Giti Tire Group 2012 Sales Up, Income Stable
Last year the Giti Tire Group increased its revenue by 2.1% while its net income remained virtually at 2011 levels. The company told Tyres & Accessories that revenue increased year-on-year to 3.02 billion euros; in 2011 the total revenue for Giti Tire and PT Gajah Tunggal, with their factories in China and Indonesia, was 2.96
Giti Tire USA Adds Tread Academy for Dealers, Consumers
Tread Academy is an online training program to inform North American tire dealers and consumers about GT Radial tires, and offer information on tire technology and maintenance.
China Satisfaction Survey Puts Giti Tire on Top
Giti Tire has been named "Top Commercial Vehicle Tire Brand" in a countrywide study organized by China’s leading commercial vehicle magazine. Commercial Motor World’s survey involved live interviews with 110,000 participants over a six-month period, covered 24 tire brands and utilized the expertise of several leading Chinese universities. At its conclusion, Giti Tire won the
Giti Tire Joins U.K.’s TyreSafe
U.K. consumer tire safety outfit TyreSafe has announced that Giti Tire has become its first new member in 2013. Managing Director – Europe Richard Lyons said that Giti was demonstrating its commitment to customers’ safety and its products’ quality by joining the organization. TyreSafe chairman Stuart Jackson pronounced himself “delighted to welcome Giti Tire on
Raw Material Costs Drive Giti Tire Corp. 1H Profit
For the first half of the 2012 financial year, Giti Tire Corp. has reported revenue of RMB 2.06 billion, a year-on-year decrease of 7%. The Giti Tire Pte. Ltd. subsidiary says this decline was a combined effect mainly attributable to decrease in sales volume and increase of average selling price. Lower sales mainly reflected a
Credit Agencies Drop Giti Tire Rating
Credit agencies Fitch and Standard & Poor’s have altered their rating for Giti Tire Pte. Ltd. According to Fitch’s latest assessment, "Giti’s liquidity is likely to remain strained over the next 12 months because of substantial cash outflows despite the refinancing of the company’s notes." The agency went on to explain that it believes the
Giti Tire USA Tries to Clear Up Confusion
Earlier this month, a company called Giti Tire Corp. released its 2010 annual report to the Shanghai Stock Exchange.According to Giti Tire USA officials, Giti Tire Corp. is, in fact, a subsidiary of Giti Tire Co. Ltd., and its financial results “do not represent Giti Tire Co. Ltd. It is only the results of a
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
Giti Tire Blazes New Trail With New Champiro HPY HP Line
Giti Tire USA certainly made a lasting impression with its very first product demonstration event in North America – blistering track speeds on a blistering hot day in Arizona. The company unveiled its new Champiro HPY ultra-high performance line at Firebird International Raceway, where air temperatures hovered around 106F and track asphalt temps were measured
New Steer Radial from Giti Tire
Giti Tire USA has released the GT Radial GSL213, a new long-haul steer axle radial. Giti officials said the new GSL213 features “advanced technology and pattern design for outstanding overall performance, resistance to irregular wear and extended mileage.” GSL213 is now available across North America in sizes 11R22.5 14PR, 295/75R22.5 14PR, 11R24.5 14PR and 285/75R24.5