Kraiburg Survey Finds Partners “Very Pleased”
The majority of Kraiburg’s partners are more than satisfied with their retreading materials supplier, according to a survey conducted by the Austrian based company. The survey questioned 30 key account customers in the European market. Topics such as service, products, package value and suggestions or criticism were discussed in personal interviews. Marks were awarded from 1 for very good to 5 for unsatisfied. The average total mark was 1.63. The Austrian company reportedly fared well in sales service, office and logistics departments (average mark 1.38) or availability and competence of the technical service (1.28). The same applies also to responses on the quality of the company’s cold and hot material (1.34 and 1.33 respectively).
Continue ReadingANRPC Annual Conference Looks “Beyond the Crisis
The Association of Natural Rubber Producing Countries (ANRPC) is hosting its Annual Rubber Conference on 4 November 2009 in Ho Chi Minh City, Vietnam. This year’s conferences’ theme is: “Beyond the Crisis: Emerging Asia and Opportunities for Natural Rubber.” Hosted by the Government of Vietnam, this one-day Conference will have three sessions followed by a panel discussion. The conference is being held in conjunction with the ANRPC’s assembly session and committee meetings to be held in the same week.
Continue ReadingProspect of Toyota Deal Benefits Hankook Share Prices
Shares in Hankook Tire rose 5.94 per cent today after Korean media quoted the company’s vice-president as saying it was negotiating a supply deal with Toyota. “Orders from Japanese such as Toyota could accelerate Hankook's brand image enhancement and we would view the order positively if it were to be finalised,” commented Morgan Stanley in a note.
Continue ReadingTitan to Purchase Goodyear European Agri Assets
Titan International has signed a non-binding letter of intent with Goodyear Tire & Rubber to purchase certain farm tyre assets, including the Goodyear Dunlop Tires France (GDTF) Amiens North factory. The agreement is subject to the French Goodyear operation’s “satisfactory completion” of a social plan related to consumer tyre activity at the Amiens North facility, along with completion of due diligence, a definitive acquisition agreement and other standard acquisition approval requirements.
Continue ReadingMichelin Publishes Rio Green Guide
For the first time, Michelin Maps & Guides is publishing a Green Guide to the main tourists sites in and around Rio de Janeiro, a city that is, notes the French firm, celebrated for its music, sun, beaches, Carnival and joie de vivre. The 288-page guide leads the reader through the labyrinth of streets in this city of more than 14 million people, a candidate city to host the 2016 Olympic Games.
Continue ReadingGoodyear Reschedules USW Contract Conference Call
In the US, Goodyear has rescheduled an investor conference call to discuss its new, four-year master labour contract with the United Steelworkers union. The conference call, originally set for 28 September as was reported previously on Tyrepress.com, has been moved to 14:00 (GMT-5) on Tuesday, 29 September due to a scheduling conflict. Investors, members of the media and other interested persons may access the conference call on the company’s investor relations website: www.goodyear.com/investor or via telephone by calling (706) 634-5954 before 13:55 that day.
Continue ReadingMichelin Lands Eco-Aware Haulage Fleet Contract
Michelin has been awarded a fleet contract with construction and land remediation company, GSE Haulage. The company believes the French tyre manufacturer can help the growth of its business with the fitment of Michelin XZE 2+ and XDY 3 tyres to its twenty Scania tippers, on a “pence per kilometre” contract. The vehicles will be operating on and off-road in the punishing environments of construction and quarry sites, meaning that mileage potential and resistance to damage – therefore reducing downtime – are the most important issues for GSE. Highlighting the importance of his tyre policy, Ricky Hemmings, Managing Director of Kent-based GSE Haulage explains: “One of the lessons we have learned with tyres is that price isn’t everything and by adopting a fleet-wide Michelin policy we have been able to radically reduce vehicle downtime.”
Continue ReadingMorgan Stanley: Michelin August Sales Present Good and Bad News
Analyst reports on Michelin’s tyre sales for last month show both an improvement over Morgan Stanley’s previous predictions and the continued decline of truck tyre sales on July, albeit at a slower rate than in year-to-date figures, representing a bittersweet day for Bibendum. The analyst said that truck sales “were somewhat disappointing in mature markets,” though the figures were “on track to exceed our volume forecast for the quarter. Assuming stable share, we estimate Michelin volume in Aug declined approximately 9 per cent versus our forecast of a 12 per cent volume decline in third quarter.” Predictions in the report were also variable in optimism, since the analysts believe improving declines should “turn into outright growth” towards the end of the year. However, pricing discipline and profitability could be affected over the next two years throughout the industry, as depressed volumes and lower raw materials prices put both at risk.
Continue ReadingHouse Waste Tyres at Your Peril, Says BBC Report
A report produced by the BBC has highlighted the increase of tyre dumping scams following the implementation of recycling laws and the financial risks unwitting property owners are exposed to should tyres be left on their land. The article, screened on Welsh channel S4C on Tuesday, highlighted the plight of Maria Burt and others who have been left with hefty bills for removing tyres left on their property by tenants operating tyre collection operations.
Continue ReadingKumho to Build China Rubber Accelerator Plant
Kumho Petrochemical intends to construct a facility for the production of rubber accelerator in southwest China. The company announced on September 23 that it will spend 44 billion won (£22.4 million) to build the plant by the first quarter of 2011. The Chongqing plant is expected to annually produce 22,000 tonnes of rubber accelerator, a substance used during the vulcanisation process.
Continue ReadingTIF ‘Question Time’ Prefaces NTDA Dinner and TAFF Awards
The TIF’s first Seminar, including representatives from every section of the UK tyre industry, is taking place today, as Tyrepress.com posts this very story. Present on the panel, which will be taking questions from the floor, for the event will be:
Continue ReadingAnalysts: Continental Can’t Afford Emerging Market Investment
Within 24 hours of Continental AG confirming it is partnering with Modi Tyres to make bias truck tyres in India, and after a month of local speculation that the company will now buy a stake in the Indian tyre maker, financial analysts are reporting that the company “can’t afford making any acquisitions or expansion projects in emerging markets which are growing fast.” Rather “all free cash flow generated by the rubber business should be used to reimburse the group’s high net debt of 10 billion,” Deutsche Bank analysts wrote in an investor’s note published today (23 September). Continental’s tyre business reportedly generates 500 million euros of annual free cash flow.
Continue ReadingInnovation is Key to Future Prosperity – Goodyear’s Keegan
In remarks before the 28th Conference on Tire Science and Technology, Goodyear chairman and CEO Robert J. Keegan told attendees that a commitment to rapid innovation, aimed at addressing specific consumer needs, provides a significant “competitive advantage.” Furthermore, in today’s fast paced and economically challenging environment, such a commitment is “critical to a company’s very survival.”
Continue ReadingVauxhall MasterFit Offering Safety Incentives With Tyre Purchases
Vauxhall MasterFit is not only offering to price match any local area tyre quote – customers making tyre purchases will also receive a free 25-point vehicle health check and a tyre pressure gauge. Commenting on the offer, David Elder from Vauxhall Aftersales noted: “Motorists don’t always think about taking their car back to their franchised retailer when looking for replacement parts such as tyres. We’re delighted therefore to introduce our tyre price promise campaign this autumn to demonstrate to our customers that we not only provide quality parts as you’d expect with a vehicle manufacturer, but also at an unbeatable price.
Continue ReadingExpansion Groundbreaking Ceremony Held at Cooper’s Tupelo Plant
Cooper Tire & Rubber has embarked on a number of measures to boost its competitive edge in the North American market. As part of this the company intends to expand its Tupelo, Mississippi facility, and the groundbreaking ceremony for this project took place on September 22. According to Cooper, the US$7 million expansion work will increase the size of the 1.6 million square foot facility by an additional 32,000 square feet and include the installation of mixing equipment.
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