shares Archives - Page 24 of 76 - Tyrepress

Posts

NDI supplying globally from Chinese operation

It makes no sense at all for a distributor to ship Chinese-made tyres to Europe and then re-export them around the world, and for this very reason Danish tyre and wheel supplier NDI (Nordisk Dæk Import A/S) recently decided to establish a local operation in China. NDI China was established in May 2012 with the signing of a cooperative agreement between NDI and the local government in Beiguan, Jiaozhou City, which is located near the major port of Qingdao.

1st October 2012/by Tyrepress Editors

Aufine offering more designs

The Aufine Group says it “enjoyed a very active and successful” CITExpo show this year, with a great deal of interest from visitors. Speaking with Tyres & Accessories at the Shanghai show, company general manager David Sun says that although he’d observed signs of the current global economic situation amongst people he’d met during the exhibition, the Aufine team nevertheless met new contacts and held meetings that offer a good chance for new business relationships.

28th September 2012/by Tyrepress Editors

Bus range to kick off Conti’s ‘third generation’ commercial line-up

The third generation of commercial vehicle tyres Continental is displaying at this week’s IAA Commercial Vehicles show has been described by the German manufacturer as the “most comprehensive product offensive for truck and bus tyres in the over 140-year history of the Hanover-based tyre manufacturer.” Continental says that from mid-2013 it will successively switch over all of its steering axle, drive axle, trailer and bus tyres across the world to new third generation products.

27th September 2012/by Tyrepress Editors

Triangle reports significant sales growth in key markets

Chinese manufacturer Triangle Tyre shares that it managed to dramatically increase sales volumes in certain markets last year. Particular growth areas were Russia and Brazil, where sales volume growth reached 186 per cent and 179 per cent respectively. South African market sales volumes rose 16 per cent during this period. Sales volumes in Russia are also said to have doubled again in the first half of 2012.

26th September 2012/by Tyrepress Editors

Tariffs on Chinese consumer tyres no longer needed, says US union

Former champion of the US tariff on Chinese-made consumer tyres, the United Steelworkers, claims the trade barrier is no longer needed. In this, the week in which the tariffs first introduced on 26 September 2009 are due to expire, the USW issued a statement addressing its right to request an extension. The USW shares that it told the US Government as far back as March that it would not seek an extension.

25th September 2012/by Tyrepress Editors

Schaeffler sells 21 million Continental shares

According to a report from DB Equity Research Automotive, Continental’s majority shareholder has sold 21 million Conti shares at a market price of 81.50 euros each and is using the proceeds to cut its debt by 1.6 billion euros, bringing its debt down to 10.6 billion euros.

25th September 2012/by Tyrepress Editors

Conti returns to DAX today

Since the start of trading today, the Continental AG share has again been listed in the top Deutsche Börse segment, having returned to the list of top German companies after an absence of almost four years. The company is the first to succeed in being promoted back to the DAX 30 twice.

24th September 2012/by Tyrepress Editors

Analysts: Continental ‘can still surprise’

Some financial analysts have stated their faith in Continental AG’s continuing strong financial performance ahead of the company’s third quarter results.

Upgrading their estimates for the company’s shares performance, Morgan Stanley market watchers said they predict “10 per cent upside to 2012 consensus and circa 20 per cent in 2013-2014,” continuing: “We think valuation and third quarter catalyst make Continental the most attractive investment in the auto industry.”

24th September 2012/by Tyrepress Editors

B&J Rocket’s Airbot series enters production

B&J Rocket has begun manufacturing the successor to its worldwide established B&J RFBOT buffing tool. The Swiss company first presented prototypes of the new Airbot series at this year’s Reifen show in Germany, and it says customer feedback was enthusiastic; greater efficiency, considerably shorter buffing times and greater longevity due to better cooling were arguments that convinced visitors at the B&J Rocket booth and led to the first pre-orders.

21st September 2012/by Tyrepress Editors

Lanxess announces mid-term EBITDA goal

At its media day in New York, German specialty chemicals company Lanxess announced a new mid-term goal for its leading earnings indicator – EBITDA pre exceptionals. The company projects that its EBITDA pre exceptionals will reach 1.8 billion euros in 2018, and says its previous 2015 EBITDA pre exceptionals goal of 1.4 billion euros will now be reached a year ahead of schedule. This key performance indicator has increased by an average of 20 per cent per annum since 2004, and for 2012 Lanxess reconfirms its guidance for EBITDA pre exceptionals to increase by five to ten per cent year-on-year.

21st September 2012/by Tyrepress Editors

Nokian premieres ‘AA’ rated summer range

Nokian Tyres claims membership in the exclusive ‘AA’ label club with the introduction of its new eLine summer tyre range. Sales of the eLine, a product suitable for smaller cars, will begin in spring 2013.

18th September 2012/by Tyrepress Editors

Apollo launches ‘lifestyle’ rebranding

The Apollo tyre brand is being repositioned in order to, manufacturer Apollo Tyres shares, move the humble tyre from being a commodity and “grudge purchase” to a lifestyle product. In a handbook outlining its rebranding strategy, Apollo Tyres says its core brand idea centres on two things, namely “go the distance” and “safety.”

17th September 2012/by Tyrepress Editors

Titan International issues new shares as part of Titan Europe deal

On 14 September, Titan International announced the proposed issue of up to 6,240,833 new Titan International common shares to Titan Europe shareholders in connection with Titan International’s offer for Titan Europe plc. Under Titan International’s offer, Titan Europe shareholders will receive one new share of Titan International common stock for every 11 Titan Europe shares held. Based on the closing exchange rate of £1=$1.6016 and the closing stock price of Titan International common stock of $20.03 on September 13, 2012, this offer values each Titan Europe share at approximately 113.36 pence and Titan Europe’s fully diluted share capital at approximately £104.8 million. The Titan International offer represents a premium of approximately 15.1 per cent to the closing price of 111.25 pence per Titan Europe share on September 13, 2012.

17th September 2012/by Tyrepress Editors

Analysts: Conti’s DAX re-entry won’t make immediate waves

Following the news that Continental AG shares will once again be traded on the German DAX list, financial analysts have been assessing the impact that this likely to make on the company’s share price. For its part Morgan Stanley estimated that the impact will actually be “relatively small from a trading perspective – circa 1-2 days of trading volume and circa 1-2 per cent of the current available freefloat.”

10th September 2012/by Tyrepress Editors

Once again, Conti can relax in the DAX…

Almost four years after being shown the door at the DAX 30, Germany’s Continental AG is set to re-enter the exclusive group of the 30 major German companies trading on the Frankfurt Stock Exchange. Stock exchange operator Deutsche Börse announced Conti’s return to the DAX 30 on the evening of 5 September.

6th September 2012/by Tyrepress Editors