Mileage falls as fuel costs rise
Nearly 14 million UK motorists have pledged to drive more economically as a direct result of high fuel costs, according to recent research from Green Flag breakdown service, which polled over 2,000 motorists.
Nearly 14 million UK motorists have pledged to drive more economically as a direct result of high fuel costs, according to recent research from Green Flag breakdown service, which polled over 2,000 motorists.
It’s new, it’s improved – it’s the revamped Aeolus Tyres European website. The addition of agricultural tyres to the Aeolus range prompted Netherlands-based wholesaler Heuver Tyrewholesale to thoroughly redesign the aeolus-tyres.eu site; Heuver says the new site is now divided into three product groups and four languages, and features product overviews and brand information. The site has also been optimised for use with smart phones and tablets.
A team from KYB, the supplier of shock absorbers, coil springs and suspension mounting kits, completed the Three Peaks in 24 Hours Challenge, raising the outstanding amount of £2,000 for BEN, the automotive charity.
During 2011, some 4.8 million tonnes of tyres were manufactured in Europe, a figure representing 24 per cent of the global total. Overall tyre production levels within the region were 6.6 per cent higher than in 2010. European replacement market sales totaled 301.7 million units during the year, an increase of 4.41 per cent over 2010 levels; replacement passenger car and light commercial vehicle tyre sales came to 289 million units, up 4.21 per cent, and replacement commercial vehicle tyre sales amounted to 12.6 million units, a 9.1 per cent year-on-year increase.
Further outlets have been added to Michelin Americas Truck Tires’ fleet network following an agreement with TravelCenters of America (TA), operator of the TA and Petro Stopping Centers branded travel centres. The addition of these TA/Petro locations will expand the total number of Michelin X One servicing dealers to nearly 2,000 locations throughout the US.
Goodyear Tire & Rubber’s directors have declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The dividend is payable 1 October 2012 to shareholders of record on 14 September 2012. The payout represents an annual rate of $2.9375 per share.
Continental Tire the Americas announced a major expansion of its US headquarters in Ft. Mill, South Carolina. US industry publication Tire Review shares that the three year old headquarters building will be extended by 16,000 square feet, creating a total area of 91,000 square feet. Along with a larger floorspace, the expansion will bring 80 new jobs to the headquarters over the coming four years.
On 23 August Polish chemical manufacturer Synthos SA informed the Warsaw Stock Exchange it has signed a supply deal with Goodyear Tire & Rubber. The agreement is valid until 31 December 2012 and covers the supply of solution styrene butadiene rubber and emulsion styrene butadiene rubber. The contract is valued at approximately PLN 3.74 billion (£709 million); the price to be paid is based upon a formula that takes into account the market price of raw materials.
In its 2011 Annual Report, Goodyear India Limited shares that it intends to phase out production of cross-ply medium commercial truck tyres and transfer the freed-up capacity to the manufacture of agricultural tyres. “In the farm segment, growing levels of farm mechanisation and subsequent growth in all agriculture related industries should provide your company with attractive growth prospects,” stated the Annual Report, adding that the majority of agricultural products currently sold by Goodyear Indian are cross-ply construction.
Analysts at DB Equity Research opine that the European tyre label will not lead to any material change of market share amongst tyre makers in the coming years. In its 27 August morning news, the Deutsche Bank team explained the workings of the label and added that they consider its introduction a move “in the right direction.” However, the analysts believe the regulation should favour premium tyre companies with a multi-brand strategy, and they noted that "some companies will be tempted to cheat to improve their results.” DB Equity Research also expects that from a range of, say, 500 tyres, every tyre company will succeed in having “at least a few AA rated tyres they will advertise.”
Goodyear Dunlop brand Sava wants to raise its profile with 18 to 34 year old drivers. To help achieve this aim, US comedians Kenny Santucci und Ben Rameaka have been engaged as Sava brand ambassadors. It is hoped the pair will add weight to the newly-launched brand claim that “Sava drivers have more fun.”
In August, some 14 years after its first plant obtained ISO 14001 certification, Yokohama achieved company-wide integrated certification under ISO 14001. The Environmental Management Systems (EMS) certification covers Yokohama Rubber’s nine locations within Japan: the company’s head office and eight domestic production sites (Hiratsuka, Mie, Mishima, Shinshiro, Onomichi, Ibaraki, Nagano and Hiratsuka-East).
Techking Tires reports the launch of a new mixed service pattern it developed based on input from partners in Australia and Latin America. The TKAM C+, 11R22.5 has been designed for mix road service and uses what Techking calls its ‘Noise Buffer’ design which, as the name suggests, is said to reduce noise. It also features a ‘Stone Shy’ design to prevent stone retention, the tyre maker adds.
While work on Kumho Tire’s greenfield project in the US is still on hold, the long wait to restart may soon be over. Georgia-based television station 13WMAZ reports Macon-Bibb County Industrial Authority chairman Clifford Whitby as saying “we are getting very close to be able an announce a date when Kumho will be able to start construction.”
Almost a year ago, MRF chairman K M Mammen told journalists the tyre maker was considering acquiring or leasing a 100,000 hectare rubber plantation in Southeast Asia. Since then, little has been heard on the subject. In recent days, however, Indian newspapers the Hindu Business Line and Business Standard have both quoted MRF executive vice-president of marketing, Koshy Varghese, as saying the company is currently investigating its options.
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