![Stamford Tyres: Profit more than trebled in FY2017](https://www.tyrepress.com/wp-content/uploads/2017/08/stamford-map.jpg)
Stamford Tyres: Profit more than trebled in FY2017
Singapore-based tyre distributor Stamford Tyres Corporation Limited has reported a 213.6 percent year-on-year increase in net profit for the 2017 financial year, which ended on 30 April 2017; compared with 2015, net profit last year was up 376.5 per cent. This profit of S$8.1 million (£4.6 million) was accompanied by a gross margin of 26.2 per cent, up from 24.7 per cent in 2016 and 22.1 per cent in 2014. Total revenue for 2017 was $235.8 million (£133.1 million), 1.7 per cent lower than the previous year. Revenue derived from the distribution of tyres and wheels accounted for 87.2 per cent of total revenue while wheel manufacturing accounted for 12.8 per cent.
Continue ReadingYokohama Rubber: Sales and earnings up in H1 2017
Yokohama Rubber delivered its shareholders good news today upon reporting a 38.7 per cent year-on-year increase in profit attributable to owners of parent in the first half of 2017, with profit amounting to 11.4 billion yen (£79.8 million). Operating income during the six months to 30 June rose 16.8 per cent to 18.4 billion yen (£128.8 million), while net sales increased 15.9 per cent to 310.8 billion yen (£2.2 billion).
Continue ReadingSRI’s Buffalo factory to supply Japanese car makers with OE Dunlop tyres, phasing out Goodyear make to order
In response to recently reported news about plans for its factory in the USA, Sumitomo Rubber Industries (SRI) states that the plant in Buffalo, New York will deliver original equipment Dunlop tyres to Japanese car manufacturers in the future. A representative of SRI stressed to Tyrepress.com that it is the make to order tyre production commissioned by Goodyear that will reduce and then stop entirely in 2018.
Continue Reading![China’s civil aviation authority approves Sentury aircraft tyres](https://www.tyrepress.com/wp-content/uploads/2017/08/sentury.png)
China’s civil aviation authority approves Sentury aircraft tyres
Qingdao Sentury Tire reports that its aviation tyres have gained MDA (Modification Design Approval) certification by the Civil Aviation Administration of China (CAAC) following take-off and landing tests conducted using a Boeing 737 at Yantai Laishan Airport in Shandong Province late last year. This MDA certification, the first given to a privately-owned tyre manufacturer in China, approves Sentury aviation tyres for sale and use within the country.
Continue Reading![Autoparts renews IAAF Conference sponsorship](https://www.tyrepress.com/wp-content/uploads/2017/08/IAAF_Confrence_046.jpg)
Autoparts renews IAAF Conference sponsorship
Autoparts UK is once again sponsoring the Independent Automotive Aftermarket Federation (IAAF) 2017 Annual Conference for the fourth consecutive year.
Continue ReadingBridgestone investing $304 million to expand plants in India
A total of US$304.3 million has been earmarked for the expansion of two Bridgestone tyre factories in India. Over a period of five years, Bridgestone India Pvt. Ltd.’s Pune and Indore plants will be upgraded to accommodate the growth of India’s car parc. Production capacity at the two facilities is expected to rise by an estimated 15,000 tyres per day, giving a combined daily capacity of approximately 41,000 tyres by 2022.
Continue Reading![IDEA honour for Kumho’s ‘BON’ tyre concept](https://www.tyrepress.com/wp-content/uploads/2017/08/kumho-bon-sml.jpg)
IDEA honour for Kumho’s ‘BON’ tyre concept
As Kumho Tyre UK comments, winning international design awards has “become something of a habit” for the South Korean tyre manufacturer. For the second consecutive year, it is guaranteed a prize in the automotive and transport category of America’s International Design Excellence Awards (IDEA).
Continue ReadingTwo further ESG indices include Yokohama Rubber stock
Yokohama Rubber stock has been selected for inclusion in two additional indices that focus on the stocks of companies that demonstrate strong Environmental, Social, and Governance (ESG) practices. In addition to the FTSE Russell FTSE4Good Index, which it has been a component of for 13 consecutive years, Yokohama Rubber has been newly included in FTSE Russell’s FTSE Blossom Japan Index and MSCI Inc.’s MSCI Japan ESG Select Leaders Index.
Continue Reading![Cooper launches Discoverer Winter SUV tyre](https://www.tyrepress.com/wp-content/uploads/2017/08/Cooper-Discoverer-Winter-detail-LR.jpg)
Cooper launches Discoverer Winter SUV tyre
Cooper Tire & Rubber Company Europe has launched the new Discoverer Winter tyre for mid-to-full-size SUVs. Designed at Cooper’s European Technical Centre, the tyre is manufactured at Melksham in the UK and developed using Cooper’s 4x4 and off-road expertise. The company added that it has been tested extensively in a range of winter conditions, including snow acceleration and braking, snow handling, ice braking and acceleration at Arctic Falls in Sweden and Test World in Finland.
Continue Reading![Yokohama introduces first BluEarth branded winter tyre](https://www.tyrepress.com/wp-content/uploads/2017/08/Yokohama-W_Drive_905_snow_treadside.jpg)
Yokohama introduces first BluEarth branded winter tyre
Yokohama’s newest winter tyre, the BluEarth W*drive V905 has been designed to meet Europe’s increasingly stringent environmental regulations. The first Yokohama-brand winter tyre to use the advanced BluEarth fuel-efficient technologies, it also features a directional pattern with wide grooves and a new compound offering superior stability and performance on snow, ice and wet roads. Ideal for drivers of performance cars, medium sized cars and SUVs, the BluEarth W*drive V905 is available in sizes from 15”–22”.
Continue Reading![Davanti Tyres signs three-year partnership with Everton Football Club](https://www.tyrepress.com/wp-content/uploads/2017/08/Leighton-Baines-EFC.jpg)
Davanti Tyres signs three-year partnership with Everton Football Club
Davanti Tyres has signed a commercial partnership deal to make it Everton Football Clubs official tyre partner from 2017. The three-year commercial sponsorship deal was signed in August 2017 by Alan McTavish, Everton Football Club head of commercial partnerships, and Peter Cross, general manager of Davanti Tyres at Goodison Park. Davanti was launched in 2015, and carries more than 10 different tyre patterns, ranging from smaller passenger cars, heavy duty commercial taxis/van tyres, to high-performance SUV/4x4, and winter tyres. Signing a Premier League sponsorship deal, the brand targets the global audience offered by the competition.
Continue ReadingSRI: Tyre income down 36% in Q2 2017
For the second quarter of 2017, Sumitomo Rubber Industries has reported sales of 403,777 million yen (£2.8 billion), a 12.4 per cent year-on-year increase. Operating income during the three months to 30 June declined 27.1 per cent to 21,236 million yen (£147.0 million), while net income, at 12,429 million yen (£86.0 million), was down 31.0 per cent year-on-year.
Continue Reading![SRI to stop Dunlop production at US plant, focusing on Falken brand](https://www.tyrepress.com/wp-content/uploads/2017/08/dunlop-falken-logo.jpg)
SRI to stop Dunlop production at US plant, focusing on Falken brand
When the global joint venture between Goodyear Tire & Rubber and Sumitomo Rubber Industries (SRI) ended in 2015, the Goodyear tyre plant in Buffalo, New York became a SRI asset. Production of Dunlop branded tyres destined for fitment as original equipment on new vehicles nevertheless continued, however it seems SRI intends to discontinue this arrangement next year.
Continue ReadingKumho Tire profits drop 26% in Q2 2017
Decreased demand from major markets has caused led to lower net profit at Kumho Tire in the second quarter of the year. Yonhap News reports that in the three months to 30 June, the South Korean tyre maker achieved consolidated net profits of Krw 195 billion (£132.5 million), 26.4 per cent less than a year earlier. Operating profit fell 34.4 per cent year-on-year to Krw 204 billion (£138.6 million).
Continue ReadingCooper Tire & Rubber: Sales stable, net income down 37% in Q2 2017
While unit volumes and net sales at Cooper Tire & Rubber remained little unchanged compared with the second quarter of last year, rising raw material costs ensured that income was significantly down in the three months to 30 June 2017. And although raw material costs are rescinding from the peaks seen earlier in the year, the tyre maker is keeping an eye out for further fluctuations.
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