Amtel-Vredestein Announces New Appointments
The Open Joint Stock-Company Amtel-Vredestein has announced new appointments. Managers with experience in Russian and transnational companies hold key positions in the company. Andrei Makov has been appointed Deputy General Director, Legal Issues; Gennady Frolov, Deputy General director, IR; Marie-Jose Nuelandt has been appointed Deputy General Director, HR; and Andrei Zyryanov, Director, Raw Materials Department.
Continue ReadingDunlop Becomes National MotorWeek Series Sponsor
(Akron/Tire Review) Goodyear Tire & Rubber Co.’s Dunlop brand has signed on as sponsor of the award-winning PBS automotive series MotorWeek, joining Stanley Works as the show’s second national sponsor. Andy Traicoff, director of Dunlop, said the company added MotorWeek to its media mix to promote the 2005-2006 Dunlop Drivers Cup and to increase brand awareness for Dunlop Tires, already popular among performance car enthusiasts. Faced with increased competition for marketing dollars, we targeted MotorWeek to reach automotive enthusiasts who are likely to participate in racing, and to reach the in-the-know driver, said Andy Traicoff, director of the Dunlop brand. Traicoff said Dunlop added MotorWeek to help promote the 2005-06 Dunlop Drivers Cup and to increase brand awareness for Dunlop Tires. MotorWeek is the original automotive TV “magazine series,” and has been on the air since 1982.
Continue ReadingAlliance Tire Company’s Shares Grew at 160% in 2005
The positive business results of Alliance Tire Company have been rewarded by a vote of confidence from investors side. The company is currently producing around 120,000 agricultural tyres at around US $ 42 million a year and has been the second best Israeli stock market investment of the year. Company share grew at 160% from the beginning of 2005.
Continue ReadingGoodyear Looks For Bigger Launches
(Akron/Tire Review) Goodyear Tire & Rubber Co. is looking to launch a number of new products by the end of this year that will be “more impactful” than its already popular Assurance and upgraded Fortera and Wrangler lines. So said Bob Keegan during a briefing with analysts after revealing the company’s first half results. While he would not elaborate, Keegan told analysts, “We have more impactful products that will be introduced later this year.” Goodyear said sales of its Assurance line are well ahead of last years, and its revised Fortera and Wrangle light truck/SUV tyres are selling faster than its Assurance tyres.
Continue ReadingMichelin Increases Two-Wheel Tyre Prices
(Akron/Tire Review) Michelin North America is increasing prices on its motorcycle and scooter tyres, and tubes and accessories. Effective Sept. 1, prices on Michelin two-wheel replacement tyres sold in Canada, Mexico and the U.S. will jump an average of 5%. Michelin said all backorders will be re-priced and shipped at the new price.
Continue ReadingCopper Production Could Be Hurt By Tyre Shortage
(Akron/Tire Review) Mining Engineering magazine reported that one of the worlds largest mining companies said it may have to reduce copper production because of a shortage of large truck tyres. An executive of Corporacion Nacional del Cobre de Chile (Codelco) said demand for truck tyres currently exceeds supply. Guillermo Vero, Codelco Nortes vice president of mining and metallurgy, said the shortage involves tyres for 300-ton haul trucks.
Continue ReadingSumitomo Rubber Raises Forecasts
Sumitomo Rubber Industries has revised upwards its forecasts for its half year financial results, which are due to be published this Friday. The reasons for the upbeat revision are better-than-expected tyre sales at home and overseas, plus benefits gained from price rises during the period.
Continue ReadingKraiburg Treads for Safer Winter Driving
Snow-covered roads, icy tarmac, wet, slush – those who want to be able to drive as safely as possible even in wintry conditions will need special tyres. The better the tread is able to transmit the traction forces, the less the vehicle will be likely to skid – regardless of whether it is a car, a truck or a bus. Retreading specialist Kraiburg Austria’s range of products includes a variety of winter tyre profiles specially developed for commercial vehicles – both in the Kraiburg standard range as well as in the Kraiburg plus premium range.
Continue ReadingTitan CEO Says He’ll Buy Plant With or Without Union
(Akron/Tire Review - Freeport Journal-Standard) Following months of virtual silence about the future of Freeports Goodyear Tire & Rubber Co. plant, among the regions last major source of good-paying industrial jobs, the CEO of Titan International Corporation Wednesday drew a rhetorical line in the sand, saying that while he wants to negotiate in good faith with the local United Steelworkers of America, Titan is in no mood for protracted talks or costly demands.
Continue ReadingMichelin Covers US F1 Refund Costs
Michelins half year financial results, published last week, include provision for the cost of reimbursing ticket holders at this years US F1 Grand Prix at Indianapolis, when seven Michelin-shod teams withdrew from the race. The cost, estimated at around 12 million euros, has been accounted for in the operating income figure before non-recurring items, says the company.
Continue ReadingTyre Pressure Monitor (UK) Signs Distribution Deal
Tyre Pressure Monitor (UK) Ltd. has signed an exclusive deal with Automotive Aftermarket Products, of Coral Springs, Florida, for the distribution of the Quik-Chek Tire Pressure Monitor for the UK and Republic of Ireland. When the tyre has been inflated to the desired pressure, Quik Chek fits on to the tyre valve. To check pressure, the button on the Quik Chek is depressed and a colour-code indicates whether the tyre is at the correct pressure, or over- or under-inflated. It works at pressures from 20-44 p.s.i. (1.4- 3.0 bar).
Continue ReadingIndian Manufacturers Race for Falcon Tyres
Indian news sources are reporting that the race for Falcon Tyres is hotting up, with the Hero Group and Metro Tyres entering the fray to acquire the two-wheeler tyre maker. Sources say Apollo Tyres and JK Tyres, who were earlier in the race, have dropped out because of various reasons. The Bangalore-based Falcon Tyres is part of late Manu Chhabrias Jumbo group. The company markets its tyre under the Dunlop brand. If successful, Falcon’s acquisition will give the Hero Group an entry into the tyre business, while Metro will leapfrog to number two position in the Indian ‘two-wheeler tyre market,’ from a distant fifth at the moment. Asked to comment, Sunil Kant Munjal, CEO and managing director, Hero Corporate Services, refused to confirm or deny the move. “I just dont want to discuss whether we are interested in Falcon or not,” said Mr Munjal.
Continue ReadingNew Kayaba UK Website
Kayaba has revamped its website, giving it a fresh, user-friendly look. It is divided into two sections – one for mechanics and one for distributors – and the latter section features an online version of Kayabas 2005 shock absorber catalogue, plus company information, press releases and product information.
Continue ReadingGoodyear Earnings Double
Goodyear Tire & Rubber has reported second quarter results which show net income more than doubled to $69 million. The company explained that price increases and an improved product mix helped to offset raw material prices. In addition the favourable impact of currency translation is said to have added about $108 million to the sales total.
Continue ReadingMixed Fortunes for Michelin in First Half
Michelin has published its financial results for the first half of the year, showing a 0.1 per cent increase in net sales over 1H 2004 to 7.49 bn euros and a rise in net income of 5.5 per cent to 385.9 m euros. At first reading, these results seem to indicate stability and business as usual, but in fact the story behind them is one of wildly differing performances in the various geographic and product sectors, set against a background of inexorably rising raw material costs. Of the 7.49 bn euros turnover, car tyre sales were 4.12 bn, while truck tyre sales accounted for 2.41 bn euros. Operating income was 679 m euros, of which 383 m was car tyres and 283 m truck tyres.
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