Stamford Tyres
Singapore-based Stamford Tyres has posted a S$4.85 million (£2.36 million) profit in the second quarter of its current financial year, a marked contrast to the $2.97 million loss reported a year earlier. Revenue for the three months to 31 October 2013 amounted to $71.5 million (£34.8 million), down 12.1 per cent year-on-year. The company says the lower revenues are mainly attributable to weaker export sales of Sumo Firenza tyres and mining tyres.
Singapore’s Stamford Tyres has appointed UAE automobile distributor Al Habtoor Motors as the official dealer and distributor of its Firenza car tyre brand. The Firenza brand is already established throughout Europe and the UK and this latest association is designed to build a sales profile in the Middle East for the future.
Contract tyre manufacturer Enjoy Tyre Co Ltd appointed Rob Henderson as general manager for UK and Europe. Based in Hangzhou, China, Enjoy Tyre has been established for 23 years supplying its Rotalla car tyre brand across a number of global markets. The company reports that it is currently investing in the development of a new Routeway car tyre range for 2014 to add to its existing truck and bus radial range. According to the company, Enjoy Tyre intends to establish an increased trading profile across Europe and view Rob as the “perfect springboard” to achieve this objective.
Stamford Tyres brand, Firenza has an established presence in UK and European markets, with patterns across the PCR, UHP, light commercial and truck sectors. The brand expanded its purview in 2012 to include a recent range expansion into specialist cold weather products. Its growing portfolio now includes the winter tyre range, Nu Ice.
The Firenza truck tyre range has been specifically produced to provide a high quality alternatively in the mid-market sector, according to company representatives. And the brands position in the UK has been developed through the “strong partnership [that] has been forged in the UK between Firenza and International Tyres & Trading based in the West Midlands.” International Tyres are the exclusive distributor of the brand and the company reportedly provides “swift and efficient delivery throughout the UK.”
Stamford Tyres Corporation and Sumitomo Rubber Industries have commented further on their plans to set up a joint venture sales company in India. Yasutaka Ii, director and senior executive officer of Sumitomo Rubber, said “India is a market with huge potential. We are delighted to continue our partnership with Stamford Tyres which has a strong distribution track record, as part of our group’s expansion into new markets. This new joint venture will allow the two companies to leverage on their expertise to address the needs in the Indian market and tap onto this market’s huge potential.”
Japanese tyre maker Sumitomo Rubber Industries and Singapore’s Stamford Tyres Corporation have announced plans to establish a joint venture sales company in India. The operation, Falken Tyre India Private Limited, will start business in April 2013 and be 60 per cent owned by Sumitomo Rubber subsidiary Sumitomo Rubber Asia (Tyre) PTE. Ltd, with Stamford owning the remaining share. Falken Tyre India will focus on India’s replacement tyre market; Sumitomo says it will supply tyres that “meet the local needs.”
Singapore’s Stamford Tyres announced the entry onto the winter tyre market of its Firenza brand, introducing the company's initial sizes of its Nu Ice Firenza winter tyre range. Stamford Sport Wheels (SSW), a subsidiary partner of the Stamford Tyres Group, used its portion of the Stamford stand to display a new alloy wheel collection. SSW launched its latest range of Soleil alloy wheels in Europe for cars, 4×4/SUV's and light trucks.
Stamford Tyres Corporation Limited recently announced its financials for the year ended 30 April 2012. They reveal that the company experienced a 6.7 per cent increase in sales to S$364.1 million growth across all key markets.
As a well established, regular exhibitor at the Reifen exhibition, Singapore based Stamford Tyres will once again be using Europe’s most important tyre show to maximum effect. This year it has secured a larger, 100 square metre stand for itself (hall 2, stand 530), and will introduce a new tyre and a new alloy wheel range.
The organisers of Singapore tyre and equipment show Tyrexpo Asia have reported a fast start to exhibitor bookings for its 2013 exhibition. By mid-April, 11 months before the show gets underway, more than 62 per cent of space in Hall 2 of the Singapore Expo Centre has been reserved as regular exhibitors and new suppliers attending the bi-annual event for the first time confirmed their presence. Tyrexpo Asia veterans Stamford Tyres, YHI Corporation, Elgi Rubber, Omni United and BKT have secured prominent gateway stands in the main entrance area. Joining them will be Indian tyre manufacturer CEAT, who return to the show for the first time since 2007. The show will take place at the Singapore Expo Centre on 19-21 March 2013.
Singapore’s Stamford Tyres was awarded the 'Gold Award' for the most innovative stand at the recent Tyrexpo Africa Show 2012 in Johannesburg. Stamford says it prioritises visual presentation and the latest accolade further emphasises its dedication to the highest standards in its show stands. Daniel Eng, Stamford Tyres assistant vice president for international distribution says: “Receiving this prestigious award is a rewarding conclusion to a very successful show for Stamford tyres and South East Asia in the global tyre industry.
The organisers of Tyrexpo Africa have been pleased by the response to this year’s show at the Sandton Convention Centre in Johannesburg, South Africa. Over 140 delegates from more than 70 countries exhibited at the show, while total attendees for the three-day show numbered 2,652. ECI International sales director, Rowena Suthers stated that the company was “very happy with the overall exhibitor response”. ECI has confirmed that Tyrexpo Africa 2014 will take place at the Sandton Convention Centre on 4, 5, 6 March 2014.
Stamford Tyres has reported its unaudited quarter earnings for the period between 1 August and 31 October 2011, a quarter in which its after-tax profit dropped 80.5 per cent. The Singapore-based company’s after-tax profit amounted to S$330,000 (£149,500) in the second quarter of the 2012 financial year, as opposed to $1.69 million a year earlier.
MAXAM Tire International S.a.r.l, the Luxembourg-based manufacturer of all-steel radial OTR tyres, has appointed Stamford Tyres (Africa) Pty Ltd as the company's dealer for the South African market.
The deal was welcomed by Wee Kok Wah, president of Stamford Tyres, and Ian Thomas, CEO of MAXAM Tire International. Said Ian Thomas: "We are delighted to have signed this agreement with Stamford Tyres as they are one of the largest specialist OTR tyre suppliers in South Africa, with warehouses in Cape Town, Durban and Johannesburg. I am confident that, by working closely together we can raise the profile and awareness of MAXAM in the country."
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