Profits of listed Chinese tyre companies rise sharply
A number of Chinese tyre manufacturers have stated that their net profits significantly increased year-on-year in 2023. Doublestar is one of the few tyre companies that was still losing money. Jiangsu General turned losses into profits. In terms of net profit alone, Sailun’s 3.1 billion yuan suggest the company gradually widened the gap between itself and Linglong. Currently, ZC Rubber has not officially disclosed its operating data for 2023. Therefore, it is not yet possible to judge who is in the leading position in terms of net profit between Sailun and ZC Rubber.
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Pyrum commences pyrolysis oil deliveries to BASF
Pyrum Innovations views the commissioning of reactor 2 (TAD 2) at its main Dillingen/Saar site in Germany as a “new milestone,” and test runs of TAD 2 have resulted in the production of around 60,000 litres of pyrolysis oil, with the first delivery of 24,000 litres earmarked for BASF. Rigorous testing and sampling confirm that the oil meets all required specifications, paving the way for future deliveries.
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Ceat extending cricket remit with IPL partnership
Tyre maker Ceat Ltd is bowling another over in its sponsorship of the Indian Premier League (IPL). The company first partnered with the men’s Twenty20 cricket league in 2015 and renewed the arrangement for a further five years in 2018. The Board of Cricket Control in India has now confirmed its selection of Ceat as an IPL Official Partner.
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GDSO welcomes Yokohama Rubber as full member
As of January 2024, the Yokohama Rubber Co., Ltd. is a full member of the Global Data Service Organisation (GDSO) for Tyres and Automotive Components, an international non-profit association promoting standardisation and access to tyre-related data. As a GDSO member, Yokohama Rubber will comply with industry standards promoting individual tyre identification management.
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Continental sells Tikka Spikes Oy via management buy-out
Continental has sold its Finnish Tikka Spikes Oy business to the company’s management in a management buy-out (MBO). As a result, parts of Tikka’s current management team led by Juha Rautiainen will acquire all Tikka Spikes Oy shares through their newly founded company Tikka Industrial Oy. The target date for completion is 1 March 2024. All Tikka Spikes employees will stay with the new owners. Existing supply, development and testing partnerships with Continental will be continued. Both parties have agreed not to disclose the purchase price.
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NAPA partners with Valvoline in new oil range
Valvoline has been supplying Genuine Parts Company (GPC), the US-based parent company of NAPA, with Valvoline-branded and NAPA-formulated lubricants for more than 50 years, and is one of the largest suppliers to GPC. The UK partnership builds on this existing relationship and the two brands’ matching commitment to uncompromising quality and relentless innovation.
Continue Reading Profitable growth for Yokohama Rubber in 2023
In fiscal year 2023, Yokohama Rubber announced significant increases across key financial metrics, with revenue rising by 14.5% to reach 985.3 billion yen (£5.2 billion), operating profit increasing by 45.8% to 100.4 billion yen (£530.3 million) and profit attributable to owners of the parent company climbing by 46.4% to 67.2 billion yen (£354.9 million). These figures marked record-high full-year performance levels for Yokohama Rubber. The company also achieved its target of raising its ratio for business profit to sales revenue above 10% in line with the objectives it outlined in the YX2023 medium-term management plan.
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Sumitomo Rubber Industries interested in Dunlop brand for Europe, North America
Tyres are just black and round, as friends and loved ones never grow weary of pointing out, but things get more complicated when the Dunlop name is on the sidewall. While most tyre brands are produced by a single company, Dunlop has the distinction of being made by no less than three. But things may soon become simpler.
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Chinese authorities seize fake Yokohama wheels
Until recently, half a dozen companies in China produced counterfeit Yokohama Advan Racing alloy wheels, but their days of fakery are over thanks to the joint efforts of intellectual property rights holder Yokohama Rubber and the authorities in three cities. Yokohama Rubber speaks of a “successful completion of its efforts to eliminate counterfeit versions of the company’s aluminium wheels in China.”
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Pirelli, GC&C & Aon sign sustainability-linked insurance solution
Generali Global Corporate & Commercial (GC&C) Italy, Pirelli and Aon have signed an agreement on an insurance solution aligned with United Nations Sustainable Development Goals (SDGs). Announcing the agreement’s signing, Pirelli says this collaboration underscores the protagonists’ commitment to advancing Environmental, Social, and Governance (ESG) principles and improving risk quality for all stakeholders.
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Protyre expanding Delphi training portfolio
Protyre Autocare has partnered with Delphi since 2018, leveraging the Delphi Academy e-learning platform that offers over 300 interactive modules to enhance the learning experience through technical articles, videos, and simulations. It credits the partnership with driving a significant diversification in the Protyre service portfolio – since collaborating with Delphi, general servicing and repair work have risen from 15% to 40% of Protyre’s operations. The tyre retailer now intends to support its growth plans by offering “well over” 1,000 bespoke Delphi training sessions this year.
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Nexen Tire joins GDSO
Nexen Tire is now a full member of the Global Data Service Organization (GDSO) for Tyres and Automotive Components. Announcing its decision to join, the company states that this membership “underlines Nexen Tire’s position as one of the worlds leading tyre manufacturers and its commitment to advancing the industry with technical innovations.”
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Bridgestone profit up 10% in 2023
Reporting its financial performance in the 2023 financial year, Bridgestone Corporation shares that it achieved revenue of ¥4,313.8 billion (£22.8 billion), a year-on-year increase of 5%; adjusted operating profit was ¥480.6 billion (£2.5 billion), a year-on-year decrease of 0.4%; operating profit was ¥481.8 billion (£2.5 billion), a year-on-year increase of 9%; profit before tax was ¥444.2 billion (£2.3 billion), a year-on-year increase of 5%; and profit attributable to owners of parent was ¥331.3 billion (£1.8 billion), a year-on-year increase of 10%.
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Online branding methodology: how Stobbs worked it out
Following the publication of our latest online branding research, we wanted to give readers access to how the calculations were made. So, here is Stobbs online branding methodology, heres how they worked it all out. When it comes to the calculation of online prominence, brand mentions are identified by matching the content of the webpage HTML using regular expressions (Regex), a formulation which allows wildcard-based searching and is able to identify brand references within longer strings (such as the URL of the page).
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Fintyre exits debt proceedings early, signs 20-million-euro loan
Italian tyre distributor Fintyre has concluded its composition proceedings with creditors and cleared its debts 15 months ahead of schedule. Confirming the group’s fiscal solidity the company has also announced closing a 20-million-euro financing transaction with Banco BPM.
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