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Keyuan notified of NASDAQ delisting

Despite being informed that Keyuan Petrochemicals’ stock may be delisted from the NASDAQ, company chairman and CEO Chungfeng Tao states demand for its products “remains strong”. The Chinese petrochemical product manufacturer disclosed on July 11 that it received a letter from the NASDAQ regarding a delisting of its stock based on a review of the company and pursuant to NASDAQ Listing Rule 5101 and Listing Rule 5250 (c)(1). Keyuan says it has requested a hearing to appeal this decision and adds that its management is “working diligently with all relevant authorities to regain compliance with its regulatory requirements.”

13th July 2011/by Tyrepress Editors

New premises offer Manbat room for growth

After 13 years at its current headquarters in Shrewsbury, Manbat has moved to a substantially larger site. The shift to a new headquarters has seen the UK’s largest battery distributor move a full 500 yards along Lancaster Road; Manbat says the new side provides sufficient room for its ongoing expansion plans.

8th July 2011/by Tyrepress Editors

Work starts on Mitas US plant conversion

On June 30 a groundbreaking ceremony was held to mark the start of work to convert the former Winnebago Industries factory in the US state of Iowa into a production site for Mitas agricultural tyres. A number of civic representatives attended the ceremony in Charles City, which was hosted by project leader Vladimir Dusanek, vice-president of Mitas Tires North America.

7th July 2011/by Tyrepress Editors

Birla to combat financial pressures with expansion, management restructuring

After ending the 2010-11 financial year with a net loss of Rs 2.1 billion (£29.1 million), India’s Kesoram Industries has announced its intention to restructure the management of its Birla Tyres business unit and increase its focus on passenger car and two-wheeler tyre production. In a statement, Kesoram director (and daughter of company head Basant Kumar Birla) Manjushree Khaitan said “the company is hopeful of rebounding this year as it is in the process of putting in a recovery plan in place which includes among other things a strong management team for the tyre division, higher capacity utilisation, a more aggressive marketing policy and a change in the product mix towards high margin passenger car and two-wheeler tyres.”

6th July 2011/by Tyrepress Editors

National Tyres adds 10 Broadway branches to its network

National Tyres reports that it has added 10 branches to its network this month as part of the company’s expansion strategy. According to National Tyres and Autocare, the 10 new branches are a group acquisition from Broadway Retail Ltd.

“This is a very exciting development for National Tyres and Autocare,” said chairman Alan Revie: “It is a testament to the strength and professionalism of our business that we are able to expand at a time when so many retailers are contracting. It also represents a significant acceleration of our growth plans, having already added eight new branches to our network in the last 12 months alone.”

5th July 2011/by Tyrepress Editors

Mixer manufacturer Carter International discusses expansion plans

Since being relaunched in its present trading format eight years ago, Rochdale-based Carter international says it has evolved into a “leading manufacturers of mixing room machinery” and other tyre manufacturing products; the upwards curve in the company’s development has led to the organisation’s current plan to relocate to a greenfield site. Carter says its “ongoing success in a highly competitive market” has encouraged the company to improve its manufacturing and operational facilities for greater “professionalism and efficiency”.

4th July 2011/by Tyrepress Editors

Halfords Autocentres to use Cam Systems e-commerce platform

Cam Systems has announced that Halfords Autocentres has signed an e-procurement agreement with the software provider, as it continues to develop its growth strategy. Halfords announced a proposed expansion of its network to 400 sites in May. Cam says the MIDaS-based platform will provide transactional interaction with Halfords’ wholesale suppliers to streamline its tyre buying processes.The system will also allow consumers to view product prices online in coordination with Halfords’ own B2C web facilities.

29th June 2011/by Tyrepress Editors

Mining sector demand driving Bridgestone’s off-road business

Within the United Kingdom the off-road tyre market is dominated by the mining sector and it is no secret that Bridgestone has safely the largest presence here. When Tyres & Accessories spoke with Bridgestone UK’s OTR sector product manager Barry Coleman recently, he confirmed that current industry data places Bridgestone as clear UK market leader in the OTR/EM tyre segment and added that the company’s particular strength within the segment is in the rigid dump truck business. Bridgestone’s tyre portfolio for these 100 tonne plus vehicles includes sizes up to 3700R51 in the UK.

28th June 2011/by Tyrepress Editors

Grouptyre membership “key” in B.A.B. Distribution expansion

Grouptyre member and wholesale operation of BA Bush & Son, B.A.B. Distribution has announced an expansion of its operation along the east coast of England. The company currently operates 17 centres across Lincolnshire, East Yorkshire, Humberside and Cambridgeshire, having opened four new facilities over the past two years, and it now aims to have 20 outlets by the end of the year on the back of continued growth. The wholesale group says the expansion shows that it is committed to growing its market share by investing to improve the supply chain.

28th June 2011/by Tyrepress Editors

Carlyle Group confirms it's buying RAC from Aviva for £1 billion

The Carlyle Group (an asset management firm) has confirmed that it has reached an agreement to acquire RAC Limited from Aviva plc for £1 billion. The deal is subject to regulatory approval, but is expected to complete by the end of the third quarter of 2011. Moving forward Carlyle’s strategic involvement appears to centre on the access to “additional capital for future investment” it can provide for expansion into other areas of motor service amongst other things. And the intention appears to be to expand “in the area of the motor services market.” Aviva bought RAC for £1.1 billion in 2005.

23rd June 2011/by Tyrepress Editors

Export certification to boost Nexen’s export competitiveness

Nexen Tire has become the first South Korean tyre manufacturer to be issued with an AEO (Authorized Economic Operator) certificate by the Korea Customs Service. AEO certification, the tyre maker explained, allows for faster and more secure customs checks. This document complements the FTA certificate, which documents the place of origin of exported products, received last November. “Through the two certificates Nexen anticipates increasing its export competiveness as the simplified customs procedure will save both time and money,” commented Nexen Tire Europe.”

20th June 2011/by Tyrepress Editors

Hankook Hungary’s ‘factory village’ opened

Work on stage two of Hankook Tire Hungary’s Rácalmás factory is close to completion and the 1,900 employees at the plant now produce more than 30,000 tyres per day. Alongside the plant expansion, Hankook has also worked on, and recently completed, a project to benefit its workforce. On June 10, Hankook Tire Hungary opened a new 100 per cent company-financed hostel equipped to house 500 employees; the tyre maker says the facility, located in nearby Dunaújváros, offers “modern accommodation at the highest standard.”

15th June 2011/by Tyrepress Editors

Conti consumer tyre production up 10% in 2011

Due to strong demand in both its original equipment and replacement markets, Continental reports its total passenger and light commercial vehicle tyre production this year will be around ten per cent higher than in 2010. This equals some 124 million tyres, a greater quantity than the German tyre maker has previously produced in the course of a year. Despite this, Continental states its anticipated output is “not yet sufficient to cover the predicted long-term demand completely,” and thus it has embarked on a capacity expansion programme; details of projects undertaken as part of this can be found via the links below.

10th June 2011/by Tyrepress Editors

Halfords Autocentres: Up to 600 possible expansion sites

Halfords, which bought Nationwide Autocentres almost 18 months ago, has suggested that there could be scope to increase its expansion plans beyond the ambitious target to double its presence to around 400 sites announced during the purchase. During a recent conference with financial analysts the company spoke of the “analysis of potential catchments – 400 possibly up to 600 sites.”

23rd May 2011/by Tyrepress Editors

Expanded US Conti test site provides increased tyre testing options

Continental Tire The Americas has inaugurated a new wet and dry test surface at its providing ground in Uvalde, Texas. Work on the US$3.5 million Vehicle Dynamics Area began last September and construction work involved transporting more than 88,000 tonnes of material and over 700 truckloads of rock to the site; the end result is a 640,000 square foot (60,000 square metre) area that provides several test options to simulate real-world driving sceneries, safely allowing for tyre and vehicle stability tests at the “limit.” The track surface is intended to reflect the average asphalt surfaces motorists encounter while simultaneously allowing a high degree of differentiation between different tyres. The irrigation system installed for wet testing uniformly distributes water across the surface’s entire width and is adjustable from 1.3 to 2.8mm.

23rd May 2011/by Tyrepress Editors