Reifen China Set for November
The fifth annual Reifen China will take place at the Shanghai New International Exhibition Center on Nov. 22-24. Organized by Messe Essen and the China United Rubber Corp., the event will run concurrently with Rubber Tech China. In 2010, more than 9,356 visitors from 75 countries attended Reifen China, up 30% from the previous year.
Conti Looks to ‘Double-Digit’ Growth This Year
Following a 2010 in which set targets were "clearly surpassed," Continental AG says it aims to achieve double-digit growth this year. At the company’s annual financial press conference, held on Mar. 3, CEO Elmar Degenhart reported a sales growth of almost 30%, to 26 billion euros. This represents record sales for the automotive supplier, a
Techking Gets Mexico Certification
Techking Tires Ltd.’s Effiplus passenger tire line has received the Nom Safety Certificate from the Mexican government. It is the fifth international certification Techking has received, the company claimed, including the GCC in the Middle East, the ECE and S-mark for European countries and Soncap for Nigeria.
Hankook Hungary Plant Facing Strike
The Budapest Business Journal brings news of a potential wage-related strike at Hankook Tire Co.’s plant in Hungary. Production apparently may come to a halt there "within days," following the establishment of a workers’ strike committee. The union representing employees at the South Korean manufacturer’s RÁcalmÁs, Hungary, facility is reported as saying more than 1,700
Conti reports global growth in winter, OEM sectors
On March 3 Continental AG will hold its annual press conference, at which it will provide detailed information on its performance in 2010, a year in which the automotive supplier says it emerged from the crisis "in impressively good shape." The company has already reported an increase in annual sales from 20 billion euros in
Kwik-Fit, Stapleton’s to Remain Separate: Itochu
Following the news that the Japanese conglomerate that own Stapleton’s Tyre Services has bought Kwik-Fit, Itochu Corp. has clarified that while the group is interested in "know-how" synergies between the businesses, they will continue to be run as completely separate entities. In an official statement dated March 3 confirming the Kwik-Fit acquisition, Itochu Group representatives
Reports Confirmed: Itochu is New Owner of Kwik-Fit
Kwik-Fit Group has confirmed earlier reports that PAI Partners has sold the fast fit chain to the Japanese Itochu Corp. for £637 million. The purchase price is said to include £457 million of debt, which will be paid off in full at completion, according to a Financial Times report. The deal is reportedly Itochu’s biggest
Cooper Becomes Sole Owner of China Plant
Cooper Tire & Rubber Co. announced it has reached an agreement to buy out Kenda Rubber Industrial Co. Ltd.’s share in the two tiremakers’ joint venture plant in Kunshan, China, for $116.5 million. Previously, each company held a 50% share. The transaction should be completed by March 15 through a wholly-owned subsidiary of Cooper and
Vredestein Campaign Covers Billboards Across Europe
Residents of 37 European cities are the target audience for Vredestein’s largest-ever billboard campaign. To coincide with the opening of the Geneva Autosalon, the Dutch brand has taken a total of 10,156 square meters of advertising space in prime locations.“Outdoor mass communication has become an important element in Vredestein’s marketing strategy,” the tiremaker explains. “To
Pirelli Debuts Snowcontrol Serie 3 Winter Tire
Pirelli said it will introduce its Winter Snowcontrol Serie 3, the new high-safety winter tire developed to tackle the road conditions typical of autumn and winter, at the Geneva Motor Show.According to the tiremaker, the Snowcontrol Serie 3 takes the features of its predecessor, Snowcontrol Serie II, and adds a new tread design, structure and