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Hankook’s Explosive Growth

Company News, International News

With so much recent media coverage of Hankook’s European activities and new state of the art facility in Hungary, it is easy to forget that Europe is only one market in which the South Korean tyremaker has plans. And while those living in Europe will naturally pay more attention to activities taking place close to home, Hankook is by no means neglecting its Asian markets, and is in fact paying particular attention to China. Recently Tyres & Accessories was given the opportunity to interview Hankook global CEO Suh Seung Hwa and find out more about the company’s aims for the large and still growing Chinese tyre market.

“China is a vibrant market,” declared Mr. Suh when asked if Hankook’s recent activity in Europe signalled any shift in priorities. He added that the tyremaker expected a large increase in sales from its Chinese operations in 2007. Between 2002 and 2004 the Chinese tyre market experienced what Mr. Suh called “explosive growth,” and by 2006 the passenger car tyre market was still increasing by more than 15 per cent per year, the largest growth of any market the tyremaker participates in.

8th August 2007/by Arno

Stapleton’s Redevelops its Online Presence

Stapleton’s has launched a new website in line with its new brand identity. The new look website is a modern, straight-forward way for customers to find out more about the company and includes a link to ProfitLink where they can purchase tyres online. www.stapletons-tyres.co.uk also offers additional features including a list of products, delivery and regional sales support information and a breakdown of contact details for each area of the business.

Stephen Childs, the marketing manager of Stapleton’s, said: “The site is exactly what we want to offer our customers. It is extremely efficient and easy to navigate, with clear drop-down menus and a separate section for each area of the business.

“The web site is now consistent with our online purchasing service, ProfitLink, which was also recently improved and includes up to the minute price and stock information as well as acting as a useful retail tool for customers, automatically calculating selling prices to set parameters.”

8th August 2007/by Tyrepress Editors

UK Europe’s Leading Tyre Recycler

The UK now diverts 93 per cent of tyre arisings from landfill and leads the way in terms of tyre recycling. However, while most people are pleased to hear that the UK’s free-market approach to tyre recovery and recycling continues to prosper, valid questions about the increased prevalence of secondary fly-tipping and rising numbers of part worn tyres on the market were also raised.

According to the ETRMA, 3.2 million tonnes of used tyres were generated in Europe during 2006, including 486,000 tonnes in the UK and 585,000 tonnes in Germany – the continents two leading tyre markets. The figures, reported by the European Tyre & Rubber Manufacturers’ Association (ETRMA) cover end of life tyre (ELT) destinations during 2006. Across Europe 87 per cent of used tyres (up three points) are now recovered. The key European disposal route is energy recovery, a method favoured by the many markets that operate producer responsibility programmes.

And while the UK’s 93 per cent recovery rate for tyres may not be as high as these other nations, the split is much more varied and the he UK surpasses all other European countries – including France and Germany – in terms of recycling. In 2006 254,000 tonnes of tyres ended up in material recovery, while a further 57,000 tones were retreaded. Therefore the UK recycling an impressive 311,000 tonnes of used tyres in 2006.This compares with just 198,000 tonnes in Germany and 239,000 in France. Austria, Belgium, Denmark, Finland, France, Germany, Hungary, the Netherlands, Portugal, Slovakia, Sweden and Norway, all claimed 100 per cent recovery rates.

2nd August 2007/by Tyrepress Editors

Sameer Half-Year Profits Up 54%

Sameer Africa recorded a 54 per cent increase in pre-tax profit to Sh113.8 million (£836,000) during the first six months of 2006. These results are very good news for the Kenyan tyremaker, who in March reported losses amounting to £164,000 as a result of low price imported tyres.

Sameer’s sales rose 14 per cent from Sh1.6 billion (£11.8 million) in June 2006 to Sh1.7 billion (£12.5 million) in June 2007. The company reported in a statement that this growth came via a 6 per cent boost in the sales of Yana brand tyres. However, despite the positive results the company’s board has not recommended payment of an interim dividend.

1st August 2007/by Tyrepress Editors

HiQ Launches “New Generation” of Tyre Retail

On the same day that Which? Magazine published details of disappointing franchise dealer inspections, HiQ has started what it calls a “revolution” in fast fit retail. According to the company, the launch represents much more than simply a new look, but a completely new concept in tyre retail, designed to counter negative consumer perceptions of the industry. The concept also features a greater emphasis on using Internet technology, offering HiQ franchisees a share of the margin generated from each tyre sold online and then fitted in store. Describing the current stage of the retail business’ development as “exciting times,” HiQ managing director, Neil Burrows invited journalists to tour the flagship Nottingham retail centre.

Viewing the brand new HiQ it is clear that great attention has been paid to developing a retail experience that is at odds with the perception of tyre buying being a distress purchase. For a start the design is light and bright. Then there are entertainment features such as a plasma screen TV, a Playstation and broadband Internet access. But dig a little deeper and you see that the HiQ concept is also driven towards demonstrating that consumers are getting value for money – next to the plasma screen is a smaller flat screen monitor displaying the results of Pro-Align fitted Hunter DSP600 wheel alignment process in realtime. Gone are the days of “oh yeah, we did the tracking mate.”

For full details of the new HiQ network, franchise concept and the new Nottingham branch, see the complete article in the September issue of Tyres & Accessories.

1st August 2007/by Tyrepress Editors

Tyre Manufacturer Leads Chase for National Tyres

A ‘big manufacturer’ has teamed up with Robson Asset Management (RAM), a private equity company established by former Royal Bank of Scotland finance chief Jeremy Robson, to bid for National Tyres and Autocare. According to the The Times, RAM is leading in the £100 million auction. However, Reuters has reported that there was interest in the auction from Phoenix Equity Partners-backed Nationwide Autos, PAI Partners-controlled Kwik-Fit and Graphite Capital-supported Micheldever Tyre Services.

Tyre manufacturer Bridgestone narrowly missed out on a bid to purchase Kwik-Fit two years ago. Bridgestone representatives continue to be silent on the deal, explaining that their policy is not to comment on speculation. However, Michelin already owns the UK’s largest tyre retail equity, Goodyear Dunlop has put all its efforts into developing its HiQ franchise and Continental is unlikely to about face and re-buy the company it sold as a loss-making business in 2002 – leaving only Bridgestone as a likely contender.

Earlier reports had suggested that Nationwide Autos had already made a bid for National. When news of the National sale broke earlier in July, Micheldever executives flatly denied they were bidding for the company. Kwik-Fit representatives refused to comment in relation to the auction.

30th July 2007/by Tyrepress Editors

Rich Heritage

Snap-on Equipment Ltd., the new name for the company that distributes two long-established names in the garage equipment industry – Hoffman and John Bean – is no newcomer to the business. Hofmann produced their first balancer way back in 1932, and at the same time across the Atlantic John Bean began marketing their first wheel alignment machine. These two Snap-on Equipment mainstays have focused upon manufacturing premium level equipment for the industry ever since. In the UK Snap-on Limited call the Thames Valley their home, and recently Tyres & Accessories travelled to the company’s Reading headquarters to meet with new general manager Chris Behan and UK sales manager, Chris Pleass.

By the time T&A met Chris Behan in mid-July he’d already spent four months in the hot seat at Snap-on Equipment, and was drawing on his considerable management experience – Behan has worked with A&M Electric, Atlas Copco and AEG and, most recently as general manager for Tornado Fixings – to head up the company’s ambitious short and medium term plans. “The wheel service market – balancers, changers, aligners, is worth £170 million in total,” he said. “So there’s plenty of room to grow.”

30th July 2007/by Tyrepress Editors

National Sale Could Net Revie £50 million

National Tyres boss, Alan Revie could gain as much as £50 million from the sale of the well-known tyre retail chain. When questioned yesterday about reports that the 205 branch strong network was up for sale, the chairman and chief executive failed to give any clear indication that this was not the case. According to reports, the fact that Revie is majority shareholder ensures that he will walk away with the lion’s share of any sales agreement.

12th July 2007/by Tyrepress Editors

National Appoints Retail Support Supervisor

National Tyres and Autocare is pleased to announce the appointment of Andy Brady as Retail Support Supervisor. Brady has been with National Tyres for over ten years fulfilling a number of roles including Customer Service Manager, Product File Manager and Sales Analyst, and Pricing Manager for National Fleet. Brady took up his new position full time in May, where he is responsible for managing the daily tasks within Retail Support. Andy Brady commented: “I look forward to taking on a new role and facing the diversity and challenges from within the branch network.”

11th July 2007/by Tyrepress Editors

National Tyres ‘For Sale’

National Tyres, the UK’s second largest independent fast-fit chain, is on the market with an estimated £75-£100 million price tag, according to The Telegraph. The firm, which recently reported a 19 per cent year-on-year increase in first-half sales, is said to be in talks with “a number of parties” about a possible takeover having hired PricewaterhouseCoopers to advise on a strategic review.

While the news that the successful retail business might be the target of a takeover is not a complete surprise, some of the parties supposedly linked to the deal weren’t as expected. Telegraph reporter Ben Harrington named Nationwide Autos, Micheldever Tyres and Kwik-Fit as key suitors. Nationwide Autos, which provides drivers with mechanical repair, servicing and MOT tests, and its private equity owners, Phoenix Equity Partners, have already made an approach to buy the company, according to Harrington.

11th July 2007/by Tyrepress Editors

New Group Auditor for NTA

Damien Wightman has taken on the role of Group Auditor for National Tyres and Autocare. Wightman has been with National for four years, previously within Fleet and Retail Support. His remit will cover the North West Regions and report directly to the Group Auditor, Gary Pugh. The role will predominantly involve auditing clerical and administrative procedures within branches and warehouses whilst providing procedural guidance to managerial and branch staff. On taking up his new position, Damien commented: “I hope to be able to find practical solutions and make the auditing process as simple as possible for all staff, and to continue to maintain a high standard of audit practices throughout the company.”

10th July 2007/by Tyrepress Editors

Goodyear Jamaica to Rebuild With Investment

In 2006 Goodyear Jamaica Ltd’s profits nose-dived more than 65 per cent, which was followed by a fire in January which meant its distribution network took a hit. However, at the beginning of July Goodyear Jamaica’s management announced plans to double its sales. In its first quarter to March, Goodyear posted losses of $3.8 million, saying the warehouse fire had consumed its profits.

“Inventory is almost 95 per cent back to its original level, and we have a full complement of staff to help regain the dominant position in the market,” Financial Controller Andrew Peart told local news sources, adding: “We will be selling the features and benefits of the product to consumers as we don’t think that the product is well differentiated in their minds.”

Jamaica had a tyre market of 1,008,116 – all imports – valued at just under $2 billion in 2004, according to the most recent data from the Statistical Institute of Jamaica.

9th July 2007/by Tyrepress Editors

New Online Tyre Retail Portal Launched

A new online tyre retail website has rolled onto the information superhighway. Tyres-betterdeals.co.uk is one of the most recent creations of the betterdeals.co.uk network. According to the company, tyres-betterdeals.com forms an example of the network’s innovative consumer orientation. It is interesting to point out that all the tyre selections Tyres & Accessories made while browsing the site pointed straight to mytyres.co.uk, Delticom AG’s tyre retail front-end.

Active since the end of 2003, betterdeals.co.uk publicizes news on the Internet, serving markets that are as different as Italy, Spain, and France on the one hand and Germany, Holland, and the UK on the other. Resulting in 35 launches of new Internet portals in 2007 alone, betterdeals.co.uk is created and managed by Go Advertising Limited in Dublin, Ireland.

9th July 2007/by Tyrepress Editors

E-Commerce

In July Tyres & Accessories examines a business tool of increasing importance to those in the trade and retail tyre business. Our July E-Commerce feature contains news and interviews from those who have benefited from taking their businesses online and useful information to help you make the most of the opportunities offered by the internet.

Make sure your business looks after its tomorrow by keeping pace with changing business practices – read all about it in our E-Commerce feature.

5th July 2007/by Tyrepress Editors

Small but Meaningful

R H Claydon marketing manager Dick Anderson has been in the business for a good many a year, and although semi-retried these days he has seen a lot of changes in the tyre industry, including the growth of the ATV market from next to nothing into the important and still growing sector it is today. Recently he spoke to Tyres & Accessories about the current UK ATV market in 2007 and R H Claydon’s role in it.

“I see the ATV market as being divided into three sectors,” he stated. The first of these, and by far the largest, is the utility/working market. This covers everything from farm and forestry applications right through to police. Near our head office in Suffolk some of the police are equipped with ATVs, complete with blue light on top!” The thin blue line reportedly find these vehicles invaluable for accessing remote places such as national parks and beaches.

3rd July 2007/by Tyrepress Editors