New Goodyear plant to meet growing Americas demand
Due to a strong free cash flow in 2013, Goodyear Tire & Rubber is reallocating approximately US$1.1 billion of its 2014-2016 cash flow – $300 million of this will go towards establishing a new consumer tyre facility in the Americas. Goodyear aims for the plant to begin production in the first half of 2017 with an annual capacity of around six million tyres, an amount that will be expandable as demand increases. Site selection to identify a suitable location for serving North and Latin American customers is now underway. Total plant investment will be in the vicinity of $500 million.
Continue ReadingKumho, Yokohama extend cooperation with R&D agreement
Collaboration between Yokohama Rubber and Kumho Tire will become even closer following the signing of a cooperative research and development agreement and a license and technology exchange agreement on 31 May. The agreements are based on the master technological alliance agreement signed by the two companies on 15 February, an agreement that in turn followed the signing of a Memorandum of Understanding on 29 November 2013. Under this latest agreement, Yokohama Rubber and Kumho Tire will begin joint research and development on new tyre-related technologies, including ultra lightweight tyres and other environmentally friendly tyre technologies, as well as new concept tyres.
Continue Reading![Reifen 2014 heralds new era of Kenda European product development](https://www.tyrepress.com/wp-content/uploads/2014/05/Kenda_Michael-Andre_1.jpg)
Reifen 2014 heralds new era of Kenda European product development
Taiwanese manufacturer Kenda has sold products into European markets for some time, but Reifen 2014 is seen as an opportunity to enhance and solidify its position. This rejuvenation of Kenda’s European business is inspired by the establishment of a new European headquarters in Oldenburg, Germany, and two key appointments.
Continue Reading![Nokian appoints new president, CEO](https://www.tyrepress.com/wp-content/uploads/2014/05/alehtoranta-450x595px.png)
Nokian appoints new president, CEO
Later this year, Ari Lehtoranta will succeed Kim Gran at the helm of Nokian Tyres. Lehtoranta will join the tyre maker on 1 September and take over as president and CEO on 1 October. He is currently employed by Kone Corporation as executive vice-president, Central and North Europe. Kim Gran will continue in his current positions until 30 September and then use his option to retire. Gran has led the company since 1 September 2000. He will continue to be a member of the Nokian Tyres Boad of Directors.
Continue ReadingPoint S presenting consolidation strategy at Reifen
While Point S used the 2012 Reifen show to announce the signing of partnership agreements in South Africa, Slovenia and Canada, at this year’s event the retail cooperatives will be reporting details of its consolidation strategy.
Continue ReadingHiQ appoints property agent to aid ‘ambitious’ network growth plans
HiQ has hired property agent CPBigwood to identify new sites as it seeks to increase its number of branches. HiQ retail director Farrell Dolan told Tyrepress: “Our growth plans for our network are ambitious, but we are in the process of developing a new retail model that will make it easier for prospective franchisees to join the HiQ network.”
Continue ReadingUK and European motorists increasingly buying tyres online
UK and European motorists are increasingly choosing to purchase tyres through the Internet. The latest research published by one of the largest tyre e-tailers, Delticom also suggest – perhaps unsurprisingly – that consumers are increasing tending towards their online retail platforms. These results of the research have been published in the Delticom Report “Tyres Online 2014”.
Continue Reading![Pirelli and Rosneft in synthetic rubber cooperation talks](https://www.tyrepress.com/wp-content/uploads/2014/05/pic41.jpg)
Pirelli and Rosneft in synthetic rubber cooperation talks
Rosneft president and chairman of the management board Igor Sechin has held negotiations with Pirelli’s top management including Marco Tronchetti Provera on the subject of expanding the two companies well reported cooperation.
Continue ReadingBrembo reports huge double-digit rises in 1Q sales, margin and EBITDA
Brake manufacturer Brembo has reported very strong increases in first quarter revenues - up 20.2 per cent to 446.9 million euros; operating margins - EBITDA at 69.1 million euros (+46.1 per cent); and pre-tax profits - EBIT of 45.9 million euros, +75.6 per cent.
Continue ReadingPirelli figures suggest improved European tyre demand
The latest Pirelli tyre market watch figures suggest demand is continuing to improve in the European market in both the original equipment and replacement sectors. First off the European car tyre market (excluding Russia) showed a positive trend in April despite the unfavourable comparison.
Continue ReadingEuropean Commission to get tough with car manufacturers?
Since 2010, most vehicle manufacturers in Europe have been reluctant to engage on the topic of a meaningful and binding industry code of good conduct designed to foster clearer and fairer relations between dealers and manufacturers, says the NFDA (National Franchised Dealers Association). This position has been adopted by the manufacturer body, ACEA, despite consistent lobbying on the part of dealer representative bodies such as the NFDA, ECD (European Car Dealers - a Division of CECRA) and support from the European Parliament.
Continue ReadingIncreased OE activities and higher global sales part of Cooper’s growth strategy
At its Investor Day, held in New York on 15 May, Cooper Tire & Rubber outlined the measures it will implement to support the company’s goal of sustained annual operating profit in the eight to ten per cent range and, over the long term, operating profit above ten per cent plus annual net sales in the vicinity of US$5 billion to $6 billion.
Continue ReadingGoodyear to present at KeyBanc Capital Markets conference
Goodyear Tire & Rubber says it will webcast its presentation at the KeyBanc Capital Markets’ Industrial, Automotive, and Transportation Conference on 29 May, with Laura K. Thompson, executive vice-president and chief financial officer, providing a business overview. A live audio webcast of the presentation will be available at 10am EDT (3pm BST, 4pm CEST) on the company’s investor relations website: http://investor.goodyear.com. A replay of the webcast will be available following the event.
Continue ReadingBekaert enjoys Q1 organic growth, falls victim to currency effects
Steel cord manufacturer Bekaert reports organic sales growth in the first quarter of 2013, however the influence of changing exchange rates ensured this positive trend was more than cancelled out. In the first quarter of 2014, Bekaert achieved consolidated sales of €782 million and combined sales of €990 million, respective decreases of 2.1 per cent and 4.4 per cent compared with the first quarter of 2013. On a constant currency basis, Bekaert’s consolidated revenues increased 4.2 per cent and combined sales rose 4.9 per cent.
Continue Reading![Electric vehicles enter Bridgestone fleet](https://www.tyrepress.com/wp-content/uploads/2014/05/np-AlphaElectric-6.jpg)
Electric vehicles enter Bridgestone fleet
Bridgestone has put its money where its mouth is by adding a number of all-electric BMW i3 vehicles to the car pool attached to its European headquarters near Brussels, and by equipping the headquarters site with recharging points. The tyre maker says the presence of electric vehicles in its fleet underlines its faith in the concept of sustainable mobility.
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