Apollo Tyres continues European turnaround
Apollo Tyres reported substantially improved key results at the start of its new financial year, which runs from 1 April 2021 to 31 March 2022. The Indian tyre maker, owner of the Vredestein brand since 2009, reported a 59.5 per cent increase in sales during the three months to 30 June.
Continue ReadingTyre business drives Continental’s profits
Continental AG presented figures for a strong first half of the year, and while its overall sales rose by 22 per cent to 20.2 billion euros, those of its Tire division increased 28.1 per cent. Furthermore, this division was the company’s profit-maker, delivering almost 63 per cent of its EBIT despite accounting for just 42 per cent of sales.
Continue ReadingHella partners Pro-Align on ADAS calibration, wheel alignment solution
Hella Ltd, the vehicle diagnostics expert and pioneer of advanced driver assistance system (ADAS) calibration for the independent aftermarket, has, through its Hella Gutmann Solutions brand, partnered with Pro-Align, the complete wheel servicing equipment specialist and UK and ROI distributor of Hunter Engineering Equipment, to provide the market with the ultimate solution for wheel alignment and ADAS camera and radar calibration.
Continue ReadingMitas raises prices across all segments
Mitas has announced price increases up to 5 per cent across all its tyre product segments. According to the company, this third price increase is driven by “escalating logistics and raw materials costs in all markets”. The latest price increase takes effect from September 2021 onwards.
Continue ReadingAlliance Automotive Group acquires J&S Automotive Distributors
Alliance Automotive Group UK (AAG), a subsidiary of Genuine Parts Company (GPC) and one of the UK’s leading aftermarket distributors, has acquired J&S Automotive Distributors (J&S). The acquired business, which includes its subsidiary Auto Components Northern Ireland, trades from three distribution centres in Dublin, Cork and Omagh with annual sales of approximately €35m.
Continue ReadingHankook’s sales and operating profit increase in Q2
Hankook Tire’s 2021 Q2 financial results show consolidated global sales of KRW 1.806 trillion (EUR 1,336 million) and an operating profit reaching KRW 187 billion (EUR 138 million). Sales and operating profit rose 32.4 per cent and 167.1 per cent YoY and 11.7 per cent and 0.6 per cent QoQ respectively. In particular, sales of both original equipment (OE) tyres and replacement (RE) tyres grew compared to the same period last year. In addition, global sales of 18 inches and higher tyres accounted for 38 per cent of total passenger car and light truck tyre sales, a YoY increase of 5.4 percentage points.
Continue ReadingAnti-diesel spill and siphon device innovator TISS rebrands as TankSafe
Diesel spills from HGVs are listed as a major cause of death and serious injury on the UK’s roads. In addition, they represent both an obvious environmental contamination issue and unnecessary wastage of a fleet’s most costly commodity. A company based in the UK, with offices on four continents, TISS has innovated a range of award-winning fuel security products to tackle this issue, called TankSafe. Approved by leading truck original equipment manufacturers, the product can be fitted on new-build trucks or purchased for fitment retrospectively from distributors in 60 countries. In recognition of the brand’s global reputation, TISS has opted to rebrand the company TankSafe. TISS CEO, Ryan Wholey, explained that the “global transport industry trusts and respects the TankSafe brand, so it makes sense to fully align our identity with that.” He added that the flagship TankSafe Optimum “is far more than an anti-siphon. It certainly stops all fuel theft but, crucially, makes roads safer and protects the environment due to its unique capability to prevent overfilling of fuel tanks and diesel spills.” To find out more about TankSafe and its products, click here.
Continue ReadingToyo Tires updates natural rubber procurement policy
Toyo Tire Corporation has re-examined and updated its natural rubber procurement policy and established this as an independent policy separate from the company’s CSR Procurement Guidelines that prescribe the proper procurement process for the Toyo Tire Group (the Group).
Continue ReadingHiQ2U mobile tyre fitting now available in the Midlands
Goodyear’s HiQ fast fit network has launched its HiQ2U mobile tyre fitting service across the Midlands. This service is now available across the Midlands from Coventry to Birmingham and includes the surrounding areas. Motorists can receive tyres and tyre fitting services at their doorstep between 7:00am and 7:00pm Monday to Friday and between 8:30am and 12:30pm on Saturdays.
Continue ReadingHankook Tire establishes ESG committee
Hankook Tire is introducing an ESG (Environment, Social, Governance) committee to strengthen its Board of Directors’ responsibility and activities in the area of sustainable management. The ESG committee will be responsible for consulting, deliberating, and recommending directions regarding environmental, social and governance businesses.
Continue ReadingNokian Tyres: ‘strong volume & profit growth’ in H1 2021
The difference a year can make. Almost 12 months to the day after reporting an operating loss of 13.7 million euros for the first half of 2020, Nokian Tyres has announced achieving an operating profit of 126.1 million in the six months to 30 June 2021 with an earnings per share of 0.72 euros. It achieved this result on the back of net sales that were up 37.7 per cent year-on-year to 758.0 million euros. Nokian Tyres notes that when looking at comparable currencies, net sales increased by 41.5 per cent.
Continue ReadingTrelleborg divesting Czech technical rubber business
Trelleborg Group has signed an agreement to divest a technical rubber products operation. It is selling the company, which has its main business located in Nachod, Czech Republic, to Kaprain, a Czech investment group.
Continue ReadingContinental to use recycled PET bottles in tyre production
We’re used to encountering yarn spun from recycled polyethylene terephthalate (PET) bottles in clothing and soft furnishings, but from next year motorists will be able to buy Continental tyres containing this material. Continental will use PET-sourced polyester yarns in the construction of tyre casings and says these can “completely replace” conventional polyester. It will present a concept tyre built upon a PET polyester casing at the IAA Mobility show in Munich this September.
Continue ReadingBridgestone boosts fleet portfolio with Azuga acquisition
Bridgestone Americas (Bridgestone) has reached an agreement with tech-focused private equity firm Sumeru Equity Partners, connected vehicle specialist Danlaw and other shareholders to purchase Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform for US$391 million. Bridgestone says the acquisition will accelerate its efforts to develop and deploy sustainable mobility solutions as a “central pillar of the company’s advanced mobility strategy.”
Continue ReadingPrometeon expands warehouse, adds to Pirelli IF agri range
Prometeon Tyre Group shares that it recently extended storage capacity at its central warehouse in Germany to accommodate additional stocks of agricultural tyres. The tyre maker says it expanded warehouse operations in order to speed up delivery times throughout the region as well as to offer better its trading partners a higher level of service, however, it that this extra capacity at the Dieburg site, which has been available since 1 July, coincides with growth in its Pirelli IF agricultural tyre range.
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