Yokohama Rubber’s New Belgian Sales Company
Yokohama Rubber Co. established N.V. Yokohama Belgium S.A. in Antwerp to reinforce passenger car tyre marketing in that nation and Luxembourg.
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Yokohama Rubber Co. established N.V. Yokohama Belgium S.A. in Antwerp to reinforce passenger car tyre marketing in that nation and Luxembourg.
Another 84 jobs have been cut at Wolverhampton in the farm tyre division. This follows a denial that the transfer of agricultural tyre production to an off-take had any impact on Goodyear’s Wolverhampton agricultural tyre production. Six years ago the plant had around 3,000 staff, but the figure is now down to 600 and part of the site has been sold for commercial development. A spokesperson for Goodyear Dunlop said that Wolverhampton was still not as cost-effective as the group’s European average.
Saba Tire Cord Manufacturing Complex of Iran has established a nylon tyre cord production facility about 15 km north east of Zanjan, Iran. The operation, which started up in April last year, is the largest such facility in the Middle East region, the company claims. Saba’s 600-employee facility has an annual production capacity of 15,000 tonnes of different tyre cord fabrics. Saba is owned by Rubber Industries Investment & Development Co., an Iranian holding company.
Greenpeace is calling on the New South Wales Government to reject a proposal by Blue Circle Cement to use alternative fuels such as tyres and oils in its New Berrima plant. The cement company says the fuels will benefit the environment by reducing land-fill and emissions. However, Greenpeace spokesman Jason Collins says Blue Circle’s own environmental study has shown the dioxin emission levels will triple.
Rising real income in booming economies like China and Thailand are driving sales of automobiles there, Singapore companies YHI International and Stamford Tyres are poised to ride the strong tide of demand.
The Nokian Group’s net sales and operating profit increased in Q4 with all profit centres improving their results. Net sales grew by 10.3 per cent, to 528.7 million Euro (2002: 479.2 million Euro). Operating profit was 79.1 million Euro ( 60.1 million Euro). EPS were up to 4.48 Euro ( 3.17 Euro). The Board of Directors propose a dividend equalling 35 per cent of the net profit, that is 1.56 Euro ( 1.11 Euro) per share, to be distributed.
TBC Corporation, one of the USA’s leading marketers of automotive replacement tyres, has reported record sales and earnings for the fourth quarter and year ended December 31, 2003.
Yokohama Rubber Ltd. plans to invest 5.8 billion yen on a new truck and bus radial tyre factory in Thailand according to Hisakuni Yamashita, president of Yokohama Tyre Manufacturing (Thailand). The Thai unit was set up in January and will commence production in April 2005, with initial annual capacity of 315,000 tires and a final target of 600,000 tires in the second phase. Japan’s Yokohama Rubber owns 95 per cent of the Thai unit while the remaining 5 per cent is owned by T Siam Commercial Ltd., the Yokohama tyre distributor in Thailand.
The Goodyear Tire & Rubber Company has announced its intention to commence a private offering of approximately 650 million US dollar aggregate principal amount of senior secured notes. The final principal amount and note maturities will be determined by market conditions. The senior notes are expected to be secured by junior liens on certain of the collateral securing the company’s senior secured US credit facilities. Goodyear intends to use the proceeds from the offering to prepay its US term loan facility, to reduce a portion of the commitments under its US revolving credit facility, to repay other indebtedness of the company, including temporary reductions of outstanding balances under its revolving lines of credit, and for general corporate purposes.
The Agribex 2004 panel has awarded a Golden Ear to Michelin for XeoBib, a new tire concept that optimizes driving in fields and on the road, thanks to the ability to roll at constant pressure. The Golden Ear is awarded for innovations, with emphasis on practicability as well as engineering excellence.
Honeywell has announced that it will double its dimensionally stable polyester production in Kaiping, China, to meet growing demand for its products and services in the Asian marketplace. The added capacity will produce the latest generations of Honeywell’s DSP® fibres for tyre reinforcement and other end uses. “This is another example of our commitment to the global tyre industry and our customers worldwide,” said Greg Rogowski, General Manager, Performance Fibers. “As the only polyester fibre supplier with manufacturing facilities in Asia, Europe and North America, we continue to make investments in technology to meet the needs of our customers, wherever they are located.” The plant expansion is expected to be complete by late 2004.
Hankook Tire is expecting to see a 19 per cent growth in operating profit, giving a 14 per cent increase in net profit in 2004. Last year the company‘s conservative estimates were exceeded by 70 and 44 per cent respectively.
A fire that started early Wednesday at a tire factory owned by Goodyear (Thailand) PCL damaged a raw material warehouse, but other operations weren’t affected, a policeman told Dow Jones Newswires.
Bekaert has officially inaugurated its first steel cord plant Bekaert Industries Pvt Ltd in Pune (India).
Amerityre Corporation has been submitting prototype polyurethane car tyres to an independent lab for testing to determine if the tyres comply with Federal Motor Vehicle Safety Standard No. 109, applicable to new pneumatic tires.
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