Michelin: European Tyre Volumes Strong in July
Passenger tyre demand increased by 7 per cent in Europe and by 9 per cent in North America, mostly driven by OE demand of +11 per cent and +21 per cent respectively. According to a Deutsche Bank report, July truck tyre demand remained strong in Europe, growing 9 per cent (a positive trend confirmed by truck OEMs who are trying to secure tyre deliveries for 2008) and in Brazil, where volumes rocketed 23 per cent. However, truck tyre demand remains extremely weak in North America (down 13 per cent). According to the analysts this was driven by the very weak OE - down 36 per cent – manufacturers had expected. However, overall July was reportedly a strong month especially for European companies.
Continue ReadingEquip Auto 2007 Kicks off on 15 October
This year’s biggest vehicle service trade show, Equip Auto, is about to open its doors to the automotive world. Suppliers and 140,000 visitors from 130 countries are expected to attend this biennial event in Paris from 15 - 20 October 2007, where market trends are formed and companies present the latest innovative products and the whole of the European vehicle service market meets. Chicago Pneumatic is promoting the fact that it will be present. Interaction is the theme of the Chicago Pneumatic stand, with all products working and the opportunity to try them in simulated industry conditions; it is a chance to show mechanics and technicians that working with Chicago Pneumatic products could drastically improve their work space. Products on show include the formal introduction to the European market of the new range of BlueTork products including the CP7600 and Ergoseat, both products continue to capture the end users imagination and provide a real talking point wherever they are taken. These products highlight the growing importance of the E2Q principal, encompassing increased Ergonomics, Efficiency and Quality.
Continue ReadingDeclining Material Costs may Harm Industry, Say S&P
According to a new report released by Standard & Poor’s, global tyre manufacturers may actually feel more pressure on margins and cash flow as the prices of raw materials decline. The financial and investment specialist added that the industry could suffer if manufacturers take lower costs as a signal to reduce prices in order to gain market share. The reduced income and cash flow from such a price war would in all likelihood more than cancel out the benefits of lower material costs. This is because pricing discipline in the industry may fade if tyre makers start reducing prices on the back of lower input costs in the expectation of gaining market share, said Standard & Poors credit analyst Werner Staeblein. Therefore, declining raw-material prices could spark more price competition in the industry with likely more negative effects on earnings and cash flow generation than the positive effect from lower input prices.
Continue ReadingGoodyear HQ Evacuated in Bomb Scare
(Akron/Tire Review) A bomb scare emptied Goodyear Tire & Rubber Co.’s headquarters in Akron on August 31. No bomb was found, police officials said. Employees were evacuated around 4:30 p.m. after a company employee discovered a “suspicious package” at the headquarters building. The local bomb squad detonated the package on Goodyear grounds. Local police officials said that in recent weeks many businesses in the Akron area had been receiving telephone bomb threats. The FBI is now investigating the Goodyear threat, as well as the others.
Continue ReadingAmtel Founder Resigns
Amtel-Vredestein N.V. (AV’s) has announced that Amtel founder and the Chairman, Dr Sudhir Gupta, stepped down as chairman of AV’s Supervisory Board on 31 August. Maxim Ignatiev, Chairman of the Board of Sport and Fashion Group (formerly Reebok Russia) and Amtel-Vredestein N.V. Vice-Chairman will become Acting-Chairman. Supervisory Board member, Tariq Chaudri, has also resigned as a director with effect from 4 September 2007.
Continue ReadingToyo’s Team Members Win at World Championship Off-Road Races
In the US, Team Toyo Off-Road drivers competing on Toyo Open Country M/T tyres had a great Labour Day weekend during the BorgWarner World Championship Off-Road Races at Crandon International Raceway in Wisconsin. Considered one of the biggest events on the 2007 Lucas Oil World Series of Off-Road Racing calendar, Team Toyo Off-Road drivers Curt LeDuc, Dave Waldvogel and Mike Vanden Heuvel all won races over the course of the weekend. After this big Labor Day weekend, the Super Stock Truck class continues to have a nail-biting championship-points battle between Team Toyo Off-Road drivers Ben Wandahsega and Dave Waldvogel. During Saturday’s race, Waldvogel won his race driving his Bendix/Toyo Tires Chevy truck, while Wandahsega finished an uncharacteristic fifth place in his Forest County Potawatomi/Toyo Tires Chevy truck.
Continue ReadingVOSA Uses MOT Symbol to Strengthen Brand
VOSA is strengthening its brand by the addition of the MOT three triangles to the current brand. The phased introduction of the new brand identity began on 3 September 2007. Stephen Tetlow, CEO for VOSA said: “The MOT three triangles is a well recognised brand, which is used across all MOT test stations and increasingly used by other organisations to symbolise reassuring checks on standards. Capitalising on the use of the three triangles will help a wider audience to recognise VOSA and will help reinforce the role it plays in improving road safety.” In order to reinforce VOSA’s message there will also be a strapline used on written material “Saving lives, safer roads, cutting crime, protecting the environment.”
Continue ReadingMichelin Contemplates MotoGP Withdrawal
Michelin may bow out of MotoGP racing at the end of the current season if the Honda and Yamaha factory teams switch to Bridgestone for 2008, reports Eurosport. After ruling the roost for a number of years, the 2007 season has seen Michelin’s fortunes decline, with Bridgestone shod rider Casey Stoner securing eight victories in contrast to Michelin’s four. Both Yamaha and Repsol Honda’s tyre contracts are due for renewal at the end of this year, and to date neither party has offered any firm indication that they intend to re-sign with Michelin. Should Michelin not retain its factory teams, it may choose to end its relationship with the championship. If we dont have any factory teams I dont think well stay. Or we wont have a really good reason to continue the development,” Jean Philippe Weber, Michelins director of motorcycle racing, told Eurosport. If our partners dont trust in our potential then maybe we dont have to stay.
Continue ReadingViking Stocks New Range of Varta Batteries
This battery season sees the launch of a new range of batteries supplied by Varta. With over six million cars in the 6-9 year old UK car parc and a further seven million in the 3-6 year sector, this new range is designed to help Viking International’s customers more effectively meet end user expectations. All Varta batteries incorporate the latest Calcium-Silver technology, adopted by top car manufacturers to enhance battery life by as much as 20 per cent. The range includes the Varta Black Dynamic, the Blue Dynamic, and the new Silver Dynamic, accepted as an OE fitment for Audi, BMW, Citroen, Ford, Peugeot, Saab and Volvo.
Continue ReadingKeep on Trucking Through Winter
This October will see Continental’s latest cold weather tyre for light commercial vehicles, the VancoWinter 2, arriving this side of the Channel and released onto a market that is increasingly becoming important to van drivers and fleets who realise the safety benefits of fitting cold weather tyres to work vehicles. Already approved as OE for the popular Mercedes Sprinter van and the Iveco Daily, the VancoWinter 2 continues Continental’s success in the area of OE van tyre supply. According to Conti one in three vans leaves a European factory running on Continental tyres, confirming the German manufacturer’s strong OE position. The VancoWinter 2 features sipes that spread when braking to create an ice scraper effect on the road surface, allowing shorter braking distances on winter roads. Open shoulders on the tyre with wide lateral grooves provide excellent water drainage, leading to a high level protection against aquaplaning on wet roads. Conti has striven to create an optimum tyre footprint for the VancoWinter 2, one that allows for even wear. This, coupled with the tyre’s cold weather compound, is reported to give the VancoWinter 2 in the vicinity of 30 per cent extra mileage potential in the winter months compared with a conventional van tyre.
Continue ReadingRedline Completes Progetto Marangoni
After six months of hard work, this summer saw Redline complete is Progetto Marangoni project car. The magazine t translated readers’ ideas into “the coolest, meanest and quickest Toyota Yaris ever.” Back in Japan its designers could never have envisaged the transformation from a daily commuter car to a fire-breather. Progetto Marangoni represents a unique first for the Italian tyre manufacturer and top tuning magazine Redline. Said Derek Carruthers, Marangoni (Car Tyre Division) Sales & Marketing Director: “We decided to adopt a totally new route to reach the young tuning market, which is such a feature of today’s motoring scene. Linking with Redline magazine whose target market this is, has proved to be a success that has surprised both Redline and ourselves. Such a unique media/tyre company partnership has caught everyone’s imagination. For Marangoni it is proving a fantastic opportunity to communicate our message to what is a new, demanding and highly influential market, while for Redline it dramatically shifts their highly regarded project car programme to a new and elevated platform.
Continue Reading39 per cent of Saudi Car Crashes Caused By Worn Tyres
The illegal Saudi Arabian worn tyre trade is reportedly thriving despite the implementation of deterrent fines. According to an Arab News report that quote official statistics, used tyres cause 39 per cent of car accidents in the country every year. The people involved in such accidents said to be generally families travelling at high speeds in their cars on tyres they believe are safe. The lack of awareness of the importance of tyre safety in the region is exemplified by the fact that several media reports have been needed to warn drivers of the risk of using second hand worn tyres, or factory-rejected new tyres. “The summer is the most important season for us, since tyres get damaged as a result of high temperatures,” said Mohamed Thabet, a Yemeni worker at a local tyre shop. Stacked on the wall of his shop were used tyres for sale — some of them so worn that frayed strands of fibre can be seen in patches, Arab News reported.
Continue ReadingAmtel-Vredestein Postpones Eurobond Issue
Amtel-Vredestein N.V., has postponed plans to issue a previously announced 150 million euro Eurobond due to “adverse market conditions.” Instead, it plans to investigate a range of other funding options with Nomura International plc and other financial institutions. “While a Eurobond may be an effective financial instrument, current market conditions are not optimal and an issue at this time could potentially restrict our pursuit of a more comprehensive financing programme,” said new CEO Peter Zolotarev. “Over the past several years, Amtel-Vredestein has expanded its production and distribution platform, and nearly completed its modernisation programme. We are currently re-visiting the Companys development strategy and our first priority must be to strengthen the balance sheet to ensure long-term sustainability, profitability and stakeholder value.”
Continue ReadingConti Acquires Chinese Auto Components Firm
Continental AG’s Automotive Systems Division plans to further consolidate its position in China through the acquisition of Zhangjiagang Fugang Heli Electronics Co., Ltd. from China’s Fugang Group. Conti intends to integrate the operations of Fugang Heli, who manufactures cooling fan modules and window lift motors, into the division’s Electric Drives business unit upon regulatory approval of the purchase. The Chinese company was founded in 2005 and employs approximately 250 staff at its headquarters in Zhangjiagang City, Jiangsu Province and two production facilities in Zhangjiagang and Changchun, Jilin Province. Last year Fugang Heli achieved sales of RMB 84 million (£5.526 million) and sold it products to both domestic and international vehicle manufacturers. With the acquisition of Fugang Heli, Continental Automotive Systems will enhance the local production capability in order to better meet the demand of OEMs in China as well as develop a new base for export into other regions in Asia based on a cost competitive manufacturing, said Dr. Karl-Thomas Neumann, president Continental Automotive Systems and member of Continental AG’s Executive Board. The deal will greatly help Continental Automotive Systems to strengthen its worldwide leading position in cooling fan modules at existing and emerging marketplaces, where our OEM customers are doing their business.
Continue ReadingNationwide Autocentres Open Branch in Gateshead
Nationwide Autocentres, the UK’s largest independent chain of car servicing and repair centres, has opened a purpose built centre in Gateshead. The new centre is located in Retail World, Team Valley, and is able to service and repair all makes and models of vehicles, including prestige marques and fleet vehicles. It will be officially opened in August with a raft of special offers for local residents to enjoy, details of which will be announced shortly. Nationwide Autocentres, the car repairer of the year 2007, a position held by the company four times in the last five years, is also the UK’s only AA approved service, MOT and car repair specialist. The AA will independently audit the centre every 6 months to maintain its “AA Approved Service Centre” status. Commenting on the new centre, Duncan Wilkes, CEO of Nationwide Autocentres, said: “The new Gatshead centre is an exciting development for us. We currently operate over 200 service and repair centres in the UK and hope to have increased this to 230 by the end of the year. The new Gateshead Centre will be the flagship of our new centres and its opening marks an exciting period of expansion for us.”
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