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Fuel prices still distributors' greatest problem says FTA

The price of fuel is still the biggest headache for transport companies battling to cope with rising costs, with haulage rates failing to keep up, according to a report published by the Freight Transport Association.

FTA's Manager's Guide to Distribution Costs 2011 calculates that the cost of diesel for commercial vehicle fleets rose by 15.6 per cent in the twelve months to 1 April 2011. The second biggest increase was in the cost of overheads, followed by vehicle maintenance. The total rise in vehicle operating costs to 6.8 per cent outstripped the rise in domestic haulage rates, which increased by an average of 3.41 per cent. International haulage rates increased on average by 5.40 per cent.

30th June 2011/by Tyrepress Editors

Sava takes on Goodyear Dunlop name

As of July 1, Slovenia’s Sava Tires will be known as Goodyear Dunlop Sava Tires. This name change was announced by Sava Tires management at a press conference on June 28; the reason given for adopting the new name was that it will bring the Sava operation’s company name in line with the other Goodyear Dunlop Tires Europe companies. Furthermore, it is expected the new name will give the company greater visibility and strengthen its market position.

30th June 2011/by Tyrepress Editors

Transense AGM reports “huge progress”

Transense, the saw-wave RFID company that has developed the Translogik range of TPMS and related technologies, has made “huge progress” in the last three years. That’s the view of the firm’s board which released an AGM statement on 29 June lauded the businesses improvements. “Transense is now in a position to leverage its technological expertise and a much broader range of technical projects are now underway. In fact, there are more live development projects now than at any time in the company's history, such that the medium to long term future looks promising,” the statement explained.

29th June 2011/by Tyrepress Editors

Grouptyre membership “key” in B.A.B. Distribution expansion

Grouptyre member and wholesale operation of BA Bush & Son, B.A.B. Distribution has announced an expansion of its operation along the east coast of England. The company currently operates 17 centres across Lincolnshire, East Yorkshire, Humberside and Cambridgeshire, having opened four new facilities over the past two years, and it now aims to have 20 outlets by the end of the year on the back of continued growth. The wholesale group says the expansion shows that it is committed to growing its market share by investing to improve the supply chain.

28th June 2011/by Tyrepress Editors

MRF plant lockout ends

Indian tyre maker MRF Ltd reports that the lockout at its factory in Kottayam, Kerala state, was lifted on the morning of June 24. Two days earlier the company informed the Bombay Stock Exchange it had implemented the lockout on account of “labour unrest in the factory.” While MRF’s own announcements do not elaborate on the issue, The Financial Express newspaper's coverage of the incident cites a union source, who explains the lockout as being the “fallout of a dispute between an employee and a supervisor over alleged unauthorised leave.” Specifically, the anonymous union source alleges the employee was not permitted to go on duty on June 18 and other workers then staged a walkout as a mark of solidarity. The plant is said to have lost around Rs220 million (£3 million) during the four days it was out of operation, the financial daily added.

24th June 2011/by Tyrepress Editors

RAC sale speculation began in March

Speculation that Aviva was planning to sell RAC begin in March 2011 and followed the earlier sale of a number of subsidiary motoring related businesses that came with the company’s 2005 purchase including Auto Windscreens, Lex (the vehicle leasing company) and the BSM driving school operation.

23rd June 2011/by Tyrepress Editors

Carlyle Group confirms it's buying RAC from Aviva for £1 billion

The Carlyle Group (an asset management firm) has confirmed that it has reached an agreement to acquire RAC Limited from Aviva plc for £1 billion. The deal is subject to regulatory approval, but is expected to complete by the end of the third quarter of 2011. Moving forward Carlyle’s strategic involvement appears to centre on the access to “additional capital for future investment” it can provide for expansion into other areas of motor service amongst other things. And the intention appears to be to expand “in the area of the motor services market.” Aviva bought RAC for £1.1 billion in 2005.

23rd June 2011/by Tyrepress Editors

Standard Retreads and Kraiburg celebrate 5 years of cooperation in Ajman

Austrian retreading materials supplier Kraiburg sees the market for HGV retreads in the United Arab Emirates (UAE), and in Dubai in particularly, as offering “unequalled” opportunities. For retreading businesses standing one’s ground in such a limited sized market when competing with a large number of rivals was hard enough when the economy was still booming and much trickier in the current climate against the backdrop of the financial crisis. Against all the odds, Kraiburg reports that Standard Retreads can now look back on a “five-year success story.”

21st June 2011/by Tyrepress Editors

Ruia tipped to make further automotive sector purchase

The buy-up of automotive component company’s by India’s Ruia Group is said to be continuing. The Economic Times reports the company is in discussions regarding the purchase of Autoline Industries, a Pune based vehicle body product manufacturer. Autoline Industries achieved revenues of Rs 6.6 billion (£88.8 million) in the last financial year, with some 85 per cent of its income coming from Tata Motors. The Ruia Group, who owns the Dunlop, Falcon and Monotona tyre brands in India, has already purchased six automotive component companies since 2008.

20th June 2011/by Tyrepress Editors

Goodyear to webcast Deutsche Bank presentation

The Goodyear Tire & Rubber Company will broadcast its Deutsche Bank Securities Inc. Global Industrials and Basic Materials Conference on its investor relations website. The conference takes place in Chicago on Thursday, 16 June, where Darren R Wells, executive vice president and chief financial officer, will discuss the company’s strategies and field questions from analysts and investors.

14th June 2011/by Tyrepress Editors

Strike at Kumho China plant over

A three-day strike at a Kumho tyre factory in China has reportedly ended. Workers allegedly downed tools at Kumho Tire’s Changchun City plant in northeast China in protest against low wages. More than 400 workers agreed upon a return to work last Saturday, a Kumho official told the Shanghai Daily.

14th June 2011/by Tyrepress Editors

Bridgestone to invest in Costa Rica production and services

International News

Two planned investments will increase Bridgestone’s presence in Costa Rica: The local subsidiary of Bridgestone Americas Tire Operations (BATO), Bridgestone de Costa Rica, has announced the company’s new Financial Shared Services Center for the Latin American Region is to be located in the Central American country. Bridgestone also confirmed it will invest US$70 million in its La Ribera de Belen tyre factory in Heredia province over the next five years.

6th June 2011/by Tyrepress Editors

Bond International joins ITMA to “stay on top” of EU import regulations

UK importer and wholesaler Bond International has joined the Imported Tyre Manufacturers’ Association (ITMA). As the exclusive UK distributor for several brands, the company says it will benefit from ITMA’s expertise and access to the latest EU legislation and regulations, in ensuring that its imported tyres remain fully compliant for sale in the EU. “The number of laws and technical requirements for importers and manufacturers looking to sell tyres within the EU can be quite daunting and overwhelming,” explains Steve Tidmarsh, financial director, Bond International.

2nd June 2011/by Tyrepress Editors

Material costs squeeze JK Tyre 2011 profits

Reporting on the financial year that ended March 31, 2011, JK Tyre & Industries Ltd. notes that the selling price increases implemented for its products were unable to keep pace with raw material cost increases, and this adversely impacted upon the company’s margins. Therefore, despite a 30.9 per cent increase in net sales to Rs 59,454.4 million (£806.9 million), the Indian tyre maker’s before profit tax dropped 64.2 per cent to Rs 1,119.6 million (£15.2 million) and net profit declined 71.5 per cent to Rs 625.5 million (£8.5 million). Revenue from the company’s operations in India accounted for 80.0 per cent of total net sales and the former Tornel facilities in Mexico the remaining Rs 11,343.5 million.

26th May 2011/by Tyrepress Editors

Indian trucking organisation threatens Apollo boycott

Indian media sources report that the All India Motor Transport Congress (AIMTC), an organisation said to represent around seven million trucks, has announced plans to cut supplies of raw materials to Apollo Tyres’ factories in Tamil Nadu, Kerala and Gujarat. On top of this, the AIMTC apparently intends to block the supply of Apollo products to the market. The reason for this action is said to be discontent with the price increases Apollo has implemented in recent times, and other tyre makers are also under threat of boycott.

25th May 2011/by Tyrepress Editors