Maxxis developing plans for India tyre plant
Talking to Tyrepress about its latest expansion project, Maxxis chairman Tsai-Jen Lo has visited the chief minister of the Indian state of Gujarat in order to finalise plans for Maxxis’ first plant in India. The latest plant, joining ten other Maxxis plants located throughout Asia, is due to be ready for operation in early 2017.
Continue ReadingTIA inducting Glen Nicholson as president
Tire Industry Association (TIA) will hold its Annual Membership Meeting on 2 November where Glen Nicholson will be inducted as the associations new president. Nicholson will serve a one-year term.
Continue ReadingReifen China 2015 ready to go
Organisers of the Reifen China Asian tyre market trade fair report that the show is “ready to go” and about to kick off. The event runs from 11 - 13 November 2015 in Shanghai’s New International Expo Centre. Reifen China is organised by Messe Essen and the China United Rubber Corporation who say they are expecting around 100 tyre, and retread-related exhibitors from China, Germany, India, Italy, Japan, Malaysia, Spain and Russia.
Continue ReadingYokohama release Chelsea tyre
The Yokohama Rubber Co., Ltd. is to launch the “BluEarth-A AE50 Chelsea FC Edition” featuring the Chelsea Football Club logo on the sidewall. Following the product’s release in Japan on 29 October, the tyre will be launched gradually in Europe, Asia and South America, with approaches varying from country to country. According to Yokohama, the Chelsea tyre will be available in three sizes: 225/45R17 94W, 205/55R16 91V and 195/65R15 91H.
Continue ReadingMaxxis confirms India tyre factory plans
Maxxis has confirmed that Maxxis/Cheng Shin company chairman Tsai-Jen Lo recently visited the chief minister of the Indian state of Gujarat, finalising plans for Maxxis’ first plant in India.
Continue Reading96% of Pirelli shares purchased by Marco Polo
Following the re-opening of its well-reported takeover offer, Marco Polo Industrial Holding S.p.A. now owns 95.969 per cent of the ordinary share capital of Pirelli. The news suggests the takeover of Pirelli is now virtually complete and Marco Polo (which itself is owned by China National Chemical Corporation, China National Tire & Rubber Co., Ltd., Camfin S.p.A., Coinv S.p.A. and Long-Term Investments Luxembourg S.A. (which is controlled by Rosneft) is now the shareholder of basically all of Pirelli’s stock. The latest developments have taken place in the two weeks since Marco Polo became Pirellis majority shareholder on 8 October.
Continue ReadingHercules Tire to highlight new products at SEMA
Hercules Tire will showcase its latest tyres at SEMA 2015 in Las Vegas. Located in Booth #43079, the company will feature new consumer lines, such as the ultra-high performance Hercules Raptis R-T5, new medium truck tyre offerings, and new sizes in popular existing Hercules products.
Continue ReadingVW reports first quarterly loss in 15 years
The Volkswagen Group has reported third quarter 2015 pre-tax losses of 2.522 billion euros as a result of the emissions scandal the firm is embroiled in. The losses are attributed to 10.2 billion euros of special charges in the first nine months of the year. In addition market observers are concerned about the firm’s continued corporate policy.
Continue ReadingSumitomo Rubber holds opening ceremony for Turkey factory
Sumitomo Rubber Industries (SRI) has held an official opening ceremony for the group’s new tyre factory in Cankiri, Turkey, named Sumitomo Rubber AKO Lastik Sanayi ve Ticaret AS (SAT). The Falken brand manufacturer will use the new facility to supply both the local Turkish market, which is benefitting from the country’s steady economic growth, and the geographically adjacent EMEA regions.
Continue ReadingOmni United buys Interstate Tire Distributor
Omni United Pte. Ltd. has acquired Interstate Tire Distributor (ITD), a US tyre wholesaler based in California, USA. Further details of the transaction have not been disclosed. According to Omni United, the acquisition of ITD “substantially accelerates the global growth strategy” of the company.
Continue ReadingKumho’s US plant nearing completion
Kumho’s first North American tyre plant is due for completion in early 2016. The facility is sited in Macon, Georgia, close to Atlanta Airport, which Kumho explains is the busiest in the world, and under 180 miles from the international port of Savannah. Kumho aims to strengthen its position globally and in the key North American market, and has invested $420 million in the factory so far. When complete, the building will cover 21 acres, and produce around four million tyres per annum. Around 90 staff are already engaged on site, a figure that will rise to 400 by the time of next year’s opening.
Continue ReadingApollo aiming for Jordan market share
Apollo recently opened two Apollo Zone branded retail outlets- in Amman, Jordan. While one of the Apollo Zones was inaugurated by HE Anil Trigunayat, Ambassador of India to Jordan, the other one was inaugurated by Sujay Srivastava, head, Apollo Tyres Middle East and the Proprietor, The Ideal for Import and Export, Wael Qawasmi.
Continue ReadingBridgestone buys large US tyre retailer Pep Boys in US$835 million deal
Bridgestone Americas, Inc. is to buy large US tyre retailer The Pep Boys – Manny, Moe & Jack in an US$835 million all-cash deal. The transaction will be executed by Bridgestone Retail Operations, LLC (BSRO), a wholly owned subsidiary of Bridgestone Americas and follows the signing of a merger agreement under which BSRO will pay $15.00 per share, a price that represents a premium of 23 per cent over Pep Boys’ closing price of $12.15 on 23 October 2015 and a premium of 62 per cent over Pep Boys’ pre-buyout speculation price of $9.25 on 19 May 2015.
Continue ReadingRen Jianxin comments on Pirelli acquisition
Newly inaugurated Pirelli president, ChemChina’s Ren Jianxin, recently told Corierre della Sera of his pride in his company for completing the recent acquisition of Pirelli and his personal satisfaction to be working with Marco Tronchetti Provera. According to the interview, which was published in the Italy daily newspaper on 22 August, the acquisition and subsequent appointment is a great moment for ChemChina and for Ren himself it is a great honour to be Pirelli president and to work with Marco Tronchetti Provera, who he sees as an older brother and a teacher. He also revealed details of the wider strategy behind the investment.
Continue ReadingConti testing Gordonind solid tyre press
Gordonind, the equipment manufacturer, has announced that its Mini Mobile Press for solid tyres is being tested by Continental in Europe. Writing in a statement, the company said: “Gordonind are delighted to announce that the prestigious Continental Commercial Specialty Tires (CST) are now testing the Mini Mobile Press In Europe”. The company explained that the tests are being carried out “with a view to improving and enhancing mobile solid tyre service”.
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