![Yokohama Rubber unveils centennial logomark](https://www.tyrepress.com/wp-content/uploads/2017/01/yoko-logomark-sml.jpg)
Yokohama Rubber unveils centennial logomark
In less than 11 months, Yokohama Rubber will achieve the venerable age of 100. The Japanese tyre, wheel and rubber products manufacturer, which began life on 13 October 1917, has unveiled a new logomark for its centenary year. Yokohama Rubber says the logomark’s design “expresses the company’s pride in its 100-year history as well as its appreciation of its many customers, business partners, and other stakeholders around the world who have helped make this 100th anniversary possible.”
Continue ReadingAutomotive industry responds to PM’s Brexit speech
Not long after Theresa May gave her headline Brexit speech, various automotive industry representatives spoke out about their perspective on the ongoing issue:
Continue Reading![Micheldever management comment on Sumitomo sale](https://www.tyrepress.com/wp-content/uploads/2017/01/micheldever-wholesale-and-distribution.jpg)
Micheldever management comment on Sumitomo sale
On 5 January, Micheldever announced that it was being purchased by Sumitomo Rubber Industries of Japan (the company behind Falken, one of Micheldever’s key exclusive brands). While it was no surprise that the business had been sold, the idea that Sumitomo would be the successful bidder was not widely foreseen. With Micheldever having grown into a leading position in the UK wholesale sector with a multi-brand, independent retailer-focused strategy, the acquisition raises many questions for the business’s staff, suppliers and customers. With this in mind, a week after Sumitomo’s purchase Tyres & Accessories met with Micheldever managing director, Duncan Wilkes; wholesale director, Alan Baldwin; and wholesale marketing manager Rory Carlin to find out more about the background to the deal.
Continue Reading![UK to leave European single market](https://www.tyrepress.com/wp-content/uploads/2017/01/PMTM.jpg)
UK to leave European single market
Prime Minister Theresa May has indicated that Britain is headed for what might be called a hard Brexit in her most direct speech on the subject since the EU referendum on 23 June 2016. She also announced that Parliament would vote on the final Brexit agreement between the UK and the EU.
Continue Reading![Football: Kumho Tire’s Schalke 04 sponsorship extended](https://www.tyrepress.com/wp-content/uploads/2017/01/kumho-schalke.jpg)
Football: Kumho Tire’s Schalke 04 sponsorship extended
Kumho Tire’s sponsorship of German football club FC Schalke 04 has been extended until 30 June 2018. The tyre maker and Bundesliga protagonist first announced their collaboration at the beginning of 2015, and since then Kumho has been represented on LED signage at the club’s home stadium, Veltins Arena, and utilised other advertising options both in the stadium and in team-related publications. These advertising opportunities continue under the extended deal.
Continue Reading![Nexen Tire begins Japan joint venture](https://www.tyrepress.com/wp-content/uploads/2017/01/nexen-japan.jpg)
Nexen Tire begins Japan joint venture
Travis (Ho-chan) Kang, chief executive officer of Nexen Tire, has taken part in the official inauguration of a new joint venture company set up to sell the Nexen and Roadstone tyre brands in Japan. The joint venture is called Nexen Tire Japan Inc. and is 51 per cent owned by Nexen Tire, with Toyota Tsusho Corporation, the Toyota Group’s trading arm, holding the remaining 49 per cent share.
Continue Reading![Sources: Doublestar preferred Kumho Tire bidder](https://www.tyrepress.com/wp-content/uploads/2017/01/Doublestar-Tire_tb.jpg)
Sources: Doublestar preferred Kumho Tire bidder
Using information received from industry sources, the Yonhap News Agency reported today that Kumho Tire’s creditors are expected to select Doublestar Tyre as the preferred bidder for the 42.01 per cent share in the Korean tyre maker. Yonhap wrote that Doublestar “received the highest score in the evaluation of price offer and other terms” in the round of bidding that closed last week. Doublestar is said to have submitted a bid of around Krw 1 trillion (£692.9 million).
Continue ReadingConsumer trends influence the automotive sector
Recent research suggests ever-rising expectations, social influence, and retailers striving to engage consumers with attractive offers, continue to sway customers. Such influence has not escaped the motor industry and recent years have seen major changes in the way consumers purchase a vehicle.
Continue ReadingSTARCO investing in plants in UK, Croatia
Around €150,000 (£131,000) is being invested in STARCO’s tyre and wheel production facility in Crewe as part of a €2.5 million project to strengthen manufacturing capabilities in Europe. The Danish company’s site in the UK will receive new equipment that will automate the polymer wheel and puncture-proof polyurethane tyre production that takes place there. A STARCO representative told Tyrepress.com the installation of this new machinery will lift capacity and will also facilitate the development of new designs that ensure the plant’s continued competitiveness.
Continue Reading![APP-Tech now a Ronal Group company](https://www.tyrepress.com/wp-content/uploads/2017/01/APP-Tech.jpg)
APP-Tech now a Ronal Group company
The Ronal Group has announced its acquisition of Italian firm APP-Tech Srl at the end of last year and says this will help it meet growing customer demand for forged wheels. APP-Tech specialises in these products and sells the rims manufactured at its plant near Padua in northern Italy to vehicle manufacturers, high end aftermarket suppliers and motorsport teams. The company will continue to operate on an independent basis under the management of Francesca De Boni, and all APP-Tech staff will remain in employment.
Continue ReadingSales up 45% in 2016 – Rosava
Rosava reports selling 3.9 million tyres last year, a 45 per cent year-on-year increase on 2015. The Ukrainian tyre maker says the greatest rate of growth was witnessed in the agricultural tyre segment, where sales were up 57.6 per cent compared with 2015. Car tyre sales rose 47.3 per cent year-on-year, while sales of light commercial vehicle and truck tyres increased by 25 per cent and 17 per cent respectively.
Continue ReadingTitan International board becomes NACD Full Board Member
Titan International reports that its board recently became a Full Board Member of the National Association of Corporate Directors (NACD), a non-profit membership organisation for corporate board members,
Continue ReadingGoodyear declares common stock dividend
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.10 per share of common stock. The dividend is payable 1 March 2017, to shareholders of record on 1 February, 2017. The payout represents an annual rate of 40 cents per share.
Continue ReadingBlack Donuts to consult on Philippines rubber project
A 50 hectare rubber plantation and processing plant will be established on the Philippines island of Mindanao at a reported investment cost of US$200 million, and Finnish firm Black Donuts Engineering Inc. will serve as a consultant for coordinating the project.
Continue ReadingPreferred Kumho Tire bid to be chosen next week
Final bids to acquire a 42.01 per cent shareholding in Kumho Tire are in, and Credit Cuisse, who has managed the deal, has requested additional time in order to review the bidders’ documents. Pulse, Maeil Business Newspaper’s English-language website, posits that the preferred bidder will be picked between 16 and 18 January, and the terms then sent to Kumho Asiana chairman Park Sam-koo.
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