Cooper Reports Net Sales Increase and Income Drop
Cooper Tire & Rubber has reported a 5 per cent year-over-year increase in net sales, a fourth quarter record for the company’s tyre operations. At the same time the board of directors authorised the repurchase of up to $200 million of the company’s publicly traded notes. This will be done through open market transactions, a tender offer or a combination of the two. Total net sales for the companys continuing operations increased to $541 million in the quarter ended 31 December 2004, compared to $515 million in the same period of 2003. Income from continuing operations dipped significantly in the quarter to $3 million (4 cents per share) from $8 million (10 cents per share) in the fourth quarter of 2003.
Continue ReadingMatador Truck Tours Europe
Matador is celebrating its 100th anniversary by touring western Europe with its presentation truck. The company first used its presentation truck in 2004 and will now use it to remember its long history and highlight its objectives for the future. The truck provides a suitable environment for presentations, training activities, business negotiations and has exhibited at exhibitions and motorsports events. Last year the truck embarked on its central and southern Europe tour with the intention of focusing on training markets of the Czech Republic, Hungary, Poland and Greece. Mr Reich, head of the marketing department of Matador Tyre division described last year’s tour: “It is understood that our objective was to get closer to our customers. And I could say from my experiences of last season that this form of presentation got quite a warm welcome from our business partners.“ The presentation truck will be touring during April and has planned stops in France, Belgium and the UK.
Continue ReadingMichelin Extends X One Guarantee
Michelin is extending the X One Total Satisfaction Guarantee into 2005, US magazine e-trucker has reported. The guarantee will be available to X One tyre customers in the US that purchase at least four replacement assemblies. According to the report, the guarantee will cover the first 10 sets of X One tyres purchased. As part of its guarantee, Michelin will buy back X One casings and will cover 75 per cent of the cost of the wheels if the owner isn’t pleased with the tyre’s performance at the end of its original tread life. Michelin recently added a new production line at its Spartanburg, South Carolina, factory partly to increase its capacity to produce X One tyres.
Continue ReadingMichelin Sells Wheel Business to Mefro
Michelin is set to sell its wheel business to the German Mefro group. According to Michelin, the new owners will keep both manufacturing plants and their 1800 strong workforce intact. Mefro, a family-owned company, has an annual turnover of approximately 160 million euros and aspirations to become the “number one European wheel manufacturer.” Now in light of the recent purchase, the company sees itself as a significant competitor to European steel wheel producers Gianetti and Hayes Lemmerz.
Continue ReadingSlow Start to the Year for European Car Registrations
Total European passenger car registrations remained virtually flat, falling 0.8 per cent year-on-year. According to the ACEA, the association that processes the figures, “the relatively slow start to the year has been mainly driven by the drop posted by new EU member states (-12.7 per cent). Among the five main markets the UK (-8.2 per cent), Germany and Italy (-3.7 per cent) all reported losses. Meanwhile France and Spain both recorded increases of more than 6 per cent. As far as manufacturers are concerned, Fiat Group registrations continued to drop (16.9 per cent year-on-year) as did DaimlerChrysler’s (-4.9 per cent) and Hyundai’s (8.9 per cent). VW and PSA group registrations both remained flat at 193,000 and 172,000 units respectively.
Continue ReadingYokohama Announces 3 per cent Sales Increase
In the first three months of the 2005 financial year Yokohama reported 305.9 billion yen (£1.54 billion) of net sales, a three per cent increase on the previous year. The company explains that strong overseas sales offset the negative impact of the high yen. Results for the period ended 31 December 2004, also showed that operating income dropped to 17.5 billion yen (£88 million). At the same time net income decreased 6.9 per cent to (roughly £41.23 million) Yokohama reports that tyre sales were “solid” overseas, especially in North America, Asia and Europe, while replacement sales in Japan grew. Sales of the Tire Group therefore increased 4.3 per cent to 226 billion yen (£1.14 billion). The management maintains its full year projections, saying that Yokohama will record a 4.6 per cent gain in net sales, a 9.1 per cent increase in operating income, a 4.3 per cent rise in ordinary income and a 3.2 per cent drop in net income.
Continue ReadingEllerbrock Publishes New PRL Catalogue Online
Ellerbrock has published a new catalogue detailing the latest updates to its Profil Liner range of retreads. The latest PRL catalogue is available to download free of charge from the following address: http://ellerbrock.de/images/prl_actuell.pdf
Continue ReadingSolberg and Pirelli Win Swedish Rally
The combination of Pirelli’s new studs and Petter Solberg’s driving has brought Michelin’s Swedish rally winning streak to an end. Before this year, the French manufacturer’s run stretched all the way back to 1997. ”Despite the difficult conditions, our P Zero J1 tyres won the rally and the overwhelming majority of the stages,” said Pirelli tyre rally manager Fiore Brivio, speaking at the finish. The race winner was quick to thank the Italian tyre firm: ”There are so many people to thank, everyone from [co-driver] Phil Mills, to the guys who work on my car, to Pirelli who have built such an incredible tyre, and the supporters out on the stages who cheered us along. Thanks so much to all of you!”
Continue ReadingMinardi Boss Slams Tyre Rule
Minardi owner, Paul Stoddart, has singled out the Formula 1’s new tyre rule for criticism. Running tyres for a whole race distance creates additional concerns he explained. “I’ll tell you what, if there is a serious accident, and I sincerely hope there isn’t, the person who brought this regulations in will be totally responsible,” Paul Stoddart told the Australian Sports Entertainment Network. “And it wasn’t any of the teams.”
Continue ReadingPoint S Urges Members to Have ‘Courage for the Future’
At the end of January point S, Germany’s largest cooperative, held its second annual meeting since it merged with competing buying group, VRG. Although more than two years have passed since the merger, the meeting revealed that the dust hasn’t settled yet, and, following a number of management changes, there is still plenty of strong feeling on the subject. Nevertheless, nearly 750 participants travelled to Leipzig’s Congress Center for the two-day meeting and heard about the organisation’s “courage for the future.”
Continue ReadingTire Service Equipment Acquire New Product Portfolio
Phoenix-based Tire Service Equipment Mfg Co, has acquired the manufacturing and marketing rights to seven products manufactured by Safe Shop Tools Inc, according to Tire Review. The new product portfolio includes; PakPress, portable wheel stud remover and installer; Tweel Handler, a tyre and wheel handling system; Back Buddy II Tool, a hub and drum tool; Clever Lever, a tyre and wheel caddie; Versa Vac, a radiator pressure tester and coolant dam; Striver, an S-cam bushing driver; and Stepper, a portable tyre step. Tire Service Equipment also operates Saf-Tee Siping & Grooving Inc, which produces and markets a line of tyre sipers, as well as nitrogen inflation systems and Cheetah brand bead seaters.
Continue ReadingLiving to Work or Working to Live?
Generation Y are better consumers than they are employees, according to a recent study quoted by Tire Review. Wards Auto World found that this group of employees go through jobs at an astounding rate and that they have an odd value system.
Continue ReadingUSWA Pressurises Bridgestone
While contract talks between the USWA and Bridgestone/Firestone North American Tire (BFNAT) progress, the union plans to increase pressure on the tyremaker to come to an agreement, reports Tire Review. BFNAT union workers have been working without a master contract since April 2003. The two sides have been working off the previous contract on a day-to-day basis. Talks broke off in November 2003, and did not resume again until December 2004.
Continue ReadingMotorcycle Tyres
More than five million motorcycle tyres are sold every year in Western Europe, making motorcycle tyres an extremely important niche market. In addition manufacturers are interested in this area because of the kudos influential companies can gain. In the next issue of Tyres & Accessories we take a close look at what’s going on and ask: “What’s coming next in the motorcycle tyre business?”
Continue ReadingBrazillian Tread Producer Aims For International Market
Brazillian retread product manufacturer, Vipal, holds 43 per cent of the world’s second largest market and is represented in 90 countries. Now the company is aiming to expand its global business. After a successful SEMA show, the company stepped into the Mexican market with the inauguration of the Vipal distribution centre in Mexico and the launch of the Vipal Authorized Dealer Network. The company also launched its new Vipamold VRA tread design for use on drive and trailer tyres.
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