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Nokian Tyres sales and profits down in Q3

Nokian Tyres has reported third quarter 2015 sales of 311 million euros, down 5.1 per cent on the previous year. Looking at the first nine months of the year, the firm achieved sales of 1.009 billion euros, down 7.1 per cent. Operating profit, however, rose by 0.3 per cent to 72.4 million euros, resulting in an operating margin of 23.3 per cent in 2015 (the prior year figure was 22 per cent). In the first three quarters operating profit amounted to 201.2 million euros now.

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  1. Russia continues to pound Nokian Tyres’ sales and profits
  2. Nokian Aiming for Premium Segment Leadership in Russia
  3. Analysts: Nokian Tyre 2Q Net Income 80% Ahead of Expectations
  4. Nokian Tyres: Lower sales and operating profit in 2020
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Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation

On 22 October, Pirelli, Rosneft and Synthos signed a further Memorandum of Understanding (MoU) regarding the next phase of their synthetic rubber cooperation. The MoU refers to the approval of the results of an initial feasibility study begun in April regarding the development of a synthetic rubber plant construction project in Nakhodka. The document was signed during the Fourth Eurasian Forum in Verona by Rosneft chairman of the management board Igor Sechin, Pirelli executive vice chairman and CEO Marco Tronchetti Provera, and Synthos majority stakeholder Michal Solowow.

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  1. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  2. Rosneft and ChemChina sign cooperation agreement
  3. Pirelli signs Armenia synthetic rubber MoU
  4. ChemChina’s latest Pirelli shares held indirectly
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Oil price, Ukraine crisis ‘devasting’ to trailer demand

The instability in Ukraine plus the plummeting oil price has had a devastating impact on the outlook for trailer demand in Russia, according to new research published by Clear. Nearly 24,000 trailers were wiped from the last forecast for the 2015 – 2019 period in the report issued in March 2015. In the latest forecast a further 8,000 trailers have been removed from the forecast for Russia and the Ukraine.

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  1. East European trailer market hit again, but regional nadir also reached
  2. 2014 Eastern European trailer market flatlining
  3. East European trailer market stalls…again
  4. Turkey leads strong Eastern Europe heavy trailer demand
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Team Toyo takes Japanese drift crown

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Team Toyo Tires Drift driver Masato Kawabata has claimed the 2015 D1 Grand Prix Championship in Japan, his third D1GP championship victory. Driving the 1000-horsepower 35RX D-Spec Nissan GTR to another series victory with Toyo Proxes R1R tyres, Kawabata claimed the 2015 series with an accumulated points lead.

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  1. Tyremakers Lead Rising TSE
  2. Toyo Sponsors World Cup Ski Jump Final
  3. Team Toyo Tires Drift wins Japanese drift championship
  4. Toyo exhibits global racing pedigree with Ken Block, BJ Baldwin at Tokyo Auto Salon
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Rosneft and ChemChina sign cooperation agreement

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Rosneft and China National Chemical Corporation (ChemChina) signed a Heads of Agreement on cooperation in equity investment in ChemChina Petrochemical Corporation (CCPC) and a Memorandum of Understanding for cooperation on the project of the Far-East Petrochemical Company (FEPCO).

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Related news:

  1. Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation
  2. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  3. ChemChina front-runner to buy Pirelli
  4. Pirelli is now Chinese owned
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Omsk Carbon Germany renamed Omsk Carbon Europe

In 2012 Russia’s largest carbon black manufacturer, Omsk Carbon Group, established its first fully-owned subsidiary outside its home market by setting up Omsk Carbon Germany in Waltrop, North Rhine Westphalia. The German office has doubled its sales every year under the leadership of Rainer Jung and is now expanding its operations in Italy, France and the UK. To reflect this, Omsk Carbon Germany has been renamed Omsk Carbon Europe GmbH.

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  1. Omsk carbon black production to start in 2018
  2. Marangoni Claims Leadership in Russian Retread Segment
  3. Moscow office to aid Cooper’s drive into Russia
  4. Omsk Carbon USA appoints new manager
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Twisty left-hand track awaits Hankook in Moscow DTM

With its many corners, the 3.931km Moscow Raceway is one of the slower tracks on the DTM calendar. The fastest passage is the almost 900 metre home straight, where race cars reach a top speed of just on 250km/h. On the counter-clockwise track, Hankook’s race tyres come under a heavy load on the cars’ right side, but this has no impact on the performance of the tyre. “The team engineers correct this, for instance, by making different adjustments to the air pressure on the left and right sides depending on the load. The highest tyre wear occurs on the right front, but our Ventus Race withstood this impressively over the last years,” explains Hankook’s DTM race engineer Thomas Baltes.

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  1. Hankook enters fifth year of DTM partnership at Hockenheimring
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  3. DTM, Hankook returning to Brands Hatch
  4. How tyre management can decide Lausitzring DTM: Hankook
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Yokohama partners with Russian aviation show

Yokohama Russia L.L.C., the Russian tyre sales subsidiary of Japan’s Yokohama Rubber, will serve as an official partner and sponsor of the International Aviation and Space Salon (MAKS) 2015, which begins today (and opens to the public on 28 August) in the Russian city of Zhukovsky, near Moscow. Yokohama Rubber believes its participation as an official partner and sponsor of MAKS, one of the world’s largest aviation shows, will further advance the brand recognition of Yokohama tyres.

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  1. Pirelli reports strong results in international tyre tests
  2. Yokohama exhibiting at Moscow International Automobile Salon 2014
  3. Yokohama begins OE tyre manufacture in Russia to meet Nissan’s ‘buy local’ preference
  4. Yokohama gains Nissan Rus supplier award
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Maxam exhibits at Siberian mining show

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The Kuzbass region of Russia is the site of the country’s largest coal field and two thirds of Russia’s annual production of 350 million tonnes of coal is mined there. As such, it is a fitting setting for the annual Ugol Rossii mining exhibition, held in the Siberian city of Novokuznetsk since 1992.

With 380 exhibitors from 23 countries and a total exhibition area of 66,000 sq m (40,000 sq m of which is outdoors) Ugol Rossii is the most important mining event in Russia.

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  1. Konstrukta Celebrates 15 Years in Tyre Machinery Manufacturing
  2. Petlas aiming to be a top 50 exporter in Turkey
  3. RengasCenter becomes Magna Tyres distributor in Finland
  4. Titan 3Q figures show lower sales, but also reduced losses
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Russia continues to pound Nokian Tyres’ sales and profits

It is hard to believe that little more than two years have passed since Nokian Tyres predicted the market for premium tyres in Russia would grow by an average of ten per cent each year, and even harder to grasp that as recently as 2012 the Russian and CIS markets accounted for 35 per cent of the tyre maker’s total net sales.

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Related news:

  1. Nokian to appeal tax bill
  2. Nokian Tyres: Russia/CIS markets drag down Q3 profits
  3. Difficulties in Russia drag down Nokian Tyres’ Q1 2015 net sales
  4. Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018
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Nokian Tyres to lower production, lay off workers in Finland

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The the economic situation in Russia and the CIS countries has led to a downgrade in Nokian Tyres’ 2015 outlook. The Finnish tyre maker says sales of passenger car tyres have continued to decline in this region, and those tyres being purchased within the Russian market are increasingly lower B or C segment brand products. The company’s own sales in Russia were down 39.1 per cent year-on-year during the first half of 2015.

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  1. Nokian to ‘adjust’ output at Finnish plant
  2. Nokian Tyres charged 59 million euros extra tax in Finland
  3. Nokian Tyres: US factory launch team training in Europe
  4. Nokian Tyres adjusting output in Russia, freezes hiring at new USA plant
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Pirelli and ChemChina agree closing date, triggering mandatory tender offer

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CNRC (ChemChina), Camfin and its shareholders have announced that all the necessary antitrust and regulatory approvals for ChemChina’s purchase of the majority of Pirelli (as announced on 22 March 2015) have been obtained. Therefore the aforementioned parties have agreed to complete the transaction on 11 August 2015. As a result, the pre-announced mandatory tender offer for the remaining shares (at 15 euros each) will be triggered.

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Related news:

  1. ChemChina now holds 30% of Pirelli shares
  2. ChemChina’s latest Pirelli shares held indirectly
  3. Pirelli is now Chinese owned
  4. Regulator approves ChemChina/Pirelli offers
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Toyo Tire sponsoring Russian football club FC Zenit

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Toyo Tire & Rubber’s tyre sales subsidiary in Russia has concluded a sponsorship agreement with Russian Premier League football club FC Zenit Saint Petersburg (ф.К. Зенит). Toyo Tire Rus LLC will sponsor the team for three seasons, with the contract running from August 2015 to July 2018.

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  1. Toyo Tires becomes AC Milan premium sponsor
  2. A.C. Milan players dribble from the rooftops with Toyo Tire
  3. Toyo AC Milan sponsorship promoted in new video
  4. Toyo extends football sponsorship programme with German, Japanese deals
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Lanxess claims “record time” certification for Lipetsk Rhein Chemie site

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In mid-2013, Lanxess’ Rhein Chemie Additives business unit opened a new facility in the Lipetsk Industrial Park, around 300 miles southeast of Moscow. Although the plant has produced polymer-bound rubber additives for almost two years now, Lanxess states “it was clear” that “lasting commercial success” with tyre and rubber industry customers in Russia wouldn’t be feasible unless the facility achieved the appropriate ISO certification, and therefore it set about obtaining this at the start of last year.

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  1. Amtel-Povolzhye Receives ISO 14001 and 16949
  2. ISO certification for Tatneft tyre plants
  3. Nizhnekamsk truck plant passes environmental audit
  4. ISO 14001, OHSAS 18001 certification for Sumitomo’s tyre factory in Brazil
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Difficulties in Russia drag down Nokian Tyres’ Q1 2015 net sales

Although it enjoyed growth in Western markets during the first quarter of 2015, Nokian Tyres reports that its business in Russia “remains challenging”. The tyre maker’s 9.9 per cent year-on-year decrease in net sales to €281.3 million was driven by a 43.9 per cent decline in gross sales in Russia and the CIS. Operating profit dropped 29.4 per cent to €48.3 million and profit margin contracted from 21.9 per cent to 17.2 per cent. A windfall meant good news on the bottom line, however; the annulment of a previous tax ruling meant the company was able to return taxes and interest of €100.3 million to its financial result. Therefore profit for the three-month period rose 249.3 per cent from €38.7 million in Q1 2014 to €135.3 million this year.

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Related news:

  1. After ‘somewhat lower’ 2013, Nokian expects ‘profitable growth’ next year
  2. Currency devaluation pulls down Nokian Q1 results
  3. Nokian Tyres: Russia/CIS markets drag down Q3 profits
  4. Russia continues to pound Nokian Tyres’ sales and profits
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