Top Tyre In Test: ContiPremiumContact
The UK consumer motoring magazine Auto Express recently put ten tyre brands through a series of wet and dry braking and handling tests. Continentals PremiumContact came out on top, followed by the Vredestein Sportrac and Goodyears Eagle Ventura.
Continue ReadingFord Wants Faster Recall
Ford Chief Executive Jacques Nasser has described the news that the recall of Firestone tyres in the USA might take until next spring as unacceptable. Originally, the recall was scheduled to take until summer, but Bridgestone/Firestone announced the revised spring time scale this week. Production of Firestone tyres has doubled and imports have been increased to meet demand. Ford is said to be considering a number of ideas to quicken the recall, including providing rental vehicles for those who are anxious about the delay.
Continue ReadingNow Continental General Tire Responsible For 18 Deaths?
Tyre failures of the product General 52 S for the Ford Bronco are responsible for the deaths of 18 people, say lawyers in the USA who have filed a law suit against the Group. The lawyers also claim that Continental has deliberately covered up safety faults. Continental rejects all accusations and claims that it has cooperated fully with the NHTSA at all times.
Continue ReadingNo Improvements In Sight For Goodyear Group
Goodyear, together with Michelin, has benefited from the Firestone crisis, increasing turnover but not able to improve profits. Last year the company paid a dividend per share of US$ 1.41; in 1998 the figure was $4.43 per share. It is expected that this years dividend will be similar to last years. Perhaps the turnaround might happen next year.
Continue ReadingCutting Back Jobs At Cooper Tire
Cooper Tire & Rubber is cutting back on 1,100 jobs and scaling back, or shutting some 18 plants world-wide. Cutbacks at US plants in Michigan, North Carolina and Texas do not appear to affect tyre manufacture. Lay-offs at European plants have still to be confirmed and would be undertaken in consultation with employee representatives. The cutbacks come alongside announcements of record third quarter profits.
Continue ReadingReorganisation For Cooper Tire
The Cooper Tire & Rubber Co. has reorganised its Tire Group, naming three divisional presidents. Mark Armstrong is president of the North American Tire Division. D. Richard Stephens is president of the International Tire Division and Larry Enders is president, Commercial Products Division.
Continue ReadingNew Technical Centre Building For Bridgestone in Tokyo
Bridgestone Corporation celebrated the completion of a major addition to its Tokyo Technical Centre on Monday, November 13th. The new building is part of a year-long series of events to mark Bridgestones 70th anniversary in March 2001. On hand for the completion ceremony were 56 Bridgestone executives, employees and guests, including Bridgestone President and Chief Executive Officer Yoichiro Kaizaki. The company has invested about 65 million Dollars in the project. The new Technical Centre Building stands eight stories tall and offers a floor space of around 34,000 square metres, bringing the total floor space at the Technical Centre to around 53,000 square metres.
Continue ReadingGoodyear Supply Problems Continue
Goodyears fill rates in the USA remain low. Dealers are very unsatisfied and are making their opinions strongly known.
Continue ReadingStock Prices: Risers And Divers
In the fourth week of 2000 the share prices of the tyre manufacturers Bridgestone, Continental, Cooper and Goodyear have hit a 52 weeks low. In this week alone, Toyo Tyres fell 10%, Bridgestone 6% and Goodyear 5%. Just a week before Toyo had marked an increase of 12% while again Goodyear (-8%), Michelin (-8%) and Cooper (-8%) did not fare so well.
Continue ReadingSuppliers Put their Hopes in Nissan/Renault Joint Production
The Nissan factory in Barcelona is not working to capacity and is the obvious candidate for joint production work in similarly built Renault models, according to a statement at the Detroit Motor Show by Carlos Ghosn, ex-Michelin manager, now responsible for the integration of Nissan with Renault. Vehicle suppliers hope to profit from the new arrangements, as Ghosn announced a significant reduction in their numbers. For instance, Hayes Lemmerz supplies nearly all the aluminium wheels to Nissan Europe and is now making big strides with Renault as well.
Continue ReadingFull-Service-Leasing Including Tyres
In co-operation with the Advance Bank ASL (Auto Service Leasing) has developed a leasing concept that includes tyre service too.
Continue ReadingWoosung change of name
At a special ceremony in Seoul, Korea, Woosung Tire Corporation has now announced that from 10th February they would be known as Nexen Tire Corporation. The companys new corporate identity will be made public in the near future.
Continue ReadingGo West – Continental For NYSE
In 1999 Continental’s turnover and EBIT only rose around 35 % while for the same year a 70% increase in net profits to 234.7 million Euros (1998: 138.2 million Euros) is reported. Therefore Conti boss Dr. Stephan Kessel is some kind of disappointed and astonished with regard to the performance of the company’s shares. May this be another reason why Continental has revealed that it would float its shares on the New York Stock Exchange some time within the next three to five years?
Continue ReadingMore Tyres Sold In Germany In 1999
The German rubber industry recorded sales of 18.9 bn Marks (+3.9%) in 1999, of which 11 bn Marks (+5.6%) were tyres. German tyre sales (+6.3%) grew stronger than exports (+4.0%). The dramatic increases in prices of raw-materials is a source of worry for the rubber industry, announced the rubber association W.d.K. (Wirtschaftsverband der deutschen Kautschukindustrie).
Continue ReadingHans-Joachim Brand Leaves Continental
Hans-Joachim Brand (53), who, until the end of 1999, was responsible for the British tyre retail chain NTS, left Continental last month.
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