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Apollo Tyres reports 9% annual net sales growth, profits down a third

Apollo Tyres Ltd has approved the company’s audited financial results for the fourth quarter (January to March) and the financial year 2010 – 2011. Consolidated annual revenues, taking into account manufacturing bases in India, South Africa and the Netherlands, grew 9 per cent to reach net sales of 88.6 billion rupees (£1.205 billion; 1.386 billion euros; US$1.983 billion). Net profit fell to 4.4 billion rupees from 6.5 billion rupees the previous year.

11th May 2011/by Tyrepress Editors

Goodyear reports record sales and a Q1 profit

Goodyear Tire & Rubber has reported record sales and higher unit volumes for the first quarter of 2011 – and a net profit for the quarter. The tyre maker’s first quarter 2011 net income was US$103 million, up from a net loss of $47 million for the same period in 2010.

29th April 2011/by Tyrepress Editors

Goodyear Innovation Center names Jean-Pierre Jeusette general director

Goodyear has announced the appointment of Jean-Pierre Jeusette to general director of the Goodyear Innovation Center in Luxembourg (GIC*L). Jeusette was previously director, Technology Consumer Tyres for Europe, the Middle East and Africa, and has 21 years’ experience with Goodyear on a variety of assignments in both Luxembourg and Akron. Jeusette replaces Marc Junio, who has elected to retire after 34 years of Goodyear service.

21st April 2011/by Tyrepress Editors

Kanwar: European Apollo tyre sales to increase 30% by winter

Apollo Tyres’ managing director Neeraj Kanwar is expecting European aftermarket sales of its Apollo-branded tyres to grow to between 60,000 and 65,000 units a month by the winter season. According to an interview published in the India’s Hindu Business Line, the company is currently selling around 50,000 of these tyres a month in Germany, the Netherlands, the UK and Italy, meaning the proposed uptick in sales will be in the order of 20 – 30 per cent. According to the reports these figures are “over and above the sales of Vredestein branded tyres manufactured in Europe.”

21st April 2011/by Tyrepress Editors

Apollo South Africa invests in new budgeting system

Apollo Tyres South Africa, formerly known as Dunlop Tyres South Africa, has invested in a specialist budgeting solution from Synergy Business Intelligence. Urekha Venketas, associate manager business Analysis at Apollo Tyres South Africa explained why the company sought such a system and her comments also give a flavour of the now Indian-owned firm’s approach: “In a global business, of which the South African operations are a part…means being able to very closely track performance in a highly unpredictable market.”

20th April 2011/by Tyrepress Editors

Elgi Rubber acquires Dutch rubber recycler

Elgi Rubber International Limited has announced the acquisition of a 100 per cent interest in Rubber Resources B.V. on 16 March, 2011. Elgi, headquartered in India, has operations in the USA, Brazil, East Africa and other parts of the Indian Subcontinent, focusing on rubber recycling, especially in tyres and retreading. Elgi says the acquisition “means a strong presence in Europe and big step towards being a worldwide supplier of reclaim to the rubber industry”.

20th April 2011/by Tyrepress Editors

Triangle wins Caterpillar platinum supplier award

Triangle Group, one of the largest tyre makers in China and arguably the largest producer of radial OTR tyres in the country, is celebrating winning a SQEP platinum supplier award from well-known off-road vehicle manufacturer Caterpillar.

19th April 2011/by Tyrepress Editors

Tyre firms eye Saudi Arabia as strategic growth market

With more than 13 million tyres being imported annually and a market that is set to grow by 12 per cent each year (according to the US commercial service), Saudi Arabia is the largest market for tyres and tubes in the Middle East region. This growth, fuelled by an ecomomy riding on high oil prices, high disposable incomes and an appetite for all things automobile, means that the Kingdom is firmly in the sights of tyre and tube manufacturers worldwide.

19th April 2011/by Tyrepress Editors

Goodyear Dunlop’s James Bailey informs One Show viewers about tyre labelling

James Bailey, who was appointed director, brand PR in the Europe, Middle East and Africa region for Goodyear Dunlop at the beginning of the year, has appeared on BBC Television’s The One Show, explaining to segment presenter Carol Vorderman the importance of correct tyre pressure, tread patterns and tread depth for driving in the wet. Bailey took the opportunity to talk about the tyre label – with a close-up of the label itself – showing it to around 4 million teatime viewers of the magazine show. The 14 April edition of the show can be accessed by UK internet users via the Corporation's iPlayer website for the next week.

15th April 2011/by Tyrepress Editors

Pirelli to raise EMEA prices

New prices for Pirelli products come into effect on June 1; the Italian tyre maker is increasing prices in all EMEA region markets for passenger car, motorcycle, scooter, light industrial and heavy industrial tyres. The increases will be up to six per cent for summer tyres and up to 12 per cent for winter tyres in Europe, and up to ten per cent for all tyres in the Middle East and Africa. Pirelli says the price adjustment is a consequence of the rising cost of key raw materials, in particular natural rubber and oil.

13th April 2011/by Tyrepress Editors

South African union seeks 20% pay rise for tyre workers

The National Union of Metalworkers of South Africa, the 260,000 member union that represents tyre and metal industry workers, states it will engage in collective bargaining with employers this year to gain a number of benefits for its members, including a 20 per cent across the board wage increase. Other benefits it seeks include agreement contracts with a minimum one-year’s duration and a ban on labour brokers.

8th April 2011/by Tyrepress Editors

Bridgestone establishes sales company in Morocco

Company News, International News

Exports of minerals and agricultural products are significantly growing in Morocco due to free trade agreements the North African country operates with the European Union and United States. On top of this, Morocco is actively establishing additional infrastructure along the Mediterranean Sea coast in the hope of becoming a major hub for the distribution of goods in and out of North Africa. For this reason, Bridgestone Middle East & Africa FZE (BSMEA) sees Morocco as a key region in which rapid economic expansion can be anticipated and has established a new tyre sales company based in Casablanca. The name of the new company is Bridgestone Tire Sales Morocco SARLAU (BTSM). Through the company, which began operation on April 1, BSMEA intends to further strengthen its business in Morocco's “highly promising” market by “increasing its ability to offer high quality products and services to the region.”

4th April 2011/by Tyrepress Editors

Bridgestone South Africa lockout a “declaration of war,” says union

A lockout is reported to have begun at two Bridgestone factories in South Africa on March 22. The National Union of Metalworkers of South Africa (NUMSA) states the lockout at the Brits and Port Elizabeth plants was instigated “in response to wage increases achieved by workers in September 2010” – and the union refers to the lockout as “a declaration of war.”

25th March 2011/by Tyrepress Editors

Italmatic: A long-established full portfolio manufacturer

With a history going back 45 years and more than 7,500 machines in operation around the world, the Italmatic Group is today one of the leading retreading equipment and accessory providers. These days the Milan based machinery manufacturer offers a comprehensive portfolio of products, from passenger car tyres up to and including complete production facilities, for use in the retreading of various types of tyres. “We are probably the only or at least one of a handful of companies able to deliver everything from accessories for bicycle tyres through to facilities for the retreading of 63-inch OTR tyres,” Italmatic vice-president Massimo Ghitturi comments to Tyres & Accessories. Italmatic can also offer its customers turnkey retreading facilities, from the preparation of a layout to installation and startup technical support.

25th March 2011/by Tyrepress Editors

Tyre firms praise fuel duty decision

Bridgestone and Kwik-Fit Fleet have responded positively to the Government’s decision not to increase fuel duty. Commenting yesterday on the reversal of the planned hike announced in the Budget, Bridgestone UK communications manager Andrew Dingley said “today’s announcement that the planned increase in fuel duty has been dropped is welcome news for motorists at a time of austerity. The 1p a litre, plus inflation, fuel duty escalator, which was due to take effect on April 1st, would have added as much as 5p a litre at the pumps. Intervening now to block a further fuel price increase is a sensible move and will go some way to easing the strain on motorists and businesses that rely on transportation.

24th March 2011/by Tyrepress Editors