11th 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.
Continue ReadingCooper Vice President To Retire
Mark Armstrong is to retire in May as Vice President of the Cooper Tire and Rubber Co., after 26 years service. Chairman, President and CEO Tom Dattilo described his contributions as crucial to the development and implementation of the companys strategy and in providing direction for the company. Armstrong joined Cooper as a Territory Manager and held various sales and marketing positions until his appointment as Vice President, responsible for global sales and marketing.
Continue ReadingPirelli To Increase Prices In Europe
Pirelli has announced that it is to increase prices of tyres in all European markets, due to considerable and unexpected increases in the cost of raw materials. The increases will be between four and five per cent and will come into effect by June this year.
Continue ReadingGood Figures From Alliance
Alliance Tire has reported a 6.6 per cent rise in turnover in 2003 to US$99.7 million. Gross profits were $20.4 million (2002: $3.1 million) while the operating profit was $1.23 million, following three years of losses, including a deficit of $14.9 million last year. Alliances net loss in 2003 was $13.1 million, which is half the 2002 figure and largely attributable to currency differentials. President Joseph Anglister said that the company had achieved a major break-through in South America, with sales up 158 per cent.
Continue ReadingObituary – Sakip Sabanci
Sakip Sabanci passed away at 6:00 am on Saturday 10th April, following a long battle against cancer. He was 71. As head of the Sabanci group, he presided over the establishment of Lassa in 1974 and the later joint venture with Bridgestone in 1988, as a result of which the company name changed to Brisa. A new factory was built at Izmit and production began in November 1990. Married with three children, he was the author of 13 books and, during his lifetime, was awarded no fewer than 11 honorary doctorates by Turkish and US universities. Other awards include the Crystal Globe by the European Economic Institute and the Turkish State Distinguished Service Medal. In 1999 Sakip Sabanci was elected Businessman of the Year by the FABSIT foundation in New York and was given the Award for promoting Turkey by the Turkish-American Businessman Association. With an estimated fortune of 2.65 billion Euro, he was reckoned to be Turkeys richest man.
Continue ReadingFirestone Pulls Through
An article in the Detroit News holds up Firestone as a prime example of the never say die school. At the time of the tyre recall, the Firestone brand was considered by many to be dead in the water, but the companys latest research shows that theres life in the old dog yet. First quarter replacement market sales are up 15 per cent for passenger car and 28 per cent for light trucks against 1Q 2003 figures. Market share has stabilised at 7.2 per cent, which is lower than the 1999 figure of 10.2 per cent, and the company says it is gaining consumer sales. As an indication of this new sense of optimism, the advertising budget has been quadrupled to $18 million and the first brand campaign in four years - including TV slots - is running. The adverts feature Firestones memorable where the rubber meets the road slogan (last used in 1988) and include an appearance by the famous racer Mario Andretti.
Continue ReadingUK Police Pick Goodyear Dunlop
Goodyear Dunlop has been chosen as tyre supplier to UK police forces for the next three years. Goodyear first secured the contract in 1994 and the new deal means that around 100,000 Goodyear and Dunlop tyres will be fitted to police cars, vans and motorbikes for each of the next three years.
Continue ReadingGoodyear Net Income Reduced
Goodyear has said that its net income figure for the past six years will be reduced by $65 million, due to improper accounting and other reasons. The improper accounting figure - most of it in Europe, and for which several senior managers have been disciplined - comes to $10 million and the remaining $55 million is attributed to workers compensation claims, product liability, profit elimination in inventory and other items.
Continue ReadingAffordable High Performance For US Market
When it comes to the Boy Racer sector, the American model differs little from his European counterpart - both want a tyre that looks good, performs well but is affordable. To cater for this, Michelin in North America has introduced the BFGoodrich g-Force Sport. It will be available in 21 sizes for wheels up to 18, although larger wheel sizes are planned.
Continue ReadingTitan Europe admitted to trading on London’s AIM Exchange
Titan Europe Plc, previously a wholly-owned subsidiary of Titan International, has been admitted to trading on the AIM market in London. The placing shares have been priced at 125 pence, with 26,775,000 shares offered.
Continue ReadingThe 4×4 tyre market: still growing
Back in 1990 or thereabouts Pirelli had just bought Armstrong and were busy launching their own 4x4 range and relaunching the Armstrong Tredloc Kevlar belted tyre for the 4x4 market. The motoring press was busy telling the world that the 4x4 sector had peaked and would be on the decline by the following year. So much for the crystal ball gazing of the motoring press. Today the 4x4 sector holds some 5 per cent of the UK market share – it may seem more as most 4x4 vehicles have a longer shelf life that their conventional counterparts, so probably hold a slightly larger share of the overall car parc. It would be interesting to know what the DVLA figures would be on that enquiry. Throughout Europe there is no let up in the demand for 4x4 vehicles – even in markets where an off-road excursion could find the driver in serious trouble with the law. The 4x4 has developed from a serious tool for the military and agricultural sectors to a plaything and fashion symbol for the wealthy and the aspirational. Figures from Goodyear show that the utility sector of the market, the pick up and hard core 4x4 enthusiast has hardly shown any movement over the past four years, nor is it expected to in the coming years. The value market has dropped to a steady level at 90,000 units per year across Europe, the middle market too is stable. However, the luxury and crossover sectors of the SUV market are starting to show tremendous growth with the luxury sector doubling its volume from the 2000 figure of 101,000 units by 2007 whilst crossover vehicles will quadruple their volume in the same period it is these two sectors almost alone that will take the 4x4/SUV market from its current 706,000 units per annum to 840,000 units per annum by 2007. In tyre terms this reads as growth in every sector – winter, S and T, and H and V rated, the market volume jumping from a total of 2,089,000 units in 1997 to 7,885,000 in 2007. The two largest markets in Europe for 4x4 tyres are the UK and Germany, followed by Spain, Italy and France each having in excess of 10 per cent of the market. Scandinavia, Benelux, Switzerland, Greece, Portugal and Austria each have shares between 2 and 7 per cent of the market. With the whole of Eastern Europe taking only 4 per cent of the sector. That 4 per cent for Eastern Europe suggests that, as with other sectors of the tyre market, the developing markets in Eastern Europe offer a phenomenal capacity for growth in this sector. In fact, if the move to car ownership in the East matches that ion the west, then the ultimate volume of the market could make Goodyear’s figures appear conservative.
Continue ReadingGoodyear launches HydraGrip
Goodyear has introduced HydraGrip, a new high performance summer tyre, specially developed for rainy and wet weather conditions. With its innovative DynamicDrain TRED technology HydraGrip provides unrivalled wet braking and aquaplaning safety without compromising its performance on dry roads. Goodyear customer research has shown that in Europe safety is the primary concern of drivers of medium and large high performance and family vehicles, especially in rain and wet weather. No matter where you drive in Europe, you are facing a lot of rain: according to the yearly weather statistics it rains in Brussels, Frankfurt, London, Paris, Warsaw and Stockholm three out of five days, even cities like Athens, Madrid and Rome have almost 100 rainy days per year. European drivers across the continent have to drive an average of 141 days per year on wet roads. “Accidents happen especially when it starts raining after a dry period – a situation that demands high performance both from tyres and drivers. Therefore it is no surprise that 70 per cent of European drivers want tyres that behave particularly well on wet roads,” explained Paul Joosten, marketing director Goodyear brands Europe, Middle East and Africa in Mireval, when launching the HydraGrip. “Our goal was to develop a tyre that provides optimal safety in the quickly changing European summer weather with its alternate heavy rainfall and dry periods. After millions of tested kilometres and three years of development at Goodyear‘s Research and Development Centres in Colmar Berg, Luxembourg, we now proudly introduce a tyre that sets new standards for high performance summer tyres,” added Joosten. Thanks to its unique DynamicDrain TRED technology HydraGrip provides excellent side grip and lateral stability, coupled with an unrivalled performance in emergency braking and resistance to aquaplaning. “HydraGrip gives drivers the all around performance and safety that they demand in extreme wet conditions,” said Joosten. The new DynamicDrain TRED technology is a combination of highly sophisticated technology features such as 3D-BIS technology, cascade blading and V-TRED design with a specially developed high performance tread compound. In Detail: Goodyear‘s patented Three Dimensional Block Interlocking System (3D-BIS), well-known from successful Goodyear winter tyres, significantly improves the tyre’s wet and dry handling performance because it allows an increased number of blades in the tyre compared with traditional bladed tyres. This technology equips the tyre with as many biting edges as possible to provide excellent behaviour in aquaplaning and on wet roads while at the same time preserving the precise and dynamic handling characteristics of a high performance tyre with its stiff solid tread blocks. HydraGrip‘s 3D-BIS technology also increases the blade length with worn tyres and therefore improves the tyre‘s wet performance during the whole tyre life.
Continue ReadingBridgestone extends motorsport involvement
Bridgestone Corporation has announced plans to supply tyres to competitors in a sweeping range of motorsport events in 2004. Bridgestone technology has helped the worlds best racing teams win in Formula One and in other motorsport series, and we are determined to help them keep winning, declared the companys CEO, Shigeo Watanabe. Winning ways continued for Bridgestone in Formula One in 2003. The companys Potenza tyres carried Michael Schumacher and Ferrari to the drivers and constructors season championships. Bridgestone tyres have now been first across the finish line in a total of 79 F1 races. In the 2004 F1 season, Bridgestone will again supply tyres to world champions Ferrari and to three other teams. That means that eight machines will be racing on Bridgestone Potenza tyres. The 2004 season got under way on March 7 with the Australian Grand Prix. This years F1 calendar features 18 races, culminating in the Brazilian Grand Prix on October 24. IndyCar control tyre Bridgestones Firestone brand will again be the sole tyre brand in the IndyCar Series, formerly known as the Indy Racing League. That racing series will include the Bridgestone Indy Japan 300 Mile at Japans Twin Link Motegi circuit on April 17. Altogether, the 2004 IndyCar Series will comprise of 16 races. Domestic series too Japans premier open-wheel racing series, Formula Nippon, will be another showcase for Bridgestone tyres in 2004. This years Formula Nippon series will consist of nine events, including a race at Malaysias Sepang Circuit. Teams race on tyres from multiple manufacturers in the Japan GT Championship. But competitors equipped with Bridgestone tyres won seven of the eight races in the GT500 class of that series in 2003. The 2004 Japan GT Championship series will comprise of seven races. Bridgestone will also supply tyres for other Japanese auto racing series, including the Japan Gymkhana Championship, the All Japan Dirt Trial Championship, and the All Japan Rally Championship. And on two wheels Motorcycle racing also remains an important emphasis in Bridgestones motorsports program. At the pinnacle of motorcycle racing is the MotoGP series, and Bridgestone began supplying tyres to competitors in that series in 2002. The company will concentrate its support for grand prix motorcycle racing exclusively on MotoGP competition in 2004. A Bridgestone-equipped rider mounted a MotoGP victory podium for the first time in 2003. That was when Makoto Tamada achieved a third-place finish in the 12th race of the season. After supplying tyres on just one MotoGP works team in 2003, Bridgestone will provide tyres to three works teams in the 2004 season. Those teams will be racing a total of five machines. In motorcycle racing besides grand prix events, Bridgestone will furnish tyres for the All Japan Road Race Championship, the All Japan Motocross Championship, and the AMA Supercross/National Series.
Continue ReadingTyrexpo Asia Review
The highlights and headlines from Tyrexpo Asia. The show hit the headlines in the Far East as it signalled the rise and rise of the Chinese tyre market. The show has grown by 25 per cent since the previous event and there is every sign of it growing further still. Singapore has long been at the crossroads of international trade, it seems set to retain that role form many years to come.
Continue ReadingTyre Industry Update
Continental has reintroduced its annual industry review and we will bring you a full report on where Continental sees the state of the UK tyre industry and its role in the market.
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