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Tag Archive for: expansion

Lanxess Celebrates World Rubber Day

On September 12 the specialty chemical supplier Lanxess AG celebrated the 100th anniversary of synthetic rubber. The patent for the substance that would later significantly benefit the tyre world was granted exactly a century earlier to German chemist Fritz Hofmann, an employee to Lanxess predecessor company Elberfelder Farbenfabriken. To mark the occasion, Lanxess held a scientific colloquium in Cologne, Germany. More than 400 guests from 18 nations attended the event in order to learn more on the latest innovations in the field, the substance’s future possibilities and its market potential.

22nd September 2009/by Tyrepress Editors

Reports: Hankook to Build Indian or Malaysian Factory

Hankook executives are reportedly planning to build a new tyre production facility in either India or Malaysia. The news follows the announcement that Hankook is investing 230 million euros in increasing output at its Dunaujvaros, Hungary factory to 10 million tyres a year. Speaking to the Financial Times, Hankook executive Calvin Pak explained that the company’s next phase of expansion would be in south Asia “for example in India or Malaysia.” There was even talk of a North American plant “in the longer term.” Calvin Pak reportedly explained that Hankook’s competitive advantage over European manufacturers was that it had won quality accolades but remained “more affordable thanks to less of a brand premium.”

11th September 2009/by Tyrepress Editors

Double Coin Adds 12 Sizes

Double Coin distributor, Kirkby Tyres Ltd, has announced that the Chinese tyre manufacturer is expanding its truck tyre range. According to Kirkby Tyres, the size expansion means the sole distributor (UK and Ireland) can now offer an “all-encompassing
truck tyre line to meet the needs of the most demanding tyre retailer or end user.”

10th September 2009/by Tyrepress Editors

XPart Trebles Battery Range with New Applications

Parts distribution specialist XPart, a wholly owned subsidiary of Caterpillar Logistics Services UK Ltd, has increased its battery range 280 per cent, offering batteries for motorcycle, commercial vehicle, leisure and marine applications. The expansion of the “competitively priced range” will also include nearly 50 percent more car batteries, and will be available to order from all XPart wholesalers and AutoService centres, with same day delivery.

8th September 2009/by Tyrepress Editors

Manbat Reports Continued Increases Aided by Extensive Training

Manbat, the UK's largest battery distributor, has reported significant sales growth from its top six buying group and national account contracts. Increasing sales of OE brand VARTA, along with its own brand Numax, and the expansion of the leisure sector account for majority of the gains, however without training, the picture would be far less rosy.

7th September 2009/by Tyrepress Editors

McConechy's Reports Dip In Profits

According to the Herald Scotland website, Ayr-based tyre retailer McConechy's Tyre Service has posted pre-tax profits of £485,685 for the year to the end of April, down on the figure of £1.2 million for the previous year.

1st September 2009/by Tyrepress Editors

WRAP to Launch Tyre Crumb Quality Protocol

According to Waste & Resources Action Programme (WRAP), the publication of a new Quality Protocol (QP) and certification scheme will help to drive the market for rubber crumb and shred derived from used tyres. Mervyn Jones, joint project executive and head of manufacturing at WRAP told Tyres & Accessories the Quality Protocol will assure material quality and encourage sector growth. However, the practical basis for this expansion is not clear and there are question marks over how much this will cost businesses and ultimately end users. Transport Research Laboratory will operate the tyres QP certification process.

Mervyn Jones believes this growth will be driven by the introduction of a new voluntary QP and certification scheme planned for November 2009, by the Waste Protocols project – a joint WRAP and Environment Agency initiative. The QP follows on from a publicly available specification document (PAS 107) published in 2007. Developed by WRAP and the British Standards Institute (BSI), PAS 107 helps manufacturers of tyre-derived rubber crumb and shred to ensure their products adhere to specified quality standards.

28th August 2009/by Tyrepress Editors

Bridgestone Renews AAH Tyre Contract

Bridgestone UK Ltd has extended its tyre supply agreement with AAH Pharmaceuticals who. Bridgestone/Truck Point have been supplying tyres and tyre service management to AAH since 2006. With 3,800 employees at 20 locations and making over 100,000 deliveries a week, AAH operates over 1,100 commercial vehicles.

25th August 2009/by Tyrepress Editors

Yokohama Expands China Operations

International News

Yokohama Rubber Co. is reportedly expanding the capacity of its Hanzhou Yokokahama Tire Co. passenger car tyre plant in China. Hangzhou Yokohama’s annual capacity of 3 million units a year is expected to grow to 4.1 million passenger and light truck tyres from 2011, following investment of 3 billion yen (214 million yuan). This is the fourth capacity expansion since Hanzhou Yokohama started production in 2003. Yokohama makes its ASPEC A349 low rolling resistance tyre in China and expects general car ownership to increase 10 per cent annually in the years to come.

24th August 2009/by Tyrepress Editors

Blackcircles.com Aims to Grow Network 30%

Blackcircles.com is aiming to increase its garage network by 30 per cent by the end of 2009, adding as many as 400 garages. Announcing the news the company vowed to help independent garages “fight back”, saying it offers “additional revenue, customer footfall and national marketing, helping [independents] compete with major high street brands.”

13th August 2009/by Tyrepress Editors

Delticom Revenues 14.5% Improved in First Half 2009

Despite an increase in revenues during the first half of 2009, Delticom CFO Frank Schuhardt retains a cautious outlook towards the company’s full-year performance. "Consumers across Europe are going to feel the effects of the crisis over the coming months,” he commented. “This is bound to have an impact on the tyre trade. Consequently, we should not assume that Delticom will be as profitable in the second half of the year as it was in the first half."

13th August 2009/by Tyrepress Editors

Name Change Transforms Air Ride Technologies into RideTech

During its recent company summit, US based suspension manufacturer Air Ride Technologies announced a change of name to RideTech. "In the past 15 years Air Ride Technologies has matured into a full line suspension company," commented company founders Bret and Sharon Voelkel. "The RideTech name more fully reflects our current and upcoming product line. Our core product will continue to be the Air Ride Technologies air suspension, but we are applying our experience and resources to an expanding product line and customer base."

12th August 2009/by Tyrepress Editors

CBp Carbon Replies to Fader Statement

CBp Carbon Industries has released a press statement in response to the August 9 statement published by Fader Technologies LLC. The company states it is "saddened" that it must response to this release, but notes it has done so in order to "correct serious falsehoods and libels and to comfort the Company's stock holders."

11th August 2009/by Tyrepress Editors

Falcon Tyres Divesting to Remain Listed

A chunk of Ruia Group company Falcon Tyres will be sold in order to increase ouput at its factory in Mysore, eastern India, and to ensure its promoters shareholder remains below the 75 per cent required to stay listed on the Bombay Stock Exchange. The share, according to Indian media, is to be sold to a private equity firm for Rs 1 billion (£12.6 million).

“We are in the process of preparing our presentation and hope to be through with the placement within the next two months,” Falcon Tyres chairman Pawan Kumar Ruia told the Hindu Business Line. Ruia reports that the promoters’ share in the company went up to 86 per cent following the recently concluded open offer requiring either a public issue or private placement.

23rd July 2009/by Tyrepress Editors

JK Tyre Achieves “Excellent Performance” in Quarter

During the first quarter of the current financial year JK Tyre & Industries Ltd. recorded “an excellent performance,” the company’s vice-chairman and managing director, Dr. Raghupati Singhania, noted. According to Dr. Singhania, this positive performance took the form of “all round cost reduction measures, better operating efficiencies, productivity and richer product mix.”

During the three months from April to June, the company achieved nets sales of Rs 8.98 billion (£112.4 million) and operating profit of Rs 1.07 billion (£13.4 million). The unaudited results show pre-tax profit to be Rs 620 million (£7.76 million).

16th July 2009/by Tyrepress Editors