Vipal Rubber opens UK distribution centre in Felixstowe
Brazilian tyre retreading specialist Vipal Rubber is further strengthening its presence in Europe with the opening of a new distribution centre in Felixstowe, the largest container port in the United Kingdom. The new 2,000 square metre Vipal centre has the capacity to store up to 500 tonnes of products, and was opened to cater to demand in Britain and Ireland; these markets were previously served by Vipal’s distribution centre in Germany.
Continue ReadingBridgestone net income up 7.4% in nine-month financials
On 10 November Bridgestone reported group net sales of 2.665 trillion yen (£14.586 billion; 18.542 billion euros; US$23.137 billion) for the first nine months of 2014. Sales were up 2.3 per cent compared with the same period in 2013. Operating income amounted to 342.468 billion yen (£1.873 billion; 2.382 billion euros; $2.970 billion), up 7.4 per cent. Net income totaled 225.670 billion yen (£1.234 billion; 1.569 billion euros; $1.957 billion), up a strong 15.2 per cent compared with the first nine months of 2013.
Continue ReadingAnalysts: Cooper 3Q results surprise, but shares fall
Shares of Cooper Tire & Rubber Co. fell 1.9 per cent on 7 November following news that the company’s earnings in the third quarter of 2014 increased to 77 cents from breakeven earnings in the prior-year quarter. The latter figure is significant because it exceeded certain analysts’ estimates. For example the Zacks Consensus Estimate of 72 cents was some five cents below the actual results.
Continue Reading![A.C. Milan players dribble from the rooftops with Toyo Tire](https://www.tyrepress.com/wp-content/uploads/2014/11/milan2.jpg)
A.C. Milan players dribble from the rooftops with Toyo Tire
Four players from Italian football club A.C. Milan race against an Audi R8 through the team’s hometown in a new video released by Japanese tyre maker Toyo Tire & Rubber. The two-minute promotional video features Riccardo Montolivo, Jérémy Ménez, Adil Rami and Keisuke Honda from A.C. Milan competing against the enthusiastically-driven R8 in a city alley race, and Toyo promises a ‘surprise ending’ when the Stig-like character behind the wheel of the Audi finally removes his helmet. The video is available to view below.
Continue ReadingBridgestone confirms move ‘downtown’
Reports published yesterday on Bridgestone Americas’ upcoming move to a new headquarters have been confirmed by the tyre maker. In a statement, the Bridgestone subsidiary said it will move its headquarters to downtown Nashville following the completion of its new facility in mid-to-late 2017. The new headquarters will house more than 1,700 employees – 1,100 currently based in Nashville and 600 more jobs from three out-of state business units that are being relocated to the city.
Continue Reading![Groundbreaking held for Federal Tyres’ newest factory](https://www.tyrepress.com/wp-content/uploads/2014/11/Federal-Tyres-baut-in-Taiwan_tb.jpg)
Groundbreaking held for Federal Tyres’ newest factory
At a ceremony attended by local government officials, senior management and international customers, last month Federal Tyres formally broke ground on its third tyre plant in Taiwan. The new facility is being erected on a 14,000 square metre site in the Taoyuan Industrial Park, and the NT$8.1 billion (£166.7 million) investment will be completed in two phases between 2014 and 2020; once the plant is fully operational, it will create 836 jobs and produce an estimated maximum of six million tyres a year.
Continue Reading![Tyre innovations yield SRI ‘Top 100 Global Innovator’ recognition](https://www.tyrepress.com/wp-content/uploads/2014/11/tr-logo.jpg)
Tyre innovations yield SRI ‘Top 100 Global Innovator’ recognition
Upon releasing its 2014 Top 100 Global Innovators list on 6 November, Thomson Reuters commented that its top 100 most innovative companies achieved nearly double the 6.85 per cent annual revenue growth rate of S&P 500 firms while increasing their research and development budgets by an average of 17 per cent year-on-year. One familiar tyre industry name on this list of worthies was Sumitomo Rubber Industries; the company views its inclusion on this year’s list as “further evidence of the great acclaim that we have earned for these and other innovative research and development efforts.” This is the second Top 100 appearance for Sumitomo Rubber Industries in the four years the list has been published – Thomson Reuters also chose to include the company in 2011.
Continue ReadingApollo Tyres maintains revenues, increases profits
Net profit went up 17.5 per cent in the second quarter of Apollo Tyres Ltd’s 2014-15 financial year, the company reported on 10 November. This positive result was achieved despite a slight decrease in net income from operations, and reflects a growth in exports from India and healthy performance in Europe.
Continue Reading![ATS Euromaster appointed key tyre partner for Euro Car Parts](https://www.tyrepress.com/wp-content/uploads/2014/11/np-ecp.jpg)
ATS Euromaster appointed key tyre partner for Euro Car Parts
Euro Car Parts makes more than 5.5 million deliveries of car and light commercial vehicle parts every year and operates a fleet of 2,400 cars, vans and HGVs. The company recently appointed ATS Euromaster its key partner supplier to fit and maintain tyres on this fleet. Under the terms of the deal, Euro Car Parts’ operations team will start receiving detailed fleet reports that will help them analyse tyre use and control costs, and all van and truck drivers now have access to ATS Euromaster’s roadside rapid response service in case of a tyre-related emergency.
Continue Reading![Blackcircles and Dmack agree exclusive UK supply partnership](https://www.tyrepress.com/wp-content/uploads/2014/11/Dmack_blackcircles.jpg)
Blackcircles and Dmack agree exclusive UK supply partnership
British tyre brand Dmack has agreed an exclusive UK supply partnership with Blackcircles.com for its passenger car tyre range. The online tyre retailer will offer Dmack PCR products to its customers and retail partners from January 2015. The deal has been in the making for a few months; having participated in 49 World Rally Championship events since it burst onto the international stage, winning accreditation in September 2010, Dmack has developed passenger car and commercial vehicle ranges for global markets. Manufactured by Shandong Yongtai, with British moulds and R&D, managing director Dick Cormack told Tyres & Accessories in April that the brand would compete as an aspirational mid-range brand, and would seek “the right partners” to achieve this. In Blackcircles – themselves in a period of business expansion – Dmack’s management believes they have found the right partner in their home territory.
Continue ReadingYokohama sets new 9-month operating income, net income records
The Yokohama Rubber Co., Ltd net sales increased 4.2 per cent in the first three quarters of 2014 to 429.8 billion yen (£2.369 billion; 3.015 billion euros; US$3.768 billion). Operating income increased 6.5 per cent, to 31.9 billion yen (£175.878 million; 223.792 million euros; $279.670 million); and net income increased 27.4 per cent, to 24.9 billion yen (£137.269 million; 174.673 million euros; $218.329 million). According to the company, all three of those totals were Yokohama’s highest ever in the nine-month period from January to September.
Continue ReadingQ3 Cooper Tire result exceeds estimates
After delivering investors a net income of exactly no cents per share in the third quarter of 2013, this year Cooper Tire & Rubber exceeded analyst estimates to deliver US$0.77 per share, $0.05 higher than the consensus estimate. In reporting these much stronger third-quarter results, the company pointed out that its financial results from a year earlier were impacted by “a number of unusual circumstances,” including strike action and other issues at the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) joint-venture operation in China, which resulted in lower production and shipments; higher costs and lower volume associated with shipping inefficiencies related to ERP system implementations; and costs related to the then-pending acquisition by Apollo Tyres, a deal that was terminated at the end of the year. “As a result, many of the year-over-year comparisons are not representative of the business under normal conditions.”
Continue ReadingCooper Tire considering its options in China
Although Cooper Tire & Rubber will retain offtake rights for tyres produced by the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) plant in China after its ownership is fully transferred to Chengshan Group Company Ltd., the tyre maker is nevertheless looking for an alternate supply of tyres in China. Several options are under consideration; company chairman, chief executive officer and president Roy Armes outlined these at Cooper’s third quarter earnings call on 7 November.
Continue Reading![Apollo announces final Manchester United football challenge](https://www.tyrepress.com/wp-content/uploads/2014/11/apolo-accuracy-challenge.jpg)
Apollo announces final Manchester United football challenge
The third and final skill test in the ‘Apollo Challenge’ has begun. Together with Manchester United F.C., tyre maker Apollo Tyres is encouraging football aficionados to demonstrate just how on target their shooting is with the Apollo Accuracy Challenge. This particular challenge sees Manchester United midfielder Ashley Young demonstrate the importance of accuracy, a quality Apollo Tyres argues is the most important skill for any footballer.
Continue ReadingBekaert-Pirelli steelcord deal expected to close in Q1 2015
Upon releasing its latest financial results, Pirelli provided an update on the deal to sell its steelcord business to Belgium’s NV Bekaert SA. The European Commission approved the transaction at the start of August, and Pirelli reports that it still remains subject to approvals in China and Turkey. The deal is expected to close between the end of 2014 and the first quarter of 2015.
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