Mäkinen takes on Nordic market responsibility at Mitas
Former Nokian Heavy Tyres marketing manager Perttu Mäkinen has been appointed by Mitas as its country manager for the Nordic region. Mäkinen will operate from the Mitas a.s. headquarters in Tampere, Finland, and his responsibilities will include sales and marketing for Mitas and Continental agricultural and other off-road tyres in Finland, Sweden and Norway.
Continue ReadingMRF profits down in Q4, full year
Indian tyre maker MRF Ltd has reported a 58.3 per cent drop in net profits during the quarter ended 30 September; profits declined from Rs 3,954.4 (£45.1 million) million in the corresponding quarter of last year to Rs 1,647.6 million (£18.8 million). The company said the lower profit results were the product of raw material price fluctuations plus increasing power and fuel costs. The depreciation of the rupee also played a role, said MRF.
Continue ReadingToyo Tire U.S.A. appoints Bromfield COO
Roy Bromfield, former head of Q Tires, Inc., the US firm that developed and patented a winter tyre with retractable studs, has taken on the role of chief operating officer at Toyo Tire U.SA. In his new position, Bromfield will work in collaboration with US subsidiary president and CEO Tatsuo Mitsuhata to develop and oversee strategies for sales, product development, and all elements of the marketing mix. All departments, including Sales, Price Management, Marketing and Product Planning/Technical Services will report directly to Bromfield.
Continue ReadingLanxess appoints new Central Eastern Europe CEO
As of 1 January 2013, graduate chemical engineer Wolfgang Heuchel will become the new CEO of Lanxess Central Eastern Europe s.r.o. The 57-year old will succeed Flemming B. Bjørnslev in the Bratislava, Slovakia-based role. Bjørnslev has been appointed president and CEO of Lanxess Corporation in the United States.
Continue ReadingRepositioning taking place at the top of Pirelli
There is a governance battle going on at the upper echelons of Italian tyremaker Pirelli, according to various news sources. According to the Financial Times, Marco Tronchetti Provera, chairman and chief executive of Pirelli has invited two private equity groups to buy out competing shareholders in what is being described as “an effort to shorten the chain of command at the group.”
Continue ReadingNick Manning to leave Toyo
Toyo Tyre (UK) Limited has confirmed that Nick Manning has stepped down as managing director of the company with immediate effect. According to company representatives he will officially leave the company at the end of December 2012 in order to “pursue other interests.” There has been no indication of whether or not these other interest will be inside or outside the tyre industry.
Continue ReadingEurotire expands leadership in Mexico
OTR tyre firm Eurotire has appointed Courtland Acosta as its business development manager in Mexico and Central America. The move reflects the company's commitment to expansion throughout Mexico and Central America, answering the region’s growing interest in Eurotire’s offerings. In his new role, Acosta will assist regional manager, Tom Sawyer, to further develop the business there and to support the future opening of a new sales office.
Continue ReadingSC Motor Factors Ltd accelerates plans for growth
Premier south east distributor of car parts SC Motor Factors Ltd, has accepted a significant investment from HgCapital. The investment will enable the company to accelerate plans to expand its current network. The company has strong links with The Parts Alliance, whose members include two other recipients of investment in order to expand their operations since August, CES (UK) and Allparts Automotive.
Continue ReadingYTC Promotes Hamaya to COO
Tire Review reports that Takayuki Hamaya has been promoted to COO of Yokohama Tire Corp, effective 19 November. Hamaya will also retain his position as company executive vice president and CFO. In his additional role, Hamaya will be responsible for US tyre sales in all segments, accounting and finance, corporate planning, supply chain and operations, and internal audit.
Continue ReadingMichelin rewards long-standing Stoke employees
Michelin Tyre has held an awards ceremony at Crewe Hall, Cheshire celebrating its UK employees with 25 and 40 years of service. The event took place on Friday 16 November and was attended by staff and friends. There were 23 recipients of the Long Service Awards; 14 who have been with the Company for 25 years, and nine who have reached the 40 year milestone. The staff members are from various roles, ranging from factory workers and commercial teams through to group services.
Continue ReadingTructyre Fleet Management buys PK Commercial
Tructyre Fleet Management has nearly doubled its size following the strategic acquisition of one of its competitors, the PK Commercial group of companies. Based just off the M3 near Winnall in Winchester, Trucktyre Fleet Management manages and maintains tyres on large commercial fleets of trucks and vehicles for customers such as large supermarkets, hauliers and other transport companies, principally covering the south coast up to the M4 and London and Weymouth to Portsmouth.
Continue ReadingApollo's Cooper plan stalled by concerned shareholders
India’s Economic Times reports that Apollo Tyres has “put on hold its plans of going ahead with the acquisition” of Cooper Tire & Rubber Co. Tire Review writes that the newspaper, which first reported about the possible acquisition deal back in October, reported yesterday that “sources with direct knowledge” said the plan was put on ice because Apollo “did not get a favorable response to its qualified institutional placement (QIP) from the institutional investors who were worried about the end-use of the funds.”
Continue ReadingTata interested in Aston Martin – AM Online report
Writing on the website AM Online (Automotive Management), Jeremy Bennett reports that Indian manufacturer Tata is showing an interest in Aston Martin. The article quotes a Birmingham Post source that Tata is “one of several potential buyers for Gaydon-based Aston Martin, alongside the likes of Toyota and Mahindra & Mahindra.”
Continue ReadingDriveRight appoints Jeremy Wood as sales manager Europe
DriveRight has appointed Jeremy Wood as its new UK and European sales manager. Wood joined the DriveRight team in October, bringing with him a wealth of experience within IT, including extensive web coding and UI design knowledge. He has a background as a vehicle technician using tailored software systems within Formula 1.
Continue ReadingAnalysts ‘concerned’ about reduced Pirelli outlook
Financial analysts have stated their concern that tyre manufacturer Pirelli reduced its performance projections in several key areas when publishing its 9-month results recently. However, at the same time Morgan Stanley market watchers in particular reassured investors that the reductions were unlikely to results in any “material downgrades” but did warn that the stock could be impacted by the lowered premium volume guidance.
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