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AA Tyre Fit Is New Name For Tyreserve

UK fleet tyre management company Tyreserve has changed its name to AA Tyre Fit. The change, effective from February 24, reflects the purchase of Tyreserve by the AA in June 2002. The company’s general manager, David Goodyear, said the change would bring the business – and its network of 3,221 independent fast-fit centres and franchise dealers – all the benefits of belonging to the most trusted brand in motoring services. AA Tyre Fit has also appointed Continental as an approved tyre supplier. The German tyre manufacturer joins Cooper-Avon as the only two suppliers whose products are offered to the company’s fleet and retail customers.

26th February 2003/by Tyrepress Editors

Q4 And Full Year Results For TBC

TBC Corporation (Memphis/TN), one of the USA’s largest aftermarket tyre distributors has announced record sales and earnings for the forth quarter and year ended 31st December 2002.

12th February 2003/by Tyrepress Editors

PK Commercial Tyres Diversifies

Ashford-based PK Commercial Tyres is a well-established Bandag franchisee, supplying quality truck retreads for a number of years. Managing director Paul Kuske has experienced both good times and bad, changes in the market and changes in user attitudes and the company has weathered it all, adapting to these changes.Recent changes in the retread market prompted Paul to re-think where the future lay for his company. The main problem is the increasing demand by customers for management information and a total tyre management service, rather than just product. “We found that we were having to sell the tyre over again – once to the end user and then to the tyre distributor or service provider” said Paul. There were other dangers too – if you use outside companies to provide the services that you are unable to offer, there is always the chance that they might compete for your contracts. “We lost two fleet contracts to a former service provider partner” he remembers.It was time for a re-appraisal of the company’s objectives. PK Commercial took over a retail tyre depot in Aylesford, near Maidstone, offering fast-fit services and MOTs for car drivers. The location and the diversification into car tyre retailing proved successful.

10th February 2003/by Tyrepress Editors

National Into The Black

One year after a management buyout, National Tyres and Viking International (the ex-Continental-owned UK tyre retail chain and wholesaler), reported a 2002 profit of 750,000 Pounds. This compares with a joint loss of almost 44 million Pounds in 2001, before the buyout. The turnaround was due to reduced costs and increased turnover, with 2002 sales up 25 per cent, from 80 million to 100 million Pounds.

1st February 2003/by Tyrepress Editors

“Michelin – The BMW In The Tyre Industry”

Business newspapers in France and England are commenting on a paper from the french analysts Gaetan Toulemonde and Alexis Boyer both from DB Global Equities are recommending Michelin shares as a clear “buy”. The share price – at about 31 Euros at present – has, according to the analysts, the potential to rise to 50 Euros within 12 months. Michelin is seen by them as “the BMW in the tyre industry” with strong brands and an excellent brand strategy. It is expected that Michelin will announce in a press conference at the end of February a turnover for 2002 of about 15.7 bn Euro and an operating profit of 1.1 bn Euro. For this year the company is aiming for a turnover of more than 17 bn Euro and an operating profit of more than 1.2 bn Euro. The stock capitalisation at present is 4.6 bn Euro.

21st January 2003/by Tyrepress Editors

Goodyear Fires 700 In Akron (Update)

Although reductions in staff had been expected, the news item still fell like a bombshell: Goodyear, the tyre manufacturer, is sending more than 700 salaried staff home, 350 of these from the company headquarters in Akron, Ohio, alone. The press releases on the subject refer to a "restructuring", holding that the move was necessary to strengthen attempts to accelerate Goodyear's turnaround. With this measure, it is said, Goodyear can remain competitive, and CEO Keegan even demands something like a "winners' attitude" from the remaining associates. This may go down well in America, yet to the ears of staff hit by the cuts, who have not been charged with having done anything wrong, it must sound almost cynical. Meanwhile, Thursday January 16th , Akron witnessed moving scenes among staff. For one thing, no one expected such serious staff cuts; and for another, it looked as if someone had simply gone through the ranks with a rake, plucking out staff members who never even dreamed of being dismissed. The entire proceeding bears a certain handwriting and leads one to suspect that top and higher-echelon management made the decisions more or less on their own, and that middle management, presumably was not involved in the matter and now lives in fear of a loss of functionality. In the end, the work to be done has neither gone away nor even lessened. Instead, it must be carried out by the employees still holding their positions.

20th January 2003/by Tyrepress Editors

HiperImperio: Portugal’s Rising Star

The Imperpar Group has been founded on the tyre business and tyres accounted for around 70 per cent of the Group’s gross revenue in 2001. Consequently, HiperImperio is the core element of the group though Managing Director António Barros dos Santos expects to see the emphasis gradually change by 2004. Tyres will remain the core business at 60 per cent of revenue, but other sectors of the business are expected to grow at a greater rate.The key targets for the tyre business will be to develop market share in the Iberian Peninsula, particularly in Spain. He sees no immediate overseas investment. Development will be undertaken by acquiring existing independent businesses. Dos Santos: “We also have a franchise operation. These Club Auto Box outlets are not owned by us but are effectively controlled by us. There are currently about 20 Club Auto Box franchises and this is another sector through which we can expand. We also have 12 new shops opening in the New Year throughout Portugal. Our retail presence in Spain is spread with three outlets in Galicia, one in Valladolid, three in Madrid, 5 in the Balearics and 12 in the Canarians Islands. But there is still room for a great deal of development in the Spanish market. We sell to over 300 dealers throughout Portugal and 100 in Spain.HiperImperio has also introduced its own brand passenger car tyre under the Rolltec name, produced by a global tyre manufacturer to international standards. Currently, there is a restricted range of fast moving sizes but the range is expected to expand in the coming year. HiperImperio uses this brand as its own in Portugal and sells it exclusively through its own outlets. However, its own distribution companies sell the brand on a global scale and it is available to other distributors in European markets for national distribution through Europe as a private brand.The business was built around the retread industry and astute business development has taken the Imperpar Group from carcasses and retreading to a multi-discipline business playing on a global market. However, retreads still play an important part in the Group’s development and although there is currently less emphasis on retreads in the tyre division than there has been in the past, retreads still account for some 15 per cent of revenue.

9th January 2003/by Tyrepress Editors

J. K. Tyre – 25 Years Of Leadership

India’s largest four wheeler tyre manufacturer celebrates its silver jubilee. J. K. Tyre is a division of J. K. Industries, which is itself a flagship company of the J. K. organisation; one of the largest industrial groups in India. As well as tyres, the group’s manufacturing activities include paper, cement, textiles, hybrid seeds, cosmetics, power transmission – the list is as varied as it is extensive. J. K. Tyre was established in 1977 and has established itself as India’s number one manufacturer of tyres for four wheel vehicles under the JK Tyre and Vikrant brands. In this sector, J. K. Tyre claims a domestic market share of 20.8%. In the truck and bus tyre market, which accounts for around 80% of the Indian tyre market by value, J. K. Tyre claims a market-leading 25.8% share.In 1997, J. K. Industries took a major strategic decision to acquire Vikrant Tyres Ltd., an ailing tyre manufacturer. With the input of J. K. Tyre’s expertise, systems, marketing and work practices, Vikrant achieved a remarkable turnaround, returning to profit after only ten months. Today, J. K. Tyre has four Indian production facilities, with a capacity of 5.5 million tyres. This growth is set to continue, with production over the next two or three years rising to some eight million tyres. The company also boasts India’s first, and only, all-steel truck and bus radial plant. Being a pioneer of radial technology involved J. K. Tyres in a great deal of hard work and effort to spread the word about the benefits of radials, but this has been rewarded as the J. K. Tyre brand is strongly associated with radial tyres. The company’s marketing strategy was focused on offering high performance radials with service being the brand differentiator.One aspect of this was the establishment of a chain of retail outlets, offering a one-stop sales and service centre. Going under the name “Steel Wheels”, there are more than 100 such outlets in India and J. K. Tyre claims that they have revolutionised tyre retailing in India – offering services such as wheel balancing and alignment and advice on tyre care by well-trained technical staff. Another marketing initiative is the “Dial-a-Tyre” service, which allows customers to have tyres delivered and fitted in the comfort of their own homes. This is the latest in a line of innovations, which includes India’s first T-rated tyre, the first H-rated tyre and the country’s first Dual Contact tyre, the “Aquasonic”. The company manufactures a range of tyres to suit all four-wheel applications, from cars to trucks and buses, agricultural vehicles and tractors, plus there is also a range of tyres for animal-drawn vehicles. Both radial and bias ply tyres are produced.

9th January 2003/by Tyrepress Editors

Stapleton’s: 65 years in business

It was in September 1937 that Sidney Stapleton founded the company in Watford’s High Street in premises that remained Stapleton’s Head office up until 1970. The company distributed tyres to garages and, when they began to emerge, to specialist tyre retailers. Stapleton’s became active in the retail side in addition to supplying tyres. In 1994 Stapleton’s Tyre Services was sold to Japanese company Itochu. In 1997, Roy Croft stepped down as MD, being appointed non-executive Deputy Chairman. Ashley Croft and Peter Regan (who joined the company from Itochu) took over as joint Managing Directors. Ashley later became sole MD. During this period, Stapleton’s had continued to grow, and the ambitions of the company were exemplified by the construction of a purpose-built headquarters, incorporating a warehouse and offices in Letchworth, Herts and a major distribution centre in Wakefield, West Yorkshire. At this time, Stapleton’s was offering a daily delivery service across most of the UK.It was in October 2002 that news broke that Ashley Croft had resigned as MD for personal reasons, thus severing a 44-year family link with the company. His place as MD was taken by Mike England, formerly Retail Director.

11th December 2002/by Tyrepress Editors

RMIF Supports Licensing The Trade

Fred Maguire, president of the Retail Motor Industry Federation (RMIF) has openly supported government plans which may lead to garage licensing. He acknowledged that the government’s mystery shopping review of the trade had revealed serious problems which need to be addressed. In that light he was putting the support of the RMIF behind the “Good Garage Scheme”. He also stated, “We can only achieve excellence by concerted efforts and improvement in training. So, as an industry we have to take positive action in the training arena. If RMIF members set this as their priority objective, they will have nothing to fear (from licensing).”

1st November 2002/by Tyrepress Editors

Recycled Tyres To Go To War?

The US Military is a large consumer of retread tyres but a new development may see them also utilising recycled tyres. The Denlin Corporation is to demonstrate a new helicopter landing pad made from the company’s Treadoles(R) recycled tyres. “This product is of great interest to the military, industrial, commercial and retail markets,” said Dennis Martin, president. Besides helicopter landing pads, Martin said Denlin is using it in ballistic armour shields for military vehicles and ground troops. Both products are weeks away from first commercial use, he claimed.Denlin’s helicopter landing pad, custom made for desert fighting and field combat installation, helps eliminate sand blasting of critical helicopter parts, including rotors and engines. The manufacturing process uses “an unique, innovative cutting process,” according to Martin. Recycled vehicle tyres are used without the need for further processing of the rubber material. Other applications include flooring, roofs and roadways for third world countries.

28th October 2002/by Tyrepress Editors

Sales Up Too At Nokian

Nokian’s 3Q net sales were up 11.1 per cent at 117.9 million Euros, but higher fixed costs affected operating profit, which was 15.2 million Euros (3Q 2001: 18.6 m). 51 per cent of Nokian’s income comes from car tyres and 63 per cent is generated in Scandinavia and Finland. Sales of heavy tyres and bicycle tyres both rose, but sales of retreading materials fell. Vianor, Nokian’s retail chain, showed an increase in sales of 14.4 per cent, but operating profit was similar to 3Q last year.

26th October 2002/by Tyrepress Editors

Ashley Croft Leaves Stapleton’s – Mike England Takes Over

Ashley Croft has resigned “for personal reasons” as Managing Director of Stapleton’s Tyre Services, effective from October 1st – a post he has held for three years. He is succeeded as MD by Mike England, formerly the company’s Retail Director. Ashley joined Stapleton’s straight from university 27 years ago when the company was a family-run organisation. Stapleton’s Tyre Services was bought by the Japanese Itochu Corporation in late 1994.

2nd October 2002/by Tyrepress Editors

CVC To Join Kwik-Fit And Halfords?

There are reports that CVC is considering the merger of Kwik-Fit and Halfords, both of which it owns. Kwik-Fit is a true fast-fit operation, while Halfords deals in auto accessories. The reports suggest possible synergies, such as purchasing, plus gains from selling properties in locations where there is duplication. CVC would not comment on the story. The car servicing side of Halfords business was bought by the AA a year or so ago and has been re-branded AA Service Centres.

27th August 2002/by Tyrepress Editors

Turnover And Profits Up For Nokian

Nokian Tyres has released its figures for the second quarter. Looking at the figures for the first six months, both turnover and operating profit were up on 1H 2001. Turnover rose 12.6 per cent to 193.3 million Euros (1H 2001 171.6 m Euros) and operating profit was 8.7 m Euros (6.7 m). Net profit was 1 m Euros (-0.8 m Euros). The good figures were the result of price increases, improved product mix and lower material costs. Most product groups showed increased sales, with the exception of retreading materials, and the Vianor retail chain lost 2.5 m Euros.

12th August 2002/by Tyrepress Editors