Kumho, Nexen fined for restricting tyre resale prices
The Korea Fair Trade Commission (KFTC) announced today that it has fined Kumho Tire and Nexen Tire for forcing South Korean retailers to sell tyres at or above specific set prices.
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Goodyear reports Q1 2019 net loss
Sales and income were down at Goodyear Tire & Rubber in the first quarter of this year. Revenue in the three months to 31 March 2019 declined six per cent to US$3.6 billion; Goodyear attributes this result to unfavourable exchange rates and lower volume in its international businesses. The company reported first quarter segment operating income of $190 million in 2019, down from $281 million a year ago.
Chinese truck tyres: EC says anti-dumping duties effective
The European Commission reports that applying anti-dumping duties to truck and bus tyres manufactured in China is having the desired effect. According to EC figures, dumped or subsidised imports were 81 per cent lower six months after the measures were imposed than during the investigation period.
Clif Armstrong to lead Marangoni North America
Marangoni Tread North America (M.T.N.A.) is preparing for a change of leadership. Bill Sweatman, the company’s president and chief executive officer, will retire on 1 May and be succeeded by Clif Armstrong.
Michelin inaugurates 3 million square foot distribution centre
A giant new warehouse complex built by Michelin in the USA is now operational and capable of supplying tyres to up to three thousand regional customers. The Michelin Woodruff U70 distribution centre is, at 3 million square feet, the Michelin Group’s largest distribution centre.
Further automotive acquisitions for GFG Alliance
Sanjeev Gupta’s GFG Alliance has further consolidated its presence in the automotive sector by acquiring two vehicle components suppliers in France. Through its Liberty industrial business, GFG has become the owner of Lyon-based Saint Jean Industries Poitou and Poitiers-based Fonderie du Poitou Fonte.
Belshina a European Games partner
Tyre maker Belshina has been named a national partner to the 2019 Minsk European Games, which will take place in the Belarus capital between 21 and 30 June. Its involvement in this capacity is being supported by the Belarusian State Concern for Oil and Chemistry (Belneftekhim Concern).
Stanley Travel trialling wheel security system
Stanley Travel is one of the first coach and bus companies in the UK to trial the Michelin Wheel Security and Tyre Pressure Management System, and it considers its fitment an added reassurance against the risk of wheel loss.
Trelleborg cutting Sri Lanka tyre plant CO2 by 90%
A full reengineering of steam generation equipment at the Trelleborg Wheel Systems plant in Sri Lanka will improve the facility’s environmental footprint as well as its production efficiency. Trelleborg is installing a new biomass boiler at the production site in Makola, near Colombo; it reports that work on this “major investment” has already begun, and the new process will be fully operational from June 2019.
Continental: Sales stable, EBIT lower in Q1 2019
Sales at Continental remained level in the first quarter of 2018, matching the 11.0 billion euros achieved a year earlier. Adjusted EBIT for the period amounted to 884 million euros, a 17.1 per cent year-on-year decrease. The adjusted EBIT margin was 8.1 percent (9.7 per cent in Q1 2018).
Pirelli: ‘Green Performance’ now half of all tyre sales
A decade ago, around 20 per cent of Pirelli tyres were made according to the company’s Green Performance strategy – with new production systems, reduced environmental impact and low energy consumption. The tyre maker reports this figure reached 49.8 per cent of sales last year, up from 43.5 per cent in 2017. Green Performance tyres accounted for 57.5 per cent of Pirelli’s High Value product sales.
Michelin sales up 9.3% in Q1 2019
Michelin Group reports a 9.3 per cent increase in sales (at constant exchange rates) to 5.8 billion euros in the first quarter of 2018, a result it says was achieved “in difficult markets.” The company also notes that these sales “reflect the major contribution” of its recent acquisitions, Camso and Fenner.
Goodyear names new SVP, general counsel
David E. Phillips, Goodyear Tire & Rubber’s associate general counsel, Americas, has been appointed the company’s senior vice-president and general counsel. He begins in this new role on 4 June.
Michelin launches Tracker all-terrain motorcycle tyre
Michelin has introduced a new all-terrain motorcycle tyre. It’s called the Tracker, and with the tyre Michelin is targeting riders who take part in amateur competition as well as those who ride for leisure on a broad spectrum of terrains. The tyre maker says the tread pattern, grip and resilience of the Michelin Tracker make it “perfectly suited to riding on sand, mud and dirt.” The Tracker is also approved for road use.
HiQ: 47% of centres achieve Gold Standard
Via its Standards Programme, HiQ Tyres and Autocare aims to drive a high level of attention to detail in every aspect of the fast fit and automotive business. In order to verify the standards achieved by its franchisees, the fast-fit network audits all centres and awards top performers accordingly. This year, HiQ has awarded Gold Standards Awards to 47 per cent of its franchise centres throughout the UK.
