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For the first quarter of 2012, Bridgestone has reported net sales of ¥726.2 billion (£5.6 billion), a three per cent increase over the first quarter of fiscal 2011. The company’s operating income amounted to ¥63.0 billon (£490.0 million), an increase of 13 per cent, ordinary income was ¥61.7 billion (£479.9 million), an increase of ten per cent, and net income was ¥42.2 billion (£328.2 million), a year-on-year increase of 35 per cent.
Bavarian off-road specialist delta4x4 technicians were “taken aback” recently when asked to fit a large set of wheels to a Yeti. No they hadn’t discovered an immobile abominable snowman. Instead young woman customer was requesting the biggest possible wheels for her Skoda Yeti. However, while there were no actual mythical creatures involved, there does seem to have been a hint of the green-eyed monster. Apparently her motivation was to outdo her husband who drives an Audi Q7 with 20 inch wheels.
Nokian’s recently reported first quarter 2012 financial numbers were 9 per cent ahead of consensus when it came to pre-tax profits (EBIT). In addition the Finnish firm’s revenue result during the same period was 5 per cent higher that average of market analysts expectations. According to analysts at Morgan Stanley, Nokian’s margin was also 100 basis points better than expected at 27.3 per cent. In fact the only cloud on the horizon was said to be net debt which was weaker than estimates perhaps because of high working capital.
England's motorway network is not safe enough to have the speed limit raised to 80mph, according to Unfit for 80, a new report from the Road Safety Foundation.
Poorly-maintained and inadequate roadside protection and the rapidly rising risk of shunt crashes from the sheer volume of traffic using England's motorways are key factors of safety concern in the report, which is published while the Government continues to consider a review of the motorway speed limit.
Selby Magistrates Court has doled out a 12 month prison sentence to Paul Ketteridge from Leeds for the illegal dumping of thousands of tyres at a Yorkshire airfield and other locations. Ketteridge admitted to two waste offences in relation to Tockwith Airfield, and was found guilty after a trial on a charge relating to fly tipping at Goodmanham near Market Weighton. He also admitted three further waste offences in relation to thousands of tyres dumped in Bramham. At the same hearing, Eco Terra Tyres Ltd of Dringthorpe also admitted four waste charges relating to tyres at Tockwith airfield, and was fined £400 in total. The magistrates accepted the company had no assets.
Nokian Tyres president and CEO Kim Gran says the Finnish tyre maker got off to a “flying start” in 2012 and made clear improvements in both production and sales. In a stock exchange release dated 9 May, Gran shared that “sales improved in all our markets with growth in Russia again outshining other areas. Productivity gains, a tight ship and an improved ASP guaranteed a good financial result.”
Cooper Tire & Rubber has announced a quarterly dividend of 10.5 cents per share on its common stock, payable 29 June 2012, to stockholders of record at the close of business on 1 June 2012. This is the 161st consecutive quarterly dividend paid by the tyre maker.
The Pirelli Grand Prix Challenge, which first went live in the US in 2011, has now been expanded to the UK market. The tyre maker has high expectations for the online Formula One prediction game – last year, the American GP Challenge website received 140,000 unique visits and had over 700,000 page views. Prizes to be won through the challenge include a trip to the 2013 United States Grand Prix in Austin, Texas.
In addition to soon to be announced plans for a new factory in Central/Eastern Europe, Apollo Tyres has voiced interest in establishing a plant somewhere in Asia. On 11 May, the Hindu Business Line quoted Apollo vice-chairman and managing director Neeraj Kanwar as saying “we would like to set up a production base in Asean.”
Bridgestone Americas Tire Operations has appointed Mitch Burke plant manager at its Warren County, Tennessee truck and bus tyre factory. Burke has been with Bridgestone Americas since 1989, starting his career as a junior engineer at the Warren County plant. Subsequently, he served in numerous engineering and management roles of increasing responsibility, including positions as quality coordinator, section manager, operations manager, area business manager, division manager of Truck Bus Radial Technical Services, and, most recently, division manager, Operations.
Retail franchise operation point S has confirmed an agreement with Unity Tyre Trading, a group of 11 independent tyre dealers in South Africa. The company announced that it was pursuing international development opportunities outside Europe at Las Vegas’ SEMA show in November, and its launch in the new African territory has confirmed point S’s ambitions in this direction. Point S also strengthened its Central European operations, by signing an agreement with the Slovenian firm, Span.
While financial analysts described the results as “a big beat”, on the day the news was announced Pirelli’s share price fell 10 per cent. Pirelli pre-tax profitability was said to have been better than consensus of analysts’ estimates, mostly due to better price/mix and cost control. Market watchers also welcomed the fact that margins are at record levels.
Pirelli & C. SpA has announced first quarter revenues of 1.556.5 billion euros, up 11.1 per cent compared with 1,400.9 million euros in 31 March 2011. Pre-tax profits (EBIT) after restructuring charges grew by almost half to 209.4 million euros (up 46.1 per cent compared with 143.3 million in the first quarter 2011).
Dunlop Motorsport at Birmingham’s Fort Dunlop is described as one of the best design centres in the business, with the flexibility to produce prototypes in days and manufacture short runs of tyres specifically for the various circuits visited by the tyre supplier every year. Goodyear Dunlop has recently made two new appointments at the facility; Vincent Van Goor moves from the Luxembourg-based Innovation Centre to take up the role of senior design engineer for car, while John Astbury makes a shorter hop from Wolverhampton to his new role as QTech Manager UK.
Treasury & Risk magazine's 2012 list of "30 Outstanding Women in Finance" includes Laura K. Thompson, vice president, finance for The Goodyear Tire & Rubber Company's North American Tire business. Thompson directs finance for the company's largest business unit, with annual sales of nearly $10 billion. She previously served as vice president of business development, is also the executive in charge of developing Goodyear's new headquarters in Akron, Ohio.
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