Bridgestone Share Boost On Investigation News
Shares in Bridgestone rose 3.5 per cent on the news that the National Highway Traffic Safety Administration (NHTSA) had decided not to re-open an investigation into 27.5 million Firestone Steeltex tyres. Bridgestone shares out-performed the Nikkei index in Tokyo, which rose 2.1 per cent to break through the 9,000 barrier for the first time.
Continue ReadingBridgestone Gains Ground In OE
Bridgestone Europe is best-known as a supplier of high performance tyres, thanks largely to its presence in Formula 1, but the company has reported that it is gaining OE business in all sectors of the car market, from micro cars to off-road vehicles. The latest OE successes for Bridgestone include the Peugeot 307 and Land Rover Freelander.
Continue ReadingBentley Wins At Le Mans
History was made at the Le Mans 24 Hour race, with Bentley Speed Eights coming first and second - the first time since 1930 that Bentley has been on the podium. Guy Smith drove the car over the finishing line - the first time he had finished a Le Mans race, in contrast to team-mate Tom Kristensen, for whom this years victory made it four in a row. The drivers paid tribute to the Michelin tyres, saying that they played a big part. Bentleys victory ended three years of domination by Audi, who had to settle for third and fourth this time around.
Continue ReadingMystery Seller Of Conti Shares
Continental A.G. has said that it cannot give any information concerning the identity of the seller(s) of 1.5 million of the companys shares last week. These were sold on Wednesday at 18.4 Euros per share and, when news of the sale leaked out, shares in Continental fell by 0.4 per cent to 18.33 Euros. Traders believe that the seller may have been a fund.
Continue ReadingStapleton’s joins Fit4Fleet
STS Stapleton’s Tyres and Exhausts has joined Fit4Fleet giving the company access to a national account facility. Alan Denton, STS retail manager is pleased that the company has become a member of Fit4Fleet. The partnership is quite natural as our philosophy to customer service mirrored their own. Said Mr. Denton.
Continue ReadingNokian Buys Russian Retreader
Nokian has purchased the Eurobandag retreading plant, situated in St. Petersburg, Russia. Last year, net sales at the plant totalled 0.5 million Euros and the factory retreaded 2,000 truck tyres. Nokian is also re-arranging its retreading materials operations, bringing together the personnel employed at its Vianor retreading plants in Finland, Sweden and Norway under one profit centre.
Continue ReadingOhtsu Name To Disappear As Merger With SRI Is Completed
The merger between Sumitomo Rubber Industries and Ohtsu Tire & Rubber, which began in late 2001, is now complete, making SRI Japans second largest tyre manufacturer. The move will see the disappearance of the Ohtsu name as its activities are integrated into the new holding company Falken Tire Trading in an attempt to generate new synergies and reduce costs. Falken tyres will continue to be marketed independently and compete with other brands within the SRI group.
Continue ReadingSmarTire Systems Improve Third Quarter Revenues
SmarTire Systems Inc. the leading developer of tyre pressure and temperature monitoring technology, has announced results for the third fiscal quarter ended April 30, 2003. Gross revenue for the third quarter totalled 638,323 US Dollars, an increase of 234,393 US Dollars or 172% over the same quarter in 2002. Year-to-date revenues for 2003 of 1,182,674 US Dollars represent an increase of 52% over 2002 revenues of 779,687 US Dollars. SmarTire recorded a quarterly net loss of 1.54 million US Dollars or loss per share of 0.06 US Dollars compared to a net loss of 1.51 million US Dollars or loss per share of 0.09 US Dollars for the same quarter last year.The positive revenue results achieved during the third fiscal quarter reflect SmarTires continued success in establishing a distribution network that penetrates global markets at the original equipment manufacturing (OEM) and aftermarket levels with new and existing products, says Robert Rudman, President and Chief Executive Officer of SmarTire Systems.
Continue ReadingAre You Web-Wise?
An internet site has become the latest must-have for companies today, but are you making the most of yours? Is it doing what you want it to? Indeed, is it doing anything to help your business? Whether you use your site to transact business, or merely as a provider of information, could you make any improvements?
Continue ReadingPoles Apart
Batteries have virtually become a fit and forget product, but the fast-fit shouldnt forget that they represent a great opportunity for additional profit. Which batteries to choose? Which companies give the most help when it comes to deciding which battery is right for your customer? We take a look at whats on offer; both products and after-sales service.
Continue ReadingTyre dumper jailed
The law finally caught up with a Yeovil man on the 10th June, after he dumped hundreds of tyres in the Somerset countryside using a bogus tyre disposal company. The case was brought by the Environment Agency.The fly-tipping activities of Mark Higgins first came to light in 1999 when the Agency received complaints from members of the public about scrap tyres abandoned on roadsides and other land in Somerset, Dorset and Devon. Appearing before South Somerset Magistrates in January 2003, Higgins, pleaded guilty to three offences of dumping controlled waste under Section 33(1)(a) of the Environmental Protection Act 1990. On, June 10th, Mark Higgins was sentenced by Yeovil magistrates to three months in prison for each of three offences to run concurrently.
Continue ReadingMaking The Earth Move
Earthmover and Off The Road tyres make up one of the most specialised sectors of the tyre industry. These tyres can cost thousands and the machines they are on tend to work in unfriendly locations and environments - massacre conditions as some working conditions are described. For these operators, time is money and downtime costs them dear, so any tyre trouble needs clearing up - fast. From the service providers point of view, this could cause problems, as you dont get these tyres off the rim with a couple of tyre levers …
Continue ReadingCooper-Standard Automotive controls Jin Young Standard
Cooper Tire & Rubber Companys Cooper-Standard Automotive has increased its ownership position in Jin Young Standard of South Korea from 49 to 90 percent and has changed the name of the company to Cooper-Standard Automotive Korea, Inc.This transaction will give Cooper-Standard Automotive a significant presence in Korea through a well-established company, and will facilitate the expansion of its automotive sealing operations in the growing Asian automotive market. Dug Soo Kim, president of Jin Young Standard prior to this transaction, will continue to head the companys operations.
Continue ReadingThailand bans used tyre imports
Thailands Commerce Ministry has said that it will impose a ban on imports of used tyres from 29th July in a bid to prevent any negative impact on the environment and human health. The ban covers imports of used tyres for passenger cars, buses, trucks, bicycles and motorcycles, including parts of tyres for these vehicles, the statement said. The ban wont cover tyres which are attached to imported vehicles or those imported for research purposes.
Continue ReadingSurvey shows popularity of mobile fitting
AA Tyre Fit carried out a survey of 50 randomly chosen drivers who had used the companys mobile tyre fitting service within the previous 60 days. 21 of the respondents were fleet customers, the remainder retail.86 per cent said they would use mobile fitting in preference to visiting a fast-fit centre, while four per cent preferred the latter. The reasons given for preferring mobile fitting were more convenient and it allows me to make more efficient use of my time. Location of mobile fitting was split almost equally between home, office and roadside.The findings came as no surprise to AA Tyre Fit General Manager David Goodyear, who said: Customers have a perception of fast-fit centres as dirty and unpleasant places where they can spend an hour or more hanging around while their new tyres, which are nearly always a distress purchase, are fitted.
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