Difficult Times For Amcast
Wheel deliveries between Amcast and General Motors have been temporarily restored following the component manufacturer’s second chapter 11 filing this year. The move is said to have averted a shut down at several GM assembly plants. Either way, court documents presented in Amcast’s bankruptcy filing report that it stopped all deliveries of previously ordered wheels to GM on 30 November, the day before Amcast filed for emergency bankruptcy protection. That move came after talks designed to modify business contracts between the two companies broke down.
Continue ReadingTrucking Technology Group Joins TRIB
(Akron/Tire Review) The American Trucking Associations’ Technology & Maintenance Council (TMC) has joined TRIB, and will work with the retread group “mutually beneficial” tyre-related projects.
Continue ReadingContinental Bullish About 2006
While Continental remains bullish about its prospects in 2006, some analysts are questioning how long the company’s strong run of results can last. Needless to say, the Deutsche Bank market watchers are not complaining about the German business’ financial strength. As one report says “Continental’s CFO was bullish 12 months ago. And he was right.” As far as they are concerned its more a question of “how long can the company continue to grow at this pace?” rather than “when will the bubble burst?”
Continue ReadingMichelin to Sell Agri Tyres in Mexico
(Akron/Tire Review) Michelin North America (MNA) said that it will begin selling its Michelin and BFGoodrich branded agricultural tyres in Mexico as of 1 January, 2006. The tyres will be available through a “network of select dealers” in Mexico. MNA will offer radial Michelin brand tyres, and “value priced” BFGoodrich units.
Continue ReadingHamburg Court Approves ContiTech/Phoenix Merger
A Hamburg court has dismissed a total of 26 actions relating to the merger of ContiTech and Phoenix. In so doing, the court affirmed the validity resolutions made at a Phoenix extraordinary shareholders meeting at the end of 2004. This means the merger has cleared a significant legal hurdle on the road to legal clearance.
Continue ReadingToyo Celebrates Grand Opening of Georgia Plant
(Akron/Tire Review) Toyo Tire North America Inc. (TNA) officially opened its first North American tyre production facility this morning in White, Georgia. The opening ceremonies were attended by Georgia state and regional officials, Toyo and Nitto tyre dealers, and Bartow County, Georgia., business and community leaders.
Continue ReadingAg Market Moves Towards Low Profile
Tyre manufacturer Firestone has reported that more farmers are demanding 65 series tyres, instead of 70 series or standard 85 series. Tyres & Accessories magazine asked to Barry Coleman, Firestone’s marketing manager about the swing.
Continue ReadingHayes Lemmerz 3Q Sales Up 11 per cent
Hayes Lemmerz International, Inc today reported that sales for the fiscal third quarter ended 31 October 2005, rose 11 per cent to $604.0 million from $545.9 million for the same period last year. However Hayes Lemmerz reported net losses of $13.3 million, compared with $5.3 million in the same period last year, and issued revised guidance for 2005.
Continue ReadingSlashing Rampage Causes $30,000 in Tyre Damage
(Akron/Tire Review) Calgary, Alberta, police arrested four teenagers who allegedly slashed the tyres of more than 80 cars this past weekend. Estimates are that the vandalism, which occurred early on 4 December caused some $30,000 in damage. Police arrested and charged three 15-year-olds – two boys and one girl, and a 16-year-old boy with 204 counts. News reports say the victims are upset, having to face replacing tyres just before the holidays. In one case, according to police, one victim had all four tires on his three vehicles slashed.
Continue ReadingBFS Venezuela Plant Back on Stream
(Akron/Tire Review) The union feud that forced Bridgestone/Firestone to twice close its Valencia, Venezuela, plant has apparently ended and the plant has restarted production. Tyres were rolling off the line late on 6 December, according to a company spokesman.
Continue ReadingIndia: Tubeless Sales Remain Flat
Tubeless tyre sales in India remain flat despite the best promotional efforts of manufacturers. According to the Business Standard, tubeless products “have failed to impress buyers.” “The infrastructure development and the road conditions have not kept pace with the technology development. The sales of tubeless tyres is restricted to the higher segment premium cars and still not many here are aware about the benefits of tubeless tyres,” said the regional service manager of JK Tyre.
Continue ReadingMichelin to Reduce Costs by Targeted Retiree Replacement
(Akron/Tire Review) Groupe Michelin Managing General Partner Edouard Michelin, on a visit to the US, said the company will pursue cost reduction gains by replacing only a portion of workers who will retire in the next few years. This includes Michelin operations in the U.S. and Europe. AFX News reported that Michelin, who visited his company’s North American operations, said: “There is no magic formula” for the reductions, and that decisions on whether to replace certain retiring workers would be made on a case-by-case basis.
Continue ReadingNew Business Development Manager at RH Claydon
RH Claydon Ltd has appointed John Parker as business development manager. The decision is effective from 1 January 2006. In this role Parker will be responsible for the companies equity and wholesale major accounts throughout the UK and Ireland.
Continue ReadingRecord US Tyre Shipments
Passenger car replacement tyre shipments are expected to reach a record total of 205 million units this year, according to the latest RMA figures. The previous record was 198.9 million units, set in 2000. This will be the first time shipments have exceeded 200 million units in any given year. Similarly, tyre shipments for the combined original equipment (OE) and replacement consumer and commercial sectors are expected to increase by 2.2 per cent compared to 2004 as a result of continued steady economic growth.
Continue ReadingBridgestone to Open West Bohemia Distribution Centre in 2006
Bridgestone is planning to open a European distribution centre in the Czech Republic in July 2006, Gert Meylemans, senior manager corporate PR at Bridgestone Europe NV/SA told Czech Business Weekly.
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