Project Exelero – The Legend Lives
Last month saw the official European launch of Fulda’s new Exelero. But it didn’t stop there. The manufacturer not only presented a new UHP tyre to European press and dealers, but also a new car, the Fulda Maybach Exelero. To read the full story go to Subjects in Focus
Continue ReadingToyo Increasing UHP, LT/SUV Production
(Akron/Tire Review) Toyo Tire & Rubber said it will boost production at its Kuwana, Japan, plant by the end of 2005, adding capacity for 1.12 million additional ultra-high performance and light truck/SUV tyres. Toyo said it is investing some 2.8 billion yen in the project, targeting overseas markets. Toyo said the move is part of its efforts to increase global capacity, including building a manufacturing base in North America, raising production capacity of it joint venture plant in China, and launching another joint venture plant for truck and bus tyres in China.
Continue ReadingTwo MNA Facilities Receive Parent Honors
(Akron/Tire Review) Two Michelin North America (MNA) facilities recently received honors for their safety records. Michelin Americas Research and Development Corp., based in Greenville, S.C., and MNA’s Michelin Retread Technologies Inc. (MRTI) tread pressing plant in Covington, Ga., received the Michelin Achievement in Safety Award for 2004. According to Groupe Michelin, its Michelin Achievement in Safety Award recognises company facilities that “show continued and outstanding improvement in safety for the year.” In addition to the MNA facilities being honored, Groupe Michelin also presented awards to facilities in France, Thailand, Mexico, France, Romania, the United Kingdom, China, Germany, Brazil and Nigeria.
Continue ReadingTIA Petition on TPMS Rule
The Tire Industry Association (TIA) has submitted a petition for reconsideration with the National Highway Traffic Safety Administration (NHTSA) regarding the final rule on Tire Pressure Monitoring Systems (TPMSs). “NHTSA has made what TIA believes to be a huge mistake and is moving backwards on the timeframe in which the telltale must illuminate upon sensing underinflation in a tyre,” states the petition. “NHTSA’s original proposal was that the telltale must go off within 10 minutes of sensing a problem with a tyre’s inflation. The final rule has moved backwards to 20 minutes. TIA is very concerned that this additional 10 minutes will allow an underinflated tyre to further deflate, overheat and potentially fail.”
Continue ReadingSecond Hand Tyre Waste
Second hand car dealers in Scotland may have to hold a license to handle waste tyres, under a new crackdown on fly-tipping reports The Herald. A report will be presented to Glasgow councils licensing committee next week, seeking approval to add a condition on tyres to the licences which second-hand dealers must hold to trade. The move coincides with 22,000 tyres being cleared from a mountain of waste rubber in the city. It cost the city council £39,500 to collect and dispose of the tyres, which weighed 156 tonnes. The condition is aimed at cutting off the supply chain to fly-tippers who dispose of tyres illegally and will target second-hand car dealers in particular, with worn tyres often replaced to make vehicles more attractive to prospective buyers.
Continue ReadingReifen-Seher sold to Bridgestone’s First Stop
Reifen-Seher, an independent tyre company with 17 outlets and a turnover of about 25 Million euros has been sold to Bridgestone, report sources close to the company. Reifen-Seher’s headquarters are based in Friedberg/Hessen. The company runs all of its outlets in the Frankfurt/am Main area. It is thought that Seher ran into financial trouble two years ago, but at the time was strong enough to overcome the problems which might have eventually led to the decision to sell. Peter Seher still stands as president of the German Tyre Dealer Association, his BRV term ends at the end of this month. Seher announced his departure as president some weeks ago.
Continue ReadingSupreme Court Rules for Checkoff Programs
(Akron/Tire Review) The Associated Press has reported that the US Supreme Court ruled that the government was within its rights to force beef producers to pay for a multimillion-dollar Beef: Its whats for dinner marketing program, despite disagreement by some individual cattle producers who disagreed with the direction of the campaign. The court’s 6-3 decision stated that such checkoff campaigns are a form of government speech immune to First Amendment challenge. There is no immediate word yet as to how the Supreme Court decision will impact efforts by TIA to formulate a similar program to support the tyre industry and tyre dealers, but it is expected that this will clear major legal concerns voiced by the Rubber Manufacturers Association and tyre makers and importers.
Continue ReadingFord Issues Tyre Aging Warning
(Akron/Tire Review – Courtesy of Detroit News, By Jeff Plungis) Ford Motor Co has become the first US vehicle manufacturer to warn customers that they should replace older tyres, even if the tread is not worn out. Ford officials said the move comes in response to a growing body of research that suggests tyres deteriorate as they age and can experience tread separations and other failures, even if they look robust.
Continue ReadingCooper Standard Automotive Reports First Quarter 2005 Result
(Akron/Tire Review) Cooper-Standard Holdings, the parent of Cooper-Standard Automotive, has reported results for its first full quarter as a stand-alone company. The company posted revenues of $470.1 million for the first quarter, which ended on 31 March, compared to a record $497 million for the prior year same quarter.
Continue ReadingSuperior Industries Increases Dividends
Superior Industries International, has announced a 3.2 per cent increase in the companys quarterly cash dividend, to $0.16 per share at today’s AGM. The new, higher dividend is payable to shareholders on 15 July 2005. “We always are pleased to increase the cash dividend, particularly as we are faced with the difficult challenges of an increasingly competitive environment and the rapid globalisation of the automotive industry,” said president and chief executive officer, Steven Borick. “This latest dividend increase demonstrates the Boards conviction that we have the right long-term strategy to protect and enhance our industry leadership, and the discipline, determination, and resources required to successfully implement our plans for the future.”
Continue ReadingTitan Elects New Directors
Titan International board of directors has elected several new directors at its annual meeting of stockholders held last week. Maurice M. Taylor Jr will be the new chairman and CEO, Erwin H. Billig vice chairman, Kent W. Hackamack vice president of finance and treasurer and Cheri T. Holley will be the new vice president and secretary. “The Board thanks Mr Billig for his dedication and service as Titan’s chairman during the last 10 years,” stated Mr Taylor. “I personally would like to thank him for all of the time, effort and guidance given to me and the company and I know this will continue in his role as vice chairman.” Richard M. Cashin Jr., Albert J. Febbo and Mitchell I. Quain were also elected by the stockholders to serve as directors for three-year terms. Stockholders also approved the Titan International, Inc. 2005 Equity Incentive Plan and the PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2005.
Continue ReadingGoodyear India: Annual Results
For the year-ended December 2004, Goodyear India recorded a turnover increase of 26 per cent to 7.031 billion rupees (£88.3 million), while the operating profit margin dropped to 3.6 per cent from 4.7 per cent. Helped by the sharp drop in the interest costs, the post-tax earnings rose to 52 million rupees from 10 million rupees the year before. The company repaid high-cost debt by borrowing from its parent Goodyear Tire, US. As a result, the interest cost dropped to 75 million to 133 million rupees.
Continue ReadingFirestone East Africa Becomes Sameer
The company formerly know as Firestone East Africa was given a new logo and rename Sameer Africa at a ceremony in Nairobi. The new company will operate as an independent tyre maker, according to reports by Nairobi’s The Nation newspaper.
Continue ReadingMichelin’s Confident AGM
Executives at Michelin’s AGM have reiterated their target of achieving at least the same operating profit margin in 2005 as they did in 2004, despite lower volumes in the first half of this year. At the same time the company appointed Michel Rollier as new managing partner.
Continue ReadingMontupet to Construct Bulgaria Plant
Montupet S.A., the French aluminium wheel manufacturer, is to put 70 million levs (£24.6 million) in the construction of a new production plant in Bulgaria, according to the Bulgarian investment agency.
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