Second ContiTech Fluid Joint Venture in China
ContiTechFluid, the business unit of tyre producers subsidiary ContiTech, has recently purchased 51 percent of shares of Chinese hose producer Grand Ocean (Chang Chun). From January 2002 the 100 employees will produce parts for VW models Jetta and Bora and the Audi A6. The project in the north of China requires an investment by ContiTech of up to five million euro.
Continue ReadingReorganisation In Store As Hayes Lemmerz Files For Chapter 11
Hayes Lemmerz, the wheel manufacturer that has been undergoing difficult times recently, has filed for restructuring under Chapter 11 of the US Bankruptcy Code. The company is at pains to point out that it has not gone bankrupt, neither is it going out of business and that Chapter 11 is a court-supervised restructuring proceeding, not a liquidation proceeding. It also applies only to Hayes Lemmerzs own operations in the USA and that operations outside the country (except for one plant in Mexico) and joint ventures are not included. Declining market conditions and excessive debt were blamed for the action. Hayes Lemmerz shares fell to 52 cents at the news.
Continue ReadingInvestor Update From Goodyear
Goodyear has published its monthly investor update, giving brief details of the companys performance in various world markets. In North America in October, industry shipments of OE and replacement tyres fell. Goodyear made production cutbacks, which continued during November. European industry-wide replacement tyre shipments fell for both passenger and commercial and Goodyears sales followed this trend. For OE, Goodyear shipments of consumer tyres were up on last year while those of commercial tyres fell. In Eastern Europe, Goodyears shipments of OE and replacement tyres fell from October 2000 levels. Replacement shipments in Latin America fell and OE shipments rose, while in Asia, OE and replacement shipments both rose.
Continue ReadingLogistic Centre Opens In Poland For Debica
Jarro Kaplan, Goodyears President for Middle and Eastern Europe, Africa and the Near East, recently officially opened the new Debica logistic centre in Tarnow, Poland. The storage area is 30,000 square metres and the warehouse has 30 loading docks for trucks. 200 new jobs have been created and the investment is estimated at $12 million.
Continue ReadingAccreditation And Tax Credits For Tirex
Tirex, the Canadian company which has developed a cryogenic tyre recycling process, has been officially accredited as an authorised tyre recycler by the Provincial Government recycling agency, Recyc-Quebec. Tirex has also benefited from tax credits, totalling $Canadian 86,825 net.
Continue ReadingNew Polish Factory For Tenneco Automotive
Tenneco Automotive has officially opened a new factory in Gliwice, Poland, to supply shock absorbers to European-based vehicle manufacturers. The facility is 21,000 square metres in area and will make six million units annually by the year 2005, eventually employing 120 staff. Tenneco says that the $20 million investment is the latest stage in the companys strategy to expand in Eastern Europe.
Continue ReadingMulti-Million Investment For Pirelli UK Plant
Pirelli is to spend more than 11 million Pounds on extending its factory at Carlisle in the UK to manufacture tyres for 4WD vehicles. For some time, Carlisle has been Pirellis centre of excellence for SUV tyres and the factory produced 530,000 SUV tyres last year. The new investment will see this figure rise to 1.1 million next year and eventually to 1.6 million. 80 per cent of these will be exported to Europe and the USA. Carlisle also produces high performance tyres and total unit production at the plant will reach 4.25 million units in 2002.
Continue ReadingBuy-Out At Just Tyres
On 10th November it was announced that 38 Just Tyre outlets had been sold to a team which includes three Just Tyres managers. Major shareholder in the buy-out is Ian Grant, who was Chief Executive of the Just Tyres Holdings group. The purchase price was not revealed, but it is understood that around 100 jobs have been secured by the deal. The group called in the Administrative Receiver in mid-October and 40 Just Tyres outlets were closed immediately. A further 12 were closed last week, leaving the most profitable 38 depots in the chain. Ian Grant said he was encouraged by discussions with suppliers.
Continue ReadingRacing Agreement Between Michelin And Porsche
Michelin and Porsche have signed a partnership agreement with Porsche for the exclusive supply of racing tyres, effective from the first of January 2002. It concerns all Porsches competition activities, the national Porsche cups, plus the current and future official entries of Porsche Motorsport. The Porsche Super-Cup, which traditionally runs alongside several Formula 1 Grands-prix, including the Indianapolis GP, will henceforth be known as the Porsche Michelin Super-Cup. The German Porsche Carrera Cup will also be run under Michelin colours. Michelin, as the official partner, will be involved in all future motorsport development for Porsche.
Continue ReadingKormoran EKOPRO Tractor Drive Axle Tyre
Michelin has launched the new Kormoran EKOPRO agricultural drive tyre to replace the AN-21. Designed for use on low to medium horsepower tractors, the EKOPRO is a standard profile radial, which will initially be available in 13 sizes from 9.5.R 24 to 18.4 R 38 with further sizes up to 20.8 R 38 available in 2002.
Continue ReadingNew Board Member For Continental
Continental AG is set to expand its management board by creating a new post covering finance, controlling and legal matters. These are currently handled by Klaus Friedland, who is also responsible for Human Resources. Recent developments, such as the acquisition of Temic, has pushed Contis payroll up to 68,000 workers and increased the necessity for a full-time HR officer. No specific candidates are being considered for the Financial post at the moment, according to Conti.
Continue ReadingLogistics Centre For Continental?
There are reports in Romania that Continental is going to invest one million Euro in establishing a logistics centre and warehouse in the country. This month should also see the millionth tyre produced at Continentals Romanian factory roll off the production line.
Continue Reading“ZE-512” By Falken
Successor to the ZE-502, which proved a major market success in Europe, Japanese tyre manufacturer introduces its new product, ZE-512, to the European market. The tyre shall set new standards in friction resistance, aquaplaning and handling on wet surfaces. The development of the ZE-512 focused on comfort-oriented, well-balanced properties. The two and one profile block and the side profiles 5-phase shifted random pitch variation minimise noise and maximise steering precision throughout the entire life of the tyre. The ZE 512 will appear in 41 dimensions.
Continue ReadingNorth American Autos – Report Paints Two Scenarios
Industry consultants Autopolis have produced a report on the US Auto industry. The terrorist attacks in September make forecasting difficult, so Autopolis has developed two scenarios. The first assumes that the US economy moves back to pre-September 11th levels fairly quickly, resulting in only a typical US recession with auto sales falling 14 per cent in 2002. Scenario number two is described as bleak and presumes a prolonged war on terrorism, problems with oil supplies, rising inflation and a fall in the value of the Dollar. In this case US sales and production would fall by one third, and fall for two years before stabilising. The reality is likely to lie somewhere between these two extremes, says Autopolis, and flexibility is the key for businesses to survive and prosper.
Continue ReadingHankook Becomes OE Supplier For Renault
The Korean tyre manufacturer Hankook is developing three tyre sizes for Renault. These are 155/65-14 and 165/70-14 reinforced for the Twingo and size 185/65-15 for the Kangoo. First deliveries will start at the end of next year. At present the major OE-suppliers to Renault are Michelin, Continental and Dunlop.
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