expansion Archives - Page 60 of 78 - Tyrepress

Tag Archive for: expansion

Revenue and Net Income up at Delticom

Delticom AG, Europe’s leading Internet tyre retailer, has published its consolidated interim report for the first six months of 2007. The company recorded revenue growth of around 35.2 per cent in the first six months compared to the first six months of 2006, with the total rising to 102.0 million euros (H1 2006: 75.4 million euros). EBIT increased from 3.7 million euros in H1 2006 to 5.4 million euros. At the same time, net income for the period increased to 3.7 million euros (compared to H1 2006: 2.2 million euros).

Revenues in the key eCommerce segment were up 41.7 per cent in H1 2007 to 94.1 million euros from 66.4 million euros in H1 2006. The number of registered customers in the eCommerce segment – the customers who have purchased at least once from Delticom in the past (including the current fiscal year) increased from 974,000 at the end of the second quarter of 2006 to 1,555,000 one year later. Delticom acquired 306,000 new eCommerce customers in H1 2007, with 112,000 registered customers making a repeat purchase from Delticom in the period under review.

22nd August 2007/by Tyrepress Editors

Bridgestone to Expand Capacity at Two Asian Facilities

According to a statement released by Bridgestone on August 22, the company’s subsidiary Bridgestone India Private Limited (BSID) has taken the decision to expand production capacity at its passenger car and light truck radial plant in the city of Indore. This expansion is deemed necessary to meet burgeoning demand fuelled by a booming domestic market. The Japanese tyre major also stated that its Indonesian subsidiary, P.T. Bridgestone Tire Indonesia (BSIN), will increase production capacity at its passenger car and light truck radial facility in Karawang, east of Jakarta. This planned expansion comes in response to growing demand, primarily from export markets.

The Indore plant began volume production in 1998, manufacturing passenger car and light truck radials for the domestic market, and with vehicle ownership in India skyrocketing during the subsequent nine years BSID forecasts a continued strong demand for its tyres, particularly in larger diameter rim sizes. To accommodate this domestic market appetite for Bridgestone tyres BSID has opted to invest 6 billion yen (£26.4 million) expanding production capacity at its Indore plant from its current 4,500 tyres per day up to 15,000 daily by 2010.

22nd August 2007/by Tyrepress Editors

Accuride Appoints New Senior VP Sales and Marketing

On August 20 Accuride Corporation named the successor to H. Larry Taylor, who recently left the company to pursue other career opportunities. Stepping into the role of senior vice president, sales and marketing is Richard Schomer, who brings more than 20 years’ experience of OEM and aftermarket sales with him.

Schomer will be responsible for the strategic global leadership of Accuride’s sales and marketing operation and will work closely with Accuride’s strategic business units to drive product, market and global expansion initiatives.

“We are excited to have Rick join our executive leadership team, given his strong entrepreneurial background coupled with his extensive experience in market and product development,” said John Murphy, president and CEO of Accuride. “Following the successful integration of Transport Technologies Industries, Inc. and as we look beyond 2007, our strategic initiatives will continue to focus on growing Accuride’s business both organically and globally. We believe Rick’s keen strategic visioning ability and proven track record of translating value-added business propositions into sales will be a tremendous asset to Accuride and will assist us in achieving our growth objectives.”

Prior to joining Accuride Schomer served as principal of MR3 LLP, a business consulting firm specialising in market and product development.

21st August 2007/by Tyrepress Editors

Bridgestone Begins Run-Flat Production in South Africa

Bridgestone’s wholly owned South African subsidiary Bridgestone South Africa has become the country’s first tyremaker to begin the commercial production of run-flat tyres. The tyres will be manufactured at the company’s Brits plant in South Africa’s North West Province, a facility that has received a R700 million (£48 million) expansion and upgrade over the previous five years.

The first OE deal for the new South African run-flats was officially approved by carmaker BMW in June. At this stage, however, Bridgestone South Africa chairman and CEO Yasuhiro Ito reports that BMW is the only manufacturer fitting run-flats to locally assembled cars, and Bridgestone is not involved in talks with any other OEM.

20th August 2007/by Tyrepress Editors

Nokian to Build 300 Workers’ Flats near Russian Factory

Employees at the Nokian Tyres factory in Vsevolozhsk, near St Petersburg, will soon have access to affordable accommodation near their place of work. The Finnish tyremaker plans to build seven five-story apartment blocks, containing 300 flats in total, on a 4.5 hectare section of land it has purchased. The flats will be sold to employees at cost price.

The construction of the new accommodation comes at a time of growth for the Vsevolozhsk factory. A 33,000 square metre expansion of the facility is currently underway, and when completed in March 2008 manufacturing capacity will increase over a three-year period from four million to ten million units per annum.

17th August 2007/by Tyrepress Editors

Birla Tyres to Remain Part of Kesoram

In the face of rumours that Birla Tyres is to be demerged from its parent company, Basant Kumar Birla has stated that both the tyre business and its sister cement business will remain part of Kesoram Industries after he cedes control of the company to a new generation. The 87 year old B K Birla Group of Companies patriarch confirmed that, when he retires in about three years’ time, his grandson Kumar Mangalam Birla will be handed the entire business of BK Birla group aside from a small part portioned out to other family members.

“I have not yet decided that how to divide Kesoram,” said Basant Kumar Birla. “But one thing is for sure that the cement business will remain with the company. Even the tyre business too will remain with Kesoram …Only a small portion of Kesoram could be demerged but that is still to be worked out.”

14th August 2007/by Tyrepress Editors

Giti Tire Europe – Link Into Europe

Company News, International News, Product News

Since several years Chinese tyre manufacturers are active on the European tyre market. Although their commitment has been increasing over these years until today there has not been a tyre manufacturer from China that has founded its own representation in Europe which is for example different in the US. Giti Tire Europe B.V. is established in The Netherlands and does not only represent Giti Tire from China but also Gajah Tunggal from Indonesia which belongs to the same corporate group. In doing this, Giti Tire Europe acts as a link between wholesalers such as Romney International, Reifen Gundlach or Doumerc Pneus and the tyre manufacturers Giti Tire China and Gajah Tunggal. Secondly, it acts as an antenna into the European market that detects and collects information and forwards them to China and Indonesia. And thirdly, it is assigned to increase the general coverage of the European markets. Under the direction of well-experienced managers from throughout the continent Giti Tire Europe in particular looks towards the East where markets have an excellent chance to be developed and it also looks towards European OE customers.

7th August 2007/by Tyrepress Editors

Overview: Qingdao Doublestar Tire Industrial

International News

The Qingdao Doublestar Tire Industrial Co., Ltd., which is based in Qingdao (Shandong province), is one of several Chinese tyre manufacturers undergoing strong expansion. The company was founded in 1996 and belongs to the Double Star group that mainly produces the Doublestar brand, but also a secondary brand called Huaqing.

6th August 2007/by Tyrepress Editors

Overview: Aeolus Tyre

The Aeolus Tyre Co. Ltd., which was founded in 1965, is well known in Europe for its truck and OTR tyre brands Aeolus and Henan. The company operates production facilities in the city of Jiaozuo (Henan province) and produces about 2.7 million tyres per annum. In 2005 Aeolus generated an annual turnover of about 420 million euros, and according to company publications by last year turnover had already increased to 520 million euros. In total, Aeolus can produce tyres of 416 specifications and is currently investing in the expansion of its production capacities of 1.2 million units per year. In addition to this, chairman of the board Cao Chaoyang has recently announced that Aeolus will build another tyre factory in which the company plans to produce 5 to 6 million passenger car radial tyres from 2008. Last year the company sold its products in 140 different countries.

Since the end of 2003 Aeolus Tyre Co. Ltd. has been partly listed on the Shanghai Stock Exchange. A legal dispute between Michelin and Aeolus with regards to the infringement of design rights has been settled.

3rd August 2007/by Tyrepress Editors

Maul Scrap Tyres with a Grizzly

The US manufacturer of recycling equipment Granutech-Saturn Systems and its Cheshire based dealer/distributor BTR Group are working together to provide equipment and design expertise to tyre processors throughout the UK. Their latest sales and installations include:

Wheeldon Brothers
With the goal of making steel free granules smaller than 15mm from whole truck and car tyres, Bury’s Wheeldon Brothers Waste commissioned a two-stage process Granutech-Saturn tyre granulation system. The system features a Saturn Model 60-44BGHT tyre shredder with 300hp hydraulic drive system and the Granutech Model 80 Grizzly, a stage-two grinder that effectively separates steel from the tyre rubber while keeping operating costs at a minimum. Plans are currently in the works to expand the processing side of the system to reduce material to as small as 0.5mm.

3rd August 2007/by Tyrepress Editors

Marangoni US Facility now Company Owned

Marangoni Tread North America has finalised purchase of its current manufacturing facility premises in Madison, Tennessee. This transaction concludes a process of expansion and development at the facility as part of the company’s declared aim of further strengthening its presence in the North American market.

The purchase of the 80,000 m2 (including a covered surface area of 14,000 m2) premises required an investment in the region of US$5,000,000. As a result of the purchase, the warehouse, which was previously contracted out, can now be managed directly. Marangoni hopes efficiency in the clearance of customer orders can thus be improved.

Recent expansions to the facility that saw its surface area triple will lead to an increase in production output and double production capacity over the next two years. “Now, approximately 75 per cent of the North American demand can be met locally”, said Bill Sweatman, chairman of Marangoni Tread North America. “This expansion will help us to further improve our response to customer service requirements.”

3rd August 2007/by Tyrepress Editors

Kumho Plans Major Capacity Boost at New Plant

(Akron/Tire Review) South Korea’s Kumho Tire Co. already plans to expand annual capacity at its brand new Changchun plant, nearly doubling tyre build from 3.15 million to 6.3 million tyres. The expansion will take an investment of $108 million, Kumho officials said.

The plant began production on July 27, and will be the primary OE tyre supplier to Chinese carmaker First Automotive Works.

30th July 2007/by Tyrepress Editors

PAACE Automechanika 2007: Not an Ordinary Trade Show

(Akron/Tire Review) Last week, many North American automotive aftermarket professionals – including myself – packed their bags for Mexico City and the annual PAACE Automechanika trade show. The show this year drew more than 550 exhibitors and 19,000 attendees.

In recent years, the show has become known as a place for U.S. companies to explore expansion plans into Mexico and South America. The show is sponsored Mexico’s Industria Nacional de Autopartes (INA) along with U.S. industry association heavyweights: the Automotive Aftermarket Industry Association (AAIA), the Motor Equipment Manufacturer’s Association (MEMA), the Automotive Parts Rebuilder Association (APRA) and the Specialty Equipment Manufacturers Association (SEMA).

Whether you are a first-time attendee or veteran of the show, PAACE Automechanika always manages to amaze and educate about this growing market. According to a 2005 study by the Mexican Ministry of Economy and the INA, the Mexican aftermarket employs more than half a million people at almost 40,000 automotive parts stores and more than 146,000 repair facilities.

24th July 2007/by Tyrepress Editors

Sri Lankan Govt Tyre Factory Reaches End of Line

The bicycle tyre manufacturing facility in the Sri Lankan town of Mawanella operated by the Sri Lanka Rubber Manufacturing and Export Corporation, a body owned and controlled by the nation’s Ministry of Plantation Industries, has ended production and remains closed. Local media reports indicate that plant machinery is in a state of decline and the factory buildings have become ‘dilapidated.’

The plant was established in 1974 under a United Nations Development programme at a cost of £17 million. However the machinery in use was said to be sub-standard, resulting in the poor performance of the company’s tyres in the marketplace.

23rd July 2007/by Tyrepress Editors

NETE Names Gavin Marshall as New Managing Director

After providing more a decade of leadership that has generated impressive growth, Ian Darcy has passed the Mantle of North Eastern Tyre & Exhausts managing director onto Gavin Marshall. Ian Darcy will continue in the new role of Business Development Director. Part of “phase two” of an ongoing growth plan, the company also has plans to open a new location. Scheduled to open in January 2008, the new Knaresbrough site will employ around 20 people, provide 4000 square metres of retail space and store over 20,000 tyres for wholesale distribution.

“Gavin and I have worked closely together for over 10 years and I know he is the right person to provide stability and direction for the next decade of our success. On my part I am delighted to have the opportunity to focus and lead our expansion programme in Knaresbrough,” Ian Darcy commented.

18th July 2007/by Tyrepress Editors