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The Garage Equipment Association has reported that this year’s annual dinner was once again a success, with ticket sales continuing right up to the eleventh hour. The association’s new chief executive, Dave Garratt, welcomed guests. Mr Garratt’s predecessor, John Nelson, who unfortunately could not attend the dinner delivered a message via video, having been presented with a silver platter by Nevelle Marchant in honour of his service to the association.
US replacement tyre shipments rose one per cent in March, Deutsche Bank analysts have reported. According to the report, this number is seen as relatively strong in the context of the seven per cent year on year increase experienced in February. The analysts predict a 2 – 3 per cent increase for the quarter.
Stapletons Tyre Services has appointed Taro Ikeba to the position of chief financial officer to join its expanding operation. Mr Ikeba joined Stapletons recently from his previous position at Itochu Finance Europe plc in London, where he was head of corporate finance. He will report to Stapletons’ chief operations officer Alan Denton, and his core responsibilities will include managing the company’s overall financial strategy.
Michelin is likely to embark on a major restructuring programme in the coming years. The news follows a meeting between Deutsche Bank analysts and Michelin. The fact that 24,000 people will be retired in the next five years (17,000 in Western Europe or 31 per cent of the workforce and 7,000 in North America or 33 per cent of the workforce) is said to allow for higher productivity gains and transfer of production to low cost countries.
Analysts have predicted that Michelin’s first half operating profit could match last year. They added that a three or four per cent fall in volume should be offset by the effects of a strong price/mix effect of plus four or five per cent. The Deutsche Bank report states that the analysts expect first half operating profits to be 50 million euros higher than the consensus of 700 million or 9.3 per cent of margin. This translates into an earnings per share estimate of 5.5 euros for 2005 earnings and 6.5 euros for 2006 earnings, against a consensus of five and six euros respectively.
Pirelli tyres have been chosen as original equipment on the BMW M6, the German manufacturer’s new Luxury Sports Coupé, presented this week to the international press, exclusively shod with the ultra-high-performance P Zero Corsa System.
Joint Stock Company Sibur reduced tyre production by 3.02 million units compared with 4.053 million units for the same period a year ago. The Russian Analytical Information Agency has reported that, in particular, Voltire cut tyre production to 585,000 units from 701,000 in 2004; Omskshina decreased output to 732,000 tyres from 1.425 million the year before and Yaroslavsky Tire Works cut production to 1.244 million from 1.493 million. At the same time Uralshina Ltd improved tyre output to 459,000 from 433,000 units. In total 3.121 million tyres are reported to have been shipped, a decrease of 586,000 tyres compared with the same period a year ago.
Dunlop is launching a search for Britain’s Ultimate Biker; a top motorcyclist capable of mastering a range of disciplines, displaying peak physical endurance and psychological readiness.
ATS Euromaster has lunched an on-line authorisation service for commercial vehicle fleet operators.
In the past, authorisation for work required, has been carried out over the phone, sometimes causing delays or carrying the risk of possible disputes later on. The new system, which is being piloted at the moment and will be available to all ATS Euromaster account holders, will eliminate these potential problems.
National BEN Week raised over £18,000 for our less fortunate colleagues last year, thanks to the ‘£99 for 99 years’ campaign that the charity adopted. Hundreds of industry members took part by holding their own fundraising activities ranging from raffles and dress down days to cycle rides and other sponsored events. This year, to celebrate a century of care and support for the automotive and related industries, BEN will be bringing back the campaign but re branding it as ‘£100 for 100 years’ for National BEN Week, which runs from 18-24th July (inclusive of BEN’s actual birthday, 19th July).
BEN wants even more industry members to get behind the campaign this year and raise a minimum of £100, either by holding a fundraising event or simply by sending in a donation, so that we can reach our target of £100,000 for BEN’s 100th birthday. However, as fundraising can be quite daunting, BEN has put together a fundraising pack, a comprehensive guide to planning and putting on events, sponsored activities and other fundraisers. Included in the pack are items such as the A-Z of fundraising, which is full of interesting ways to raise money, legal information and even posters and press release templates.
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(Akron/Tire Review) The US International Trade Commission voted 4-2 yesterday to retain tariffs on steel imports, saying that removing the duties would further hurt the struggling US steel industry. The tariffs specifically cover steel from Japan, Brazil and Russia. Duties on flat-rolled steel range from 20 per cent to 50 per cent, and were imposed about five years ago.
(Akron/Tire Review) Kumho Tire USA has expanded its 2005 motorsport efforts, making its first appearance in professional drifting competition. Florida-based Enjuku Racing will compete on Kumho Ecsta MX tyres in Formula Drift, World Drift Challenge and D1 Grand Prix events. The team made its debut at a Formula Drift event in New Jersey on 16 April.
(Akron/Tire Review) Falken Tire Corp has announced its 2005 contingency programme for Formula Drift series. Falken has put together a Team Falken “works” team, but is offering payouts to works or private teams using its tyres in Formula Drift competition.
“Tyres are by far the most costly recurring expense in drifting,” said Nick Fousekis, Falken’s performance marketing manager. “We want to help drivers – and especially the privateer teams that earn their way to the winner’s circle on Falken tyres.” In the contingency programme, event winners on Falken tyres take home $2,000, while a series champion will win $5,000. Falken will pay through eighth place finishes per event, and first through third for the series.
Michelin has expanded its range of supermoto tyres with the introduction of four new tyres: a soft front, a medium/hard rear, and front and rear wets. These are in addition to the existing medium/soft front and medium rear.
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