![Doublestar wants Kumho Tire stake for KRW 800 billion](https://www.tyrepress.com/wp-content/uploads/2017/08/kumho-logo-162.jpg)
Doublestar wants Kumho Tire stake for KRW 800 billion
On Friday, we reported that Chinese tyre maker Qingdao Doublestar Tire was angling for a ten per cent discount on the 42.01 per cent stake in Kumho Tire it wishes to acquire. Not so, wrote The Korea Times over the weekend – according to its sources, Doublestar wants creditors to cut the price to KRW 800 billion (£544.6 million), a discount of 16.2 per cent on the original bid price.
Continue Reading![Pirelli investing in compound unit at German UHP tyre factory](https://www.tyrepress.com/wp-content/uploads/2017/08/pirelli-breuberg.jpg)
Pirelli investing in compound unit at German UHP tyre factory
The Pirelli plant in Breuberg, Germany is considered one of the company’s leading sites for the production of ultra-high performance tyres, and to cement the factory’s position a new investment is being made in equipment and facilities. Through this investment of an undisclosed sum, the tyre maker is setting up a new rubber compound processing facility in Breuberg.
Continue Reading![Doublestar surprises with demand for Kumho Tire discount](https://www.tyrepress.com/wp-content/uploads/2017/08/kumho-logo-10.jpg)
Doublestar surprises with demand for Kumho Tire discount
Just when it seemed the sale of a controlling stake in Kumho Tire to Qingdao Doublestar Tire was in the bag, the Chinese tyre maker has surprised everyone with its demand that Kumho Tire’s creditors reduce their KRW 955 billion (£650.3 million) bid price by ten per cent. Will this cause the deal to fall apart?
Continue ReadingIrish Road Hauliers, Midland Tyre Services jointly oppose truck tyre disposal plans
The Irish Road Hauliers Association (IRHA) and Midland Tyres Services Ltd (MTS) have jointly announced their opposition to the proposed inclusion of truck tyres into the pending Environmental Disposal Levy (EDL) scheme. IRHA and MTS said their opposition has the “strong and universal support” of their members and customers.
Continue Reading![Hankook Tire assigned first-time rating from Moody’s and S&P](https://www.tyrepress.com/wp-content/uploads/2017/08/csm_Hankook_Tire_Head_Office_db1126badb.jpg)
Hankook Tire assigned first-time rating from Moody’s and S&P
Hankook Tire has been assigned Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s (S&P). This is the first time that the tyre maker has been rated by Moody’s and by S&P, and it comments that this multi-national company level rating “reflects Hankook Tire’s strong position as a global premium tyre brand.”
Continue Reading![Hankook Tire assigned first-time rating from Moody’s and S&P](https://www.tyrepress.com/wp-content/uploads/2017/08/csm_Hankook_Tire_Head_Office_db1126badb.jpg)
Hankook Tire assigned first-time rating from Moody’s and S&P
Hankook Tire has been assigned Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s (S&P). This is the first time that the tyre maker has been rated by Moody’s and by S&P, and it comments that this multi-national company level rating “reflects Hankook Tire’s strong position as a global premium tyre brand.”
Continue Reading![Apollo Tyres aiming for 20/80 OEM-replacement mix in Europe](https://www.tyrepress.com/wp-content/uploads/2017/08/Kumar-Apollo-sml.jpg)
Apollo Tyres aiming for 20/80 OEM-replacement mix in Europe
Following the start of production at its Gyöngyöshalász plant in Hungary last quarter, Apollo Tyres is on its way to almost doubling European passenger car tyre production capacity over the coming year and a half. Speaking with analysts and investors last week after the release of Apollo’s FY2018 financial results, chief financial officer Gaurav Kumar confirmed that the facility in Hungary is expected to reach a daily capacity of 16,000 car tyres by the second half of FY2019 – in other words, sometime between September next year and the end of March 2019. This will give Apollo Tyres a total daily capacity of up to 35,000 passenger car tyres at its two European plants – and more than a third of output in Gyöngyöshalász may be earmarked for OEM customers.
Continue Reading![Microsite explores Yokohama Rubber’s centenary](https://www.tyrepress.com/wp-content/uploads/2017/08/Yokohama-50s-and-60s.jpg)
Microsite explores Yokohama Rubber’s centenary
There’ll be 100 candles on Yokohama Rubber Company’s cake come 13 October, and as part of its contribution to its parent’s birthday celebrations, Yokohama’s regional head office in Europe has launched a microsite that offers a historical overview of the Japanese firm.
Continue Reading![Early start to summer tyre season hold back Delticom’s sales in Q2 2017](https://www.tyrepress.com/wp-content/uploads/2017/08/delticom-h1-2017.jpg)
Early start to summer tyre season hold back Delticom’s sales in Q2 2017
Revenues at online tyre retailer Delticom amounted to 169.3 million euros in the three months to 30 June 2017, a 0.6 per cent increase on the revenues obtained in the second quarter of last year. This weak rise in sales follows a 19.9 per cent jump in revenues to 126.8 million euros in the first three months of the year; Delticom comments that sales were up in the first quarter year as the weather in March 2017 favoured an early start to the summer tyre season, pulling sales away from the second quarter. For the first half of the year, sales were up 8.0 per cent year-on-year to 297.1 million euros.
Continue ReadingNexen Tire: Sales up 4.2% in Q2 2017, material costs hit profit
On the back of higher volumes, Nexen Tire reports t its net sales in the second quarter of 2017 rose 4.2 per cent year-on-year to KRW 514.1 billion (£350.4 million). Operating profit was, however, impacted by the high costs of raw materials in the first half of this year and fell 37.4 per cent to KRW 43.6 billion (£29.7 million). The operating margin decreased by 4.0 percentage points year-on-year to 7.8 per cent.
Continue Reading![Cooper becomes the official tyre of Kahn Design](https://www.tyrepress.com/wp-content/uploads/2017/08/Kahn-Design-Cooper-sml.jpg)
Cooper becomes the official tyre of Kahn Design
Automotive fashion house Kahn Design has designated the Cooper brand its first ‘Official Tyre’. Cooper will be the tyre of choice for Kahn’s Range Rover and Jeep model offerings, with Kahn outfitting vehicles with the Cooper Discoverer STT Pro POR, Discoverer S/TMaxx POR and Discoverer A/T3 Sport. In addition, select vehicles from Kahn subsidiary Chelsea Truck Company will also be fitted with Cooper Discoverer A/T3 Sport tyres.
Continue Reading![Continental, Kordsa to make tyre production greener](https://www.tyrepress.com/wp-content/uploads/2017/08/tyre-reinforcement.jpg)
Continental, Kordsa to make tyre production greener
A collaboration between Continental’s Tire division and Kordsa, the Sabanci Group’s textile reinforcing materials business, is expected to result in a new, sustainable system of bonding textile reinforcing materials to rubber-based compounds. Specifically, the two companies are working on a technology that replaces resorcinol and formaldehyde with more environmentally friendly chemicals. Continental reports that to-date the joint work has delivered “very promising” results, adding that the technology will be available to others under a free licensing concept.
Continue ReadingBridgestone earns less in Q2 2017
In the second quarter of the current financial year, Bridgestone was able to increase its turnover, however its profit figures took a tumble. The tyre maker reports a six per cent rise in net sales to 891 billion yen (£6.3 billion) in the three months to 30 June 2017. Operating profit declined seven per cent to 99 billion yen (£695.7 million), with the operating margin contracting by 1.6 percentage points to 11.1 per cent. Net profit decreased by eight per cent, also to 99 billion yen.
Continue Reading![Liqui Moly expands UK and Ireland distribution](https://www.tyrepress.com/wp-content/uploads/2017/08/liqui-moly-range.jpg)
Liqui Moly expands UK and Ireland distribution
The motor oil and additive specialist Liqui Moly is expanding its distribution in the United Kingdom and Ireland. Beginning immediately its products will also be marketed by the Rapid Group. “With the Rapid Group we have found a strong partner,” said Ibrahim Memis, who is responsible for the Liqui Moly business in both countries. “This will make it even easier to find our oils and additives.”
Continue Reading![Servicesure garage 1st ever to retain Independent Garage of the Year title](https://www.tyrepress.com/wp-content/uploads/2017/08/andersen-clark-servicesure.jpg)
Servicesure garage 1st ever to retain Independent Garage of the Year title
Anderson Clark Motor Repairs, a Dingbro Ltd customer and member of the Servicesure Autocentre network, has won Motor Trader Independent Garage of the Year for the second year running. The award, which recognises best practice, innovation and professionalism in the non-franchised repair sector, was handed to the garage at the Grosvenor House Hotel, Park Lane, London.
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