Round Two: Evans Versus Gibara
Some weeks ago, Akron Beacon Journal business columnist Diane Evans stressed the point that Goodyear bonds have become junk bonds. Who could ever have imagined that, she asked? In a letter to the editor, Gibara said that Evans seemed to criticise him constantly and, more importantly, not give the readers the full facts, which forced him to answer back in the name of all the good Goodyear associates. The issue rumbles on - the supervisory board has given Gibara a bonus of US$ 1.25 million, which Evans believes is not a good decision. Furthermore, it has become obvious that a power struggle is going on within the group, between the two highest-ranking managers.
Continue ReadingDr. Paolo Masera Back In Italy
Dr. Paolo Masera (60), who was MD for Pirelli in the UK for a short time and MD for Pirelli in Germany twice; the second time for only a few months, went to Brazil early in 2001. He now is back in Italy again to take over another leading position in Milan.
Continue ReadingGlobal Marketing Director For Goodyear
Jeanne B. Sherman (44) has been appointed as director, Global Marketing Services for the Goodyear Tire & Rubber Co., reporting to Cathryn M. Fischer, vice president and chief marketing officer. Sherman has 20 years experience of marketing with several well-known brands, including Wilson golf balls, Cheetos snacks and Kraft foods.
Continue ReadingName Change To Be The New Marketing Craze?
A bizarre tyre story from Canada: four Canadians have legally changed their names from Dunlop to Dunlop-Tire in order to win a share of a $25,000 prize. The money was offered by Dunlop Tires and more than 100 people applied. Dunlop Tires carried out a survey, in which 42 per cent said that they thought that name-changing to brands will be a new marketing strategy. 37 per cent said they would change their name if paid sufficiently.
Continue Reading2001 Provisional Figures From Conti
Continental has released provisional figures for 2001. Sales increased by 11.1 per cent to 11.2 billion Euro (2000: 10.1 bn). The Automotive Services Division increased turnover by 31.8 per cent and the tyre divisions sales rose by 2.2 per cent. Good sales of passenger car tyres in Europe compensated for falling sales of commercial vehicle tyres and in the turnover of Continental Tire North America. A one-off restructuring cost of 468 million Euro adversely affected the 2001 figures and the end result is a deficit for the year of 258 million Euro, compared with a surplus for 2000 of 205 million Euro.
Continue ReadingShredded Firestones Put To Use
Firestone tyres recalled in the USA are being put to good use, with rubber crumb used as artificial turf. A Montreal-based company called FieldTurf is producing the artificial turf for the Lions new stadium at Ford Field, Dearborn. A spokesperson for FieldTurf said that it had been specified that the rubber crumb came exclusively from Firestone tyres, in line with Bill Fords stance on corporate environmental responsibility.
Continue ReadingFujikura Chips For Goodyear
Goodyear has named Japanese component specialist, Fujikura, as the preferred supplier of sensor chips for tyre pressure monitoring systems. The chips will be used in sensors developed by Goodyear and Siemens VDO.
Continue ReadingMichelin Is Leaving The Competition Behind.
In 2001, the Michelin corporation generated a world-wide turnover of 15.775 billion Euro (+2.5% compared to 2000) and an operating profit of 1.04 billion Euro (-10.5% compared to 2000), thus showing a net profit of 314 million Euro (-28.4% compared to 2000). Under difficult economic circumstances world-wide, Michelins two main competitors, Bridgestone and Goodyear, could not even get close to Michelins operating profit, which corresponds to 6.6% of turnover. Bridgestone is still suffering from the consequences of the Firestone tyre recall in the USA, in 2000, and Goodyear has shown a loss for 2001. During a press conference at the end of February in Paris, Michelins COO, Edouard Michelin, clarified the course of business events during the last year, and Michel Rollier, Chief Financial Officer, offered a detailed view on the corporations figures. For the very first time, the corporation answered questions during a big press conference (other conferences were held in London and New York), and mentioned turnover and profit figures for the individual divisions.
Continue Reading65-Pounder From Accuride
Accuride has launched a 65 pound (29.54Kg) lightweight steel truck wheel. The combination of high strength low alloy steel coupled with engineering design and process has given Accuride a light steel wheel with the strength of a standard steel item coupled with the light weight of an alloy wheel. The 17 pound (7.73Kg) saving over the standard steel wheel the Accuride Lightweight Steel item could increase truck payloads by 306 pounds (139Kg). The wheel is available in 22.5 x 8.5 for standard hub mounting and can be supplied powder coated, and has a maximum load rating of 7,400 pounds (3364Kg).
Continue ReadingEuropa Tyres Buys Moplant
Europa Tyres, the UK agricultural tyre wholesaler which is part of the BITS organisation, has acquired the share capital of Moplant Limited; the manufacturer of the Thornguard and Nailguard ranges of anti-puncture tyre liners. These liners reduce punctures in off-road vehicles by over 90%, according to customers.
Continue ReadingEU Commissioner To Examine Conti Move
EU Competition Commissioner Mario Monti is to investigate Continentals decision to switch production to Portugal while closing its Gislaved factory in Sweden. Some sections of the Swedish media have suggested that the move was prompted by EU grants and tax breaks. The Portuguese government said that an EU aid financial package worth 23 million Euro had been approved last summer for the expansion of a Conti factory in northern Portugal. Continental says that overcapacity is responsible for the Gislaved closure and the company says that no significant amount of tyre production has been moved to Portugal.
Continue ReadingTurnover And Profits Rise For Stapleton’s
Stapletons Tyre Services, the UK-based wholesaler, has released financial figures for the year 2001. Turnover rose 15 per cent over 2000 to 86 million Pounds (141.15 m Euro) and profit before tax was 1.55 million Pounds (2.5 m Euro). Stapletons recently completed the acquisition of rival wholesaler WSTyremasters; a deal which will add another 36 million Pounds (59 million Euro) to annual turnover.
Continue ReadingMichelin Surpasses Competitors
Michelin consolidated net sales for 2001 amounted to 15.775 bn Euro (+2.5 per cent over 2000). The operating profit reached 1.04 bn Euro (-10.5 per cent) and net profit was 314 million Euro (-28.4 per cent). With 6.6 per cent operating profit as a percentage of sales in a very difficult and competitive economic environment, Michelin easily outperformed its two biggest competitors Bridgestone and Goodyear. Bridgestone is still suffering from the consequences of the Firestone recall and Goodyear has reported losses in 2001. In a press conference in Paris Michelin boss Edouard Michelin spoke about the previous business year and Chief Financial Officer Michel Rollier gave detailed figures - also for the various divisions. It was the first time that Michelin has presented the companys figures in such a major press conference, which was followed by two others in London and New York.
Continue ReadingCompromise Over US Tyre Monitoring Systems
The White House has moved to end the wrangling over the forthcoming mandatory fitting of tyre monitoring systems on vehicles in the USA. The argument has been over which technology to use; whether to directly monitor air pressure in all four tyres or to use the vehicles ABS System, which can show when one wheel is rolling lower than another but which cannot detect low pressure in all four tyres. It has been decided to let auto makers offer either system while the Government and the NHTSA study the systems more closely. The main objections seem to be based on system cost, rather than safety performance.
Continue ReadingRecall For Mitsubishi Pajeros
Mitsubishi is to recall 22,626 Pajero Minis, made between October 1 1998 and October 4 2001, due to a potential problem with the brakes. In a statement, Mitsubishi said There is an inadequacy of the fixing of the left near brake tube on (certain) tyres. The company stresses that the recall is purely precautionary and that there have been no accidents caused by brake failure.
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