Hankook Chiefs Make Forbes Lists
Forbes magazine has declared that Cho Yang-Rai, chairman of Hankook Tire Worldwide, has joined the ranks of the world’s billionaires. According to Forbes, which compiles multiple global and by-country lists of millionaires and billionaires, said that Cho, 75, "owns 15.99% of Hankook Tire, which trades on the South Korean stock exchange. His stake in the
Profits Surge as Apollo Reports FY2013 Results
For Apollo Tyres, the 2013 financial year ended on March 31, and the tiremaker reports that its profit was up almost 50% for the full year. Apollo’s net profit for its recent fiscal year amounted to Rs 6.1 billion, a 48.8% year-on-year increase on the Rs 4.1 billion earned in the previous financial year. Net
Schaeffler Ending Conti Investment Agreement
Schaeffler Group has given notice that it is ending its mutual investment agreement with Continental AG. Unless there is a change of heart, the agreement will terminate in May 2014.
U.S. Initiative for Responsible Used Tire Disposal Launched
A new initiative to help garages and tire retailers across the country has been launched by the Tyre Recovery Association. The Responsible Retailer Certificate of Compliance will be awarded to retailers meeting best practice standards set by the Tyre Industry Federation Responsible Recycler Scheme. The TRA says that the new scheme is designed to help
Test Shows Bridgestone OE RFT Level With Conventional Tires
Run-flat tires have often been blasted for the inferior comfort they deliver, however a recent European test gives hope that puncture avoidance may no longer equal a harsh ride. German motoring organization ADAC and Austria’s OAMTC put four Bridgestone run-flats to the test, and found one to offer comparable ride comfort and fuel consumption to
Malaysia Can Become Global Tire Center: Official
Malaysian officials feel the country is ripe to be a major global player in the tire industry. International Trade and Industry Ministry secretary general Dr. Rebecca Fatima Sta Maria said there is ample room for Malaysian tire export growth, according to the Malaysian Star newspaper. She recently said Malaysia’s export of tires and tire-related products
TIA’s Littlefield Featured Speaker at Autopromotec
Roy Littlefield, TIA executive vice president, will be a featured speaker at next week’s Autopromotec 2013. Autopromotec, the biannual international automotive aftermarket trade show, will take place from May 22-26, in Bologna, Italy. Littlefield will speak on the subject, “Understanding the U.S. Automotive Aftermarket,” which is being developed in collaboration with the Automotive Aftermarket Industry
First Test Tires Roll at New Kenda Plant
Kenda Tire Co. president Jimmy Yang said his company has successfully produced the first test tires at its new tire plant in Tianjin, China. "After years of hard work and planning, we are so excited to see our third automotive factory completed and running," said Yang, "We are excited to bring the quality of a
Petlas Launches Revised Website
Turkish ag tire manufacturer Petlas has a new website at petlas.com, which the company said is an easy-to-use, one-stop resource for customers.
50 Years Together: Pirelli and Lamborghini Mark Anniversary
2013 marks the 50th anniversary of Lamborghini, and the 50th anniversary of the Italian tiremaker’s partnership with supercar producer Lamborghini.
Kumho Shakes it Off, Posts Positive Results for 2012
After years of losses, most due to the extensive "workout program" it undertook when its then-parent company faced financial difficulties, Kumho Tire Co. has posted positive sales and net earnings numbers. For its fiscal 2012, Kuhmo reported record sales of $3.62 billion, up 4% year-over-year, resulting in net income of $116.2 million. Operating income registered
Slots Still Open for Latin American & Caribbean Tyre Expo
Booth reservations for the Latin American & Caribbean Tyre Expo have been extended to May 15. The show, which will be held July 24-27 at the Atlapa Convention Center in Panama City, Republic of Panama, is the largest exhibition in the tire, wheel and equipment industry in Latin America and the Caribbean, according to event