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Germany, North America help Brembo increase nine-month profit

While many markets in Europe continue to prove challenging for Italian brake manufacturer Brembo, Germany and the USA have continued to provide the company with enough growth opportunities to keep the company's revenues ahead of those at this stage in 2011. Overall, the company registered net profit up 59.8 per cent in the first three quarters (49 million euros), with sales up 10.5 per cent (1,045 million euros). Chairman Alberto Bombassei said he remained “convinced that the ability to innovate, along with a constant focus on quality, are the foundation of company’s success, even in a crisis scenario."

13th November 2012/by Tyrepress Editors

Eurotire radials fitted to Perlini dump trucks in Brazil

Italian truck manufacturer, Perlini Equipment SpA has delivered the first 14 of its 90 ton dump trucks fitted with Eurotire rubber from its manufacturing facility in Drobeta Turnu Severin, Romania to the Brazilian port of Santos. The partnership between the two companies is part of a joint program created to promote Eurotire products and Perlini machines. One of the largest steel makers in Latin America, Usiminas will use the trucks at its iron ore mining operations.

13th November 2012/by Tyrepress Editors

Apollo Tyres Q2 net profits up 96 per cent

Apollo Tyres has released its unaudited financial figures for the second quarter of the company's financial year 2012-13 (July to September). Net sales were up 18 per cent year on year at 33.7 billion Rupees (US$ 612.29 million), operating profit rose 55 per cent to Rs 3.8 bn (US$ 135.33 m) and net profit was up an impressive 96 per cent to Rs 1.5 bn (US$ 27.62 m).

7th November 2012/by Tyrepress Editors

Jason Cooper becomes Michelin operational sales manager, CV tyres

Michelin has appointed Jason Cooper as UK & Republic of Ireland operational sales manager for its truck and bus division. Cooper brings more than 17 years of experience with Michelin to the role. This includes the last 18 months as sales process and training manager for Michelin, and four years in a dual role as sales process and training manager and national sales manager for the car tyre product line in Delhi, India.

6th November 2012/by Tyrepress Editors

Vettel scrambles to retain lead as Raikkonen seals first Pirelli win

Lotus driver and 2007 Drivers’ Champion, Kimi Raikkonen sealed the first victory of his Formula One comeback with Pirelli in Abu Dhabi; the 19th of his career. The Finn used a one-stop strategy, fast becoming the favoured method of negotiating a Grand Prix on Pirelli’s second season tyres, stopping on lap 31 to move from the P Zero Yellow soft to the P Zero White medium tyres. Having started fourth on the grid, he took the lead following the retirement of McLaren’s Lewis Hamilton on lap 19, holding it to the finish. Ferrari’s Fernando Alonso used an identical strategy to Raikkonen, stopping three laps earlier, reducing his gap to the lead of the Drivers’ Championship to 10 points with two races to go. He would have closed the gap even more had it not been for the current leader, Red Bull’s Sebastian Vettel, who started from the pit lane after having his qualifying times disallowed.

5th November 2012/by Tyrepress Editors

Deadlock continues at Apollo factory

The deadlock between the striking workers and management of Apollo Tyres Ltd continues with both the parties not reaching a consensus over the issue of recognition of the new union at the company's plant at Waghodia, Gujurat, India, reports the online site Business Standard.

The strike, now in its tenth day, is likely to intensify further as workers have decided to go on a daily fast followed by a hunger strike. On the other hand, the company management has intimated to the labour commissioner that they are averse to the idea of recognising the union called Bhartiya Majdoor Sangh (BMS) formed at the plant.

1st November 2012/by Tyrepress Editors

When it comes to takeover talk, the question is – who’s in play?

Editorial/Comment

Now the dust has settled from the first suggestions that Apollo Tyres was preparing to bid for Cooper Tire, the rumour mill has slowed considerably. There are those that are saying there is no smoke without fire when it comes to the reports published in the Indian and then global press; and there are those that believe it was all a carefully orchestrated publicity manoeuvre. Whatever the truth turns out to be, the interest surrounding this story is a reflection of the facts that the global market is ripe for consolidation and that there are a lot of ambitious tyre companies in and around the top 20 aiming to make it into the top 10.

31st October 2012/by Tyrepress Editors

Vettel unbeatable in India after “masterclass” in tyre management

Red Bull driver Sebastian Vettel completed a perfect win to consolidate his lead in the Formula One Drivers’ Championship in India, using the low levels of degradation experienced with both of Pirelli’s P Zero compounds to finish at the head of a grid that mostly emulated his one-stop strategy. Vettel was fastest in every session to claim his fourth race victory in a row, achieving a similar feat to last year’s visit to the Buddh circuit – Pirelli points out that no other driver has ever led a lap there.

29th October 2012/by Tyrepress Editors

Pirelli to reduce tyres’ performance gap at Indian Grand Prix

Pirelli will take its hard and soft tyre compounds to India when Formula One visits the Buddh circuit for the second time this weekend, just like in 2011, though this year the P Zero Silver and P Zero Yellow tyres are softer compared to their equivalents last year. The tyre supplier says a better knowledge of the circuit and some real data have allowed Pirelli to be less conservative this time, and the brand is confident that these tyres should lead to even closer racing. Last year, the performance gap between compounds was around 2 seconds. Another factor affecting tyre strategy is the 600m pit lane – the longest in F1 – which adds considerable time to pit stops.

22nd October 2012/by Tyrepress Editors

Oudshoorn to leave Apollo Vredestein

Rob Oudshoorn, CEO Apollo Vredestein BV, is to leave the company on 31 December 2012 after 18 years as CEO. Luis Ceneviz, currently CEO of Apollo Tyres South Africa has been named as his “intended successor”. According to the company, Oudshoorn will be joining the executive board of the Dutch Company Pon Holdings. Apollo representatives said they wish him “all the best in his new endeavour,” in a statement announcing his departure.

22nd October 2012/by Tyrepress Editors

The label may counterbalance the end of US tariffs, says CRIA

On its Chinese-language website, the China Rubber Industry Association links the recently-expired US tariff on consumer tyres with the European tyre label – and refers to both as a “double whammy” for China’s tyre makers. The tariff, which the association also called an attempt at trade protectionism, is held responsible for China’s tyre passenger car and light truck tyre exports to the US dropping from 43 million in 2009 to 31 million in 2010 and 27.3 million the following year.

19th October 2012/by Tyrepress Editors

Bridgestone to invest in emerging markets

In its 18 October-announced Mid-Term Management Plan 2012, Bridgestone reported it plans to spend an average of 250 billion yen on capital expenditure projects, half of which will be for strategic tyre projects. Further to this company announcement, a Japan-based reporter for Reuters writes that in the 2013 calendar year Bridgestone will spend 280 billion yen (£2.2 billion) to expand capacity in emerging markets, including India and Thailand.

18th October 2012/by Tyrepress Editors

First phase of BKT’s Bhuj plant commissioned

India’s Hindu Business Line reports that the first phase of Balkrishna Industries’ new Bhuj facility has been commissioned and production at the site has begun. First phase capacity is 25,000 tonnes, with approximately 60 per cent of total capacity dedicated to the manufacture of radials. When in full production it will have a capacity of 120,000 tonnes. The company will boast a total annual capacity of 270,000 tonnes when the project is ready in 2015.

17th October 2012/by Tyrepress Editors

‘No comment’ replies drive further Cooper acquisition speculation

It’s now more than a day since reports of a potential Apollo Tyres acquisition of Cooper Tire & Rubber hit the headlines, and Tire Review observes there has been far more speculation than denial since then – which it says brings into question just what is happening. And while silence may be golden, the lack of comment – or even flat denial – from either party has led to all manner of speculation.

12th October 2012/by Tyrepress Editors

Acquisition report pushes Cooper shares upwards

Shares in NYSE listed tyre maker Cooper Tire & Rubber Co. gained seven per cent yesterday following the publication of news regarding a potential acquisition by India’s Apollo Tyres. Neither Cooper Tire nor Apollo Tyres has commented on the acquisition reports.

12th October 2012/by Tyrepress Editors