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Conti reports global growth in winter, OEM sectors

On March 3 Continental AG will hold its annual press conference, at which it will provide detailed information on its performance in 2010, a year in which the automotive supplier says it emerged from the crisis “in impressively good shape.” The company has already reported an increase in annual sales from 20 billion euros in 2009 to “at least” 25.5 billion euros last year, a figure helped by the “positive performance” of the company’s car tyre division.

2nd March 2011/by Tyrepress Editors

“No dull moment” in international wholesaling: S&H Tyres

Netherlands tyre wholesaler S&H Tyres was founded in 2002 by Simon Klapwijk and Henk van Dijk, who opened the tyre wholesale company in “a little village under the smoke of Rotterdam,” in S and H’s own words. Rotterdam’s status as one of the biggest container ports in the world is not insignificant; S&H has a logistics centre 20 minutes away from the port. It is this kind of proximity that gives S&H an advantage in moving with international tyre-buying trends, the company believes.

28th February 2011/by Tyrepress Editors

Russian car sales could total US$40 billion in 2011

…which is good news for Kwik-Fit’s Russian partner and other tyre retailers too. In February the Russia Trade and Industry Ministry forecasted a rapid recovery of the country's automotive market in 2011, supporting suggestions that Russia is once again on track to become the largest car market in Europe. What’s more this is likely to have a positive impact on those retail chains such as Kwik-Fit’s partnership with Russian Rolf Group, White Service.

21st February 2011/by Tyrepress Editors

Yokohama Rubber Announces Senior Management Changes

Three changes within Yokohama Rubber’s senior management were decided upon at the company’s board of directors meeting on February 14. These changes, effective April 1, 2011, include the promotion of Hikomitsu Noji to a director and senior managing corporate officer role. Noji is currently director and managing corporate officer, president of Tire Group and general manager of Tire Global Production Division. As of April Mr. Noji’s more concise job title will be director and senior managing corporate officer and president of Tire Group.

18th February 2011/by Tyrepress Editors

Yokohama Rubber announces senior management promotions

On 14 February 2011, the board of directors of Yokohama Rubber decided the following management changes in board membership and corporate officers, which take effective on 1 April 2011. The changes include the promotion of Hikomitsu Noji to director and senior managing corporate officer, president of Tire Group. He is currently director and managing corporate officer, president of the Tire Group, general manager of Tire Global Production Division.

16th February 2011/by Tyrepress Editors

Analysts praise Nokia’s ‘very strong’ fourth quarter, predict 30% capacity increase

Financial analysts lauded Nokian’s “very strong” fourth quarter results, with Morgan Stanley predicting the news will raise the share price, while Deutsche Bank increased its price target from 37 to 38 euros. Strong demand is also expected to lead to a significant increase in unit output during 2011.

The analysts concurred that Nokian’s pre-released sales and operating income headline figures were in line with the actual results – making the focus on the company’s net debt and continuing outlook. And these, in Morgan Stanley analyst Edoardo Spina’s words are both “great news.” Net debt totalled only 1 million euros, implying cash generation of 383 million euros, according to the analysts.

10th February 2011/by Tyrepress Editors

Prices rises announced for Michelin’s European portfolio

Michelin has announced fresh price rises for European markets – part of its “firm pricing policy” in the face of rising raw material costs. As of March 1, motorcycle and scooter tyres will increase by up to 7.5 per cent, while prices for earthmover tyres will go up by up to 7.5 per cent on this date in most European markets. Between March 1 and April 1 price rises for new and retreaded truck tyres averaging seven per cent will be “gradually implemented” in European markets (excluding Russia), while agricultural tyres will receive the same gradual approach to price increases in many European markets between April 1 and May 1; this time prices will go up by an average of four per cent. Last but not least, the passenger car and small truck tyre segment will see increases averaging five per cent for summer and winter products gradually implemented between April 1 and June 1, 2011.

10th February 2011/by Tyrepress Editors

Nokian Tyres presented with “opportunity to increase sales” in 2011 – Gran

A jaunty nautical appraisal of this year’s outlook greeted shareholders upon the release of Nokian Tyres’ 2010 financial statements. The man at the helm, president and CEO Kim Gran, stated that “a clear improvement in the drivers for demand in core business brought Nokian Tyres back to a strong growth track. The sails are now bulging with strong tailwind as we go into 2011 with thick order books and growing capacity.”

9th February 2011/by Tyrepress Editors

Hyundai, Ulsan – The largest car factory in the world

International News

With more than a quarter (11 million) of South Korea's population of around 40 million living in the capital Seoul and a further 1.1 million living in the country's capital of heavy industry Ulsan, it is clear the country's population s centred on its bustling metropolises. But while space can be found at a premium in the largest cities, the businesses that operate in each of these cities take advantage of the synergies available due to the close proximity of the workforce and other related companies.

1st February 2011/by Tyrepress Editors

Yokohama Philippines capacity to increase 143% by 2017

Capacity at Yokohama’s production site in the Philippines is to increase from seven million to ten million passenger car tyres per annum as a result of expansion work being carried out there in the next three years. This first phase expansion at the Yokohama Tire Philippines site involves the construction of a new tyre plant to complement the existing 165,000 square metre facility. Construction work will get underway after a tenancy agreement is signed in February and initial production is expected to commence in 2013, with full operational capacity reached the following year. A total of 20 billion yen (₤153.2 million) is being invested in the first-phase expansion; a further 30 billion yen is earmarked for the second-phase expansion work, which will further increase Yokohama Tire Philippines’ annual capacity to 17 million tyres by 2017.

1st February 2011/by Tyrepress Editors

Fendt Gives CGS Tyres Four As

AGCO has awarded its highest supplier rating to CGS Tyres for deliveries from January to December 2010. CGS Tyres’ brand, Continental, is mounted to AGCO’s Fendt 200 Vario – 900 Vario tractor series. In order to improve products, AGCO evaluates its suppliers’ quality, logistics, customer service and protection of the environment, in all of which CGS Tyres received the highest grade. An A rating means 99.9 per cent or more of the units were delivered without fault. CGS Tyres has received the A award annually since 1999.

20th January 2011/by Tyrepress Editors

Yokohama Awarded for Samurai Ad Campaign

Efforts made by Yokohama Rubber to increase brand recognition in overseas markets have been acknowledged at the Japan IAA Best Advertising Awards. The company shares that at a presentation ceremony on January 27 it will be handed the bronze award for its “Master of the Road” television commercial, which was aired in a number of international markets.

17th January 2011/by Tyrepress Editors

Latest Rhein Chemie Acquisition a ‘Springboard’ for Further Investments

In the coming years, Lanxess subsidiary Rhein Chemie plans to expand its production of curing bladders for the tyre industry. These plans have been given a boost by its acquisition of Argentina based curing bladder and release agent manufacturer Darmex S.A. for an undisclosed sum. As a result of the acquisition, Lanxess reports that Rhein Chemie will become one of the “world’s leading providers of release agents for rubber products in a highly fragmented market.” Rhein Chemie will also acquire Darmex’s bladder technology in Latin America, a key production hub for leading tyre manufacturers. The release agents and bladders belonging to Darmex will be branded under Rhein Chemie brand name.

12th January 2011/by Tyrepress Editors

Growth Seen in European On-Road Tyre Markets During November

Europe’s passenger car and light commercial vehicle tyre markets returned to year-on-year growth in November, reports Pirelli. The Italian tyre maker estimates a three per cent year-on-year growth in the region’s (excluding Russia) original equipment market plus replacement market growth of 15 per cent. Year to date, Pirelli’s estimates peg European OE market growth at 13 per cent and the aftermarket at eight per cent.

15th December 2010/by Tyrepress Editors

Titan Takes Over Goodyear’s Europe, Latin America Agri Businesses

The European and Latin American agricultural tyre businesses run by Goodyear Tire & Rubber have a new owner following their sale to Titan Tire Corporation. On December 13 the Titan International subsidiary announced its acquisition of the businesses, including a licensing agreement permitting Titan to manufacture and sell Goodyear-brand farm tyres in Europe, Africa, Eastern Europe, Russia, Latin America and North America. The deal is valued at approximately US$130 million, subject to post-closing adjustments.

14th December 2010/by Tyrepress Editors