Hangzhou Zhongce largest tyremaker in China
Hangzhou Zhongce Rubber Company (ZC Rubber) was China’s largest tyre maker in 2011, according to figures published by the China Rubber Industry Association (CRIA).
Giti Tire
Posts
GT Radial UK dealers experience WinterPro tyre in Arctic conditions
News16 tyre dealers from GT Radial’s UK Performance Centres and distributor, Micheldever have braved Arctic conditions to complete winter tyre testing workshops at the company’s Mellatracks Proving Ground in Ivalo, Finland. The tyre professionals travelled to Test World, based several hundred kilometres inside the Arctic Circle in the northernmost area of Finnish Lapland, in order to complete four separate tyre tests in temperatures as low as -15°C. A report of the testing is available in Tyres & Accessories April edition, and on Tyrepress.com below.
GT Radial to supply Bartrums after benchmarking exercise
NewsGITI Tire (UK) Ltd. has won a sole supplier agreement with Bartrums Warehousing and Distribution. Operating over 400 motives and trailers, the Suffolk-based transport company specialises in haulage, warehousing and distribution.
With a clear focus on maximizing economy and performance the Bartrum Group has made a significant investment in new vehicles and equipment utilising the latest in telematics technology and maintained to the highest standards by their in-house purpose built maintenance and repair centre, Trumbar Truck Care Ltd.
Firms still signing up as CV Show offers free tickets
NewsMany truck-related and a number orientated business have signed up to exhibit at April’s CV Show. At the same time the partnership behind the exhibition has announced plans to give away free tickets to visitors that pre-register.
One exhibitor that is keen to make the most of its presence is Continental Automotive which is launching a new marketing initiative for 2012 called “Did You Know?” “The idea behind the campaign is to provide question and answer-style information for Drivers and Operators,” explains Jackie Dougall, marketing manager for VDO.
Chinese OEMs aiming for UK debut in 2012
NewsWith the first Chinese brand models set for sale in the UK and various European markets by the end of 2012, Chinese tyre manufacturers with OE-supply deals in their homeland could begin to see a very small amount of pull-through.
While some Chinese cars such as the Shanghai Automotive-owned MG brand are already driving on British roads under local monikers, Geely Automobile Holdings Ltd’s Emgrand EC7 family hatchback and saloon will be something of a first when it goes on sale in the UK. Geely, which is currently mid-way through a UK dealer recruitment programme targeting 40 dealers, appears to be trying to do what Hyundai and Kia have done in recent years and build a position quickly from scratch by offering “good quality, really good value for money and a long warranty.”
Chinese tyre makers lost share value in 2011
Company News, International News, NewsWith China accounting for about 34 per cent of global rubber demand in 2011 and with demand for cars slowing last year in the People’ Republic, the varied economic climate is proving to be a challenging environment for the countries fast growing domestic tyre manufacturers.
According to China Daily and Bloomberg reports, China's economy is forecast to grow 8.5 per cent next year, the least in 11 years, according to the Organization for Economic Cooperation and Development (OECD). Vehicle sales may rise by the least in 13 years in 2011, plunging from last year's record 32 per cent, the China Association of Automobile Manufacturers reported.
GT Radial dealers enjoy Old Trafford hospitality
NewsGT Radial dealers from Scotland and Northern England recently enjoyed full hospitality at the Theatre of Dreams for Manchester United’s home leg Champions League match versus Romanian side Otelui Galati, after winning their places for “exceptional sales performance.”
Gajah Tunggal accused of covenant breach, Moody’s considering rating downgrade
Career TracksMoody's Investors Service has placed PT Gajah Tunggal Tbk's B3 corporate family and senior secured ratings on review for possible downgrade. According to a report published in Indonesia Today, this review action follows “the payment of a dividend to shareholders seemingly in contravention of the covenants of its restructured bonds launched in June 2009, and the resulting alleged claim of covenant breach by an anonymous bondholder.”
GT Radial branded delivery trucks
NewsSeptember 2011 saw the launch of six GT Radial branded trailers in partnership with Micheldever Tyre Services, GT Radial’s exclusive UK distributor. The liveried trailers will are in addition to Micheldever’s existing logistic fleet of 52 units, all manufactured by Montracon.
Credit agencies lower GITI Tire rating, Gajah Tunggal not affected
Career TracksCredit agencies Fitch and Standard & Poor’s have altered their rating for GITI Tire Pte. Ltd. According to Fitch’s latest assessment, “GITI's liquidity is likely to remain strained over the next 12 months because of substantial cash outflows despite the refinancing of the company's notes.”
Brian McDermott to head GITI Tire UK
NewsGITI Tire UK has added five staff members to its number after a summer of interviewing and appointing personnel. Following Richard Lyons’ promotion to the new role of European general manager in May former Pirelli man Brian McDermott has become general manager GITI Tire UK effective 1 November.
GITI Tire (UK) adds regional sales manager to truck tyre team
NewsSteve McDonald has joined GITI Tire (UK) Ltd. as regional sales manager. McDonald started his career in the tyre business in 2003 as sales manager for Cooper Avon Motorcycle tyres before joining Goodyear Dunlop in 2008 as business development manager, managing the North of England and Scotland. Prior to this, he held several key roles as an electrical engineer within the electrical industry.
MIRA test centre named ‘enterprise zone' in government announcement
Company NewsThe MIRA test centre, which is home to tyre and vehicle research facilities belonging to the likes of Dunlop and GiTi, has become an official “enterprise zone” as part of a government announcement. Ministers said 30,000 new jobs would be created by 2015 at the 21 locations spread out across the country of which MIRA is just one. The idea is that by giving cheaper business rates, superfast broadband and lower levels of planning control, business aren’t hindered in their growth.
GITI arranging US$225 million loan
Career TracksSix banks have reportedly agreed to support a Deutsche Bank-arranged US$225 million 3.5-year term loan for China’s GITI Tire. According to Thompson Reuters’ ifre.com website, unnamed banking sources shared the information with the publication. No details of what the loan is intended for have yet been released, but it looks likely to be a refinancing tool. GITI has not officially commented on the reports.
GITI aiming for 10% market share
Company News, UK NewsGITI Tire has appointed Richard Lyons to the position of general manager Europe as part of a series of moves that sees the firm implement a new organisational structure for its European operations. The structure, which took effect 1 May 2011, has been established following the departure of Michael Andre in March. Andre previously held the role of marketing director for passenger car tyres Europe and was managing director of the company’s Giti Tire Germany GmbH Deutschland subsidiary. Hervé Richert, GITI’s executive director, international sales and marketing described the new-look team a “direct consequence of GITI Tire Europe’s growth of business over recent years.” Writing in a statement detailing the reshuffle, he explained that it also follows the company’s “clearly defined strategy of building on strong relationships with its partners and customers with a focus on key markets in Europe and emerging markets” such as CIS and Russia.
