As always, the Geneva Motor Show 2014 was a great place to meet people. Neeraj Kanwar of Apollo told me that despite some newspaper reports to the contrary, he does not rule out working in China at some stage in the future. In common with Continental, Hankook, Kumho, Goodyear and others, however, he says Apollo
Stock markets have punished Apollo Tyres for its audacity in daring to seal the biggest overseas deal in India’s corporate history – the acquisition of US-based Cooper Tire and Rubber. The share price of Apollo has fallen by around one third since the deal was announced. I’m trying to work out if this is justified
Tire manufacturing in Europe is going through something of a crisis. In January Goodyear announced the closure of its factory in Amiens-North. Last month Bridgestone announced the closure of its factory in Bari, Italy. None of this has provoked much debate Rumours that Michelin will reduce its output, however have triggered a string of comment
Three key stories emerged from the opening day of the Geneva Motor Show. ETRMA members met in Geneva and agreed to work together to help governments enforce the EU Labelling scheme Tire makers see the EU car tire sales downturn as structural – no recovery any time soon. BMW once again leads the OE field
Anyone who follows the news will have seen the letter from Titan CEO, Maurice (Morry) Taylor to the French Industry Minister, Arnaud Montebourg. It suggests that French workers are lazy and unproductive. Taylor adds that he has no interest in buying the factory in Amiens from Goodyear. Rather than take on the French unions, he
Tire companies are reporting their results. So far Michelin, Goodyear, Yokohama, Toyo, Nokian, Hankook and Nexen have all reported for 2012. Indian companies Apollo, MRF, JK and Ceat also reported for the quarter ended December 2012, but their financial year runs from April to March, so they will not report full-year figures until May. Premium
Goodyear Dunlop Europe is to close one of its two factories in Amiens, France. The move was predicted by Tire Industry Research weeks ago. The news was released to workers at the factory and on the US Securities and Exchange Commission on 31 January, 2013. Goodyear did not make a public announcement of the move,
In a recent presentation to analysts, by Goodyear’s CFO, Darren Wells, he said the main challenge for Goodyear’s strategy today is to put its European operations in order. I’ve been following the press and analyst coverage of Goodyear’s strategy. I think his comments have been misinterpreted. I listened to the presentation over the internet. Afterwards,
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