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Michelin sales drop, guidance down, results supported by replacement car tyre demand

Compagnie Générale des Établissements Michelin has reported that group sales fell to 20.171 billion euros in the first nine months of 2024, down 4.6 per cent compared with the same period in 2023. Within that group figure, Michelin’s Specialty tyre business was hit hardest, with sales down 9.1 per cent in the period to 4.882 billion euros (2023: 5.368 billion euros). At the other end of the spectrum, the Automotive segment – car tyre sales – was least affected by the overall decrease in turnover, with nine-month sales down 2.4 per cent to 10.356 billion euros (2023: 10.611 billion euros).

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Related news:

  1. Michelin temporarily closes some European factories, car tyre demand down 9%
  2. Tyre demand declining 15 to 26 per cent in 2020
  3. Collaboration is the future…or is it?
  4. Michelin reports 2,577 million euros of operating income
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GRI expands agri, construction ranges

An expansion of the GRI product portfolio sees 11 new SKUs join its agricultural and construction tyre segments. The Sri Lanka-based specialty tyre manufacturer refers to these new additions as part of a “strategic move” that underscores “GRI’s commitment to meeting the evolving needs of its customers worldwide” as well as its “dedication to innovation and excellence in tyre manufacturing.”

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Related news:

  1. GRI introduces new agricultural & specialty tyres
  2. GRI expands construction, agri ranges
  3. Building on foundations of growth – GRI MD talks with T&A
  4. GRI plant expansion “progressing well” despite lockdown
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Millstream deflates risk of punctures with Michelin X Tweel

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Punctures had been an increasing problem for Millstream Estate Services of late, but not since equipping its grass cutting fleet with airless Michelin X Tweel Turf wheels. The Milton Keynes-based business now runs the tyre and wheel combination on five of its six Kubota ZD 1211 zero-turn mowers and plans to upgrade the remaining machine in the near future.

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Related news:

  1. No more flat tyres: Michelin presents airless solution for cars
  2. Michelin Tweel factory opens
  3. Michelin preparing to drive on the Moon
  4. Michelin trials Uptis with DHL Express
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Tyre mould maker EMT now a Continental operation

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Continental has acquired EMT s.r.o., a mould manufacturing specialist based in Puchov, Slovakia. The tyre maker and automotive technology company obtained all shares in its long-standing supplier on 2 April 2024 after entering into an agreement with EMT’s shareholders, including majority shareholder Dynamic Design Europe. Beyond confirming the retention of all 107 EMT employees, Continental has not disclosed details of the agreement.

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Related news:

  1. Conti share price sinks, net income rockets in first 9 months of 2011
  2. VÚK acquisition to benefit Continental’s tyre assembly machinery business
  3. Conti planning to grow workforce by 7,000 this year
  4. Bridgestone takes majority share in Slovakia’s A.R.S.
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Continental investing in Sri Lanka solid tyre plant

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Continental

With an investment of around 13 million euros over the coming three years, Continental will enhance pre-production capacities at its Speciality Tires plant in Kalatura, Sri Lanka, thereby optimising the manufacturing process and limiting cross-country dependencies within the logistic supply chain. Continental anticipates that customers will benefit from better product availability. The investment will also create some 200 additional jobs.

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Related news:

  1. GRI breaks ground on second tyre plant
  2. $250 million Ferentino tyre factory opens in Sri Lanka
  3. GRI completes 2nd phase of specialty tyre plant expansion
  4. Haohua Tire breaks ground on US$300 million tyre factory in Sri Lanka
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Gerd Bartels leading Continental’s Specialty Tires business

As of 1 November 2023, Gerd Bartels takes over responsibility for Continental’s Specialty Tires business area. He succeeds Wolfgang Thomale, who Continental recently appointed head of the Surface Solutions business area within its ContiTech group sector.

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Related news:

  1. Enno Straten takes over as MD of Continental CST
  2. Continental forms new ‘Specialty Tires’ business unit 
  3. Continental appoints 2 field engineers for CST business
  4. Continental restructures management of Specialty Tires business
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CEAT Specialty to launch forestry tyre range at Agritechnica

CEAT Specialty is set to launch “a comprehensive range of forestry tyres” at Agritechnica 2023. The CEAT Specialty Forestry range will cover the two key segments of log skidder and forwarder harvester.

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Related news:

  1. Trelleborg launches European Road Show at SIMA 2015
  2. KRT launches new Kingstone industrial and speciality ranges
  3. Alliance introduces three new Forestar 644 sizes
  4. Amit Tolani named Ceat Specialty chief executive
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GRI appoints directors for Europe, MEA & South America

Giorgio Gramegna is GRI’s new director for Europe and in this capacity will lead the specialty tyre manufacturer’s efforts to grow its business within the region. He is joined by Simon Michael, who GRI has named director for MEA & South America. GRI says that these appointments “signal the company’s commitment to being close to and serving customers in those regions.

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Related news:

  1. GRI breaks ground on second tyre plant
  2. GRI and Al Dobowi launch strategic partnership
  3. GRI ‘privileged’ to continue pivotal role in food supply chain
  4. GRI introduces “most environmentally-friendly” tyre
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GRI names Michael Connor as US director of sales

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GRI is pleased to announce the appointment of Michael Connor as director of sales for its US operations. In his new role, Connor will oversee GRI’s sales, marketing, operations and customer service efforts in North America, covering its Material Handling, Agriculture and Construction product portfolios.

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Related news:

  1. TGI appoints African development manager, new strategic accounts VP
  2. Amerityre appoints new CEO
  3. GRI appoints new chairman and CEO
  4. Bloom named president Hexpol Compounding Americas
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GRI completes 2nd phase of specialty tyre plant expansion

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Phase 2 of a US$100 million production capacity upgrade at the GRI specialty tyre factory in Sri Lanka is now complete, and GRI reports being in a position to increase capacity by almost 100 per cent from the present level, up to a daily output of 60 tonnes. This elevated capacity will satisfy the increased demand for farm tyres that GRI has enjoyed since launching agricultural ranges across key markets such as Europe, the USA and Australia in 2018.

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Related news:

  1. GRI breaks ground on second tyre plant
  2. GRI plant expansion “progressing well” despite lockdown
  3. Building on foundations of growth – GRI MD talks with T&A
  4. GRI gains trio of National Business Excellence awards
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Continental appoints Reinhold CST spokesperson, promotes Hannig

Julia Reinhold has joined Continental as Press Spokeswoman for Commercial Specialty Tires. She is responsible for media relations in the Material Handling, Port, Earthmoving, and Agriculture business areas and succeeds Anika Hannig, who has become Head of Communications for the Specialty Tires business unit.

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Related news:

  1. Continental restructures management of Specialty Tires business
  2. Continental shows high-performance port products in Hamburg
  3. Continental introducing ‘Port Plus’ compound into harbour tyre range
  4. Radials to complete Continental port tyre range in 2019
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Nokian adds to Hakkapeliitta TRI range

Contractors who operate tractors in regions where winters are harsh rely on tyres that provide grip in varying conditions, such as the Nokian Hakkapeliitta TRI. Nokian Heavy Tyres has expanded this range with the addition of two 65-series sizes, 540/65R28 and 650/65R38. A total of 29 dimensions are now available.

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Related news:

  1. Nokian adds to Ground King range
  2. Nokian CT tyre range extended to five sizes
  3. From Concept to King – Agritechnica launch for Nokian contractor tyre
  4. Nokian launches next-generation winter truck tyre
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Michelin introduces AGV-specific port tyre

Michelin has launched what it calls the “first tyre specifically designed for automatic guided vehicles (AGV) operating in ports.” This is the Michelin X AGVEV, which the tyre maker currently offers in one size – 18.00 R 25 – through its dealer networks in Europe and Asia. Michelin intends to extend availability to other regions at a later date.

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Related news:

  1. Continental introducing ‘Port Plus’ compound into harbour tyre range
  2. Radials to complete Continental port tyre range in 2019
  3. Tyre makers in the battery manufacturing space
  4. Michelin launches X Incity EV Z for electric buses
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Amit Tolani named Ceat Specialty chief executive

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Ceat

Roughly two years after he was appointed Ceat Ltd VP of marketing, Amit Tolani has been named chief executive of Ceat Specialty, effective 1 June 2021. Ceat Specialty has its EU office in Amsterdam and has been serving European farm and OTR tyre customers since 2017. Tolani joined Ceat in 2004 and has served in various roles across sales, marketing and supply chain functions. Prior to his latest appointment, he was the chief marketing officer of CEAT.

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Related news:

  1. Industrial Tyres From India
  2. Prometeon appoints Ali Yilmaz as UK, Eire and Nordic marketing manager
  3. For Yinbao Tyre, imitation is the highest form of flattery
  4. Early 2016 opening for BKT R&D centre
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