As Kumho Tyre UK comments, winning international design awards has “become something of a habit” for the South Korean tyre manufacturer. For the second consecutive year, it is guaranteed a prize in the automotive and transport category of America’s International Design Excellence Awards (IDEA).
Qingdao Doublestar Tire’s bid to acquire 42.01 per cent of South Korean tyre maker Kumho Tire is developing into a drama of the sort not witnessed since a stubborn Cooper Chengshan Tire helped derail Apollo Tyres’ purchase of Cooper Tire & Rubber. Business Korea writes today that 41 Kumho Tire executives, including chief executive officer Lee Han-seob, intend to resign should Kumho Tire’s creditors sell the share to Doublestar.
The best designers and manufacturers of the year were recognised on 3 July at the Red Dot Gala 2017 event in Essen, Germany, and amongst the products selected by the 9-strong Red Dot judging panel were five tyres; these gained ‘Red Dot’ awards in Product Design. The awarded tyres are the Continental PremiumContact 6, Federal 595RS-RR, Laufenn I FIT, Kumho Crugen HP71 and Nexen N’Fera RU1.
Numerous new size options have been added to the Kumho Solus HA31 all-season tyre range, bringing the total number of available sizes up to 90. The Solus HA31 can now be obtained in 13 to 18-inch fitments, and Kumho says the recent additions to the range cover most of the popular SUVs in the UK market, as well as a wide spectrum of passenger cars.
The latest mud-terrain 4×4 tyre from Kumho Tire is the Road Venture MT51. It slots into the Kumho portfolio below the company’s most extreme off-road pattern, the Road Venture MT KL71, and is said to combine good on- and off-road capabilities. The manufacturer mentions braking on both gravel and tarmac as a particular strength.
Dutch student race team InMotion has set itself the goal of competing in one of the world’s most prestigious sport events: The 24 Hours of Le Mans. On its way to achieving this ultimate goal, it also intends to break the all-time record on the famous Nürburgring Nordschleife. InMotion is currently operating a test platform, the IM/e, which is testing systems for the hybrid race car that will one day take on these challenges, the 400+ km/h IM01. Kumho Tire has been appointed tyre supplier to the IM/e.
Global premium tyremakers continue to lead Tyres & Accessories annual ranking of the leading tyre manufacturers. Owing to the fact that all five of the top five firms have remained stable in their positions, it is difficult to view the chart very differently. Indeed, stability is the order of the day on this year’s table, with 12 of the 20 keep the same positions as last year.
Speaking off the record, Chinese executives within Qingdao Doublestar have confirmed the company’s intentions to purchase well-known South Korean tyre manufacturer Kumho Tyre and that it is “now only Doublestar left to buy Kumho”. However, at roughly the same time, Korean newspapers have been reporting that Doublestar probably won’t have the right to use the Kumho brand name post-acquisition. With all this in mind, Tyres & Accessories summaries the story so far.
The latest development in the negotiations to sell a stake in Kumho Tire is that potential buyer Qingdao Doublestar Tire probably won’t, after handing over KRW 955 billion (£653.6 million) for the 42.01 per cent controlling share, be permitted to use the Kumho name.
Park Sam-koo says he won’t acquire a controlling stake in Kumho Tire from creditors unless they provide a definitive answer on specific conditions of sale. In a statement, Kumho Asiana has given the Korea Development Bank until 17 April to do this, otherwise it will not exercise its right of first refusal.
Kumho’s 4×4 tyre range was recently enhanced further enhanced by the addition of the Crugen HP91 and Crugen KL33 SUV offerings. Add in the cross-functional Road Venture patterned MT51 and established KL71 and between them they cover everything from such top end SUVs as the Range Rover and BMW X5 to the ever-popular Land Rover Defender.
The list of tyre makers intending to implement price increases in the coming time continues to grow. Two further manufacturers have announced price rises in the North American market: On 1 April, Kumho Tire USA will raise the prices for its car, light commercial and truck tyres by up to eight per cent. Toyo Tires USA is looking to lift prices for its car, light commercial and truck tyres by seven per cent.
The new Kumho Ecsta PS91 is now available in the UK and “aimed squarely at supercars and such mouth-wateringly quick passenger saloons.”
Last year Kumho products were honoured with the world’s top three design accolades – the Red Dot Award (Germany), iF International Forum Design (Germany), and International Design Excellence Awards (United States). Add further laurels from Good Design (Japan), Good Design (Korea) and Green Good Design (United States), and it was a bumper 12 months.
Kumho Tire’s sponsorship of German football club FC Schalke 04 has been extended until 30 June 2018. The tyre maker and Bundesliga protagonist first announced their collaboration at the beginning of 2015, and since then Kumho has been represented on LED signage at the club’s home stadium, Veltins Arena, and utilised other advertising options both in the stadium and in team-related publications. These advertising opportunities continue under the extended deal.
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