Tire and Rubber Association of Canada (TRAC) Welcomes New Members: BKT Tires and Huayi Tire

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Cambridge, ON, May 17, 2018 – Tire and Rubber Association of Canada (www.tracanada.ca), the national trade association representing tire makers, rubber products manufacturers, importers, and recyclers, welcomes BKT Tires and Huayi Tire. 

The two companies join the other 24 members of TRAC and will benefit from the association’s industry leadership role in the North American tire industry. “We are thrilled to welcome these two important global industry players on board, and we are looking forward to a long-lasting and cooperative relationship that will be beneficial to all of our members and the industry as a whole,” said Glenn Maidment, President of the Tire and Rubber Association of Canada.

For the full list of TRAC members visit: https://www.tracanada.ca/membership/members.html

About BKT Tires

Balkrishna Industries Ltd. (BKT), www.bkt-tires.com, is an Indian based tire manufacturer. The BKT group offers full range of Off-Highway tires specially designed for vehicles in the agricultural, industrial, earthmoving, mining, ATV and gardening sector. BKT’s innovative solutions include more than 2,400 products sold in over 130 countries.

About Huayi Tire

Huayi Tire Canada, Inc., www.huayitirecanada.com, is a subsidiary of Shanghai Huayi Company, a global manufacturer of a diverse range of valued products including passenger and commercial and OTR categories tires. Huayi Tire Canada, Inc. brings a high level of logistics intelligence and integrity to match the product quality that Double Coin and Duraturn offer in each product.

 

SOURCE: Tire and Rubber Association of Canada (TRAC). info@tracanada.ca; www.tracanada.ca, www.betiresmart.ca, Twitter: @BeTireSmartCA, Facebook: betiresmartCA

Philpott pulls out of China, plans for growth

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AURORA, Ohio—A new Philpott Solutions Group is on the way, starting by shutting down operations in China and bringing them back to its new Aurora facility.

Read the source article at Rubber and Plastics News

Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018

Although held back by exchange rate effects, net sales at Nokian Tyres were higher in the first three months of 2018 than a year earlier. Sales were up 3.1 per cent to 336.0 million euros; had the exchange rate effect been neutral, the tyre maker estimates that net sales would have increased 9.3 per cent year-on-year. Nevertheless, Hille Korhonen, president and chief executive officer of Nokian Tyres, referred to the result as “a good start of the year.”

Read the source article at Tyrepress

Kumho’s 2017 profits plunge as materials costs rise, OE volumes fall

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SEOUL, South Korea—Kumho Tire Co. Inc. suffered an 81.2 percent drop in pre-tax operating profit for fiscal 2017, on 2 percent lower sales.

Kumho’s earnings before interest, tax, depreciation and amortization (EBITDA) fell to $57.4 million on sales of $2.55 billion, according to the company’s fourth quarter investor relations documents. As a result, the operating ratio fell more than nine points to 2.3 percent. The operating result turned red to the tune of $139 million. Kumho did not report net earnings.

Read the source article at Rubber and Plastics News

Cooper suffers double-digit earnings decline

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Findlay, Ohio – Cooper Tire & Rubber Co. suffered double-digit drops in operating and net income for the quarter ended 31 March 31, reflecting lower unit volume and costs associated with reduced manufacturing, the company said.

Operating income dropped 54.4% to $26.5 million on 6.5-percent lower sales of $601.5 million, cutting the operating margin nearly five%age points to 4.4%. Net income fell 72.9% to $8.29 million.

Read the source article at European Rubber Journal

eTracks Announces Appointment of CEO

The Board of eTracks is delighted to announce the appointment of Steve Meldrum as its new CEO.  Mr. Meldrum has spent the last 13 years as President and CEO of an environmental waste treatment technology company that grew from a start-up organization to an industry leader in the CleanTech space.

Steve has also spent 10 years in Management Consulting roles working closely with many start-ups and global Fortune 500 companies.  In addition, he has been a board member for many private companies as well being President of the Board of Directors for a Toronto-based not-for-profit.

Read the source article at eTracks

Kumho union votes for Doublestar takeover

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Seoul – Kumho Tire’s labour union has voted in favour of a plan to sell a 42.01% majority share of the South Korean tire maker to China’s Doublestar Tyre, according to business news website, The Pulse.

The 2 April report said more than 2,700 unionised workers took part in the vote, of which 60.6% were in favour of the sale to the Chinese company.

Chinese investors led by Qingdao Doublestar told ERJ in March that they had reached an agreement with Kumho’s shareholder Korea Development Bank to…

Read the source article at European Rubber Journal

Trelleborg details ‘complex’ integration of Mitas parent company

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TRELLEBORG, Sweden—The integration of Czech rubber company CGS with Trelleborg A.B. is proving to be a “relatively complex” process, according to President and CEO Peter Nilsson.

“In general, we have worked with it in two stages. The first one, which has started, was to secure and develop continued customer relations and sales channels,” the Trelleborg boss said in an internal interview published in Trelleborg’s annual report.

 

Trelleborg is focusing more on now is continuing to improve the cost and revenue aspects, in part by creating synergies.

“For example, it’s a question of how we can reduce the complexity in our manufacturing and make more efficient use of our manufacturing facilities,” Nilsson said.

According to the Trelleborg official, the company created a new sales organization in 2017 to better leverage synergies, which he said will mostly occur in 2018 and beyond.

Read the source article at Rubber and Plastics News

Kenda Adds Two to Automotive Business Team

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American Kenda Rubber has added a new marketing manager and sales/customer service representative to its team. Hayley Milne will join the Kenda’s American office as its marketing manger and Jin Daniels will take on a more sales and customer service-based role.

Read the source article at Tire Review

Nokian hires Clayco as design partner for U.S. plant

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COLCHESTER, Vt—Nokian Tyres P.L.C. is partnering with turnkey retail development firm Clayco Inc. to design and construct its $360 million tire manufacturing plant in Dayton, Tenn.

Read the source article at Rubber and Plastics News