Market Domination By FTM
Fleet tyre management phoenix, FTM, has claimed domination of the UK fleet tyre management market, with coverage, largely exclusive, of 80 per cent of the fleet market. Some 1641 depots and 400 mobile units give FTM the claim to being the largest network of independent tyre retailers serving this market in the UK. Managing Director, Mike Wise, said at the annual dealer conference, that this had been achieved in the face if doubts and criticism from both the industry and press, and against a range of unprofessional business tactics from competing fleet tyre operators. Sir Tom Farmer, speaking as CEO of the Kwik-Fit Group which owns FTM, complimented the team on their success with a business which he couldnt have given away 18 months previously.
Continue Reading“Dakar” Success for BF Goodrich And Mitsubishi
Whilst the fight for victory between the car drivers was exciting right into the final stage of the Paris Dakar rally (the winner was Hiroshi Masuoka, second place went to Jutta Kleinschmidt). The tyre supplier to Mitsubishi was not to be beaten – the first eight vehicles were fitted with BF Goodrich tyres.
Continue ReadingFord On The Floor: 35,000 Have to Go
William Clay Ford has presented his restructuring programme which he hopes will lead the car giant out of crisis. The company wants to reduce the workforce by 35,000; 22,000 of which will be in the USA. None of the redundancies will affect German (or UK) Ford operations. Ford told journalists in Detroit that he wants to reach profits of $7bn by the year 2005. But first Ford has to make provision for $5bn in restructuring costs.
Continue ReadingOpel: The General Motors Problem Child
General Motors will also reduce its workforce around the world by around ten per cent, even though it was in profit in 2001. The problems at Opel are much bigger than expected because German-based Adam Opel made a loss of about 675 million Euro last year. Management and Union relations deteriorated through lack of communication from both sides.
Continue ReadingFirestone Recall – Now Bridgestone Sued For First Time
For the first time in the Firestone recall saga, Bridgestone is being sued alongside its US subsidiary. A 46-year old nurse, injured in an Explorer rollover accident, is suing Bridgestone Tokyo, the US-based subsidiary Bridgestone/Firestone Americas Holding Inc. and Ford. In the past, Bridgestone has claimed that it is not liable because its US company is independently operated, although in November a US District Judge ruled that Bridgestone can be held liable, as it transacts business in the United States and is therefore subject to US laws.
Continue ReadingIntegrated Vehicle Tyre Monitoring Launched
A co-operation between Michelin and Wabco sees the launch of a tyre pressure monitoring system specifically designed for commercial vehicles. The system consists of wheel modules which measure tyre inflation pressure and transmit the data to a vehicle mounted receiver. In the event of pressure loss the data is sent several times every minute. The module is attached to the outside of the wheel, alleviating many of the problems associated with internal sensors. An Electronic Control Unit (ECU) capable of handling up to 12 wheels is mounted on the vehicle chassis. In the case of trailer units, each trailer has its own ECU. The ECU transmits the signals to a cab mounted display unit which alerts the driver visually and acoustically whenever a problem arises. The position of the faulty tyre can be ascertained by pressing a button on the display. The system has the advantage of an evaluation algorithm developed by Michelin which detects pressure deviations and leakages immediately. It even functions whilst the vehicle is stationary. The system can be retrofitted and will be commercially available in Europe by the middle of 2002.
Continue ReadingNew Distributor For Westlake
Eskay Tyres, based in Sittingbourne (Kent) have been appointed sole European distributors for the Westlake brand of radial and bias-ply tyres. The range includes passenger, light truck, truck, agricultural, ATV, OTR and industrial tyres.
Continue Reading100 New Jobs At C-Tyres
Colway Tyres has been re-incarnated as C-Tyres in a management buy out backed by the Royal Bank of Scotland. The deal was created through Tait Walker Chartered Accountants and Hay and Kilner solicitors. Colway Tyres was the market leader for passenger tyre retreads, boasting sales of around 600,000 and Motorway Retreads were the third largest premium truck retread producer. The two firms together under the C-Tyres banner should have excellent prospects, said Allan Kelly of Tait Walker Corporate Finance. Managing Director Garry Oliver, Finance Director Peter Morris and Operations Director John Harrison announced that future business has already been secured with Kwik-Fit, ATS, National Tyres and Motorway/Hi-Q. The firm expects to take on in excess of 100 new employees in 2002 - including many of the skilled staff laid of when Colway closed its doors.
Continue ReadingSuperior Industries’ Wheel Production To Rise By 30 Per Cent, Say Analysts
A report from automotive analysts at UBS Warburg forecasts that aluminium wheel manufacturer Superior Industries will increase production capacity by 30 per cent by the end of next year, to 17 million wheels. This is despite a predicted slow down in US auto sales. Superior sells wheels to OEMs and 85 per cent of its business is with Ford and GM, supplying around half of their aluminium wheel requirements. The recent filing for Chapter 11 of Hayes Lemmerz is seen as a factor in the forecast production increase.
Continue ReadingFibre-Optic Cable Contract Awarded To Pirelli And Siemens
Indonesian telecommunications company PT Telkom has awarded a contract to Pirelli and Siemens for the construction of a fibre-optic network in Sumatra. The network will span Sumatra from east to west (2,000 km) and also link with the island of Batam, 20 km from Singapore. The contract, which is worth 70 million Euro, is the first for the Pirelli/Siemens partnership, which was established in May last year.
Continue ReadingBids Due In For Kumho By Tomorrow
The bids for 80 per cent of Kumhos tyre operations are due in by tomorrow and the company expects to name a final candidate by the end of the month. Press reports say that at least two bids have been submitted so far by US-based consortia. If the deal goes ahead, it will be among the largest-ever asset sales by a South Korean company to foreign investors. Earlier today, Kumhos shares rose 8.4 per cent while the overall stock market was down 0.41 per cent.
Continue ReadingSale of Kwik-Fit Becomes Increasingly Likely
Dated 8th January, The Financial Times refers to quotes from Ford top managers, Bill Ford and Sir Nick Scheele, that each part of the company is disposable, except the core business of production and sale of vehicles. Especially mentioned is the fast fit business chain Kwik-Fit, which cannot be counted as core business. Both managers expect a lot more problems for the Ford Motor Company in 2002.
Continue ReadingNTS Definitely Sold to Management
It is now official: In a MBO, the retail chain NTS and the wholesaler Viking International, have been sold to their top executives. Although neither side wishes to comment on the price, it is now common knowledge that the price is more likely to be 40 million Euro than 50 million Euro. At the end of the 80s the Continental group bought the chain from Michelin for 140 million pounds Sterling because the Monopolies and Mergers Commission signalled that it would not accept the total acquisition by the French company. Continental managers are convinced that the details of the sale will ensure further co-operation with the new owners. Continental is convinced that it will consolidate, or even improve its current position in Great Britain through co-operation with the now independent retailer NTS, under the umbrella of the now named Axle Group.
Continue ReadingRecord Sales For Continental’s Car Division
In the last business year Continental Group sold more than 60 million car tyres in Europe (including eastern European countries). Around about two thirds were sold in the aftermarket, the rest as original equipment (oe). In oe, the Continental Brand was dominant, followed by only a small volume from the other company brands. In the aftermarket the leading Continental brand made about 15 million sales, the others followed in order, Uniroyal, Barum, Semperit and the regional brands Gislaved, Viking and Mabor. General must also be mentioned in the off road sector, not forgetting house and private brands, of which Continental sold some five million pieces Europe-wide.
Continue ReadingDr. Wellen Takes Over From Bernd Frangenberg
Dr. Ulrich Wellen, the designated successor to Bernd Frangenberg, has taken over responsibility for Continental General Tire (CGT). Frangenberg will remain a member of the Executive Board until the Supervisory Board meets in April, when he will leave the company.
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