Cooper Tire to purchase up to $200 million more of own shares
The Board of Directors at Cooper Tire & Rubber Company has authorised the repurchase of up to US$200 million of the company’s outstanding common stock between now and 31 December 2016. The tyre maker says shares “will be repurchased from time to time, based on market conditions and will be executed through open market purchases, privately negotiated purchases or otherwise.”
Continue Reading![Uniwheels to increase alloy wheel capacity with 3rd Polish plant](https://www.tyrepress.com/wp-content/uploads/2015/02/uniwheels-poland.jpg)
Uniwheels to increase alloy wheel capacity with 3rd Polish plant
German alloy wheel manufacturer Uniwheels has announced plans to expand its production operation in Poland by a further 2 million or so wheels. The original equipment supplier and manufacturer of the ATS, Rial, Alutec and Anzio aftermarket alloy rim brands produced over six million wheels at its two plants in Stalowa Wola last year; in addition to the aforementioned capacity boost, the erection of a third facility there will increase the site’s workforce with a further 250 jobs.
Continue Reading![Goodyear charged, fined $16 million over African bribes](https://www.tyrepress.com/wp-content/uploads/2015/02/sec.jpg)
Goodyear charged, fined $16 million over African bribes
On 24 February, the United States Securities and Exchange Commission (SEC) charged Goodyear Tire & Rubber Company with violating the Foreign Corrupt Practices Act (FCPA) when its subsidiaries paid bribes in order to secure tyre sales in Kenya and Angola. Goodyear has agreed to pay more than US$16 million to settle the SEC’s charges.
Continue Reading![Agreement on Genan’s future now in place](https://www.tyrepress.com/wp-content/uploads/2015/02/Genan_plant_Viborg.jpg)
Agreement on Genan’s future now in place
Danish pension fund PKA, accountancy firm Deloitte and a group of four bank lenders have signed an agreement to secure the future of tyre recycling company Genan. This agreement aims to safeguard jobs and ensure Genan’s continued existence. At the same time, a new chairman of the Genan Board of Directors has been instated.
Continue ReadingJoint venture sale lifts Cooper Tire 2014 income
The sale of its share in the Cooper Chengshan (Shandong) Tire Company joint venture operation in China helped propel Cooper Tire & Rubber’s net income upwards in 2014 and played a key role in quadrupling it in the final quarter of the year. Net sales were 0.4 per cent lower year-on-year, dragged down by weak performance outside of the Americas and the absence of Cooper Chengshan towards the end of the year. The tyre maker says it aims to maintain its margins in 2015 and expects to exceed industry unit volume growth rates in its largest markets; house brands will be a key contributor to this growth.
Continue Reading![Marangoni Commercial Tyres upgrades website](https://www.tyrepress.com/wp-content/uploads/2015/02/rinnovo-sito-truck.jpg)
Marangoni Commercial Tyres upgrades website
Marangoni Commercial Tyres has upgraded its truck.marangoni.com website. The site offers increased information on its Marix retread range.
Continue ReadingHeuver Tyrewholesale in 2014 ‘growth’
Heuver Tyrewholesale has commented on its “above-average results for 2014”. The Hardenberg, Netherlands-based wholesaler said its investments in people and resources, while also focusing on procurement and delivery conditions, had helped it outstrip market conditions. “Customer contact was our primary focus in 2014”, says Bertus Heuver, director of Heuver Tyrewholesale. “You can only retain customers if you pay particular attention to them and meet their specific needs. And our country-based approach to the market played a very important role. This required us to invest in new and experienced people – 17 new colleagues in total - as well as new resources.
Continue ReadingChinese aviation fund invests in, partners with Sentury Tire
Qingdao Sentury Tire has already stated its intention to become a player in the aviation tyre business, and in June 2014 the tyre maker received its first airworthiness certificate from a civil aviation authority (a Chinese Technical Standard Order Authorisation issued by the Civil Aviation Administration of China) ahead of the start of aviation tyre production later in the year. Now the company reports that on 29 December 2014, the AVIC (Aviation Industry Corporation of China) Fund of China invested RMB 400 million (£42.2 million) in Sentury Tire and become its strategic partner.
Continue Reading![Toyo Tires prevails in Sentury IP infringement case](https://www.tyrepress.com/wp-content/uploads/2015/02/c341c411-615b-46ff-9004-a5121e3470b1.jpg)
Toyo Tires prevails in Sentury IP infringement case
To loosely paraphrase the 2012 Taylor Swift song, Sentury Tires America is never, ever getting back together with the CLV6 tyre. In a statement released 19 February, Toyo Tire Holdings of Americas Inc. shared that Sentury has “agreed to never produce the original CLV6 tyre that was displayed at the 2012 SEMA Show or any tyre with a similar tread design” as part of the settlement it has reached with Toyo. The CLV6 was viewed by Toyo as an infringement of its United States design patent for the tread design used on its Nitto Motivo tyre.
Continue Reading![General Tire celebrates 100 Years](https://www.tyrepress.com/wp-content/uploads/2015/02/0_logo_general_tire_100_years1.png)
General Tire celebrates 100 Years
General Tire is celebrating its centenary this year. The company traces its origins to Akron, Ohio, where William F. O’Neill and his partner Winfred E. Fouse had the idea of producing superior quality tyres and founded the company in 1915. At the time, there were more than 300 companies making tyres in the USA. But unlike their competitors, from the outset the two partners put their faith in high quality, initially focusing on the truck market. Here they pioneered an oversized pneumatic tyre called the General Jumbo. Back in those days, trucks ran on solid rubber tyres and the pneumatic tyre was an innovation that soon caught on. A nationwide team of loyal, competent and independent dealers helped ensure that the brand rapidly proved a success.
Continue Reading![Falken Tyre partners with Rugby Super League](https://www.tyrepress.com/wp-content/uploads/2015/02/af1fc8491edf1e21_org.jpg)
Falken Tyre partners with Rugby Super League
The First Utility Super League and Falken Tyre Europe have entered into a partnership that will see the Japanese tyre manufacturer become an official partner of the UK’s elite Rugby League competition. Falken Tyre Europe’s first association with Rugby League will initially see their branding at all major games with further exposure set to be […]
Continue Reading![Toyo AC Milan sponsorship promoted in new video](https://www.tyrepress.com/wp-content/uploads/2015/02/we-are-ac-milan.-Forza-Milan-by-TOYO-TIRES.png)
Toyo AC Milan sponsorship promoted in new video
Toyo’s premium sponsorship of AC Milan has been supported by a new promotional video. The “Forza Milan by Toyo Tires” video, which also carries the social media-ready hashtag #weareacmilan, has the concept of connecting football fans around the world with a transcontinental game of keepy-uppy.
Continue ReadingMahle acquires thermal management division of US automotive supplier Delphi
Mahle has signed a definitive agreement to acquire the wholly-owned thermal business of US automotive supplier Delphi Automotive plc. In 2014, the division and its approximately 7,600 employees achieved annual sales of around $1.2 billion (roughly 1.0 billion euros). After approval by the relevant antitrust authorities, a closing of the deal is anticipated for the fall of 2015. Further, it is intended to acquire the joint venture of Delphi Thermal in China. Mahle said the takeover supports the strategic expansion of the important thermal management growth sector within the Mahle Group.
Continue Reading![Goodyear Fuelmax truck tyre in successful Snel Logistic Solutions test](https://www.tyrepress.com/wp-content/uploads/2015/02/Goodyear_FUELMAX_Workshop-7.jpg)
Goodyear Fuelmax truck tyre in successful Snel Logistic Solutions test
Netherlands based transport company, Snel Logistic Solutions has completed an internal trial on Goodyear’s Fuelmax range of commercial vehicle tyres. Initial internal results have revealed that tractors fitted with the tyres save one litre of fuel per 100 kilometres compared with the other tyres in the test. Goodyear has been competing hard to win fleet business since the launch of its latest commercial vehicle tyre lines, FuelMax and KMax, resulting in its deal with UK market leader Eddie Stobart in 2014. A year ago Goodyear announced that the FuelMax S had become the first steer position truck tyre to attain A-graded fuel efficiency on the EU tyre label.
Continue Reading![Bridgestone bringing innovation, Firestone brand to Geneva](https://www.tyrepress.com/wp-content/uploads/2015/02/Geneva_Layout_FINAL.jpg)
Bridgestone bringing innovation, Firestone brand to Geneva
Bridgestone will display its ologic and run-flat technologies at the upcoming Geneva Motor Show, along with its ‘air free’ concept – a non-pneumatic tyre aimed at providing a low-maintenance and fully sustainable ‘cradle to cradle’ solution that maximises the recycling of worn tyres and other resources. Also present will be the company’s more conventional product lines including, for the first time in many years, the Firestone brand. Passenger car and SUV tyres from the Firestone range will share stand space in Geneva with their Bridgestone brethren. The tyre maker will also share information about the new Firestone Music Tour – a network of festivals sponsored by Firestone.
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