2009 - Page 9 of 205 - Tyrepress

It’s Official – Pirelli to Buy & Build in Russia within JV

Pirelli’s intention to acquire an existing facility in Russia have been confirmed by official news of a joint venture agreement signed between the Italian tyre maker and state-owned firm Russian Technologies. According to the December 3 news, the terms of the agreement extend the collaboration to produce tyres and steelcord in Russia to not only include the construction of a plant in the Samara region in the second half of 2010. The 50/50 joint venture agreement will also cover, in Pirelli’s words, an already existing factory “which is currently being identified among some potentially interesting Russian enterprises”. The acquisition will most likely take place in 2010, Pirelli adds.

4th December 2009/by Tyrepress Editors

In From the Cold: Former Michelin Nordic MD Returns to UK

When Malcolm Scovell was appointed commercial director at Michelin Tyre Plc earlier this year, his appointment marked a significant change in the company’s management as it followed the almost simultaneous appointment of Bill Schafer as commercial director of Michelin’s UK truck and bus operations in July. Now Scovell’s predecessor (Hervé de Froment) has transferred to take on a new role with Michelin in sunny Spain, Scovell – himself the former managing director of Michelin Nordic – has taken the opportunity to move to warmer (if not drier) climes. In his first full interview since taking over at Campbell Road, Tyres & Accessories asked what he brings to the role and what the market can expect in the next 12 months.

According to Malcolm Scovell, premium brands have managed to maintain their overall market share despite the pressures of the down market. However, it is clear that some have faired better than others. As far as Michelin is concerned this year is said to have been pleasingly stable: “We are confident we have been able to maintain our position…[But] if we hadn’t have taken such a broad approach to the market – fleets, distribution, OE etc – we could have lost ground.”

4th December 2009/by Tyrepress Editors

Get Ready for More VAT Changes

VAT-registered businesses are being urged to get ready now for major changes to VAT return filing and payment coming next April. HM Revenue & Customs (HMRC) has sent a leaflet to all 1.9 million VAT-registered businesses to alert them to the fact that, from 1 April 2010, those with an annual turnover of £100,000 or more (excluding VAT) will have to file their VAT returns online and pay their VAT electronically. Under the changes, businesses registering for VAT on or after 1 April 2010 will also have to file their return online and pay electronically, whatever their turnover.

4th December 2009/by Tyrepress Editors

Marangoni, Pirelli Sign Truck Tyre Retreading Agreement

Marangoni and Pirelli Tyre have signed a collaboration agreement covering the retreading of heavy vehicle tyres. This new agreement reinforces the previous deal signed in 2003 for Europe, and recently extended to incorporate South America, a region where Pirelli holds undisputed truck tyre segment leadership and Marangoni has developed an important, qualified presence in the retread market.

4th December 2009/by Tyrepress Editors

Conti Opens New Romania R&D Centre

On December 3, a year and a week after its foundation stone was laid, Continental inaugurated a new office building for its Automotive Group R&D centre employees in the Romanian city of Iasi. The 9,000 square metre premises was erected at a cost of around 20 million euros, and will host the research and engineering brains behind all three of the Automotive Group’s divisions: Chassis & Safety, Powertrain, and Interior. Development activities at the new site will range from electronic brake systems and chassis components to hybrid electric drives and body and security as well as infotainment. In total, approximately 450 people are currently employed at the site.

4th December 2009/by Tyrepress Editors

Has Pirelli Lost Fifth Place in European TBR Market to Hankook?

Company News, News, UK News

Market share data released by Hankook shows that Michelin remains the undisputed leader in both the car and truck tyre segments. However, the previously exclusive stable of top five tyre manufacturers has gained a new member in 2009. Hankook’s decision to publish its projections of how the land lies, following one of the most tumultuous periods in the market’s history, may only have happened because it was a good year for the South Korean tyre manufacturer, however the fact remains the unusual combination of events experienced in the last 12 months means there are signs that the status quo has been disrupted. Looking forward the question is: will the company be able to sustain this position in the years to come?

Here’s Hankook’s calculation of how the European car tyre market will look at the end of 2009. Michelin remains market leader with a 20 per cent market share, followed by Goodyear Dunlop (18 per cent). Bridgestone are next on the list with a 12 per cent share of the market, followed by Pirelli with 8 per cent. And here’s where things get interesting. Hankook are in sixth place with a 7 per cent market share, snapping at the heels of fifth-placed Pirelli who are only one percentage point ahead with 8 per cent.

4th December 2009/by Tyrepress Editors

Pirelli Adds Signature to Copenhagen Communiqué

Pirelli Tyres and Parts reports its adherence to the Copenhagen Communiqué on Climate Change, an initiative promoted by the University of Cambridge supported organisation the Prince of Wales’s Corporate Leaders’ Group on Climate Change. This communiqué, issued by the business leaders of over 500 global companies, calls for “an ambitious, robust and equitable global deal on climate change that responds credibly to the scale and urgency of the crises facing the world today” and urges the world leaders meeting at December’s United Nations Climate Change Conference in Copenhagen to tackle environmental issues with the same level of resolve and coordination as witnessed in the London Summit’s response to the global downturn.

4th December 2009/by Tyrepress Editors

Yokohama Launches ENVigor ‘Grand Performance’ Tyre

Yokohama Tire is releasing a new all-season line-up in North America. Known as the AVID ENVigor, the tyre is described by Yokohama as a ‘Grand Performance’ tyre that is “quite possibly the most complete tyre ever created.” Upon its launch in March 2010 the new range will be available in 69 sizes for saloons, coupes and SUVs – making it one of the largest tyre launches in the company’s history. The ENVigor will replace Yokohama’s AVID H4s/V4s and W4 ranges.

4th December 2009/by Tyrepress Editors

Hankook Now ‘Number 6 in Europe’

Career Tracks, UK News

Hankook are now the sixth largest tyre manufacturer in Europe, according to company figures. Speaking during a tour of the South Korean-based tyre manufacturer’s Racalmas, Hungary tyre production plant in November, European PR manager, Felix Kinzer, announced that the company now calculates it is the seventh largest tyre maker in the world in terms of units sales; and not far from sixth. Tyres & Accessories' own data, which calculates the rankings based on the value of sales using the euro as the control currency, puts the company in eighth. Algebraical differences aside, the point is that Hankook is gaining ground on its competitors, something that is even clearer when you look at Hankook's take on the current European leaderboard. The company’s calculation puts Hankook in sixth place in the European passenger car tyre market with a 7 per cent market share, snapping at the heels of fifth-placed Pirelli with 8 per cent. Things are even better in the truck and bus tyre business, where the company’s market share has reportedly grown to nine per cent, putting the company in fifth place after Bridgestone (13 per cent), this time ahead of Pirelli (5 per cent). When you consider the rapid growth rates Hankook' sales are currently experiencing, the company's arguably ambitious calculations deserve further attention.

3rd December 2009/by Tyrepress Editors

Pirelli to Buy Russian Plant ‘Next Year’

Pirelli & C SpA and state-run Russian Technologies will reportedly buy an existing tyre plant in Russia “next year.” Speculation continues as to exactly which plant Pirelli is interested in. However, Pirelli group chairman Marco Tronchetti-Provera’s earlier remarks that the plant is “relatively new” suggest it is likely to be an ex-Amtel-Vredestein site, with Voroznezh and Kirov leading the running.

Quoting a joint statement published today (3 December 2009), the two companies confirmed that their joint venture will also build a new plant in the Samara region of Russia for production of tyres and metal cord. As has been previously been reported, the new 300 million euro ($453.4 million) plant is expected to have an annual capacity of 4 million units within five years and employ 1,500 people.

3rd December 2009/by Tyrepress Editors

Michelin NA to Join Sebring Hall of Fame

Michelin North America will become the first tyre maker and just the fourth company honoured with induction into the Florida based Sebring Hall of Fame. The distinction was announced on December 3 by the Sebring Sports Car Racing Hall of Fame board of directors, and acknowledges Michelin’s unprecedented 11 consecutive overall wins and 31 class wins at the 12 Hours of Sebring endurance race.

3rd December 2009/by Tyrepress Editors

Momentive Launches Silplus High Consistency Elastomer Platform

Automotive industry application is one of a number of uses Momentive Performance Materials states its new Silplus silicone elastomer is suited to. This global heat cured rubber (high consistency elastomer) platform is based on a uniform production process and raw material inputs, and will be produced primarily in Leverkusen, Germany, Shanghai, China and Ohta, Japan. The manufacturer states that all production sites will use a mix process, resulting in higher quality elastomers with good physical properties and a lower level of volatility.

3rd December 2009/by Tyrepress Editors

Truck Point Sales Triple 2005 Levels as Bridgestone Looks Forward to Next Decade

Bridgestone recently completed its 2009 series of Truck Point Roadshows, presenting to 240 people at five venues across the UK. The roadshows are a vehicle for Bridgestone to communicate with its network of servicing dealers and present the latest news regarding fleets, products and business growth. The main messages from these roadshows were the growth of the business, and how to improve further on the service to their fleet customers, through IT tools and tyre husbandry.

In the last four years Bridgestone’s UK truck tyre fleet business has evolved from an influential player into a market leader. This includes major fleet gains such as SITA waste, ARR Craib, TRL, Rotala and Shearings in 2009 alone. When you consider that fleet sales through from Bridgestone’s Truck Point network of independent dealers have tripled in the same period, it is clear that Truck Point has and will play a key part in the company’s future development. If the title of this year’s Truck Point roadshow (Into the Next Decade) is anything to go by, Bridgestone is banking on the continued and long-term prosperity of this key distribution channel. To this end Bridgestone also gave details of how the Bandag integration is progressing and news of a new product launch scheduled for 2010.

3rd December 2009/by Tyrepress Editors

Global Recession Costs UK Tyre Manufacturers and Distributors £299 million

The recession has cost the UK tyre manufacturers and distributors £299 million in lost profit during the last year, according to new research by Plimsoll Publishing. David Pattison, senior analyst and author of the Plimsoll Analysis – Tyre Manufacturers & Distributors, commented: “The recession has hit the sector hard with more than half of the companies analysed in our new report making less profit than they were a year before. The bill in lost profits stands at £299 million”.

When pressed for a reason for this collapse in the bottom line of companies throughout the market, Pattison suggested: “With demand so subdued and the resultant competition, many companies are unable to charge the price they need to make healthy profit margins. In the absence of pricing power many companies will have to make painful but necessary cutbacks in the next 12 month”.

3rd December 2009/by Tyrepress Editors

Analysts Recommend Korean Tyre Shares

Financial analysts are recommending buying shares in Korean tyremakers (particularly Hankook and Nexen), following their initiation of stock coverage at the end of November. Their view is that internal structural and strategic fundamentals and external conditions are now favouring Korean tyre makers: “The top three global tyre makers continue to lose market share, having lost 10 percentage points in the past 10 years. On the other hand, we expect the global market share of Korea’s three tyre makers to rise to 7.2 per cent by 2010 from 5.5 per cent in 2008 (by revenue),” Deutsche Bank wrote in an investors report dated 21 November.

3rd December 2009/by Tyrepress Editors

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