RMA: US Tyre Shipments to Decrease
(Akron/Tire Review) US tyre shipments this year are expected to decrease by 2.8 per cent compared to 2005, reflecting an overall slowdown in the US economy, according to the Rubber Manufacturers Association (RMA). While GDP growth was 5.6 per cent in the first quarter, second-quarter growth slowed substantially to 2.5 per cent, said the RMA. “Slower growth and higher energy costs appear to be forcing consumers to prioritise spending including postponing tyre replacement,” the organization said.
Continue ReadingNokian Sales Grow 18.3 per cent, pre-tax profits down 10.8 per cent
Nokian’s net sales grew to 349.4 million euros (18.3 per cent) in the first half of 2006. During the same period operating profit amounted to 48.6 million euros (2005: 46.1 million), up 5.4 per cent. However profits before tax fell 10.8 per cent to 42 million euros in the period. Nokian Renkaat shares soared 18 per cent higher in response to the news.
Continue ReadingAmtel-Vredestein to Acquires Russian Tyre and Auto Part Distributors
Amtel-Vredestein’s (AV) AV-TO retail subsidiary has announced that it is to buy Nizhny Novgorod-based motorfactor, Pigma, and tyre distributor Megashina. With over 10 years in the market, LLC Trade House Pigma (Pigma), is reportedly a dynamic company that sells more than 27,000 auto components from approximately 40 producers to over 1500 customers throughout Russia and CIS. Pigma also built a network of seven tyre service retail centres in Nizhny Novgorod – which it sold to Amtel-Vredestein in March 2006.
Continue ReadingApollo Tyres Ltd signs MoU with Tamil Nadu Government
Onkar S Kanwar, chairman and managing director of Apollo Tyres Ltd, today signed a Memorandum of Understanding with the Tamil Nadu government to acquire 135 acres of land, in the Oragadam Industrial Park, 11 kilometres from Sriperumbudur, Tamil Nadu. The company says that it plans to build a radial tyre production facility. The factory will initially produce 75 tonnes of tyres per day, rising to 250 tonnes or more over time, according to the company.
Continue ReadingTyres on the Information Superhighway
The way Tyres & Accessories sees it, even virtual motorways need tyres. However not every business that could is taking advantage of the potential opportunities available online. In the course of the year T&A has detected a fair amount of scepticism about the real benefits of this kind of business, relative to the supposed costs and threats. That’s why next month’s magazine will feature practical advice on how to make the most of the virtual world, filling you in on the latest news from this segment.
Continue ReadingWe’ve Got the Power
Hybrid engines and fuel cell technology are gaining in popularity, but for the foreseeable future at least, all cars will need batteries. And that means a potential profit opportunity for tyre retailers. Having said that, battery manufacturers have been put under intense price pressure in recent months as they have watched the cost of key raw materials (such as lead) skyrocket. Interviewing key market players and analysing recent developments, August’s T&A will bring you the latest information from this additional profit area.
Continue ReadingTruck Fleet is Newest TRIB Member
APL Ltd., a trucking company based in Oakland, has joined the Tire Retread Information Bureau (TRIB). We are very pleased to have APL Ltd. in the TRIB family under our new category recently created for trucking companies, said Harvey Brodsky, TRIBs managing director.
Continue ReadingConti Adds Sizes to General Exclaim Line
(Akron/Tire Review) Continental Tire North America has broadened its General Exclaim UHP ultra high performance tyre line with additional sizes. The line extension includes sizes 195/50R15 82V, 205/50R15 86V, 195/55R15 85V, 205/50R16 86V, 205/55R16 91V, 215/55R16 93W, 275/40R18 99W, 245/35R20 95W and 245/40R20 99W. Two additional sizes, the 225/50R16 92W and 275/40R17 98W will be available in October, the company said.
Continue ReadingBridgestone Americas Closing Tyre Plant in Chile
(Akron/Tire Review) Bridgestone Americas Holding’s Bridgestone/Firestone Chile S.A. (BFC) unit said it is closing its Coquimbo, Chile, plant at year’s end. The company said that because of “intense competition from low-cost producers, the plant is not globally competitive and is projected to begin losing significant amounts of money with no viable strategy to reverse the losses.” The plant produces mass market and bias ply tyres and bias tyres.
Continue ReadingSRI Breaks Ground of Thailand Factory
Construction work for Sumitomo Rubber (Thailand) Co., Ltd.’s Thailand factory officially got underway following a groundbreaking ceremony on 1 August. Approximately fifty people including government officials, police representatives and other guests as well as Thai president Tetsuharu Mino attended the ceremony. The factory is due to start production early in 2007. It will produce high quality tyres under a new efficient production system named Taiyo. Capacity is expected to reach 8,000 units per day by the end of 2007. SRI told local news sources that it is aiming for a 10 per cent market share in the ASEAN nations in the coming years.
Continue ReadingConti Has 3 Billion Euros to Invest, CFO Says
(Akron/Tire Review) Continental AG’s chief financial officer claimed yesterday that the German tyre and auto system maker has at least 3 billion euros in a war chest to finance future acquisitions. Company CFO Alan Hippe, who is also president of Continental Tire North America, made the remarks in an interview with Handelsblatt newspaper.
Continue ReadingSumitomo Opens Moscow Office
Sumitomo Rubber established Moscow Office in Russia’s capital in April to support tyre sales activities in the country. The Russian economy is projected to grow further after it became a WTO member and the automobile market is already rapidly expanding. The Moscow office will support market survey and other sales activities in Russia, according to a company statement.
Continue ReadingHoyer Group Sign European Tyre Contract with Michelin
Bulk transport logistics specialist Hoyer is in the process of switching its tyre procurement to Michelin contracts in a number of major European countries, following the success of its Michelin-fitment policy in the UK. Hoyer UK Ltd has been fitting Michelin tyres across its 1,200-strong tanker fleet since 1997, managed through ATS Euromaster. The success of this arrangement has seen the adoption of a ‘pence per kilometre’ (PPK) contract in the Republic of Ireland, supported by Haughton & Son Tyres Ltd. It has also seen similar contracts set-up for Hoyer Group fleets in Belgium, Finland, Germany, Holland and Luxembourg.
Continue ReadingButton Wins First Grand Prix
Jenson Button scored his first Formula One victory last weekend in what Michelin called a “topsy-turvy Hungarian Grand Prix.” Michelin’s partners dominated the early stages of the rain-affected race and Button swept to the front of the field on lap 52, when world championship leader Fernando Alonso stopped with a rear wheel problem.
Continue ReadingMotorcyclist Magazine selects Dunlop Qualifier as Best New Product
Motorcyclist, the US-based magazine for motorbike enthusiasts, has announced that the Dunlop Qualifier, Dunlops latest motorcycle tyre designed specifically for supersport and hypersport motorcycles, has been named the Best New Product of 2006. “When we first sampled Dunlops excellent new Qualifier sport radials late last year, we figured we might have our Best New Product nailed down early,” said Mitch Boehm, Motorcyclist editor.
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