![Cooper Tire Europe launches new dealer portal](https://www.tyrepress.com/wp-content/uploads/2021/05/Dealer-Portal.png)
Cooper Tire Europe launches new dealer portal
Cooper Tire Europe has launched a dealer portal for its customers. The new website combines and enhances the tyre manufacturer’s existing digital tools, presenting dealers with a single point of contact for various customer-facing functions. From the portal dealers will be able to access brand assets, news and newsletters, and Cooper’s E-University for contactless product training on demand – all with a single login. Cooper said the portal marks “an important step” in its efforts to become “the most user-friendly customer and consumer facing tyre manufacturer to work with.”
Continue Reading![Apollo Tyres reports revenue, profitability growth for FY 2020/21](https://www.tyrepress.com/wp-content/uploads/2020/03/Apollo-Onkar-Kanwar.jpg)
Apollo Tyres reports revenue, profitability growth for FY 2020/21
Apollo Tyres has recorded strong growth in the fourth quarter of its 2020/21 financial year (April 2020 to March 2021). Consolidated revenues from global operations grew 39 per cent to close at 50.26 billion rupees (£486 million – all conversions based on rates on 14 May) in quarter four. For the full year of FY21, it grew 6 per cent to close at 173.97 billion rupees (£1.68 billion). Apollo reports that operating profit (EBITDA excluding other income) was up 70 per cent in Q4, while for the full year, it was up 44 per cent.
Continue Reading![Goodyear’s Cooper acquisition notes set to bear interest of 5%](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Goodyear’s Cooper acquisition notes set to bear interest of 5%
Following the news that it is raising money to fund the cash part of its takeover of Cooper Tire, The Goodyear Tire & Rubber Company announced that it has priced its private offering to eligible purchasers of $850 million aggregate principal amount of senior notes due 2029 and $600 million aggregate principal amount of senior notes due 2031.
Continue Reading![Yokohama buys Polish tyre distributor from Itochu](https://www.tyrepress.com/wp-content/uploads/2021/05/chart.png)
Yokohama buys Polish tyre distributor from Itochu
On 6 May 2021 Yokohama Europe GmbH, signed an agreement to acquire 100 per cent of Poland’s ITR CEE Spółka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tyres in central and eastern Europe. The acquisition is scheduled to be concluded on 14 May 2021, after which the Polish company’s name will be changed to Yokohama CEE Spółka z.o.o.
Continue Reading![Goodyear launches private offering to raise funds for Cooper Tire acquisition](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Goodyear launches private offering to raise funds for Cooper Tire acquisition
The Goodyear Tire & Rubber Company commenced a private offering of US$1.45 billion aggregate principal amount of 8- and 10-year senior notes on 13 May 2021.
Continue Reading![Pirelli reports sales and profits up nearly 20% in Q1](https://www.tyrepress.com/wp-content/uploads/2020/10/820_earth_globe-scaled-e1602237485165.jpg)
Pirelli reports sales and profits up nearly 20% in Q1
Pirelli has reported a marked increase in both sales revenues and pre-tax profits (EBIT), which were up 18.4 per cent and 19.6 per cent respectively. As a result of the increase, first-quarter 2021 revenues totalled 1,244.7 million euros. Meanwhile, the proportion of sales generated by so-called high value products now accounts for 72.6 per cent of total revenues, up 3 basis points compared with the first quarter of 2020.
Continue Reading![Prinx Chengshan resumes European testing](https://www.tyrepress.com/wp-content/uploads/2021/05/Prinx-Chengshan-Europe-sml.jpg)
Prinx Chengshan resumes European testing
After commencing tests of its tyres in Europe last year, Prinx Chengshan returns in 2021 to continue its testing programme. The Chinese tyre maker is utilising a number of sites, including Applus IDIADA in Spain and a facility in Ivalo, Finland, in order to test its winter, all-season and UHP summer tyres.
Continue Reading![Nokian Tyres starts testing at Spain Test Center](https://www.tyrepress.com/wp-content/uploads/2021/05/Nokian-Spain-sml.jpg)
Nokian Tyres starts testing at Spain Test Center
Tyre testing has commenced at the new Nokian Tyres Test Center in Santa Cruz de la Zarza, Spain. The tyre maker is utilising all ten tracks at the site, including the ‘crown jewel’, a seven-kilometre oval track circling the facility.
Continue Reading![Blue Ocean Awards: Michelin recognises mobility innovation](https://www.tyrepress.com/wp-content/uploads/2021/05/blue-ocean.jpg)
Blue Ocean Awards: Michelin recognises mobility innovation
The Blue Ocean Awards, inspired by the Blue Ocean Strategy – the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand – took place yesterday. Michelin is the event’s major sponsor as well as sponsor for an awards category. Michelin presented its International Mobility Award to Tarmac Technologies and SUN Mobility, two start-ups that are contributing to the development of mobility.
Continue Reading![Tomohiko Masuta appointed managing director of Falken, Sumitomo Rubber Europe](https://www.tyrepress.com/wp-content/uploads/2021/05/Tomohiko-Masuta-II_hires-jpeg-scaled.jpg)
Tomohiko Masuta appointed managing director of Falken, Sumitomo Rubber Europe
Tomohiko Masuta has been named as managing director of both Falken Tyre Europe GmbH and Sumitomo Rubber Europe GmbH. Masuta joined Sumitomo Rubber Industries in 1985, first gaining experience in the Product Development department. In the 1990s, he moved to the Original Equipment (OE) area of the business before being dispatched to support the development of the Dunlop brand in European countries. In 2015, he was appointed general manager of OE Tyre Business for SRI, with his most recent role being general manager of the Automotive System Division. In his new appointment, Masuta will oversee the SRI group companies in the EMEA region and Falken businesses in Europe and will drive the growth of OE customers within the region.
Continue Reading![Sinochem Holdings established through ChemChina, Sinochem restructuring](https://www.tyrepress.com/wp-content/uploads/2021/05/Sinochem-Ning.jpg)
Sinochem Holdings established through ChemChina, Sinochem restructuring
The restructuring of Sinochem Group Co., Ltd. and China National Chemical Corporation Ltd. (ChemChina) has resulted in the establishment of a new entity, Sinochem Holdings Corporation Ltd. (Sinochem Holdings). As of 8 May 2021, both Sinochem Group and ChemChina became wholly-owned subsidiaries of the new state-owned enterprise, which is said to be the world’s largest chemical conglomerate.
Continue Reading![Brembo reports 17.2% increase in Q1 revenues](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Brembo reports 17.2% increase in Q1 revenues
Leading brake manufacturer Brembo has reported a 17.2 per cent increase in first-quarter 2021 revenues to 675.1 million euros. According to the company, the figure is even higher (+20.9%) where foreign exchange effects are considered on a basis. During the same period pre-tax profits (EBITDA) amounted to 135.6 million euros, which equates to a margin of 20.1 per cent (EBITDA). Net profits for the first quarter stood at 61.4 million euros.
Continue Reading![Brembo buys J Juan for 70 million euros](https://www.tyrepress.com/wp-content/uploads/2021/05/Brembo_motorcycle-brakes_web.jpg)
Brembo buys J Juan for 70 million euros
At the end of April, Brembo agreed to buy 100 per cent of J.Juan Group, a Spanish company specialising in the development and production of motorbike braking systems, for 70 million euros. The acquisition is expected to close in the second half of 2021 following regulatory approvals.
Continue Reading![Continental at 150: Decades of off-highway activity](https://www.tyrepress.com/wp-content/uploads/2021/05/Continental-CST_Nylon-Cross-Ply-OTR-50s-sml.jpg)
Continental at 150: Decades of off-highway activity
With 150 years in the business, Continental may well just be the oldest firm in existence still making tyres today. The company has been offering solutions since the days when horsepower was indeed horsepower, but Continental’s off-highway tyres are a much more recent addition – it’s only a little under a century since the first products came to market. As its celebrates its sesquicentennial jubilee, Continental looks back over its activities in this sector from the very earliest days.
Continue Reading![Cooper will pay 197th consecutive dividend…probably](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Cooper will pay 197th consecutive dividend…probably
With the confirmation of its 197th consecutive quarterly dividend (announced on 6 May 2021), Cooper Tire & Rubber reiterated its position as one of the most consistent dividend-payers out there. However, this time the normally prosaic dividend payment announcement statement was spiced up by a single condition.
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