Danish wholesaler expands in Germany
Danish wholesaler, NDI is proving popular in Germany having opened its second retail outlet in five months. Founded by Benny Kristensen, the company now has stores in Dortmund and on the outskirts of Hamburg. Managing Director, Michael Andre claims the company´s success will be based on meeting NDI´s next day delivery service. The Danish firm has also enlisted the services of Hamburg-based off-road expert, Viggo Meyer-Bernitt, as the firm continues to develop its share of the off-road tyre market.
Continue ReadingBritain Outperformed European Markets
The UK continues to lead the way in car sales as dealers throughout Western Europe enjoyed a mild recovery in March. Early sales trends show Britain outperformed other European markets with new registrations for the UK up by 11 % this year. A total of 466, 955 cars were sold in Britain during March. The German car market enjoyed a recovery with sales figures up 8 % to 345,000 units sold while France also saw an improvement of 5.6 % on the previous twelve months. Renault and Ford made the most significant gains within the UK market during March while Volkswagen topped the European market with an increase of 13 % as predicted by market watchers following discounts offered on the new Golf.
Continue ReadingNew Mexican Factory For Superior Industries
Superior Industries is to build a new wheel-manufacturing plant in Mexico, with construction starting this year and production beginning in mid-2006. Mexico was chosen because of cheaper labour costs, although the factory is expected to have a high degree of automation. Estimated cost of the plant is $60-80 million and it will have an annual production capacity of 2.5 million wheels.
Continue ReadingGoodyear’s Lenders Extend Deadline
Goodyears lenders under its principal US and European credit facilities have amended the terms of the facilities to extend until May 19 the companys deadline for filing its 2003 Annual Report on form K-10 with the Securities and Exchange Commission. As such, Goodyear will be able to access the credit facilities or obtain letters of credit, despite the delay. The company originally said that it would file its 2003 K-10 and amended 2002 K-10 by mid-May.
Continue ReadingSolberg Wins NZ Rally On Pirelli
Petter Solberg won the three-day New Zealand Rally in his Pirelli-shod Subaru Impreza, after taking the lead on the first day. He and teammate Mikko Hirvonen (who finishes 7th) both used the new KP tyre from the P Zero range, with KP4 tyres in the mornings, when conditions were variable, and changing to harder K2 tyres in the afternoon. Solbergs winning margin after the 395-kilometre rally was six seconds and he now trails WRC leader Markko Martin by three points.
Continue ReadingMichelin Apollo Unveils New Commercial Tyre
Michelin Apollo Tyres Pvt Ltd, the Indian joint venture between Michelin and Apollo Tyres, has introduced a new truck and bus radial tyre for the Indian market. The tyre, which features both Michelin and Apollo trademarks on the sidewall is currently imported, although it is anticipated that the tyre will be made in India by 2005. Mr. Herve Dub, who will become CEO of the jv company in May as part of a seven-member board (four members from Michelin, three from Apollo), described the two trademarks on the tyre as a concrete demonstration of the partnership between Apollo Tyres and Michelin.
Continue ReadingMRF Tops JD Power Study
In India, MRF has topped a JD Power study on OE tyre customer satisfaction for the third year running. More than 1,500 owners took part in the study, assessing tyres on 20 different attributes. Bridgestone, JK Tyre and Goodyear were behind MRF in the ratings. This years study was the first to deal solely with radials, as these account for nearly all tyres fitted to new passenger cars in India. The survey also revealed that more than 20 per cent of new-vehicle buyers choose the brand of tyres fitted on their new car.
Continue ReadingDana Corporation elects Samir Gibara to board
Samir G. Gibara, former chairman of Goodyear Tire & Rubber Company has been elected to the Dana Corporation Board of Directors. In addition to his Dana Corporation appointment, Gibara serves on the board of directors of Sumitomo Rubber Industries and International Paper.
Continue ReadingSuperior Industries First Quarter Results
Wheel manufacturer Superior Industries has released its first quarter 2004 results. Turnover was up 10.7 per cent to an all-time high of $234.19 million. Net income fell to $13.667 million, compared with $22.266 million in 1Q 2003. Superiors aluminium suspension components business made a loss of $2.9 million, while the companys share of profits from its wheel manufacturing joint venture SUOFTEC in Hungary was $2.17 million, due largely to the favourable currency exchange rate.
Continue ReadingGoodyear Dunlop to purchase Swedish retail chain
Goodyear Dunlop Tires Europe has strengthened its position in Scandinavia with an agreement to buy the outstanding shares of one of Swedens major retail tyre groups, Däckia. The company expects to complete the purchase of the chain by the end of June. Goodyear Dunlop currently owns 50 per cent of the shares with the remaining being primarily owned by Procuritas (26%) and Däckia management (24%). Financial terms of the deal were not disclosed. Däckia has more than 60 company owned stores, as well as 31 contract partners in cities throughout Sweden, with annual sales revenue of approximately $65 million. Däckia is widely regarded as one of the most successful tyre retailers in the Nordic Region.
Continue ReadingCooper’s 1Q Results “Will Be Higher Than Expected”
Cooper Tire & Rubber has said that its earnings per share for the first quarter of 2004 will be around 30-34 cents per share; significantly higher than the forecast of 24-28 cents per share. The reasons are higher sales, a strong performance of Cooper-Standard Automotive and a smaller than expected impact of raw material prices. Coopers full 1Q results will be released on April 22nd.
Continue ReadingHands-On Experience For Motor Show Visitors
Rather than just admire new car models on exhibitors stands, visitors to the Sunday Times Motor Show Live (May 27 to June 6 2004 in Birmingham) will be able to put them to the test on a specially-designed outdoor circuit. The course simulates city driving, with tight turns and junctions, and drivers will be accompanied by a co-driver to answer questions and give advice. To take part in the free Taster Test Drive, visitors need to show a current driving licence when booking their slot. Latest vehicles from the following seven manufacturers will be available to drive: Daihatsu, Honda, Hyundai, MG Rover, Nissan, Subaru and Vauxhall.
Continue ReadingKleber Assistance Offers Peace Of Mind
Kleber has launched a new roadside assistance service for buyers of any car tyre from its range. Kleber Assistance is available free to drivers who purchase Kleber tyres. It offers three years free cover against tyre-related breakdowns and includes vandalism, punctures or any other type of accidental damage. The service operates 24 hours a day, seven days a week and assistance is provided within one hour, anywhere in Europe. If the tyre cannot be repaired at the roadside and the spare wheel is unusable, the vehicle will be taken free of charge to the nearest garage where the tyre can be replaced at the drivers expense. In the event of no garage being open the vehicle and occupants will be taken to a place of safety such as a hotel or the drivers home if nearer. Although new to the UK, Kleber Assistance has been running in parts of Europe for some time.
Continue ReadingGoodyear To Close Nebraska Warehouse
Goodyear Tire & Rubber Co. will close a warehouse and distribution centre in Lincoln, Nebraska by the end of the year, eliminating about 160 jobs. Goodyear spokesman Skip Scherer said the closure was to improve customer service and has nothing to do with the recent announcement that Goodyear will reduce its reported profit for the past six years by an additional $65 million because of improper accounting.
Continue Reading11th Director For Goodyear
Shirley D. Peterson (62) has been elected to the Board of Directors of the Goodyear Tire & Rubber Co. She is the 11th member of the board, 10 of whom are independent. Peterson spent 20 years as an attorney then, in 1989, was appointed Assistant Attorney General, Tax Division at the U.S. Department of Justice. In 1992 she was appointed Commissioner of the Internal Revenue Service by President George Bush. In 1995, Peterson was named president of Hood College in Frederick, Maryland. Goodyears chairman and CEO Robert Keegan praised Petersons record in business, government and academia, saying: She will make important contributions to our board.
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