Goodyear Eagle F1 performs well in Which? tyre test
Consumer Association magazine, Which? put the leading UHP tyres through their paces recently with the Goodyear Eagle F1 coming top of its category again. A convoy of cars were driven over 6,000 miles each in order to compile the results, with the spotlight turned on performance in both wet and dry conditions, ride comfort, noise creation, rolling resistance and wear. The Which? test saw the Goodyear Eagle F1 competing in the 17 inch category, a tyre that would normally be fitted on sporty versions of cars such as BMW 3 Series, Ford Mondeo and VW Golfs. The extensive testing saw the Eagle F1 given an impressive score of 70 per cent across all categories, with Which? reserving special comment for its grip in both wet and dry conditions, as well as declaring it the quietest in its section.
Continue ReadingFire at Goodyear Philippsburg premises
At 3.00 a.m. this morning a fire broke out at temporary storage facilities at Goodyears Philippsburg plant in South West Germany. Rapid reaction by the emergency services quickly brought the fire under control. No-one was injured during the incident but due to the volume of smoke people were asked to keep doors and windows closed. There was no reported release of toxic chemicals. Some 40,000 tyres were in storage at the time of the fire. Other areas of the plant, including the key Central European storage facility with some two million tyres were not affected by the fire. The extent of the damage and the cause have not yet been determined but distribution is not being affected by the incident.
Continue ReadingContinental Teves refines electronic brake system
The first Electronic Brake System was launched by Continental Teves in 1984. Since then, EBS systems have lost roughly 80 percent in weight and costs have come down as much as 90 percent.
Continue ReadingGoodyear fires three managers in Europe
Goodyear has fired three of its European managers, obviously holding them responsible for what the company calls accounting errors. Scialom (Vice President Finance Europe), McKnight (Managing Director Sales Countries) and his finance manager Loysen have bitten the dust. As far as it is known the three were given no reason for the notice, at this stage. Spokesmen for the group even refused to comment as to whether the three had been fired or had taken retirement. Goodyear is under formal investigation by the SEC and had to inform the public yesterday yet again, that it had found more accounting errors in the US, in the region of 16 million US dollars. Analysts are now concerned that Goodyear could be too busy dealing with these alleged improper actions instead of leading the company into a much needed turnaround.
Continue ReadingMichelin to buy Gajah Tunggal
According to Modern Tire Dealer, quoting Indonesian Newspapers, Michelin is negotiating with Singapore-based Garibaldi Venture Fund Ltd. to take over the tyre company. Garibaldi recently bought the 78 per cent share in Gajah Tunggal released by the Indonesian Bank Restructuring Agency. Gajah Tunggal is expecting sales figures for 2003 to increase by 17 per cent, with a target of a 20 per cent increase for 2004. The companys outstanding debts totalled 550 million US dollars in 2003, and are planned to be repaid over the next six years. Gajah Tunggal is by far the largest Indonesian tyre producer with two factories in Indonesia.
Continue ReadingBandag Declares Quarterly Dividend
The Board of Directors of Bandag, Incorporated, has declared a regular quarterly dividend of 0.325 US dollars per share on the Common Stock, Class A Common Stock and Class B Common Stock of the Company payable April 19, 2004 to shareholders of record at the close of business on March 19, 2004.
Continue ReadingContinental Temic holds key to lower emissions
Continental Temics ISAD system is being seen as the key to lower fuel consumption and less CO2 emissions. ISAD stands for Integrated Starter Alternator Damper, and following the debut of this technology in a General Motors light truck in 2003, the system is to be fitted to another US-built vehicle later this year.
Continue ReadingNF Die Casting (Pty) Ltd. Takes on Hayes Lemmerz identity
NF Die Casting (Pty) Ltd., a South African subsidiary of Hayes Lemmerz, has changed its company name to Hayes Lemmerz South Africa (Pty) Ltd., creating a stronger brand identity connection between the Corporation and its subsidiary. Hayes Lemmerz South Africa (Pty) Ltd., formerly NF Die Casting (Pty) Ltd., is a producer of cast aluminium wheels for the automotive industry. The facility is located in Alrode, near Johannesburg.
Continue ReadingBridgestone invests in South Africa
Bridgestone is to invest 700 million Rand (86 million euro) in upgrading and expanding its Brits tyre manufacturing plant, in North West Province, over a five year period. The investment takes Bridgestones total investment in its South African operation to 1.5 billion Rand (185 million euro). The plant, which makes steel belt tyres for passenger, light commercial vehicles and trucks for the local market, has already seen some 210 million Rand (26 million euro) in improvements over the past two years. The improvements will increase capacity by 26 per cent and enable the production of run-flat tyres.
Continue ReadingTyres to Coke plant proposed
Moncktons Coke and Chemical Company has submitted an application to the Environment Agency to use tyres in its coke manufacturing process. Anticipating a healthy market for used tyres, Moncktons is aiming to become one of the first businesses in the UK to use tyres to make coke on a commercial basis. The company has already conducted successful trials at its plant in Barnsley using 7 per cent crumbed tyres with coal in its carbonising process. The company plans to use up to 20,000 tonnes of tyres a year in its 42 ovens and already has planning permission from the local authority to build a tyre crumbing facility on the site. Upon completion of controlled trials the company has applied to the Environment Agency to widen its Pollution Prevention and Control Permit to cover waste tyres. The company hopes to start using tyres in its coke ovens in autumn 2004.
Continue ReadingNokian still flying high
When Bridgestone bought 19.6 per cent of the Nokian share capital from the then parent company Nokia for 39.17 Euro per share, paying a total of 78 Million Euros, analysts recommended Nokian shares as Hold, saying the fair value was approximately 34 Euro and pointing out that Bridgestone paid a premium on top of this. Investors who did not listen but bought Nokian shares anyway are now much better off. They made a fortune due to the fact that Nokian was able to more than double the share price to the current 71 Euro, giving Nokian a market capitalisation of about 780 Million Euros. Nokian made a turnover of 528.7 million Euro last year and managed an operating profit of 79.1 million Euro, which led ultimately to a net profit of 47.6 million Euro. Nokian Tyres is by far the best earning tyre company in the world.
Continue ReadingWidest Indian manufactured car radial
The ZVRL 265/70 R15-size radial has been manufactured in India by MRF, has met with Fords international standards and come as 100 per cent fitment on the Ford Endeavour, says a release from the company. These Indian manufactured tyres will compete against imported tyres which were the only one available in this sector of the market until now. The development of this premium radial tyre opens up the market for MRF.
Continue ReadingSpecial praise for Michelin’s track record
Michelin has been praised for giving Northern Irelands manufacturing sector a much-needed lift. The French company, which employs over 1,200 people at a plant in Ballymena, has a long-standing partnership with North-East Institute of Further and Higher Education. But it increased its involvement with the official opening of a new technical training centre at the Ballymena-based institutes Farm Lodge campus. The centre, which was given the seal of approval by Employment and Learning Minister Jane Kennedy, has been established to act as a focal point for manufacturing and maintenance engineering training and practices. Specific training in engineering maintenance is delivered within the Michelin Technical Training Centre by Michelin staff, complementing the work of institute lecturers.
Continue ReadingCooper Tire Motorsports brings Mickey Thompson Tyres to the UK
In the sport of drag racing Mickey Thompson Drag Tyres are a force to be reckoned with in the United States. Now, through Cooper Tire Motorsports, Mickey Thompson drag tyres will be available from Avon Tyres Racing and three specialist distributors in the UK.
Continue ReadingHankook considers 500 million dollar Czech plant
Hankook Tire Manufacturing Co Ltd is considering investing up to 500 million Dolars to build a plant in the Czech Republic. This follows the decision of Hyundai to build cars in Slovakia. The area is rapidly becoming the centre of the new European automotive industry. Hankook Tire may be looking at other countries in the region but they are clearly considering the Czech Republic as an option. Hyundai announced on Tuesday that it will set up its factory in the north western city of Zilina, about 30 km from the border with the Czech Republic, where a number of foreign car part makers are already present.
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