The Independent Tire Dealers Group says 2010 is shaping up to be a record year, with an increase in purchases from existing members, several new key vendors and the expansion of its geographic footprint through the addition of new members, according to Michael Cox, president and CEO. He noted ITDG, which has 125 members representing 341 tyre and service center locations in 25 states, will exceed its forecasts for both top and bottom line growth.
Trelleborg Wheel Systems is relocating its North American Headquarters and distribution centre, reports Tire Review. The move from Hartville, Ohio, to Fairlawn, Ohio, allows space for further expansion, greater warehouse capacity and more efficient logistics, the company said. “This was a difficult decision after 80 years in our Hartville location,” said Ydo Doornbos, managing director of Trelleborg Wheel Systems Americas Inc.
Transense Technologies plc has formed a joint venture company with SenGenuity, the sensors division of Vectron International Inc. The joint venture company, Bulldog Innovations Limited is a 50/50 partnership between Transense and SenGenuity that is designed to enable “closer cooperation in order to accelerate the development of specific applications based on the companies' existing [battery-less sensor] technologies.”
Ceat has reportedly increased tyre production capacity at its Nashik, India plant by over 1,000 tonnes a month. The plant produces truck, light commercial vehicle (LCV) and agricultural tyre products. Local news reports said that as a result of the expansion the Nashik facility’s truck tyre capacity has increased by 1,700,000 units, LCV tyres by 96,000 units and rear tractor lines by 50,000 units annually.
After opening new distribution centers in Ohio and Indiana – new markets for its vast operations – American Tire Distributors is now eying expansion into New York, New Jersey, eastern Pennsylvania and the entire New England area, reports Tire Review.
Occupying a sizeable booth towards the front of the exhibition hall at Brityrex, Stamford Tyres is exhibiting its proprietary ranges of wheels – branded SSW Wheels – and UHP Sumo Firenza-branded tyres, its stand divided logically between the products. The company is particularly promoting the continued addition of new sizes for its new ST-05A pattern, with the range due to be completed in November.
At present Apollo Tyres exports 50,000 Apollo branded tyres a month to Europe from its factory in Vadodara, India, yet company ‘sources’ claim this quantity will increase markedly in the coming months. According to Indian financial journal the Hindu Business Line, sources expect a 30 per cent increase in the monthly shipment of tyres to Europe, with 65,000 units a month arriving here by March- April 2011.
Italian tyre wholesaler operation CDP Group Spa has grown from a start-up to being a top 10 tyre wholesaler in the country in less than three years. Founded at the beginning of 2008 the company reports that it took just two and a half years to get into sixth place in the Italian tyre wholesale rankings and – with full year 2009 turnover totalling 28 million euros – there is every sign that the growth will continue.
A desire to accelerate corporate growth has prompted Michelin to launch a 1.2 billion euro capital increase aimed at existing shareholders. Through this capital increase the French tyre maker also aims to enhance its credit rating, access to financing and financial flexibility.
Amongst Michelin’s plans in Asia is a doubling of market share in Malaysia. Yves Pouliquen, managing director of Michelin Malaysia Sdn Bhd, reports the more than 1,000 outlets selling Michelin tyres throughout the country hold a ten per cent share of the market, and the tyre maker’s goal is to “grow that to 20 per cent.” One means the company has of increasing its presence in Malaysia is via the expansion of its Tyreplus network of independent tyre retailers. A year after its initial Malaysian market debut, the national Tyreplus network contains eight outlets, and Michelin plans to increase this to 50 centres by 2013 through a project Pouliquen says will cost some RM10 million (£2 million).
Continental AG says automobile production in Europe and the US will remain stagnant next year, which is why it is stepping up expansion in Asia. The tyre and auto part maker said growth in emerging markets like China, India and Indonesia is important to its continued success.
Nanophosphate lithium ion battery and systems developer and manufacturer A123 Systems has announced the opening of what it claims to be North America’s largest lithium ion automotive battery production facility. The grand opening of the plant in Livonia, Michigan was held on September 13, and A123 Systems says that when the facility is fully operational it will expand the company’s manufacturing capabilities by up to 600MW hours per year. The Livonia factory’s opening comes just over one year after A123 Systems was awarded a US$249 million grant from the US Department of Energy (DOE) as part of the American Recovery and Reinvestment Act to help the company execute its strategy to ramp up US manufacturing capabilities to meet increasing, market-driven demand for innovative technologies.
India’s Ruia Group is reportedly “close” to purchasing a German automotive component company, and may route any agreed transaction through its listed Falcon Tyres subsidiary. Group chairman Pawan Kumar Ruia states that Falcon Tyres will raise around Rs 8 billion (£111.6 million) by way of fresh shares through a rights issue, equity convertible warrant or other means to fund its expansion programme of overseas acquisitions and capacity expansion at home.
Trelleborg Wheel Systems has launched a new 710/50 R26.5 twin radial tyre. According to the company, the new product offers enhanced flotation characteristics that protect the soil, the driver’s health, lowers noise levels and contributes to reduced overall operating costs for the farmer. The twin radial features a 15 per cent wider footprint area, additional lugs and a longer central block compared to the previous version. This means an increased land/sea ratio and 14 per cent deeper lugs.
Bridgestone has announced that it will raise the prices by between 3 and 6 per cent of its consumer, commercial and speciality tyres in Europe during October 2010. Bridgestone Europe CEO and president Makio Ohashi said that “historically high” raw materials prices had necessitated the hike, while “further increases will be necessary in the coming year”.
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