Hayes 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 ReadingTitan Extends Deadline For Fifth Time
(Akron/Tire Review) Despite claims that it has reached an agreement with the United Steelworkers that would pave the way for the completion of its planned purchase of Goodyear Tire & Rubber Co’s agricultural tyre business, Titan International has filed for its fifth extension for the deal. The new deadline set by Titan is 31 December.
Continue ReadingHow to Successfully Recruit Senior Staff
A company’s success is determined by how good its people are and the more senior the people the greater the effect - good or bad –they can have on a company’s success. So how do you ensure that your next high flyer will be exactly that?
Continue ReadingGoodyear: Committed to Philippines
(Akron/Tire Review) Despite circulating rumours, according to local media, Goodyear Tire & Rubber Co plans to maintain its operations in the Philippines, and hopes to reach a new deal on a 25-year property lease with the National Development Co there. According to news reports out of the Philippines, Goodyear Philippines president David Joseph Morin disclosed this at the company’s 50th year celebration this week and revealed plans to expand its network of Goodyear outlets in that country. The company’s 25-year lease contract with the National Development Co. for the 18-hectare lot in Las Piñas expired in May 2000 and has been extended month to month.
Continue ReadingHi-Q Leads in RunOnFlat Training
Hi-Q is leading the way on RunOnFlat tyre technology thanks to an intensive training programme for its fitters. A total of 131 nationwide stores have been put through a special Goodyear RunOnFlat training programme.
Continue ReadingNR Prices to Continue to Rise in 2006
Natural rubber prices are predicted to keep rising in 2006 for the second straight year, as demand from tyre manufacturers continues to outstrip supply, Rubber World has reported. “Bullishness may persist in the rubber market as demand for the commodity remains quite strong,” Michael Coleman, managing director of Singapore-based Aisling Analytics told Dow Jones newswires.
Continue ReadingNew Investor Relations Manager at Amtel-Vredestein
Amtel-Vredestein OJSC, Amtel-Vredestein Holdings’ Russian operation, has appointed a new deputy general manager. In his new position Dmitry Zubkov will take responsibility for investor and press relations. The announcement follows the news that Mr Zubkov’s predecessor, Gernardi Frolov, has left the company.
Continue ReadingMichael Wessel Joins Goodyear Board
Michael R Wessel, an attorney with many years experience as a policy and international trade advisor in Washington, DC, has been elected to Goodyear Tire & Rubber Company’s board of directors.
Continue ReadingMichelin Sales Volume Dips
Michelin’s 2005 sales volume growth will be negative for only the second time in 10 years, Deutsche Bank analysts have reported. However, despite this seemingly negative news, the management is said to be aiming for “at least stable” operating profit margins, compared with 2004 (8.7 per cent).
Continue ReadingQuickSilver Exhaust for Bentley Continental GT
Most people would agree that the sound is an important part of driving a ‘Sports’ car. However, when it comes to the Bentley Continental GT, the original factory silencers are cleverly designed but too quiet for many drivers’ tastes, says exhaust specialist QuickSilver. QuickSilver’s design team has developed a ‘Sports’ system with internals created to allow the volume and flow to increase in proportion with rpm. This provides a unique, higher pitched and crisper exhaust note, while a much more efficient exhaust gas flow means a real improvement in turbo response and acceleration.
Continue ReadingStamford Tyres First Half 2006 Net Profit up 114 per cent
Singapore’s Stamford Tyres has published first half 2006 results which show the company is ahead of schedule as far as net profits are concerned. In the six month period ended 31 October the company recorded a 114.3 per cent rise in net profits to S$6.5 million.
Continue ReadingFiore Tapped to Head TIA Government Relations
(Akron/Tire Review) TIA has named Paul Fiore, its current director of business development, as the association’s new director of government and business relations. Fiore replaces Becky MacDicken, who left TIA as of 2 December for a position in Pennsylvania.
Continue ReadingHayes Lemmerz Sells Cadillac Foundry
Hayes Lemmerz International, Inc. has confirmed that it has sold Hayes Lemmerz International - Cadillac, Inc, a wholly-owned subsidiary that operates its Cadillac, Michigan facility. The Cadillac operation was sold to a group of private investors and will now be renamed Cadillac Casting, Inc.
Continue ReadingRetiring Hercules Chief Looks Back
(Akron/Tire Review) In 1958 Craig Anderson sold his first set of Goodyear Double Eagles while working at his uncle’s tyre store in New York state. Now, after 40-plus years in the tyre and rubber industry, Craig has stepped down as president and chief executive officer of Hercules Tire & Rubber Co.
Continue ReadingAutodata to Launch Updated Wheel Alignment Manual
Autodata has updated its Wheel Alignment Data manual to include information on over 60 new models and important revisions to many other models. The 2006 edition marks 30 years of accurate up-to-date information on Wheel Alignment from Autodata.
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