Indian tyre maker MRF Ltd reports it has signed a Memorandum of Understanding with the Government of Tamil Nadu to invest at least Rs 45 billion (£446.4 million) in two plants located within the state over a seven-year period.
Sumitomo Rubber Industries is set to raise car tyre production capacity in Thailand by 9 per cent in response to strong exports to the US and anticipated sales growth in Southeast Asia, according to a Nikkei report.
DriveRight, the global vehicle fitment data specialist, has secured a six-figure equity and mezzanine investment from Finance Wales to fund its ongoing expansion into new markets in Europe, Asia and the Americas.
Following yesterday’s announcement that Goodyear is investing 44 million euros to upgrade manufacturing at its Uitenhage, South Africa factory, the firm has offered further clarification about a second proposal to relocate “Medium Radial Truck” (MRT) tyres to other plants across the company’s Europe Middle East and Africa (EMEA) region.
Goodyear South Africa has announced plans to invest 670 million South African rand (£32.216 million; 43.847 million euros; US$49.557 million) in increasing production of so-called high-value-added (HVA) consumer tyres at its Uitenhage manufacturing plant. Meanwhile, medium radial production currently at the location is to be relocated across the EMEA region.
Dipstix, a website designed to connect motorists manage their cars, has added a new Midlands-based team member in response to “growing demand” for its new FlexiFix ‘fix now, pay later’ product.
David Sanders joined Dipstix in July. He brings with him a background in finance.
Hamaton is launching a new sensor for the European aftermarket this summer. The EU-PRO 2 sensor is the latest generation from Hamaton and designed to complement the existing EU-PRO sensor
According to the company, the second sensor in the Hamaton range significantly raises the EU-Pro and EU-Pro 2 combined coverage of current TPMS equipped, vehicles to almost 97 per cent. Hamaton reports that the new EU-Pro 2, like the current EU-Pro, can be configured in only two to three seconds and can now be configured by Ateq, Teconomotor, Texa and very soon Brain Bee, TPMS diagnostic tools. Therefore the EU-Pro is said to configure 10 times faster than some popular sensors.
Point S International business development manager, Adrian Smiechowski, attended the first Indian Tyre & Rubber Industry Leadership Acknowledgement (TRiLA) Awards in Chennai. The TRiLA 2015 event took place on the sidelines of Tyrexpo India 2015.
Automotive retail chain Halfords, which includes the growing and increasingly tyre-influenced Halfords Autocentres business, has reported annual group revenues of £1 billion – a year ahead of the company’s plan to reach this milestone. The figures, released on 5 June and followed up with a trading statement on 15 July that pointed to further growth are at least partly driven by the growth of the firm’s online business which saw sales in the year to March 2015 exceed £100 million, representing growth of +14.3 per cent. Indeed, the fourth quarter of 2015 alone saw online sales grow +12.6 per cent. The result is a positive impact on the group’s pre-tax profits (EBITDA), which were up 8.7 per cent.
Cimcorp, which specialises in intralogistics automation reports that Qingdao Sentury Tire Co Ltd. has made the firm’s biggest ever order. According to Cimcorp Sentury has ordered a turnkey material handling solution for its new factory in Thailand.
Ge Guorong, vice president of Zhongce Rubber Group (known as ZC Rubber), visited Thailand for an update on construction progress of ZC Rubber Thailand factory in March.
BM Catalysts, a UK-based manufacturer of aftermarket Catalytic Converters (Cats), Diesel Particulate Filters (DPFs) and Front Pipes, has invested over £500,000 in its in-house production facilities, as well as the internal layout of its head office to help improve production processes and create a better environment for its employees.
Lodge Tyre Company Ltd has opened its 21st depot, with the unveiling on a new branch in Salford. The family run and Birmingham-based business is celebrating its 80th year of trading during 2015.
The new depot, which situated in Lord Byron Square, Salford and close to the M56, M60, M61, M62 and M67 motorway network is located to service Lodge’s expanding business to business customer list as well as its mobile response service. The depot will initially be used as a stocking unit employing three people and managed by long-time Lodge employee Jamie Davies.
Production capacity for high performance light truck and SUV tyres at Michelin’s Dothan factory in the US will increase by ten per cent when upgrades now being installed in the plant are completed in the summer of 2016. Michelin says it is investing US$22 million to upgrade the 35 year old plant, which currently employs 560 people. Approximately 40 new jobs will be created by the investment.
Micheldever Tyre Services says it will “begin the biggest period of expansion in its 43 year history” this year, with a large expansion of its Protyre retail network planned over the next 18 months. The wholesaler posted revenues exceeding £322m last year, selling 6 million tyres through 8,500 fast fit centres – including its own Protyre branded retail sites. Current low-end estimates could put this figure at around one in every five tyres replaced by UK motorists.
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Lodge Tyres