More on Apolllo’s Eastern (Europe) Intrigue
In the last year or so conflicting reports on Apollo Tyres’ plans to set up a factory in Eastern Europe have circulated. In March 2010 it was said plans for a new plant there had been dropped in favor of a focus on expanding the former Vredestein facility in the Netherlands, while later in the
Slow Pricing Reaction Cost Giti Tire in 2010
Giti Tire Corp. (a Shanghai-listed company) recorded a 64% year-on-year drop in 2010 net profit attributable to shareholders to 54 million yuan. This was despite a 36% year-on-year increase in revenue to 3.61 billion yuan, according to a company filing. The reason for the lower profits is said to be the fact that the company
P&G Exec Named to Goodyear Board
The vice chairman of Procter & Gamble Co. is the latest P&G executive to join Goodyear – this time on the board of directors. Werner Geissler, vice chairman of global operations, has been elected to the Goodyear board. Geissler, 57, joined P&G in 1979, and served in various capacities in brand and general management at
Fast-Growing Russian Car Sales Driving Tire Surge
While the development of the Russian car market (and also tire sales) has been somewhat chaotic in recent years, the government and companies such as Rolf Group are optimistic about the future. And that is good news for Kwik-Fit’s Russian partner and other tire retailers, too. In February the Russia Trade and Industry Ministry forecasted
Yokohama Sets Lease for Philippines Expansion
To fulfil plans to increase tire making capacity, Yokohama Rubber Corp. has signed a contract to lease a 300,000-square-meter section of land adjacent to the Yokohama Tire Philippines plant, some 60 kilometres northwest of Manila. The leasing contract for the land at the former U.S. Air Force base was signed between Yokohama and Clark Development
Mitas Dropping Conti Brand for Row Crop Line
During the course of 2011, the CGS Group will introduce a new Mitas branded range of tires for use in row-crop agriculture into its global markets. This Mitas range will replace the existing Continental brand row crop tires that Mitas has been producing under license since 2004. “Mitas brings premium quality to the row-crop tire
Yokohama Makes Management Changes
Three changes within Yokohama Rubber Corp.’s senior management were decided upon at the company’s board of directors meeting on Feb. 14. These changes, effective Apr. 1, include the promotion of Hikomitsu Noji to a director and senior managing corporate officer role. Noji is currently director and managing corporate officer, president of Yokohama’s tire group and
Two New Bandag Mixed Service Treads Hit Europe
Two new mixed service treads have been added to the European Bandag range, and Bridgestone Europe says both products deliver up to 15% higher milbaneage, along with a lower cost per kilometer, than their predecessor treads, the BDY3 and BZY2. The treads are the Bandag Drive Mixed Service (BDM1) and the Bandag Rib Mixed Service
Bridgestone’s Profits Up – For Now
Bridgestone Corp. said its profits climbed in 2010 on strong tire sales, but forecasted a profit decline this year due to higher commodity prices and the impact of the strong yen. Bridgestone, which battles Michelin to be the world’s top tiremaker, reported a net profit of 98.91 billion yen ($1.18 billion), a huge rise from
Hankook, Goodyear, Yokohama Win at Tire Technology Awards
The products and activities of three tiremakers have been acknowledged at the Tire Technology International Awards for Innovation and Excellence 2011, presented in Cologne, Germany on Feb. 16. Hankook Tire earned the "Tire Manufacturer of the Year" award, while Goodyear took the award for "Tire Technology of the Year" and Yokohama Rubber Co. was awarded