SmarTire Signs With Hyundai
SmarTire Systems, the manufacturer of tire pressure and temperature monitoring technology (TPMS), has signed an agreement with Hyundai Autonet Co. to develop, manufacture and distribute TPMS products to the Korean OE and replacement markets.
Continue ReadingItaly To Benefit From Pirelli’s Home Networking Solutions
Network solutions provider Panduit Ltd has signed-up with Pirelli Cables and Systems to include the Sirocco Blown Fibre System in its range of structured cabling solutions. The system, which will begin to be installed by Panduit in Italy shortly, uses a novel ducting system to carry network cables throughout homes, schools and businesses. Its major benefit is that it allows customers to easily upgrade their network capability as bandwidth requirements increase. Rather than installing networks with expensive, just-in-case fibre-optic cables at the outset, the Sirocco system allows new cables of varying capacity to be blown through the ducting to the point it is required, at the time it is required.
Continue ReadingToyota To Invest In Indonesia
Toyota is to invest $180 million to upgrade its Indonesian factories after signing a deal with Indonesias leading vehicle manufacturer, Astra, to acquire control of the factories. The new company will be called Toyota Astra Motor (TAM) and Toyota will have a 95 per cent stake. Toyota plans to make 70,000 pick-up trucks and MPVs annually in Indonesia from next year, 10,000 of which will be exported.
Continue ReadingWood Communications To Distribute Pirelli Optical Cables
Pirelli Telecom Cables and Systems has appointed Wood Communications as a distributor of its DeskWave range of optical data cables in the Republic of Ireland. Produced primarily for LANs and other network applications, the standard range is available from one to 48 fibres available in a range of fibre types. Custom-made cables from Pirelli with higher fibre counts, alternative fibre types or with copper and fibre elements combined, are also available to future-proof cable installations. Wood Communications was established in 1924 and is one of Irelands leading distributors of network products.
Continue ReadingMichelin In World Top Ten
In the latest PriceWaterhouseCoopers/Financial Times survey of the Worlds Most Respected Companies, Michelin is ranked number nine in the Engineering sector. The list seeks the opinions of more than 1,000 CEOs worldwide, plus fund managers, media commentators, etc. Top of the Engineering list were Toyota and GM, while the top ranked company overall was General Electric, for the fifth year in a row.
Continue ReadingPirelli Preliminary Results Show Mixed Picture
Pirelli has released details of its unaudited results for 2002. Group revenue was 6.3 billion Euros, 11 per cent down. This was attributed entirely to the crisis in world telecoms market. The Energy Cables and Systems sector showed a drop in sales to 3 bn Euros (2001: 3.52 bn). The Tyres sector continued to grow, up 9 per cent to 2.85 bn Euros. The Telecoms sector showed a fall to 460 million Euros (2001: 1.2 bn). Group consolidated EBIT was 117 million Euros (2001: 295 m).
Continue ReadingSales And Profits Rise For Nokian
Good 4Q sales have helped Nokian to increase turnover and profits for last year. Sales rose 13.2 per cent to 479.2 million Euros (2001: 423.4 m). Operating profit was up at 60.1 million Euros (2001: 50.1 m) and profit before taxes rose 29.5 per cent to 48 million Euros (2001: 37 m). Sales from car tyres were up 17.5 per cent to 242.8 million Euros (2001: 206.6 m) and operating profit rose 10 million to 51.4 million Euros. Much of the tyre sales (73 per cent) came from winter tyres. There were increases too in sales of heavy tyres and bicycle tyres, but sales of retreading materials slipped slightly. The Vianor chain also showed an increase in turnover and profit.
Continue ReadingMinardi And Bridgestone Patch It Up
Minardi has said that it has finally concluded a deal with Bridgestone for the supply of tyres for the 2003 season, following a difference of opinion between the two companies and an embarrassing two-day test session when drivers Justin Wilson and Jos Verstappen had to run on F3000 tyres. This extends the relationship, which goes back to Bridgestones entry into F1 racing in 1997.
Continue ReadingIndian Tyre Production Up In December
Indian domestic tyre production rose last December by 27 per cent, with gains in most product sectors. Total production rose to 4.642 million units from 3.661 million units in December 2001. Exports also increased to 317,000 tyres from 235,000 in December 2001.
Continue ReadingProfit For Vredestein
Vredestein has released preliminary annual figures for 2002, showing a net profit of 12.7 million Euros, although this figure includes extraordinary income of 1.6 million Euros and a one-off tax benefit of 1.5 million Euros. Group turnover was down slightly to 300 million Euros (2001: 305 m), but the operating profit of 14.7 million Euros marks a turnaround from 2001, when Vredestein recorded a 7.8 million Euros loss.
Continue ReadingRecalls For DaimlerChrysler Vehicles
DaimlerChrysler has announced three recalls in North America, involving 1.2 million vehicles. The first involves 1.06 million LHS, 300M and Concorde models in the USA and 135,000 in Canada, after an investigation revealed that seat recliner bolts may loosen due to premature wear. Recall number two involves 23,000 Dodge Ram 2500 and 3500 diesel trucks, for reprogramming of the engine control software. The final recall affects 11,655 Chrysler and Plymouth Prowlers and replacement of the lower ball joint on the front suspension which may be in danger of separation because of corrosion.
Continue ReadingBridgestone Steadies The Ship
Analysts are optimistic about the performance of Bridgestone ahead of the release of its 2002 figures at the end of the week. The analysts forecast that Bridgestones net profit for the year will more than double to 40.07 billion Yen ($332.5 million), completing a remarkable bounce-back from the Firestone recall debacle. However, it is not all plain sailing, as the same analysts predict a tough time ahead for the corporation over the next few months, due to factors such as a strong Yen, rising raw material prices, weak US demand, and pension fund expenses. Despite these, the 2003 net profit forecast is 74.5 billion Yen ($625 m).
Continue ReadingFrench manufacturer takes 10% stake in Hankook (Update)
Towards the end of January, news broke of a partnership agreement between Michelin and Hankook Tire, whereby the French manufacturer took a 10 per cent stake in the Korean company. The deal was signed in Seoul by Hankook Tire president Choong Hwan Cho and Michelin Asia-Pacific president Jean-Marc François and, according to the official communiqué, the purpose was to allow the companies to exploit synergies in a search for common opportunities to develop their respective positions in the tyre market.
Continue ReadingBridgestone UK Shows Market Share Gains
Bridgestone UK says that independent industry figures show that the company made market share gains in all sectors of the commercial vehicle tyre business. Figures released by the company are as follows: UK replacement market shares for van tyres have risen from 11 per cent in 2001 to 13 per cent last year, truck (22 per cent to 24 p.c.), agricultural (15 p.c. to 16 p.c) and off-road (37 p.c. to 39 p.c.). Truck tyre sales topped 300,000 pieces last year and Bridgestone claims a market share of 16 per cent for steer tyres and 26 per cent for drive tyres.
Continue ReadingNokian Winter Tyre With Rape-Seed Oil
Nokian has developed a new winter tyre, the Hakkapeliitta 4, which features a tread compound that incorporates environmentally-friendly rape seed oil. The tyre has 14 rows of studs and great attention was paid to these. Tests show that a square stud shape was more durable, provided better grip (8 per cent better than the previous tyre) and was less likely to work loose, as well as being less damaging to roads. The tyre is aimed at the Nordic and Russian markets.
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