Audi Banks on Diesel for Le Mans
Audi hopes that its brand-new R-10 will become the first-ever diesel car to be victorious at the Le Mans 24-Hour race next June. The 650 bhp car will be fitted with what are described as wider and grippier Michelin tyres.
Continue ReadingSRI to Quadruple Production in China by 2008
Sumitomo Rubber industries has announced its intention to quadruple its tyre production in China within three years, in order to meet the sharply rising demand in that country. SRI intends to invest between 10 billion and 15 billion Yen ($85m to $128m) over this period. Production at the SRI plant in Jiangsu province, near Shanghai, will rise from the current 1,500 tonnes a month to 6,000 tonnes. SRI also said that it plans to build a new factory in China to supply tyres to Japanese car manufacturers with factories in China.
Continue ReadingTitan Announces Fourth Quarter Dividend
The Board of Directors of Titan International, Inc has approved a quarterly cash dividend of $.005 (one half cent) per common share for the fourth quarter of 2005. The cash dividend is payable 13 January 2006, to stockholders of record on 30 December 2005.
Continue ReadingMichelin OTR Plant Expansion Adds Presses
(Akron/Tire Review) The $85 million expansion program Michelin North America (MNA) announced for its Lexington, South Carolina, OTR plant will see the addition of at least eight new curing presses. And the company said that it could increase capacity further on available land at the plant site.
Continue ReadingParents sue Cooper
The parents of two young women killed in a head-on collision on Florida’s Turnpike are suing Cooper Tire & Rubber Company, alleging the company’s tyre caused a Thanksgiving 2004 wreck that left six dead. According to an associated press report, the lawsuit, in Palm Beach County Circuit Court, seeks more than $15,000 in the deaths of Michelle Seville, 23, and Marsha Seville, 18.
Continue ReadingGoodyear to Become Sole Owner of South Pacific Tyres
The Goodyear Tire & Rubber Company said it has reached agreement in principle on the final terms to acquire Ansell Limited’s interest in their South Pacific Tyres (SPT) joint ventures, pending government and other approvals.
Continue ReadingContinental to Increase Investment
In 2005 Continental’s capital expenditure increased by 20 per cent and should increase by a further 7 per cent to 910 million euros (6.3 per cent of sales). Over the last three years (2002 - 2004) Continental’s capital expenditure (capex) reached 5.5 per cent of sales, approximately 650 million euros per annum, according to Deutsche Bank analysts.
Continue ReadingCooper Reports Results of Fixed Spread Tender Offer
(Akron/Tire Review) Cooper Tire & Rubber Co. announced that its tender offer to purchase up to $175 million in aggregate principal amount of its outstanding 7 ¾ per cent notes due 2009, 7 5/8 per cent notes due 2027, and 8 per cent notes due 2019 expired yesterday at 5:00 p.m., Eastern time.
Continue ReadingMichelin Boosts OTR Production in Lexington Plant
(Akron/Tire Review) Michelin North America (MNA) has confirmed reports that it plans to invest $85 million over the next five years at its OTR tyre production facility in Lexington, South Carolina, increasing production by nearly 50 per cent.
Continue ReadingUralshina Produces New ‘Shaina’ Tyre
Sibur Holding member, Uralshina has started producing a new ultra-low profile large-size tyre, under the brand name “Shaina.” According to Russian media reports, the new tyre is intended for “high floatation amphibian automobiles” such as Shaina, Ataka and others. The targeted vehicles are used for crossing impassable, swamped or snow-covered land and can cross rivers and lakes, the Russian Financial Information service reported.
Continue ReadingNew National Car Sales Director appointed at ATS Euromaster
Russell Fleetwood has literally stepped up a gear at ATS Euromaster. ATS Euromaster has named the 39-year-old as its new national car sales director, a position he immediately takes over after just one year as one of ATSE’s divisional sales managers.
Continue ReadingYokohama Announces Two New Chinese Joint Ventures
Yokohama has announced that it has entered into two new joint venture operations in China. Shandong Yokohama Rubber Industrial Products Co, Ltd, will produce and sell conveyor belts, and Yokohama Tire Sales (Shanghai) Co, Ltd, will sell tyres, both are set to be established in early 2006.
Continue ReadingPirelli North America Develops at ‘Record’ Pace
According to the Italian manufacturer, Pirelli’s 2006 price book reveals an impressive 61 new sizes added to the range marketed just 12 months ago. These numbers don’t refer to new products in existing sizes (there are a further 65 new product items) but completely new sizes designed from scratch - 28 for passenger cars and a further 33 for light truck.
Continue ReadingAmtel-Vredestein to Sell Amtel-Carbon Subsidiary
(Akron/Tire Review) Amtel-Vredestein NV has completed an agreement to sell its Volgograd-based subsidiary, Amtel-Carbon, for $21 million, according to Russian and European news reports. Amtel-Carbon primarily produces carbon black used in tyre production. The buyer’s name was not disclosed, but the decision was described as part of the manufacturer’s strategy to focus on tyres for premium and mid-range vehicle segments.
Continue ReadingConti Markets Real-World Performance With a Touch of Fantasy
Building on the success of the ContiRoad Attack, Continental has rolled out a new advertising and marketing campaign to promote its new “Uber Sport” radial the ContiSport Attack. The new Attack campaign uses a new approach for Conti, with three distinctive characters, the Warrior Conti Girl and two Road Guards.
Continue Reading