Components manufacturer Accuride Corporation has released its financial results for Q4 2006 and for the twelve months ending December 31, 2006. The company reported Q4 net sales of US$344.9 million, an increase of 15 per cent compared with the same period the previous year. Accuride attributes this expansion primarily to the continued robust demand in the commercial vehicle industry and the partial pass-through of raw material costs.
Just over a year after Michelin North America announced it would invest $92 million setting up production facilities for its X One wide single tyre in Canada, employees at the Waterville, Nova Scotia plant have produced the factory’s first X One tyre ahead of schedule.
(Akron/Tire Review) Purcell Tire Co., based in Potsoi, Mo., has launched expanded retreading operations to handle giant OTR tyres with 51-inch or greater wheel diameters. Purcell officials said the company invested some $5 million in the upgrade, and claims to be the “only tyre retreading company in the world to offer segmented mold retread systems designed to produce both 4000R57 and 46/90R57 haulage tyres, as well as 52/80×57 through 55/80R57 tires.”
2006 was the 6th consecutive record year for B-Quik, the Thailand-based tyre and car services retailer. The company serviced 250,000 customers through its total of 45 centres, of which three were new stores opened during 2006.
Innovative tyre retailer Blackcircles.com has announced two new additions to its executive team as it prepares for another year of exciting growth. Launched in 2001 by managing director Mike Welch (28), the online tyre retailer has set a new quality standard for the tyre industry and strong sales in 2006 has seen it create the two new posts of commercial director and head of finance.
Nokian Tyres’ Board of Directors has decided to start the expansion and capacity increase at its Russian factory early. As a result of the start-up of Phase II, the output of the Vsevolozhsk factory will more than double with the target to reach the production of 10 million tyres by 2011.
As Harvie Prema enters its third year under new ownership, the company’s planned expansion continues with the employment of a new Sales Manager, Mark Prince. Mark brings with him a number of years’ experience in the tyre industry. Additionally, new area salesmen Neil Clatworthy is taking responsibility for the Gloucestershire, Wiltshire. Hampshire and Berkshire regions. Richard Stevenson will service the West Midlands, Warwickshire, Staffordshire, Shropshire and Neil Bale will represent South London, East Sussex, West Sussex, Kent and Surrey.
Ashley Croft, Warehousing, Logistics and Wholesale Sales Director of Micheldever Tyre Services, has resigned from the company. Ashley Croft was one of the original six members of management involved in the Buy Out of the company in February 2006.
(India/Rubber Asia) India’s largest manufacturer of steel cord reinforced converyor belts, Phoenix Yule, has announced plans to expand its capacity by as much as 60 per cent. Phoenix Yule is the company created by the privatisation of the conveyor belts division of the public sector Andrew Yule. According to Rubber Asia, currently 74 per cent of its 460 million rupee (£5.26 million) paid-up equity capital is held by Phoenix of Germany, while the rest is with the Government.
The board of the Ruia group’s Falcon Tyres have approved the merger of their company with Montona Tyres, another company within the group. The announcement was made by Falcon Tyres chairman P.K. Ruia, and once the board of Montona gives their go ahead the decision will be taken before the regional high courts where the tyremakers are based to gain official blessing for the merger.
Automotive component and sealant manufacturer Dupont Performance Elastomers will reportedly retain their Rubbertown factory in Louisville, Kentucky until the end of the year. The company previously announced the facility would close by the end of March.
As Harvie Prema enters its third year under new ownership the company’s planned expansion continues with the employment of a new sales manager, Mark Prince. Prince joins Harvie bringing with him a vast level of experience from the Tyre industry. Additionally, new area salesmen Neil Clatworthy takes responsibility of Gloucestershire, Wiltshire, Hampshire and Berkshire. Richard Stevenson will service the West Midlands, Warwickshire, Staffordshire, Shropshire and Neil Bale will represent South London, East Sussex, West Sussex, Kent and Surrey.
UK based manufacturer of automotive and aerospace components, GKN, is taking its expansion within the Chinese market one step further following the acquisition of one of the country’s leading manufacturers of off-highway wheels. GKN has also announced details of a new investment and joint venture.
India’s largest tyremaker, MRF, recently outlined its plans for expansion at three of its factories. The expansion is estimated to cost somewhere between £58 and 70 million, and will be implemented over a period of two years.
Sibur tyres may soon be available at your local independent garage or tyre fitter. Russia’s largest tyremaker is preparing to launch its push into the UK market at the Brityrex International 2007 show in May.
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