Nissan Clears Debts – Operating Margin Best In Industry
Three years ago, Nissan had debts of 2,100 billion Yen ($17.4 billion) but the company has recently announced a cash surplus of 8 billion Yen. Last years operating profit was a record 737 billion Yen (5.5 bn Euros); an increase of over 50 per cent. Net profit was up 33 per cent, at 495 billion Yen (3.7 bn Euros). In addition, Nissans operating margin of 10.8 per cent is the highest in the industry. Chief Executive Carlos Ghosn forecast higher operating profits and increased unit sales for the year ahead.
Continue ReadingCurrencies Affect Michelin 1Q Sales
Michelins first quarter sales fell 4.9 per cent year on year to 3.655 billion Euros. This was due to a strong negative effect (-10 per cent) due to the weakness of currencies in North and South America versus the Euro. Sales volumes rose, but income fell in passenger car/light truck (-4.9 per cent), heavy truck (-0.9 per cent) and other segments (-5.4 per cent). Despite these figures and a predicted decline in markets, financial analysts regard Michelin as well positioned to make progress, although lower profits for 2003 are forecast.
Continue ReadingAnalysts Upgrade Ford, Downgrade GM
Industry analysts Goldman Sachs have upgraded Ford to In-Line and downgraded GM to Underperform. This follows better-than expected first quarter profits from Ford – net income was $896 million, compared to a loss of $1.1 billion in 1Q last year. GM has warned that it might not meet its profit target this year.
Continue ReadingGoodyear Dunlop UK Announces Intention To Restructure
Goodyear Dunlop UK Limited has begun a consultation process with the unions and public authorities regarding the restructuring of its UK Sales Operations at Tyrefort, Birmingham. Andreas Niegsch, General Manager, said the move was necessary to become a more flexible, dynamic and responsive organisation in a highly competitive marketplace. He added that the restructuring would mean job losses, with up to 116 associates affected at Tyrefort and 100 in field operations. The consultation process is scheduled to run for 90 days.
Continue ReadingContinental UK Finance/IT Director
In the UK, the Continental Tyre Group has appointed David Smith as Finance and IT Director. He joined the company in January from Hayter Limited, where he was Finance Director. He replaces Mike Potter, who is retiring after 31 years with Continental, the last 24 of which were as Finance Director.
Continue ReadingVW In Board Shake-Up
Bernd Pischetrieder, VWs chief executive, is to reorganise the companys board. This follows the recent departure of sales and marketing director Robert Buchelhofer after VW announced a profits warning, leading to a fall in the companys share price. Mr. Pischetrieder has assumed responsibility for sales and marketing and may not appoint a successor to Mr. Buchelhofer.
Continue ReadingOhtsu And Sumitomo Confirm Merger
Ohtsu Tire & Rubber is to merge with its parent company, Sumitomo Rubber Industries, from 1st July. Falken brand products will be marketed independently in competition with other SRI group brands. The company ex pects growth in Falken sales and improved product supply due to synergies in all areas from production planning through to logistics.
Continue ReadingFirst Stop BDM
Neil Cleaver has been appointed First Stop Business Development Manager, covering the Midlands. He was formerly a retail account manager for the Royal Mail Group and has extensive experience in marketing, which he intends to put to good use by helping First Stop dealers set up local marketing and promotional campaigns.
Continue ReadingHankook Technical Truck Manager
Steve Manuel has joined Hankook UK as Technical Truck Manager, in which capacity he will be working alongside Barrie Horrocks. Steves career began over 20 years ago at ATS, then he moved to Central Tyre in Chester as a truck tyre fitter, becoming branch manager in due course. Later he was promoted into Pirelli as a field-based service engineer for the truck technical department.
Continue ReadingHercules director
Hercules Tire & Rubber Company has appointed Bruce Campbell to the newly created position of Director of Commercial Sales. His task will be to develop new business and increase current commercial business with Hercules stockholders, distributors and commercial tyre dealers. Mr. Campbell has an extensive background in the commercial tire business, most recently with TCI/Michelin.
Continue ReadingSunny outlook for Group Tyre
Group Tyre has successfully negotiated with Deldo to become the exclusive UK distributor for the Sunny brand; a tyre for which Deldo has exclusive European rights. Sunny tyres are available in 17 sizes, for wheels up to 17, with new sizes being added as the brand develops. It joins Groups other exclusive offerings of Stunner, Trayal and Eurotour tyres. Deldos decision to choose Group Tyre underlines the latters performance as a national distributor, furthermore, one who has the strength and ability to establish the brand in the UK.
Continue ReadingAlcoa Announces Clean Air Act Agreement in Texas
Alcoa, the U.S. Department of Justice, the Environmental Protection Agency, the State of Texas, and citizens groups have announced a Clean Air Act agreement under which the company will further reduce sulfur dioxide and nitrogen oxide emissions from its Rockdale Operations lignite-fired power generating units near Rockdale Texas. The total effect of Alcoas previous and latest commitments would reduce the companys emissions of sulfur dioxide by at least 52,000 tons per year and emissions of nitrogen oxide by at least 17,000 tons per year.
Continue ReadingHigh Performance Tyres
Cars are getting faster and the high performance tyre sector is one of the fastest-growing parts of the market. Seemingly most of the tyre manufacturers are concentrating their efforts on this sector and reviewing their product mix accordingly. Once only a few manufacturers were active in the hp and uhp segment, now seemingly everybody boasts a performance offering. We take a look at whats available.
Continue ReadingAn Exhaustive Investigation
In our in-depth feature we talk to the major players about the current state of the UK exhaust market and how they see the future panning out. Is the market buoyant, stable or falling? And what about cats - has the much-talked-about boom in replacement cats materialised? We find out.
Continue ReadingTime For A Change
The humble tyre changer - or not so humble if you can afford it - has to be one of the hardest-working pieces of kit in a tyre shop. And it is probably the most vital, so you need something on which you can rely. The fast-fitter needs a machine that can cope with innovations such as PAX and EMT and can handle the seemingly ever-increasing sizes of wheels, preferably without damaging the customers expensive alloys. Is it worth paying extra, or will a basic model do the job?
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