Continental Engaged in Persia
Continental makes her know-how available to Iranian company Kerman Tyre and Rubber Company (Tehran) for the production of truck and car tyre radials. Later Kerman will produce its own brand under this technology plus truck and car tyre radials in an offtake agreement under the Continental brand for the Middle East and Central Asia.
Continue ReadingAward for Bridgestone’s Superbike Tyre “Battlax 010”
The British magazine Motorcycle News has tested motorcycle tyres for machines over 600 cc. Bridgestones BT 010 has won the title Product of the Year in its class due to its extraordinarily good performance. The editor of the magazine underlined in particular the durability and the price-performance relation.
Continue ReadingKorean Unions Try To Block Daewoo Sale To A Foreign Company
Unions working for car manufacturers Daewoo, Ssangyong, Hyundai and Kia are opposing the sale of car manufacturer Daewoo to foreign businesses, believing that such a sale would lead to job losses and pose a danger to the domestic supply industry.
Continue ReadingIncreased Sales And Profits For Vredestein
Vredestein NV, parent company of Enschede-based Vredestein Banden, has announced increased turnover and profits for 1999. Sales rose to 256 m euros, compared to 252 m last year. Cash flow improved 1.2 m euros to 29.9 m euros and net profit for the year was 10.4 m euros.
Continue ReadingEdouard Michelin: Young And Rich
The UK magazine EuroBusiness ranks Edouard Michelin at number 103 among Europes richest 400 people with a fortune of 1.85 bn Euros.
Continue ReadingVRG Ends Consultations With Team
Surprisingly, Team and VRG could not come to an agreement in some major topics concerning the co-operation of the two German groups of tyre dealers. As a result VRG ended the consultations for the present.
Continue ReadingMichelin Price Increase
After Continental and Goodyear, Michelin is now planning a price increase of 3%, which would be equivalent to absorbing an increase in raw materials (Rubber, Oil) of about 12%. Due to the fact that raw material prices are continuing to grow it seems unlikely that much of the price increase will benefit the manufacturers.
Continue ReadingContinental Shares Like Lead
Despite excellent results and an on-going buy recommendation from Deutsche Bank, Continental shares are not rising. The management has announced that the intelligent tyre is to be fitted as OE from 2003 but refuses to name the car manufacturer. The management also feeds speculation regarding a joint venture partner for brakes in Asia. Will this help the share price to rise?
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.
Continue ReadingAWI Plant Closes
Alloy Wheels International (AWI), a subsidiary of South African company Murray & Roberts, has closed its Cardiff plant because of an expected fall in demand from oe customers Rover Cars and Land-Rover and reduced competitiveness because of currency problems. 250 jobs are lost.
Continue ReadingISO 14001 Accreditation For Hayes Lemmerz
The worlds leading wheel producer Hayes Lemmerz has been awarded environmental certification ISO 14001 for its Czech facility Autokola (Ostrava).
Continue ReadingNorth American Wheels Team By Hayes Lemmerz
Hayes Lemmerz has combined its sales and marketing forces of fabricated and cast wheels in North America. President of the new unit is Ronald Kolakowski, Richard Miller has been appointed vice president and four sales directors are responsible for NA oe customers.
Continue ReadingTronchetti Provera Considers Positively The Goodyear/Michelin JV
The Chief Executive Officer of Pirelli, Mario Tronchetti Provera, considers the PAX-agreement between the two tire giants positively. Pirelli is already a developing partner, together with Michelin, regarding PAX and Run Flat Technologies in general. Tronchetti said that Goodyears involvement will further accelerate the development and the promotion of PAX.
Continue ReadingFirst Quarter At Hayes Lemmerz
Hayes Lemmerz sales and earnings in the first quarter 2000 were at the same level as last year. A significant drop in orders for heavy truck wheels and brake components was compensated by a successful expansion of aluminium wheel capacity worldwide.
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