Bridgestone: Smaller OP Drop Than Expected
Tyre maker Bridgestone Corp. said on Tuesday first-half operating profit edged up despite higher raw materials prices, and it lifted its full-year forecasts citing robust sales of high-end products. The higher forecast was expected after Bridgestone said last month it would likely post a smaller drop in 2005 operating profit than first thought thanks to brisk demand for tyres that offer higher safety or help raise fuel economy.
Continue ReadingTitan CEO Says He’ll Buy Plant With or Without Union
(Akron/Tire Review - Freeport Journal-Standard) Following months of virtual silence about the future of Freeports Goodyear Tire & Rubber Co. plant, among the regions last major source of good-paying industrial jobs, the CEO of Titan International Corporation Wednesday drew a rhetorical line in the sand, saying that while he wants to negotiate in good faith with the local United Steelworkers of America, Titan is in no mood for protracted talks or costly demands.
Continue ReadingCopper Production Could Be Hurt By Tyre Shortage
(Akron/Tire Review) Mining Engineering magazine reported that one of the worlds largest mining companies said it may have to reduce copper production because of a shortage of large truck tyres. An executive of Corporacion Nacional del Cobre de Chile (Codelco) said demand for truck tyres currently exceeds supply. Guillermo Vero, Codelco Nortes vice president of mining and metallurgy, said the shortage involves tyres for 300-ton haul trucks.
Continue ReadingSumitomo Rubber Raises Forecasts
Sumitomo Rubber Industries has revised upwards its forecasts for its half year financial results, which are due to be published this Friday. The reasons for the upbeat revision are better-than-expected tyre sales at home and overseas, plus benefits gained from price rises during the period.
Continue ReadingMichelin Covers US F1 Refund Costs
Michelins half year financial results, published last week, include provision for the cost of reimbursing ticket holders at this years US F1 Grand Prix at Indianapolis, when seven Michelin-shod teams withdrew from the race. The cost, estimated at around 12 million euros, has been accounted for in the operating income figure before non-recurring items, says the company.
Continue ReadingKraiburg Treads for Safer Winter Driving
Snow-covered roads, icy tarmac, wet, slush – those who want to be able to drive as safely as possible even in wintry conditions will need special tyres. The better the tread is able to transmit the traction forces, the less the vehicle will be likely to skid – regardless of whether it is a car, a truck or a bus. Retreading specialist Kraiburg Austria’s range of products includes a variety of winter tyre profiles specially developed for commercial vehicles – both in the Kraiburg standard range as well as in the Kraiburg plus premium range.
Continue ReadingTyre Pressure Monitor (UK) Signs Distribution Deal
Tyre Pressure Monitor (UK) Ltd. has signed an exclusive deal with Automotive Aftermarket Products, of Coral Springs, Florida, for the distribution of the Quik-Chek Tire Pressure Monitor for the UK and Republic of Ireland. When the tyre has been inflated to the desired pressure, Quik Chek fits on to the tyre valve. To check pressure, the button on the Quik Chek is depressed and a colour-code indicates whether the tyre is at the correct pressure, or over- or under-inflated. It works at pressures from 20-44 p.s.i. (1.4- 3.0 bar).
Continue ReadingGoodyear Looks For Bigger Launches
(Akron/Tire Review) Goodyear Tire & Rubber Co. is looking to launch a number of new products by the end of this year that will be “more impactful” than its already popular Assurance and upgraded Fortera and Wrangler lines. So said Bob Keegan during a briefing with analysts after revealing the company’s first half results. While he would not elaborate, Keegan told analysts, “We have more impactful products that will be introduced later this year.” Goodyear said sales of its Assurance line are well ahead of last years, and its revised Fortera and Wrangle light truck/SUV tyres are selling faster than its Assurance tyres.
Continue ReadingMichelin Increases Two-Wheel Tyre Prices
(Akron/Tire Review) Michelin North America is increasing prices on its motorcycle and scooter tyres, and tubes and accessories. Effective Sept. 1, prices on Michelin two-wheel replacement tyres sold in Canada, Mexico and the U.S. will jump an average of 5%. Michelin said all backorders will be re-priced and shipped at the new price.
Continue ReadingNew Kayaba UK Website
Kayaba has revamped its website, giving it a fresh, user-friendly look. It is divided into two sections – one for mechanics and one for distributors – and the latter section features an online version of Kayabas 2005 shock absorber catalogue, plus company information, press releases and product information.
Continue ReadingGoodyear Earnings Double
Goodyear Tire & Rubber has reported second quarter results which show net income more than doubled to $69 million. The company explained that price increases and an improved product mix helped to offset raw material prices. In addition the favourable impact of currency translation is said to have added about $108 million to the sales total.
Continue ReadingMixed Fortunes for Michelin in First Half
Michelin has published its financial results for the first half of the year, showing a 0.1 per cent increase in net sales over 1H 2004 to 7.49 bn euros and a rise in net income of 5.5 per cent to 385.9 m euros. At first reading, these results seem to indicate stability and business as usual, but in fact the story behind them is one of wildly differing performances in the various geographic and product sectors, set against a background of inexorably rising raw material costs. Of the 7.49 bn euros turnover, car tyre sales were 4.12 bn, while truck tyre sales accounted for 2.41 bn euros. Operating income was 679 m euros, of which 383 m was car tyres and 283 m truck tyres.
Continue ReadingHoneywell signs UK distribution agreement for BENDIX brand
In a quest to constantly improve levels of service and as part of their overall reinforcement of the BENDIX and JURID brands in Europe for 2005, Honeywell Aftermarket UK has formed a partnership with G.P. Automotive, starting the beginning of August 2005, G.P. Automotive will become a warehouse distributor for all BENDIX products (friction materials, hydraulics, brake discs and drums, brake fluid…) with a capacity to serve all BENDIX customers on a next-day delivery basis. Bendix products are shipped to the UK directly from the two European Honeywell platforms located in France and Germany. G.P. Automotive will carry a very wide range of stock at their Kidderminster warehouse, which will accept stock orders up until 4.00pm and emergency orders until 5.00pm. The aim is to increase the penetration of the Bendix brand in a controlled and targeted manner through G.P. Automotives vast knowledge of the U.K. aftermarket which is covered by their widely experienced sales team.
Continue ReadingBridgestone to Gain F1 Teams
The Williams, Red Bull and possibly the Toyota Formula 1 teams are to join the Bridgestone camp next season, German publication “Auto Motor & Sport” has reported. Bridgestone currently provides tyres to Ferrari, Jordan and Minardi, while Michelin produces tyres for all the remaining teams. This could mean that the current 7:3 ratio in favour of Michelin could become 6:4 in favour of Bridgestone next year. Both Bridgestone and Ferrari are likely to see the news as a positive development, as the manufacturer is currently only basing its data on one top team.
Continue ReadingIndian Manufacturers Race for Falcon Tyres
Indian news sources are reporting that the race for Falcon Tyres is hotting up, with the Hero Group and Metro Tyres entering the fray to acquire the two-wheeler tyre maker. Sources say Apollo Tyres and JK Tyres, who were earlier in the race, have dropped out because of various reasons. The Bangalore-based Falcon Tyres is part of late Manu Chhabrias Jumbo group. The company markets its tyre under the Dunlop brand. If successful, Falcon’s acquisition will give the Hero Group an entry into the tyre business, while Metro will leapfrog to number two position in the Indian ‘two-wheeler tyre market,’ from a distant fifth at the moment. Asked to comment, Sunil Kant Munjal, CEO and managing director, Hero Corporate Services, refused to confirm or deny the move. “I just dont want to discuss whether we are interested in Falcon or not,” said Mr Munjal.
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