Amtel Completes Vredestein Acquisition
Amtel Holdings Holland NV has completed its acquisition of Vredestein Banden BV from Vredestein Investment Consortium (VICO) for 195.6 million euros in cash. Amtel says it plans to use the opportunity to expand its global operations in Europe, Asia, the former Soviet Union and North America. Combined production capacity will now amount to around 22 million tyres a year.
Continue ReadingPutting the UK Market in the Picture
This year Trelleborg is 100 years young. The company’s name is fairly well recognised in the UK market but there is still room for improvement. Ask where the company comes from, what it’s up to on the UK market, or how Trelleborg Wheel Systems (TWS) fits into the picture and the response is often vague. However the manufacturer is addressing these brand awareness issues and is beginning to focus more and more on its agricultural division as well as marketing itself as a specialist in agricultural tyres. Tyres & Accessories spoke to Ian Gillespie, managing director of Trelleborg Wheel Systems UK, to discern its UK market approach.
Continue ReadingATS/CV Show
Last year some 29, 000 business visitors flocked to the combined Automotive Trade Show and the Commercial Vehicle Show. After a strong start in 2004, the ATS and CV show now has the support of market leaders across the entire aftermarket. With exhibitors and visitors expected from all sectors; garage, body shop, fast fit or factor, there will be a range of new products to see and try. Organisers say there is no longer any doubt that combining the two exhibitions was the right thing to do - Tyres & Accessories will be there to see if they are right.
Continue ReadingHigh Performance Tyres
The growth of high performance tyres in the UK is outpacing the rest of Europe. V-Z rated tyres have grown 15-20 per cent in the last year. However the sector has, in the past, been largely led by OE fitment and reserved for the main players. How well are second line and budget brands competing in the aftermarket? Tyres & Accessories looks at how tyre manufacturers are extending the boundaries and what exactly is possible when it comes to upgrading tyres.
Continue ReadingTRIB Membership Reaches 430
(Akron/Tire Review) Trojan Tyres in Australia and Sousa & Companhia LDA from Portugal have joined the Tire Retread Information Bureau (TRIB), giving the organization 430 total members. ”We are now at 430 members in over 30 countries, which is the highest we have been in years,” said Harvey Brodsky, TRIB’s managing director. “As our promotional materials about retreading and tyre repairing continue to be circulated to the trucking and tyre media worldwide, more and more retreaders and tyre dealers who sell retreads are beginning to appreciate the value of TRIB membership.
Continue ReadingShell Joins Shanghai Automotive in Chinese Maintenance JV
(Akron/Tire Review) The Royal Dutch/Shell Group said it has teamed up with Shanghai Automotive Group Co to launch a car maintenance service for motorists in China. The 50-50 joint venture, called Anji Jiffy Lube Automotive Services Co Ltd, will build a network of fast lube service outlets modeled on the Jiffy Lube chain in the US. It will invest around $23 million for the project, which will initially involve 10 pilot outlets in Shanghai within the first year of operation. Anji Jiffy is targeting to open more than 600 branches by 2015 in China, which currently has around 23 million vehicles on the road. In terms of new car sales each year, China is now the third largest in the world, after the US and Japan.
Continue ReadingTreadways’ Dan Wire to Retire
(Akron/Tire Review) Dan Wire, well-known CEO and chairman of Treadways Corp, has announced that he will retire in early 2006. Mr Wire, who said he will remain as an advisor/consultant to Sumitomo Corporation of America and Treadways until April 2008, will retire effective at the end of Treadways’ next financial year on 31 March 2006.
Continue ReadingWheel Manufacturing in the UK
It would be something of an understatement to say that high raw material costs, the weak dollar and unprecedented competition from the Far East is affecting UK alloy wheel manufacturing. But, in the cases of the selection of companies that Tyres & Accessories spoke to, it is more a question of ingenuity triumphing over adversity. So, in the face of such pressing circumstances, how are UK manufacturers holding firm? Work smarter, not necessarily harder, they say.
Continue ReadingToyo Exhibits at “Auto Shanghai”
Toyo Tire and Rubber Co and president: Yoshio Kataoka are exhibiting the company’s products at the seven-day “Auto Shanghai 2005” at the Shanghai New International Expo Centre. Toyo say it will use this show to highlight its Proxes series, including the Proxes CT01, T1R and S/T tyres. Additionally, Toyo Tire says it plans to stimulate imaginations at the show with forwarding thinking products including the company’s Duraflat ‘run-flat’ product, along with automotive anti-vibration rubber and the Active Control Mount. In addition Toyo Tire representatives have said that the company sees the exhibition as an important opportunity to boost its brand image in the Chinese market.
Continue ReadingCheap Imports and High Costs Forces Indian Tyre Firms to Downsize
(India/Rubber Asia) Cheap imports from China and to a lesser extent from Thailand and South Korea, coupled with rising raw material costs are posing a serious challenge to the Indian tyre industry, Apollo Tyres chief operating officer Mr Neeraj Kanwar has said.
Continue ReadingTread Rubber Shipments to Grow This Year: RMA
(Akron/Tire Review) The Rubber Manufacturers Association’s (RMA) Tread Rubber Market Analysis Committee has reported that shipments of tread rubber will grow in 2005 to represent approximately 17 million retreaded tyres in the US. This will be the third consecutive year that shipments have increased, the committee noted. “Strong demand for commercial tyres will result in a 2.7 per cent increase in tread rubber shipments for the year,” the RMA also said. “This is nearly double the 1.5 per cent growth seen in 2004 shipments.” Growth will continue through 2007 at an annual rate of 1.5 per cent, the association forecasted.
Continue ReadingAutomechanika Asia ‘A Success’
Feedback from the fourth Automechanika Asia trade fair, held in Kuala Lumpur in early April, has been voted a success by visitors and exhibitors. There were 126 exhibitors from 17 countries (Australia, France, Germany, Hong Kong, India, Iran, Italy, Korea, Malaysia, Netherlands, Philippines, PR China, Singapore, Taiwan, Thailand, UK and USA).
Continue ReadingJP Morgan Analysts Up Cooper’s Rating
(Akron/Tire Review) JP Morgan analysts have upped their estimates for Cooper Tire & Rubber Co and upgraded its rating to “neutral.” The analysts said Cooper is benefiting from improved tyre pricing in the US and that its first-quarter results were in line with estimates. However, the company’s share price has depreciated by 20 per cent year to date, the analysts noted. Cooper’s EPS estimates for 2005 and 2006 were increased from $0.33 to $0.37 and from $0.50 to $0.70, respectively.
Continue ReadingYokohama Launches New European Subsidiary
At the beginning of April, Yokohama Rubber Co, made its Europe Office in Dusseldorf, Germany, a subsidiary called Yokohama Europe GmbH. Yokohama Europe will oversee Yokohama’s European marketing and sales strategies. According to the company, the move is part of efforts to strengthen Yokohama’s marketing strategy by more closely managing local operations. The new company will help reinforce sales by concluding comprehensive contracts with leading store chains around Europe and by accelerating original equipment marketing to European automakers. Yokohama now has sales companies in 10 countries in Europe - in the UK, Italy, Switzerland, Sweden, Germany, Austria, Denmark, Belgium, Spain, and Russia.
Continue ReadingBeru Sales Increase 9 per cent
Preliminary full year figures show that Beru AG increased total sales revenues by 9 per cent in the year ended 31 March 2005. Meanwhile the company conceded that sales of tyre pressure monitoring systems (TPMS) failed to meet expectations. Beru’s 9 per cent sales figure fell just short of the company’s growth target for the 2004/2005 year. Beru had aimed to achieve 10 per cent growth during the course of the year.
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