![Several Guangrao tyre companies have stopped or limited production](https://www.tyrepress.com/wp-content/uploads/2022/11/xuda-tyres-stacked.jpg)
Several Guangrao tyre companies have stopped or limited production
Guangrao County in Dongying City seems to have gone silent in a short period. On October 20, Guangrao detected an asymptomatic case of Covid-19. Then things seemed to get serious. Data from the Dongying Municipal Health Commission showed that from the 22 to the 30, new asymptomatic patients of Covid-19 were found in Guangrao daily. The government launched a response policy in a short time. According to Guangrao residents, since the 23, some communities have asked people to stay at home, and some factories require closed-loop management.
Continue Reading![Sailun rising: China’s listed tyre companies ranked in 2022 Q3](https://www.tyrepress.com/wp-content/uploads/2022/11/sailun-plant.jpg)
Sailun rising: China’s listed tyre companies ranked in 2022 Q3
Based on stock market reporting for the third quarter of 2022, the top nine Chinese listed tyre companies ranked by revenue are Sailun, Linglong, Triangle, Huayi (the holding company of Double Coin), Guizhou Tyre, Sentury, Aeolus, Jiangsu General, and Doublestar. (The leading Chinese tyre company according to Tyrepress global rankings is ZC Rubber (Hangzhou Zhongce), but it is not listed.) The figures show that Sailun has completed a meteoric rise this year to become the Chinese tyre industry’s stock market leader, with an income of more than 6 billion yuan in the quarter, putting it within reach of the global top 10 tyre manufacturers.
Continue Reading![Nokian Tyres investing 650 million euros in greenfield factory in Romania](https://www.tyrepress.com/wp-content/uploads/2022/11/romania-3387522-scaled.jpg)
Nokian Tyres investing 650 million euros in greenfield factory in Romania
Nokian Tyres’ is investing around 650 million euros in a new passenger car tyre factory in Romania. The new greenfield factory will be located in Oradea in the North-West of Romania, near the Hungarian border. The annual capacity of the factory will be 6 million tyres, with expansion potential for the future. According to an official statement, the site will also house a distribution facility for storage and distribution of tyres. Construction is scheduled to begin in early 2023 and the first tyres are estimated to be produced in the second half of 2024. Commercial tyre production is expected to start in early 2025.
Continue Reading![Hankook Tyre UK award demonstrates ‘growing marketplace leadership’](https://www.tyrepress.com/wp-content/uploads/2022/11/18.-Zoe-Baldwin-Paul-Emery-of-Hankook-accept-2022-NTDA-Tyre-Manufacturer-of-the-Year-Award-scaled.jpg)
Hankook Tyre UK award demonstrates ‘growing marketplace leadership’
Hankook’s Tyre Manufacturer of the Year winning entry at the NTDA Tyre Industry Awards “demonstrated, in great detail, its growing marketplace leadership in product, performance, innovation, productivity and sustainability,” according to NTDA chief executive Stefan Hay. The award was presented to Hankook Tyre UK’s sales director Paul Emery and marketing & communications manager Zoë Baldwin. Emery said: “We are a relatively small team at Hankook and are extremely proud that the UK tyre industry has recognised the strength of the Hankook business. This is truly a team effort and a team award.”
Continue Reading![Skidz award ‘demonstrates just what can be achieved when someone gives you a little bit of support’](https://www.tyrepress.com/wp-content/uploads/2022/10/22.-Skidz-Ltd-receives-NTDA-Overall-Tyre-Retailer-of-the-Year-Award-2022-7-scaled.jpg)
Skidz award ‘demonstrates just what can be achieved when someone gives you a little bit of support’
Falkirk tyre retailer Skidz was named Tyre Retailer of the Year at the Tyre Industry Awards. The family-owned business, a member of the Michelin Quality Centre network, won the Small Tyre Retailer category for the best single location site, before going on to be crowned the NTDA’s overall winner ahead of the Medium Retailer (up to 25 centres) and Large Retailer (national chain) champions.
Continue Reading![Grupo Soledad reports record sales of 353 million euros for 2021](https://www.tyrepress.com/wp-content/uploads/2021/09/insa_turbo_4.jpg)
Grupo Soledad reports record sales of 353 million euros for 2021
Sales turnover fell 15 per cent during 2020 at Iberian tyre retail and distribution specialists Grupo Soledad. However, figures rose 24 per cent in 2021, resulting in record sales of 353 million euros as well as profits of 13.7 million euros – both numbers suggesting that previous figures were a Covid-related blip and that the company is currently on a “V-shaped” recovery trajectory. Grupo Soledad’s previous sales record was 336 million euros in 2019.
Continue Reading![Chinese listed tyre companies release third-quarter results](https://www.tyrepress.com/wp-content/uploads/2022/10/linglong-e1667256349277.jpg)
Chinese listed tyre companies release third-quarter results
At the end of October, several listed companies, including Linglong, Triangle, Sailun, Aeolus, Jiangsu General, Guizhou Tyre (Advance), Doulestar and Sentury, released their operating results for the third quarter. In the third quarter, Linglong produced 17,015,900 tyres and sold 16,623,600 tyres, with a revenue of about 4.37 billion yuan (about 520 million pounds, 600 million euros) and a net profit of about 110 million yuan (about 13.1 million pounds, 15.22 million euros).
Continue Reading![Nokian sells its Russian tyre operation to Tatneft for 400 million euros](https://www.tyrepress.com/wp-content/uploads/2022/10/Tatneft-scaled.jpg)
Nokian sells its Russian tyre operation to Tatneft for 400 million euros
Nokian Tyres plc has agreed to sell its Russian operations to Tatneft PJSC for approximately 400 million euros. The precise final purchase price will be affected by factors including net cash, working capital adjustment and foreign exchange rates. Confirming the news, Tatneft issued a one-paragraph statement saying the deal includes the plant in the city of Vsevolozhsk, in the region of Leningrad and that “the closing of the transaction and the purchase of assets is subject to a number of conditions, including obtaining approvals in accordance with Russian law.”
Continue Reading![Recent Western Europe car tyre production decline ‘similar to financial crisis’ years](https://www.tyrepress.com/wp-content/uploads/2020/04/Bridgestone_Burgos.jpg)
Recent Western Europe car tyre production decline ‘similar to financial crisis’ years
Passenger car and light truck (PCLT) tyre production trends in Western Europe have been scaling down over the long-term. The move to larger production facilities in the comparatively low-cost labour markets in Eastern Europe, or greater reliance on imports from Asia, has seen a steady stream of plant closures and conversions to speciality, short-run production capacity – on in the case of Cooper Tire’s UK plant, for example, one followed by the other – in the region. A new assessment of the most recent three-year period by tyre industry analyst Astutus Research suggests that the overall picture has been of a decline similar to the period following the 2008 financial crisis, which was itself a catalyst for this trend. Yet digging a little deeper into the figures shows several dynamics at play in European PCLT tyre production, including supply chain disruption and spiralling energy costs. For comprehensive analysis of global tyre market trends, a series of reports by Astutus Research are available to buy now in the Tyrepress Reports Shop – click here for more details.
Continue Reading![Four tyre companies release September results](https://www.tyrepress.com/wp-content/uploads/2022/10/cheng-shin-display.jpg)
Four tyre companies release September results
Recently, four Taiwanese tyre manufacturers, Cheng Shin, Nankang, Federal and Kenda, successively announced their September results. In September, Cheng Shin’s operating revenue was approximately NT$8.875 billion (about 244 million pounds, 280 million euros), an increase of 13.03 per cent over the same period last year.
Continue Reading![Linglong signs building contract for Serbia tyre plant](https://www.tyrepress.com/wp-content/uploads/2022/10/linglong-serbia.jpg)
Linglong signs building contract for Serbia tyre plant
Recently, Linglong Tire signed a cooperation agreement with CCCC First Highway Engineering Group. CCCC First Highway Engineering Group will lead the continuing construction of the Serbian project of Linglong International Europe into the plants next phase. The plant produced its first tyre, an Eplus-01 truck and bus radial tyre, on 27 June. It is reported that CCCC First Highway Engineering Group’s main task is to be responsible for the current and subsequent construction projects and to promote the construction progress of Linglong’s European project. The two parties did not disclose the specific cooperation details.
Continue Reading![Deldo: Improved budget tyres an alternative for cash-strapped motorists](https://www.tyrepress.com/wp-content/uploads/2022/10/Deldo-2022-sml.jpg)
Deldo: Improved budget tyres an alternative for cash-strapped motorists
To put the weirdness of 2022 into perspective, consider that tyre wholesalers must contend with the impact of both rising costs and falling costs. And this contradictory situation is but one of a host of challenges in a year that tore up the rulebook. Antwerp-based wholesaler Deldo recently shared its experiences with us.
Continue Reading![GB Tyres seeking growth opportunities in segment diversification, geographical expansion](https://www.tyrepress.com/wp-content/uploads/2022/10/12.-Sukhi-Singh-MD-of-GB-Tyres-UK-Ltd-accepts-2022-NTDA-Truck-Agri-Tyre-Supplier-of-the-Year-Award-scaled.jpg)
GB Tyres seeking growth opportunities in segment diversification, geographical expansion
Already well established as a leading Truck and Commercial wholesale tyre supplier, recent diversification from GB Tyres has seen it increase its presence in the car wholesale market. It is now looking forward to expanding its off-road agricultural, plant, construction and earthmover offerings, the wholesaler tells Tyres & Accessories. While the expansion of its sales into passenger car tyres has required approaching new customers and a slightly different customer base, many agricultural customers are already using GB Tyres for their truck tyre supply. GB Tyres says the extension is therefore a case of “enhancing its offer to the same customers.” It adds that the advantage of offering tyres in an expanding range of segments to an existing large customer base means it can offer a mix of car, truck and any other tyres all on the same delivery, which helps the company distinguish itself from some competitors.
Continue Reading![Serious player: Inter-Sprint focusing on stock solutions](https://www.tyrepress.com/wp-content/uploads/2022/10/Inter-Sprint-Laros-Kraak-sml.jpg)
Serious player: Inter-Sprint focusing on stock solutions
Within Europe’s tyre wholesaling business, Inter-Sprint is a name that needs no introduction. A key player within Global Automotive Investment Holding, Inter-Sprint offers Europe’s largest tyre stocks and employs some 425 people. And as testified by the new warehouses flanking existing buildings at the wholesaler’s main site in Moerdijk, the Netherlands, the company is still […]
Continue Reading![S&P confirms Pirelli as Global Sector Leader In Sustainability](https://www.tyrepress.com/wp-content/uploads/2022/10/noah-buscher-x8ZStukS2PM-unsplash-scaled.jpg)
S&P confirms Pirelli as Global Sector Leader In Sustainability
Pirelli has been named global Leader in Sustainability in the ATX Auto Components sector within S&P Global’s 2022 Corporate Sustainability Assessment, obtaining the highest score in its segment. The results published today by S&P Global – valid for inclusion in the Dow Jones Sustainability indices –highlight Pirelli’s score of 85 points (+8 points above 2021, as announced on 26 September 2022). Pirelli’s result was the highest in the ATX Auto Components sector and significantly higher than the sector average of 24 points.
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