US off-road tyre and wheel specialist Titan International has closed on the purchase of Perth, Australia-based Planet Corporation Group. Titan acquired 56 per cent of Planet for US$22.9 million and paid-off the Australian firm’s outstanding credit facilities of $10.5 million at closing.
The ETRMA has reported its latest Used Tyre (UT) statistics that show Europe maintained a recovery rate of 95 per cent in 2011, despite an increase of 3 per cent in used tyres arisings compared to 2010. However it is worth pointing out that these figures do not include details for the UK market.
Cooper Tires has added its new A/T3 tyre to its Discoverer range of 4×4 tyres. The tyre’s modern six-rib all-terrain design is engineered to provide performance both for on-road and off road driving. The A/T3 tread pattern includes a broken centre and dual draft angles on the tread to aid soft surface traction. Strategically-placed lateral groove protectors on the tread help motorists avoid stone retention and ‘drilling’. It provides solid all-terrain handling, superior all-weather traction, stability and reliable tread wear.
Sailun Tyres has announced that it will be exhibiting at the MIMS Automechanika Show being held in Moscow in late August 2012. The show is held from 27-30 August 27th at the Moscow Expocentre fairground – Pavilions 2, 7 and 8 and the Forum. The Sailun stand is located in Pavilion 2, Hall 3 – stand D611.
Volkswagen has selected the Bridgestone Ecopia EP25 tyre as original equipment for the manufacturer’s new up! city car. The A-segment car was introduced at the Frankfurt Motor Show in September 2011, and Bridgestone started delivery of 165/70R14 81T and 175/65R14 82T size Ecopia EP25 tyres in November 2011. The blue motion version of the up! will be fitted with 175/65R14 82T.
Alongside news of its all-share offer for Titan Europe, Titan International reported record second quarter sales and operating profit. Sales during the three months to 30 June were, at US$459.2 million, 14 per cent higher than in the corresponding quarter of 2011. Gross profit increased 28 per cent to $82.1 million, or 17.9 per cent of net sales. Second quarter income from operations was $81.0 million, up 82 per cent compared with last year’s second quarter result of $44.4 million. Adjusted net income for the second quarter was $28.8 million, compared to $23.7 million in the second quarter of last year.
Sailun Tyres Europe reports that it has committed to increase its sales support and account management team following sales growth in the last year. With specific geographical emphasis on Central and Eastern Europe, Sailun is looking for professionals to “drive and develop sales and marketing initiatives and partnerships with existing and potential tyre distributor partners.”
At least one motor insurance company is warning motorists off using imported tyres designed for use in warmer climates. One company, Be Wiser insurance, suggested that such tyres “will not offer the correct grip in Europe.”
Schrader shares that it has reached the milestone of producing its 200 millionth TPMS sensor. The sensor was produced at Schrader’s Antrim plant in Northern Ireland, and the company says it marked an “important date” in Schrader’s history.
On Sunday 1 July, retread and repair materials producer Vipal visited Donington Park with the truck racing team it has sponsored for the past two years, Buggyra of the Czech Republic. Buggyra driver David Vrsecky collected 37 points over the weekend, with a second placed finish in the final race.
The US National Highway Highway Traffic Safety Administration (NHTSA) has released a recall notice from North American truck manufacturer Navistar. According to the company, the problem is that “over time, due to corrosion and fatigue, the wheels may crack, resulting in possible wheel separation from the vehicle.”
Lanxess reports it will work with the China Rubber Industry Association (CRIA) towards developing and implementing tyre labelling in China. The two parties signed a letter of intent on 13 July, and the German specialty chemicals and synthetic rubber specialist says it and the CRIA have “agreed to cooperate closely on sharing knowledge and expertise” in this area.
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).
The odd ownership dance between Titan International and Titan Europe has kicked up again, with new reports that the US company has made an offer for some or all of the shares in the European operation.
In an official statement from the company, the board of Titan Europe acknowledged recent press speculation to this effect and confirmed that it has received an approach from Titan International Inc, which “may or may not lead to an offer being made for the whole of the issued share capital of the company.
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.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
