Pirelli reports sales and profits up nearly 20% in Q1
Pirelli has reported a marked increase in both sales revenues and pre-tax profits (EBIT), which were up 18.4 per cent and 19.6 per cent respectively. As a result of the increase, first-quarter 2021 revenues totalled 1,244.7 million euros. Meanwhile, the proportion of sales generated by so-called high value products now accounts for 72.6 per cent of total revenues, up 3 basis points compared with the first quarter of 2020.
Continue ReadingBKT: People & business safe in India
Off-highway tyre specialist BKT reassures its partners and customers that, despite the worrying news from India of late, it has worked hard to protect both its workforce and production. In response to the messages of concern the BKT team in India have received from around the world, the tyre maker expresses thankfulness that so many people have been in contact and are worrying about people’s health and safety.
Continue ReadingGermany: Goodyear cancels public holidays to clear OEM tyre backlog
Germans can forward to a number of public holidays in the coming weeks, but part of the workforce at the Goodyear Dunlop tyre plant in Hanau won’t be taking these days off. Local media sources report that the plant is responding to production backlogs by declaring the Ascension, Pentecost Sunday, Whit Monday and Corpus Christi holidays to be “compulsory work days” at the Hanau facility.
Continue ReadingTomohiko Masuta appointed managing director of Falken, Sumitomo Rubber Europe
Tomohiko Masuta has been named as managing director of both Falken Tyre Europe GmbH and Sumitomo Rubber Europe GmbH. Masuta joined Sumitomo Rubber Industries in 1985, first gaining experience in the Product Development department. In the 1990s, he moved to the Original Equipment (OE) area of the business before being dispatched to support the development of the Dunlop brand in European countries. In 2015, he was appointed general manager of OE Tyre Business for SRI, with his most recent role being general manager of the Automotive System Division. In his new appointment, Masuta will oversee the SRI group companies in the EMEA region and Falken businesses in Europe and will drive the growth of OE customers within the region.
Continue ReadingSinochem Holdings established through ChemChina, Sinochem restructuring
The restructuring of Sinochem Group Co., Ltd. and China National Chemical Corporation Ltd. (ChemChina) has resulted in the establishment of a new entity, Sinochem Holdings Corporation Ltd. (Sinochem Holdings). As of 8 May 2021, both Sinochem Group and ChemChina became wholly-owned subsidiaries of the new state-owned enterprise, which is said to be the world’s largest chemical conglomerate.
Continue ReadingBrembo reports 17.2% increase in Q1 revenues
Leading brake manufacturer Brembo has reported a 17.2 per cent increase in first-quarter 2021 revenues to 675.1 million euros. According to the company, the figure is even higher (+20.9%) where foreign exchange effects are considered on a basis. During the same period pre-tax profits (EBITDA) amounted to 135.6 million euros, which equates to a margin of 20.1 per cent (EBITDA). Net profits for the first quarter stood at 61.4 million euros.
Continue ReadingBrembo buys J Juan for 70 million euros
At the end of April, Brembo agreed to buy 100 per cent of J.Juan Group, a Spanish company specialising in the development and production of motorbike braking systems, for 70 million euros. The acquisition is expected to close in the second half of 2021 following regulatory approvals.
Continue ReadingHankook goes global with Smart Touring AL22
The Hankook Smart Touring AL22 is specifically designed for bus and coach applications, and Hankook Tire & Technology is selling the tyre in all major global markets. After its launch in Europe, North America and the Middle East, Hankook is now introducing the Smart Touring AL22 in Asia.
Continue ReadingCITEXPO postponed until 2022
The18th China International Tire and Wheel Expo (CITEXPO) 2021, which was previously scheduled for 16-18 August 2021 has been postponed to 2022 as a result of the Covid-19 pandemic. The specific date for the 2022 edition will be announced later and an online equivalent will still be offered in 2021.
Continue ReadingCooper will pay 197th consecutive dividend…probably
With the confirmation of its 197th consecutive quarterly dividend (announced on 6 May 2021), Cooper Tire & Rubber reiterated its position as one of the most consistent dividend-payers out there. However, this time the normally prosaic dividend payment announcement statement was spiced up by a single condition.
Continue ReadingData-driven road safety: Michelin teams up with Arity
Michelin is partnering with Arity, a mobility and data analytics company founded by American insurance company The Allstate Corporation, to develop data-powered solutions for transportation departments and city authorities, with the aim of improving road safety across the USA. This partnership will combine the expertise of Michelin Driving Data to Intelligence (DDI), who are the Michelin Group’s in-house data analysis boffins, with Arity’s database. This database, which contains nearly 100 million consumer connections, is said to be the largest repository of driving behaviour data in the world.
Continue ReadingTRIB partnering with Tyrexpo Asia – Inter-Sprint & Tyreworld exhibiting
Tyrexpo Asia 2021 is taking place in Singapore between 17 and 19 November, and event organiser Tarsus South East Asia shares that US-based association the Tire Retread & Repair Information Bureau (TRIB) is partnering with the event. Tarsus has also announced the participation of two further exhibitors, Dutch wholesaler Inter-Sprint and German online tyre sales service Tyreworld (B. Fuhrmann Einzelhandel GmbH).
Continue ReadingFAW honours Linglong Tire
Linglong Tire won three awards at the FAW 2021 Supply Chain Partner Conference, which took place in Changchun, China on 15 and 16 April. FAW Group honoured the tyre maker with the Collaborative Innovation·Qizhi, R&D Collaboration and Excellent R&D Supplier awards.
Continue ReadingAdvantex SUV TR259 marks significant step forward for Triangle
With SUV tyres the fastest-growing replacement tyre segment during the last decade, branching out in this area has been one of the main targets of Triangle’s ongoing product development strategy. The introduction of AdvanteX SUV TR259 therefore represents a big leap forwards for Triangle towards high-quality and high-value SUV customers.
Continue ReadingBridgestone Americas expands leadership roles
Bridgestone Corporation reports that its North and Latin American subsidiary is expanding several key leadership positions in order to strengthen its core tyre business and to accelerate the execution of its sustainable mobility solutions strategy. The changes will take effect 1 June.
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