In prior years the US-based off-road tyre specialist Titan International has expanded not just through organic growth, but also through strategic acquisitions. And according to company chairman and CEO Maurice Taylor, the shopping tour is not over yet. The next goal is the 50-year old Indian steel wheel manufacturer “Wheels India Ltd.”, a TVS Group company.
Goodyear has reported that its fourth quarter 2012 sales amounted to $5 billion, down 11 per cent from 2011. According to the company, the drop reflects $338 million in lower tyre unit volumes, $221 million in lower sales in other tyre related businesses and $85 million in foreign exchange effects. It is worth pointing out that although tyre unit volumes totalled 40 million, this is generally down 7 per cent compared with 2011. And what’s more Goodyear reported that this primarily reflects lower volumes in Europe.
In the three months to 31 December 2012, Apollo Tyres Ltd’s net sales grew 9.4 per cent to Rs 97.57 billion (£1.17 billion), while net profit jumped 86.1 per cent to 1.8 billion (£21.63 million). Operating profit for the third quarter of Apollo’s 2012-13 financial year amounted to Rs 4.1 billion (£49.27 million), up from Rs 3.3 billion a year earlier.
Titan International has announced several personnel changes resulting from its acquisition of Titan Europe. Cecilia LaManna will serve as the CEO of ITM, the company’s design and assembly centre for complete undercarriages and side frames in Europe. And Chris Akers will head up the entire Titan Europe wheel group; Akers will report to Titan Wheel’s president, Dave Salen.
Mitas is recalling 1,752 tubeless E-07 motorcycle tyres. The tyres were mainly sold to customers in Europe. The sizes subject to recall are: 110/80-19 M/C 59T E-07 TL MI, 100/90-19 M/C 57T E-07 TL MI and 110/80-19 M/C 59T E-07 DAKAR TL MI. According to the company, the problem that has sparked the recall is that under extreme conditions the affected tyres can “suddenly loose air pressure.”
As announced at this year’s Brityrex, Bandvulc has added the Boto brand to its wholesale commercial tyre range. The company has now released a statement confirming the brand’s introduction, and in it Bandvulc writes that Boto has invested “over £250 million in people, technology and buildings to produce an annual production capacity of over 3.6 million Boto radial truck and bus tyres.”
Metzeler has again served as sole tyre supplier to the BMW Motorrad GS Trophy, which ran in South America from 24 November to 2 December. The rally-raid is organised every two years by the German motorcycle maker to allow its best and most competent customers to test the off-road qualities of BMW bikes. After the first edition in Tunisia in 2008 and the second in South Africa in 2010, the “Two-wheeler specialist” was chosen by BMW as the ideal technical partner to take on the hard trials scheduled.
The ‘Grizz’, Titan International chairman and CEO Maurice Taylor, has issued a statement on the tyre maker’s 2013 guidance. In the statement, Taylor writes that “2012 was again record revenue, net income, gross margins, operation margins, just everything. The only negative is we could have done better and I’m the one who didn’t keep a better eye on the changes taking place in Bryan.” This final comment referred to reduced production in the Bryan, Ohio factory due to the plant’s new computer system.
More news about the tyre recycling world’s equivalent of a yo-yo: after being approved (November 2011), withdrawn (January 2012), declared “back on track” (April 2012), approved again (July 2012), declared “stolen” (August 2012), challenged in court (August-September 2012), and then once again put on hold (November 2012), South Africa’s REDISA plan has now been re-gazetted and come into force.
In 2011 Continental engaged with Innoware, a software and web applications firm, to develop a bespoke online competitor-analysis pricing tool. The aim was to automate reporting across the UK, mainland Europe and South Africa. According to the company, pre-set reports and complex calculations are created in seconds for all key retail outlets, providing views at local, regional, and country level.
Plans to implement a tyre recycling plan in South Africa have once again hit a sizable pothole. Only weeks after a challenge to the Recycling and Economic Development Initiative of South Africa (REDISA) scheme was dismissed by the Gauteng North High Court, an application submitted by South Africa’s Retail Motor Industry Organisation (RMI) has put it once again on hold pending further review.
Apollo Tyres has released its unaudited financial figures for the second quarter of the company's financial year 2012-13 (July to September). Net sales were up 18 per cent year on year at 33.7 billion Rupees (US$ 612.29 million), operating profit rose 55 per cent to Rs 3.8 bn (US$ 135.33 m) and net profit was up an impressive 96 per cent to Rs 1.5 bn (US$ 27.62 m).
Goodyear and the European Driving Schools Association (EFA) have announced a joint collaboration, to increase awareness for safe driving among young drivers and address this in the training for youngsters on the road. EFA represents the interest of 25 driving school associations from 24 European countries.
Trading in over 30 countries around the world through a series of partnerships, Treadsetters has developed its international activities as part of the TIA Group of companies. Treadsetters believes that the ongoing growth within the global tyre market can be attributed to a combination of providing the company's international client base with ongoing extensive sourcing and marketing expertise, technical support and advice along with the responsive supply of tyres and wheels. The company has recently exhibited in South Africa, Tanzania and Panama as part of the company's ongoing dynamic sales and marketing campaign.
Rob Oudshoorn, CEO Apollo Vredestein BV, is to leave the company on 31 December 2012 after 18 years as CEO. Luis Ceneviz, currently CEO of Apollo Tyres South Africa has been named as his “intended successor”. According to the company, Oudshoorn will be joining the executive board of the Dutch Company Pon Holdings. Apollo representatives said they wish him “all the best in his new endeavour,” in a statement announcing his departure.
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