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You are here: Home1 / Poll2 / 20023 / December

Nokian And Amtel Sign Joint Venture Agreement

Product News

Nokian and Russian company Amtel Holdings have formally signed the joint venture agreement to produce and sell passenger and light truck tyres in Russia and CIS countries under the Nordman and Amtel brands. 900,000 tyres will be produced next year and 3,600,000 the year after. Upgrades of Amtel factories will require investments of US$ 25 million and the two partners intend to build a greenfield factory in Russia to produce premium tyres under the Nokian brand. The target is an annual production of 1.2 million tyres within three years of the start of the project.

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  1. Nokian Buys Russian Retreader
  2. Pirelli Opens First Tyre Plant In China
  3. Nokian to Install Three New Production Lines in Russian Factory
  4. Pirelli Set to Build New Russian Plant
30th December 2002/by admin

Pirelli Wins Cable Contract

Product News

Pirelli has won a contract worth more than 30 million Euros to manufacture and lay a 1,400 km-long fibre-optic cable, which will connect the networks of Iceland, the Faroe Islands and Scotland. The contract was awarded by Icelandic company Farice Hf.

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  1. Winter Snowcontrol/Scorpion Ice&Snow From Pirelli
  2. Pirelli Teams Up With Maserati In US Race Series
  3. Central Tyre Gives Away Sensor Valve Caps
  4. Bespoke Pirelli tyres for Ferrari’s first 21-inch fitment
30th December 2002/by admin

Changes At Bridgestone USA

Product News

Noburo “Tim” Kawakami, president of Bridgestone/Firestone manufacturing operations in the USA, is to retire on March 31 next year. His place will be taken by Masao Wada, currently manager of the factory at Aiken County, South Carolina, and succeeding Wada will be Mike Rose, operations manager at the facility. In keeping with events in Europe, the American subsidiary is changing its name, from Bridgestone/Firestone Americas Holding to Bridgestone Americas Holding.

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Related news:

  1. Start Of Tyre Production At Bridgestone Poland
  2. Warranty Changes At Bridgestone/Firestone USA
  3. Firestone Sole Tyre Supplier for Combined IndyCar Series
  4. Alliance Tire USA Names Two Key Positions
30th December 2002/by admin

Feu Vert Buys 55 Centres From Carrefour

Product News

French fast fit auto chain, Feu Vert has purchased 55 auto centres which operate from Carrefour shopping centres in France. This brings the number of Feu Vert centres to 370. 300 in France and 62 in Spain, plus others in surrounding countries. Feu Vert turnover is now in excess of 700 million Euros. The company is 62 per cent owned by Monnoyeur and 38 per cent by Casino. The company is also the majority shareholder in Mondial Pare-Brise – the auto windscreen company.

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  1. EU Raids Carbon Black Makers (Update)
  2. Western European Car Sales Fall In November
  3. Michelin Wins Frost & Sullivan Consumer Choice Award
  4. Pneu-Logic and EDP Plan Major Growth For End of 2008
30th December 2002/by admin

Nigerian Standards Organisation Destroys Sub-standard Tyres

Product News

The Standard Organisation of Nigeria (SON) has recently destroyed large amounts of sub-standard goods in a move designed to emphasis the need to improve the quality of goods traded in Nigeria. The latest batch of goods to be destroyed included second-hand tyres imported and sold by Sanusi Gbenga Tyres Enterprises. According to a spokesman for SON the tyres which were branded Dunlop, Michelin, Continental and Kleber were full of flaws, cracks, blisters, and foreign materials. These, according to him, are unreliable and potential death-traps.

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  1. Dunlop Bike Tyre Scores Well in Second Test
  2. High performance tyre sales support UK market development
  3. Atlas Tyre Breaks the Million Pound Barrier
  4. German tyre test votes Conti best in wet and snow
30th December 2002/by admin

Bridgestone Gets Go-Ahead For Indian Investment

Product News

Indian Commerce Minister Arun Shourie has approved 23 foreign direct investment deals, worth 920 million Rupees (US$ 19.1 m). One of these is for Bridgestone to increase its equity holding in its Indian subsidiary from 90 per cent to 100 per cent, with an investment of 666 million Rupees (US$ 13.85 m).

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  1. Bridgestone Lowers Profit Forecast
  2. Slovakia could become auto hub
  3. Bridgestone, Goodyear Receive NC Incentives
  4. Transense confirms Bridgestone cooperation
30th December 2002/by admin

2002 US Tyre Shipments Rise

Product News

In the USA, the Rubber Manufacturers Association is predicting that 2002 tyre shipments for new vehicle owners will rise by 7.3 per cent to 58.5 million units. This rise is fuelled by the heavy incentives and zero-finance offers from car manufacturers. The RMA also forecasts that car tyre OE shipments next year will stay flat and are expected to rise again in 2004 as the economy improves. An improved economy will also mean an increase in truck and trailer tyre shipments, says the RMA.

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  1. US Tyre Demand to Increase by 4.1 per cent
  2. US Tyre Shipments Increase 2.2 per cent
  3. Cooper Tire Reducing North American Production
  4. Firestone Natural Rubber Extends Cargo Donation Programme
30th December 2002/by admin

Ansell-Goodyear CEO Departs

Career Tracks

The chief executive of Australian joint venture Ansell-Goodyear has departed suddenly, with no reason given. Rob McEniry is regarded as the main force behind the renaissance of South Pacific Tyres, in which Ansell-Goodyear has a 50 per cent stake, consolidating to two manufacturing sites and taking out A$85 million of annual costs. SPT is moving towards profitability and an Ansell spokesman was confident that McEniry’s departure would not adversely affect the reconstruction programme.

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  1. Michelin Celebrates ‘Navy Week’, but has Goodyear Trained its Guns on Military Contracts?
  2. Titan CEO Says He’ll Buy Plant With or Without Union
  3. CGS buys Savatech
  4. HR manager first Yokohama Mississippi employee
30th December 2002/by admin

Michelin Tops UK OE J D Power Study

Product News

The 2002 J D Power UK original equipment tyre satisfaction study has named Michelin as top performer, for the fifth year running. The survey asks more than 2,500 UK motorists to rank their OE tyres in a number of categories; quality/durability, appearance, traction, ride/handling and effect on fuel economy. Michelin achieved top ratings in all sectors. Continental achieved its highest-ever ranking, coming second, scoring well on traction, ride/handling and fuel economy. Goodyear came third, with an index score at the industry average level.

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  1. Michelin Kicks Off Tyre Pressure Campaign at Eurotunnel
  2. Michelin launches its ‘recession’ tyre
  3. Vredestein Sportrac 2 Tops Auto Express Test
  4. 10% of UK Motorists Driving on Illegal Tyres – Conti Survey
30th December 2002/by admin

Cooper Third Quarter Sales And Profits Up

Product News

Cooper Tire & Rubber has reported its third quarter figures. Net sales were up 6 per cent to $839 million (3Q 2001: $791 m). Operating profit was $55 million and net income was $23 million, 28 per cent up on the 3Q 2001 figure of $18 million. Comparing the first nine months with the same period last year, net income rose 87 percent, from $47 m to $88 m, while operating profit was $195 m, compared to $137 m. Cooper’s tyre sales in North America declined by one per cent during 3Q, but this compared to an industry decline of nearly 8 per cent. Operating profit for the tyre group in 3Q was $27 m. This compares to a loss in 3Q 2001 of $9 m, but this figure was affected by charges related to a proposed class action litigation settlement.

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Related news:

  1. Strong Sales Push Cooper to Strong First Half
  2. Record Second Quarter For Cooper
  3. Cooper Completes Sale of Automotive Unit
  4. Cooper Appoints Three to Marketing Posts
30th December 2002/by admin

Michelin To Buy Viborg

Product News

Michelin has signed an agreement to buy the Viborg distribution chain for the sum of 300 million Euros to add to its Euromaster chain. Viborg operates from 465 sales points in Germany, Denmark, Switzerland, Austria and The Netherlands and the acquisition will add around 570 million Euros to Michelin’s tyre distribution sales, pushing them over 2 billion Euros. Viborg employs 3,400 staff. The deal is subject to approval by the European Commission.

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Related news:

  1. Romanian Acquisition For Michelin
  2. Michelin To Buy 10 Per Cent Of Hankook
  3. European Commission Gives Go-Ahead To Viborg Purchase
  4. Michelin Doubles Net Income
30th December 2002/by admin

Lampe Named “Rubber Industry Executive Of The Year”

Product News

Rubber & Plastics News, a sister magazine of Tire Business, has named Bridgestone/Firestone Chairman and CEO John Lampe (53) as the “Rubber Industry Executive of the Year”. The award is in recognition of Lampe’s leadership in the company’s rebound from the Firestone tyre recall, which was at its height when Lampe assumed the top job. He was reluctant to accept the award at first, fearing that it would overshadow the part played by employees, dealers and customers. The company’s recovery is such that it expects to report a net income of $70 million for 2002, compared to a net loss of $1.67 billion in 2001.

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  1. BFS Renegotiating Plantation Agreement in Liberia
  2. Bridgestone Disputes Liberian Government Pollution Claims
  3. Bridgestone’s Akron Tech Center on Track
  4. Fuel-Saving Tyre from Bridgestone
18th December 2002/by admin

Amcast 1st Quarter Results

Product News

Amcast Industrial Corp. has reported results for fiscal 2003 1st quarter. Sales were up 15 per cent at $155.8 million (1Q 2001: $135.2 m). The net loss was $7.2 million ($5.5 m). Adding the cumulative effect of an accounting change increased the net loss to $53.7 million. North American Automotive sales were up 29 per cent while sales at Speedline in Europe rose 13 per cent. Operating expenses decreased by 2 per cent in the quarter, which Joseph R. Grewe, President and COO, described as “encouraging”.

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  3. First Quarter Delivered ‘Unprecedented’ Low Demand, Says Rhodia
  4. Despite lukewarm Q4, Nexen achieves record sales, operating income in 2012
18th December 2002/by admin

Analysts Rate Michelin

Product News

Ipsos has carried out a study of Michelin’s financial image, asking 251 European financial analysts and 517 French people owning securities. They rated the company under a number of headings and Michelin’s overall performance was generally very good. It scored particularly well in the sections “In financial terms, its forecasts always match its achievements” and “It is particularly capable of reacting to the economic situation”. 80 per cent of the analysts and 56 per cent of the private investors said that they were “confident about the share’s performance” over the next six months.

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Related news:

  1. Michelin Changes Accounting Standards
  2. Hankook Execs Predict Slow Tyre Market for 2006
  3. Analysts Forecast Good Q1 Results from Michelin
  4. Continental to Increase Prices at Start of 2007
18th December 2002/by admin

Challenge Bibendum Winner

Product News

An international jury of experts has named the Bertone-SKF Novanta as the winner of the 2002 Challenge Bibendum Award. Designed and built by Stile Bertone in Caprie, the Novanta is a working concept car, first shown at the Geneva Motor Show. Drive-by-wire technologies from aeronautics were developed in collaboration with SKF and conventional hydraulic and mechanical devices were replaced by intelligent electromagnetic systems, allowing extensive interior redesigning. The award was presented by Edouard Michelin.

Read more

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  1. New Flagship Tyre From Bridgestone
  2. Goodyear Sponsors Geneva Motor Show
  3. Replacement market debut for Potenza run-flat
  4. Geneva Motor Show 2021 “very uncertain”
18th December 2002/by admin
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