MITAS Tyres to feature more prominently in the UK market

London - November 15, 2011: MITAS TYRES LIMITED, the UK’s leading off-road tyre specialist and one of the fastest-growing tyre manufacturers, has announced that its Mitas-brand will feature more prominently as part of its UK business strategy.

Outlining the company’s strategy, Jon Ward, Managing Director of Mitas Tyres Limited - the UK subsidiary of MITAS a.s., the Czech Republic-based manufacturer of agricultural, construction, industrial and other off-highway tyres - stated:

“We feel that now is a good time for the Mitas brand to step into the limelight, as it now offers a range which is at the forefront of tyre technology. Mitas has progressively developed its research and development, design, technology and production capabilities. Recently, we introduced the Mitas RD-03 65-Series Radial Traction Tyre, Mitas RD-05, together with the AC85 and AC90 row-crop tyres which were developed specifically to meet the requirements of farmers in Europe and North America. One of the latest releases is the Mitas CR-01 for mobile cranes, a new generation of all-steel radial which provides higher resistance to punctures, reduced rolling resistance, lower fuel consumption, improved durability and greater comfort.

“The Mitas name has been in use since 1947 and is now well-established. Mitas now offers a comprehensive range of tyres for tractors, trailers and agricultural equipment, together with industrial Multi-Purpose (MPT) and Earthmover (EM) tyres. It is also present in the off-road motorcycle and aircraft tyre segments.”

The global tyre market is worth approximately 120 billion USD, of which approximately 88% is for radial passenger and radial truck tyres which represents the main area of interest for most major producers. The remaining 12% is accounted for by specialist products, the focus for Mitas Tyres which has approximately 10% of the worldwide market for agricultural tyres, making it the fourth largest producer.

In Europe, Mitas accounts for 28% of the Original Equipment (OE) market and 19% of the replacement market in the radial drive sector. In the OE sector, Mitas accounts for 19% of tyres used by AGCO Group, 25% by John Deere, 26% by CNH, 36% by Claas, 55% by Argo Group and 70% by Same Deutz-Fahr, with deliveries to all of these companies forecast to increase further during the next five years.

Outlining the success of Mitas Tyres Limited in UK market, Jon Ward stated:

“The annual turnover of Mitas Tyres Limited has increased significantly, from £13.25 million in 2008, to more than £20 million for 2011. We have enjoyed exceptionally strong growth in the UK across all major off-road sectors. In bucking the industry trend of stagnant or falling sales currently being experienced by many other tyre companies, we increased year-on-year sales by 29% with strong growth across all market sectors. Mitas products have enjoyed a rapid increase in popularity in the replacement market and are now specified by the major UK based manufacturers of agricultural and construction machinery, including JCB, CNH and Terex. This success is due to a growing realisation amongst buyers of the high quality, good value and increasing choice offered by Mitas Tyres.

“As a vibrant, dynamic, service-driven company with a clear commercial strategy we are very active in responding to customers’ requirements and offer an excellent package of product/commercial benefits. That approach has helped us to secure considerable new business in a very competitive environment during the last two years and we expect the growth to continue. Mitas Tyres Limited is now well-positioned to meet customers’ requirements and exceed their expectations when it comes to product support. There has been a growing acceptance of our products in the marketplace and once customers have tried our products and experienced the exceptional service we offer they have no hesitation in returning to Mitas.

“The agricultural sector accounts for some 80% of our business and with UK farms averaging 80ha our target market includes some of the largest in Western Europe. The UK has one of the highest tractor registration figures in Western Europe, while shipments of agricultural equipment from manufacturing facilities in the UK totalled £2.15 billion in 2009 and are expected to increase to £2.4 billion by 2019. All of these factors provide us with considerable potential for further sales growth during the coming years, and our ability to do so will increase when production reaches full capacity at the new Mitas production facility in Charles City (Iowa, USA) during early 2012. Consequently, we are extremely confident about the future.”

Mitas Tyres are available from tyre distributors throughout the UK. Further details are available from Mitas Tyres Limited, Unit 6, Bergen Way, North Lynn Industrial Estate, King’s Lynn, Norfolk, PE30 2JG. Tel: 01553 817740 or go to www.mitas-tyres.com

NOTES FOR EDITORS

For further information please contact:

Charles Macdowell or Julian Cooksley, Kendalls Communications:

Tel: 01394 610022 or Email: Charles.macdowell@kendallscom.co.uk

or

Jon Ward, Managing Director, Mitas Tyres Limited:

Tel 01553 817740 or Email: jon.ward@mitas-tyres.com

Digital images are available to illustrate this press release.

Please email Kerry-Anne.Rookyard@kendallscom.co.uk

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