Vredestein Archives - Page 30 of 37 - Tyrepress

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Amtel-Vredestein in Talks with Continental

Only weeks after it emerged that Continental was discussing a possible purchase of Slovakian tyremaker, Matador Rubber, reports have surfaced that Continental’s eastward movement could now include purchasing the majority stake of Amtel-Vredestein. According to Russia’s Kommersant newspaper, Amtel-Vredestein (AV) managing director Alexei Gurin recently initiated discussions with Continental AG and the company could sell a majority stake to the German company as soon as spring 2007. For its part AV confirmed it has held discussions with Continental “in relation to possible areas of cooperation in Russia.” A Continental spokesman at the company’s Hanover headquarters also confirmed that talks between the two companies had taken place.

20th November 2006/by Tyrepress Editors

Amtel-Vredestein 3Q Sales up 14%, 9-month Net Loss Doubles

Despite reporting net sales of $198 million in the third quarter of 2006 and $548 million (up 19 per cent) in the first nine months, Amtel-Vredestein’s net loss doubled to $22 million between January and September. For the full year, the company projects net sales in excess of $800 million and EBITDA of approximately $100 million in 2006, according to the company. “A net loss of $10-$12 million is expected for the year — primarily as a result of increased investment costs and interest expenses as the company continues its Russian production, distribution and retail expansion programme,” official documents stated.

15th November 2006/by Tyrepress Editors

Amtel-Vredestein Wins Branding Award

Amtel-Vredestein has won the EFFIE/Best Brand silver medal in the automotive category for its Vredestein brand promotion marketing project. Of 300 leading companies competing in 30 different categories, Amtel-Vredestein was the only tyre manufacturer to take a prize. The awards ceremony took place at the Forum Hall complex on 26 October. The EFFIE awards organisers describe the accolade as the most prestigious advertising and marketing award.

2nd November 2006/by Tyrepress Editors

Vredestein Wins Again

Vredestein is celebrating its fifth straight win in the annual Auto Express tyre test. Described as “brilliant in the wet,” the magazine’s only real criticism was of the Sportrac 3’s fuel economy. Continental, only 0.6 percentage points behind, took second place. Perhaps the biggest surprise of the report was Kumho’s Marshal second brand taking third. Auto Express’ remaining recommended rosettes were given to the Bridgestone B250 in fourth and Goodyear in sixth who were only separated by 0.01 points. The Vredestein Sportrac 2 won last year’s test. This year leading premium manufacturer, Michelin, took 15th and last place.

15th September 2006/by Tyrepress Editors

Amtel Tyre Production Begins at Moscow Plant

Amtel-Vredestein N.V. has announced that it has begun production of its Amtel brand of tyres at the Moscow Tyre Plant-M; only weeks after the company announced its intention to acquire the factory. The company has also met its promise to make the plant more environmentally friendly by shutting down rubber mixing at the facility.

7th September 2006/by Tyrepress Editors

New Vredestein Winter Sizes

Vredestein Tyres has further expanded its varied range with a number of new sizes. Vredestein has an excellent reputation as winter tyre specialist. The most new sizes are in the Wintrac Xtreme UHP winter tyre and its SUV/4×4 cousin, the Wintrac 4 Xtreme. There are no less than 11 new sizes for the Xtreme Until now, the Wintrac 4 Xtreme was available in 16 different sizes, but Vredestein has now added an additional five sizes to the range.

4th September 2006/by Tyrepress Editors

Amtel-Vredestein Obtains Credit

(Akron/Tire Review) Amtel-Vredestein is taking a 350 million ruble credit line loan at 13 per cent from Rosbank, according to a report out of Russia. The credit facility was taken by subsidiary Amtel-Chernozemie OJSC, which pledged 20 per cent of its assets (about 1,78 billion rubles) as loan security.

31st August 2006/by Tyrepress Editors

Amtel-Vredestein Launches Winter Tyres at Moscow Auto Show

Amtel-Vredestein N.V. is to introduce its latest products for the first time in Russia at the Moscow International Motor Show 2006 (30 August to 10 September.) Tyres to be spotlighted include the Vredestein Sportrac 3, Vredestein Ultrac Sessanta, the new Amtel NordMaster ST-310 and the Amtel NordMaster CL winter tyres.

31st August 2006/by Tyrepress Editors

Amtel-Vredestein Won’t Buy Back Shares – Gurin

Amtel-Vredestein has rebuffed reports that suggested it plans to buy back its shares. Responding to the news with an official statement, the Russian/Dutch tyre manufacturer countered what was “erroneously reported and editorialised by Russian Business Consulting’s daily online newspaper RBC Daily.”

23rd August 2006/by Tyrepress Editors

Van den Ban’s Winter Tyres

As the winter tyre season approaches Europe once again it is important to note that some European countries encounter harsher wintry driving conditions than others. However Van den Ban’s extensive selection of winter tyres is capable of meeting the challenge from comparatively mild to severe road surfaces.

14th August 2006/by Tyrepress Editors

Amtel-Vredestein First Half Revenues up 22 per cent

Describing itself as Europe’s fourth largest tyre producer, Amtel-Vredestein (AV) has announced first-half results showing sales of $350 million, up 22 per cent from £286 million in 2005. Gross profit improved 43 per cent from $56 to $80 million in the first half, up 22 per cent in the second quarter compared with the first three months of the year. However, Amtel-Vredestein’s first half net losses totalled $15 million against the $1 million profit at the same time last year. Most of the losses were acquired during the first quarter, with net losses decreasing to $5 million in the second quarter, write AK&M analysts. In the same period net revenue from Passenger Car Tyres grew 52 per cent from $135 million to $205 million in the first half and now represents 59 per cent of total sales.

14th August 2006/by Tyrepress Editors

Amtel-Vredestein to Acquires Russian Tyre and Auto Part Distributors

Amtel-Vredestein’s (AV) AV-TO retail subsidiary has announced that it is to buy Nizhny Novgorod-based motorfactor, Pigma, and tyre distributor Megashina. With over 10 years in the market, LLC Trade House Pigma (Pigma), is reportedly a dynamic company that sells more than 27,000 auto components from approximately 40 producers to over 1500 customers throughout Russia and CIS. Pigma also built a network of seven tyre service retail centres in Nizhny Novgorod – which it sold to Amtel-Vredestein in March 2006.

8th August 2006/by Tyrepress Editors

Amtel-Vredestein to acquire Moscow tyre plant

Tyre maker Amtel-Vredestein N.V. said it is acquiring the Moscow Tyre Plant (MTP) in a deal that will provide it with production capacity to meet growing demand in Russia. The company said it plans to use the facility to manufacture its Amtel and Vredestein brands, which are in short supply due to capacity constraints. Working at full capacity, the Moscow Tire Plant could bring Amtel $66 million to $82 million a year in added sales, the company said in a statement.

26th July 2006/by Tyrepress Editors

Former Deutsche Bank CEO Joins Amtel-Vredestein

Amtel-Vredestein N.V. has named Hubert A. Pandza as an independent director of the company’s supervisory board. The announcement was made at the company’s annual general meeting held in Amsterdam 26 June.
Mr Pandza is the outgoing Business Group Director of EBRD and a former executive of Deutsche Bank, Moscow. He had headed EBRD’s Russia & Central Asia Business Group and the Group for Small Business from the company’s London Headquarters since 2002. Previously, he worked for over 25 years at various posts in Deutsche Bank, including the position of CEO of Deutsche Bank, Moscow.

7th July 2006/by Tyrepress Editors

Vintage Tyre Supplies: Looking Back, Moving Forward

If ever there was a competition for a company whose name tells you exactly what the company does, then Vintage Tyre Supplies would surely be in with a shout. Even the location of its head office – a few seconds' stroll from the Beaulieu Motor Museum – underlines what the company is about.

Vintage Tyre Supplies is, quite simply, a leader in what could be described as "a global niche", sourcing and selling vintage and classic tyres around the world. "Our business is growing and our overseas markets are developing steadily," says VTS managing director Chris Marchant.

30th June 2006/by Tyrepress Editors