![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![FTC Kuwait to distribute Davanti tyres](https://www.tyrepress.com/wp-content/uploads/2022/10/davanti-kuwait.jpg)
FTC Kuwait to distribute Davanti tyres
Davanti tyres are to be distributed by FTC Kuwait. The subsidiary of KAICO (Kuwait Automotive Imports Co) currently operates five tyre outlets - soon to be seven. The company has business interests in Saudi Arabia and UAE, and is involved in leasing, parts, tyres and lubricants. The strategic partnership is targeting annual sales in the Gulf country’s tyre market of 100,000 units.
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![China’s tyre exports slowed further in September](https://www.tyrepress.com/wp-content/uploads/2022/10/qingdaoport.jpg)
China’s tyre exports slowed further in September
On October 24, China Customs announced the export data. In September, China exported 41.37 million new pneumatic rubber tyres, down 19.4 per cent year-on-year. The total weight of these tyres was 580,000 tons, down 1.4 per cent. While the number and weight of tyre exports declined, the export value still increased significantly compared to last year’s period. In September, the export value of Chinese tyres reached 10.14 billion yuan (about 1.24 billion pounds, 1.41 billion euros), an increase of 9.6 per cent.
Continue Reading![Sentury and former employee go to court](https://www.tyrepress.com/wp-content/uploads/2022/10/sentury-hq.png)
Sentury and former employee go to court
On September 22, the Qingdao court finally ruled on the “property damage compensation dispute” between Sentury Tire and one of its former employees, Wang. It is reported that the lawsuit had a first-instance judgment in 2021. Subsequently, Sentury filed an appeal. In addition to the “property damage compensation dispute”, the two sides also went to court on the “labour dispute” issue, which completed the first and second instance judgments in 2021.
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![Top local players in Europe’s largest market](https://www.tyrepress.com/wp-content/uploads/2022/10/Bohnenkamp-sml.jpg)
Top local players in Europe’s largest market
Readers with an interest in European tyre wholesale won’t have failed to notice a couple of recent developments in Germany. Best4Tires, the firm previously known as Reifen Gundlach, entered into a binding agreement to purchase German tyre wholesaler 1a Berlin-Tyre GmbH in June, and the following month Goodyear announced an expansion of its wholesale presence in southwest Germany with the acquisition of local player Reifen Burkhardt.
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![New moveero website](https://www.tyrepress.com/wp-content/uploads/2022/10/moveero-web-page-industries.png)
New moveero website
Off-highway wheel and hub maker, moveero, has launched a brand-new website (moveero.com), designed to help customers quickly and easily identify the best match for their “specific application and machine requirements”. According to the company, the website has been designed to make “product selection and comparison a straightforward process”.
Continue Reading![Apollo targeting 50% increase in off-highway tyre share: Interview with European president Benoit Rivallant](https://www.tyrepress.com/wp-content/uploads/2022/10/IMG_9083-scaled.jpg)
Apollo targeting 50% increase in off-highway tyre share: Interview with European president Benoit Rivallant
During Apollo Tyres’s recent celebration of 25 years of Traxion agricultural tyre technology, Europe president Benoit Rivallant set an ambitious target of growing the company’s off-highway tyre (OHT) revenue by 50 per cent. In Europe, 16 per cent of total revenue originates from the off-highway tyre sector. This compares with 63 per cent from passenger car tyres, 12 per cent from truck and bus tyres, 8 per cent from spare tyres, 1 per cent from bicycle tyres and 1 per cent from other products. In other words, the 16 per cent originating from off-highway tyre sales is a strategically important figure, 92 per cent of which comes from the agricultural sub-segment. Tyres & Accessories took time out with the company’s European head in order to find out more about how executives plan to achieve such ambitious targets in the context of a broadly challenging tyre market environment.
Continue Reading![The Top 20 online tyre brands 2022](https://www.tyrepress.com/wp-content/uploads/2022/10/adem-ay-Tk9m_HP4rgQ-unsplash-scaled.jpg)
The Top 20 online tyre brands 2022
11 years ago, we published our analysis of the impact of social media and price comparison on the tyre business. Back then in July 2011, Facebook was the number one social network, with 750 million users, of which a third accessed the site via mobile devices. As of July 2022, Facebook has 2.934 billion.
Continue Reading![5 challenges affecting the haulage and transport industry](https://www.tyrepress.com/wp-content/uploads/2022/10/truck-2920533-scaled.jpg)
5 challenges affecting the haulage and transport industry
As the world moves away from the pandemic period, businesses are working on ways of reviving themselves. For instance, the transport companies like Migway have been boosted by the tremendous growth of the e-commerce sector. Urbanisation has also contributed to the improvement of roads previously untraversable. At the same time, driver numbers are down, which means those qualified to drive heavy goods vehicles are in demand. And those factors have led to the labour market for drivers becoming increasingly attractive but also complex.
Continue Reading![Maxxis, Bridgestone investing in India](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Maxxis, Bridgestone investing in India
According to local media sources, both Bridgestone and Maxxis plan to ramp up their activities in India. Maxxis Group intends to invest a further US$100 million over the next five years to capture a 15 per cent stake in the two-wheeler tyre market, while Bridgestone Corporation is looking to increase its production capacity for car tyres by ten per cent next year to meet rising demand from both OEM and aftermarket customers.
Continue Reading![Goodyear Montluçon two-wheel tyre transition completing in early 2024](https://www.tyrepress.com/wp-content/uploads/2022/10/Goodyear-Dunlop-Werk-Montlucon-2-scaled.jpg)
Goodyear Montluçon two-wheel tyre transition completing in early 2024
Following the news that Goodyear is investing in converting its Montluçon into a two-wheel tyre production centre of excellence, company officials have confirmed that, subject to consultation with the relevant employee bodies, Goodyear expects the plans to be “substantially complete by the beginning of 2024”.
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