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A Pirelli PS22 tyre.
ECM Technologies have been appointed as the military distributor for Pirelli Tyres in South Africa, putting ECM in the unique position of being able to supply both tyres and runflat systems, through partner RunFlat International.
For more than two decades, ECM Technologies have been supplying military customers in South Africa with runflat systems from RunFlat International in the UK so it was logical for ECM to distribute tyres as well.
“Both Pirelli and RunFlat International are premium products with a long pedigree of performance in the demanding arena of military vehicles and ECM are delighted to be able to offer this one-stop facility to the local defence market,” said Eric Milburn of ECM Technologies.
Prometeon Tyre earns higher margins despite pandemic rubbernews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rubbernews.com Daily Mail and Mail on Sunday newspapers.
Prometeon s 2020 earnings off slightly on 15% lower sales
Prometeon s 2020 earnings off slightly on 15% lower sales
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MILAN, Italy Prometeon Tyre Group S.r.l (PTG), the former Pirelli commercial tire business, reported a slight drop in pre-tax operating income in fiscal 2020 on 15.2% lower sales.
Operating income (EBITDA) fell to $140.8 million on sales of $1.04 billion. As a result, the operating margin rose nearly a point and a half to 13.6%, the company said.
Net earnings fell 65.4% to $3.07 million.
Prometeon attributed much of the sales decline to an exchange rate effect in Latin America.
Prometeon Tyre CEO Giorgio Bruno noted the 2020 performance marks the completion of a turnaround process launched three years ago. During that time, the firm implemented several strategic initiatives that have made Prometeon healthier, stronger and more resilient in an unprecedented scenario.
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Increasing preference for utilizing advanced and modern equipment in agricultural activities has significantly favored tractors adoption, which boosts the OTR tires market demand. With the rising population globally, food production has increased, which is a factor fueling the demand for tractors and agriculture equipment vehicles, therefore driving the market growth of OTR tires.
The OTR Tires Market is expected to grow at the rate of 3.4% CAGR by 2026. The OTR tires or off-the-road tires are made up of resistant compounds to provide proper grip on rough surfaces, including mud, stones, or sand. The tires have in-depth and strong treads which can be deployed to any vehicle. These tires are mainly designed to be used in extreme situations and provide safety, high performance, and quality. In the mining and construction areas, the surface is uneven and rough since the OTR tires are considered compatible wit