Asia
At present, Trelleborg Wheel Systems manufactures agricultural tyres in Europe and Asia, and soon North America will be added to its agricultural production footprint. Trelleborg has decided to invest SEK 325 million (£29.4 million) between 2014 and 2018 to set up an agricultural tyre production facility in the US. Production is expected to commence in the second half of 2015 and gradually increase.
Gaither Europe will exhibit its latest garage tools from Reifen 2014’s Hall 1 Stand 1C25. While previous years have featured the eye and ear-catching presence of new models of the Bead Bazooka, Gaither will come to Reifen having just launched its latest assistive mounting system.
As Cooper Tire & Rubber enters its centennial year, the US tyre maker has reported first quarter operating profit slightly below the record result achieved last year. On the back of net sales of US$796 million, 7.5 per cent lower than a year earlier, Cooper achieved a quarter operating profit of $81 million, 16.5 per cent down on the first quarter 2013 operating profit, which was the highest ever in the company’s 100-year history. Operating profit was 10.2 per cent of net sales. The company reported net income attributable to Cooper Tire & Rubber Company of $0.71 per share, or $45 million, in the first quarter. This compares with $56 million, or $0.87 per share, for the same period last year.
Singapore-based Stamford Tyres has officially opened its new £15 million Commercial Tyre Centre and warehouse at its headquarters in Jurong. The company says this new complex supports its existing facility at the site and will have a staff of 85 people. The all-new centre was constructed at a cost of £12.2 million, while a further £2.8 million has been invested in equipment, including six service bays for trucks offering ‘full life cycle’ facilities along with eight loading and unloading container bays.
Revenue and operating profit at Hankook Tire was marginally lower year-on-year in the first quarter of 2014, the company reported on 30 April. Global sales revenue amounted to KRW 1.675 trillion (£958.9 million) between 1 January and 31 March, 0.3 per cent lower than the revenue achieved in the first quarter of 2013. Operating profit in Q1 2014 was KRW 260.1 billion (£148.9 million), 0.7 per cent less than a year earlier. Operating profit to sales ratio was 15.5 per cent.
Continental has announced its intention to purchase the outstanding shares in the 50/50 Emitec Gesellschaft für Emissionstechnologie mbH joint venture it operates with partner, Worcestershire-based GKN plc. Once the acquisition of the 50 per cent share currently held by GKN is complete, the business will be integrated into Continental’s Powertrain division. With the acquisition of Emitec and the deal’s approval, Continental will emerge as a supplier of exhaust aftertreatment systems. Continental has not stated the price it will pay for the remaining share in Emitec.
The official opening of Sumitomo Rubber Industries’ first agricultural tyre plant outside of Japan took place on 22 April. The newly-completed Sumitomo Rubber (Thailand) factory in Thailand’s Rayong Province was host to some 150 opening ceremony guests, including Rayong regional governor Vichit Chatpaisit. Representing the tyre maker was Sumitomo Rubber president Ikuji Ikeda and Sumitomo Rubber (Thailand) president Toru Nagahata.
Orion Engineered Carbons Holdings Gmbh, which makes carbon black for printing and tyres, filed for a US initial public offering (IPO) worth US$300 million, according to document submitted to the American securities and exchange commission. The Frankfurt-based company, which used to be owned by Evonik, was acquired by private equity firms Rhone Capital LLC and Triton Advisers for $1.2 billion in 2011. Orion reported revenue of $1.8 billion last year.
German tyre wholesaler Hämmerling – The Tyre Company GmbH has confirmed its debut as a Commercial Vehicle Show exhibitor. The company says it will present its full product range at the Birmingham show later this month, including the Athos, Maxx, Talas and Sämm private brands. It also intends to look for new authorised dealers and employees at the show. Hämmerling – The Tyre Company GmbH can be found at CV Show stand 4D98.
An agreement concluded today between Toyo Tire & Rubber and Associazione Calcio Milan – AC Milan – gives the Japanese tyre maker Premium Sponsor status with the football club until June 2016. Toyo says the sponsorship deal will influence its global branding content and help the company to “more clearly bring out the potential premium image of the products we offer.” It anticipates “significant” medium-term advantages will result from the partnership in Europe and Asia, and in two regions where Toyo is “contemplating market expansion” – the Middle East and Russia.
Michelin is working with Indian Angel Network (IAN), a New Delhi-based organisation that brings together entrepreneurs and start-up/early stage ventures, in a joint initiative to assist entrepreneurs in creating innovative mobility solutions for a more efficient delivery of produce from farm to market. The initiative, named Farm to Market Logistics (F2ML), is an incubator managed by IAN and supported by Michelin. It seeks ideas that will reduce waste in the food supply chain through new practices, behaviours and solutions.
Football sponsorship has been a favoured means of brand promotion at Continental since it became a Champions League partner in 1995, and in addition to its numerous global, regional and national commitments it has now signed up as an official sponsor of the AFC Asian Cup Australia 2015. At the centre of this deal with the Asian Football Confederation is a championship taking place in Australia between 9 and 31 January 2015; teams from 46 countries will be involved and match coverage will reach up to 2.5 billion spectators.
Following on from their European launch in February, the new series of Zeetex brand passenger car, 4×4 and light commercial tyres have been presented to 40 Africa, Middle East and ASEAN dealers. The six new models offer better road-handling and traction while delivering longer mileages, according to Zeetex distributor ZafcoTrading, and were unveiled on 20 […]
A brand new range of ‘vintage’ t-shirts and sweatshirts with Goodyear branding has gone on sale at Pull&Bear retail outlets worldwide and online, as part of the Goodyear Vintage fashion programme. As part of a deal brokered between IMG Licensing and the Goodyear Company, the clothing will be sold at Pull&Bear stores in 62 countries around the world and on their e-commerce website alongside the existing local Goodyear range of clothing.
Connell Brothers (CBC), the largest distributor of specialty chemicals and ingredients in Asia-Pacific, has announced a partnership with specialty materials company Lehigh Technologies to market Lehigh’s PolyDyne micronised rubber powders (MRP) to the tyre and rubber industries in Southeast Asia.
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