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Apollo to buy Cooper for US$2.5 billion

Apollo Tyres has finally confirmed speculation that the India-based manufacturer is to buy US firm Cooper Tire in a friendly takeover. According to the company the US$2.5 billion deal makes the firm the seventh largest tyre manufacturer in the world with combined revenues of US$6.6 billion. It also gives the manufacturer access to the North and South American markets currently uncovered by its global presence. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40 per cent premium to Cooper’s 30-day volume-weighted average price, according to an announcement detailing the news. We will add further details to this developing story as we receive them. Look out for complete coverage in the July issue of Tyre & Accessories magazine and online at Tyrepress.com.

12th June 2013/12,345 Comments/by Tyrepress Editors

Trelleborg and AGCO renew agreement

Trelleborg and AGCO Corporation have renewed their long-term agricultural tyre development cooperation agreement.

"Following the recognition of Trelleborg as the best EAME (Europe, Africa and Middle East) Supplier in September 2012, this new agreement with AGCO is an important confirmation of our solid business relationship. It provides a firm foundation for the accomplishment of our ambitious future mutual goals,” says Stefano Bettinelli, OE Director at Trelleborg’s Agricultural and Forestry Tyres division.

7th June 2013/12,345 Comments/by Tyrepress Editors

Vipal gives Nova Prata factory an export focus

Brazilian retread materials manufacturer, Vipal used Autopromotec as the platform to announce that it is re-purposing one of its Brazilian production plants. At the same time the firm launched a couple of new treads. The 25th edition of the show coincides with the fact that Vipal itself turns 40 this year, making it something of a multi-celebration for the company.

Perhaps the most important news for European and other export markets is the Brazilian company’s decision to repurpose one of its three manufacturing sites to focus exclusively on products destined for international exports. “This is an important decision that Vipal is taking regarding the foreign market. Thus, we will be able to provide all the required structure to serve with excellence over 90 countries around the world," said Plinio de Luca, Vipal's sales and marketing director say before the show.

4th June 2013/12,345 Comments/by Tyrepress Editors

European introduction for Infinity’s proven OTR range

Infinity Tyres is now recognised around the world for its growing OTR tyre range. Following extensive trials in demanding conditions across Australia, Africa and Asia, Infinity’s speciality heavy-duty mining tyres are now first choice fitments across a range of fleets operating in the most extreme environments.

30th May 2013/12,345 Comments/by Tyrepress Editors

Reports: Apollo sells South Africa operation

Local new reports suggest Apollo Tyres has sold Apollo Tyres South Africa (ATSA), including the Ladysmith passenger car tyre plant, to Japan-based Sumitomo Rubber Industries (SRI) for $60 million. The company will reportedly retain the Durban plant, which manufactures truck and bus radial tyres and off-highway tyres used in the mining and construction industries. All employees of the company, other than those in the Durban plant, will continue with ATSA, the company said in a statement.

30th May 2013/12,345 Comments/by Tyrepress Editors

Re-focusing on Cooper: T&A interviews Jeff Schumaker

At the start of 2013, Jeff Schumaker took over as managing director of Cooper Tire Europe moving to the company’s Melksham headquarters in order to take up the role. But Schumaker’s appointment wasn’t a UK debut, but rather a return to the country and to familiar faces. Schumaker’s first stint in the UK took place roughly a decade ago in 2002/2003 when he was mentored by then MD Ron Shield and worked alongside his immediate predecessor in Melksham, Julian Baldwin, who was then marketing and motorsports director. Roughly four months after Schumaker took up the reigns at Cooper Tire Europe, Tyres & Accessories visited the company’s Melksham headquarters to see what direction the company is taking following the most recent change of leadership.

30th May 2013/12,345 Comments/by Tyrepress Editors

Vipal launching new products, re-purposed factory at Autopromotec 2013

Brazilian retread materials manufacturer, Vipal has announced plans to launch a couple of new tread products at this year’s Autopromotec. The 25th edition of the show coincides with the fact that Vipal itself turns 40 this year, making it something of a double celebration for the company.

20th May 2013/12,345 Comments/by Tyrepress Editors

Despite weaker Q4, Apollo FY13 profits surge

For Apollo Tyres, the 2013 financial year ended on 31 March, and the tyre maker reports that its profit was up almost 50 per cent for the full year. Apollo’s net profit between 1 April 2012 and 31 March 2013 amounted to Rs 6.1 billion (£73.0 million), a 48.8 per cent year-on-year increase on the Rs 4.1 billion earned in the previous financial year. Net sales rose 5.3 per cent to Rs 127.9 billion (£1.5 billion) and operating profit increased 29.2 per cent to Rs 15.5 billion (£185.6 million).

15th May 2013/12,345 Comments/by Tyrepress Editors

Weak tyre, automotive demand weighs on Lanxess in Q1

The earnings posted by chemical company Lanxess in the first quarter of 2013 were lower than the company expected, and it says the weak market environment in the tyre and automotive industries is particularly responsible for this.

10th May 2013/12,345 Comments/by Tyrepress Editors

Supertracker's 'princely' African connection

News, Product News

Over the past twenty five years, Southampton based Supertracker has built up a reputation as one of the UK's leading wheel alignment specialists, and although the company has never expanded into Continental Europe it does have a rather unusual and successful association with Africa.

6th May 2013/12,345 Comments/by Tyrepress Editors

Bauma 2013: OTR segment companies anticipate sound growth

Every three years Bauma, the international trade fair for construction machinery, mining machinery, construction vehicles and equipment, takes place in the German city of Munich. The show also serves as a focal point for tyre makers, wholesalers and equipment suppliers serving the off-road segment. And although many within Europe’s tyre industry are not experiencing the best of times at the moment, most Bauma exhibitors were nevertheless in very high spirits and saw themselves, as companies active within the OTR tyre sector, as an “island of the blessed” surrounded by a highly contrasting situation in the passenger car and truck tyre markets. Many exhibitors expressed hope of once again experiencing sound growth within their market segments in 2013, yet one thing was clear: Everyone in the market realises that, in the long-term, real growth will only take place outside of Europe.

29th April 2013/12,345 Comments/by Tyrepress Editors

Goodyear reports higher Q1 earnings, outlines 3-point Europe plan

Although Goodyear Tire & Rubber shipped fewer tyres and generated lower sales in the first three months of 2013 than a year earlier, the bottom line for the quarter was much healthier. The only regional disappointment was, predictably, Europe – and Goodyear says it will address weakness in the European markets by implementing “additional productivity improvements”. Specific details regarding these measures have yet to be announced.

26th April 2013/12,345 Comments/by Tyrepress Editors

Starco expands, reorganises global operations as part of agri focus

In recent times, Starco has placed a significantly stronger focus on one specific business area. While the firm has been guided by the vision to become “the global market leader in special wheels” for a number of years now, its group strategy for the period from 2010 to 2014 singles out the agricultural sector for particular attention. This focus is influencing Starco’s numerous operations, including its development of new products and the company’s wholesale business. Indeed, the agricultural sector was a crucial factor in the company’s recent expansion into a new continent.

24th April 2013/12,345 Comments/by Tyrepress Editors

Conti showing underground portfolio at Bauma

Continental’s underground mining products are engineered at the company’s Research and Development Center in Hanover, Germany and production is based in Port Elizabeth, South Africa – close to many customers’ gold, copper, and platinum mines. Two key products in this segment are the General Tire brand Power Slick and Semi Slick, and the tyre maker is displaying both of these at the Bauma 2013 show.

18th April 2013/12,345 Comments/by Tyrepress Editors

Starco to supply Terrion tractor range

Russia’s third-largest tractor manufacturer, the ZAO AgroTechMash (ATM) group, has selected Starco as original equipment supplier for its Terrion brand. This agreement is described by Starco as a further step in the company’s agricultural strategy and will be implemented by its Riga-based Eastern group; under the new agreement, Starco will supply the ATM group steel wheels from Titan, row crop wheels from Starco Schaad and tyres from BKT.

15th April 2013/12,345 Comments/by Tyrepress Editors