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Apollo profits 79% up in April-June quarter

In addition to discussing strategic plans for the coming years, today’s Apollo Tyres annual general meeting saw the release of the company’s approved unaudited results for the first quarter of India’s 2012-13 financial year, the three months to 30 June 2012. During the quarter, net sales rose 12 per cent to Rs 31.65 billion (£367.5 million) and operating profit increased 48 per cent year-on-year to Rs 3.61 billion (£41.9 million). Net profit jumped 79 per cent to Rs 1.38 billion (£16.0 million); Apollo attributes this rise to “a more judicious product and customer mix.”

9th August 2012/by Tyrepress Editors

JK Tyre an “attractive bet”, says analyst

An analyst in India opines that JK Tyre & Industries is currently a very good investment, and he states that shares in the company may be capable of achieving gains as high as 40 per cent over the coming half year or so. Aashish Tater, head of research at Kolkata-based Fort Share Broking, told Indian business news broadcaster CNBC-TV18 that there is a “bullish call” on the tyre sector, and he named Goodyear India and JK Tyre & Industries as the broker’s “prime picks.” Tater particularly feels that the second of these offers opportunities for investors.

7th August 2012/by Tyrepress Editors

Record year in sights after good H1, says Conti

On the back of its second quarter results, which nearly matched those attained in the first quarter, Continental sees itself “on track for another record year.” Commenting on the German tyre and automotive supplier’s performance to 30 June, Executive Board chairman Dr. Elmar Degenhart stated “based on the successful first half of the year, we are confident that we will comfortably achieve the goals we have set for the year. Nonetheless, we must continue to keep a close eye on the uncertainties on the global sales markets, the difficult economic situation in some European Union member states and the slowdown in global economic growth.

2nd August 2012/by Tyrepress Editors

First Line's Borg & Beck brake component expansion

First Line’s Borg & Beck braking programme was launched by First Line in February after more than a year’s work. The production team behind the range aimed to ensure that the programme “provides installers with a range of high quality, matching original equipment components designed to rival the ‘genuine’ or OES parts offered by the franchised dealer,” the company says. This meant that when an OES pad set incorporated a chamfered edge, shim, slot, or included a wear indicator lead, then the Borg & Beck pad set would do so too.

2nd August 2012/by Tyrepress Editors

Sailun to exhibit at Automechanika, Moscow

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.

31st July 2012/by Tyrepress Editors

Q2 sales, operating profit a record for Titan International

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.

27th July 2012/by Tyrepress Editors

Conti opens Singapore R&D centre

To accommodate the company’s growth in Asia, Continental has opened a new research and development centre in Singapore. The facility, which covers a floorspace of some 10,170 square metres, houses around 650 employees from the company’s Tire and ContiTech divisions and the Automotive Group’s interior division. Continental invested S$36 million (£18.4 million) in setting up the new seven-storey centre.

27th July 2012/by Tyrepress Editors

Sailun expansion leads to recruitment iniative

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.”

27th July 2012/by Tyrepress Editors

Govind Rubber expands with India plant, Netherlands subsidiary

Tyre and tube manufacturer Govind Rubber Limited has announced an 8.5 billion rupee (£97 million) expansion plan for its. GRL is setting up a Greenfield project in Gujurat, near Dahej, taking up most of the capital investment (approximately 7.5 billion rupees/£86 million). Chairman and managing director Vinod Poddar said “The plant will have a production capacity of 225 tonnes per day,”

25th 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

Additional delay for Birla Tyres’ pcr project expected

In its results for the quarter ending 31 March 2012, India’s Kesoram Industries reported pushing back the completion date for its Birla Tyres passenger car radial and truck and bus tyre radial projects, but now the pcr capacity expansion project may face further delays. The IANS news service reports comments made by Birla Tyres CEO Arvind Singh on the sidelines of the company’s Annual General Meeting; Singh told journalists that Birla has “not yet decided” when the passenger car project – which through a Rs 7.5 billion (£87.1 million) investment would have given its Balasore plant a daily pcr capacity of 80 tonnes – will be commissioned. “We are considering the present market conditions,” he said.

12th July 2012/by Tyrepress Editors

Pirelli supplies tyres to Myerscough motorsport students

Pirelli has provided motorsport students from Myerscough College with competition tyres for the Ford Fiesta R2 rally car they are building as part of their course. Based in Lancashire, northwest England, Myerscough College boasts seven motorsport workshops and several competition cars for the continuing development and expansion of motorsport teaching. The college believes that hands-on experience is an important aspect of learning and therefore encourages students to take part in a wide range of motorsport events throughout the UK.

11th July 2012/by Tyrepress Editors

Bridgestone to increase TBR capacity in Poland

Production capacity at Bridgestone’s Polish subsidiary, Bridgestone Stargard Sp. z o.o., is to be increased by more than 50 per cent. Bridgestone says the decision has been made to invest approximately 120 million euros in the Stargard truck and bus radial factory to give it an additional 1,350 tyres per day capacity, bringing total daily capacity to 3,750 tyres. The expansion is expected to be complete during the second half of 2014.

6th July 2012/by Tyrepress Editors

Trelleborg inaugurates new manufacturing facility in Xingtai, China

Trelleborg Group has inaugurated its latest new manufacturing facility in Xingtai, Hebei, China to manufacture high-performance specialty, primarily agricultural tyres.

According to the company, the latest undisclosed investment is part of Trelleborg’s continued long-term strategy to grow in markets with “favourable potential.” The site produces both radial and bias technology tyres for farming, forestry and agro-industrial applications in sizes ranging from 18 to 42 inches. The manufacturing output from the facility will reach 150,000 units over more than 200 tyre sizes by 2013. It will serve the needs of Trelleborg’s partners by providing local supply to their Chinese facilities, and just as importantly to local manufacturers.

28th June 2012/by Tyrepress Editors

Bridgestone-shod “banger” completes “gruelling” Crumball Rally

Jon Powell has completed the epic Crumball Rally across Europe on a set of Bridgestone Turanza tyres, raising £2,000 for the Friends of Kennel Lane School in Berkshire, where his son is a pupil. Designed to be a low cost event, encouraging drivers to complete the course in a £200 ‘banger’, the Rally ran over three days from 10-12 May. In addition to supplying Powell with the rubber that would see him through the event, Bridgestone also made a £250 donation to his fund.

13th June 2012/by Tyrepress Editors