Continental downwardly revises 2018 guidance
Continental has updated its guidance for the 2018 fiscal year to reflect lower sales expectations, cost increases and warranty claims. The tyre maker and automotive parts and systems company now anticipates sales (including all expected negative exchange-rate effects) of approximately 45 billion euros rather than the previously forecast 46 billion euros. Expectations for adjusted EBIT margin have been revised from more than ten per cent to more than nine per cent.
Continue Reading![Continental initiates voluntary recall for certain ContiPremiumContact 5 tyres](https://www.tyrepress.com/wp-content/uploads/2018/08/contipremiumcontact5.jpg)
Continental initiates voluntary recall for certain ContiPremiumContact 5 tyres
Continental has announced a voluntary exchange programme for 1,650 size 215/60R16 99H XL ContiPremiumContact 5 tyres. It is unclear whether UK consumers are affected by this voluntary recall – Continental says the tyre was shipped to various markets and names Germany, Austria, Finland, the Netherlands, Romania, Australia and New Zealand as countries where these tyres were sold, however other markets may have also received them.
Continue Reading![Maxxis aiming for 15% of India’s two-wheel tyre market, planning additional factories](https://www.tyrepress.com/wp-content/uploads/2018/08/maxxis-hsmi-sml.jpg)
Maxxis aiming for 15% of India’s two-wheel tyre market, planning additional factories
The Maxxis Group’s first tyre factory in India opened in March. The facility in Gujarat state was set up with an investment of US$400 million and began operating with an initial daily capacity of 20,000 tyres and 40,000 tubes. Maxxis Rubber India shares that original equipment tyres have now begun to be shipped from the 43-hectare Sanand plant to Honda Motorcycle & Scooter India (HMSI), and it plans to supply one million tyres to its OEM partners by the end of the year. Furthermore, the tyre maker intends to complement its recently-opened plant with five additional factories in India that will produce tyres for other segments.
Continue Reading![R H Claydon named mainland UK distributor for Kumho truck tyres](https://www.tyrepress.com/wp-content/uploads/2018/08/R-H-CLAYDON-APPOINTMENT-sml.jpg)
R H Claydon named mainland UK distributor for Kumho truck tyres
Building upon a successful working relationship that began two decades ago, Kumho Tire has appointed R H Claydon to handle its truck tyre distribution requirements for the whole of the UK mainland.
Continue Reading![Mahle to acquire Behr Hella JV shares](https://www.tyrepress.com/wp-content/uploads/2018/08/Mahle-Distribution-Centre.jpg)
Mahle to acquire Behr Hella JV shares
The Mahle Group plans to acquire all the shares in Behr Hella Service GmbH, its current joint venture with Hella, and to distribute Behr Hella Service products via its own aftermarket organization. This step will further strengthen Mahle’s position in thermal management. Following a transitional period, Mahle intends to manage the spare parts business for thermal management products on its own, starting on 1 January 2020.
Continue Reading![Michelin announces theme for 2019 Michelin Challenge Design](https://www.tyrepress.com/wp-content/uploads/2018/08/michelin_challenge_design.jpg)
Michelin announces theme for 2019 Michelin Challenge Design
Michelin North America has issued the theme for its 2019 Michelin Challenge Design competition, ‘Inspiring Mobility,’ which examines questions of why joy, trust, security or freedom are important factors in designing mobility solutions for megacities of the future.
Continue Reading![Linglong Tire greenlights Serbia factory project](https://www.tyrepress.com/wp-content/uploads/2018/08/Linglong-Serbia.jpg)
Linglong Tire greenlights Serbia factory project
Under Linglong Tire’s ‘5+3’ strategy, the company aims to establish three tyre factories around the world in addition to five facilities in China. The tyre maker’s first international plant was inaugurated in Thailand in 2014, and yesterday Linglong Tire announced its Board of Directors’ approval of plans to build a second in Serbia. Construction of a new facility 30 miles north of Belgrade is expected to commence in the first half of next year and ultimately give Linglong Tire an annual capacity of 13.62 million tyres in Europe. The project involves an investment of US$994.39 million.
Continue Reading![Yongtai Group enters administration](https://www.tyrepress.com/wp-content/uploads/2015/10/Citexpo-Yongtai_stand.jpg)
Yongtai Group enters administration
The Chinese Yongtai Group, which once ranked as the 32nd largest tyre manufacturer in the world and which used to produce World Rally Championship tyres for DMack as well as the well-known Durun budget brand, is bankrupt. Shandong Yongtai Group Co., Ltd. officially entered administration on 16 July 2018. On 4 August 2018 Shandong Dongying Intermediate Peoples Court published documents showing that Guangrao County-based Caijin Asset Management Co., Ltd.’s application for Yongtai to enter administration had been accepted. The Beijing-based Dacheng (Jinan) law firm was appointed as the administrator of Yongtai Group.
Continue Reading![Tom Lovesy appointed general manager at Supertracker](https://www.tyrepress.com/wp-content/uploads/2018/08/web-Tom-Trevor.jpg)
Tom Lovesy appointed general manager at Supertracker
Supertracker has appointed Tom Lovesy as its general manager. The son of managing director, Trevor Lovesy, and grandson of original founder Keith Lovesy, Tom’s appointment shows the continuity of the wheel alignment specialist’s ownership. The company is preparing to enter its third generation of family management as one of the leading wheel alignment specialists in the UK market.
Continue ReadingMaxion Wheels to exhibit at Reifen 2018
Maxion Wheels, the world’s largest wheel producer, has announced its participation in next month’s Reifen show. The company can be found in Hall 12.1, at Stand D24 during the exhibition, which will be held alongside Automechanika Frankfurt between 11 and 15 September.
Continue ReadingLower earnings for Pakistan’s Gentipak in 2017-18
General Tyre and Rubber Company of Pakistan Limited reports net sales for the financial year ending 30 June 2018 increased 22.2 per cent year-on-year to PKR 11,785.5 million (£78.7 million). Profit from operations amounted to PKR 1,190.1 million (£7.9 million), down 8.7 per cent on the previous year’s result. Total comprehensive income for the year was PKR 671.4 million (£4.5 million), 20.7 per cent lower than in the 2016-17 financial year. Earnings per share amounted to PKR 11.97 (2016-17: PKR 14.75).
Continue Reading![Nexen Tire continues ‘successful’ Manchester City FC sponsorship](https://www.tyrepress.com/wp-content/uploads/2018/08/nexen-manchester-city.jpg)
Nexen Tire continues ‘successful’ Manchester City FC sponsorship
Upon kicking off its sponsorship of Manchester City FC for 2018/19, Nexen Tire states that it plans to continue utilising its relationship with last season’s Premier League champion throughout the game season to “expand its global loyal fan-base by increasing touchpoints for customers to directly engage and experience the Nexen Tire brand.” As was the case in 2017/18, Nexen will continue as official sleeve partner.
Continue Reading![Test World opening indoor wet and dry asphalt test tracks](https://www.tyrepress.com/wp-content/uploads/2018/08/test-world-millbrook.jpg)
Test World opening indoor wet and dry asphalt test tracks
Next month, Test World will open its new temperature-controlled wet and dry asphalt indoor tracks at its facility near Ivalo, Finland. These new tracks complement the new and extended snow and ice indoor tracks that opened in April.
Continue Reading![Liqui Moly to sponsor 2019 World Handball Championship](https://www.tyrepress.com/wp-content/uploads/2018/08/2016_EHF_EURO_Poland.jpg)
Liqui Moly to sponsor 2019 World Handball Championship
The German oil and additive specialist Liqui Moly is continuing to expand its sport sponsorship: the company is now also the official sponsor of the World Handball Championship, which is will take place in Denmark and Germany in January. This world championship is one of our global lead sponsorships, says Peter Baumann, marketing director at Liqui Moly.
Continue Reading![Electronic trading part of Optimal UK’s evolution](https://www.tyrepress.com/wp-content/uploads/2018/08/Optimal-UK.jpg)
Electronic trading part of Optimal UK’s evolution
Optimal UK has implemented electronic trading with customers into its business as part of its plans to grow substantially in the automotive aftermarket in the next few years. As a PACT-enabled supplier – the joint electronic trading initiative between eparts & TecAlliance – Optimal UK is currently communicating with distributors electronically, allowing them to make enquiries and place orders.
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