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Apollo deal an ‘overambitious move’ – LKP Securities

Shares in Cooper Tire & Rubber have fared well since news of the tyre maker’s impending acquisition was announced. When the NYSE closed on 13 June the share price stood at US$33.80, an increase of some 38 per cent on the start of the week. Future owner Apollo Tyres has not enjoyed such a positive reaction to the news, however. By midday on 14 June (Indian standard time), shares in Apollo Tyres were trading at Rs 67.75, down more than 26 per cent since the deal was made public.

14th June 2013/12,345 Comments/by Tyrepress Editors

Falken TBR “expanding” in UK & Ireland – Philip White Tyres

Philip White Tyres has been a principal dealer of Falken tyres for over 20 years, and the distributor will continue to supply the brand to customers in the region. The partnership with Falken formed in the early 1990s has seen the development of the Falken brand receive key recognition among the UK and Irish commercial truck & bus market. The distributor says the Sumitomo Rubber Corporation brand has expanded in the territory during the last year on the competing pricing, performance and service benefits it offers, backed by Philip White.

4th June 2013/12,345 Comments/by Tyrepress Editors

Wegmann launches Perfect Equipment brand

Wegmann Automotive – the world market leader for wheel balancing weights – took the opportunity presented by Autopromotec to launch its Perfect Equipment brand into the European markets. Perfect Equipment brings with it over 75 years of experience and known in the North American market as the largest US brand manufacturer of wheel weights.

3rd June 2013/12,345 Comments/by Tyrepress Editors

Kirkby Tyres – ‘Moving the earth for you’

Kirkby Tyres has been at the forefront of tyre and wheel wholesaling and distribution for over 60 years and has established itself as one of the largest tyre and wheel ‘full line wholesalers and distributors’ in Europe. With a head office and warehouse on a six acre site next to John Lennon airport in Liverpool and offices in Scotland, Ireland and China the company says it can supply a tyre or wheel for any application. This of course, includes OTR tyres, and Kirkby Tyres says it has a comprehensive range of tyres and wheels for this sector, including from leading manufacturers such as Alliance, BKT, Double Coin and Belshina.

31st May 2013/12,345 Comments/by Tyrepress Editors

PRA offers assistance to European Commission fuel inquiry

The Petrol Retailers' Association (PRA) has offered to submit evidence to the European Commission on alleged anti-competitive pricing tactics in the UK fuel market. In a letter to Alexander Italianer, Head of DG Competition at the European Commission in Brussels, Brian Madderson, PRA Chairman, addressed the current EU oil price fixing investigation and offered the PRA's assistance in this important inquiry.

28th May 2013/12,345 Comments/by Tyrepress Editors

Snap-on buys Challenger Lifts

Equipment manufacturer and supplier Snap-on Incorporated has acquired Challenger Lifts for approximately US$38 million in cash. Reporting the purchase, Snap-on chairman and chief executive officer Nick Pinchuk stated “Challenger is an important addition to our Repair Systems & Information Group. The Challenger vehicle lift product line complements and increases Snap-on’s existing undercar equipment offering, broadening our established capabilities in serving vehicle repair facilities. We believe this acquisition will further Snap-on’s progress along its strategic and coherent growth runway of expanding with repair shop owners and managers. We look forward to welcoming Challenger associates to the Snap-on family.”

23rd May 2013/12,345 Comments/by Tyrepress Editors

Treadsetters to distribute Falken TBR tyres

Tyre wholesaler, Treadsetters has signed a new distribution partnership with Falken. The brand, which is seeking ways of expanding its commercial tyre activity in the UK, will supply truck and bus tyres to the Telford-based distributor.

23rd May 2013/12,345 Comments/by Tyrepress Editors

Analysts ‘surprised’ by European aftermarket performance

While opining that “Europe remains a structurally stagnant market,” Morgan Stanley Research Europe admits surprise at the level of growth seen in the light vehicle tyre replacement market during April. After 17 consecutive months of decline, the European (excluding Russia) light vehicle aftermarket grew eight per cent year-on-year during the month. Year to date, the segment is still down seven per cent year-on-year. Aftermarket European (excluding Russia) truck tyre volume also grew four per cent year-on-year during the month.

22nd May 2013/12,345 Comments/by Tyrepress Editors

RHA applauds oil price investigations

The Road Haulage Association delighted to learn that a formal investigation into the issue of oil price fixing is finally under way. Commenting, RHA Chief Executive Geoff Dunning: "Since the original fuel protests way back in 2000, we have been of the opinion that there should be far more transparency among the oil companies. Yet every time we raised the issue our concerns were dismissed out of hand.

20th May 2013/12,345 Comments/by Tyrepress Editors

PRA 'concerned' over fuel price unpredictability

The Petrol Retailers' Association (PRA) has again voiced its concerns about the unpredictability of the wholesale petrol market. In the last seven days there has been a drop by over 2.6 pence per litre (ppl), which encouraged supermarkets to rush price reductions onto their forecourts. However by the start of this week, wholesale costs recovered all that reduction, resulting in a swing of more than 5.2ppl over a few days of trading.

15th May 2013/12,345 Comments/by Tyrepress Editors

Cooper Tire posts record Q1 profit

Although year-on-year sales were down 12.5 per cent in the first quarter of 2013, Cooper Tire & Rubber nevertheless managed to more than double operating profit and net income during the January to March period. Net sales amounted to US$862 million, a decrease of $123 million compared with the same period a year ago. Operating profit was a first quarter record of $97 million, up 103 per cent from the first quarter of 2012 and 11.2 per cent of net sales. The company reported net income attributable to Cooper Tire & Rubber Company of $0.87 per share, or $56 million, in the first quarter. This is 160 per cent higher than the $22 million, or $0.34 per share, for the same period last year.

13th May 2013/12,345 Comments/by Tyrepress Editors

Petrol retailers respond to government inquiry

The Petrol Retailers’ Association (PRA) has submitted evidence to the Department for Business Innovation and Skills (BIS) on the state of the UK retail fuels sector. The Parliamentary BIS Select Committee recently launched an inquiry into the UK retail market to question the effects regulations and costs have on the sector.

18th April 2013/12,345 Comments/by Tyrepress Editors

UK winter tyre sector is growing

News, Product News, UK News

The UK tyre industry has been taking deliberate steps to develop its fledgling winter tyre market for more almost a decade. Over the years improvements have accelerated with the passing of time. Now, new research produced by market analysts GfK suggest sales are accelerating faster than ever.

12th April 2013/12,345 Comments/by Tyrepress Editors

Are after-sale services going online?

Even though car service portals are being accepted only hesitantly, they still have a remarkable effect already today and the online booking of auto-services is beginning to enter the imagination of motorists across Europe. According to German research firm Wolk After Sales Experts, the concept has now “become imaginable” to many car drivers and the finding forms the basis for a new study named “After Sales Goes Online“, conducted by the automotive consultancy.

3rd April 2013/12,345 Comments/by Tyrepress Editors

China’s tyre makers producing more car tyres, fewer truck

Chinese tyre manufacturers are shifting away from the production of truck tyres in favour of passenger car product, according to local news sources and Bloomberg. Even with this shift, however, China’s net rubber consumption will remain flat for 2013, good news for tyre pricing worldwide.

28th March 2013/12,345 Comments/by Tyrepress Editors