News articles on the tyre retail business
Stapletons Tyre Services has appointed a new Interim retail general manager to join its expanding business. Keith Pringle joins Stapletons from his previous position at the Navy, Army and Air Force Institutes (NAAFI), where he was a management consultant. Previous to that, Keith was director of operations at national pub retailer, Scottish and Newcastle.
Interstate Europe BV, has appointed Ovethi A/S as the distributor for Sonar tyres in Denmark. Interstate’s Commercial Director, Mr. Theo de Vries, said he was “very satisfied to have an experienced and professional company such as Ovethi as the distributor in Denmark.” Ovethi A/S has been working for a number of years in the Danish tyre market and has its own retail chain throughout Denmark. The Sonar range includes tyres from 13 inch to 20 inch, plus commercial and 4×4 tyres.
New research from independent market analysts Datamonitor suggests that Europe’s 146 billion euro light vehicle aftermarket is in decline. The analysts say that revenues could drop by one per cent compared with those of today – a 1.2 billion euro shrinkage.
CITEXPO, the largest tyre exhibition in China is publicising its change of venue. The exhibition venue has moved from Shanghai East Asia Exhibition Center to a much bigger venue – Shanghai Everbright Exhibition Center. The exhibition’s organisers say that show aims to bridge the gaps between the soaring tyre industry in China and companies from overseas. After being launched in 2003 the second CITEXPO attracted over 100 exhibitors and 5000 visitors from a range of tyre industry roles including manufacturers, buyers, distributors, wholesalers, direct retail and manufacturing purchasers. This year, CITEXPO will be held from 14 – 16 December 2005.
(Akron/Tire Review) For the fourth consecutive year, BFS Retail & Commercial Operations (BFRC) will sponsor the Great American Cleanup, an organised community improvement initiative that runs from March through to May, announced Bridgestone Americas Holding (BAH).
A group led by Pirelli RE has bought the La Rinascente retail chain in a deal worth 888 million euros (£619 million), numerous business sources have reported. Eurofind, the chain’s previous owner, said the Pirelli led group beat several rival bidders, including French department store chain Galeries Lafayette. The Pirelli RE-led group includes Deutsche Bank Real Estate, private equity fund Investitori Associati, and Milan’s Borletti family, which owned the chain until selling it to the Agnelli family in the 1970s. Rinascente, which owns its namesake department-store network as well as UPIM, a lower-priced chain, reportedly had net profit of around 9 million euros and EBITDA of 68 million euros from 925 million euros of revenue last year.
(Akron/TR) “Informational pickets” set up by United Steelworkers of America (USWA) locals representing Bridgestone/Firestone North American Tire (BFNAT) plants are causing concerns amongst owners of Nissan car dealerships who say such action is unfair and hurts their businesses.
Goodyear has announced the appointment of John Tseng as chairman and president, Goodyear Greater China. Tseng previously served as corporate vice president and general manager digital and film imaging systems for Eastman Kodak’s North Asia operations.
Hi-Q has appointed Nikki McCluney as its new marketing manager. She joins Birmingham-based Hi-Q from van maker LDV where she was marketing manager, responsible for retail and fleet marketing as well as the sponsorship of the LDV Vans Trophy football tournament. As part of Nikki’s role at Hi-Q, she will be responsible for all marketing initiatives covering marketing and public relations and will also lead the implementation of a new brand strategy later this year.
Roll containers are proving the most efficient method of distributing goods in the supply chain, according to Bekaert Handling. In recent months the company reports that it has seen the use of roll containers rise sharply throughout a variety of different industries. The company claims that it is unique in offering a complete bespoke design capability, developing innovative solutions to storage and handling problems.
Hawleys Tyres, of Sheffield, has joined the Bridgestone UK First Stop network of independent tyre dealerships. Established by Martin Hawley (grandfather of the current owner), in 1910, the company claims to be the oldest independent tyre dealership in the UK. The company will now receive marketing and public relations support, an exclusive tyre brand, and First Stop and Bridgestone branding on signage and work wear.
Private equity group CVC Capital Partners, the owner of Kwik Fit, has appointed Deutsche Bank to advise on a possible sale or floatation of the retail business. CVC said it and the German bank would work together on determining the best course for Kwik-Fit, according to a BBC report. Kwik-Fit is expected to be valued at more than £700 million with some estimates reaching £1 billion. Analysts report the company has strong cash flows and would make an attractive takeover target.
“Deutsche and CVC are going to evaluate the strategic options for Kwik-Fit, but no decision has been taken yet in terms of whether it will be a trade sale or an IPO (initial public offering) or in terms of timing,” said a spokesman for CVC. Famous in the UK for its “You can’t get better than a Kwik-Fit fitter” advertising slogan, Kwik-Fit is Europe’s largest independent auto parts, repair and replacement specialist. It has some 2,300 outlets including its mainland Europe subsidiaries – Speedy in France and Pit Stop in Germany.
If the 8th Moscow Tires & Rubber show is anything to go by, the Russian tyre market looks set to continue its development as a growth market. While the show was marked by growing interest from exhibitors and visitors, the market itself has produced some generally optimistic data and has seen perceptions of the manufacturers’ market approaches improve. All this suggests that the Russian market will continue to develop into a very interesting tyre market, with a strong growth potential.
A changing market environment and growing consumer demand in Russia has encouraged Matador to target the increasing opportunities offered by the market. The Slovakian tyre manufacturer is preparing for the future by initiating a new brand strategy and further investments into its Russian joint venture in Omsk. 2005 is an appropriate year for Matador to contemplate future development of its tyre business, as it will celebrate two important anniversaries during the coming months. In May the company will celebrate its 10th year at the Russian factory Omskshina, followed by its 100th anniversary in the autumn.
Nokian Tyres has revealed that it will issue a maximum of 1.074 million new shares in a directed share issue to selected investors today. This corresponds to 9.9 per cent of shares outstanding. According to a Deutsche Bank analyst, the move could be an early indication of a possible acquisition. “Nokian only has a track record of acquiring and integrating tyre retail and distribution companies. It has not integrated tyre plants historically,” they add. Despite a large investment programme, the analysts still expect 117 million euros of positive cash flow.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
