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Slight dip for Hankook in Q1 2014

Revenue and operating profit at Hankook Tire was marginally lower year-on-year in the first quarter of 2014, the company reported on 30 April. Global sales revenue amounted to KRW 1.675 trillion (£958.9 million) between 1 January and 31 March, 0.3 per cent lower than the revenue achieved in the first quarter of 2013. Operating profit in Q1 2014 was KRW 260.1 billion (£148.9 million), 0.7 per cent less than a year earlier. Operating profit to sales ratio was 15.5 per cent.

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Goodyear posts Q1 results, confirms targets

While Goodyear Tire & Rubber has expressed satisfaction with the US$373 segment operating income earned in the first quarter of 2014, chairman and CEO Richard Kramer acknowledged the effect of ‘headwinds’ in emerging markets during the three-month period, particularly the impact of Venezuela on the company’s Latin America business. Segment operating income was up 24 per cent year-on-year and had a margin of 8.3 per cent; this is the fourth consecutive quarter where SOI margin has exceeded eight per cent.

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  1. Goodyear says net income a Q3 record
  2. Pirelli – 20% More Capacity by end of 2011
  3. Goodyear earns well in Q3, globally and in Europe
  4. Reasonable First Half Growth for Goodyear in EMEA, North America
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Dunlop Aircraft Tyres appoints EMEA general sales manager

Patrice Moreau Dunlop Aircraft Tyres

Birmingham aviation tyre manufacturer Dunlop Aircraft Tyres expanded its team earlier in the year with the appointment of Patrice Moreau as general sales manager for Europe, the Middle East and Africa. Reporting to sales and marketing director David Skepper, Moreau joins with more than 19 years’ experience in commercial and business aviation.

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  1. Continental creates fleet departments with truck tyre unit appointments
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  4. Mäkinen takes on Nordic market responsibility at Mitas
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Toyo Tires becomes AC Milan premium sponsor

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An agreement concluded today between Toyo Tire & Rubber and Associazione Calcio Milan – AC Milan – gives the Japanese tyre maker Premium Sponsor status with the football club until June 2016. Toyo says the sponsorship deal will influence its global branding content and help the company to “more clearly bring out the potential premium image of the products we offer.” It anticipates “significant” medium-term advantages will result from the partnership in Europe and Asia, and in two regions where Toyo is “contemplating market expansion” – the Middle East and Russia.

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  1. Toyo AC Milan sponsorship promoted in new video
  2. Latest Toyo figures show tyre business growth
  3. Branding expert a football sponsorship sceptic
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Full Zeetex tyre range launched for EMEA dealers in Thailand

Zeetex tyre launch

Following on from their European launch in February, the new series of Zeetex brand passenger car, 4×4 and light commercial tyres have been presented to 40 Africa, Middle East and ASEAN dealers. The six new models offer better road-handling and traction while delivering longer mileages, according to Zeetex distributor ZafcoTrading, and were unveiled on 20 […]

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  1. Treadsetters, TIA showcase extended Torque range at Reifen 2014
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Urbanising Kuwait fuels continued imported passenger car tyre demand

Kuwait’s high rate of urbanisation and purchasing power will lead to continued opportunities for imported passenger car tyres, a new report on the country’s automotive segment has revealed. With about 95 per cent of the country’s population residing in urban areas, and private car demand rising, imported PCR tyres have led tyre demand, though the TechSci Research report also suggests that commercial vehicle demand could follow increased mining and oil drilling investments.

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  1. EU Passenger Car Tyre Sales up 12 per cent
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Singex: Tyrexpo Africa 2014 ended on a high

Tyrexpo Africa 2014’s organisers Singex are describing the show as a success, saying “it lived up to its reputation once again as the major tyre event of the year on the African continent”. According to the company, the show – held from 4 to 6 March at the Sandton Convention Centre in Johannesburg, South Africa – showcased “the widest selection of new brands of leading South African and international manufacturers” and featured 134 exhibitors and welcomed about 1,200 visitors from 17 African and international countries.

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  1. 17,421 trade visitors from 120 countries attended Automechanika Middle East
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De Bok leaves Goodyear

As of the start of this month, Arthur de Bok is no longer with Goodyear. De Bok stepped down as senior vice-president – Sales and Marketing Excellence at Goodyear Tire & Rubber on 28 February. He took on this role on 1 December 2013. Prior to this most recent role, de Bok was president of the tyre maker’s EMEA (Europe, Middle East and Africa) business unit, a position he held since February 2008, and before that was president of the company’s European Union business. De Bok joined Goodyear in January 2002, taking on the role of vice-president of Goodyear-Dunlop Europe.

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Pirelli presents F1 tyre range as final pre-season test gets underway in Bahrain

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P Zero White medium tyres

Pirelli has detailed the characteristics of its Formula One tyre 2014 specification as teams begin their final four day preseason test in Bahrain. The compounds and construction have generally been made stiffer across the range, while the Cinturato Blue wet tyre has increased its water dispersal by five litres per second.

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Related news:

  1. Pirelli announces tyre allocations for first four F1 grands prix
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Apollo entering Qatar tyre market

Apollo Tyres has announced plans to enter the growing Qatar tyre market in the Middle East region. According to the company, the market entry was marked with a product introduction to the Business Partners in Qatar, in the presence of Indian Ambassador to Qatar, H E Shri Sanjeev Arora, late evening yesterday.

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  1. MRF Limited
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Michelin considering Iranian tyre market

Michelin is considering the option of resuming exports of its car and truck tyres to Iran after international sanctions are lifted. According to a report in the Wall Street Journal dated 11 February, Michelin was amongst 100 French company executives that visited Tehran in early February to assess the business opportunities.

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  1. France and Iran sign tyre technology exchange MoU
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New Sailun Vietnam tyre factory on line, employing 850

Sailun Vietnam factory

Sailun’s Vietnam factory, its first manufacturing facility outside China, is now fully online having opened officially opened on 30 November. The factory is currently expected to supply 7.8 million tyres annually to the Middle East, South East Asia and South America, employing 850 people.

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  1. Bridgestone’s “Duke” Returning to Japan
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Goodyear reports 27% increase in 2013 operating income

Goodyear Tire & Rubber Co. has reported full-year 2013 annual sales of US$19.5 billion, down 7 per cent from 2012. However, operating income was up 27 per cent compared with 2012 at $1.6 billion. Reference to the news that Sumitomo and Goodyear are looking to end their international joint ventures were noticeable by their absence from the official results reports. The company reported that it generated more than $1 billion of free cash flow from operations, resulting from higher net income and a $415 million benefit from working capital.

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  1. Goodyear earns well in Q3, globally and in Europe
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Report: Passenger car tyres dominate Iran with 70% market share

According to the recently published report by TechSci Research “Iran Tyre Market Forecast & Opportunities, 2018”, the tyre industry in Iran is projected to grow at a CAGR of around 7 per cent during 2013-18, in revenue terms, as a result of continuous increase in tyre demand from OEMs and replacement market. One of the major reasons for growing OEM demand can be attributed to the fact that more than 50 per cent of the total fleet of automobiles in Iran is over 25 years of age. Furthermore passenger car tyre sales are already dominant in Iran, with a market share estimated at 70 per cent.

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  1. Iran’s tyre manufacturing output refocuses on heavy tyres
  2. Pyramids Tires: $350 million Egyptian factory begins manufacturing
  3. Dmack to launch PCR, TBR tyre range through regional partners
  4. Apollo contemplating new regional expansion
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Cooper Tire Europe sponsoring Arsenal

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Arsenal Cooper Sponsonsorship

Cooper Tire Europe has announced that it is sponsoring Arsenal Football Club in a multi-year deal. The partnership, which will begin before the start of the 2014/15 season, will see the Melksham-based tyre manufacturer become an official partner to the north London club. The exclusive sponsorship designates the Cooper brand as the first “Official Tyre of Arsenal Football Club” for Europe, Russia, Middle East, South Africa and selected north African countries and links the company’s passion for performance to football through the development of various advertising campaigns, consumer marketing programmes and promotions. No details of how much has been invested in the partnership have been revealed.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Continental to discontinue football World Cup sponsorship
  2. Yokohama’s Chelsea shirt deal worth up to £200 million
  3. Falken Tyre becomes Liverpool FC partner
  4. Nexen Tire advertising at Everton, Spurs, Southampton and West Ham
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