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Rate fluctuations mean it pays to manage tyre freight effectively

Suffolk-based freight forwarder, Maritime Cargo Services is now one of the UK’s leading freight forwarding specialists in the tyre industry, looking after more than 20 major tyre importers, managing the customs clearance and delivery of containers to well over a hundred tyre warehouses and depots throughout the UK and Ireland. The company is at Brityrex as October's issue of Tyres & Accessories went to print, and with wholesalers looking to implement the best strategy possible to achieve better margins in a stagnant market, the price of shipping is an important consideration. However, as cost and confidence continue to fluctuate, CEO, Rob Shelley suggests that predictability is still far from great.

22nd October 2012/by Tyrepress Editors

Significant higher Conti profits expected in Q3, say analysts

On 31 October Continental AG will host a conference call and tyre division investor day to coincide with the release of the company’s third quarter results. Analysts at Deutsche Bank anticipate that Continental will report revenues of 8.1 billion euros for the quarter, a five per cent year-on-year increase. Other expected results include an adjusted EBIT of 844 million euros – the analysts note that this projected 13 per cent year-on-year growth is driven by Conti’s tyre business – and a net profit of 401 million euros, up 90 per cent on a year earlier.

18th October 2012/by Tyrepress Editors

Grouptyre incorporates Landsail, Rapid into brand strategy

Since the dissolution of its exclusive distribution agreement with the Maxxis brand, Grouptyre has continued to evolve, both in terms of the service offered by members and its brand strategy. While the wholesaler’s managing director, Karl Naylor said that it was “no longer in our customers’ interests for us to be over-dependent on one primary push brand”, the company has been particularly active in relation to its Evergreen brand, extending the Evergreen Performance Centre programme to retailers. In addition, the company has introduced the brands Landsail and Rapid, both of which are focussed on the end of the market particularly sensitive to economic pressure. As it has built the profile and image of Evergreen, manufactured by Jinyu Tire, these brands – also made in China respectively by the Sentaida and Shengtai Groups – have allowed Grouptyre members access to newer, less established margin brands simultaneously.

15th October 2012/by Tyrepress Editors

Triangle reports significant sales growth in key markets

Chinese manufacturer Triangle Tyre shares that it managed to dramatically increase sales volumes in certain markets last year. Particular growth areas were Russia and Brazil, where sales volume growth reached 186 per cent and 179 per cent respectively. South African market sales volumes rose 16 per cent during this period. Sales volumes in Russia are also said to have doubled again in the first half of 2012.

26th September 2012/by Tyrepress Editors

Michelin updates 2015 guidance

Over the summer, Michelin reviewed its capital expenditure programme and 2015 financial outlook. The review followed on from the Group’s interim 2012 earnings performance, which Michelin describes as “robust” and says reflected its strategic vision, competitive strengths and management.

20th September 2012/by Tyrepress Editors

Fuel prices affecting driving habits – BCA report

Following the announcement by the Office of Fair Trading (OFT) that it has launched a review into whether reductions in crude oil are being passed on to motorists, new research from leading vehicle auction company, British Car Auctions (BCA), highlights motorists' continued worries about the cost of fuel.

10th September 2012/by Tyrepress Editors

…So does RHA

The Road Haulage Association has also applauded the news that the Office of Fair Trading have called for information on the UK petrol and diesel sector.

"Diesel accounts for over a third of a haulier's operating costs", said RHA Chief Executive Geoff Dunning. "Between June 2007 and June 2012, diesel prices have risen by 43 per cent; a rise which will no doubt have had a very significant depressing effect on the economy."

10th September 2012/by Tyrepress Editors

PRA welcomes OFT fuel price investigation…

"The Office of Fair Trading’s (OFT) decision to look into petrol and diesel prices is a significant step forward for the Petrol Retailers' Association’s (PRA) campaign for a market study into anti-competitive pricing in the UK fuel market" said Brian Madderson, PRA Chairman.

10th September 2012/by Tyrepress Editors

Raw material prices drive up Giti Tire Corp profits in H1 2012

For the first half of the 2012 financial year, Giti Tire Corporation has reported revenue of RMB 2.06 billion (£205.0 million), a year-on-year decrease of 7.0 per cent. The Giti Tire Pte. Ltd. subsidiary says this decline was a combined effect mainly attributable to decrease in sales volume and increase of average selling price. Lower sales mainly reflected a slowdown in China related to the construction and property sectors, coupled with measures undertaken by the Chinese government to restrict credit availability. The export market decrease was largely brought about by the financial crisis in European markets, Giti Tire Corporation added.

4th September 2012/by Tyrepress Editors

Government "should follow French example" on fuel prices – PRA

The RMI Petrol Retailers' Association (PRA), which represents independent forecourts across the UK, urges the UK Government to follow France in cutting fuel prices.

The French government and the major oil companies have agreed to cut fuel prices by up to 6 euro cents per litre for three months to help drivers hit by a recent increase in prices, said Finance Minister Pierre Moscovici.

4th September 2012/by Tyrepress Editors

MRF looking at rubber acquisition options – but not rushing in

Almost a year ago, MRF chairman K M Mammen told journalists the tyre maker was considering acquiring or leasing a 100,000 hectare rubber plantation in Southeast Asia. Since then, little has been heard on the subject. In recent days, however, Indian newspapers the Hindu Business Line and Business Standard have both quoted MRF executive vice-president of marketing, Koshy Varghese, as saying the company is currently investigating its options.

27th August 2012/by Tyrepress Editors

Oak Tyres moves into new HQ

Oak Tyres has expanded into a new larger head office and warehousing complex in Haydock, Merseyside following recent growth. According to Oak’s finance director Andrew Burgess, the company’s 2010 accounts record annual sales of just over £30 million, a figure that has now grown to £50 million a year.

22nd August 2012/by Tyrepress Editors

Rubber ‘cartel’ acts against price drops

A statement on the International Tripartite Rubber Council’s website shows that the organisation, set up in 2001 to represent the interests of the world’s three largest natural rubber producing countries – Thailand, Indonesia and Malaysia – doesn’t intend to sit back and accept the lower prices the commodity has received of late.

20th August 2012/by Tyrepress Editors

Haulier confident ATS Euromaster tyre policy will reduce costs

East Yorkshire-based haulier HB Holt & Sons has appointed ATS Euromaster tyre and tyre service provider for its fleet of 50 trucks and 74 trailers. The agreement will see Michelin group-manufactured Taurus tyres fitted, as wear dictates, backed up by 24/7 access to emergency roadside assistance.

10th August 2012/by Tyrepress Editors

Bridgestone: Risk of guidance overshoot, says analyst

Commenting on Bridgestone’s second quarter financials, particularly the operating profit of 133.8 billion yen outstripping guidance of 118 billion yen and expectations of 50 per cent year-on-year growth, Deutsche Bank analyst Takashi Moriwaki says the bank sees “risk for a guidance overshoot as profitability is on an uptrend thanks to stable selling prices and declining raw material costs.”

8th August 2012/by Tyrepress Editors