![Apollo moves European truck tyre OE R&D to Enschede](https://www.tyrepress.com/wp-content/uploads/2015/03/Neeraj-Kanwar-Managing-Director-Apollo-Tyres.jpg)
Apollo moves European truck tyre OE R&D to Enschede
Attending the Geneva Motor Show is about original equipment (OE) positioning as much as it is about brand building. So when ambitious and fast-growing firms such as Apollo Tyres continue to make significant investments in such an exhibition it provokes questions about the company’s OE strategy. Geneva may ostensibly be about the latest and best cars, but our conversation with Apollo executives quickly shifted to the commercial vehicle tyres sector. Tyres & Accessories spoke with Apollo Tyres vice-chairman and managing director Neeraj Kanwar as well as chief business officer Sunam Sarkar in order to find out more about this as well as to consider the company’s future retreading options.
Continue ReadingTronchetti: Pirelli/ChemChina deal won’t affect employment
Following confirmation that ChemChina is set to buy Pirelli, the Italian manufacturer’s CEO, Marco Tronchetti Provera, has sought to re-assure employees that “the agreement with the Chinese will have no impact on employment”. Specifically this means R&D will remain in Italy, for example. For his part, Tronchetti was characteristically upbeat about the deal: “The opportunity with a partner like ChemChina is for the company to become bigger and to have a more effective penetration of the Asian market.”
Continue ReadingPirelli truck tyre business to merge with Aeolus
Following the news that Pirelli is effectively being bought by ChemChina (the state-owned parent company of Chinese brands including Aeolus), further details – namely the implications of the transaction on the truck tyre sector – are continuing to emerge. According to various news sources, it now looks likely that the Italian company’s truck tyre business will be merged with Aeolus Tyres (which is itself best-known for its commercial vehicle tyre products). Reuters made this claim by citing a statement from former Pirelli controlling shareholding company Camfin, which said Pirelli’s truck and industrial tyre business would be “folded into ChemChinas listed unit Aeolus, allowing it to double its output”.
Continue Reading![Cima Impianti manufacturing customer-specific facilities](https://www.tyrepress.com/wp-content/uploads/2015/03/Cima-Produktionshalle.jpg)
Cima Impianti manufacturing customer-specific facilities
Cima Impianti – which has been headquartered in Pistoia, Tuscany since 1953 – has from the very beginning focused upon the manufacture of tyre retreading equipment, particularly presses for mould cure retreading, and, in the past decade, on CNC buffing machines for passenger car, truck and OTR tyres.
Continue Reading![Pirelli shareholding to be controlled by ChemChina](https://www.tyrepress.com/wp-content/uploads/2015/03/ChemChina_portrait.jpg)
Pirelli shareholding to be controlled by ChemChina
In the early hours of 23 March 2015 Beijing Time, ChemChina’s China National Tire & Rubber Co. (CNRC) subsidiary signed an agreement with Camfin S.p.A. to purchase Camfin’s 26.2 per cent Pirelli shareholding at 15 euros a share. This values Pirelli at around 7.1 billion euros (£5.15 billion pounds). A joint tender offer by ChemChina, Camfin and other investors on the rest of Pirelli’s shareholding is now expected to follow.
Continue Reading![Who is ChemChina?](https://www.tyrepress.com/wp-content/uploads/2015/03/ChemChina_portrait.jpg)
Who is ChemChina?
With ChemChina in talks to buy Pirelli, Tyres & Accessories presents a brief introduction to the Chinese firm The China National Chemical Corporation (otherwise known as ChemChina) is Chinese a state-owned chemical, rubber and tyre business. Established in May 2004, ChemChina is run under the administration of SASAC (the Chinese State-owned Assets Supervision and Administration Commission). The first thing we have to consider is the size of the company. ChemChina is a Fortune 500 company and call itself Chinas largest chemical company. Globally the firm places itself in 19th place.
Continue ReadingChemChina front-runner to buy Pirelli
News agencies are reporting China National Chemical Corporation, which names brands such as Aeolus amongst its number, is close to purchasing shares in Camfin, which own 26 per cent of Pirelli and would give ChemChina a controlling shareholding in Pirelli. For the last year or so Camfin has been owned by Russian oil firm Rosneft and a holding company of Pirellis chairman and chief executive, Marco Tronchetti Provera. Other significant shareholders include Italian banks Intesa Sanpaolo and UniCredit.
Continue ReadingPirelli comments on acquisition speculation
At the request of Consob, the Italian Securities and Exchange Commission, Pirelli has issued a short statement regarding claims that company chairman Marco Tronchetti Provera is working with an Asian partner with a view to it partially or fully acquiring Pirelli.
Continue Reading![Servicesure Autocentres appoints first national sales manager, anticipating growth](https://www.tyrepress.com/wp-content/uploads/2015/03/Jason-McCreanney.jpg)
Servicesure Autocentres appoints first national sales manager, anticipating growth
Servicesure Autocentres has appointed its first national sales manager, Jason McCreanney. Servicesure is a national garage programme developed by The Parts Alliance; the parts distributor said the appointment marked the start of “rapid growth” for the scheme. McCreanney currently works as a business project manager for Car Parts & Accessories (CPA), the Sussex headquartered motor factor acquired by The Parts Alliance in September last year. He officially takes up his new role on Wednesday, 1 April.
Continue ReadingReports: Pirelli being sold to an Asian partner
Italian news reports have led to a flurry of speculation that Pirelli is up for sale and could be considering working with an Asian partner. The speculation centres on reports published by Corriere della Sera suggesting Pirelli chairman Marco Tronchetti Provera is working on bringing in an Asian shareholder/partner/owner. Bloomberg named Yokohama Rubber Co. and Zhongce Rubber Co. as potential investors.
Continue ReadingGoodyear launches ‘My Feel Good Place’ social media campaign
Goodyear launched a new social media campaign to back up its “Made to Feel Good” slogan. The “My Feel Good Place” campaign is being run through Instagram, collecting images of people’s favourite spots from around the world and automatically generating an interactive map. Goodyear states that the initiative represents an expansion of its mission statement; the manufacturer wants to expand the meaning of its slogan from “giving people the experience of a comfortable journey to the experience of that next inspiring, familiar or even life-changing destination.” Instagram users can submit pictures to the platform tagging a photo with #MyFeelGoodPlace. Their shot may then be eligible to win a few prizes, including a grand prize of two Goodyear-sponsored around the world airline tickets.
Continue Reading![Toyo Tire anti-quake rubber controversy sends shockwaves through share price](https://www.tyrepress.com/wp-content/uploads/2015/03/Toyo-drop.gif)
Toyo Tire anti-quake rubber controversy sends shockwaves through share price
Toyo Tire & Rubber Co.’s share plummeted by the most in four years this week after the company revealed that a rubber product it sold as a building material for protecting against earthquakes failed to meet the necessary certification. The news, which was released in an official statement on 13 March, revealed that that its […]
Continue ReadingJohn Salvatore the new Carlstar CEO
The Carlstar Group, LLC named John C. Salvatore as chief executive officer on 16 March, with the appointment effective immediately. Dino Cusumano, Partner of American Industrial Partners, Carlstar’s majority shareholder commented: “We are very excited to have John lead Carlstar as its CEO. John brings with him a long history of leadership and accomplishments in […]
Continue ReadingMichelin: European tyre demand improving, emerging markets face headwinds
Michelin’s February tyre demand data shows a sequential improvement in replacement demand in most markets. With China and Brazil being the only real exceptions, basically every other showed month-on-month increases - the first positive uptick months. The situation in China however, is somewhat bleaker. According to the Michelin tyre demand data, Chinese passenger car tyre replacement demand dropped -13 per cent from growth of +18 per cent in January. “This is a worrying indicator for broader China consumer demand”, Morgan Stanley market analysts wrote in an investor’s note data 13 March 2015.
Continue Reading![NDI seeks new partners for a greater presence in Germany](https://www.tyrepress.com/wp-content/uploads/2015/03/Nordexx-Profil.jpg)
NDI seeks new partners for a greater presence in Germany
Danish tyre wholesaler Nordisk Dæk Import (NDI) aims to significantly develop its market presence in neighbouring Germany. Carsten Andersen, area sales manager for the Brørup-based company, says NDI is currently searching for a dozen or so partners to take over distribution of its Nordexx private brand in Germany.
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