Murfitts Industries has resumed its expansion plans – installing new machinery – after suffering a fire. The fire broke out on the evening of 23 April in one of the tyre processing machines. The company said its built-in fire suppression system meant damage was extremely limited. Full operations at the plant resumed 48-hours later.
Speaking at the Russian Economic Forum staged in London, Amtel-Vredestein CEO, Alexei Gurin called for President Putin and the Russian Federation to help boost quality, competitiveness and profitability through backing companies in acquiring businesses, technology and skills. He stressed that Russia should use oil windfall revenues to support companies who acquire western businesses and technology.
Merityre Specialists Ltd opened its newest centre in Reading on 8 April. The new Purley Tyre Care Specialists is part of an ongoing expansion programme, which Merityre is expected to roll out during 2006. The new Purley Tyre Care Centre specialises in wheel alignment and will stock a wide range of products and services from tyres, through to batteries and wheels.
(Akron/Tire Review) Amtel-Vredestein NV says it will invest another $124 million to expand its Voronezh, Russia, tyre plant. The Voronezh II project, previously announced, will see a state-of-the-art tyre plant built on the grounds of Amtel-Vredestein’s existing Voronezh facility. The new plant will produce some 2.5 million Amtel and Vredestein branded tires annually, and could be expanded to 4.1 million tyres.
According to this agreement Amtel-Vredestein will invest $124 million into its new Voronezh-II production facilities. Within this project, state-of-the-art facilities will be built which will produce 2.5 million tyres annually, with a possibility for further expansion to 4.1 million tires per year. Production is set to start in September 2008.
Amtel-Vredestein N.V. has today announced that its new OJSC AV-TO tyre retail subsidiary has acquired 63 additional multi-brand tyre sales and service centres. These are in major cities across Russia – and include the Horoshie Kolesa (“Good Wheels”) and Nordshina chains in St. Petersburg.
Performance exhaust manufacturer Milltek Sport has recently moved into a Logistics and Sales Centre at Pride Park, Derby. This move is the springboard for a new phase of expansion. Chief Executive Phil Millington commented, “This hi-tech Centre is a key factor in our further expansion programme, not only in the UK but also worldwide, since we are now exporting to some 40 countries. Our technical and manufacturing base remains at Ilkeston, where we have a highly skilled and closely-knit team and Pride Park will perfectly complement this.”
(Akron/Tire Review) Goodyear India Ltd. has nearly completed a major expansion at its passenger tyre plant in Aurangabad, India, boosting its annual capacity to 1.8 million tyres. Goodyear hopes the increase in radial production, due to start in June, will help it become one of India’s top selling tyre brands.
(Akron/Tire Review) According to the Rubber Manufacturers Association’s (RMA) Tread Rubber Market Analysis Committee, total tread rubber shipments will increase 2.8% in 2006, up from 1.9% growth in 2005. The increase will be fueled by economic growth, a strong demand for OTR tyres and heavy truck-traffic volumes, the RMA committee reported.
Formula One Autocentres’ has heralded the start of its ongoing expansion plans by officially launching three new state-of-the-art Centres in Doncaster, Harrow and Chesterfield. Formula One Autocentres investment programme will see the fast-fit chain increase its network of centres to 43 nationwide. Continued expansion throughout 2006 will see a further seven new Autocentres Centres opened.
US companies Startech Environmental Corp. and Future Fuels (FFI) in the building of FFI’s own $84 million Waste-to-Ethanol Facility to be constructed in Toms River, New Jersey. “An important fact sometimes overlooked is that waste is an inexhaustible, renewable, ever-recurring resource.”
Joseph F. Longo, Startech Environmental Corp., president Startech also received the Letter of Intent from FFI for FFI’s purchase of a 100 ton-per-day Startech Plasma Converter System (PCS) for installation in the Waste-to-Ethanol Facility in Toms River, scheduled to go online in late 2007. Plans call for the Toms River Facility expansion to include a series of additional Startech PCSs.
In Sri Lanka, the past week has seen considerable interest in trading in the shares of Kelani Tyre and, as a result, the company’s share price rose by 18 per cent.
In 2005 Pirelli & C SpA achieved double digit growth in revenues (+14.6%), operating profit (+32%) and net profit (+31.3%) compared with the previous year. Publishing its 2005 full-year results, the group explained that it had reduced net debt to 1,177 million euros at the end of 2005. At the consolidated level, group revenue totalled 4,546 million euros, an increase of 14.6 per cent from 3,967 million euros in 2004. EBITDA totalled 568 million euros (12.5% of sales), an increase of 21 per cent from 470 million euros in 2004 (11.8% of sales).
(Akron/Tire Review) Tenneco Inc. said it will introduce 575 additional part numbers to its Walker and DynoMax aftermarket exhaust system lines in April, expanding coverage for domestic and import vehicles.
The new SKUs cover cat-back exhaust systems to direct-fit catalytic converters and premium muffler assemblies, and will give Tenneco 92 per cent coverage of the North American car population, the company said.
Crypton Technology Group has announced some internal restructuring plans designed to assist with its growth strategy in the global garage equipment market. Ian Garwood, who was recently promoted to sales manager of Traction Chargers, will now also be responsible for the Crypton, Dieseltune and Wheelforce brands in the US, South America and Canada. Geoff Cross in his role as Sales Development Manager will also widen his duties to include generating a European market entry and growth strategy in conjunction with the current Export team already in place at Crypton Technology Groups’ headquarters in Bridgwater in Somerset.
GSF Car Parts has unveiled its new Newcastle-upon-Tyne branch, opened as part of the company’s 2006 expansion drive. The Newcastle branch opening is the second tier of the GSF Car Parts 2006 expansion programme, following on from the Canterbury opening, earlier this year.
GSF Car Parts will officially celebrate the opening of Newcastle’s doors on Saturday, 25 March with bubbles galore – but not of the champagne variety. Instead, the team at GSF Newcastle have organised a dedicated charity ‘Bubbles’ car wash to raise funds for the Newcastle charity, The Bubble Foundation which supports the children’s Bone Marrow Transplant Unit at Newcastle-upon-Tyne General Hospital. The unit treats babies and children with immuno deficiencies by bone marrow transplantation.
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