The wholesale tyre distribution networks owned by Goodyear and Bridgestone in the USA are combining to form an operation the two protagonists claim will be “one of the largest tyre distribution joint ventures in the United States.” This 50-50 joint venture, announced yesterday, echoes the arrangement that Michelin and Sumitomo Corporation entered into at the start of the year.
In addition to employing new country team members, in-house sales representatives and warehouse staff, Heuver Tyrewholesale has strengthened its team with the appointment of a new marketing manager. Jeff van den Biggelaar began joined Heuver Tyrewholesale at the start of this year and draws upon prior experience gained within the tyre industry as well as in related roles in other businesses.
A new joint venture has been set up between Michelin and industrial products distributor CFAO for importing and distributing premium and quality segment tyres into Kenya and Uganda. CFAO holds a 51 per cent share in the new entity and Michelin the remaining 49 per cent. The joint venture’s governance is equally divided between CFAO and Michelin.
Avon Tyres has appointed Netherlands-based wholesaler Tyre Trading International (TTI) its distributor for the Benelux markets and for the north of Germany.
Univergomma Spa, the apparent number two in the Italian tyres replacement market, has reported significant sales improvement in 2017. The firm specifically reported a turnover figure north of 135 million euros. This figure includes international sales, with particular success reported in the Europe, Middle East and Africa (EMEA) region.
After being named Truck & Agricultural Tyre Supplier of The Year in both 2015 and 2016, last year Kirkby Tyres went home from the NTDA Tyre Industry Awards ceremony in October with the trophy for Tyre Wholesaler of the Year. The 2017 award was for Kirkby perhaps the crowning moment in a year that saw its original equipment and OE2 business continue to grow as well as work progress on its warehousing expansion programme. This expansion will be completed during the course of 2018 and is expected to enhance Kirkby’s operations. The wholesaler also anticipates an increase in its OE/OE2 activities and is introducing several other important agricultural products.
In order to clear any consfusion arising from the announcement that Michelin and Sumitomo Corporation of Americas (SCOA) are forming a joint venture to pool tyre wholesale resources in the USA and Mexico, the Micheldever Group has issued a statement stressing that it is not in any way connected with Sumitomo Corporation or its North American subsidiary.
Following the news that Micheldever and Kumho Tyre are ending their 15-year distribution relationship, Kumho Tyre (UK) Ltd. (KTUK) has confirmed that the cooperation will end in May 2018. After that date, KTUK will itself be responsible for distributing Kumho branded car, 4×4 and van products in the UK (excluding Northern Ireland).
With the creation of a 50-50 joint venture, Michelin North America Inc. says it and Sumitomo Corporation of Americas will form the second-largest player in the United States’ wholesale tyre market. The two companies have entered into a definitive agreement to combine their respective North American replacement tyre distribution and related service operations. The transaction is subject to customary approvals.
Micheldever Tyre Services (MTS) has confirmed it is ending its 15-year tyre distribution partnership with Kumho Tyre in the UK. According to the company, the exclusive distribution agreement with Kumho Tyre will “end by mutual agreement” by the end of May 2018. However, MTS says the decision has also been prompted by a “clash of long-term ambition” for the Kumho brand in the UK. It comes at the same time Kumho’s global headquarters is embroiled in a complex ownership and financing struggle.
2 January 2018 is a very special day in the history of Ulster Tyres. 40 years ago the company was founded by husband and wife team Joe and Brighid McGinley. Joe was a director for a local tyre company and seen the opportunities in the tyre trade. Tentatively they opened the business in 1978 beside Whitehouse Motors in Ballybofey.
According to an official report on the insolvency of Interstate Tire & Rubber Company BV, the direct cause of the firm’s bankruptcy was the non-payment of invoices by a customer, an Austrian tyre wholesaler named in the document as Bruckmüller GmbH.
Sailun Jinyu Group has announced that it sold its Kings Road Tyres Group (KRT Group) tyre wholesale subsidiary to KRT Holdings Ltd in a November Shanghai stock market statement.
This year Stapleton’s celebrates 80 years since Sydney Stapleton set up his business in a simple parade of shops at 195 High Street, Watford in 1937. An entrepreneur of terrific dynamism and foresight, he was among the few to spot and take advantage of the fast-growing market for tyres. A decade on, in the post WWII years, the company’s total weekly wage bill amounted to the princely sum of £20. It’s safe to say in this 80th anniversary year the wage bill’s grown considerably now Stapleton’s employs some 1,100 staff at eight regional sales offices and eleven distribution hubs nationwide. It’s also safe to suggest that Sydney Stapleton would be staggered by the scale of his old business, with a current stock capacity of 1.5 million tyres available at any given time.
A further step towards consolidation within Europe’s tyre wholesaling sector has been taken with the European Commission approving the sale of Reiff Reifen und Autotechnik to US private equity fund Bain Capital Investors LLC. The new owner states its intention to become a regional leader within this business.
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