Let’s go round again – what’s next for ATD?
On 22 October 2024, American Tire Distributors, Inc. (ATD) filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the District of Delaware. It was the second time in around six years that the large – if not the largest – US tyre distributor made such a petition. And ATD did so leaving more than half-a-billion dollars outstanding with some of the world’s largest tyre manufacturers as well as some of some of the fastest-growing tyremakers (see Tyrepress.com and page 27 of the November edition of Tyres & Accessories magazine for further details relating to both the Chapter 11 announcement and how much money is outstanding with which tyremakers). This article is an example of the editorial comment that introduces every edition of Tyres & Accessories magazine. Not a subscriber? No problem, click here to become one.
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Nokian’s new Romania plant to be a milestone for the entire tyre industry
Less than two years after announcing the project, Nokian officially opened its new tyre plant in Oradea on 19 September 2024. The Finnish tyre manufacturer sees the whole thing as a milestone. But not just for itself. First and foremost, it wants to use the new building to increase the production capacity it has lacked since it closed its production site in Russia. Apart from that, however, the plant is also a milestone for the tyre industry as a whole, as it is the industrys ‘first carbon dioxide-free factory’ and demonstrates the potential for sustainable tyre production. The motto of the opening ceremony was therefore ‘Lead to Zero’, which probably means that Nokian sees itself in a pioneering role in this respect.
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Pendragon Vehicle Management, Targa Telematics partner on fleet solutions
Targa Telematics and Pendragon Vehicle Management (PVM) have announced a partnership to offer advanced and comprehensive solutions to fleet customers. The partnership links Targa’s global expertise in developing solutions and digital platforms for connected mobility and one of the UK’s top 15 leasing companies and part of one of the UK’s leading motor groups, Lithia UK. Targa Telematics will provide cutting-edge technology to PVM, enabling them to offer advanced and comprehensive solutions to their fleet customers. PVM will be able to deliver a full suite of fleet management services, leveraging the expertise of one of the largest players in the industry.
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Zeppelin Systems opens new premises in Reggio Emilia, Italy
Full-service provider of turnkey systems, plant manufacturer Zeppelin Systems has opened a new, modern 5,000sqm premises at the competence centre in Reggio Emilia. Together with Nuova Ciba, which was acquired in 2018, Zeppelin Systems has been active in the Italian market for many years. In addition to expanding its production capacities, the company is also pooling its expertise for the tyre and rubber industry, the plastic and polyolefin industry and the food sector with its heterogeneous, modern site.
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Delphi Academy unveils expanded ‘OEM-level’ training centre
Delphi Academy has officially opened its doors following a major expansion project, setting a new standard in aftermarket training. With a £500,000 investment, the Academy now spans 1,430 square meters, making it one of Europe’s largest automotive training centres. Delphi’s training facility in Warwick has doubled in size by extending into a neighbouring unit, with the new wing dedicated specifically to training in hybrid, electric vehicle (EV), and hydrogen technologies.
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BKT to display 4 new agricultural tyres at EIMA 2024
Indian agricultural tyre specialist BKT will exhibit at EIMA, a leading international exhibition for agricultural machinery in Bologna, Italy from 6-10 November, 2024. The Indian multinational said its display would include events, experiences, and product launches for the agro-mechanical industry. BKT has a large exhibition area of more than 600sqm at stand B1 in hall 36.
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Yanggu Huatai prepares to make cross-industry acquisitions
Shandong rubber additive manufacturer Yanggu Huatai has decided to acquire Bomi Technology, a company engaged in developing polyimide materials. Specifically, Yanggu Huatai plans to purchase the company’s control of Bomi Technology by issuing shares and raising supporting funds. At present, Yanggu Huatai has not yet given a specific acquisition plan.
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Sailun plans to build an industrial park in Cambodia
On 30 October, Sailun announced it is building an industrial park in Cambodia called “Cambodia Kampot Special Economic Zone Project” (Kampot SEZ). Furthermore, Sailun said that it is preparing to set up a wholly-owned subsidiary, Kampot Bay Investment Co., Ltd., in Cambodia, which will be responsible for implementing the Kampot SEZ. The project’s total investment is about US$110 million, which will be covered by Sailun’s self-raised funds.
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Sailun adjusts Mexican factory plans
At the same time as announcing its plans for as Cambodian industrial park project, Sailun also noted that details associated with its Mexican factory have changed. The tyre manufacturer has negotiated with the Mexican project’s partner, TD (Tire Direct International Holding, S.A.P.I. DE C.V.), to adjust the registered capital and investment ratio of the Mexican implementation entity STT (SL & TD Tire Manufacturing, S.A.P.I. DE C.V.).
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ATD chapter 11 leaves tyremakers with >$589 million outstanding
When American Tire Distributors, Inc. (ATD) filed Chapter 11 on 22 October 2024, the large US tyre distributor did so for the second time in roughly six years. And it did so leaving tyremakers with north of US$589 million outstanding. If North America’s largest tyre brands weren’t nervous at this point, more than half of that will be connected to the balance sheet of just three tyremakers.
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European replacement tyres drive Nexen’s Q3 sales of KRW 708.5 billion
Nexen Tire has reported third-quarter 2024 sales of KRW 708.5 billion (£396.595 million; 474.829 million euros; US$514.418 million), up 2.3 per cent on last year. And KRW 52.3 billion in operating profit. Revenue growth in the third quarter was reportedly driven by higher sales in the European market, which grew by 11.9 per cent year-on-year. More specifically, Nexen reported strong winter tyre sales in Europe during the peak seasons of 2Q24 and 3Q24. Despite a slowdown in European original equipment (OE) market, tyre supply there is said to have remained stable “thanks to the company’s expanded supply to premium brands and increased brand recognition through marketing efforts such as the Manchester City partnership.”
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Remember This? – October 2024
Our monthly magazine column looks back at the biggest news events from the tyre industry five, 10, 15 and 20 years ago. This months edition looks back to October issues from 2004, 2009, 2014, and 2019 for some of the biggest tyre industry news of those months. Click the month and year to access the digital edition of the relevant issue of the magazine from Tyres & Accessories’ expanding digital archive. October 2019: One of the UK’s leading tyre wholesalers, Kings Road Tyres, entered administration. The company was incorporated in 1959.
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Tyre News in Numbers October 2024
Tyres & Accessories’ monthly News in Numbers column identifies the most important statistics of the month, giving you a quick snapshot of some major industry stories. Below, we look at the numbers, big and small, that made the news in the October 2024 magazine. Click the embedded links to read more on each article.
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Schaeffler scoops prestigious Irish award
Schaeffler Automotive Aftermarket received possibly its final award under its current name when it was presented with the CV Parts Manufacturer of the Year trophy during a successful Auto Trade Expo weekend for the company, which rebrands as Schaeffler Vehicle Lifetime Solutions UK Ltd on 1 November.
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Tyres & Accessories Magazine October 2024 issue available to read or download
The wholesale sector and industrial tyres feature in the October 2024 issue of Tyres & Accessories, which is now available as an e-paper for Tyrepress subscribers. The issue also features the latest news from the international tyre business, including the opening of Nokian Tyres Romanian factory, new commercial vehicle tyre ranges from Michelin and Goodyear, and a report from the UKs Tyre Recovery Association annual forum day. Non-subscribers can gain access to Tyrepress with a print or online subscription. Tyre professionals can take advantage of the current Tyrepress Membership offer, helping to drive business online and stay informed with the industry’s leading magazine and websites.
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