Were Phoenix Shareholders too Hasty?
Shareholders who sold their Phoenix stock for 15 euros per share may be kicking themselves as continental is now offering 18.89 euros per share to shareholders who rejected the offer at the beginning of the year. On Friday share values were quoted as high as 20.70 euros.
Continue ReadingNational Tyres Works With Woman for Charity
Woman magazine, is to raise money for Breast Cancer Campaign by running a competition in association with National Tyres and Autocare. The competition will five readers the opportunity to win a limited edition pink Smart car, worth £8000, and raise money for charity at the same time.
Continue ReadingDecisions in the World of Formula 1
With Formula one’s team submission deadline looming, the future of the Jaguar team hung in the balance. That was until today, when Austrian owned drinks company, Red Bull, stepped in and rescued Jaguar from motorsport extinction. The new Red Bull Racing team’s tyre choice remains unclear. At the same time as selling the Jaguar team, Ford has also sold engine manufacturer and Formula 1 supplier, Cosworth, to Mr Kevin Volkhoven, known for his associsiton with the Champcar series. Cosworth will supply Red Bull Racing with engines, while Minardi will receive identically constructed engines. Minardi however, will use old Cosworth engines for the first four races of next season. Jordan, a team that also had a question mark over which manufacturer would supply its engines, will now be supplied by Toyota.
Continue ReadingCitroën and Loeb Achieve Aussie Gold
Citroëns 2004 World Rally Championship winner, Sébastien Loeb achieved a record equalling 6th rally victory, in Australia this weekend, in what was the years final event. The original record, which was established by Loebs fellow Frenchman, Didier Auriol, has stood for 10 years. Sébastien took control of the Telstra Rally Australia, on day two of the three day event. With a total of 13 stage wins, more than double any other competitor, Sébastien Loeb and the Citroën team showed their determination to finish the season as they had started - at the top of the podium.
Continue ReadingCar Prices Fall
According to the What Car? Price Index, new car prices have not altered for the last four months. After rises during the first half of 2004, prices are now back to virtually the same as 2003 and the average new car is now 0.1 per cent cheaper than a year ago. The Index also reports that small cars are still leading the way. City cars are 2.8 per cent cheaper and supermini prices have fallen 1.7 per cent over the past year. Family cars are also down 0.1 per cent. The magazine reports that virtually every other class has become cheaper month-on-month. A large price fall was recorded in the plate-change month of September, when prices traditionally rise compared with the quiet month of August. What Car? reports that this year, prices fell, despite a “healthy demand” among private buyers that was only six per cent below that shown in the previous September.
Continue ReadingCabot to Build Chinese Carbon Black Plant
Cabot Corporation has announced it will build a carbon black plant with joint venture partner Shanghai Coking and Chemical Company to build a carbon black plant in Tianjin, China. The first production unit is scheduled to begin production in early 2006, with a capacity of 50,000 tonnes. The company plans to expand the plant’s production capacity later the same year. We are pleased with this expansion of our partnership with Shanghai Coking and Chemical Company and to be working with the Tianjin Economic and Technological Development Area to build a world class carbon black facility. We have confidence that this expanded capacity will position us well to supply the growing China market, said William J Brady, executive vice president and general manager, Carbon Black.
Continue ReadingToyo Prepares Small-Lot Production in US
Toyo Tire has released details of its US production plant, several weeks after laying the foundation stone for the Cartersville, Georgia, production facility. According to Deutsche Bank, the Japanese tyre manuafacturer is going to install a flexible, automated production system which is well suited for small-lot production. This is said to produce better quality products than conventional methods. The company calls the system its Advanced Tyre Operation Module or ATOM. Toyo Tire first announced this production system two years ago and developed the technology with support from Toyota Motor, running pilot production schemes in Japan. The new factory, Toyo’s first US tyre production facility, will cost $392 million and will create up to 900 jobs. The factory will have an annual capacity of two million passenger car and light truck tyres after construction is completed in 2006.
Continue ReadingYokohama’s Income Decreases
In its third quarter Yokohama Rubber saw net sales rise by 4.3 per cent to ¥189.7 billion. The company claims that this reflected “solid tyre sales overseas.” However, net income fell by a massive 51.6 per cent, to ¥719 million. The manufacturer claims that this was due to inventory losses and a loss on devaluation of securities investment. Operating income also declined by 6.3 per cent to ¥4.3 billion, and has been put down to the increase in prices of natural rubber and other raw materials. Yokohama is also citing higher logistics costs stemming from increased export volume and a jump in shipping charges to the decline in income.
Continue ReadingPirelli Announces Improved Figures and New Investments
Pirelli has released results for the first three quarters of 2004 showing a 262 million euro increase in group net income year-on-year. The results also show that its net financial position is -1.9 billion euros. At the same time Pirelli gave details of a Chinese joint venture, a Romanian steel cord plant and three new MIRS plants, together worth 400 million euros.
Continue ReadingStarter Batteries Fail the Test
According to “Stiftung Warentest,“ Germany’s Which? equivalent, maintenance-free starter batteries promise much but often don’t deliver. Recently published battery test results shed a poor light on the 16 products tested. Of these only three reached the second-best mark, none was tested “A“. In particular the testers criticized the standards of battery capacity, which was generally not as good as indicated. Out of the 16 batteries tested, four that failed. The cheapest two batteries (each costing 41 euros) receive the worst results. By far the best battery was the “Power Bull“ from Banner, Austria. Moll’s “Kamina Start“ came second with Arktis’ “Qualitätsbatterie“ taking third place.
Continue ReadingEuropean Vehicles Unreliable
An annual survey carried out by US magazine, Consumer Reports, has found that when it comes to car and truck reliability, European produced vehicles are worst; US mixed, with Asian brands topping the table.
Continue ReadingDeldo’s Count-Tronic
In a slight diversification from its core wholesale business, Deldo is promoting its new “Count-Tronic” system. During the last year the company says it has been testing different tyre counting systems in cooperation with an external development company. According to the Belgian wholesaler, the results were clear and Deldo chose to use and license the Count-Tronic system. The Count-Tronic is designed to count every load with an electronic eye, which is subsequently followed up with a computer. This data is then saved making it possible to produce a print-out for each load. Deldo believes that this technological development means it can provide an improved service and that the chances of incorrectly counting loads is now “non-existent.” Deldo’s Phillip Delcroix told Tyres & Accessories that the counting system works “very well” and that as a result the company sees itself as “the benchmark in accurate loadings. The company also reports that many of it clients and suppliers have become familiar with the system and are now also interested in buying it.
Continue ReadingEmerging From The Haze
China’s rich culture and long history make it one of the most fascinating and legendary countries in the world. After a few days of travelling in China, the differences between east and west become obvious. Some things are similar to what we experience in our everyday lives in Europe, other things are vastly different. One fact is apparent, there is a Great Wall of China sized gap in Western countries’ understanding of this enormous nation. Subscribers to Tyres & Accessories can read online or download the supplement by clicking "more."
Continue ReadingRMA Rejects Federal TPMS Proposal
Through the collective voice of the US Rubber Manufacturers Association (RMA) the American tyre industry has registered its “strong opposition” to the proposed federal TPMS regulation, saying: “It may create a false sense of security among consumers.” According to the association, the rule, proposed by the NHTSA, does not meet the government’s objective of improving consumer safety. Instead the association warns that the rule in its current format may increase the risk of tyre failures. The proposed rule would mandate that every car, SUV, pickup truck and minivan be equipped with a tyre pressure monitoring system that warns drivers when tyre pressure is 25 per cent below the vehicle manufacturer’s recommended inflation pressure. The RMA warns that a 25 per cent drop in a tyre’s recommended pressure would still leave the tyre in an unsafe condition. In a statement released by the association the RMA suggested that under the proposed standard, “motorists could be driving for thousands of miles on tyres that are appreciably under-inflated but still not receive a warning.” “A tyre pressure monitor that doesn’t provide a timely low-pressure warning to motorists will not enhance safety,” Mr Shea commented adding: “A tyre pressure monitoring system is meant to supplement, not replace, regular tyre maintenance by consumers.” The RMA supported its argument with the results of research it conducted in 2003. It found that nearly two-thirds of US motorists would be less likely to check their tyre pressure regularly with a TPMS-equipped vehicle. Other criticisms put forward by the RMA include: The fact that the TPMS would not be required to be tested at speeds of above 63 mph; at temperatures below freezing or above 40 degrees Celsius; during turning and braking manoeuvres; or on secondary roads. The RMA also criticised the suggestion that the TPMS system would not be required to work with replacement or full-size spare tyres. “In short, it is contrary to NHTSA’s mission to promote highway safety to promulgate a TPMS standard that may create a false sense of security among consumers about an issue as important as tyre inflation pressure,” the RMA said stating, “our intent is to work with NHTSA to get this regulation right and to get it done soon,” said RMA president and CEO, Donald B Shea, said.
Continue ReadingPlea for MOT Privatisation
A long-running civil strike in Northern Ireland, that began earlier this year, has had a “devastating effect on the industry,” say market representatives. The dispute has had adverse affects on the operations of the Driver and Vehicle Testing Agency Northern Ireland (DVTA) which handles all MOTs and HGV tests and there is call to privatise all vehicle testing.
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