India Archives - Page 36 of 126 - Tyrepress

India

Posts

Brembo 1Q sales and profits soar

Leading brake manufacturer Brembo has posted first quarter 2013 net consolidated revenues of 371.9 million euros, up 6.3 per cent compared to the first quarter of the previous year. Pre-tax profits grew even faster. EBITDA amounted to 47.3 million euros (12.7 per cent of revenues), up 10.2 per cent compared to first quarter of previous year. Meanwhile EBIT amounted to 26.1 million euros (7 per cent of revenues), up 9.3 per cent compared to the first quarter of 2012.

14th May 2013/12,345 Comments/by Tyrepress Editors

Weak tyre, automotive demand weighs on Lanxess in Q1

The earnings posted by chemical company Lanxess in the first quarter of 2013 were lower than the company expected, and it says the weak market environment in the tyre and automotive industries is particularly responsible for this.

10th May 2013/12,345 Comments/by Tyrepress Editors

Bridgestone sales up 9% in Q1

In a quarter punctuated by recovering domestic and US markets, a stagnant and unstable European economy, and slowing economic expansion in Asia, Bridgestone Corporation posted net sales of ¥794.5 billion (£5.2 billion) in the three months from 1 January to 31 March, a year-on-year increase of nine per cent. Operating income amounted to ¥74.4 billion (£483.6 million), 18 per cent higher than in the first quarter of 2012, while operating margin rose 0.7 per cent year-on-year to 9.4 per cent. Ordinary income was up 14 per cent to ¥70.1 billion (£455.6 million), and net income rose two per cent to ¥43.1 billion (£280.1 million).

8th May 2013/12,345 Comments/by Tyrepress Editors

Apollo confirms Passat OE supply

Apollo Tyres has confirmed news of its approval as an original equipment supplier to the Volkswagen Passat. An Apollo spokesman told Tyres & Accessories that “this approval is for Passats manufactured anywhere in the world with same specs as in India.”

6th May 2013/12,345 Comments/by Tyrepress Editors

Apollo opens ASEAN hub in Thailand

Apollo Tyres has opened its sales hub to the ASEAN region in Bangkok. The region has become one of Apollo’s strongest export markets for its India produced tyres, the company said. Over the last three years, Apollo said the region has doubled in sales.

2nd May 2013/12,345 Comments/by Tyrepress Editors

Conti test facility named ‘development tool of the year’

The 29-person international jury presiding over this year’s Vehicle Dynamics Innovation Awards have named Continental’s new weather-independent AIBA tyre testing facility winner of the awards’ “Development Tool of the Year” category.

30th April 2013/12,345 Comments/by Tyrepress Editors

Indian launch for Apollo’s ‘4G’ range

Apollo Tyres unveiled the first of its fourth generation, or 4G tyres at the Geneva motor show in March 2012, and since the release of the Aspire 4G it has introduced further products into this latest generation line-up in Europe. Now the Indian tyre maker is releasing three 4G ranges in its domestic market, and it intends to use these to increase its share of India’s replacement passenger car tyre market.

25th April 2013/12,345 Comments/by Tyrepress Editors

Titan net income down 42.5% yoy in Q1 2013

Titan International has announced “another record quarter” during the first three months of 2012, however the figures behind this impressive-sounding statement make for rather modest reading. While sales are up 24.9 per cent over the first quarter of 2012, the tyre maker only managed a small increase in gross profit, while adjusted net income declined significantly. Earnings per share were less than half what they were a year ago, although admittedly they show an improvement on Q4 2012. Titan says it remains focused on its goals, however, and sees many opportunities in the agricultural and mining sectors where it is most active.

25th April 2013/12,345 Comments/by Tyrepress Editors

Française de roues focusing on original equipment

When listing off the major European alloy manufacturers, it isn’t hard to forget the “Française de roues” plant in Diors, smack in the middle of France. The company, along with Dial, is the only cast alloy wheel manufacturer remaining in France. The wheel maker has been established for a number of years and was known as Montupet before its parent company announced plans at the start of to divest its wheel business to Indian company Deltronix.

24th April 2013/12,345 Comments/by Tyrepress Editors

Michelin Q1 sales down 8.1%

Summing up its first quarter 2013 experience in a single sentence, Michelin states that in the three months to 31 March the “market environment was weak in Europe in passenger car and light truck tyres, disappointing in North America and expanding in the new markets.”

23rd April 2013/12,345 Comments/by Tyrepress Editors

MWSD to debut xlite super singles at Truckfest Peterborough

Motor Wheel Service Distribution (MWSD) will display two new xlite super single forged aluminium wheels on stand A28 at Truckfest Peterborough. Following their February launch, the show will mark the first exhibition appearance for the wheels MWS says are among the lightest on market. A change in profile by manufacturer Wheels India has enabled the load index to be increased to 5,000kg from 4,500kg.

22nd April 2013/12,345 Comments/by Tyrepress Editors

Mini to be made in India

Following growing global demand for its Mini range, owners BMW have announced that the iconic marque will be produced outside Europe for the first time later this year to cater for growth markets in other continents. This is in line with BMW's "production follows the market" strategy.

18th April 2013/12,345 Comments/by Tyrepress Editors

KKR confirms Alliance Tire Group purchase

Kohlberg Kravis Robert (commonly known as KKR) has confirmed reports that it is acquiring a controlling stake in Alliance Tire Group (ATG) from an affiliate of Warburg Pincus. KKR also confirmed that Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the company and partner with KKR to continue to grow the business. Terms of the transaction were not disclosed and so details of current shareholdings and therefore the balance of power are not yet clear. As usual, the transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.

12th April 2013/12,345 Comments/by Tyrepress Editors

Al Dobowi celebrates 20 years distributing Westlake brand

The Al Dobowi Group has been distributing Chinese manufacturer Hangzhou Zhongce’s Westlake tyre brand in certain key markets for 20. The Group’s chairman, Surender Kandhari marked the occasion by presenting Ge Gourong, CEO of Hangzhou Zhongce, with a commemorative gold dagger. The gift, a symbol of strength, is designed to reflect the 20 years of partnership and “years of future growth together”, Al Dobowi states.

11th April 2013/12,345 Comments/by Tyrepress Editors

Report: KKR buying 90% of Alliance Tire Group

India’s Economic Times reports that private equity firm Kohlberg Kravis Roberts (KKR) has agreed to buy a 90 per cent stake in Alliance Tire Group. The deal for a reported US$650 million includes an estimated $125 million in debt.

9th April 2013/12,345 Comments/by Tyrepress Editors