Mature markets a bastion of sales strength for Hankook Tire in challenging Q2 2015
Hankook Tire says increasing global competition, slow market growth in China and Korea and exchange rate fluctuations contributed to a year-on-year decline in operating profit in the second quarter of 2015. While sales revenue was only slightly down on a year earlier, falling 2.5 per cent to KRW 1.62 trillion (£886.4 million), operating profit dropped 20.0 per cent year-on-year in the April to June reporting period to KRW 201.1 billion (£110.0 million). Net profit figures were not reported.
Continue Reading![Michelin acquires second German wholesaler](https://www.tyrepress.com/wp-content/uploads/2015/07/MLX-Karte_tb.jpg)
Michelin acquires second German wholesaler
Last year Michelin made news when it bought out the parent company of Germany’s largest wholesaler, Ihle Baden-Baden AG, and now the French tyre maker has increased its wholesale presence in Germany with the 100 per cent acquisition of Meyer Lissendorf, a wholesaler with a strong car tyre focus. Michelin has not disclosed the purchase price.
Continue ReadingMichelin a CNH Industrial ‘best supplier’
Michelin’s Agricultural division has landed a CNH Industrial 2015 Best Supplier Award. Division head Emmanuel Ladent received the award on behalf of Michelin at a CNH Industrial-hosted ceremony on 16 July.
Continue ReadingTitan evaluating Brazil wheel facility, expansion in Turkey
Titan International is considering an expansion of its wheel business in the coming half year. In the company’s second quarter 2015 results announcement, CEO and chairman Maurice Taylor reports that Titan International is “exploring plans to expand our wheel plant in Turkey” and to “establish a new wheel presence in Brazil to accompany our existing tyre business.” Taylor did not furnish any additional details about the two potential projects.
Continue Reading![Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles](https://www.tyrepress.com/wp-content/uploads/2015/07/goodyear_blimp.jpg)
Goodyear reaffirms 2015 targets with ‘strong’ 2Q results, despite EMEA troubles
Goodyear has reported strong overall results for its second quarter, despite falling sales in the Europe, Middle East and Africa region. The manufacturer reported that the 20 per cent lower sales, $1,265 million compared to $1,580 million in the same quarter in 2014, was primarily a result of “unfavourable foreign currency translation”, though it also saw two per cent lower tyre unit volume. This was a result of lower consumer tyre sales and the manufacturer’s exit from the agricultural tyre business. Both original equipment and replacement tyre shipments were down two per cent. Its EMEA operating income was also eight per cent below the 2014 2Q, though operating margin rose from 7.4 to 8.5 per cent.
Continue Reading![Bonjour, Guten Tag, Hola, Ciao! – BKT website goes multilingual](https://www.tyrepress.com/wp-content/uploads/2015/07/bkt-website.jpg)
Bonjour, Guten Tag, Hola, Ciao! – BKT website goes multilingual
In January off-road tyre specialist BKT relaunched its bkt-tires.com website, and the company has now increased its international appeal by adding French, German, Spanish and Italian language options. The tyre maker says the jump from one to five languages on its site in “perfectly in line with the company’s positioning and focus on an international public.”
Continue Reading![Local production and OE aspirations – Triangle Tyre’s globalisation strategy](https://www.tyrepress.com/wp-content/uploads/2015/07/cohade-et-al.jpg)
Local production and OE aspirations – Triangle Tyre’s globalisation strategy
Even though some 55 per cent of the more than RMB 9 billion (£943 million) it earned last year came from sales outside of China, Triangle Tyre Co. Ltd. doesn’t yet consider itself a global company. But this is something China’s largest privately-owned tyre business intends to change. While it continues to invest in domestic R&D and manufacturing facilities, Triangle says it is also ready to expand its footprint beyond China. The company has appointed a new chief executive officer to facilitate this step, and during one of his first appearances in this new role he shared that we don’t have long to wait until we see the emergence of a more global Triangle Tyre.
Continue Reading![MWSD to present wheel safety campaign, latest wheels at NEC’s Coach & Bus Live](https://www.tyrepress.com/wp-content/uploads/2015/07/ph045.xlite-11.75-x-22.5-polished-wheel.jpg)
MWSD to present wheel safety campaign, latest wheels at NEC’s Coach & Bus Live
Motor Wheel Service Distribution (MWSD) is taking its wheel safety campaign to Coach & Bus Live 2015. The distributor will also display the latest xlite forged aluminium and Chevron stamped steel wheels. Located on stand B15, the leading wheel supplier will place a major educational focus on the impending EU Roadworthiness Act, which became law in May 2014 and must be implemented by Member States by May 2017, and will positively affect the UK commercial vehicle industry.
Continue Reading![Maxam adds iOS App for Apple devices](https://www.tyrepress.com/wp-content/uploads/2015/07/maxam_iOS_perArticolo.jpg)
Maxam adds iOS App for Apple devices
In January this year, Maxam Tire, the specialist manufacturer of OTR, construction, industrial and agricultural tyres, launched an App for devices working under the Android operating system. Now the company has launched a new, responsive version for all Apple devices.
Continue ReadingGrowth in mature markets drives up Michelin’s H1 results
Michelin reports a year-on-year rise in its net sales, operating income and net income in the first half of 2015. Net sales rose 8.5 per cent to €10.5 billion in the six months to 30 June 2015. Operating income increased 8.9 per cent to €1.3 billion, while operating margin remained constant at 12.0 per cent. At €707 million, net income was up 13.3 per cent year-on-year.
Continue Reading![Evonik expands commercial and lab space at US facility](https://www.tyrepress.com/wp-content/uploads/2015/07/evonik.jpg)
Evonik expands commercial and lab space at US facility
Specialty chemical company Evonik Industries has inaugurated a new facility in North America, its Richmond Business and Innovation Center. Along with other company executives and local, regional and state dignitaries, Evonik Industries’ executive board chairman Dr. Klaus Engel cut the ribbon for the new US$15.4 million facility on 21 July. With the new facility, Evonik more than doubles its laboratory and commercial space in the Greater Richmond area, and is expected to add 50 jobs there over the next five years.
Continue Reading![New website supports Firestone’s European relaunch](https://www.tyrepress.com/wp-content/uploads/2015/07/firestone-website.jpg)
New website supports Firestone’s European relaunch
As of this month a new Firestone web presence is covering 18 European markets and providing product and brand information in 14 languages. Bridgestone Europe has rolled out the new site to support its ‘revival’ of the Firestone brand within the region, a drive that has seen it introduce a new tyre line-up and a marketing campaign aimed at “young-at-heart drivers” who aspire to the “freedom to drive”.
Continue Reading![Video: Dunlop tyre development mini-series looks at Mercedes-AMG partnership](https://www.tyrepress.com/wp-content/uploads/2015/07/Dunlop-AMG-videos.png)
Video: Dunlop tyre development mini-series looks at Mercedes-AMG partnership
Dunlop has launched a series of videos themed on the brand’s technical partnership with AMG. The release of the first short videos is timed to coincide with Dunlop’s first anniversary as the AMG Driving Academy’s official tyre partner, which extended its four-year technical partnership with AMG Customer Sports. Each of the five videos offers behind-the-scenes access to Dunlop’s technical team, which designs, develops and tests tyres to meet Mercedes-AMG’s highest standards. The first two episodes in the series are available to watch in the main body of this article.
Continue ReadingGoodyear ordered to pay $2.7 million, for withholding tyre test information
On 21 July a US federal appeals court upheld a directive requiring Goodyear to disclose that it withheld information from a case involving an Arizona family in all future lawsuits. In a separate ruling, the appellate court also upheld “a $2.7 million sanction levied against the companys attorneys, an amount designed to compensate the plaintiffs in the case for all the costs they had incurred in filing the suit”, according to the Arizona Daily Sun.
Continue ReadingBorgWarner to acquire Remy International
BorgWarner has entered into a definitive agreement to acquire Remy International, Inc. (Remy), a global producer of rotating electrical components. With key technologies and operations in ten countries on five different continents, Remy is strongly positioned to benefit from global growth. As of December 31, 2014 the company employed 6,600 people and, for the fiscal year, it generated sales of $1.2 billion.
Continue Reading