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Quicksilver has launched a stainless steel exhaust system specially designed for the new Land Rover 3 and Discovery 3 V8 petrol and Turbo Disel V6. According to the company, the new products are for “bold confident people who enjoy making a fashion statement,” and provide “a distinguished air of supremacy.”
A survey conducted by the CBI has reported that UK manufacturing firms fear that up to 26,000 jobs could be lost over the next three months. The CBI and Experian poll showed that confidence in the manufacturing industry has fallen in eight of the UK’s 11 regions over the past quarter with the north west hit hard. Despite the sharpest fall in confidence occurring with firms in the West Midlands, London and the South East are expected to bear the largest decline in manufacturing employment. The CBI states that whilst 26,000 jobs is a large figure, it is still short of the losses seen during the steep manufacturing recession of 2001 to 2003. However, the latest data from the Office for National Statistics shows a 0.6 per cent between November and December, its fastest pace in seven months.
Automotive supplier, Beru AG, has reduced its sales growth target, following lower than expected demand. The company now says that sales revenues should rise by at least 10 per cent in the current financial year with EBIT reaching at least 56 million euros. According to the company, an unusually warm winter, lower than expect demand for TPMS and lower sales in the field of diesel technology mean that its original 13 per cent sales goal will be unreachable.
Last year Finnish manufacturer Nokian reported record figures. Now it has done it again. In the last twelve months the group’s turnover increased from 528.7 million euros to 602.2 million in 2004, while operating profit increased from 79.1 million euros to 108.1 million euros. At the same time the Vianor trade group represented about 37 per cent of the total turnover. Almost all of the company’s operating profit came from manufacturing and 80 per cent of this was generated by passenger car sales. Roughly 70 per cent of production is for export in the Nordic countries, Russia, CIS and North America. The management remains convinced that it will be able to outperform these record figures again in 2005.
Continental has commissioned a survey investigating student opinions of universities. It is hoped that the research will give a clearer picture of the opinions of German secondary and university students on social and political questions. The results will be presented by Thomas Sattelberger Continental board member responsible for personnel on 24 February. The research, conducted by TNS/Infratest, was wittily entitled “Reforms and Wissenschaf(f)t” – a pun referring to the word “Wissen schafft“ (meaning knowledge) and “Wissenschaft“ (meaning science).
Toyo Tire and Continental Tire North America have recalled 24 and 50 truck tyres respectively from a “targeted batch.” The announcements follow Yokohama’s decision to recall 69 of its commercial tyres that were produced at the same GTY plant in Mount Vernon Illinois. The total number of recalled products now stands at 143.
Mahle International has increased its share in Izumi Piston Manufacturing Co, (Thailand) Ltd from 34 to 52 per cent. The company will now operate under Mahle Engine Components Thailand Ltd supplying the Thai automotive industry with 1.8 million pistons per year, predominantly for passenger car and commercial diesel engines. The 370 employees at the Bangkok location currently achieve sales of around 13.1 million euros. With 7 locations, Mahle now has a production capacity of 18 million pistons and is one of the largest suppliers in this sector on the most dynamic growth market. The announcement is retrospectively effective from 1 January.
Diversified services group Bidvest has acquired a 17 per cent stake in Tiger Wheels for 239.9 million (£20.65 million), according to a South African Business Report story. Last year, Bidvest acquired McCarthy Motor Holdings and also has an American call option to purchase a further 1.8 million shares by 30 April for 45 million (£3.89 million). If it exercises this option, it will increase its stake in Tiger Wheel to about 20 per cent. Bidvest chairman Brian Joffe will be appointed a non-executive director of Tiger.
In 2004 the value of China’s automotive exports, principally of components, reached $8.156 billion (£4.4 billion). The total equates to an increase of 73 per cent over 2003. China’s automotive components imports rose 13 per cent in a year that saw vehicle production decline in the last months, according to the latest data from the Mechanical and Electrical Department of China’s Ministry of Commerce. China’s trade deficit in automotive products was reduced from the $9.737 billion of 2003 to $8.177 billion last year. Customs statistics showed that in 2004 automotive imports reached $16.333 billion, the Xinhua China Daily reported.
Indian tyre stocks are riding high in expectance of a reduction in replacement tyre excise duty in the country’s forthcoming budget. According to sources quoted in India’s Business Standard, the expectance of a 24 per cent to 16 per cent reduction has led to renewed interest from institutional investors.
Yesterday Ceat shares rose 6.71 per cent to 75.50 rupees, Goodyear India stock went up 3.89 per cent to 70.85 rupees, MRF up 3.61 per cent to 2,733.05 rupees and JK Tyres up 15.41 per cent to close at 86.90 rupees, the magazine reports. The recent share price increase, however, is set against a background of increased raw material costs.
Alcoa’s Hungarian wheel plant won the 2004 National Quality/Excellence Award, the most prestigious business excellence award in Hungary, the company has announced. Alcoa Wheel Products Europe (AWPE) was awarded the national prize by Hungarian Prime Minister Ferenc Gyurcsany during a recent ceremony.
Polyurethane tyre manufacturer, Amerityre, has claimed that its products out perform “comparable rubber compounds” when it comes to heat aging and Ozone resistance. The claim follows testing at an independent laboratory in accordance with ASTM test standards. Amerityre explains that it tested its products for these attributes in anticipation of NHTSA standardised testing, including an “oven-aging test” due to take effect in July 2007.
At the end of this month, the legal tussle between Hans Heiner Buechel and Hayes Lemmerz will progress to the next round. The parties are fighting over exactly how they can bring Mr Buechel’s contract as managing director to an end. Hans Heiner Buechel (53) had worked for the Hayes Lemmerz for 25 years before he became managing director of the European arm of the business, Hayes Lemmerz Holding, only to be replaced by an American successor last year. However, if talk “on the floors” is to be believed, these facts alone do not represent the whole story. In the past the company always seemed able to settle any ‘differences of opinion’ internally, behind closed doors, but now it has become obvious that the parties wish to bring their contentions out in the open. The next chapter of the saga will see a German judge preside over the outcome. And as far as that is concerned, both Hayes Lemmerz and Mr Buechel are in the hands of the gods.
Benecke-Kaliko AG has signed a joint venture agreement with Jiangsu Changshun International Trading Co in order to “expand production capacities considerably.” Approximately 10 million euros will be invested in a production site in the provincial town of Zhangjiagang City, 120 kilometres north west of Shanghai. The factory will produce PVC expanded sheeting and PVC leatherette for the Chinese automotive industry from mid 2006, creating 170 jobs
Team d’Antin MotoGP has announced that it will use Dunlop tyres in 2005. The team will enter Roby Rolfo on a Ducati Desmosedici GP04. The 2005 MotoGP World Championship starts in Jerez on 10 April.
Team owner Luis d’Antin and Roby Rolfo recently visited Dunlop Motorsport’s European R&D headquarters in Birmingham. “We are delighted that Dunlop has decided to support our programme,” confirmed Luis d’Antin “it will be a very interesting challenge for our team to help Dunlop move forward with their MotoGP tyre development.”
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