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Cooper confident about 2013

Financial analysts has spoken of Cooper’s confidence in its continuing business outlook following presentations to investors at a Detroit roadshow.

Explaining their renewed confidence, the analysts put this down to “notably improved” product mix, cost competitiveness and recent pricing activity. As far as the import question of how Cooper will fair post import tariff, the Deutsche Bank analysts highlighted that since the tariff was implemented, “the cost of producing tyres in China has increased faster than other regions (the cost gap was 30 per cent at the time of tariff implementation but has declined to a 10-15 per cent).

16th January 2013/by Tyrepress Editors

Kraiburg offers Turkish retreaders TSE-ECE 109 support

Kraiburg Austria recently offered Turkish retreaders information on the introduction of the TSE-ECE 109 regulation in an event organised by Tatko Otomotive Istanbul. The distributor invited 40 customers who are affected by the implementation of the Turkish tyre labelling requirement. The Turkish retreaders have been given just six months to meet the requirements. Tatko has already been certified as conforming to TSE-ECE 109 for its own retreading business for three years.

16th January 2013/by Tyrepress Editors

2012 a record year for Continental

Continental AG reports that 2012 was another record year for the automotive supplier. Despite slumping auto markets in Europe, the corporation reports in preliminary figures that it boosted 2012 sales by more than 7 per cent to approximately 32.7 billion euros. At around 10.7 per cent, the adjusted EBIT margin topped the previous year's figure of 10.1 per cent.

14th January 2013/by Tyrepress Editors

BEN Scotland Ball date

BEN has announced the date for its 2013 BEN Scotland Ball. An acknowledged highlight of the Scottish automotive calendar, the Ball is now in its 15th year and is returning to the prestigious Crowne Plaza Hotel Glasgow on Saturday 2nd March 2013. The Ball is a key fundraising event for BEN which, thanks to activities such as a charity auction, traditionally raises a substantial sum for the charity.

11th January 2013/by Tyrepress Editors

Over 1,000 Matteuzzi computer controlled buffers installed globally

The fact that Matteuzzi Srl has always been focused on international markets means that the company has no fear of the current financial crisis. While many Italian companies have pursued internationalisation in recent years as a lifeline out of the difficulties of the internal and European markets, Matteuzzi has been working this way since the early 1970s, making it a key part of its business. Today, with communications even easier thanks to the internet, the Bologna-based company exports 95 per cent of its production and offers customers an English-language website.

8th January 2013/by Tyrepress Editors

Range and service two major Cambrian strengths

In its more than four decades in the business, family-run Cambrian tyres says it has always taken pride in the quality and speed of the service it offers and the friendliness of its approach. This service is provided by a team that boasts an impressive 225 years of combined experience in the motorcycle and tyre industries. Cambrian says its team’s experience gives it a “massive lead” over its competitors when it comes to tyre, motorcycle, technical and industry knowledge; several of the company’s staff have worked at senior levels at motorcycle tyre manufacturers.

7th January 2013/by Tyrepress Editors

Scooter, small motorcycle sales remain stable in depressed market

Late last year Tyres & Accessories spoke to Peter Smith, joint managing director of one of the UK's leading motorcycle and scooter tyre wholesalers, for an overview of the ‘PWT’ (powered two wheeler) replacement tyre market in 2012 as experienced by Bike Tyrestore.

4th January 2013/by Tyrepress Editors

Conti refinances syndicated loan

With the aim of further improving its financing structure and maturity profile, while enhancing its flexibility, Continental has refinanced its syndicated loan, which is due in April 2014. Within the scope of the planned refinancing, the loan volume is to be reduced slightly – to a total of 4.5 billion euros – and split up into two tranches with different maturities: a 1.5 billion euro term loan with a term of three years, and a five-year revolving 3 billion euro credit facility. Conti also intends to “ease the documentation complexity” through this refinancing.

2nd January 2013/by Tyrepress Editors

Trelleborg to alter organisational structure

At its Capital Markets Day earlier this month, Swedish firm Trelleborg outlined a new organisational structure. As of 1 January 2013, the Trelleborg Group will be divided into five business areas; Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The company says the new arrangement makes for a “more focused” organisational structure.

20th December 2012/by Tyrepress Editors

Apollo wins Asia Responsible Entrepreneurship award

In a ceremony held on the evening of 13 December, Apollo Tyres was conferred with Asia Responsible Entrepreneurship Awards (AREA) 2012 South Asia. The company received this award in the Health Promotion category for its HIV-AIDS initiative. Sunam Sarkar, chief financial officer, Apollo Tyres Ltd received the award from the Enterprise Asia Team.

14th December 2012/by Tyrepress Editors

Use the driving test to boost winter tyre knowledge, says Kwik Fit

Demand for winter tyres at Kwik Fit has quadrupled over the last four years, and the company anticipates a continued rise in orders. However the fast-fit network concedes that only a small number of UK motorists are purchasing season specific tyres and it says research shows that 68 per cent of drivers are uninformed about the differences between cold and warm weather tyres, while 23 per cent haven’t even heard of winter tyres.

6th December 2012/by Tyrepress Editors

MRF profits down in Q4, full year

Indian tyre maker MRF Ltd has reported a 58.3 per cent drop in net profits during the quarter ended 30 September; profits declined from Rs 3,954.4 (£45.1 million) million in the corresponding quarter of last year to Rs 1,647.6 million (£18.8 million). The company said the lower profit results were the product of raw material price fluctuations plus increasing power and fuel costs. The depreciation of the rupee also played a role, said MRF.

4th December 2012/by Tyrepress Editors

Vettel, Alonso prove class in fascinating F1 season

Red Bull’s Sebastian Vettel claimed his third consecutive world title at the dramatic Brazilian Grand Prix, as McLaren’s Jenson Button took his third win of the season. Vettel stopped four times in his sixth place finish, having lost time with a spin and sustained damage following contact with another competitor on the opening lap. His nearest championship rival Fernando Alonso could only finish second behind Button, meaning his valiant season in what was largely thought of as a comparatively uncompetitive Ferrari ended four points short of victory. Vettel became the youngest ever triple world champion on Pirelli’s P Zero Silver hard and P Zero White medium tyres, with the Cinturato Green intermediates playing their part in damp conditions.

26th November 2012/by Tyrepress Editors

Repositioning taking place at the top of Pirelli

There is a governance battle going on at the upper echelons of Italian tyremaker Pirelli, according to various news sources. According to the Financial Times, Marco Tronchetti Provera, chairman and chief executive of Pirelli has invited two private equity groups to buy out competing shareholders in what is being described as “an effort to shorten the chain of command at the group.”

22nd November 2012/by Tyrepress Editors

1,400 vehicle recycling fleets signs to use Michelin tyres

Michelin will supply tyres to recycling and resource management company SITA UK across its fleet of 1,400 vehicles after signing Michelin’s largest ever pence-per-vehicle-per-month deal with a “stop loss” policy incorporated. The three-year deal is structured to give both companies a shared financial incentive to reduce tyre damage over the longer term, particularly when it comes to SITA UK’s operations on landfill sites and in waste collections where tyre damage is more likely to occur.

20th November 2012/by Tyrepress Editors