Triangle investing in Russian tyre production plant
Various news sources are reporting that leading Chinese domestic tyre manufacturer Triangle Tire is taking its international operations to the next level with the investment of some 250 million euros in a new tyre factory in the Western Russian Republic of Bashkortostan. The unconfirmed reports suggest that the new plant will be built in one of two areas near Sterlitamak and that the government is offering Triangle a subsidy that will save the company as much as 10 years’ property tax.
Continue ReadingManchester United names Apollo official tyre in UK and India
On 21 August, Apollo Tyres signed a three-year partnership with Manchester United, which sees the company named as the official tyre of the world-famous football team across both the UK and India. Details of the investment associated with the deal have not been released. What we do know is that as well as access to player appearances in both countries the company will be making the most of its association with Man U in online advertising as well as its marketing and point of sale material. In addition, in a development of its ‘go the distance’ philosophy, Apollo Tyres will create football-based play zones in local communities in the UK and India; these will feature recycled rubber and encourage healthy lifestyles among youngsters.
Continue ReadingApollo a Man U regional partner
It was announced today that Apollo Tyres is now Manchester United’s Official Tyre Partner in the UK and India. Tyres & Accessories was present at the deal’s signing at the club’s Aon Training Complex in Carrington and will report full details; the basics are that the three-year agreement will, amongst other things, see the two parties participate in a “joint community commitment to encourage healthy lifestyles and develop sporting skills in young people.”
Continue ReadingTornel operation gives JK Tyre quarter profit a boost
In its financial results for the March to June quarter – the first quarter of its current financial year – JK Tyre posted a net profit of Rs 540.4 million (£5.7 million), a year-on-year increase of 265.9 per cent. Quarter net sales came to Rs 18,669.4 (£196.0 million), 3.3 per cent higher than in the first quarter of 2012.
Continue ReadingYHI adds Proton OE supply to Malaysia factory output
YHI reports that its expanding Malaysia factory has gained some new OE deals including one with Proton as part of its strategy to grow its aftermarket and OEM businesses in Malaysia and wider region. According to YHI, the contract is to supply alloy wheels to Proton for its Satroa Meo R3, Global Small Cars and Saga FLX models. This order of alloy wheels will be manufactured at the Group’s Malaysia plant.
Continue Reading‘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.
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