Pirelli Reaffirms Positive Guidance
Pirelli & C SpA has reaffirmed its guidance for “significant improvement” in full-year results compared with 2004. The news follows strong nine-month results, which saw net profits rise 34 per cent. Revenue in the first nine months of 2005 was 2,707 million euros, an increase of 9.8 per cent compared with 2,466 million euros on 30 September 2004. EBITDA was 412 million euros (15.2 per cent of sales), an increase of 17.7 per cent from 350 million euros in the first nine months of last year.
Continue ReadingIRSG Predicts NR Price Will Stay Strong
London-based International Rubber Study Group (IRSG) expects the price of natural rubber to remain strong in the next 10 to 15 years, increasing by about 25 to 30 US cents per kilo annually. Secretary-general Dr Hidde Smit told the Malaysia Star that the IRSG’s price forecast for NR this year was about $1.45 per kilogram, slightly higher than US$1.40 per kilo projected for 2004. “There is an upward pressure for NR prices to be traded higher, buoyed by the increasing rubber consumption in the tyre sector, particularly in China, as well as the switch to NR from higher cost synthetic rubber due to higher crude oil prices,” he said.
Continue ReadingTBC Shareholders Approve Sumitomo Purchase
The shareholders of US wholesaler, TBC Corp, have approved the company’s purchase by Sumitomo Corp of America. Sumitomo America, a subsidiary of Japan’s Sumitomo Corp will pay $35 in cash per TBC share. Including debt, the total acquisition value is about $1.1 billion. The transaction is expected to close later this week, the company said in a statement
Continue ReadingContinental Market Leader in Bulgaria
Continental is the leading player in the Bulgarian tyre market, with a 30 per cent market share, Bulgarian newspaper Dnevnik am has reported. According to Europool figures, total sales in Bulgaria will reach 1.1 million units this year. Goodyear is estimated to hold the second largest share with 25-27 per cent of the market, followed by Michelin with 18-23 per cent and Bridgestone-Firestone with 8-12 per cent. These figures do not include the local sales of Korean, Turkish and Russian tyre brands.
Continue ReadingFalken to Exhibit at Autosport/Aftermarket Show
In January 2006, Falken High Performance Tyres will again be present when the doors open at the Aftermarket Show. At the Falken stand in the main hall visitors will be able to examine the new FK452 premium tyre, and the T110. Falken Tyres UK website will also be on show allowing visitors access to the dealer locator system, enabling them to find their local Falken supplier. Another highlight will be the attendance of the Falken Girls who will be signing copies of their very own Falken Calendars and Posters. The stand will also include a race car simulator, featuring the Gran Turismo 4 computer game. From here visitors will be able to drive the Falken Nissan Skyline GT-R around the famous 20.8 kilometre long Nurburgring track.
Continue ReadingMaxxis and Yamaha Partner to Produce ATV OE Tyres
Maxxis and Yamaha engineers have partnered to produce OE tyres for all four models of Yamaha’s “cutting edge ATV.” Maxxis will supply the M951 and the M952 tyre for use with the ATV the company calls Rhino. “We’re very pleased with the outcome of this project. The Rhino is on the forefront of the ATV market, and collaborating with Yamaha has allowed us to create a tire perfectly suited for the demands of this special machine,” said Scott Griffin, specialty tyre manager at Maxxis.
Continue ReadingSTS Opens New Fast Fit Centre
Stapletons Tyre Services has made a substantial investment in the relocation and improvement of its Watton branch. Motorist can now benefit from a brand new, dedicated fast fit and exhaust centre. STS Holburn Tyre and Exhaust Centre in Watton was recently launched by ex-Norwich City FC Goalkeeper, Bryan Gunn. The centre, based at Brecklands Business Park, off Norwich Road hosted a family fun day in conjunction with the official launch, where motorists and families enjoyed competitions, give-aways and discounts on tyres and exhausts.
Continue ReadingMaxxis to Construct New R&D Centres in Asia and US
Maxxis is planning to complete construction of three new technical centres in Asia and the US in the next eight months. Construction is complete on the first new centre, near Shanghai, China. Here workers are reportedly putting the finishing touches on the six-story, 143,182-square-foot facility, which will employ 200 engineers. Plans are also underway for construction of a proving ground, expected to open in 2008.
Continue ReadingPonton Appointed Head Goodyear Retail Operations
Goodyear’s North American Consumer Tire Business has named Brett Ponton to the position of vice president, Goodyear North American Consumer Retail. In this position, he will be responsible for all company-owned Goodyear retail stores in North America. Overall, Goodyear’s retail operations group is responsible for 763 company-owned tyre stores, 139 of them operated under the Just Tires retail format.
Continue ReadingDunlop is Online for Enthusiasts
Dunlop has launched a new website for motorcycle and car enthusiasts. Injection.tv aims to support Dunlop’s ‘Drivers Know’ brand strategy and offers features such as driving simulation, screensavers, driving tips, as well as the latest ‘must-have’ accessories. Jose D’Alessandro, director motorcycle tyres for Dunlop Europe, Middle East and Africa said: “The new Injection.tv online concept has been launched with the objective of providing our key audience of motorcycle and car enthusiasts with both excitement and the possibility to chill out. A proposition thus far absent from the world of online motoring.”
Continue ReadingCooper Makes Tender Offer to Buy Back Debt Notes
(Akron/Tire Review) Cooper Tire & Rubber Co has commenced a cash tender offer for specified series of its outstanding debt, and is offering to purchase up to $175 million in an aggregate principal amount of its outstanding 7-3/4 per cent notes due 2009, 7-5/8 per cent notes due 2027, and 8 per cent notes due 2019. The tender, said Cooper, will expire at the close of business on 13 December.
Continue ReadingMacDicken Leaving TIA
(Akron/Tire Review) Becky MacDicken, director of government affairs with TIA, has announced her resignation. She is leaving the association as of 2 December to work with the Pennsylvania state government on a business education initiative. MacDicken, who has been with TIA for more than five years, has played an active role in helping shape TREAD Act regulations for the tire industry, and numerous other legislative and bureaucratic issues impacting tire dealers and the industry at large.
Continue ReadingMarangoni Creates New Group Communications Role
Mario Apolloni has been appointed as head of group communications, a move that became effective on 1 October 2005. According to the tyre, retread and retreading systems manufacturer, this new department was created in order to strengthen the image of the business on an international level. It will be my task to oversee all the press communications of all the different Marangoni divisions, Mario Apolloni said in a press statement, adding “I am confident that we will continue to co-operate in this important new area with friendliness and efficiency.”
Continue ReadingTreadways Hires Private Brand Development Manager
(Akron/Tire Review) Treadways Corp. has hired Ed Nini as market development manager for its private brands unit. In his new role, Nini will be responsible for competitive price analysis, market share analysis and coordination, and Treadways’ supplemental pricing programs. Nini is new to the tyre industry and was previously employed with Dow Jones as its senior marketing manager. He will be based at Treadways’ headquarters in East Norriton, Pennsylvania.
Continue ReadingSumitomo Rubber Publishes Strong Q3 Results
Sumitomo Rubber Industries has published sales of 120 billion yen (£581 million, up 8 per cent year-on-year) and operating profit of 9.3 billion yen (£45 million up 18.6 per cent year-on-year). Analysts report that results were ahead of plan and tyre sales particularly “outperformed forecasts.” Exports are reported to have been particularly strong and high performance tyres are said to have sold well domestically. As a result of the strong quarter Sumitomo has raised its full year forecast to sales of 500 billion yen (up 6.3 per cent) and operating profit of 46 billion yen (up 1 per cent). However, Deutsche Bank analysts said: “We feel that the company is somewhat conservative about our fourth quarter. Our current forecasts are sales of 496.0 billion yen [and] operating profit of 50.0 billion.”
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