Cooper Increases Sales, But Posts Loss for Half
(Akron/Tire Review) On the same morning that its chairman, president and CEO resigned, Cooper Tire & Rubber Co. released its first half and second quarter 2006 financial results. For the first half, the company posted sales of $1.2 billion, up 19 per cent over the same period last year. But Cooper posted a net loss of $26 million for the half. Second quarter sales of $625 million were up 22 per cent year-to-year, and were driven largely by Cooper’s business in China, the company said. Cooper acquired Cooper Chengshan (Shandong) Passenger Tire Co. and Cooper Chengshan (Shandong) Tire Co. in February.
Continue ReadingTom Dattilo Leaves Cooper
Cooper Tire & Rubber Company chairman, president and CEO, Tom Dattilo has resigned to pursue another position elsewhere. The board of directors has announced that Byron O. Pond is to serve as interim CEO while the company searches for a replacement. In the last year Cooper’s share price has fallen around $11 and the company has reported a string of unimpressive quarterly reports. First half 2006 results showing a 19 per cent sales increase and $26 million of losses were published in parallel with the news of Dattilo’s resignation.
Continue ReadingPakistan Bans Indian Retread Imports
Pakistan has published a list of 38 items, which are banned from being imported into the country from India. Interestingly retreaded tyres and part-worn tyres feature on the list alongside a string of unsavoury items including: Cannabis, Opium, tanks, machine guns, automatic rifles and armoured vans! A number of more innocuous items including lambs, rabbits and freezers also feature on the list. The 2006 Import Policy Order issued by the Pakistani Ministry of Commerce lists 773 items that can be imported into Pakistan during the 2006/07 financial year. India has complained that the law is against the letter and spirit of the South Asia Free Trade (SAFTA) agreement, which came into force on 1 January 2006.
Continue ReadingOver a Billion Tune in to Maxxis British MX Championship
With a TV audience estimated at over a billion people, the Maxxis British Motocross Championship is attracting a huge following around the world, according to the company. The series is currently seen in almost 500 million homes throughout Europe, Asia, Africa, Australia and the Americas, according to a report from Greenlight Television, which signed a TV deal with the Auto Cycle Union in February.
Continue ReadingHargreaves Buys Sheffield Tyre Recycling Plant
A UK tyre crumbing plant that went into administration recently has been purchased for £1 million, by Hargreaves Services plc, a leading energy and waste services provider. Hargreaves Services says the plant, located in Sheffield, has an annual capacity in excess of 50,000 tonnes.
Continue ReadingViking Battery Promotion
Viking International has introduced a special battery promotion to cater for the autumn/winter demand for replacing car batteries. For all the early bird customers who buy 20 Varta or 15 Power Pak batteries before the end of September, Viking is offering a selection of goodies free, such as POS materials, a quality branded fleece and a battery stand worth £50. Customers can also enjoy extended credit terms as part of the offer.
Continue ReadingCTNA to Close Former Mayfield Tyre Plant
(Akron/Tire Review) Continental Tire North America (CTNA) announced today that it has decided to close its former Mayfield, Kentucky., tyre plant. The plant, which has only served as a warehouse and rubber mixing facility since CTNA ended tyremaking there in December 2004, will be shuttered completely within six months, the company said.
Continue ReadingGM Sues Goodyear For Withholding Tyres
(Akron/Tire Review) The Macomb Daily has reported that General Motors has sued Goodyear Tire & Rubber Co., accusing the Akron tyremaker of withholding tyres in an OE tyre pricing dispute. The suit, said the newspaper, was filed in Macomb County Circuit Court. According to the paper, the lawsuit claims Goodyear recently stopped delivering OE tyres for certain GM vehicles. The disagreement apparently stems from Goodyear’s efforts to increase OE contract pricing due to heavy raw material costs burdens.
Continue ReadingConti Sales Up, Margin Stable
The importance of Continental AG’s Automotive Systems and ContiTech divisions shone through once again as the company published its first half 2006 figures. The two non-tyre divisions achieved sales of 4329.2 million euros and 60 per cent of group EBIT between them, while the tyre divisions both bore the brunt of increased raw material prices despite increased sales.
Continue ReadingThe Whys and RAV4s of Run-Flat Systems
Tyres & Accessories asked Bridgestone UK senior marketing analyst, Andy Dingley to explain why the company recently decided to advise Toyota RAV4 T180 diesel owners to go back to the showroom at tyre changing time. Bridgestone is keen to point out that there is no alternative motive attached to this move, just simple technological constraints. According to the Japanese manufacturer, the situation all comes down to the fact that the new RAV4 uses the Bridgestone Support Ring (BSR) run-flat system rather than a sidewall supported product.
Continue ReadingStapleton’s Moves Forward in Wholesale Market
It’s been a busy year for STS Stapleton’s as the company overhauled its wholesale business but the fact remains that it is one of the largest wholesale distributors of passenger car tyres in the UK. Through its six distribution centres in Letchworth, Wakefield, Coatbridge, Bristol, Burton and Warrington, Stapleton’s carries a large and diverse stock of tyres. Chief executive Kenji Murai described the intentions behind recent developments at Stapleton’s: “Everything we do is with our customers in mind and this goes for the whole business including internal communication channels, delivery targets and stock control. As a result we have improved our relationship with our customers over the past twelve months.”
Continue ReadingTitan and Conti Finalize Bryan Plant Deal
(Akron/Tire Review) Titan International has officially completed the purchase of Continental Tire North America’s OTR tyre plant in Bryan, Ohio. Titan said the purchase price was $53 million. According to Titan, the plant employs 325 people and had 2005 sales of $125 million.
Continue ReadingPirelli Workers to Strike
Workers at Pirelli Tyres operations in both Burton and Carlisle have voted to strike after rejecting the company’s final pay offer of 2.2 per cent, according to the Transport and General Workers Union (T&G). Pirelli had revised the pay deal to 2.2 per cent after workers reportedly rejected a 1.1 per cent offer. Pirelli representatives made no comment in response to the news.
Continue ReadingKneesy Does It from Dickies
During their working lives motor mechanics and tyre fitters must spend hundreds of hours working on their knees. This unavoidable practice is not only uncomfortable but can be extremely painful, particularly when a small piece of debris is accidentally knelt upon. But a more serious and long-term injury can result from long hours working on the knees.
Continue ReadingTwo More Outlaw Wheels
Sherbrook’s Outlaw Wheels brand has enhanced its range with its two latest introductions. The Yakuza and Magnum wheels feature a Stainless Steel Lip as part of their new and exciting designs.
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