Toyo Announces Technical Partner Agreements with European Manufacturers
Toyo Tire & Rubber has formed technical partner agreements with Breyton, BMW’s tuner, Kleeman, Mercedes Benz’s tuner, and Sportec, Porsche’s tuner. According to the company, the agreements represent a part of Toyo Tire’s efforts to collaborate with leading European tuners. Toyo Tire expects that the partnerships with these three European tuners will be mutually beneficial in terms of technology information exchanges and increased brand exposure gained by promoting their brands with each other at trade shows and advertising activities.
Continue ReadingGoodyear Names New Manufacturing VP
(Akron/Tire Review) Goodyear Tire & Rubber Co has named Christopher Werner as its new vice president of manufacturing for its North American Tire unit. Christopher Werner comes to Goodyear from GST AutoLeather Inc, a supplier of automotive leather for luxury vehicles from Toyota/Lexus, Acura, Ford, Chrysler and others, where he served as senior vice president of global operations. Mr Werner, 42, will report to Jon Rich, president of North American Tire, and Chris Clark, senior vice president of global sourcing.
Continue ReadingApollo Tyres Reports Record Fourth Quarter
India’s Apollo Tyres has reported that it achieved record sales in the fourth quarter of its 2004/2005 financial year. At the same time the company announced a 45 per cent dividend. For the 2004/2005 year Apollo Tyres Ltd posted a gross turnover of 26.56 billion rupees (£332 million), a 15 per cent growth over the previous year. The company also registered the highest quarterly sales achieved in its history - over 7.5 billion rupees in the last fourth quarter. This represents 21 per cent growth over the same period last year. At the same time the company maintained three per cent net profit.
Continue ReadingStrong US Demand Good For Cooper
US tyre demand came in strong during May, Deutsche Bank analysts have reported. As a result the major manufacturers are reported to have averaged a 3.6 per cent year-over-year increase. However, although demand appears to have recovered from the 3.8 per cent drop it suffered in April, the analysts are cautious about reading too much in the figures.
Continue ReadingRoesler to Buy Bryan Factory
Continental Tire North America Inc. is expected to sell its 312-employee Bryan tyre factory this summer to the German Roesler Group, the Toledo Blade has reported. According to the reports, negotiations are said to be ongoing, and a sale price has not been determined. Roesler is expected to take on the plant’s existing staff. The northwest Ohio factory primarily makes giant tyres used on earth-moving equipment.
Continue ReadingBrand and Service Belong Together
The decision to introduce a private brand was taken in light of the strategic advantages, says point S international AG. Point S believes that it can react more flexibly to the changing market conditions because of its adoption of the Summerstar and Winterstar tyres, which are produced in Europe and sold in all states represented by the cooperative. Heinz-Werner Knörnschild, chairman of point S international, told Tyres & Accessories what he sees as the benefits and requirements that come along with the introduction of a private brand.
Continue ReadingPerforming With Private Brands
National wholesaler Southam Tyres, a trading division of Micheldever Tyres Services Plc, has an established position when it comes to private brands. And as the home of the UK’s first exclusive own-brand tyre, the company is in a good position to comment on the future of the private brand concept. Similarly Stapletons Tyres Services is another of the UK’s most influential tyre wholesale businesses and sells significant quantities of private brand products. When Tyres & Accessories spoke to the company’s two marketing managers (Stuart Amos representing Southam Tyres and Stephen Marsh, Stapletons), they explained that there is an art to selecting the right brand and sizes and that private brands are moving away from being synonymous with yesterday’s technology, towards the forefront of consumers’ high performance demands.
Continue ReadingSumitomo Rubber to Invest in Thailand
Sumitomo Rubber is reportedly planning to build “the world’s largest quality tyre factory” in Thailand, local media sources have reported. The factory will be base in the eastern province of Rayong and will aim to manufacture 7 million Dunlop branded tyres a year with the first tyres rolling off the production line in 2007, according to the reports. Wiboon Kromdin, president of the Amata City Co Ltd, said that Sumitomo had already signed an agreement to purchase land for the production plant. The move represents the company’s first investment in Thailand. The location is said to have been chosen due to its proximity to Laem Chabang Port, and Thailand’s position at the centre of distribution to the Asian market.
Continue ReadingCompanies Challenge Tyre pressure Rule
Major tyre companies including Bridgestone Corporation, Cooper Tire & Rubber Co and Goodyear Tire and Rubber Co have sued the US government in order to block the introduction of a new TPMS regulation. The companies, joined by trade and consumer groups, claimed that the car and light truck regulation was inadequate to ensure safety.
Continue ReadingUK Equipment Ltd New Area Sales Manager
UK Equipment Ltd has appointed David Speirs as area sales manager for Scotland and Northern Ireland. In this role Mr Speirs will be responsible for strengthening the company’s existing distributor base, whilst growing the brand through its OEM business and corporate dealers throughout the region.
Continue ReadingContinental Expects $122.7 million Loss in US
Continental AG is expecting a loss of $122.7 million in its US passenger-car tyre business this year, Hannoversche Allgemeine Zeitung has reported. The business posted a loss of $98 million the year before. The newspaper did not name any sources but did report that up to 300 of the 1,400 jobs in its plant in Charlotte, North Carolina, plant would be cut in July and production would be reduced by a third to roughly 16,000 tyres per day.
Continue ReadingYaroslavl Reports Operating Results
JSC Yaroslavsky Tire Works in Yaroslavl, one of Russia’s largest tyre manufacturers and a part of Sibur holding, has released full-year 2004 and first quarter 2005 financials. The results show that, once again, although the companys output dropped its profitability has actually increased. 2004 sales fell 30 per cent year-on-year to $95 million, while operating profit dropped 17 per cent to $2.5 million.
Continue ReadingOmskshina Sales Drop 38 per cent
Omskshina, a subsidiary of Sibur, has released its full year 2004 and first quarter 2005 results showing sharp declines in sales and output. In 2004 tyre output fell 27 per cent year-on-year to 3.8 million units. At least part of this sizeable drop can be attributed to Sibur’s decision to transfer the production passenger car and light truck tyres to its Matador-Omskshina joint venture. Although to all intents and purposes this was a sideways move, the transition of these figures from one balance sheet to another, has obviously had a marked impact on Omskshina’s totals.
Continue ReadingAmtel to Hold Private Placement.
Amtel Tire Holding is to hold a private placement which could raise $80-100 million, general director Alexey Gurin told journalists. The analytical information agency suggested that the funds attracted will be used for the partial repayment of debts and the reduction of debt loading.
Continue ReadingFulda Tyres Team Joins the Race
A group of associates from Fulda Tyres in Birmingham have participated in the Great Midlands Fun Run, raising money for the Acorn Children’s Hospice in Sutton Coldfield, Birmingham in the process.The 8.5 mile run started in Sutton Park on 5 June and ended in Sutton town centre in front of a crowd of spectators. Fulda Tyres did its bit with six employees lacing up their trainers and battling their way through the challenging course.
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