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Nokian Tyres: Financial targets aim for faster growth in Europe, North America

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.

Related news:

  1. Nokian Tyres: Strong Heavy Tyres performance maintains sales in 2019
  2. Nokian gives winter market overview
  3. Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018
  4. Commercial production starts at Nokian Tyres’ USA plant
14th November 2018 by
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Michelin increasing prices in North America

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.

Related news:

  1. North American launch for Agilis CrossClimate
  2. Michelin raising tyre prices in USA, Canada
  3. Ex-Michelin America Executive Dies
  4. MNA 2011 fact sheet shows sales, workforce growth
14th November 2018 by

Apollo Tyres: Onkar & Neeraj Kanwar take a pay cut

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.

Related news:

  1. Apollo Tyres lays foundation stone for 7th factory
  2. Apollo Tyres’ management takes coronavirus pay cut
  3. Apollo Tyres opens second Global R&D Centre
  4. Warburg Pincus investing £117 million in Apollo Tyres
14th November 2018 by

Bartosch steps down as CEO of BBS – new management team appointed

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.

Related news:

  1. BBS: Handbrake to be released in aftermarket business
  2. BBS appoints Markus Wartosch as global head of sales and marketing
  3. Spotlight on the Chinese Alloy Wheel Market
  4. Wheelmaker BBS insolvent
14th November 2018 by
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USA price increase for Pirelli car/light truck tyres

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.”

Related news:

  1. Pirelli USA raises tyre prices 5%
  2. Pirelli appoints Paolo Ferrari NAFTA region chairman, CEO
  3. Pirelli to sell truck tyres in the North America
  4. Pirelli recalls Maserati OE tyres in USA
13th November 2018 by

Capacity to double at Magna Tyres’ Netherlands plant – again

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.

Related news:

  1. Magna Tyres doubles OTR tyre capacity in Netherlands plant
  2. Magna supplying heavy-duty OTR tyres around the world
  3. Magna Tyres Group: ‘world’s fastest growing OTR tyre company’
  4. Magna Tyres drops Obo name
13th November 2018 by

First meeting: Michelin Dundee Action Group

Work to find a sustainable future for the Michelin Dundee plant is now underway – after Scotland’s Economy Secretary Derek Mackay convened the first meeting of the Michelin Dundee Action Group yesterday. Meeting in Dundee, Mackay tasked the group with exploring what can be done to retain the plant in Dundee and how it could be repurposed in the future towards manufacturing related activity.

Related news:

  1. Dundee closure ‘supports Michelin’s intent to accelerate cost savings’ – analyst report
  2. Michelin Dundee closure: Scotland’s Economy Secretary convening action group
  3. Michelin: Dundee closure to cost £180 million through to 2021
  4. Michelin Development relaunched to support job growth in Dundee area
13th November 2018 by
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Motor Ombudsman survey highlights gaps in winter tyre knowledge

At a time when many motorists look to make plans to drive abroad for the Christmas break and the start of the ski season, a YouGov survey commissioned by The Motor Ombudsman suggests that 87 per cent of car owners in Great Britain are unaware which countries across the Channel have laws pertaining to winter tyre use.

Related news:

  1. UK winter tyre sector is growing
  2. Falken says Euroall AS200 a ‘sensible’ UK alternative to ‘pricey’ winter tyres
  3. Survey: Canadians Steer Clear of Snow Tyres
  4. Price, access to charging, range the barriers to electric vehicle purchases – survey
13th November 2018 by
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Continental, Bandvulc fleet services merging

In the more than two years since Continental Tyre Group acquired Bandvulc, both the Conti360° Fleet Services network and the Bandvulc Plus+ fleet services continued to run in parallel, with customers receiving services from both brands. This will now change – Continental Tyre has announced the merger of Conti360° and Bandvulc Plus+. The two operations will unite as Conti360° Fleet Services, with Bandvulc’s key partners joining Continental’s current Conti360° Fleet Services.

Related news:

  1. Bandvulc to supply Continental, retread tyres, support to MC Rental
  2. Bandvulc Group wins John Lewis Partnership fleet management contract
  3. Conti360° Fleet Services integrated Ivybridge location
  4. Chichester Council extends Bandvulc supply/management contract
12th November 2018 by
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Construction begins on Ronal innovation centre

Work on a new Ronal innovation centre is now under way. Alloy wheel manufacturer the Ronal Group broke ground at the site of its future facility in Forst, Germany in late September, and on 12 October founded Ronal Technologie GmbH, the company that will take responsibility for the centre’s functions.

Related news:

  1. APP-Tech now a Ronal Group company
  2. Ronal presents one-piece 3D printed alloy wheel
  3. Ronal Group temporarily stops production
  4. Ronal bringing golden anniversary rim to Essen show
12th November 2018 by

Continental Q3 2018 results

German tyre and automotive systems manufacturer Continental AG has reported Q3 2018 sales of 10.8 billion euros, a result just a whisker higher than the company achieved a year earlier. Adjusted EBIT amounted to 771.8 million euros, 30.1 per cent lower than last year’s result. Adjusted EBIT of 771.8 million equates to an adjusted operating margin of 7.2 per cent; the margin was 10.3 per cent in Q3 2017.

Related news:

  1. Stronger euro hits Continental in Q1 2018
  2. Less optimistic: Continental revises 2019 outlook, announces preliminary Q2 results
  3. Continental discussing ‘need for action’ with employee representatives
  4. UK car makers back EU membership
12th November 2018 by
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Brembo unveils MotoE brake solution

The inaugural season of the FIM Enel MotoE World Cup – MotoE for short – next year will support the MotoGP championship at five European circuits. Each ten-lap race will be contested by 18 Electric-powered ‘Energica Ego Corsa’ motorcycles, with two of the 110kW (147hp) bikes fielded by each MotoGP team and four by Moto2 and Moto3 teams.

Related news:

  1. Brembo adopts new aftermarket packaging
  2. Brembo opens expanded North American factory
  3. Brembo launches online motorsport game for Euro Car Parts customers
  4. Brembo opens new carbon factory in Curno
12th November 2018 by
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Stapleton’s switching to a Michelin policy after successful trial

What brand of tyres does a tyre distributor use on its own fleet? In the case of Stapleton’s Tyre Services, the answer is Michelin. The company began trialling Michelin Agilis CrossClimate tyres across 25 Renault Master vans in March, and determined it could be clocking up an extra 20,000 miles per set compared to its existing policy.

Related news:

  1. East Midlands ambulances to wear Michelin year-round tyres
  2. Addison Lee’s CrossClimate+ switch results in yearly tyre saving
  3. Princebuild fleet to roll on Michelin CrossClimate
  4. Carlson Vehicle Transfer introduces Michelin Effitrailer across car transporter fleet
12th November 2018 by

Canada: Group Touchette acquires Atlas Tire Wholesale

Canadian tyre wholesaler Groupe Touchette Inc. has extended its market coverage in that country by acquiring Atlas Tire Wholesale Inc., a distributor with a strong presence in the Ontario region. According to Groupe Touchette, it does not intend to reorganise the businesses apart from “a few adjustments that may be necessary.” The plan is for the two companies to gradually integrate the Ontario market over the next year.

Related news:

  1. US wholesaler expands in Canada
  2. Hercules purchase “fits very well” into ATD growth plan
  3. Bain Capital acquires Fintyre
  4. Clearlake Capital acquires Wheel Pros
9th November 2018 by

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