Reports: 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”.
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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.
Continue ReadingCooper acquisition is a game changer – Apollo MD talks to T&A
With the ink still drying on Apollo Tyre’s agreement to purchase Cooper Tire and Rubber, on 27 June Tyres & Accessories met with Apollo vice chairman and managing director Neeraj Kanwar at the company's new global marketing office in central London in order to get the inside line on the deal, the impending integration and the strategy behind the purchase. In 2010, Apollo's owners, chairman Onkar Kanwar and vice-chairman and managing director Neeraj Kanwar, told the world that the company was aiming to break into the global top 10...at least. At the time this announcement was made you could be forgiven for thinking such a proclamation was either an exercise in hyperbole or in corporate goal setting. And why not? There's nothing wrong with aiming high, as many of the world's fastest growing tyre companies are clearly doing. After all, as the saying goes, “he who aims at nothing hits it”. But with all the speculation that surrounded the company's decision to engage in takeover talks with Cooper at the end of 2012, the fact that the deal has now been agreed arguably isn't as much of a surprise as the speed with which the top 10 goal has been attained. Early indications suggest that the amalgamated Apollo/Cooper will be the seventh largest tyre company on earth. So whats next? The exclusive club that is dominated and fiercely defended by the big five? Or, as is more likely, a period of integration and consolidation while the dust settles?
Continue ReadingChina to impose import tariffs on EU cars?
A report in French financial magazine Les Echos suggests that the Chinese Government is considering imposing an additional tariff on cars imported from the EU. The report was picked up by analysts Morgan Stanley, who suggest that the new tariff could be in response to the recently-announced 11 per cent tariff by the EU on Chinese-made solar panels. ACEA, the EU car association, says that the car tariff could be in place as early as September.
Continue ReadingAutopromotec: 2013 show the largest ever
Autopromotec 2013’s organisers lauded the latest Bologna show, which took place in May and described it as “the largest and most international ever”. This is supported by a record-breaking number of exhibitors and the largest exhibition space ever – that is 1,512 exhibitors from 52 countries covering a total exhibition area of 156,000 square metres (20,000 of which outdoors). Visitor numbers were also huge - 102,536 attended in total, of which 83,594 from Italy and 18,942 from abroad.
Continue ReadingAmiens closure is inevitable, so what’s it mean for the rest?
With no buyers seeking to purchase it, the closure of Goodyear’s Amiens Nord tyre manufacturing facility now looks inevitable. And according to various French news reports, France's government has now faced up to the fact that this means the loss of up to 1,200 jobs. Indeed closure is now the only option on the table after the French Agency for International Investment (AFII) contacted 57 potentially suitable of which just eight said they would be interested. Of these five signed confidentiality agreements and two non-binding offers were presented, but France's Economic Redevelopment Ministry said "after careful examination of the plans put forward," no candidates were in a position to present a binding offer.
Continue ReadingAutopromotecEdu hosts IAAM13 conference
Leading European aftermarket trade associations Aica, Anfia, Airp, Clepa, Egea, Feda, Federpneus, Figiefa met at the IAAM13 conference that ran as part of the AutopromotecEdu section of the recent Autopromotec exhibition. IAMM13 focused on providing companies and professionals operating in the aftersales business some foresight of trends and developments of the aftermarket sector in Europe and a number of strategic countries, such as BRIC (Brazil, Russia, India and China), threreby offering them the opportunity to find new international channels for their sales and marketing activities.
Continue ReadingMaxxis: Sales have grown US$2 billion in five years
Maxxis International has reported another strong year of growth for the 12 months to January 2013. Results from the last financial year show Maxxis tyre sales figures surpassing US$4.5 billion for the first time, up over $2 billion in the last five years alone. The company reports that despite an adverse global economy and substantial investment in research and development, increased manufacturing capacity, its new academy and latest testing facilities, Maxxis has still succeeded in posting net earnings of well over $1 billion.
Continue ReadingTriangle buys 10% share of TYM International
Triangle and TYM International have jointly announced the Chinese tyre manufacturer’s purchase of a 10 per cent share of its UK distributor’s business. TYM International general manager, Steve Eke and Triangle Group board chairman, Ding Yuhua exchanged documents during the Triangle Group’s 2013 Global Business Summit at the Pudong Shangri-La Hotel, Shanghai on 18 May. The purchase is currently subject to ratification by the Commerce Department of the Chinese Government, though both parties are confident that the deal will proceed smoothly. This year marks the tenth anniversary of TYM’s distribution of Triangle passenger car, truck and bus, and off-the-road products and Eke told Tyrepress.com that he was very pleased to have converted “the customer-supplier relationship into a partner relationship.”
Continue ReadingGfK: Central Malaysia PCR sales 1.2 million units in 1Q 2013
Increased affluence and the rise of car ownership is creating demand for passenger car tyres in Malaysia’s booming central region. The latest GfK retail audit report shows that sales of passenger car tyres in the high traffic states of Kuala Lumpur and Selangor have been rising consecutively in the last two years, with the first quarter of this year reporting a surge of 14.6 per cent over the same period in 2012.
Continue ReadingBridgestone Russian plant spells end of supply/demand gap
Following the news that Bridgestone is investing in the construction of a passenger car tyre plant in Russia, market analysts have shared various views on the impact this move will have on the local market. For its part Deutsche Bank took the opportunity to situate the news in the context of wider domestic market development.
Continue ReadingAmiens lawsuit seeks to block Goodyear plant closure
When Maurice Taylor visited Goodyear’s plant in Amiens, France, he claims to have observed workers talking for several hours a day instead of getting busy with the tasks they were paid to do, and when he challenged them about this they replied it was “the French way.” Now the Amiens plant workers are engaging in a behaviour more in line with the American way – they have sued Goodyear Tire & Rubber.
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