expansion Archives - Page 55 of 78 - Tyrepress

Tag Archive for: expansion

Roadrunner Tyres Invest £5000 in Refurbishing its Reception Area

Roadrunner Tyres, part of Bridgestone’s First Stop network of tyre dealerships, has invested over £5000 on the refurbishment of its reception area. The refurbishment of the site, which is based in Cabus near Preston, follows a recent expansion into servicing for cars, vans and 4x4s. These add to the facilities already on offer which include brake, suspension and exhaust repairs.

The depot has also taken advantage of the Toyota Aygo courtesy car scheme, which is available to high performing First Stop dealerships. The vehicle can be used by Roadrunner employees to go to and from work, as a courtesy car or as a general run-around for collecting parts.

Andrew Hodgkinson, managing director at Roadrunner Tyres commented: “Although our customers have always been our number one priority, these recent developments allow us to provide new and existing customers with an even better experience when visiting Roadrunner Tyres.

16th June 2008/by Tyrepress Editors

RPG Investing in CEAT, Philips Carbon Black

India’s RPG group recently outlined plans to invest Rs 30 billion (£357 million) in its tyre and carbon black subsidiaries over the next two years. In late May company chairman Rama Prasad Goenka told media that this investment was part of the group’s expansion programme, and that from the disclosed total, Rs 20 billion would be directed towards the Ceat Tyres operation and Rs 10 billion to Philips Carbon Black.

The investment was necessary if the company was to remain competitive following the government’s liberalisation, privatisation and globalisation policies, he said. The group was, he added, aiming to increase productivity, quality and facilities to workers by the expansion.

12th June 2008/by Tyrepress Editors

India’s Tyre Output Growth Falls Short of Forecasts

Growth in India’s tyre production is likely to fall short of forecast results, with output levels hampered by dumped Chinese tyres and high manufacturing costs. According to Automotive Tyre Manufacturers’ Association (ATMA) director general Rajiv Budhraja, in an interview with Reuters, these factors mean domestic manufacturers will remain under pressure in the short term.

The ATMA previously forecasted growth in 2008 to increase by 2 to 3 percentage points to about 12 or 13 per cent. According to Budhraja, however, “a steady, subdued growth” is now expected in place of this. “Fuel price is going to be a major dampener,” he added, referring to a recent state-ordained 10 per cent increase in the cost of fuel, the greatest price rise in more than a decade. He added that a drop in mileage covered by private vehicles would lead to a fall in demand for tyres in both the OE and replacement markets.

11th June 2008/by Tyrepress Editors

Fleet Awards for Michelin and Kwik-Fit

Michelin and Kwik-Fit were among the companies who picked up awards at the 2008 Van Fleet World Honours ceremony, held at the Royal Automobile Club, Pall Mall, in mid May. These annual awards are presented to those companies, individuals and organisations that are judged to have achieved “the highest possible level of excellence” in the opinion of the judging panel – a panel made up industry professionals.

Van Fleet World editor John Kendall presented Michelin with the Environment Award for the tyre manufacturer’s latest Agilis van tyre, for light CVs between 2800 and 3500kg. He said that most drivers view their tyres as “round, black and not very interesting, but fitting the right tyre can have a notable impact on a fleet’s carbon footprint.”

5th June 2008/by Tyrepress Editors

Apollo Discusses Wider Capacity Expansion Plans

Apollo Tyres has already discussed plans to increase capacity at its Gujarat and Kerala factories, and these projects are part of a wider plan to invest Rs 20 billion (£236.6 million) enhancing domestic and international production capacities. In addition to these expansions, the company will set up a new facility in Chennai.

According to Apollo Tyres chief of India Operations Satish Sharma, the company shall invest this sum over next three years, more than half of which, 200 million euros, would go towards its facility in Hungary. As part of the domestic capacity expansion, Apollo Tyre’s Vadodara plant will see its capacity of passenger car tyre go up from the existing 10,000 tyres a day to 15,000 tyres a day, by around mid-2009. The company will also enhance its truck and bus radial tyres capacity at Vadodara from the existing 300 tyres a day to around 1,100 tyres a day over the same timeframe.

27th May 2008/by Tyrepress Editors

TGI Opens New Panama Office

Tire Group International (TGI) has opened a new sales office in Panama City, Panama. Heading the new office will be Augusto Terracciano. Mr. Terracciano comes to TGI with a vast knowledge of the local Panamanian market and a background in international commerce; two essential elements to be successful in a country that is a crossroads for international trade.

“Establishing a local presence in Panama at this time fits into our growth strategy. Panama is a country that is experiencing a construction boom in addition to the current Panama Canal expansion project. This makes Panama a country where TGI wants to be involved. There is also the future opportunity of opening a distribution centre in the free zone area, this can only further enhance TGI’s distribution capabilities in the region,” said Tony Gonzalez, Tire Group International’s Chief Executive Officer.

16th May 2008/by Tyrepress Editors

Birla Expansion to Add Radial Capacity

India’s Business Standard newspaper has reported on plans for Kesoram Industries to invest Rs 8.4 billion (£103.4 million) expanding its Birla Tyre factory in the northern state of Uttarakhand. Plans for the facility include a radial tyre plant with a 100 ton per day capacity, to be built with a capital outlay of Rs 4.95 billion (£60.9 million) and a 125 ton per day capacity truck and agricultural vehicle bias tyre factory, to be built with an investment of Rs 3.45 billion (£42.5 million). The expansion has an anticipated completion date of December 2009.

12th May 2008/by Tyrepress Editors

Stapleton’s Offers Increased Availability Following Expansion

Following the relocation of two of its regional distribution centres to larger premises and the creation of an additional warehouse facility, Stapleton’s is reporting “a significant increase” in its stock profile and availability. The newly relocated centres at Warrington and Avonmouth increased stock capacity by more than 50 per cent and combined with the additional facility at Biggleswade, increased stock levels by around 130,000 tyres.

Steve Parker, Stapleton’s trading director, commented: “Our aim with the new facilities was always to offer customers the same high levels of outstanding customer service and, thanks to the increased capacity, more choice combined with excellent availability.”

29th April 2008/by Tyrepress Editors

Ceat to Reduce Mumbai Workforce by 25%

India’s Ceat Ltd is said to be reducing the 2,000 strong workforce at its facility in Bhandup, Mumbai by as much as a quarter in order to reduce costs. This plant will also soon be relocated to the city of Ambernath, and before this takes place Ceat intends to offer voluntary redundancy to employees over the age of 56. The hiring of new workers at the Bhandup facility has not taken place for about two years.

“We can save costs by relocating to Ambernath,” said Ceat managing director Paras Chowdhary. “The company will also unlock value by selling the 23 acres of Bhandup land. The money will be invested in funding our expansion plans. He added that the company will save Rs170 million (£2.13 million) in local taxes by relocating in addition to lowering operating costs.

28th April 2008/by Tyrepress Editors

National’s Revie Speaks of a Strong 2007, Confirms Expansion Plans

Healthy annual figures for National Tyres and Autocare were hinted at on April 22, along with a confirmation of the company’s intention to invest in expansion. Although the full year 2007 results are as yet available from Companies House, executive chairman Alan Revie disclosed that turnover in 2007 increased 15.8 per cent, from £87.7million to £101.6 million, and operating profit shot up 128 per cent, from £1.45m to £3.3m.

Commenting on the results, Revie said “2007 marked another year of significant progress for the company, and this creates a wonderful platform to launch our ambitious growth plans.” These growth plans, he reiterated, include investing more than £12 million in new outlets over the next five years. Mr. Revie said that although nationwide growth was anticipated, an emphasis on a number of key regions was planned. These areas include the London, the Home Counties, and the West Midlands.

23rd April 2008/by Tyrepress Editors

Hankook Contemplates China Price Rise

The largest manufacturer of tyres in China by market share, Hankook Tire, is contemplating price increases in this market to offset the costs of oil and raw materials. CEO of the company holding a 25 per cent market share in China, Choi Jin-wook, made comments to this effect on April 21. Choi also said the company expected its sales volume to increase in China by about 20 per cent this year, a stronger rate than the anticipated industry wide 15 per cent growth.

The Reuters news service has quoted Choi as saying “the company has not decided on the details. We are considering a price hike, although nothing has been decided.” The Reuters report also indicated that Hankook was looking for other ways to cut costs, such as through higher productivity.

21st April 2008/by Tyrepress Editors

Micheldever Enhances Logistics with New Appointment

The continued development of Micheldever Tyre Services, a significant player in the UK passenger car and 4×4 tyre wholesaling scene, has led to the appointment of a new company logistics director. Dave Haddock, formerly director of logistics at B&Q, has come on board at a time when Micheldever reports an increasing appreciation of logistic and transport functions as a crucial factor to the company’s continued success and expansion. Micheldever believes Haddock’s appointment will provide the impetus needed to create an industry leading warehousing and transportation facility.

17th April 2008/by Tyrepress Editors

Farmer Autocare Opens Kirkcaldy Centre

Farmer Autocare partnered up with Bridgestone to celebrate the launch of its latest Centre on Forth Avenue, Kirkcaldy on 5 April. Shoppers at Sainsbury’s Kirkcaldy were treated to a Ferrari Formula One Show as well as being offered free tyre safety checks at Fife Central Retail Park. The offer of free tyre safety checks extends to anyone wishing to call in at any Farmer Autocare Centre.

Farmer Autocare used the day to highlight road safety, and the importance of checking your tyres, in conjunction with the Bridgestone worldwide ‘Think Before You Drive’ campaign.

16th April 2008/by Tyrepress Editors

Vipal to Open Distribution Centre in Hamburg

Vipal Europe is to establish a new distribution centre in Hamburg, Germany. According to the company Vipal Europe’s market share has been substantially increasing in recent years, forcing the company to revise its earlier targets for 2008. Establishing a strong presence has been Vipal’s main concern, hence the decision to set-up the new warehouse. “We believe in the European Market and we are ready to attend all of its needs: quality, competitiveness, logistics and service”, said Leandro Rigon, International Business Manager of Borrachas Vipal.

The announcement comes after Leandro Rigon visited the Vipal Europe team in March to communicate the company’s new Europe strategy. Following board approval for European retreading market ‘macro strategies’ in October 2007, Rigon explained what Vipal Europe needs to do to become “one of the largest suppliers of tyre repair and retread products in Europe.”

16th April 2008/by Tyrepress Editors

Hankook to Double Capacity in Hungary

Hankook is reported to have plans for doubling capacity at its facility in Hungary. The BBJ, an English-language Hungarian business weekly, published comments made by Hankook Tire Magyarország PR manager Katalin Roy, who said that the tyremaker intends to boost daily capacity from 15,000 to 31,000 tyres by 2010.

The expansion will involve increasing the area of the Dunaújváros facility, south of Budapest, by 40 per cent, and 300 new staff will be employed. Hankook has already applied for the necessary environmental licenses for the expansion, said Roy. The cost of the investment was not disclosed, however at the time of the plant’s opening Hankook said it would spend 500 million euros in investments at the base by 2010. Work on expanding the plant will apparently begin this June and be completed within a year.

15th April 2008/by Tyrepress Editors