JK Tyre rating and outlook upgraded on ‘increasing share of premium products’
CARE Ratings Limited (CARE) has upgraded JK Tyre and Industries Limited (JKTI)’s credit rating from CARE A+ to CARE AA- and reaffirmed its short-term ratings of CARE A1+. The outlook has also been revised from Positive to Stable.
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TyreSafe names 2024 award winners at annual briefing
TyreSafe has named the recipients of its 2024 award winners during its annual briefing on 13 June at the National Motorcycle Museum, Birmingham. The briefing included contributions from several sectors within the tyre industry, as well as the broad coalition of road safety stakeholders that has been built by the tyre safety body, emphasising TyreSafe’s mission to ally with other automotive sector organisations to promote vital tyre safety messages. The awards were sponsored by several large tyre manufacturers and distributors, Bridgestone, Continental, Pirelli, Yokohama, Micheldever/Protyre, as well as other members of TyreSafe, such as National Highways, Ring Automotive, and TJA Associates.
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Kerridge Commercial Systems acquires Rain Data
Kerridge Commercial Systems (KCS), which bought Compilator about a year ago, which itself bought Team Systems back in 2016, has completed the acquisition of Rain Data. According to the company, the acquisition marks a significant step forward in KCS’s commitment to delivering enhanced product information and data solutions.
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Michelin showing lunar wheel prototype at Le Mans 24 Hours 2024
Michelin is revealing the airless lunar wheel prototype it has produced to meet the tender brief NASAs Artemis programme at Le Mans 24 Hours 2024 . The objective of NASAs Artemis programme is to explore the Moons south pole, where no human has ever been, in order to acquire scientific data and search for water in the form of ice.
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Pirelli CTO, Pierangelo Misani, on the tyremaker’s ‘Eco Safety’ philosophy
Last year, Pirelli released the Pirelli P Zero E, which not only features top-level performance in terms of rolling resistance, wet grip and pass-by noise (a collection of outcomes that make the tyre a triple-A product in terms of label performance) but is also a flagship product in terms of sustainability. With sustainability increasingly a mark of premium quality, Tyres & Accessories interviewed Pirelli Chief Technology Officer (CTO), Pierangelo Misani, during the recent The Tire Cologne event in Germany Sustainability was writ large across Pirelli’s Tire Cologne exhibit, so it was no surprise to hear Pierangelo Misani describe sustainability as “the most important value we are looking for”, adding that “we dont want to be driven by the rules on sustainability, but to be ahead of the rules, to anticipate…sustainability matters.”
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Inter-Sprint meeting old & new customers at TTC
We caught up with the team at wholesaler Inter-Sprint on the final day of The Tire Cologne 2024. International brand manager Patrick Laros shared his experiences from the event as well as the latest additions to the Inter-Sprint team and product portfolio.
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Envoy Tyres launches at TTC alongside growing Davanti range
Davanti Tyres has gone from strength to strength since its debut nine years ago, and now Oak Group Holding is introducing a second proprietary brand. Envoy Tyres will give retailers an opportunity to offer their customers a new value segment product that will “deliver exceptional value and quality.” During last week’s The Tire Cologne show, Oak’s Gary Cross showed us the new Envoy range.
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Brand Finance: Michelin still top, but Giti now 9th and Chinese tyremakers fastest risers
The latest Brand Finance data shows that Michelin is “the world’s most valuable and strongest tyre brand” followed by Bridgestone in second and with Continental rounding off the podium. However, Far Eastern brand value is rocketing, with Giti the fastest-growing tyre brand in the ranking, following a 19 per cent brand value increase. Similarly, Sailun, Linglong Tire and Sentury Tire accelerates off the back of an overseas demand surge.
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Sailun approaching global top 10 tyre manufacturer ranking
On 30 May, Cheng Shin Rubber released its 2023 annual report. In terms of sales, the tyre manufacturer’s sales in 2023 were all lower than the previous year. Among all categories of tyres, the sales of motorcycle tyres increased by 0.34 per cent year-on-year, which was flat. However, the sales volume of PCR, TBR, bicycle tyres, inner tubes and other tyre products all declined to varying degrees. The decline in PCR and TBR products was 12.92 per cent and 26.08 per cent.
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Oak Group to launch Envoy Tyres ‘value’ tyre brand at The Tire Cologne with 4 initial tyres
Oak Group Holdings, the parent company of Davanti Tyres and wholesaler Oak Tyres, will launch a second proprietary tyre brand at The Tire Cologne next week. Envoy Tyres is styled as a “new, value tyre brand” with a mission to “deliver exceptional value and quality,” and will reach the market with a range of four initial products in the last quarter of 2024. All four products will be available to preview at Koelnmesse (Hall 6.1, Stand E-038; 4-6 June). Oak Group will follow a similar strategy to the successful 2015 launch of Davanti in various markets around the world, and will start to seek key national distribution partners at Europe’s premier tyre expo next week.
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Goodyear, Enovos inaugurate 4.4 MWp solar panel installation in Colmar-Berg
Goodyear has inaugurated a new large-scale solar panel installation at its Colmar-Berg proving ground. Completed in December 2023, the installation was inaugurated on 28 May in the presence of Lex Delles, Luxembourg Minister of the Economy, SME, Energy and Tourism. The solar project has a total surface area of 37,700sqm, with a capacity of 4.4 MWp. It is made up of 8,148 bifacial panels, capturing light both on the illuminated surface of the panel and on the lower surface thanks to diffuse light. It continues Goodyear’s collaboration with energy supplier Enovos.
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Goodyear Farm Tires to display new acquisition Carlstar at The Tire Cologne
Goodyear Farm Tires will welcome speciality tyre and wheel manufacturer Carlstar to Hall 6.1, Stand CO19 at The Tire in Cologne next week. Titan International, the parent company of Goodyear Farm Tires in North America and Europe after it bought the licence for both markets around a decade ago, recently completed its acquisition of Carlstar Group in a $296 million purchase. Carlstar representatives will present the brand’s product range to visitors to The Tire Cologne, while Goodyear Farm Tires will display its own flagship products, between 4 and 6 June.
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Prometeon branded tyres to make UK debut at Road Transport Expo 2024
Prometeon Tyre Group will hand a UK debut to its first Prometeon-branded premium tyres at this year’s Road Transport Expo (Hall 2A, Stand GR38 at NAEC Stoneleigh, Warwickshire; 4-6 June 2024). Ali Yilmaz, Prometeon managing director UK, Ireland and Nordics, comments: “RTX 2024 is the perfect platform for the UK debut of the first of our new Prometeon-branded premium tyres. We are proud of our heritage and the evolution to Prometeon-branded products is an historical moment for the Group.”
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Pirelli: Silk Road stake sale appealing, say analysts
Following that news that Pirelli shareholder Silk Road is selling a roughly 9 per cent stake in the company, financial analysts have described the investment opportunity as “appealing”
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Silk Road Fund sells 9% Pirelli shareholding
China’s Silk Road Fund has sold its entire stake in Pirelli through an accelerated placement procedure. According to a statement published by the Borsa Italiana stock exchange this morning, the economic development fund has divested some 90.2 million shares, which represents a 9.02 per cent shareholding in Pirelli. Demand for the shares far exceeded supply, and MTP/Camfin have reportedly purchased shares equal to 2.2 per cent of Pirelli’s capital.
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