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Buying tyres on tick is nothing new across the pond, but a newly-announced deferred finance scheme from Blackcircles.com is said to be a UK first. The online tyre retailer says its ‘buy now pay later’ offering will enable motorists “feeling the pinch in the lead up to Christmas” to avoid the risk of driving on worn, potentially dangerous tyres. Tyres can be obtained now, with payments deferred for six months.
Bridgestone is continuing its youthful “reinvigoration” of the Firestone brand through a musical retail promotion. The ‘Rock On Then Roll Out’ sales campaign runs until November 30, with more than £100,000 in iTunes vouchers and a chance to win a trip to The Brit Awards on the table. Firestone increased European activity has so far […]
Bridgestone secured “significant new fleet business” at the NEC’s Euro Bus Expo 2014, the company states. The tyre manufacturer said it had demonstrated its “flexible tyre service”, and “consistency of supply”, rather than talking solely about tyres. In showing such features as maintenance and support programmes, provision of retread products and simplicity of invoicing, Bridgestone’s fleet operations manager Matt Millington said that the Euro Bus Expo presence could mark the beginning of an exciting new chapter for the bus and coach team.
Bridgestone Americas has opened its giant off-road radial tyre facility in Aiken County, South Carolina. Kazuhisa Nishigai, COO and board Member of Bridgestone Corporation, and Gary Garfield, president and CEO of Bridgestone Americas, were joined at a grand opening ceremony for the 140,000 square metre (1.5 million square feet) plant by state and local dignitaries.
Tyre Bay Direct is offering motor traders exclusive insight into what it says are the top ten factors to consider when purchasing a tyre changer. The tyre consumables and garage equipment retailer has over half a century of experience in the tyre industry and identifies tyre changer information as one of its most popular custom inquiry topics. This inspired the company’s team of experts to create an insider’s guide covering everything a buyer needs to know about purchasing this specialist equipment.
Mild weather is responsible for far fewer winter tyres being sold in the European market in October, reports Michelin. Statistics released by the tyre maker show a seven per cent year-on-year decline in replacement market passenger car and light truck tyres in Europe (including Russia and Turkey). This drop in sales follows year-on-year growth of one per cent in the third quarter of the 2014 and was not reflected in the original equipment market, which enjoyed a three per cent year-on-year increase in November. Between the start of the year and 31 October, the original equipment and replacement markets are respectively four per cent and two per cent higher year-on-year.
India’s JK Tyre & Industries Ltd has reported consolidated net profit of Rs 755.9 million (£7.8 million) for the three months to 30 September 2014, the second quarter of the company’s current financial year. This result represents a year-on-year increase of 18.1 per cent. The company achieved a consolidated turnover of Rs 18.7 billion (£193.5 million), up 3.6 per cent from the second quarter of the previous financial year.
A group of “leading rubber processors from China” are set to visit Thailand, Indonesia and Myanmar to survey sites to establish rubber plants in the next week or so. Thailand’s The Nation reports that about 10 rubber processors from Shandong province and representatives from the China Council for the Promotion of International Trade are scheduled to visit Indonesia, Myanmar (Burma) and Thailand between 19 and 25 November.
The group reportedly consists of around 50 representatives from both companies and government agencies. It will reach Thailand on 23 November where it will stay for two to three days with a view to considering “opportunities to invest in the South and Northeast, the country’s major rubber tree growing areas”.
The Sofia News Agency reports the end of production at the tyre division run by Bulgarian holding company Vidachim AD. It says Vidachim chief executive officer Tsvetomir Leshtarski informed Bulgaria’s State Energy and Water Regulatory Commission (DKEVR) that the ‘Pneumatic Tire Factory’ would stop producing industrial tyres as of today. The company produced its first ‘Vida’ brand tyres in September 1969, and recommenced pneumatic tyre production following the firm’s privatisation in November 2004. However, reports indicate that only small quantities of tyres have been produced of late, and the company’s main source of income is now electricity production. As Bulgaria’s state-owned National Electric Company (NEK) owes it around BGN 19 million (£7.6 million), Vidachim is unable to continue production or pay salaries.
Although only a few Chinese tyre makers can be considered sizeable suppliers in the European market, a glance at the top names in the Chinese tyre market shows that exactly the same applies in reverse. The massive share held by the names at the top of the list also points to the trend towards consolidation within the market.
At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.
The solar photovoltaic power station project at Continental’s tyre plant in Hefei, China was officially inaugurated yesterday at a ceremony attended by local government representatives and by Stephan Weil, prime minister of Continental’s home region of Lower Saxony, Germany. Representing the tyre maker at the event was Dr Ralf Cramer, member of Continental’s Executive Board and CEO of Continental China, and Michael Egner, general manager of the Continental site in Hefei. The solar project is being jointly implemented by Continental and HeFei SuMeiDa Sungrow Power Co., Ltd.
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
On 10 November Bridgestone reported group net sales of 2.665 trillion yen (£14.586 billion; 18.542 billion euros; US$23.137 billion) for the first nine months of 2014. Sales were up 2.3 per cent compared with the same period in 2013. Operating income amounted to 342.468 billion yen (£1.873 billion; 2.382 billion euros; $2.970 billion), up 7.4 per cent. Net income totaled 225.670 billion yen (£1.234 billion; 1.569 billion euros; $1.957 billion), up a strong 15.2 per cent compared with the first nine months of 2013.
As reported on 17 September, Apollo Tyres’ South African subsidiary, Apollo Tyres Africa Proprietary Limited – the residual operation remaining after the sale of the main business to Sumitomo Rubber Industries in 2013 – voluntarily initiated Business Rescue Proceedings on 15 September 2014 as per the provisions of the South Africa Companies Act. In its second quarter notes, The company has now submitted a Business Rescue Plan to the South African Companies and Intellectual Property Commission (CIPC).
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