Bridgestone Launches Dubai HQ
The Bridgestone Corporation has established a strategic business unit (SBU) HQ in Dubai to cover its tyre business in the Mena region; it has also set up an SBU in Singapore for the Asia-Pacific region. Both offices are set to begin operations on 1 October. Bridgestone says it has set up the SBUs with the objective of speeding up decision-making and action and in order to optimise regional strategy.
Continue ReadingLear Corp and Transense Cooperate
Automotive supplier Lear Corp. has signed an agreement with Transense Technologies PLC to develop a tyre pressure monitoring system (TPMS) that does not require batteries and will comply with US federal regulations. Financial terms have not been disclosed.
Continue ReadingNew Recruit at Cam Systems
Cam Systems has appointed the former IT and marketing manager of Broadway Tyres as part of an ongoing drive to build its account management team. PJ Aass worked closely with Cam during the two and a half years he managed the IT side of Broadway Tyres’ business. After leaving the wholesaler to complete an eight-month contract in Norway, PJ returned to the UK and the tyre industry after accepting an offer to join Cam Systems.
Continue ReadingMichelin Motorbike Price Increase
Following a meeting with Olivier Gros, Michelin’s new head of two wheel tyres in UK, Bike Tyrestore is reminding dealers that there is less than a week left to place orders prior to Michelin price increase on 1 October. The French manufacturer’s two-wheel price increase will add 3.5 per cent to product prices. Wholesale representatives report that the Pilot Road and Pilot-Power are selling quickly as a result of buyers trying to beat the increase.
Continue ReadingNatural Rubber Reaches New Low
After reaching record levels earlier in the year, natural rubber prices have now fallen to more comfortable levels for tyre manufacturers. On Friday 22 September the price of natural rubber dropped to $1.7, almost 40 per cent less than the peak reached three months ago.
Continue ReadingRenault to Offer Goodyear Duraseal Technology
Renault Trucks is Europe’s first truck maker to offer Goodyear Duraseal Technology. Customers ordering vehicles from the brand-new Renault Kerax construction range launched at the IAA Truck Show in Hanover, will have the choice of Goodyear Omnitrac mixed service tyres featuring Duraseal Technology. According to Goodyear, this means less downtime and reduced tyre costs.
Continue ReadingNokian “On the Road Again”
Following positive second quarter reports Nokian Tyres is back “on the road again,” according to Deutsche Bank analysts. “Going forward we are seeing an improved mix driven by new products (Hakkapeliitta 5), less Nordic competition due to fast growth in the German winter tyre market, continued strong growth in Russia and raw material prices contracting clearly from recent peak levels,” said the analysts. The Deutsche Bank market watchers said they are pojecting more than 20 per cent earnings per share growth in 2006 and 2007.
Continue ReadingHedge Fund Buys into Cooper Tire & Rubber
On 18 September Trafelet & Company, disclosed that it now holds 5.756 million shares in Cooper Tire & Rubber - a 9.4 per cent stake. Trafelet is now Cooper Tire & Rubbers fourth-largest shareholder behind value investors Shapiro Capital Management (11.4 per cent), Brandes Investment Partners (11.4 per cent) and Perkins, Wolf, McDonnell & Company (10 per cent).
Continue ReadingVan Essche Leaves Bandag NV
After 10 years as part of the Bandag organisation, director of marketing for Europe, Danny Van Essche, has left the company. He was also part of the company’s European Leadership Team. Van Essche expressed thanks to his colleagues and partners in the last decades and pointed to the “many successful initiatives realised by Bandag to support the retreading industry in Europe.”
Continue ReadingAutomotive Hall of Fame to Recognize Bridgestone Founder
(Akron/Tire Review) Bridgestone Corp. founder Shojiro Ishibashi will be among seven individuals that will be inducted into the Automotive Hall of Fame on Tuesday, 3 October in Dearborn, Michigan. Ishibashi joins Nuccio Bertone, Dale Earnhardt, Bill France Jr., Wayne Huizenga, Arjay Miller and Bruno Sacco in the hall’s class of 2006. Ishibashi is credited with leading Japan’s tyre industry, and created his country’s first locally developed tyres in 1930. He established Bridgestone Tire Co. in 1931, served as its president and chairman until he retired, and remained active in the company until his death in 1976.
Continue ReadingJana Partners Purchase Titan Shares
Jana Partners purchased 218,400 shares of Titan International at an average price of $16.90 on 18/19 September, increasing their holdings in the company to approximately 4.499 million shares or a 25.4 per cent stake. According to indiescore.com, the purchase was the first for Jana since the firm “took down” 112,000 shares at an average price of $18.73 on 5/6 June.
Continue ReadingCoker Tire Rolls Out 65 Series Silvertown
(Akron/Tire Review) Coker Tire has introduced a newly developed 65 Series BFGoodrich Silvertown whitewall radial. The tyre features a wider, lower profile than the current 70 Series Whitewall radials, Coker said. Constructed with all of the safety and performance aspects modern radial tyre technology affords, Coker said, the new BFGoodrich Silvertown 65 Series Whitewall radials are S-speed rated and carry a 540 BB UTQG rating.
Continue ReadingMultimillion Dirham Complex Opens in Dubai
Al Saeedi Group, a leading Dubai-based tyre distributor, has opened a new corporate, service and warehousing complex in the countrys Jebel Ali Free Zone (JAFZ). The 100,000 square feet facility, was inaugurated by Jamal Majid bin Thaniah, Group Chief Executive Officer, Ports & Free Zone World in the presence of Y.K. Sinha, Consul-General of India, along with local dignitaries and executives representing worlds leading tyre brands.
Continue ReadingSibur Prepares for Russian Winter
Sibur-Russian Tyres has added a number of new sizes to its winter tyre range up to 16 inches in diameter. “Nowadays in Russia there is an increasing demand for 14 and 15-inch sizes. These tyres are for cars in the price segment from $12,000 to $20,000. These are imported brands assembled in Russia and some imported models like Mitsubishi Lancer or Nissan Almera. If the vehicle parc changes, the structure of demand for tyres will change too. We are happy to offer our customers our new Cordiant Polar tyre in 175/65R14, 175/70R14, 185/65R14 sizes and also the 15 inch and the two 16 inch sizes,” informed Anna Komarova, the head of passenger car tyres division of Sibur-Russian Tyres.
Continue ReadingNew TSW Alloy Wheels for the UK Market
The UK distributor of TSW wheels, Yokohama HPT, has announced the launch of five new designs which have now been introduced into the UK market. The wheels all offer TSW’s trademark quality and style and – according to the company - any car owner looking to individualise their vehicle will find something to their taste and style in the TSW range. First up is the Holsten, an almost-full face wheel with seriously European undertones. It features a centre-cap to conceal the mounting nuts, giving uninterrupted lines. The Holsten is available in sizes from 9x18 to 10x22 and in silver or chrome finishes.
Continue Reading