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Apollo buying Cooper Tire, report sources

Indian financial daily The Economic Times states that Apollo Tyres is “in the process” of acquiring Cooper Tire & Rubber Company. The publication’s 11 October news is based on “sources with direct knowledge” of the deal; these sources indicated to The Economic Times that the acquisition could be valued at between US$600 and $800 million and give Apollo a majority share. When Tyres & Accessories contacted Apollo Tyres directly in relation to the news, the tyre maker’s Corporate Brands & Relations manager Rohit Sharan said Apollo “would not comment on market speculation.”

11th October 2012/by Tyrepress Editors

Bridgestone aiming to be the “best and most profitable” in Europe

It’s only a few months since German financial daily the Handelsblatt referred to Hankook as “an aggressive challenger” to Continental. On 9 October the newspaper reported on a challenge facing the German tyre maker from other quarters. In an interview, a senior Bridgestone manager let it be known that the global market leader also wants to play a leading role in Europe in future.

10th October 2012/by Tyrepress Editors

Michelin Guide Great Britain & Ireland out now

The wait is over for those hungry to read up on Michelin’s latest gastronomic tips – the Michelin Guide Great Britain & Ireland 2013 arrives in bookshops today, priced at £14.99 (€16.99 in Ireland). This year’s guide sees three restaurants promoted from one to two Michelin stars. Sketch, in Mayfair, opened in 2002 and received its first Michelin star in 2005; L’Enclume, in Cartmel also opened in 2002 and was awarded its first Michelin star three years later; while Michael Wignall at the Latymer, Bagshot, opened in 2007 and won its first Michelin star in 2009.

5th October 2012/by Tyrepress Editors

No tyres in top 100 brands list

Leading international branding consultancy Interbrand has just published its 13th Annual Best Global Brands report, listing the world's 100 most valuable brands. However, it has to be pointed out that despite the size of some of the industry’s leading brands – and despite their ability to communicate their various brands online (see separate article) – there are no tyre brands in the top 100 this year.

2nd October 2012/by Tyrepress Editors

Plimsoll: An 8th of UK tyre companies heading for ‘rocky ground’

UK tyre manufacturers and distributors are risking their long-term sustainability in order to increase sales, according the latest report issued by Plimsoll publishing. Yet while sales have seen an upsurge, the 127 companies continuing with their current business model are said to be “in danger of spiralling out of control and are heading for rocky ground. “

27th September 2012/by Tyrepress Editors

Analysts: Continental ‘can still surprise’

Some financial analysts have stated their faith in Continental AG’s continuing strong financial performance ahead of the company’s third quarter results.

Upgrading their estimates for the company’s shares performance, Morgan Stanley market watchers said they predict “10 per cent upside to 2012 consensus and circa 20 per cent in 2013-2014,” continuing: “We think valuation and third quarter catalyst make Continental the most attractive investment in the auto industry.”

24th September 2012/by Tyrepress Editors

RHA welcomes charge on foreign hauliers

The news that the Government intends to go ahead with plans to introduce a charging system whereby foreign operators pay to use UK roads gets the thumbs up from the Road Haulage Association.

21st September 2012/by Tyrepress Editors

Michelin updates 2015 guidance

Over the summer, Michelin reviewed its capital expenditure programme and 2015 financial outlook. The review followed on from the Group’s interim 2012 earnings performance, which Michelin describes as “robust” and says reflected its strategic vision, competitive strengths and management.

20th September 2012/by Tyrepress Editors

UK August motorcycle sales rise

The latest new motorcycle and scooter figures show last month sales overall were up 3.1 per cent against August 2011. Under 50cc scooter sales were down 10.6 per cent per cent in August, while all over 50cc motorcycle sales have increased by 6.7 per cent.

18th September 2012/by Tyrepress Editors

Goodyear to present at Citi Industrial Conference

The Goodyear Tire & Rubber Company will webcast its latest presentation at the 2012 Citi Global Industrial Conference in Boston on 19 September. Darren R Wells, executive vice president and chief financial officer, will provide a business overview and discuss the company’s strategies for approximately 40 minutes.

14th September 2012/by Tyrepress Editors

Analysts: US wholesalers de-stocking ahead of Chinese import tariff end

International News, News

The latest figures from the US light vehicle replacement tyre wholesale markets suggest shipments declined 1.9 per cent in August, according to the RMA. However, financial analysts from Deutsche Bank believe there are “several factors contributing to temporary weakness in the market” and that wholesalers are currently inclined towards de-stocking (due to recent raw material cost declines, and the nearing end of Chinese tyre import tariffs. As a result many anticipate lower prices in the months ahead.

13th September 2012/by Tyrepress Editors

Plate auction raises £4 million

We may be in the middle of a financial downturn, but it would appear that some people aren't that concerned, as the DVLA's latest Personalised Registrations auction raised more than £4 million for the Treasury over three days.

13th September 2012/by Tyrepress Editors

Analysts: Conti’s DAX re-entry won’t make immediate waves

Following the news that Continental AG shares will once again be traded on the German DAX list, financial analysts have been assessing the impact that this likely to make on the company’s share price. For its part Morgan Stanley estimated that the impact will actually be “relatively small from a trading perspective – circa 1-2 days of trading volume and circa 1-2 per cent of the current available freefloat.”

10th September 2012/by Tyrepress Editors

Fuel prices affecting driving habits – BCA report

Following the announcement by the Office of Fair Trading (OFT) that it has launched a review into whether reductions in crude oil are being passed on to motorists, new research from leading vehicle auction company, British Car Auctions (BCA), highlights motorists' continued worries about the cost of fuel.

10th September 2012/by Tyrepress Editors

Once again, Conti can relax in the DAX…

Almost four years after being shown the door at the DAX 30, Germany’s Continental AG is set to re-enter the exclusive group of the 30 major German companies trading on the Frankfurt Stock Exchange. Stock exchange operator Deutsche Börse announced Conti’s return to the DAX 30 on the evening of 5 September.

6th September 2012/by Tyrepress Editors