Bridgestone Thailand Sales Up 10 per cent
Bridgestone Thailand MD, Tomohiko Yoshimoto, is predicting his companys truck and bus tyre sales will grow at least 10 per cent, Thailand’s Bangkok post has reported.
Continue ReadingVellco Buys REG UK
Yorkshire based Vellco Tyre Control has bought REG (UK). As of today the whole operation will be absorbed into Vellco’s business, a company spokesman confirmed. At the same time REG (UK)’s former managing director, John Campbell, has joined Vellco’s management board as business management director. In this position, Mr Campbell will continue his relationships with existing customers, maintaining his “roving role,” the company added.
Continue ReadingKumho Sets IPO Prices
Kumho will launch initial public offerings (IPO) on both the South Korean and London stock exchanges at $15.58 per share, South Korea’s Dow Jones has reported. The tyre manufacturer expects to raise approximately $400 million (£210 million) in the sale. Kumho Tire Co. is said to be selling some 25 million shares in the simultaneous IPO. “A heavy flood of orders is expected to be placed before the offer close,” Dow Jones reported. The news follows Cooper Tire & Rubber’s early January announcement that it would buy an 11 per cent share of the company, which amounts to 7.5 million shares.
Continue ReadingBandag Profits Increase 10 per cent
Bandag Inc experienced a 10 per cent increase in profits during 2004, Tire Review has reported. According to the magazine, Bandag 2004 results also showed a 5 per cent increase in net sales compared to its 2003 figures. During 2004 Bandag recorded sales of $854.2 million, compared with $816.4 million in 2003, and net profits of $66.9 million, compared with $60.2 million in 2003.
Continue ReadingGoodyear NA in the Black?
Goodyear North American Tire division president, Jon Rich, said his unit’s 2004 financial results would show its first annual profit in three years, according to a Tire Review report. Mr Rich made his comments at the company’s annual dealer meeting in Dallas. Aggressive cost cutting and high sales of Goodyear’s Assurance passenger tyre line led to the improvements in both sales and profits, he explained.
Continue ReadingVredestein to Take Amtel to North America?
Amtel’s acquisition of Vredestein Banden might result in the Russian brand’s introduction to the North American market, Marc Luyten, Vredestein Bandens director of marketing and sales, according to a Modern Tire Dealer Report. Mr Luyten’s suggestion follows the news that Amtel will buy Vredestein and is planning initial public offerings on the London and Moscow stock exchanges.
Continue ReadingFire at ContiTech Facility
A fire at ContiTech’s Dannenberg facility is likely to cost millions of euros, the company reports. The recent blaze, which broke out on the morning of 29 January, completely destroyed one machinery hall and partially damaged another. The fire also spread to a warehouse and a laboratory. Although the flames were strong enough to require 300 fire fighters, no casualties have been reported and local residents are not said to have been in any danger. The majority of production was also able to resume the same day. The Dannenberg factory belongs to two divisions of ContiTech Antriebssysteme GmbH and Vibration Control GmbH. The plant produces a range of automotove products including drive and timing belts for industrial purposes.
Continue ReadingBridgestone Strengthens Retreading Activities
Bridgestone Retread Systems is relatively new to the retreading market, having entered the sector in the past year through a joint venture between Bridgestone and Marangoni/Ellerbrock. The idea behind the new company was to was to bring together and direct Bridgestone’s retreading activities in Europe from a central point; hence its location in Brussels. The joint venture with Marangoni Tread and its German subsidiary, Ellerbrock Tyre Retreading Technology, allows the Japanese manufacturer to cast its retreading net even further; and it can now offer its partners the support and assistance to gain the ECE 109 and the ISO 9001-2000 certifications.
Continue ReadingIndonesian Supreme Court to Rule on Goodyear Trademark
After 10 years of written notices and attempted negotiations, the Indonesian Supreme Court is about to settle a dispute between Goodyear Tire & Rubber (GTRC) and PT Banteng Pratama Rubber. Goodyear contends that Banteng continues to produce bicycle tyres using the Goodyear trademark even though its agreement with GTRC expired in 1993. Banteng even created its own “Goodyear-Luckystone” brand and uses the American conpany’s winged foot logo on its products and letterhead.
Continue ReadingKumho Tops Magazine Test
Kumhos ECTSA V70A has won a tyre test of road-legal track day tyres. The test, run by German motoring magazine Auto Bild test & tuning, pitted semi-slicks from Michelin, Toyo, Yokohama and Pirelli against each other. Auto Bild testers praised the winning tyre for its excellent lateral and directional stability as well as its dry braking. The magazine awarded Michelin and Toyo joint second place, Yokohama took fourth position, while Pirelli came last. Auto Bild testers also praised the generally high quality of all of the entrants.
Continue ReadingGoodyear Releases Kevlar Reinforced Tyres
In the US, Goodyear has released two new premium tyres aimed at SUV and light truck drivers. The Wrangler and Fortera both feature one of the company’s latest innovations, SilentArmor technology. When Goodyear says its tyres use this technology, it basically means that the products include three distinct features. Firstly they use an “armour zone” that is comprised of a layer of DuPont Kevlar, a material five times stronger than steel. In addition, they feature an extra durable sidewall in order to resist punctures and cuts. On top of this the products include a rugged rim guard that helps protect wheels from rim damage. On the comfort side, the Fortera tyre features a layer that is designed to “soak up” road noise and vibration.
Continue ReadingMichelin Pulls Gourment Guide
Michelin has removed one of its gourmet guides from sale after it emerged that it carried a top review for a restaurant that had not yet opened.
Continue ReadingIndian Tyre Market Grows 8.3 per cent
The Indian tyre industry has grown at a rate of 8.3 per cent over the last decade, mainly fuelled by strong growth in the domestic car industry, according to research and markets. A new report from the analysts concludes that although the replacement market has driven the industry, the OE market has also seen robust growth over the last couple of years. Confirming these findings, Apollo Tyres recently posted third quarter results showing a 7.74 per cent rise in net profits to £2,060,000 for the quarter ended 31 December. In response, Apollo shares were trading at 253.90 rupees, up 1.56 per cent. The industry is highly capital intensive, requiring around 4 billion rupees to set up a radial plant with a capacity of 1.5 million tyres, and around 1.5 – 2 million to construct a crossply plant of the same capacity, research and markets reports. The Indian industry is dominated by a few main players. MRF, Apollo Tyres, JK Industries and Ceat all enjoy more than 70 per cent of the total market share.
Continue ReadingBERU Offers Additional Two Weeks
Following the expiry of its voluntary public tender period, BERU AG has begun an additional two week acceptance period for its shareholders. The additional period will run from 28 January to 10 Febraury 2005. During this additional acceptance time, shareholders will still be able to submit their shares in exchange for 67.50 euros per share in cash.
Continue ReadingUS Tyre Shipments Increase by 2.5 per cent
US tyre shipments increased by 2.5 per cent in 2004, compared with 2004, according to preliminary estimates released by the RMA. The group cited strong increases in the nation’s GDP and Industrial Product Index (IPI) as being behind this growth. The positive general figure contrasts with a 2.8 per cent decline in passenger car OE sales, which fell to 53 million units. Light truck OE also decreased by 600,000 units, or 7.5 per cent, to approximately 7.4 million units in 2004.
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