Icahn returns with higher Pep Boys offer
The bidding war for The Pep Boys – Manny, Moe & Jack has entered a new round, with Icahn Enterprises L.P. offering an extra dollar per share to acquire the US automotive aftermarket retail and service network – a total of around US$56 million more than the offer it made earlier this month. This higher figure has found favour with the Pep Boys Board of Directors – after consultation with legal and financial advisors it determined on 20 December that Icahn’s proposal to acquire Pep Boys for US$16.50 per share in cash constitutes a ‘Superior Proposal’.
Continue Reading![Yokohama factory reaches quarter century, 80 million tyre mark](https://www.tyrepress.com/wp-content/uploads/2015/12/PR15-YTC-25th-Anniversary-Tire-Center.jpg)
Yokohama factory reaches quarter century, 80 million tyre mark
Yokohama Rubber’s Salem factory in the USA recently reached two milestones – its 25th anniversary and the production of 80 million tyres. Tetsuro (Tex) Murakami, president of Yokohama Tire Manufacturing Virginia, LLC, described these as “two very significant achievements for Yokohama, particularly in the US.
Continue Reading![Nizhnekamsk SSC plant produces 3 millionth tyre](https://www.tyrepress.com/wp-content/uploads/2015/12/kama.jpg)
Nizhnekamsk SSC plant produces 3 millionth tyre
Russia’s Tatneft reports that its ‘Nizhnekamsk SSC Tire Factory’ has produced its three millionth solid-steel cord tyre. Commercial tyre production began at the plant in April 2010, and today the Nizhnekamsk facility manufactures 66 types of truck and bus tyres, including products sold under the Kama brand name and 23 tyre specifications made for Continental on an offtake basis. Nizhnekamsk SSC is Tatneft’s largest tyre plant.
Continue Reading![Tyrexpo Africa pre-registration open](https://www.tyrepress.com/wp-content/uploads/2015/12/Tyrexpo-Africa.jpg)
Tyrexpo Africa pre-registration open
Pre-registration for Tyrexpo Africa 2016, which takes place at the Sandton Convention Centre in Johannesburg between 8 and 10 March, opened on 7 December 2015. The show is targeted at companies focusing on the sourcing of tyres, tyre repair and maintenance equipment, and tyre accessories for purchase within the next three months.
Continue Reading![BKT preparing for 51-inch giant tyre production at $500 million plant](https://www.tyrepress.com/wp-content/uploads/2015/12/Bhuj-power-sml.jpg)
BKT preparing for 51-inch giant tyre production at $500 million plant
The northwest region of India’s Gujarat state is home to large areas of desert where you may encounter thorny shrubs, packs of wild animals – and a state-of-the-art US$500 million tyre factory. On a 312 acre site, Balkrishna Industries Ltd. (BKT) has erected one of the largest off-road tyre plants in the world, a facility capable of producing 325 tonnes of tyres per day. Tyres & Accessories visited in early December.
Continue ReadingConti won’t rule out new concept all-season tyre
Speaking at the end of a presentation at Continental’s annual ContiTechnikForum, Prof Dr Burkhard Wies, Conti’s head of Tire Line development worldwide commented on the development of the winter and all-season tyres as a sector. This is nothing new. Wies has, of course, tracked the market for some time and has commented on this subject before. What’s different now is that, during the course of 2015, the sector broadened from three segments (winter, all-season and summer tyres) to something more like four (winter, all-season concept I, all-season concept II and summer tyres).
Continue Reading![Sentury internationalising with US tyre factory investment](https://www.tyrepress.com/wp-content/uploads/2015/12/sentury_builder.jpg)
Sentury internationalising with US tyre factory investment
Step off the plane and into a car at Qingdao airport and it won’t be long before you see a Sentury Tire billboard. While this particular Chinese tyre manufacturer isn’t a global player, it is rapidly internationalising and is selling millions of tyres in Europe (many of which end up in the UK). The firm is expanding very quickly and recent high-profile appointments and off-shore factory investment announcements suggest the firm is well and truly on a growth path. Towards the end of 2015, Tyres & Accessories met with export sales manager Hellen Yang and Davanti vice-general manager Wilson Zhang for a tour of the firm’s large and very modern factory near Qingdao airport.
Continue Reading![Rosava doubles European tyre sales in 2015](https://www.tyrepress.com/wp-content/uploads/2015/12/rosava-plant.jpg)
Rosava doubles European tyre sales in 2015
Ukraine-based tyre maker PJSC Rosava reports that half the tyres produced at its Bila Tserkva facility are now exported to other markets, and says exports to certain key markets have markedly increased during the past year. Exports to the Middle East have risen 400 per cent since January 2015, while tyre shipments to Europe increased 100 per cent during that period. Deliveries to OEM customers have grown 44 per cent since January, the tyre maker added.
Continue ReadingMRF to build new tyre factory
Tyre maker MRF Ltd reportedly plans to build a new manufacturing facility in India’s Gujarat state. According to a state government official quoted in The Times of India, the company is looking at a greenfield site in Bharuch.
Continue Reading![Translogik signs probe deal with ContiTrade](https://www.tyrepress.com/wp-content/uploads/2015/12/TLG1-Probe-Showcase-1-e1450277599887.jpg)
Translogik signs probe deal with ContiTrade
Translogik has signed an agreement with Continental Reifen Deutschland GmbH to supply the German tyre manufacturer’s ContiTrade unit with the new iOS compatible version of its TL-G1 Tyre Inspection Probe. 85 kits have been ordered to date as the deployment commences, with significant further orders anticipated.
Continue ReadingMembat supports sub-7’C winter tyre message
Mediterranean tyre brand Membat is encouraging drivers to change their tyres before the Christmas holidays. “Ideally, November is a good month to take a look into the car and change to winter tyres. But it is never too late if you haven’t done it already, you can still change your tyres before the upcoming holiday season,” company representatives wrote in a statement on the subject.
Continue ReadingTruck tyre imports halved as Indian manufacturers reduce prices
Imports of truck and bus radials into India fell by almost a half during the June to November period. Quoting figures from the All India Tyre Dealers Federation (ATMA), business daily The Hindu writes that the number of TBR tyres imported into the country declined from 106,700 units in June to just 54,175 units in November; it reports that the decline in imports followed price cuts of eight to ten per cent that were introduced by domestic tyre manufacturers.
Continue ReadingNokian to appeal 87 million euro additional tax bill
Nokian Tyres is to appeal a tax adjustment for the years 2007 – 2010, meaning the firm must pay an extra 87 million euros. 55 million euros of the figure are additional taxes and the remaining 32 million euros punitive taxes. Payment must be made in January 2016.
Continue Reading2015 West European trailer market up, more growth expected
In 2015 the West European trailer market got off to a strong start with registrations of new trailers up 14.8 per cent in the first half and 8.1per cent growth forecast for the second. Overall then, the market will be stronger than anticipated at the beginning of the year, according to Clear International’s analysis.
Continue ReadingContinental invests to take the pong out of tyre production
The team at Tyrepress.com can testify that tyre manufacture is an ‘aromatic’ process, therefore we are pleased to learn that Continental AG has completed €10.5 million worth of investments to reduce the odours resulting from production in its Timisoara plant in Romania.
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