Test Centre To Close, Says Smithers
Smithers Scientific Services, the research and consulting firm, has announced that it will close its tyre and automotive testing complex at Pecos, Texas, due to lack of demand. 31 staff are affected and will be offered equivalent jobs at other facilities. The closure comes despite attempts to broaden the client base. The 5,800 acre facility, which Smithers bought from Uniroyal-Goodrich Tire in 1987, will be put up for sale.
Continue ReadingUK Retreaders Form Marketing And Communications Group
Members of the Retread Manufacturers Association have formed a group called the Marketing & Communications Committee, intended to promote the environmental benefits of retreading. UK car retread production has fallen from 7.2 million tyres in 1995 to an estimated 1.5 million this year. Truck tyre retreads have remained steady, at around the one million level over this period.
Continue ReadingMemorandum of Understanding signed by Continental
Tyre manufacturer Continental and the Moscow Tyre plant have signed a memorandum of understanding which says that Continental will gradually acquire a majority stake in the Russian tyre plant. The company plans to invest 43 million US-Dollars within the next three years, in order to modernise production at the plant and to supply passenger car and light truck tyres of the companys Continental, Gislaved and Barum brands to the local Russian market.
Continue ReadingImproved Goodyear Run-flat Tires For Lexus OE
New lighter-weight run-flat tyres from Goodyear can be fitted as a $400 option on the 2002 Lexus SC 430 luxury performance car. Goodyears new Eagle F1 GS-D EMT run-flat tyre, in size 245/40ZR18, is able to run up to 100 miles at 55 mph with zero inflation pressure.
Continue ReadingVRG-Partners Meet In Berlin
In his post as Managing Director, Klaus Dieter Heymann gave his last presentation of the cooperation VRG in Berlin. Theo Pecher will succeed him shortly, but will continue to consult with Heymann for a while. Klaus Heymann will officially retire at the next shareholders meeting. In seven years, Heymann has managed to convert the nearly unknown cooperation into an important factor within the specialised tyre trade. According to him, last year VRG was once again very successful and is consequently following the route of expansion. Thus, he can confirm that there are more partners to join the cooperation this year, as negotiations will terminate soon. Heymann gave a critical but not a dull view of the specialised tyre trade. Successful companies like ATU should not be the subject of complaints, and the successful development of other companies from associated sectors (for example Pit Stop) should be acknowledged, too. This makes it even more important to be joined together in a strong group, as the time for individual fighters is over in a fiercely competitive market.
Continue Reading“Agreement Close” For Carlyle To Buy ContiTech
Carlyle, the US private equity group, is said to be on the verge of paying Continental one billion Euro for its ContiTech division. Analysts say that the money will be used to finance purchases aimed at achieving Contis ambition to become a chassis management company rather than just a tyre manufacturer.
Continue ReadingLondon Listing For Ford?
Ford is said to be preparing to list the company on the London Stock Market in order to attract investors. The cost of the tyre recall has decimated profits in the USA, plus the market there is slowing down with the Big Three losing share. Ford is currently quoted on the New York Stock Exchange and a London listing would also emphasise the global status of the group.
Continue ReadingRestructuring at Ohtsu and Sumitomo
The Ohtsu Tire and Rubber Co has released a plan to restructure. The plan involves back-office functions being integrated with those of parent company Sumitomo Rubber Industries Ltd. There will be a subsequent reduction in the workforce.
Continue ReadingSetback In Negotiations Between Carlyle And Continental
According to articles in German newspapers the negotiations between the US-Investment company and Continental for the purchase of ContiTech have hit a snag. It is said that Carlyle is not willing to pay the price that Continental expects. According to spokesmen from Continental the group is now negotiating with more than one potential partner.
Continue ReadingExtended Payments Agreement With Viborg Group
Medium-size dealers and companies are complaining that the biggest European tyre equity Viborg Group is forcing companies who are delivering to give them 90 to 120 days for payments. If suppliers refuse to do so, they will be immediately dropped from the suppliers list. Viborg is known as the company which is asking for the cheapest price from all competitors and, in addition, for an extra fee of 10%. The Michelin group is the number one supplier for Viborg in Germany probably followed by Pirelli whereas, the Continental-group and the Bridgestone-group do not sell too many tyres to the retail chain.
Continue ReadingFunds And Manpower Contributed By Goodyear
Goodyear announced that it will contribute in excess of 1M US Dollars (1,081,775 Euro) to be divided between the New York Times 9/11 Neediest Fund providing aid to rescue workers, civilians and their families and the American Red Cross. The fund will probably exceed this figure as contributions are added by Goodyear employees. The company has also dedicated personnel to ensure the constant supply of tyres to sites in Washington and New York, and has dispatched tyre engineers to assist New York Citys tyre maintenance staff to avoid equipment downtime.
Continue Reading15 Day Closures For Stomil Olsztyn
Michelin controlled Stomil Olsztyn is to curtail production for 15 days during November and December. The shutdown has been brought about by the reduction in sales of the Kormoran marque in Poland. The company will use the break in production to reduce stocks.
Continue ReadingGoodyear Lays Off Five Per Cent Of US Workers
The slowing economic market is the reason given for the news that Goodyear is to lay off 1,400 associates at five plants in the USA. The figure equates to around five per cent of the companys US work force and Goodyear would not say whether or not the layoffs were temporary or permanent. Production at the five factories is being cut from continuous operation to five or six-day working and the layoffs follow 8,000 job losses earlier this year, mostly outside the USA.
Continue ReadingConsumers Association Condemns Fast Fits
A report in the magazine Which? – published by the UK Consumers Association (CA) – has accused fast-fits of recommending unnecessary work in almost a quarter of cases. The CA took a test car to 93 depots, belonging to seven of the UKs largest fast-fit chains, and says that 23, split across all seven chains, recommended unnecessary work. In response, one of the companies involved – Kwik-Fit – says that it has not been given detailed information by the CA but, on behalf of all the companies involved, it takes exception to the implication that so many in the trade would intentionally mislead the customer.
Continue ReadingNew Car Fleet Service From Stapleton’s
In the UK, wholesaler Stapletons Tyre Services has announced that it is to invest two million Pounds in an internet-linked network of service outlets, called Tyreserve, aimed at the car fleet market. Stapletons retail division (50 outlets) will be the first member and Tyreserve will begin trading next April. The new move has the full backing of Itochu, Stapletons parent company.
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