Three sources “close to the matter” have shared with Reuters their expectation that Sinochem Holdings will retain its stake in Pirelli despite Italy’s Golden Power Decree restrictions. One commented that China may view an exit from Pirelli as a “reputational setback” at a time of “tenser relations” with Western countries.
Pirelli reports that the shareholder agreement between Camfin SpA and LongMarch Holding S.à.r.l. first signed on 13 May 2020 and modified on 30 June 2021 has been renewed for a further three-year period. The agreement thus remains in place until 13 May 2026.
The first phase of the China-Pakistan joint all-steel radial tyre plant, Service Long March (SLM), has been officially put into production, with an annual output of 740,000 sets of all-steel radial tyres.
Camfin S.p.A. (Camfin) and Longmarch Holding S.à.r.l. (Longmarch), an investment vehicle owned by the Chinese Niu family which owns Chinese tyremaker Hixih, have entered into an agreement concerning the acquisition of shares in Camfin shareholding by Longmarch. The agreement represents the fulfilment of an April 2020 accord between Camfin and Longmarch, which included a call option for 4.89 per cent of Pirelli and means Camfin now owns 14.1 per cent of Pirelli.
On 1 April 2020 Camfin SpA, a key shareholder in Pirelli which shares the Italian tyre manufacturer’s close connections with Marco Tronchetti Provera, announced that Camfin and Longmarch Sàrl had signed “a preliminary and non-binding Memorandum of Understanding [MoU] to evaluate a possible strategic partnership, aimed at developing activities in private equity, including the healthcare sector. However, while Camfin is an investment company and Longmarch is a separate Luxembourg-based vehicle, the two firms are related to Pirelli and the Chinese Hixih Rubber Group respectively. And therefore, the latest news could also indicate that Pirelli and Hixih are moving closer together.
After being named Truck & Agricultural Tyre Supplier of The Year in both 2015 and 2016, last year Kirkby Tyres went home from the NTDA Tyre Industry Awards ceremony in October with the trophy for Tyre Wholesaler of the Year. The 2017 award was for Kirkby perhaps the crowning moment in a year that saw its original equipment and OE2 business continue to grow as well as work progress on its warehousing expansion programme. This expansion will be completed during the course of 2018 and is expected to enhance Kirkby’s operations. The wholesaler also anticipates an increase in its OE/OE2 activities and is introducing several other important agricultural products.
Kirkby Tyres’ 2017 expansion programme will see its first warehouse completed in December 2017, with the 80,000sqft of new floor space, across nine additional new warehouses, fully operational by March 2018. In total, Kirkby will fit in 2,500 additional tyre racking units, enabling 8.9m high tyre storage facilities. The wholesaler will also add 10 more loading bays to its operation. In order to realise this expansion, Kirkby purchased three acres of land adjacent to its Speke headquarters, allowing it to increase its stock capacity and further improve its logistical operations, and increasing its total footprint to approximately nine acres. Kirkby added that the expansion would require more local personnel to be employed, and enable the company to offer customers a wider range of brands, sizes and applications.
UK wholesaler and specialist in commercial vehicle products Kirkby Tyres continues to leverage its exclusive distribution deals in order to deliver the right tyres to the UK’s evolving commercial vehicle segment. The Speke, Liverpool based company has exclusive distribution agreements with Double Coin, Sailun and Longmarch, and these relationships are allowing it to fulfil customer requirements. “We believe that long-standing business relationships are essential,” Kirkby’s spokesman told Tyres & Accessories. “It is through such relationships that we are able to offer our customers assurance of quality, continuity of supply and a full manufacturers’ warranty.”
The largest stock of agricultural tyres in the UK can be found at Kirkby Tyres. More than 30,000 agricultural products – a range covering more than 600 tread patterns, over 800 sizes and at least 2,500 agricultural SKUs – are currently housed in the wholesaler’s warehouses in Liverpool and Dublin. Marketing manager Adam Bromilow tells to Tyres & Accessories that Kirkby’s agricultural range is “unrivalled” in the UK and Ireland, and it is this availability (Kirkby recently doubled the size of its Liverpool facility), combined with a policy of free next day delivery that is supported by a new warehouse management system, that led to Kirkby Tyres being voted Truck and Agricultural Tyre Supplier of the Year for a second consecutive year at the 2016 Tyre Industry Awards.
Despite the current super competitive truck tyre marketplace, Kirkby Tyres reports that the Liverpool-based tyre wholesaler has maintained both its volumes and market share across both the replacement and original equipment markets. The firm has done this with three brand strategy (Double Coin, Sailun and Longmarch) as well as by offering free next day delivery.
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Liverpool-based wholesaler Kirkby Tyres & Wheels has expanded to become one of the biggest – if not the biggest – wholesalers of agricultural tyres and wheels in the UK and Ireland during its 60-plus year history. The distributor now boasts a range of more than 6,000 different product lines, with sole distributorship deals on Alliance, Double Coin, Longmarch, Malhotra and Sailun brands within certain segments. It was also appointed as the wholesale distributor for Trelleborg’s premium agricultural tyre products, alongside Trelleborg Wheel Systems’ direct tyre dealer network.
Liverpool-based wholesaler Kirkby Tyres & Wheels reports that its brands continue to perform well in the UK market, with new Double Coin sizes, solid Sailun performance and the new Longmarch range making the headlines.
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Chaoyang Long March
Pirelli