Tyre Archives — City Business News

July 2, 2021 No Responses

Pirelli Investor, Camfin Ups Stake To 14%

Pirelli investor, Camfin, has increased its stake in the Italian tyre maker to 14.1% as a result of its previous deal with Longmarch, the investment vehicle of China‘s Niu family.Under the deal, Longmarch will take a 7.68% stake in Pirelli through an.....

June 9, 2021 No Responses

Michelin Announces Price Hike In Africa, India, Middle East

By citybusinessnews@yahoo.com — French tyre maker, Michelin on Tuesday announced that it will increase prices by up to 6 and 8 percent in Africa, India and Middle East region with effect from June 18, 2021. Under the arrangem...

February 19, 2021 No Responses

Michelin Explains Drop In Sales, Grip On Profit

French tyre manufacturer, Michelin, has explained that it remained profitable in 2020 despite a pandemic-induced drop in sales, thanks in part to prices dropping on raw ma taking a hit worldwide, Michelin also saw its sales drop by 15 ...

January 9, 2021 No Responses

Michelin To Sack 2,300 Workers

French tyre maker, Michelin, has announced plans to cut up to 2,300 jobs over three years as part of a new simplification and competitiveness plan in France, adding this would not involve layoffs nor plant closures.The job cuts equate ...

October 16, 2020 No Responses

Pirelli Reboots Research, Development

When the coronavirus pandemic forced Italian tyremaker Pirelli to temporarily shut its factories in March, R&D chief Pierangelo Misani needed a rapid rethink.With a new range of products due to be launched by early next year at the latest, Misani...

June 24, 2020 No Responses

US Probes Tyre Imports From South Korea, Thailand, Taiwan, Vietnam

The U.S. Commerce Department said on Tuesday it had opened investigations into vehicle tyre imports from South Korea, Taiwan, Thailand and Vietnam to determine whether the tyres are being sold at less than fair value.The department said it was also investiga...

May 9, 2020 No Responses

Ceat Extends Warranty On Tyres

Ceat Tyres on Friday said it has extended warranty on tyres by three months to support customers due to coronavirus– lockdown.The decision to extend warranty on tyres has been taken to express solidarity with customers amidst the continued lockdown, ...

February 21, 2020 No Responses

Pirelli Unveils New Agenda For Growth

Pirelli has disclosed plans to focus on its premium products and cost-cutting measures to drive a gradual increase in core profit margins over the next two years. Announcing its strategic plan along with annual results, the group said its margin...

February 12, 2020 No Responses

Michelin Projects Lower Income In 2020

French tyre maker, Michelin on Tuesday projected lower operating income in 2020, saying the forecast did not include the systemic effect of the coronavirus crisis in China. The Paris-based company, which restarted operations in its three factories in China on....

February 8, 2020 No Responses

Pirelli To Double Dealer Network

Italian tyre major, Pirelli has drawn up a plan to double its distribution network to 1,200 by the end of next year in India. The company, known for premium and prestige tyre range, majorly caters to cars and motorcycle segments....

November 10, 2019 No Responses

Bridgestone To Merge Operations In Africa, India, Others

Bridgestone Tyre is to merge its India business with Europe, Middle-East and Africa (EMEA) block with effect from 2020. According to the company, the move is aimed at unlocking untapped potential in both India and EMEA. The integration of India...

November 3, 2019 No Responses

Michelin Pavilion At The Ongoing Lagos International Trade Fair

November 1, 2019 No Responses

India Records 12% Increase In Tyre Exports

The Automotive Tyre Manufacturers Association (ATMA) on Thursday revealed that Tyre exports from India increased by 12% in volume between April-August 2019. The India tyre exports hit double-digit growth between 2016-2017 when it increased by 16%. ...