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This week saw the launch of the new Protech Academy, a vocational programme set up by Micheldever Group retail outfit Protyre to qualify young automotive enthusiasts for a career in the industry and to offer current Protyre employees the chance to learn the skills needed to further their careers.
Hankook Tire has been named exclusive tyre supplier for two race series in the USA, the F4 United States Championship and the new F3 Americas Championship, and has announced its return as official sponsor for the 24H Circuit of the Americas (COTA) race in Texas.
US-based vintage and classic tyre manufacturer the Coker Group has new owners. Four years after the death of company founder Harold Coker, the Coker family has sold the business to Wade Kawasaki, the company’s president and chief executive officer, and the current Coker Group leadership team in partnership with private equity firm Irving Place Capital.
Production capacity for truck and bus radials at Bridgestone’s Warren County factory in Tennessee, USA will increase as part of a three-year, US$40 million investment to “meet market demand and address emerging customer needs.” Bridgestone Americas says it will break ground on expansion work at the 28-year old plant before the end of this year.
In 2019, the Ronal Group celebrates its 50th anniversary – and to mark the occasion, it is releasing an anniversary wheel. The Ronal R50 Aero will be presented, resplendent in racing gold-rim lip diamond cut, at the Essen Motor Show in December. The Ronal R50 Aero is a closed design with turbine-like spokes for cooling the brakes. The anniversary rim will be available in 7.5×16-inch and 8.0×18-inch sizes.
Christopher J. Eperjesy is joining Cooper Tire & Rubber Company as its chief financial officer and senior-vice president, effective 10 December. He will succeed Ginger Jones, whose intention to retire was announced earlier in the year.
With the signing of a three-year contract, Interpneu has taken on exclusive distribution of Yokohama truck/bus and OTR tyres in Germany. This arrangement takes effect in 2019 and is a further step in an established partnership between the Pneuhage Group wholesale business and Yokohama.
Sales and profits were higher year-on-year during the second quarter of Apollo Tyres’ 2018-29 financial year. The company reports a 23 per cent rise in sales, to Rs 41.92 billion (£447.8 million) in the three months to 30 September 2019. Operating profit rose 25 per cent during the quarter, to Rs 4.80 billion (£51.5 million), while net profit was, at Rs 1.46 billion (£15.6 million), four per cent higher than a year earlier.
Six months into a year-long trial, and Bibby’s of Ingleton has seen enough to know it wants to fit its entire 38-strong coach fleet with the latest generation Michelin X Coach Z tyres.
The Board of Directors at Nokian Tyres has set new financial targets for 2019-2021. These targets include faster than market growth of more than five per cent CAGR, EBIT at 22 per cent and a shareholders’ dividend of more than 50 per cent of net earnings. Nokian says the
financial targets will guide the company in reaching the strategic ambitions it set in early 2018, which include increasing sales by 50 per cent in Central Europe and doubling them in North America within the next five years.
Michelin North America has announced increases for US national account prices of up to eight per cent for all commercial brands, products and services. The new pricing takes effect 1 December 2018. Separately, prices for car, light truck and two-wheeler tyres sold under the Michelin, BFGoodrich and Uniroyal brands in the United States and Canada will increase by up to five per cent, effective 1 January 2019.
Following internal discussions and review of a commissioned report produced by Ernst & Young, the Nominations & Remuneration Committee (NRC) within the Board of Directors at Apollo Tyres Ltd. has recommended changes to the compensation packages Onkar and Neeraj Kanwar receive from the company.
Wheel manufacturer BBS says it is “strategically repositioning” itself, and has thus made a number of changes to its management team. Heinz Bartosch, chief executive officer since December 2016, was “released from his duties” as of 2 November 2018. He has been replaced with a new management team, a team that BBS says will “place a stronger focus” on expanding the BBS brand around the globe as well as on growing the company’s partnerships with OEM customers in the premium segment.
Prices for Pirelli car and light truck tyres sold in the US market will rise from 1 January 2019. Pirelli says the increase will be up to six per cent on average; it says it is implementing the new pricing in response to higher raw materials prices and “growing investment in the development of new technologically advanced products.”
It’s only a couple of months since we last reported a capacity increase at the Magna Tyres Group factory in Hardenberg, the Netherlands, however the company has now announced its intention to implement another OTR tyre expansion project. While the last expansion focused on increasing 26.5R25 and 29.5R25 capacity, this time round Magna Tyres will increase 17.5R25, 20.5R25 and 23.5R25 production – capacity for these is expected to reach 7,000 tyres in 2019. Magna Tyres Group comments that this growth is in keeping with its 2018 to 2023 business plan.
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