New tyre plant for Wales
A sports car tyre retreading business has been launched in Wales. Maxsport Competition Tyres is to create up to 25 new jobs at its new tyre retread facility in Rhayader, Powys where it plans to eventually retread more than 50,000 tyres a year, primarily for the motorsport and off-road vehicle markets in Europe and Asia. The company, which has invested more than £1m in a 37,000 sq ft unit at the towns Brynberth Industrial Estate where it currently employs nine people. Maxsport Competition Tyres is part of the Treble B Group based at Caterham, Surrey, which distributes new and retreaded tyres throughout the UK and has depots in England and South Wales. The group plans to open a new storage and distribution facility in Rhayader in the future.
Continue ReadingIs Volkswagen keen on Ferrari?
Resulting from a co-operation between the car manufacturers Volkswagen and Ferrari could be an involvement of the Germans in the Italian sports car manufacturer, which also owns Maserati. Should Fiat need more money in order to emerge from its own crisis Volkswagen could be ready for a take-over if the price for Ferrari is right. So writes the German online service Der Spiegel-Online. In the meantime Volkswagen denies the news as an “absolute speculation”.
Continue ReadingAll round Dunlop for SUVs and Light Trucks
Dunlop has announced a new, multiple application tyre targeted at the multi-purpose usage engaged by sport-utility vehicles and light trucks. The new Dunlop Rover RVXT is an all-terrain performance tyre carries the Rubber Manufacturers Associations standard that designates tyres designed for use in severe snow conditions. The Rover RVXT is labelled with the mountain-and-snowflake symbol on the sidewall to distinguish its capability as a winter tyre. A key benefit for Dunlop dealers is the consolidation of two existing product lines - the Dunlop Rover RV and Rover P-Metric - as the new Rover RVXT hits the market. The new line offers 31 sizes, ranging from 15-inch to 17-inch rim diameters. The Rover RVXTs tread pattern features a rugged, four-rib design to provide excellent on- and off-road performance. The tread has deep lateral grooves that provide extra traction in tough conditions, and circumferential grooves that assist in channelling water away from the tyres contact point patch with the road surface.
Continue ReadingAmtel is sole holder of Voronezh Tire and Amtel-Siberia Tire Complex
Amtel Holding has become a sole owner of Voronezh Tire Plant and Amtel-Siberia Tire Complex. According to Amtel, it bought out a 25 per cent state-run stake in Voronezh Plant and purchased a similar stake in Amtel-Sibiria from the minor holders to take 100 per cent stock capital of both plants. Amtel has been consolidating assets since 2002. The target is to set up a single public company. Today Amtel owns 89 per cent of the Kirov Tire Works, 100 per cent of Khimvolokno Amtel-Kuzbass and 100 per cent of the carbon black plant at the Volgograd Works.
Continue ReadingWestern Isles install tyre baler
The council of the Western Isles, Comhairle nan Eilean Siar, has introduced a purpose-built tyre baler at its Bennadrove Recycling Centre. This will compress and bale tyres received at its Rueval landfill site. The horizontal baler, manufactured by German company HSM, was modified to specialise in compressing car and lorry tyres into large blocks. Each block contains about 170 tyres and weighs about one tonne. Council spokesman Nigel Scott said the blocks would initially be used as an engineering material for landfill site development works. He added: There is considerable potential for other on-island uses as similar blocks have been used in other areas as a sustainable material for coastal erosion defences, road construction and land stabilisation projects.
Continue ReadingOperating Profit for Hayes Lemmerz emerging from Chapter 11
Hayes Lemmerz International, Inc. has announced that it posted operating income of 51.6 million dollars for the second quarter ended July 31, 2003, these include costs related to the Chapter 11 period. This is a big improvement from a previous years loss of 12.6 million dollars, which also included expenses related to the Companys Chapter 11 reorganization. Earnings from operations excluding these items was 20.4 million dollars in the current quarter, compared with a year earlier loss of 7.2 million dollars. Gross profit margin increased to 11.2% in the second quarter of 2003 from 7.6% in 2002.
Continue ReadingHyosung to invest 110 million US dollars in China
The Hyosung Corporation has announced that it plans to invest 110 million US dollars in building a steel cord plant with annual production capacity of 33,600 tons in Qingdao, China. The joint venture with the Qingdao administration will be named Hyosung Steel Cord Qingdao. The company is planning to inject an initial 50 million US dollars by September next year to produce 16,800 tons of steel cord annually. The investment is being driven by the growing demand by Chinese tyre manufacturers and the countrys expanding auto market. When the new plant is completed, Hyosungs steel cord business will expand to make up 7 percent of the global market and 10 percent of the mainland Chinese market, the company explained.
Continue ReadingGoodyear: Ratification assured
Goodyear has now officially announced the ratification of the labour contract with the members of the Steelworkers, who have announced that they will be using this contract as a pattern for their negotiations with Goodyears competitors. However, this plan is more or less unpromising.
Continue ReadingBridgestone To Re-open Plant Today
The fire-ravaged Bridgestone factory at Kuroiso City in northern Japan will resume limited production today, said corporation president Shigeo Watanabe at a press conference. He added that the shortfall in production would be made up by Bridgestones other Japanese factories.
Continue ReadingWorker Dies In Explosion At Japanese Recycler
A worker was killed and two others injured - one seriously - when a 15m-high furnace exploded at a Japanese tyre recycler. The explosion, at Fuji Recycle in Ichihara, caused a fire that burned for two hours before being extinguished.
Continue ReadingUS Consumer Magazine Rates Pirelli As “Best Buys”
Consumers Digest, a US magazine, has chosen Pirelli tyres as best buys in three categories. The P6000 Sport Veloce was named a premium BB in the All-Season category, the P400 was an economy BB in the Touring category and the Scorpion Zero was an economy BB in the light truck/SUV section.
Continue ReadingBorbet in South Africa
Murray & Roberts has sold 50% of the business of AWI South Africa to Borbet GmbH of Germany, with effect from 1 July 2003 and subject to approval by the competition authorities.
Continue ReadingTitan announces third quarter cash dividend
The Board of Directors of Titan International, Inc. (NYSE: TWI) has approved a quarterly cash dividend of $.005 (one half cent) per common share for the third quarter of 2003. The cash dividend is payable October 15, 2003, to stockholders of record on September 30, 2003.
Continue ReadingGoodyear To Appeal $10 Million Hose Award
A judge in the USA has ordered Goodyear to pay almost $10 million compensation to 34 householders, for a faulty heating hose that was used in their homes. Goodyear, as manufacturer of the hose, and a now-defunct distributor of the product were found equally liable. The actual damages award against Goodyear was $4 million, with a further $5.7 million added in interest from the date of installation of the hose. Goodyear said it will appeal the decision.
Continue ReadingSmarTire signs Chinese distribution agreement in principle
SmarTire Systems has announced that it has signed an agreement in principle appointing Beijing Boom Technology Co. Ltd. as the master distributor of SmarTires Tyre Pressure Monitoring Systems (TPMS) in China. Beijing Boom Technology has agreed to purchase over $1.5 million in additional aftermarket passenger car TPMS systems at fixed intervals over the next twelve months. In order to maintain its status as SmarTires master distributor in China, Beijing Boom Technology must also purchase approximately 3.9 million dollars in additional aftermarket passenger car TPMS systems during the twelve-month period commencing September 1, 2004 and establish a network of certified dealers in all provinces of China by May 1, 2004.
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