BKT maintains 30% CAGR
During Reifen 2014 a BKT (Balkrishna Industries) representative commented that the Indian off-road tyre specialist’s turnover has increased by an average of 30 per cent a year over the last five years. A look at the company’s results for the 2013-14 financial year shows this is indeed the case; for the 12 months to 31 March 2014 the company achieved net sales of Rs 35,770 million (£360.4 million). This is a long way from the Rs 12,572 billion earned in 2008-09. EBITDA was Rs 8,940 million (£90.1 million) for the 2013-14 period, a year-on-year increase of 34.5 per cent, while the EBITDA margin rose from 20.8 per cent to 25.0 per cent. Net profit for the year amounted to Rs 4,883 million (£49.2 million), with an earnings per share of Rs 50.53.
Continue ReadingMichelin intends to acquire Brazilian digital fleet management company
Michelin has announced its intention to acquire all outstanding shares of Sascar, the leading Brazilian digital fleet management and freight security company. Michelin said that the acquisition would help to strengthen its global truck fleet telematics business, calling it an important growth area.
Continue Reading2015 Pirelli Calendar photographer named
Pirelli says it has chosen Steven Meisel as photographer for its 2015 Calendar. The tyre maker hasn’t released any further information about the upcoming project at this stage.
Continue Reading![E-commerce comes of age](https://www.tyrepress.com/wp-content/uploads/2014/06/1260786_62055744-1.jpg)
E-commerce comes of age
It seems 2014 could be the year that tyre e-commerce hits maturity. It doesn’t seem that long ago that the NTDA published research showing that the number one method of ordering was phone and – wait for it – fax. Internet was a minority method, but e-mail (a medium of communication that is buckling under the pressure of increased demand for more and faster contacts) was showing some signs of growth. In fact it was November 2005, and therefore will soon be a decade ago. In 2014, virtually every significant wholesale and direct distribution operation is supported by a sophisticated online ordering system that is simply backed by other methods of communication.
Continue Reading![Giti enters the top 10 of leading tyre manufacturers](https://www.tyrepress.com/wp-content/uploads/2013/09/Key-tyre-industry-figures_6_2014_Page_1.jpg)
Giti enters the top 10 of leading tyre manufacturers
This year’s annual tyre manufacturer rankings have brought with them a number of key changes at the top of the table. The growth of Far Eastern manufacturers and Chinese companies in particular has long been observed, but 2014 sees Singapore-based Giti Tire break into the top 10 and Taiwan-based Maxxis/Cheng Shin Rubber retains its ninth position. Hot on Giti’s heels, 11th place ZC Rubber (producer of the Westlake brand) gained one place from its position in last year’s table. Indeed this part of the table is extremely close and, such is the competition at this level, if ZC Rubber had achieved the same figures as last year (assuming no-one else had done any better and excluding currency effects) it could have been in 10th position.
Continue ReadingRosneft gains funding for Pirelli acquisitions, signs MoUs with the Italian tyre maker
Late last month, Russia’s Rosneft disclosed it has attracted investments from pension capital funds and financial institutions to fund its 50 per cent acquisition of the holding company that owns 26.19 per cent of all shares in Pirelli & C. S.p.A., and can thus close the deal upon receiving approval from regulatory authorities. One the acquisition is given the green light under European, Italian and Russian law, the oil giant will indirectly hold a 13 per cent stake in Pirelli.
Continue ReadingDespite challenging environment, JK Tyre posts higher full-year profits
JK Tyre & Industries reports a 29 per cent year-on-year increase in net profit for its 2013-14 financial year. During the 12-month period between 1 April 2013 and 31 March 2014, the Indian tyre maker achieved turnover of Rs 82.8 billion (£833.7 million), nine per cent higher than in the prior financial year. Operating profit was up 41 per cent to Rs 8.9 billion (£89.6 million) while pre-tax profit grew 42 per cent to Rs 3.5 billion (£34.9 million). The 29 per cent expansion in the company’s bottom line brought net profit to Rs 2.6 billion (£26.5 million). The company has announced a 50 per cent equity share dividend.
Continue Reading![Is Bridgestone set to sponsor the Olympics?](https://www.tyrepress.com/wp-content/uploads/2014/06/1024px-Olympic-flag-Victoria.jpg)
Is Bridgestone set to sponsor the Olympics?
Bridgestone could be about to announce that it will sponsor the 2020 Olympics in Tokyo. However while it has confirmed that talks have taken place, the company is being much more tight lipped about sharing any details.
Continue Reading![Nexen Europe boss ‘takes over new functions’](https://www.tyrepress.com/wp-content/uploads/2014/06/Nexen_Tire_Joo-Ho-Song.jpeg)
Nexen Europe boss ‘takes over new functions’
Nexen Tire reports that Joo-Ho Song, The former president of Nexen Tire is to “take over new functions” at the company. Nexen was at pains to point out that the news marks the end of “an almost two year lasting success story of the Korean top manager in Germany”. No details of who will follow Joo-Ho Song have yet been released, but an announcement is expected shortly.
Continue Reading![New logo brings Manbat closer in line with Ecobat identity](https://www.tyrepress.com/wp-content/uploads/2014/06/manbat-logos.jpg)
New logo brings Manbat closer in line with Ecobat identity
Since leaving the ownership of the Pemberton family in 2009, Manbat has gradually become more aligned with the internal structure of the Ecobat Technologies group, while remaining faithful to its core principals of supplying its customers with quality products and service. The Manbat team aimed to ensure “business as usual” upon the change of ownership, and the success of this approach can be seen in the fact that some people remain unaware that Manbat is now part of a larger group.
Continue ReadingApollo ‘yet to finalise’ greenfield tyre factory location
Following news reports that Apollo has chosen Hungary as the location of its new tyre plant, the company has released a statement reiterated its plans and stating that it is “yet to finalise the exact location” for its factory.
Continue Reading![Borbet unveils new online presence](https://www.tyrepress.com/wp-content/uploads/2014/06/borbet.jpg)
Borbet unveils new online presence
Alloy wheel manufacturer Borbet marked the start of Reifen 2014 last week with the launch of its new-look website. The www.borbet.de site offers both English and German language options, although at the time of writing some features are only available in German.
Continue ReadingReports: Apollo chooses Hungary for new tyre factory
Slovakian news sources are reporting that Apollo has chosen Hungary over Slovakia for the site of its new 500 million euro tyre factory. According to the reports, is was “the business environment in Slovakia” pushed the manufacturer towards the other site when choosing from a shortlist of two.
Continue ReadingMitas selected as OEM supplier for TM Racing
Mitas is proud to announce its selection by TM Racing as an OEM tyre supplier for motocross, enduro and supermoto motorcycles. Mitas will supply C-21 Super and EF-07 Super tyres for enduro motorcycles (EN 300, EN 450FI, EN 530F, EN 125, EN 144, EN 250 and EN 250FI), C-19 and C-20 for motocross motorcycles (MX Junior) and Sport Force radial tyres for its supermoto models (SMM 530F, SMR 530F, SMM 450F, SMR 450F).
Continue ReadingBridgestone dismisses 500 tyre retail branch acquisition reports
Bridgestone representatives have dismissed reports that the company is considering acquiring up to 500 tyre depots in the UK in a bid to go head-to-head with the leading tyre retailer in the UK, Kwik-Fit. According to the reports, which surfaced over the weekend in The Telegraph, Bridgestone “is seeking to buy eight to 10 regional automotive retail groups within a year and merge them into one brand.”
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