moscow. Perm is located approximately 1300 kilometres east of Moscow along the western slope of the Ural Mountains.
The Tyre Industry Federation (TIF) has strengthened its position as the leading authority for the tyre industry by voting to accept the Industrial Tyre Association, National Tyre Distributors Association, Retread Manufacturers Association and Tyre Recovery Association. The federation now includes all the significant associations within the tyre industry and is representative of the whole tyre supply and disposal chain in the UK.
(Akron/Tire Review) Amtel-Vredestein NV has completed an agreement to sell its Volgograd-based subsidiary, Amtel-Carbon, for $21 million, according to Russian and European news reports. Amtel-Carbon primarily produces carbon black used in tyre production. The buyer’s name was not disclosed, but the decision was described as part of the manufacturer’s strategy to focus on tyres for premium and mid-range vehicle segments.
Amtel-Vredestein OJSC, Amtel-Vredestein Holdings’ Russian operation, has appointed a new deputy general manager. In his new position Dmitry Zubkov will take responsibility for investor and press relations. The announcement follows the news that Mr Zubkov’s predecessor, Gernardi Frolov, has left the company.
Amtel-Vredestein’s London IPO has raised $201 million from the sale of 27.1 per cent of its shares, valuing the company at $742 million in total. The total value is less than the $1 billion the company had hoped for, although insiders are said to be pleased with the result.
Amtel-Vredestein lowered the price of its initial public offering after some investors shied away from the initial price range. News sources had also reported that the placement looked expensive compared to the $70 million the company got for selling a 12.4 per cent stake to Russia’s Alfa Group and Temasek Holdings, Singapore’s state-owned investment company, in July.
Russian-Dutch tyre maker Amtel-Vredestein has admitted to using tax optimisation schemes up to 2002, according to Russian newspaper Vedomosti. The report refers to a period before Amtel bought Vredestein and comes after Amtel-Vredestein set an indicative range of $13 to $16 per Global Depositary Receipt in its London IPO, which is expected to raise around $300 million and value the company at $1.2 billion.
(Akron/Tire Review) Amtel-Vredestein, the new company formed to manufacture and market Vredestein and Amtel tyres throughout Russia, has purchased 40 retail tyres stores in that country. In an interview with Tire Review in August, Alexi Gurin, CEO of Amtel-Vredestein, hinted that the company might pursue a retail strategy, saying it would make sense there. Amtel-Vredestein reportedly plans to own as many as 300 retail outlets. The recently purchased outlets come under a variety of banners. No new name has been decided by Amtel-Vredestein, but the company is looking to consolidate all of its stores under one market name.
Amtel is offering as many as 19.23 million Global Depositary Receipts, each backed by one ordinary share, at $13 to $16, the company reported. Russian companies have raised about $3.5 billion in share sales in 2005, more than in the 13 years since communism’s demise, the Interfax news agency has reported.
That stake, which includes as many as 11.54 million new shares, will equate to 29.5 per cent of Amtel, valuing it at as much as $1 billion. The company originally said it would sell 25 per cent of its stock. Now Amtel is offering 19,230,770 common shares, including 7,692,308 existing shares. The remainder of the offering will consist of new shares.
(Akron/Tire Review) Since its formation in the aftermath of communism in Russia, Amtel has had its eye on greater things. Once a collection of low-tech, Soviet-era tyre factories, bought up by founder and India native Sudhir Gupta, Amtel has invested heavily in modernising its plants and improving its tyre technology.
Steady growth gave the company the capital to make a bold move, which it completed in April with the acquisition of Dutch tyremaker Vredestein Banden. Now, it has unleased that top-shelf tyre brand on the Russian market.
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Russian tyre producer Amtel plans to attract $250 million at an initial public offering in London next month, Reuters has reported. Amtel-Vredestein plans to sell 25 per cent of its stock at the IPO, which is planned for 10 November, the news source said.
BKT is set to embark on ambitious expansion plans designed to increase the company’s tyre production capacity by 66 per cent. The Indian company currently runs three tyre factories located at Waluj (Western India), Bhiwadi (Northern India) and Chopanki (Northern India). In terms of tyre numbers this means BKT will more than double radial tractor tyre capacity to 250,000 tyres a year. Total capacity for heavy earthmover tyres will be raised from 10,000 to 50,000 tyres per annum.
Tyre manufacturer, Balkrishna Industries Ltd says it will invest 3 billion rupees (£39 million) on expansion plans. The board of directors has reportedly approved the plans which include increasing tyre manufacturing capacities at Bhiwadi, Waluj and Chopanki plants to 100,00 tonnes per annum against 60,000 presently.
Vredestein has announced a new addition to its range of tractor tyres. According to the company, the new Traxion85 represents the standard for modern medium-class tractors. Following the success of its Traxion+ extra wide 65 and 70 series products, Vredestein has developed the Traxion85 as a successor to the well-known Tractor Super Grip.
The design of the Traxion85 has the same roots as the Traxion+, which has been used in agriculture since 1997. With this popular tyre Vredestein has realized a fast-growing share of the market in virtually every country in Europe. Visitors to the SIMA international agricultural fair in Paris in the spring of this year got a first glimpse of the new Traxion85, which is available in 14 sizes:
ADAC, the German automotive association, has published its new winter tyre test results. Engineers tested tyres in sizes 175/65 R14T and 195/65 R15T – and Goodyear’s Ultra Grip 7 was declared the winner in both categories.
In the smaller size Bridgestone’s Blizzak LM 20 and Pirelli’s Snowcontrol followed Goodyear, as did Semperit’s Wintergrip. Bringing up the rear was Matador.
(Akron/Tire Review) Vredestein Banden has engaged UK software developer INCAT to help it reduce tooling costs, including a significant 50 per cent drop in the amount of time necessary to produce tyre moulds.
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