Ruia Group acquires German Automotive Supplier
India’s Ruia Group, parent company of Dunlop India and Falcon Tyres, has acquired a 60 per cent controlling stake in Germany’s Henniges Automotive Grefrath GmbH, a supplier of automotive sealing systems to numerous vehicle manufacturers, including Daimler, BMW, Audi and Volkswagen. The cost of the acquisition, made through a Special Purpose Vehicle on behalf of Ruia, has not been disclosed. A further 15 per cent share in the acquired company now rests in the hands of Henniges director Juregen Hein, while administrator Wolf Von Der Fecht owning the remaining 25 per cent stake. Ruia Group chairman Pawan K Ruia told Dow Jones Newswires that the group has a call option to buy back the shares held by Fecht and Hein.
Continue ReadingYokohama to Unleash ‘Samurai’ at Dubai Motor Show
Yokohama Rubber has announced its participation in the Dubai International Motor Show 2009, which will run from December 15, Tuesday, through December 20, Sunday. A key product on display at the show will be Yokohama’s new “Advan dB”, which will be launched in Asian markets in July. The company says it will also exhibit “as reference products” a number of its latest offerings that have not been released in the Middle East market. A new corporate visual theme – "Samurai" – will also be unveiled for overseas markets during the show.
Continue ReadingState Funds to Aid in Testing of Canadian Scrap Tyre Technology
Canadian firm Ellsin Environmental Ltd is receiving government support in its implementation of technology that will enable scrap tyres to be converted into usable by-products by means of a microwave process. The patented reverse polymerisation technology was developed over a period of more than 15 years by another Canadian company, Environmental Waste International (EWI), and Ellsin has contracted EWI to build a demonstration system based on the EWI process. To assist, the Northern Ontario Heritage Fund Corporation (NOHFC) is investing CA$2 million assist in the construction of a test plant.
Continue ReadingTrelleborg Ending European Galaxy Distribution Following GPX Acquisition
As a result of Alliance Tire Group’s purchase of worldwide rights to the Galaxy brand from GPX International Inc., Trelleborg Wheel Systems will consequently stop distributing Galaxy-brand off-the-road tyres in Europe. Trelleborg states it continue to support its customers with the Galaxy brand until the new owner takes over.
Continue ReadingAlliance Bid for GPX Assets Accepted
Alliance Tire Group has successfully fought off Titan International’s bid for key GPX International Tire Corporation assets. On December 2, Titan submitted a US$44 million bit for GPX International’s US and South African business assets to the US Bankruptcy Court for the District of Massachusetts, an offer $5.7 million higher than that previously announced by Alliance. However, on December 8 Alliance announced the court approval of its agreement to acquire key GPX International assets, customer relationships, warehouse footprint and engineering capabilities. The agreement will also give Alliance worldwide rights to the Galaxy and Primex brands, the company’s medium radial truck tyre distribution business and South African subsidiary, GPX Tyre South Africa (Pty.). Exact details of Alliance’s final bid are unknown, however it is said to be in excess of $50 million.
Continue ReadingAlliance Europe Opens New Head Office
Alliance Tire Group has selected the Netherlands town of Halsteren as the location for Alliance Europe BV’s new office, commenting that the site positions it well to ensure improved responsiveness and to serve the market in a quick and reliable manner. The company adds that the move to a new office “facilitates the group’s ability to provide excellent customer support and sales services to its European business partners.”
Continue ReadingAnalysts: Tyre Makers to Raise Prices in 2010
Financial analysts expect tyre makers to increase prices between 5 and 8 per cent in January 2010, in part due to increased demand and supply shortages in some markets. The Morgan Stanley analysts once again singled out Hankook for particular praise and a “Buy” rating, saying: “After raising tyre prices by an average 7 per cent in the US in mid-October, Hankook is planning to raise average selling by…6 – 7 per cent in other major markets from early next year.” Yokohama, Continental and Nexen have all announced plans to raise prices by 5-8 per cent from January next year, the analysts explained, adding: “Hankook is also scheduled to begin price negotiations with…OEMs this month and is targeting a 3 per cent average selling price increase. These price hikes should help it offset natural rubber price hike to a large extent.”
Continue ReadingIn From the Cold: Former Michelin Nordic MD Returns to UK
When Malcolm Scovell was appointed commercial director at Michelin Tyre Plc earlier this year, his appointment marked a significant change in the company’s management as it followed the almost simultaneous appointment of Bill Schafer as commercial director of Michelin’s UK truck and bus operations in July. Now Scovell’s predecessor (Hervé de Froment) has transferred to take on a new role with Michelin in sunny Spain, Scovell – himself the former managing director of Michelin Nordic – has taken the opportunity to move to warmer (if not drier) climes. In his first full interview since taking over at Campbell Road, Tyres & Accessories asked what he brings to the role and what the market can expect in the next 12 months. According to Malcolm Scovell, premium brands have managed to maintain their overall market share despite the pressures of the down market. However, it is clear that some have faired better than others. As far as Michelin is concerned this year is said to have been pleasingly stable: “We are confident we have been able to maintain our position…[But] if we hadn’t have taken such a broad approach to the market – fleets, distribution, OE etc – we could have lost ground.”
Continue ReadingMarangoni, Pirelli Sign Truck Tyre Retreading Agreement
Marangoni and Pirelli Tyre have signed a collaboration agreement covering the retreading of heavy vehicle tyres. This new agreement reinforces the previous deal signed in 2003 for Europe, and recently extended to incorporate South America, a region where Pirelli holds undisputed truck tyre segment leadership and Marangoni has developed an important, qualified presence in the retread market.
Continue ReadingConti Opens New Romania R&D Centre
On December 3, a year and a week after its foundation stone was laid, Continental inaugurated a new office building for its Automotive Group R&D centre employees in the Romanian city of Iasi. The 9,000 square metre premises was erected at a cost of around 20 million euros, and will host the research and engineering brains behind all three of the Automotive Group’s divisions: Chassis & Safety, Powertrain, and Interior. Development activities at the new site will range from electronic brake systems and chassis components to hybrid electric drives and body and security as well as infotainment. In total, approximately 450 people are currently employed at the site.
Continue ReadingHas Pirelli Lost Fifth Place in European TBR Market to Hankook?
Market share data released by Hankook shows that Michelin remains the undisputed leader in both the car and truck tyre segments. However, the previously exclusive stable of top five tyre manufacturers has gained a new member in 2009. Hankook’s decision to publish its projections of how the land lies, following one of the most tumultuous periods in the market’s history, may only have happened because it was a good year for the South Korean tyre manufacturer, however the fact remains the unusual combination of events experienced in the last 12 months means there are signs that the status quo has been disrupted. Looking forward the question is: will the company be able to sustain this position in the years to come? Here’s Hankook’s calculation of how the European car tyre market will look at the end of 2009. Michelin remains market leader with a 20 per cent market share, followed by Goodyear Dunlop (18 per cent). Bridgestone are next on the list with a 12 per cent share of the market, followed by Pirelli with 8 per cent. And here’s where things get interesting. Hankook are in sixth place with a 7 per cent market share, snapping at the heels of fifth-placed Pirelli who are only one percentage point ahead with 8 per cent.
Continue ReadingGoodyear Produced BioIsoprene Tyres to Feature at UN Conference
Copenhagen is hosting the United Nations Climate Change Conference, and present at the event will be the world's first concept demonstration tyres made with BioIsoprene technology. This breakthrough substance, which replaces a petrochemically produced ingredient used in the manufacture of synthetic rubber with renewable biomass, made its debut in the Danish city in early December. Several tyres, produced in collaboration between Goodyear and industrial biotechnology company Genencor, have been shipped to Copenhagen. One will make appearances at several events during the conference. Others will be displayed in several locations, including at Copenhagen International Airport’s departure lounge through to December 21.
Continue ReadingSurprises Await in Latest Michelin Hong Kong Guide
The second edition of the Michelin Guide Hong Kong Macau, launched November 26, contains information on 205 restaurants in the former British colony and 38 in Macau. In total, the 2010 guide three three-star restaurants, nine two-star establishments and 39 one-star venues – including a premises described by Michelin guide director Jean-Luc Naret as the “most affordable starred restaurant in the world'."
Continue ReadingConti Invests to Expand Production Processes in Romania
Continental has announced plans to expand the production process at its Timişoara passenger car and light commercial vehicle tyre facility in Romania. The expansion will centre upon the construction of a new unit for processing the master batch and, adds Conti, will enable the company to have a completely integrated production unit that permits the local processing of raw materials, a feature that will consolidate the company’s tyre business in Romania and increase the plant’s cost competitiveness. The project will involve a “two digit million” amount, Continental adds, and will in the mid-term lead to the creation of around 200 new jobs.
Continue ReadingGoodyear Chooses CEVA as Logistics Partner in Turkey
Goodyear’s Turkish operation, Goodyear Lastikleri, has selected Ceva Logistics to handle its logistics requirements. Ceva Logistics will provide Full Truck Load (FTL) and Partial (LTL) distribution services from the tyre maker’s factories in Adapazari and Izmit, near Istanbul, to dealers and OEM customers throughout the country. All distribution process will be visible by Goodyear via a web based track and trace system.
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