A double win for Conti at TTI Awards
The winners of the Tire Technology International Awards for Innovation and Excellence 2014 have been announced, and Continental has walked away with awards in two of the five regular categories. In addition to being named Tire Manufacturer of the Year, the German firm was recipient of the Tire Manufacturing Innovation of the Year award for its ContiLifeCycle facility in Hannover. Other winners included Bridgestone, VMI and Sumitomo Rubber Industries. The awards were presented at a gala dinner held during this week’s Tire Technology Expo in Cologne.
Continue ReadingMichelin FY2013 net profits down 28 per cent…
Michelin has reported full year 2013 net sales of 20.247 billion euros, down 5.7 per cent (or 1.2 billion euros) on last year. Meanwhile operating income was fell roughly 10 per cent to 2.234 billion euros and net income plummeted some 23 per cent to 1.127 billion euros. According to Dow Jones analysts’ consensus was that this figure would fall less – by 22.0 per cent, and operating profit to retreat by 5.8 per cent.
Continue ReadingCooper Tire Europe sponsoring Arsenal
Cooper Tire Europe has announced that it is sponsoring Arsenal Football Club in a multi-year deal. The partnership, which will begin before the start of the 2014/15 season, will see the Melksham-based tyre manufacturer become an official partner to the north London club. The exclusive sponsorship designates the Cooper brand as the first “Official Tyre of Arsenal Football Club for Europe, Russia, Middle East, South Africa and selected north African countries and links the company’s passion for performance to football through the development of various advertising campaigns, consumer marketing programmes and promotions. No details of how much has been invested in the partnership have been revealed.
Continue ReadingWheels India announces new Xbrite wheel finish, ‘multi-million pound’ xlite investment
Maker of forged aluminium xlite wheels, Wheels India (WIL) has made a “multi-million pound” investment in its manufacturing facility. WIL said the investment has helped it set up a “state-of-the-art facility to meet increased demand for xlite forged aluminium wheels.” The manufacturer said that it will launch the next generation of its Xbrite wheel finish in the spring.
Continue ReadingContiTech buys former Goodyear business Veyance Technologies for 1.4 billion euros
Continental has concluded an agreement with equity firm The Carlyle Group to purchase Veyance Technologies Inc for roughly 1.4 billion euros. Veyance operates globally in the field of rubber and plastics technology and in 2013 recorded sales of approximately 1.5 billion Euro, around 90 per cent of which were achieved outside the automotive industry. Veyance has 27 plants around the world and a workforce of about 9,000 employees at the end of 2013. The Carlyle Group announced it had bought what was formerly Goodyear’s Engineered Products division for US$1.475 billion on 23 March 2007.
Continue ReadingPirelli reschedules 2013 results review meeting
Pirelli & C. SpA has announced that the Board of Directors meeting it scheduled to review results for the year ended 31 December 2013 will now take place on Thursday 27 March 2014 and no longer on Tuesday 11 March, as previously announced. The company says this change follows the announcement from Prelios SpA – a real estate sector company that Pirelli is shareholder of – that it has postponed its Board of Directors’ meeting to review results for the year ended 31 December 2013 until 25 March 2014.
Continue Reading‘The Ventus Experience’ – Hankook celebrates premium approvals
One of the most effective means of elevating brand awareness is through original equipment fitments, and after rising through the ranks of aftermarket tyre suppliers, Hankook Tire is busy assembling a portfolio of new vehicle approvals that place it in league with the world’s best-known and trusted tyre brands. The list of Hankook original equipment approvals from the last few months alone includes fitments for the Mercedes-Benz S-Class and E-Class, plus the BMW 5-Series and X5. These deals come at a time of growth for Hankook’s performance tyre business – as evidenced by the 12.9 per cent year-on-year rise in European UHP tyre sales during 2013 – and Hankook is in the mood to celebrate its success. The tyre maker recently invited journalists from Europe and beyond to Spain in order to get to know the company and its latest Ventus lines a little better.
Continue ReadingKumho 2013 performance lags behind prior year
Kumho Tire has informed the Korea Stock Exchange that its 2013 sales, operating income and net profit were lower than the comparative figures for 2012. According to the company’s consolidated financial statements, total sales last year amounted to KRW 3,698.5 billion (£2.1 billion), a year-on-year reduction of 9.1 per cent. Operating income, at KRW 348.2 billion (£197.8 million), was down 7.2 per cent on the 2012 result. Net income for 2013 was KRW 117.4 billion (£66.7 million) and 10.1 per cent less than a year earlier.
Continue ReadingRussia/CIS, taxes weigh upon Nokian Tyres in Q4 2013
Recent tax reassessments have given the Nokian Tyres Group a negative bottom line in the fourth quarter of 2013. The Finnish tyre maker’s pre-tax profit of €57.7 million (already down 44.6 per cent year-on-year) was dragged down to €-36.4 million by the additional €100.3 million in taxes and interest that Finland’s Tax Administration requires Nokian to pay for the 2007 to 2010 financial years.
Continue ReadingApollo Tyres building UK dealer network at ‘iconic venue’ events
Apollo Vredestein UK managing director Stuart Jackson revealed several strategic details with which Apollo plans to grow its brand in the UK. Apollo is to introduce a truck and bus tyre range and expand its passenger car tyre lines into a fourth generation, with a sizeable investment in UK marketing “to support brand growth.” The tyre manufacturer will also develop its links with Manchester United, both as a partner in a sports facility initiative and as a significant branding opportunity, with video and print marketing materials featuring the purple of Apollo and the red of the Stretford team.
Continue ReadingHeuver reports positive end to 2013
Although Heuver Tyrewholesale experienced a “slow and somewhat difficult start” to 2013, the Netherlands-based wholesaler says it ended the year with a healthy balance sheet. This positive performance was aided by improvements to the company’s website and online shop – Heuver says online turnover again increased compared with recent years. Changes in the Benelux and German markets also benefitted customers by enabling them to place more regular orders for smaller quantities of tyres.
Continue ReadingVimexa Automotive enters the European tyre, wheel and battery segments
After eight years at Belgian wholesaler Deldo, former international sales and marketing manager Rutger Veerman has established Vimexa Automotive B.V., a sales and marketing organisation based in The Netherlands. Vimexa Automotive commenced operating in January 2014 and focuses on import and export solutions for the tyre, alloy wheel and battery segments.
Continue ReadingApollo Tyres says yes to Eastern Europe, Asia, and no to China
It appears to be a case of once bitten, twice shy for Apollo Tyres. Following its experience with Cooper Tire & Rubber, and particularly its joint venture subsidiary Cooper Chengshan, the Indian tyre maker seems ready to give China a wide berth for the time being.
Continue ReadingContinental extends European football sponsorship
Football is Continental AG’s sponsorship medium of choice for its Continental tyre brand, and the German manufacturer has added to its existing agreements covering the 2014 FIFA World Cup in Brazil and UEFA EURO 2016 in France with a further UEFA deal. The agreement with European football’s governing body includes touchline advertising at European Qualifiers for UEFA EURO 2016 and the 2018 FIFA World Cup in Russia, and a presence on www.UEFA.com, the official website for the European Qualifiers. Continental will also enjoy a significant rights package at the UEFA Under 21 Championship 2015 and 2017, UEFA Women’s EURO 2017 and UEFA Futsal EURO 2014 and 2016 tournaments.
Continue ReadingBlackcircles: labelling is changing tyre choice
Blackcircles.com has become the latest tyre firm to share its experience of how the adoption of tyre labelling is (or isn’t) affecting the purchase choices motorists are making. According to Blackcircles’ sales data, consumers are definitely using the EU Tyre Labels when deciding which tyres to purchase. Additionally, data collated by Blackcircles.com suggests shows that tyre safety is of more importance to motorists than fuel efficiency.
Continue Reading