Giti Tire
Northumberland based haulage firm Thompsons of Prudhoe recently reported that it is “extremely pleased” with the cost per kilometre performance of GT Radial tyres. The news follows Thompsons’ decision to test GT Radial tyres including GT659+ regional haul drive, GT686 mixed service drive GT876 mixed service trailer products supplied and fitted by local tyre dealer Hexham Tyre and Battery.
BJ Waters (Transport) Ltd., serviced by UK Tyres Direct in Derbyshire, recently awarded GITI Tire (UK) Ltd. the contract to supply tyres for its fleet of vehicles. A family run haulage business dating back to the early 1920’s, the company operate a fleet of over 50 vehicles from its two midland based depots and specialise in bulk tipper movements throughout the UK and Europe.
In addition Hadfields Transport Limited awarded GITI Tire (UK) Ltd. the tyre supply agreement, which is serviced by Pro-Fit Tyres of Oldham. Operating over 50 vehicles from the company’s new purpose built 62,000 square foot warehouse in Miles Platting, Manchester, the company was established in 1906 and specialises in offering a tailor made service.
GITI Tire’s UK operation has launched a new mixed service drive axle tyre specifically designed for “extreme all terrain conditions.” The new directional, M&S marked, GT686 is available now in 295/80R22.5, 315/80R22.5 and 11R22.5 sizes. According to the company, GT686 benefits from an extra deep tread depth and compounding developed to resist cuts and tread tearing and provide excellent self cleaning. Featuring a robust casing construction with sidewall protection, GT686 has been designed to provide excellent grip and deliver a high mileage performance throughout the life of the tyre when used in tough on and off road conditions.
GITI’s latest news follows what the company said was a “very positive” exhibit at the Commercial Vehicle Operator Show in April. It was here that the GT686 was first showcased also making its European debut at the show was the new GDL617, a long haul drive axle pattern available later this year in a variety of sizes. This new pattern features a compact tread design with a “multi-deep sipe arrangement” and reportedly benefiting from “the latest cool running compound technology.”
GITI Tire (UK) Ltd. has appointed Ben Ashton as the expanding team’s finance manager. Ashton qualified as a chartered accountant in 2004 then worked as a project accountant for a private finance initiative company managing the finances for two of the largest hospital projects in the UK. After this he became financial controller of a small group of companies before joining GITI Tire in May 2010.
The world’s top 10 tyre makers now have a new addition in the form of Taiwanese manufacturer Cheng Shin Rubber. Now that almost all the major tyre manufacturers’ sales figures are in, the numbers show that Cheng Shin Rubber – producer of the Maxxis brand – leapfrogged Toyo and Giti Tire into 10th place in 2009. Last year the company ranked 12th on the Tyres & Accessories leaderboard.
Giti Tire’s decision to postpone its Hong Kong initial public offering, was prompted by market jitters following on from the Greek debt crisis, news agency AFP has reported. Giti, the largest tyre manufacturer in China, decided to hold-off on its $500-million dollar offering on 4 May in what was its second attempt to get such an IPO off the ground.
In addition to the macro-economic concerns that the Greek crisis is symptomatic of, in Hong Kong and China concerns also stem form Beijing’s perceived “appetite for bubble-bursting.”
GITI Tire group of companies (that is GITI Tire and Indonesian manufacturing arm PT Gajah Tunggal Tbk) have appointed Micheldever Tyre Services as exclusive PCR, LTR and 4×4 distributor for the company’s GT Radial and Runway Enduro tyre brands in the UK and Republic of Ireland. Previously GT Radial and Runway Enduro were distributed by Compass Group.
According to the companies, the agreement was completed recently at a signing ceremony held at the head office of Micheldever Tyre Services, attended by Micheldever CEO Paul Fox, GITI Tire (UK) Ltd general manager Richard Lyons and Tim Chesney managing director of Compass Group. Tim Chesney commented: “We have worked very closely and successfully over many years with the GITI Group; to market and promote the two brands. We believe, for the mutual benefit of all parties, it is now time to hand the baton to Micheldever Tyre Services, a long term customer of Compass Group and the leading tyre distribution and retail company in the UK.”
Based on the theme of “Interpreting Industry Legislation and Regulations, Exploring Cutting-edge Technologies and Trends,” event organisers are publicising plans for the second annual Tire Technologies Congress in Shanghai, China. As you might expect the conference will focus on the most controversial legislation and trade issues, but there are will also be technology sessions.
Organisers JFPS Group report that the event will centre on speech delivered by over 20 general managers and research and development directors from leading tyre companies such as: Bridgestone, Goodyear, Giti Tire, Pirelli Tyre, Cooper Tire, SIBUR – Russian Tyres, Apollo Tyres, Toyota Motor Corporation, Dunlop Aircraft Tyres, Doublecoin Tire, Guizhou Tire, Yellow Sea Rubber, South China Tire & Rubber, Hangzhou Chaoyang Tire, Aeolus Tyre, China National Tyre & Rubber Guilin, Bayi Tire.
Albert Bartlett has joined GITI Tire (UK) Ltd. as regional sales manager – truck and bus. Formally with Goodyear Dunlop, Albert has over 36 years experience within the tyre industry selling motorcycle, passenger car, agricultural, earthmover and truck.
GITI Tire (UK) Ltd. has appointed Jenny Leeson as marketing manager – passenger car. Prior to working in the tyre industry, Leeson headed up the marketing department at one of the UK's most successful Mercedes-Benz dealerships. Prior to this she held a marketing position at a housing firm after starting her career at a media and communications company. During this time she gained a CIM Profession Diploma in Marketing, having graduated from university with a BA (Hons) in English Language Studies.
GITI Tire (UK) Ltd has achieved registration to the ISO 9001:2008 internationally recognised internal quality management standard. This independent assessment was conducted by The British Assessment Bureau (BAB) and, say company representatives, demonstrates GITI Tire’s commitment to customer service and quality. Wythenshawe, Manchester-based GITI Tire (UK) Ltd has now earned the right to display the BAB logo to show conformity to the standard. The certification for GITI Tire (UK) Ltd. applies to the supply of truck and bus tyres to the UK market.
Reuters reports that GITI Tire intends to launch a US$400 – 500 million initial public share offer in Hong Kong in the near future. The news agency states that a ‘source’ indicated Giti Tire plans to seek Hong Kong listing committee approval in the coming two weeks, aiming to list shares in April. The deal is, adds Reuters, sponsored by BofA Merrill Lynch and Credit Suisse.
Shandong Linglong Tyre Co., Ltd., the third largest tyre manufacturer in China and approximately number 16 in the world, has announced plans to invest $200 million in the construction of a “world class” proving ground in China. Company president Mr Wang Feng told Tyres & Accessories the investment will be spread over four years and will take the form of a three phase plan, beginning with passenger car tyre testing facilities when the proposed proving ground opens in 2012, and expanding to include truck and OTR testing facilities by the time it is completed in 2016. Currently the company is in the process of getting the necessary government approvals for its proposed plot of land, but Mr Wang said the company plans to be in a position to announce the further details at the end of the first half of this year. And the new facility will be a “First class proving ground in terms of size and quality,”he explained. Considering the relatively low cost of land in China, company representatives highlighted the fact that money it plans to invest in the new site will go a long way. Linglong's proposed investment equates to roughly 10 per cent of a year's turnover ($1.79 billion in 2009; over $2 billion expected in 2010) spread over four years.
Indonesian news sources are speculating that Michelin is positioning itself to take a majority stake in PT Gajah Tunggal Tbk, the Indonesian tyre manufacturer wing of Giti Tire. Michelin currently holds 10 per cent shares in the company and in the next year is expected to receive around 5 million through an off-take agreement with the company.
Indonesian website VIVAnews quoted an unnamed source as saying Michelin will buy a 44 per cent stake, making its total shareholding a majority 54 per cent. Gajah Tunggal director Catharina Widjaja reportedly said she had not heard that Michelin would be the majority shareholder of the company. When asked the same question Herve Richert, Giti Tire director sales and marketing (international), gave Tyres & Accessories a similar reply: “These are media news rumours, that we are not aware of and have no basis.”
Giti Tire (USA) Ltd. announced that Vic Delorio, its executive vice president since 2005, has retired.
The 28-year tyre industry veteran had been on the forefront of the recent battle over higher import tariffs on China-made passenger tyres. “Giti Tire is a remarkable company with a strong presence, the right market approach and is poised for successful growth, not only in North America, but worldwide,” Delorio said.
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