Kumho Archives - Page 30 of 51 - Tyrepress

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Kumho Tires Enjoying 2nd Quarter in the Black

Following a less than optimal 2009 Kumho Tires has achieved positive results for the second consecutive quarter of this year. The South Korean manufacturer’s revenue increased 34 per cent year-on-year during the second quarter of 2010 to KRW 628.1 billion (£336.1 million), with operating profit reaching KRW 66.9 billion (£35.8 million) and an operating profit margin of 10.7 per cent. Net profit for the three months to June 30 was KRW 53.9 billion (£28.8 million), contrasting with a loss of KRW 113.2 billion a year earlier.

4th August 2010/by Tyrepress Editors

Kumho Chairman Park to Step Down

Less than a year after taking on the role of Kumho Asiana Group chairman, Park Chan Bup is said to be stepping down due to health reasons. Bloomberg reports that 65-year old Park will become an adviser to the Asiana Airlines business unit upon leaving his current position on July 31. Bloomberg says an e-mailed statement from Kumho Asiana advises that a replacement for Mr. Park has not yet been selected.

30th July 2010/by Tyrepress Editors

Ex-Kumho UK MD Joins Bond International

Steve Tidmarsh, formerly managing director of Kumho Tyre UK, joined Bond International as financial director on the 1 July 2010. According to the company, Bond International has a growth plan to increase business by more than 25 per cent over the next two and a half years and Tidmarsh’s appointment is said be a key part of implementing these changes.

28th July 2010/by Tyrepress Editors

Hankook Results Counter ‘Lacklustre’ Analyst Expectations

Hankook recent record second quarter results contradict the negative predictions of some financial analysts that when Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the likes of Hankook, Kumho and Nexen. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana had commented: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber prices.” It appears these reports failed to take into account the huge profit jumps of 501 per cent and 43 per cent in the first quarter 2010 from Hankook and Nexen respectively and an 18 per cent increase in sales from Kumho – all of which surprised analysts at the time.

23rd July 2010/by Tyrepress Editors

NDI, Nordexx Joins ITMA

The Imported Tyre Manufacturers’ Association has welcomed its second new member in less than a month. Nordexx, the house brand name of Britain’s NDI Tyre & Tube Supplies and of Denmark’s Nordisk Daek Import A – S has been welcomed by ITMA director Peter Taylor, who described NDI’s joining as further validation of the services ITMA provide to its members in what are very challenging times.

20th July 2010/by Tyrepress Editors

Micheldever & OZ Racing Release Wheel/Tyre Packages

Kumho’s UK distributor Micheldever Tyre Services and alloy wheel manufacturer OZ Racing have formed an alliance to make “ultra competitively priced” wheel and UHP tyre packages available through ECSTA Performance Centres nationwide. The tyre maker says that every sort of vehicle from Fiestas to Ferraris are catered for, and purchasers can choose from the OZ Racing line up of rims or the OZ Racing-designed MSW alloy wheel collection. All rims, Kumho adds, are TÜV approved and manufactured to the highest possible standard. The rims are available for cars, SUVs and MPVs in a “vast array” of finishes and sizes from 14 to 22-inch.

12th July 2010/by Tyrepress Editors

ATS Euromaster Wins Leicester City Council Deal

Leicester City Council has appointed ATS Euromaster to supply and service the tyres across its fleet of 883 vehicles, which ranges from civic limousines to 32-tonne refuse collection trucks, and includes over 600 vehicles plated at 3.5 tonnes or below. The new contract will see the fleet supplied with a range of Avon, Taurus, Kumho and Encore tyres and follows a ten year period which saw the council’s tyre needs met by a local independent service provider.

Leicester City Council Fleet Manager Stephen Kerry said: “ATS Euromaster’s wide-ranging expertise also means its staff are as skilled at working on cars and vans as they are on heavy trucks. Plus they’re used to servicing the tyres on all manner of specialist municipal equipment, such as loading shovels, mobile access platforms and compact sweepers,” he adds.

8th July 2010/by Tyrepress Editors

Analysts Expect ‘Lacklustre’ 2Q from Korean Tyremakers

When Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the Hankook, Kumho and Nexen, according to Deutsche Bank. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber
prices.”

7th July 2010/by Tyrepress Editors

Prominent Kumho Stand Reaches International Audience

Displaying a wide range of its products on its generously proportioned stand near the main entrance in Hall 3, Kumho marketing manager Wolf Fuder said the Korean manufacturer had experienced a similar level of traffic at its stand to that in the pre-recession year of 2008. However, the make-up of the visitors was different; Fuder commented that there were “more international guests” and fewer from the domestic German market.

7th July 2010/by Tyrepress Editors

Kumho OE on US Market Fiesta

The all-new 2011 Ford Fiesta is due for its US launch this summer, and Kumho reports that its Solus KH25 will be fitted as original equipment in size P185/60R15. This H-speed rated tyre, the Korean manufacturer states, is engineered to provide high performance grip and handling in all weather conditions while delivering long mileage.

30th June 2010/by Tyrepress Editors

Micheldever Orders 25 More Trailers

Having already taken delivery of 16 new trailers this year – 15 sliding bogie skelletals and one box van – trailer supplier Montracon reports that Micheldever Tyre Services has ordered a further 25 more stepframe curtainsiders. Prior to last year the firm only bought used trailers. According to Montracon, that policy changed a year ago and now the company uses a mix of replacements and additions. The curtainsiders are progressively going to work, distributing tyres to the firm’s 12 wholesale warehouses and 49 Protyre retail sites across the UK and will move over six million tyres a year.

10th June 2010/by Tyrepress Editors

Pirelli & Michelin – Last Men Standing in F1 Tyre Supply Battle?

Numerous media sources indicate the running for next year’s Formula One tyre supply has been all but whittled down to two contenders. At a meeting of the Formula One Teams' Association (FOTA) in Monaco on the weekend, Bridgestone reaffirmed its attention to withdraw at the end of the current season, despite calls from F1 teams for it to remain. Doubts were also expressed as to Avon and Kumho’s ability to supply the required rubber, leaving Michelin and Pirelli as the remaining logical choices.

17th May 2010/by Tyrepress Editors

Kumho Q1 Sales 18% Up Year-on-Year

During the opening quarter of the 2010 financial year, Kumho Tires posted sales of KRW 586.4 billion (₤343.8 million), representing 27.7 per cent quarter on quarter and 18 per cent year-on-year growth. Operating profit during the three months to March 31, 2010 amounted to KRW 21.3 billion (₤12.5 million) and net income KRW 20.9 billion (₤12.3 million). The tyre maker comments that these gains result from an improved plant operation rate and greater export sales. Export volume during the quarter was up 40 per cent year-on-year, an occurrence Kumho attributes the general recovery of North America’s car and tyre markets – one of its key sales territories.

13th May 2010/by Tyrepress Editors

Kumho Partner Manchester United in Road Safety Initiative

Manchester United’s legendary Old Trafford ground turned into a ‘Theatre of Road Safety’ ahead of the game versus Tottenham on Saturday 24 April with some very special guests in attendance to help launch ‘Play Safer’. Developed by Kumho Tyres and the MU Foundation, in conjunction with Greater Manchester Police, ‘Play Safer’ is a new football skills and road safety training programme for children aged five to 11 years. ‘Play Safer’ is said to be the only programme of its kind in the world as it uses the skills of professional footballers – such as vision, awareness, anticipation and control – to teach kids about road safety, which makes it a fun, effective way to save lives. There are 10 road safety skill cards to collect in total, featuring tips such as ‘Control it like Berbatov’ and ‘Play it safe like Van der Sar’.

7th May 2010/by Tyrepress Editors

Nexen’s Q1 Earnings Jump 43%

Nexen Tire Corp.’s first quarter earnings jumped 43 per cent from a year earlier on the back of increased prices, reports Tire Review. Net profit reached 25 billion won (US$22.4 million) in the January-March period, compared with a profit of 17 billion won a year earlier, the company said in a regulatory filing. Sales increased 8.6 per cent to 249 billion won over the cited period, while operating income fell 5.1 per cent to 32.4 billion won, it said.

29th April 2010/by Tyrepress Editors