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Inovex, the maker of Ride-On Tire Sealants for truck, bus, motorbike, military and private vehicles was recently chosen to participate in the Commonwealth of Virginia’s AIM export Program. In addition to valuable capital funding, market research and strategic counselling, the AIM programme gives Virginia companies the opportunity to leverage private-sector professional service providers and VEDP-developed relationships around the world.
Over 50 firefighters battled a large tyre fire near Matchams raceway site, Hampshire on Wednesday 20 September. The fire, according to reports, affected 100 tonnes of tyres. A spokesman said: “We have not yet fully investigated the incident but cannot rule out the possibility of this being an arson attack.”
(Akron/Tire Review) Mitsubishi Motors has selected Yokohama as the OE tyre for its 2007 Mitsubishi Outlander compact SUV. Yokohama will supply tyres to Mitsubishi in size P215/70R16 99H. With the addition of the Outlander fitment, Yokohama said it is now OE on a wide range of 2007 vehicles, including the Bentley Continental GT and Continental Flying Spur, Audi S8, the Lotus Elise and Exige, Porsche 911 Carrera 4, Lexus GS300 and GS430, Mazda MX-5, Suzuki Grand Vitara, Toyota RAV4, Suzuki SX4 and Subaru Legacy and Forester.
Hayes Lemmerz has announced that Cynthia Feldmann has been appointed to the Company’s board of directors. With the addition of Ms. Feldmann, the Board now consists of seven members. Ms. Feldmann has also been appointed as the Chairperson of the Audit Committee and a member of the Nominating and Corporate Governance Committee.
A new website (green-car-guide.com) designed to give drivers green motoring information includes advice on tyres. In addition to the usual suggestions of driving in the correct gear and warnings that 4×4 are not the most fuel efficient, a 17-page report on the site also advises motorists to keep an eye on their tyre pressure and condition. Interestingly the report also promotes the use of so-called eco tyres such as the ContiEcoContact and the Michelin Energy products.
(Akron/Tire Review – Asiaport) China’s automobile output in 2006 will exceed 7 million cars, making a big leap from 5.7 million cars in 2005, forecasted by Zhang Xiaoyu, the deputy head of China Machinery Industry Federation, and chairman of the Society of Automotive Engineers of China. China’s automobile industry has become an integral part of the national economy after rapidly growing in the first five years of the new century. In 2005, the whole industry generated output value of approximately $151 billion and contributed near $25 billion taxes directly and indirectly, as well as providing 17 million jobs.
(Akron/Tire Review) Nexen Tire opened a branch office in Shanghai, China, earlier this month, which company officials said will spur its penetration in the Chinese tyre market. The new office will join a tyre plant Nexen is constructing in Qingdao, Shantung, which broke ground last May. The new plant will cover some 5.7 million square feet – among the largest in China – and have a final capacity of 20 million per year, Nexen said.
Kings Lynn, Norfolk-based Tym International has renewed its relations with large scale Chinese tyre manufacturer, Triangle. Tym is the only UK company to sign a three-year agreement for 2007, 2008 and 2009, Tym International’s Steve Eke told Tyres and Accessories. “We at TYM International are continually impressed with the level of commitment Triangle has. With that and the depth of knowledge they have on their products, it is no surprise that the company, indeed the whole of the Chinese economy, is thriving the way it is,” he commented. Triangle recently invited Tym to view its new factory in China, which is set to increase supply to the UK.
Yokohama was involved in yet another world record recently, when it supplied tyres for ‘Flat Out’, the lowest car in the world. The Fiat 500 was built by custom specialist Andy Saunders over the weekend of the recent Beaulieu Autojumble, starting as a standard car and ending up with an overall height of just 213/8in (543mm) from the ground.
Bridgestone Corporation has climbed to number 245 in the Fortune Global 500 in 2006, increasing its lead over Goodyear Tire & Rubber at number 327 and Michelin at number 335. The ranking, which measures the world’s biggest 500 companies in terms of revenue, shows that while Bridgestone moved up 5 places versus 2005, Goodyear gained only three and Michelin slipped back 41 places. In the motor vehicles and parts industry, Bridgestone comes in at number 19, ahead of vehicle manufacturers such as Suzuki, Mitsubishi and MAN.
In a move that will likely help efforts to avoid the effects of a “Super Complaint” in the automotive service market, Automotive Distributors Limited (ADL) has announced its full support of BSI Product Services’ Kitemark scheme and is actively encouraging garages to embrace the PAS80 standard. More than 180 installers have already applied to Kitemark scheme through ADL.
Although it is a lengthy process, there are currently 30 Kitemark garages, with another 20 achieving the standard imminently. In addition to this, there are currently 500 applications/enquiries being processed. This is a vast improvement on the 11 that held the Kitemark in July.
Yokohama Rubber Co., Ltd., is offering an extended casing warranty on Bandag retreads. Dusseldorf-based Yokohama Europe GmbH, and Brussels-based Bandag NV will undertake the warranty programme as part of a marketing collaboration arrangement between the two companies. A brochure released by the two companies summed up the arrangement like this: “Yokohama has extended the casing warranty of its truck and bus tyres to run for their total lifecycle: First life as a premium Yokohama tyre; Second life as a valuable Bandag retreaded Yokohama tyre.”
Radik Ilyasov, CEO of Nizhnekamskshina, Russia’s largest tyre manufacturer, has announced plans to increase the supply of Kama Euro radial tyres to AvtoVAZ. According to a Centre Invest analyst report, Nizhnekamskshina has signed a contract with the automaker to supply all tyres for Chevrolet-Niva production, up from the 47 per cent agreed upon previously. “We believe this is good news for Nizhnekamskshina, which should now be able to gain a wider market share. Research has shown that Russian car owners tend to replace tyres with the factory-installed brand,” the report commented.
(Akron/Tire Review) In a move that appears to target the onslaught of overseas investment, China’s Ministry of Commerce implemented new rules earlier this month that increase government regulation of foreign companies’ mergers with and acquisitions of domestic Chinese businesses. The rules expand on previous provisions issued in 2003. The new regulations require regulatory approval whenever a proposed transaction involve a foreign company that has more than 3 billion yuan (approximately $376 million) in assets, more than 1.5 billion yuan ($188 million) in revenue within China, or a 20 per cent or larger share of the domestic market; give foreign investors more than a 25 per cent share of the Chinese market; involve a foreign company that has concluded more than 10 deals over the preceding year in related industries; result in a foreign company’s control of a famous Chinese brand or trademark; or otherwise affect ‘national economic security,’ a term that the regulation leaves undefined.
(Akron/Tire Review) Aston Martin has selected the Bridgestone Potenza RE050A for OE position on its new V8 Vantage. The tyre, which has also been fitted on Aston Martin’s DB9, will be available in two sizes for the Aston Martin V8 Vantage – 235/45R18 (front) and 275/40R18 (rear) and 235/40R19 (front) and 275/35R19 (rear).
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