SmarTire Full-Year Revenue up 136 per cent
SmarTire reported record revenue in 2006 of $3.5 million, compared to $1.46 million in 2005. Net loss for the year totalled $29.4 million, compared with $16.1 million a year ago. Losses for the year increased significantly primarily due to non-cash interest charges of $23.2 million in 2006, compared to $3.6 million in 2005.
Continue ReadingCoats Introduces Next Generation of Tyre Changers
With wheels and tyres rapidly getting bigger, heavier and tougher, tyre service is becoming more challenging than it has ever been – and choosing the right equipment is critical. At the SEMA Show 2006, Hennessy Industries unveiled the Coats APX90 tyre as its way of solving today’s tyre changing challenges. New wheels, both aftermarket and OE, are increasingly large and unwieldy and require delicate care. In addition, mounting and demounting low-profile, high-performance and a variety of run-flat designs can be challenging. According to company representatives, “no matter what kind of assembly, the Coats APX90 was designed to handle any job quickly,” with protection for customers’ wheels in mind.
Continue ReadingMichelin Pilot Power 2CT named MCN Product of the Year
The Michelin’s Pilot Power 2CT was named Motor Cycle News Product of the Year at an awards’ ceremony held at the National Motorcycle Museum on 26 October. The entries were judged on a number of criteria including product performance levels, innovation, sales success and success in meeting the needs of the market. The Michelin Pilot Power 2CT was launched to match the ever-increasing performance of sportsbikes, and at the same time, was designed to raise the level of road tyre performance to that of a track tyre.
Continue ReadingContinental Delivers Long Tyre Life to Argos
With 130 million customers spending £3.8 billion a year buying items on-line and through its 670 stores, the Argos retail business needs a massive logistics back up. This requires a fleet of 600 tractor units and 1400 trailers operating from 11 distribution centres strategically located throughout mainland UK. That means that at any given time there are well over 5,000 tyres in contact with the road on Argos vehicles.
Continue ReadingIndependent Garages Lose Ground to Fast-Fits in Car Repair
The latest Castrol Business Services Car Repair Trend Tracker shows that independent garages account for 47 per cent of all work carried out on cars in the UK, while franchised main dealers account for 25 per cent and fast-fit outlets, 9 per cent. But independent garages are revealed to be losing share to fast-fit outlets, with franchised dealers holding steady, when data from the report’s 2005/06 survey is compared with the previous 2003/04 survey period.
Continue ReadingCooper Announces Champ Atlantic Deal at SEMA
Cooper has given details of a new motorsports partnership with the Champ Car Atlantic Series. “The Cooper/Champ Atlantic partnership is mutually beneficial. We have conducted extensive testing with the newly-designed Swift 016.a chassis and have been able to provide a tyre that allows for the best possible setup for optimal performance of both the car and tyre. The Cooper Tire racing slick allows for more adjustments in the mid-range, giving teams and drivers more scope overall. We are confident that the tyres will meet and exceed the teams’ expectations, resulting in high level competitive racing,” said Julian Baldwin, as vice president, European Operations, and managing director, Cooper Tire & Rubber Company Europe.
Continue ReadingTrade Angry at MOT Fee Delay
A long-awaited £6.20 increase in the MoT test fee has been put back more than six weeks by the Department for Transport. Testers expected the increase to be brought in on 1 October, but have now learned it has been put back until 24 November. Some now fear this deadline will slip even further back into December, the NTDA website reported. The traditional date for an MoT fee increase is 1 August.
Continue ReadingFurther Romanian Investment For Pirelli?
Following its recent 170-million euros investment in a tyre production factory in Romania, it seems that the Italian company may be on the verge of investing a further 70 million euros in a plant to produce filters for diesel engines, according to local media reports. The country manager of Pirelli Romania, Guglielmo Fiocchi, is quoted as saying: Next year we could start the construction of a new plant for production of filters for diesel engines in Gorj, with the actual production most likely to begin early in 2008, if the project is approved.
Continue ReadingBFNAT Begins Oklahoma City Cuts
(Akron/Tire Review) The Associated Press has reported that Bridgestone/Firestone North American Tire has begun cutting employment at its Oklahoma City, Oklahoma, tyre plant, which is scheduled to close by the end of this year. Some 400 employees, said the report, will be laid off by the end of this month. In April, BFNAT announced that it would close the plant, eliminating 1,400 jobs there.
Continue ReadingDunlop India Reopens After Inactivity
Dunlop India Limited’s plant in Sahagange, reportedly the oldest tyre plant in Asia, restarts production today (Tuesday 30 October) after years of inactivity. Dunlop’s Ambattur plant re-opened a little over a month ago. “We are dealing with old machines at Sahagange. The problem has been compounded by damage and thefts when the plant had be closed,” S K Paul, managing director of Dunlop India, told reporters at the opening of the Ambattur plant.
Continue ReadingHunter Earns NSPE Best New Product Honour
(Akron/Tire Review) Hunter Engineering won the Best New Product Award from the National Society of Professional Engineers (NSPE) for its DSP600 Digital Imaging Alignment Sensors. The NSPE award recognizes engineering ingenuity, functionality, safety, construction, marketing success and economic contribution. Hunter said the DSP600 Sensors were nominated for the national award after winning the Missouri Society of Professional Engineers (MSPE) New Product Award in 2005. Representatives from MSPE presented the 2006 NSPE New Product Award to Hunter Engineering executives during a recent visit to the company’s Bridgeton, Missouri, headquarters.
Continue ReadingSEMA Show 2006: Conti Launches New ContiSportContact 3
(Las Vegas/Tire Review) Continental Tire North America is using the SEMA Show to launch the ContiSportContact 3 performance tyre line. Released in Europe earlier this year, the tyre makes its North American debut this week in Las Vegas. Already OE on the Audi TT and A6, the ContiSportContact 3 was developed for high performance vehicles and provides shorter braking distances, enhanced handling characteristics and superior grip on wet roads, according to CTNA.
Continue ReadingSEMA Show 2006: CTNA, Giovanna Extend Partnership
(Las Vegas/Tire Review) Continental Tire North America said it will continue its unique joint marketing partnership with Wholesale Tire and Wheel Corp. (WTW), marketer of the Giovanna wheel brand. The joint marketing deal was announced at last year’s SEMA Show, and saw the launch of two Continental-produced Giovanna edition tyres. This year’s SEMA Show will see the addition of nine performance and two light truck/SUV tyres to the collection.
Continue ReadingTitan 3Q Sales 52 per cent Higher, Profits Hit By Taxes
Titan achieved a 52 per cent increase in net sales in third quarter 2006. Net sales were $156.1 million, compared to $102.7 million the year before. Titan recorded gross profit of $17.1 million, a 56 per cent increase when compared to the $11 million of gross profit in third quarter 2005. However, a 40 per cent tax rate in 2006 meant Titan recorded third quarter net income of $0.5 million, compared to last year’s third quarter net income of $1.2 million. Using a 40 per cent tax rate on last year’s pre-tax income, Titan’s third quarter 2005 net income would have been $0.2 million.
Continue ReadingGoodyear Dunlop to “Blow the Lid off Fast-Fit Industry”
Goodyear Dunlop plans to “blow the lid off the fast-fit industry” by expanding its Hi-Q operation, mainly through franchised outlets. At present, the manufacturer owns all but 22 of its 150 retail sites. Peter Tye, Goodyear Dunlop franchise development manager, says: “Our aim is to revolutionize the industry and to become a challenging force within UK fast fit. “We intend to grow our network to 250, and the planned split is 100 owned by us and the rest by franchise holders. We expect all our current franchisees to continue with us, and we’re going through a consultation exercise with them looking at the benefits,” Tye added.
Continue Reading
