Hofmann And Balco Join Forces
Hofmann and Balco are to merge their administration and IT functions as part of a rationalisation within the Snap-on group, with a new name; European Equipment Group (EEG). The Hofmann and Balco brands will continue, as will the different channels of distribution. Chris Grimm, MD of Balco, will become MD of EEG, while Gavin Masterton, MD of Hofmann, is to retire. Our article looks at the reasons behind the new move.
Continue ReadingIt Is Not A Firestone Problem
A California jury in a civil case raised against Ford, has found that the Ford Explorer is defective by design. The first time a jury has found Ford liable. According to plaintiffs attorney Garo Mardirossian, The floodgates have now opened up. Its not a Firestone Tire problem. Its a car problem. The jury rules that the vehicle involved in the case was not only faulty at the time of the accident, but was faulty at the time of shipping from Ford. This flies in the face of statements to the contrary from the NHTSA.
Continue ReadingSteel Versus Alloy Wheels
The oe alloy wheel suppliers get a lot of orders from car manufacturers these days. Even Volkswagen - in urgent need of a large quantity of alloy wheels - is looking for a qualified supplier in Turkey. But for a lot of companies this has bred complacency. So take care, alloy wheel manufacturers, because the steel wheel producers have not been sleeping in the meantime. Several new car models are being fitted with the latest in steel wheel designs. Concerning the weight of the wheel, the light steel version can be favourably compared with the level of the average alloy wheel. As far as price is concerned, steel is more economic and, in the field of design, a lot of developments have taken place.
Continue ReadingConsolidation Of Bridgestone Warehouse Hub
Bridgestone/Firestone has acquired total ownership of stores at Zeebrugge (Belgium). The 59,000 square metres have an option to be extended to 79,000 square metres and will operate as the European hub for the importation of 1.8 million truck and bus tyres per year, which are then redistributed to destination warehouses throughout Europe. Future developments may result in the same logistical flow being applied to passenger car, light truck and off road tyres.
Continue ReadingLosses At Tenneco Automotive
Tenneco Automotive has reported an 8 million dollar loss in the fourth quarter of 2001, this completes a 130 million dollar loss for the year, compared to a 40 million dollar loss for the previous year. The company is to close eight facilities worldwide, with the loss of 900 jobs. This will form part of a global lean manufacturing and distribution initiative.
Continue ReadingContinental Rearranges Trading Activities
A management buy-out finally helped the Group to divest itself of their trade chain NTS, which has been in the red for some time. It is said that over the last three years only, they had to meet with losses of more than 50 million Euro. And despite of a turnover of more than 200 million Euro, even Vergölst, another trade chain, also failed to avoid considerable losses. In an interview with NEUE REIFENZEITUNG, Dr. Hartmut Wöhler, the Groups director for trading activities, however assured NEUE REIFENZEITUNG that after last years losses of almost a double-digit million sum, this year is ought to see a black zero. For Wöhler these unsatisfactory results, amongst others, were due to the repeated management changes which had impacted upon these trading chains over the last 20 years, resulting in a lack of continuity.
Continue ReadingTyres2Oil Development For Germany
Advanced Recycling Sciences (ARS) has signed a Memorandum of Understanding with Natur-Energie-Wertstoffrecycling Umwelt AG (NEW, Munich) to develop ARS Tires2Oil (tm) technology in Germany. The arrangement will allow NEW to build a full scale facility by the second half of next year. NEW is negotiating with ARS to acquire a 5 per cent share of the new venture at Penkun. The process treats crumb rubber in a hydrocarbon-based solvent in thermodynamic conditions to depolymerise the rubber and recover carbon black and oil. The purified output will produce crude oil with a less than 15ppm sulphur content.
Continue ReadingBidder Approved For Kumho Tyre
Kumho has announced that it has chosen to work with an international consortium comprising Carlyle, JP Morgan and UBS Capital as the preferred partner for the sale of the Kumho Groups tyre division. The buying group has obtained loans of 761 million dollars from the Chohung Bank and other creditors to facilitate the purchase. Kumho expect to raise up to 1.5 billion dollars from the sale of 80% of the business, but intend retaining the management rights.
Continue ReadingGoodyear/Dunlop Reorganisation
Effective February 1, 2002 Goodyear Great Britain Limited and Dunlop Tyres Limited will implement an organisational structure reflecting its intentions to manage the two brands separately in the marketplace supported by various shared service functions. Among the key appointments are the following, who report to Marco Molinari, Chairman and Group Managing Director UK Operations: Bill Yates, Managing Director Dunlop Tyres Limited, Bill Hall is appointed Managing Director Goodyear Great Britain Limited and Paul Harrell, GM Retail Operations.
Continue ReadingMinis For US Market On Goodyear Run-Flats
The new Mini Cooper and Mini Cooper S cars, now made by BMW, are due to arrive on the US market in March. The cars will be fitted with Goodyear NCT 5 EMT run-flat tyres, manufactured in Fulda, Germany. The tyre size is 195/55 VR15.
Continue ReadingFull Year Results From Bandag
Bandag has announced consolidated net earnings of $17.4 million for the quarter ending 31st December 2001, bringing total net consolidated earnings for the year to $43.8 million, or $2.12 per diluted share on sales of $964.9 million. This compares to 200 net earnings of £60.3 million on sales of $996.1 million. Martin Carver, Bandags CEO stated that strong results in the last quarter were offset by performance in offshore operations. He noted that offshore operations continued to experience difficult economic conditions and strong competitive pressures.
Continue ReadingCuts In Rubber Output Planned
Indonesia and Thailand have threatened to cut rubber production. Indonesia and Thailand are planning an immediate 10 per cent cut in production in a plan to push prices up by as much as 30 per cent. Malaysia is expected to follow suite. If the cuts are effective it could result in 20 per cent price rises in the retail prices of tyres. In order to sustain the cuts, Indonesia and Thailand are proposing to convert rubber plantations into alleged cash crops such as cocoa and coffee. It is expected that the main beneficiary of this move would be Russia, the main producer of synthetic rubber.
Continue ReadingOE Supplies From Goodyear May Be Cut
Goodyear Tire and Rubber is considering cutting sales to vehicle manufacturers due to declining profits. The company may also shift some manufacturing to sub-contractors in an attempt to improve margins. Goodyear claims that OE supply could be cut by as much as 24 per cent in three years. 30 per cent of Goodyear tyre sales are to vehicle manufacturers. Unless the tyre manufacturer can secure price increases for OE tyres production could be cut by as many as 5 million units. There have also been suggestions that Goodyear may sub-contract private label production to third parties.
Continue ReadingThe Supreme Way Forward For Claydon’s
Tyre wholesalers, R.H. Claydon today announced a new series of additions to their Supreme brand of agricultural and industrial tyres. The companys business development manager, Dick Anderson said, we do not consider our Supreme range to be classified within the budget sector. It is a brand that delivers quality at an economical price.
Continue ReadingSuperior Wheels For GM
Superior announced the award of several new and replacement programs under the previously announced long term supply agreement which has now been finalized and signed with General Motors Corporation. The first of these programs will begin production in the Spring of 2002 and include the Saturn vehicle name plate; a first for Superior Industries. These recent business awards demonstrate the value of this unprecedented year contract to both General Motors and Superior Industries because it was based on long term performance in delivering the highest quality, technology and service at competitive prices, said Louis L. Borick, President and Chairman of Superior Industries.
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