Triangle Tyre expresses pride in its comeback as a top-ten consumer tyre brand in the China Brand Power Index (C-BPI) 2020. The brand occupies ninth place, ahead of domestic rivals such as Warrior, Chaoyang, Giti and Linglong.
Michelin has announced the sale of its 40 per cent equity in Double Coin (Anhui) Warrior Tire Co. Ltd. Specifically, as the tyre maker reported today, Huayi Group (Hong Kong) Co., Ltd. will purchase 30 per cent of the equity in the business held by Compagnie Financière Michelin SCmA, and Double Coin Tire Group Co., Ltd. will purchase the remaining ten per cent of the equity, currently held by Michelin (China) Investment Co. Ltd.
At this month’s SEMA show in the US, the China Manufacturers Alliance (CMA) displayed the first Warrior brand passenger car tyres sold in North America, the R29 and R30. The Warrior range, the product of a joint-venture between Double Coin Holdings and Michelin Tire Group and manufactured by Double Coin Group (Anhui) Warrior Tyre Co., was re-introduced in the Chinese domestic market in May 2012 following a two year absence.
Britain may never have been the first name you thought of when jotting down a list of the world’s top taekwondo nations, but team GB Taekwondo’s performance at the London Olympics shows we pack a powerful kick. Kumho Tyres, as official partner of GB Taekwondo, has congratulated the team for Jade Jones’ gold and Lutalo Muhammad’s bronze at the recent games.
One year after their final break up, Double Coin Holdings and Groupe Michelin may be getting back together again for a project in China, reports Tire Review. The US publication says information originally published by SinoCast Daily Business indicates the two companies are in negotiations concerning Double Coin’s planned passenger car tyre plant in Hefei, China. Double Coin announced plans for the plant in December 2010. Michelin, according to SinoCast, denies details of one rumour that has it taking a 30 per cent share in the new plant, but has offered no other statement.
According to an announcement made by Shanghai United Assets and Equity Exchange’s, Michelin is the transferee of the 30 per cent of the shares held in Shanghai Michelin Warrior Tire Co. Ltd. (SMWT) at the price of RMB 170,180,000 (₤15.6 million). A statement released by Michelin notes that “all of the parties agree that the transaction is in their best interests and is beneficial to the sustainable growth of SMWT and Warrior Brand”.
Double Coin Holdings Ltd. announced on July 17 the intention to sell its 28.5 per cent shares in Shanghai Michelin Warrior Tire Co. Ltd (SMWT); the company says it believes this transaction is in the best interest of SMWT’s shareholders. The share sale will follow the applicable process and rules that apply under Chinese laws and regulations. At the same time a second shareholder, Shanghai Minhang United Development Co., Ltd, will also sell its 1.5 per cent share.
Prices for passenger car tyres sold under the Michelin, Warrior and BF Goodrich brand names in China will rise between 3 and 7 per cent, says Michelin (China) Investment Co., Ltd. These increases, which will take effect in June, have been attributed to the strong rise of raw material costs.
The 27th running of the London Marathon on April 13 saw approximately 46,500 participants cover the 26 miles 385 yards between Blackheath and St. James’s Park – including six wearing footwear offering good rolling resistance and a speed rating way in excess of anything actually attained on the day. The six men, Maasai warriors, chose to compete in shoes made from recycled car tyres and held together with iron nails.
China’s State Environmental Protection Administration (SEPA) has reproached one of Michelin’s factories, the Shanghai Michelin Warrior Tire Company, for failing to alter its activities after violating environmental regulations. In 2006 SEPA accused the tyremaker, who entered the Chinese market in 1998, of failing to follow relevant eco-friendly regulations in China, and now SEPA says Michelin has failed to reach the required manufacturing and waste standards.
Building on the success of the ContiRoad Attack, Continental has rolled out a new advertising and marketing campaign to promote its new “Uber Sport” radial the ContiSport Attack. The new Attack campaign uses a new approach for Conti, with three distinctive characters, the Warrior Conti Girl and two Road Guards.
Production at Michelin’s Shanghai joint venture has been suspended for the past month following a “drastic slowdown in sales in the Chinese car market,” reports the South China Morning Post.
According to an unnamed source at Shanghai Tyre and Rubber, which owns 30 per cent of Shanghai Michelin Warrior Tyre, the production is likely to be halted for another one to two months, because of “continuing hard times.” The venture has yet to record a profit since its establishment in 2001.
The AFX news agency has reported that Shanghai Tyre and Rubber Company has approved two separate investments totalling 263.55 million yuan (£17.2 million), to be put into a subsidiary and its current joint venture with Michelin.