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Tyre and wheel business news from the segment’s most important companies.

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Conti, SK Innovations battery JV a ‘strong team’ for future mobility

Yesterday, Korean firm SK Innovation and Germany’s Continental signed an agreement to create a jointly managed company. SK Innovation and Conti will respectively hold 51 per cent and 49 per cent shareholdings in this joint venture, which is being set up with the goal of mutually developing, producing and globally marketing lithium-ion battery systems for cars. This agreement comes half a year after the two companies signed a letter of intent.

24th July 2012/by Tyrepress Editors

Saab Parts UK to launch national brokerage service

Saab Parts UK hopes to ensure a consistent supply of used Saabs on forecourts following the 2011 demise of the company by launching a new national broker service for their pricing and placement on 1 August, 2012. The facility for Saab trade enquiries will be administered by a dedicated and highly experienced Saab used car expert based at Saab Parts UK’s HQ in Cranfield. The parts company’s move into vehicle brokerage is inspired by the 188,000 Saabs on UK roads.

23rd July 2012/by Tyrepress Editors

Trelleborg declares Q2 a ‘strong quarter’

Trelleborg president and CEO Peter Nilsson has reported a “strong quarter” for the Swedish company. During the second quarter of 2012 the firm’s sales rose slightly to SEK 5.66 billion (£520 million) while operating profit increased 34 per cent to SEK 875 million (£80 million). Net profit amounted to SEK 712 million (£65 million).

19th July 2012/by Tyrepress Editors

Weak summer tyre sales drag Delticom revenues down

Traditionally, financial news from Delticom has centred on unprecedented growth and increased revenues. Not so today. The European online tyre retailer has issued a statement outlining preliminary figures for the first half of 2012, and for once the news isn’t as good as anticipated. Against what the company refers to as a “backdrop of weak summer tyre markets,” Delticom took in revenues of 193.3 million euros in the first half of 2012, a 2.5 per cent year-on-year decrease. Earnings before interest and taxes (EBIT) amounted to 13.2 million euros, down 30.9 per cent from the 19.1 million euro EBIT in the first half of last year.

19th July 2012/by Tyrepress Editors

New car registrations on the rise, at least in the UK

Passenger car registrations increased slightly during the first six months of this year, reports the European Automobile Manufacturers Association (ACEA). The organisation, which represents the interests of eighteen European vehicle manufacturers, says UK registrations were up 2.7 per cent year-on-year to 1,057,680 units, growth that bucked the Europe-wide decline. A 6.8 per cent decrease in passenger car registrations was recorded in the EU27 and EFTA region, with 6,644,829 units registered.

17th July 2012/by Tyrepress Editors

ČGS reports growth in all Mitas segments during 2011

In ČGS Holding’s freshly-published 2011 annual report, the Czech Republic-based parent company of tyre maker Mitas a.s. reported its tyre division “successfully continued in its strategy to become a leading global producer of off-road tyres, significantly increased sales and launched major investment projects.”

16th July 2012/by Tyrepress Editors

High-end, specialty tyres essential for survival – Bridgestone CEO

Recently appointed Bridgestone CEO Masaaki Tsuya has spoken candidly about the tyre maker’s future against a backdrop of increasing competition from Asian manufacturers and global economic challenges. In an interview with the Wall Street Journal, Tsuya stated that Bridgestone must focus on high-end and more specialised products in order to survive. "We will lose if we make similar products using similar production methods (to our competitors)," he said.

19th June 2012/by Tyrepress Editors

Sava sales up in 2011

Slovenian tyre maker Sava has reported a 19 per cent growth in local net sales for 2011. The Goodyear subsidiary earned 132 million euros in local markets last year; in total, the company achieved net sales of 264.7 million euros and made a 6.83 million euro net profit.

18th June 2012/by Tyrepress Editors

Goodyear acquisition, investment to support Asia-Pacific OTR growth

Earlier this month, Goodyear Tire & Rubber announced it now holds 100 per cent ownership of its Nippon Giant Tire (NGT) subsidiary in Tatsuno, Japan. The tyre maker has been the majority shareholder in NGT since 1985 and purchased the shares owned by its joint venture partners, Toyo Tire & Rubber Co., Ltd. and Mitsubishi Corporation, for an undisclosed amount. Goodyear now plans to invest US$250 million to upgrade and expand NGT’s tyre manufacturing facility in order to increase its global supply of OTR tyres for key customers.

18th June 2012/by Tyrepress Editors

Preaching to the choir

Editorial/Comment

As this issue of Tyres & Accessories goes to press, most of the team are en route to Essen for what has become the world’s largest tyre exhibition (look out for full coverage in our July issue and online at Tyrepress.com). Now that restrictions related to tyre labelling have been lifted, it is likely that this is the subject that everyone will be talking about. The leading manufacturers have already started positioning their companies in relation to one another and we can only imagine how they will position their respective pre- and post-labelling products compared with the rest of their group brands. Again this is something we are keeping a close eye on here at T&A.

1st June 2012/by Tyrepress Editors

Vita resigns from Pirelli board

Pirelli & C. SpA has reported the resignation of Giuseppe Vita from its Board of Directors following his assumption of the role of chairman at UniCredit. The UniCredit bank confirmed Vita’s appointment on 11 May. Upon sharing news of Vita’s resignation, Pirelli thanked him for his contribution to the Group.

29th May 2012/by Tyrepress Editors

5 leading European tyre markets analysed

Research and Markets has published a report analysing key elements of the five leading tyre markets in Europe during the period 2011-2015; the UK, France, Italy, Germany, and Spain. The report notes the “significant impact” of the 2008-2009 economic crisis, during which all countries experienced reduced sales in 2008 and 2009, which was followed by uniform recovery through 2010, based on essential replacements. Each country went on to experience various levels of sales downturn in 2011.

28th May 2012/by Tyrepress Editors

Lanxess confirms FY forecast; EU label expected to stimulate business

At the company’s Annual Stockholders’ Meeting on 15 May, Lanxess CEO Axel C. Heitmann stated that the specialty chemicals firm remains on course for growth in 2012. “We will continue to pursue our successful strategy of focusing on dynamic markets, megatrends, profitable growth and a solid financial basis,” said Heitmann. The company confirmed its forecast for the full-year 2012: EBITDA pre-exceptionals is expected to grow by between five and ten per cent compared with last year.

15th May 2012/by Tyrepress Editors

Bridgestone to quit electronic paper business

In order to place a greater focus upon its core businesses, Bridgestone has elected to withdraw from the electronic paper market. The company also indicates that increasing competition and rapidly declining prices in the liquid crystal panel business played a role in its decision. At present the exact timing for Bridgestone’s exit from the business has yet to be determined, however the Japanese manufacturer says it expects to conclude its production of electronic paper by the end of October 2012.

15th May 2012/by Tyrepress Editors

Bridgestone net income up 35% in Q1

For the first quarter of 2012, Bridgestone has reported net sales of ¥726.2 billion (£5.6 billion), a three per cent increase over the first quarter of fiscal 2011. The company’s operating income amounted to ¥63.0 billon (£490.0 million), an increase of 13 per cent, ordinary income was ¥61.7 billion (£479.9 million), an increase of ten per cent, and net income was ¥42.2 billion (£328.2 million), a year-on-year increase of 35 per cent.

14th May 2012/by Tyrepress Editors