Prinx car tyre brand makes European debut in Milan
Prinx Chengshan’s flagship tyre brand has entered the European market in style at a lavish event in Milan, Italy. Hosting tyre distributors and dealers from all around Europe the brand chose the European fashion capital as its launchpad to signify its bullish expectations for the new range, which arrives offering fitments for a comprehensive range of applications, premiumised technologies, and a European marketing strategy openly setting mid-range-plus targets from the off. During a day of driving workshops at Alfa Romeo’s historic La Pista circuit, Tyres & Accessories was able to trial two Prinx tyres fitted to Tesla Models 3 and Y, and Mercedes AMG A Class hatchback and SUV models: the Xnex Sport EV UHP tyre designed for electric vehicle compatibility, and the Quattura 4S all-season tyre. T&A also spoke to several representatives from the brand’s European team about its new products and aspiration to make its mark on the European tyre segment. Look out for full coverage from the event on Tyrepress and in Tyres & Accessories magazine.
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TBC Corporation sells 595 NTB and Tire Kingdom centres to Mavis
TBC Corporation, a leading tyre distributor in North America, has agreed to sell its company-owned retail portfolio to Mavis Tire Express Services Corp. Specifically, Mavis will acquire 392 NTB Tire and Service Centers (NTB) and 203 Tire Kingdom Service Centers (Tire Kingdom). In connection with the deal, Mavis and TBC have entered into a distribution agreement, through which TBC will provide wholesale and tyre distribution for Mavis retail locations. The transaction is expected to close in the coming weeks. Financial terms of the transaction have not been disclosed.
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Airless two-wheel tyremaker Risingsun lists on stock market
On May 16, Risingsun, a Chinese manufacturer of air-free tyres, was listed on the National Equities Exchange and Quotations (NEEQ). The move means the company’s shares can be publicly traded.
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CL Tyres buys Fork Truck Tyres
Fast-growing industrial tyres business, CL Tyres Ltd has bought Fork Truck Tyres Ltd. Founded in July 2019 by Steve Donnithorne, CL Tyres Ltd experienced 10-fold growth in its first three years of business. The acquisition of Manchester-based Fork Truck Tyres by Midlands-based CL Tyres, which also runs centres in locations including Hull and Washington, suggests a national expansion plan.
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Michelin buys Canopy Simulations for its ‘virtual driver’ technology
Michelin has bought UK-based simulation software specialist Canopy Simulations for an undisclosed fee. Since Michelin has been developing dynamic virtual tyre models for the last couple of decades using its Tame Tire software, it appears the plan is to combine Canopy’s “virtual driver” with Tame Tire, taking Michelin’s virtual modelling to the next level.
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Nexen considering US$1 billion US tyre factory
Nexen Tire is considering eight southeastern US states as the possible location for a new $1.3-billion tyre factory project. According to stock market filing published on 18 May, Nexen is set to make a decision on the project by the end of 2023, with a view to getting the factory operational by 2028-2029.
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Minimise costs with scheduled tyre maintenance, says ATS Euromaster
Fleets are continually looking for ways to minimise their outgoings in the current economic climate. Longer lead times result in fleets running vehicles for extended periods, and many are coming under pressure to contain costs. Longer lifecycles also influence tyre replacement, and ATS Euromaster sales director Jason Chamberlain thus emphasises that it’s in “fleet managers’ best interests to implement a more planned approach to tyre maintenance in order to minimise costs.”
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Kumho gaining ground in Europe
Kumho Tire shares that its performance in the all-important European market has recently shown strong growth. First-quarter sales for 2023 were up 92% on those of the same period last year at €165 million, while the quarter-on-quarter figures rose by a solid 15%. Impressive as these results are, the company views them as “just the first stage” in a period of sustained investment which it anticipates will result in ongoing growth within the region.
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Giti Tire, WS Racing, Sparco set to sparkle at Nürburgring 24-hour race
Giti Tire has described its visit to the 51st ADAC TotalEnergies 24-hour Nürburgring race as “a huge weekend” for its motorsport division. The manufacturer is supporting its all-female racing team again and will ramp up its new brand building partnership with Sparco. This means that as well as participating in the event, Giti will have its broadest selection of marketing activities at the event. Stefan Brohs, marketing director - Europe for Giti Tire, promises a “full communication strategy” designed to launch the “Giti – Powered by Sparco” slogan for in-person and online viewers.
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Prinx to launch European range on former Alfa Romeo grounds in Milan
Prinx Chengshan will celebrate the European launch of its new flagship tyre brand Prinx next week in Milan. The brand’s tyres will be available for guests to try at La Pista, an historic racetrack located on the former grounds of Alfa Romeo. The three-day event will give delegates insights into Prinx’s brand strategy and market ambitions. Europe CEO Thomas Wohlgemuth is looking forward to the event and promises an entrance that will set out the manufacturer’s stall for its developing European business. “The entire setting is super. Prinx is a force to be reckoned with in the future, true to our brand claim ‘Leave a mark’”.
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Despite no investments, Pirelli sales rise in Russia
Departing a profitable market isn’t for everyone: Pirelli & C. reports that Russia accounted for “about 3.5 per cent” of its global revenues of 1,699.7 million euros in the first quarter of 2023, which means the tyre maker Q1 2023 revenues in Russia amounted to approximately 59.5 million. Not a colossal sum when compared with total sales, but nonetheless more than Pirelli made in that market in the first quarters of the two previous years.
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Continental debuts new ESC brake system
Tyres are important when stopping a vehicle, and brakes are too. Continental has both areas covered and has announced a world first for the latter: The company has commenced series production of its new generation of brake systems for Electronic Stability Control (ESC), the MK 120 ESC. The first OEM partner to receive the system is Chinese car maker Changan ahead of supply to a “European car manufacturer” later this year.
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Golden Power: Pirelli plans to postpone Board nomination
The Board of Directors of Pirelli & C. SpA has received an update from shareholder China National Tire & Rubber Co., Ltd (CNRC) regarding the Golden Power Procedure that Italy’s government launched in response to the renewal of a Pirelli shareholder agreement signed in May 2022. This agreement is scheduled to take effect upon publication of the call for a shareholder meeting on 29 June 2023, however, CNRC informed the Board of Directors that the final provision of the Golden Power Procedure may be issued after the deadline for presenting lists for the next Board of Directors renewal.
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Doublestar breaks ground at Cambodia plant site
On 9 May, numerous regional and company dignitaries attended the groundbreaking ceremony for Doublestar Tire’s new factory in Cambodia. Doublestar (Cambodia), a joint venture with UBE Development Co. Ltd., aims to meet growing international demand for high-performance radial tyres. The 400,000 square metre plant will have capacities to produce 7 million PCR tyres and 1.5 million TBR tyres annually.
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Fleets invited to participate in Goodyear survey
Goodyear is gathering information for its annual Sustainable Reality Survey and invites European transport fleets to participate for the third consecutive year. Fleets interested in participating can do so until 21 July.
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