‘In line’ results leave analysts expecting more from Hankook
Hankook’s second quarter results show that the manufacturer is well-placed to take advantage of the anticipated gradual recovery of replacement markets in the next year and a half. Indeed, the 1.4 per cent increase in revenue growth indicates that the Korean manufacturer is already experiencing some upward momentum, this figure having declined in the previous two quarters. Deutsche Bank analyst Sanjeev Rana commented that the company’s ongoing product mix improvement and falling raw materials costs should combine with the American and European recovery to keep Hankook’s margins “resilient”, while the bank also expects its operating profit to “grow 18 per cent” year-on-year in in the second half of 2013.
Continue ReadingBrembo seeks growth in Americas
Leading European performance brakes brand Brembo is continuing to diversify its global strategy in a bid to tackle sales figures that continue to fall in much of its traditionally strong markets. In the first quarter of 2013, the German and, to a lesser extent based on the relatively good performance of its automotive manufacturing, UK markets were the only two to increase sales, while domestic Italian and southern Europe continued to look weak. However, growing sales in the USA and China are prompting global investment, such as the 115 million euro investment the manufacturer recently announced to expand its US and Brazilian operations. And the company has continued to indulge its penchant for spectacle, with involvement in top-level motorsport series, such as MotoGP and Formula One, and Hollywood blockbusters driving its continued premium brand marketing.
Continue ReadingShandong Yongtai, Treadsetters buy Covpress
China’s Shandong Yongtai Chemical Group, manufacturer of the Durun tyre brand and the DMack tyres used in the World Rally Championship, and UK tyre wholesaler Treadsetters have jointly acquired automotive supplier Covpress. The two companies are believed to have paid £30 million to buy the Coventry-based firm, which employs around 450 people and manufactures body panels for vehicle manufacturers such as Jaguar Land Rover, Nissan and Renault. Chinese and UK media sources report Shandong Yongtai will hold a 70 per cent stake in Covpress and TIA Group company Treadsetters the remaining 30 per cent.
Continue ReadingBrazil increases, extends tariff on Chinese PCR imports
Brazil’s Chamber of Commerce (Camex) has reviewed and extended its anti-dumping duties on passenger car tyres manufactured in China. In late July it published a list of duties to be charged on tyres covered by Mercosul Common Nomenclature (NCM) 4011.10.00, specifically new 65 and 70 series, 13 and 14-inch rim diameter passenger car radials.
Continue ReadingHankook rolls out Australian truck service network
Hankook Tyre Australia has established a national service network for its fleet and other commercial customers. Selected truck and bus tyre dealers have been grouped together to make the Hankook Highway Helpline (HHH), a nationwide emergency network offering help around the clock, every day of the year. Upon receiving a tyre distress call, HHH will dispatch the nearest authorised network dealer to provide roadside tyre assistance. The service centre also has provision to contact the second- and third-closest Hankook back-up dealers if required.
Continue ReadingTsuruno to head Yokohama Asia
Yokohama Rubber Corporation has appointed Koichi Tsuruno president of Yokohama Asia Co., Ltd. Tsuruno begins in this role on 1 August. He retains his position as corporate officer and president of Yokohama Tire Manufacturing (Thailand) Co., Ltd., which he commenced on 1 July.
Continue ReadingHankook continues upward trajectory
Hankook’s results for the second quarter (April-June) of 2013 continue to show steady growth with operating profit up 11.3 per cent and sales up 1.4 per cent year on year. The company achieved a global sales revenue of KRW 1.87 trillion (1.276 billion euro) in the quarter, with operating profit marked at KRW 271.3 billion (185.2 million euro). The company stated that increased sales in the ultra-high performance tyre sector and premium brand equity helped it secure solid sales increases in its major markets.
Continue ReadingBFGoodrich, USW reach agreement
BFGoodrich has joined Goodyear and Bridgestone in reaching a tentative agreement with the United Steelworkers. The tyre maker and union negotiating teams have nutted out a three-year contract covering 2,400 workers at the company’s Tuscaloosa and Fort Wayne plants in the US.
Continue ReadingCST global website launched
Cheng Shin Rubber has unveiled a new global website for its CST tyre brand. The company says it aimed to develop a user-friendly site that features a responsive design, one that allows customers to “seamlessly find the tyre that best suits their passion.”
Continue ReadingTTC promotes wheel safety indicators
TTC is promoting its “Checkpoint” wheel safety indicators to distributors and fleet operators. The latest development is that TTC is offering special size-specific versions of its product. A variety of sizes of wheel nut are commonly referred to as "27mm". However, the sizes actually range from 26.6mm, 26.7mm, 26.8mm all the way to 26.9mm with the larger sizes being fitted to the DAF45 range.
Continue ReadingReports: Cooper Chengshan strike over Apollo acquisition
Workers at Cooper Chengshan, a joint-venture between Cooper Tire & Rubber Company (USA) and Chengshan Group (China), are reportedly on a strike in protest against Apollo’s proposed acquisition of Cooper. If correct the reports could throw up a fairly significant spanner in the works as the trade union which represents workers at what is deemed to be “the largest, most profitable and fastest-growing factory of the eight” plants that come as part of the Cooper deal, Cooper Chengshan, have expressed their opposition to the deal.
Continue ReadingCV trailer market to grow 2% despite weak 1H
Demand for heavy goods vehicle trailers is expected to grow 2 per cent during the course of 2013, despite a weak first six months of the year. Analysts from Clear International have issued a new reports saying as much and forecasting the demand for heavy goods trailers in Western Europe to 2017.
Continue ReadingTriangle’s 2013 global summit exemplifies Chinese globalisation ambitions
The theme of globalisation loomed large over Chinese tyre manufacturer Triangle’s latest Global Business Summit, held in the China Hall of the older Grand Tower of Pudong, Shanghai’s Shangri-La Hotel. While the chairman of the board Ding Yuhua’s conference starting theme speech riffed on the theme with regard to manufacturing processes, employee base and international trends, the presence of delegates from around the world reinforced the message the world’s 16th largest tyre manufacturer’s message – Triangle suppliers from three continents travelled with Tyres & Accessories to the Shangri-La from Pudong International, to underline a point. In the coming year, Ding Yuhua said that Triangle is seeking to “speed up the transformation and upgrade [its] manufacturing to synchronise with the global economy,” while focusing on the environmental standards Triangle now characterises as part of the “mainstream” in the post-REACH, post-labelling landscape – in China as well as the rest of the world. This involves greater investment in green production technology that he says is yielding a “four per cent increase in energy efficiency yearly”.
Continue Reading![Amateurish Bruno clip a viral sensation](https://www.tyrepress.com/wp-content/uploads/2013/07/bruno.jpg)
Amateurish Bruno clip a viral sensation
Back in 2011, Tyres & Accessories brought you news of Bruno, the mastiff cross undergoing ‘therapy’ in New Zealand after his anger issues resulted in the destruction of tyres fitted to two police cars and another vehicle. While we don’t know whether Bruno responded to treatment or if he’s still barking mad, it has come to our attention that a local news report of the tyre-tearing dog has gone viral.
Continue ReadingComment: Explosive action – a life lesson for tyre buying consumers?
To say that June was an interesting month for the tyre industry is something of an understatement. It was explosive - and in at least one case literally so. But the drama of it all offers consumers a challenging life lesson.
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