(Akron/Tire Review) Continental Tire North America (CTNA) has entered into a joint marketing partnership with Wholesale Tire and Wheel Corp., North American marketers of the Giovanna custom wheel line. In the deal, CTNA will introduce a special limited edition ContiSportContact 2 Giovanna tyre. The new tyre will be launched at next week’s SEMA Show, and will be available in sizes 265/30ZR22 and 295/25ZR22.
Bridgestone UK has promoted Keith Thomas to the position of national account manager, with Simon Davies taking up Mr Thomas’ previous role as national account executive. According to Keith, the promotions illustrate Bridgestone’s commitment to enhancing its UK sales operations.
(Akron/Tire Review) In its third quarter financial results, Titan International released the names of those who are serving on its special committee to conduct sale negotiations with One Equity Partners.
(Akron/Tire Review) Titan International saw its third quarter sales and net profits drop year-over-year. Net sales for the period came in at $102.7 million, down from last year’s $116.5 million. Profits fell to $3.6 million from $9.9 million for 2004’s third quarter.
“Third quarter is always the toughest quarter due to Titan’s various shut downs, ‘and usually during the third quarter most OEMs adjust their inventory levels,” said Titan Chairman and CEO Morry Taylor.
(Akron/Tire Review) Yokohama Rubber Co. has released its Intelligent Tire Pressure Monitoring System (Intelligent TPMS), which not only measures tyre inflation pressure, but also identifies road conditions and tyre motion across the road surface.
Yokohama said that combined with “sideslip (stability control systems) prevention systems being installed on more and more vehicles, Intelligent TPMS can detect vehicle sideslips 0.2 seconds faster than existing systems – a difference of 11 meters of travel at a running speed of 100 kilometers per hour.”
Bridgestone Europe NV/SA announces that it will increase prices on all of its tyre brands and categories. It will apply to all replacement channels in all European countries. The increases are up to 5 per cent and are scheduled to take effect from 1 January 2006.
According to Guenter Unterhauser, senior vice president sales & marketing of Bridgestone Europe: “Our manufacturing divisions are facing huge increases in raw materials costs. The recent increases in oil based raw materials, as well as natural rubber and energy, puts us in the situation where we have to increase prices.”
Kumho UK has appointed Matt Smith as its new business development manager.
The new recruit brings with him 10 years of experience in the tyre and automotive sector and joins Kumho from Wagon Automotive where he held the position of BDM for European OEMs and 1st tier accounts. Prior to that he spent eight years with Goodyear in various technical and sales positions.
Hankook Tire Co said yesterday it will build a 500 million euro manufacturing plant in Dunaujvaros, Hungary, 68 kilometres south of Budapest. The European plant is expected to begin tyre production in the second half of 2007, the Korea Herald has reported. Te news comes following the collapse of a similar deal with Slovakia, which fell apart because of disagreements about government subsidies.
Before the Hungarian deal was finalised, local news sources had described the Hungary incentive package offered to Hankook Tire Co as a state secret. However, the reports said incentives include direct and indirect subsidies, tax breaks, training opportunities and infrastructure, amounts to no more than about 10 per cent of the total investment value.
SmarTire Systems Inc has published its results for the financial year ended 31 July 2005. The company reported revenue of $1.46 million compared to $1.66 million in 2004. Net loss for the year totalled $14.3 million compared with losses of $11 million in 2004.
French manufacturer Michelin claims to have reinvented the truck tyre. And following development after development over the years, this is no mean feat. According to the manufacturer, Michelin’s new Durable Technologies will offer improved mileage, payload and load capacity including gains of up to 50 per cent compared to “more traditional solutions.”
Michelin has criticised the FIA’s new Formula 1 rules, hitting out against the association’s “hidden motives.” In an official statement the French tyre manufacturer said it is “perplexed by the step backwards of the FIA’s F1 regulation for 2006” which it says are “incoherent with the FIA’s proclaimed policy to reduce costs.”
(India/Rubber Asia) JK Tyre chief RP Singhania recently announced that his company plans to increase annual production of truck and bus radials to 1.5 million units by 2010. At the same time Mr Singhania spoke of his confidence that India’s road infrastructure “is getting better now.”
JK Tyre told local media that the company plans to invest 600 million rupees in alternate years in its Mysore (South India) plant to increase the capacity from its current annual capacity of 370,000. JK currently holds an 85 per cent market share in the radial tyre segment.
Maha UK Ltd has achieved the Top Sales Award at this year’s annual meeting of dealers and subsidiaries of MAHA Germany, held in Paris on 15 October. This is the third occasion that MAHA UK has won the award. Kevin Howard, sales director of MAHA UK Limited, accepted the award, which was presented to him by Manfred Ziegler, managing director of MAHA Germany.
Commenting on the award, Kevin Howard said: “With UK sales approaching £5 million for 2005, UK customers are really showing that they are prepared to pay that little extra for quality and service. We are growing stronger in the UK all the time because we remain focused on our commitment of providing top quality equipment with excellent after sales service. Truck brake testers account for 50 per cent of our sales; this is a great testimonial for this product. We are now making great progress with the complete outfitting of new workshops, particularly with main car dealerships. We were also the first manufacturer to get approval for the new Automatic Test Lanes (ATL) for MOT which we have already begun to install. MAHA UK has a great future and we look forward to remaining the top sales outlet for the MAHA Group”.