ThyssenKrupp Group Stopped At Stock Exchange
ThyssenKrupp is not able to bring its subsidiary steel company to the stock exchange for a reasonable price, due to current weak circumstances. Institutional investors were not sufficiently interested in the shares. The group calculated up to 4 bn Euros for the steel company. It is now unlikely that ThyssenKrupp could start a raid on Continental. The management made clear that it is streamlining the whole business and focusing, among other things, on the automotive field.
Continue ReadingNew Goodyear Polymer Plant Begins Production
Production has started at a new Goodyear Chemical polymer plant in Beaumont, Texas. The plant cost US$ 144 million and has an annual capacity of 240 million pounds of synthetic rubber and speciality polymers. It is Goodyear Chemicals fourth facility in Texas.
Continue ReadingNew President And COO For Goodyear
Goodyear Tire & Rubber has appointed Robert J. Keegan (53) as president, chief operating officer and director of the company, effective Oct 1st. Currently president, consumer imaging of Eastman Kodak, Keegans appointment reinforces Goodyears intention to focus more on the consumer, says the company.
Continue ReadingIntelligent Tyre From Nokian Links To Driver’s Mobile Phone
Nokian Tyres has developed an intelligent tyre technology system that sends real-time data on tyre pressures and temperature to the drivers mobile phone. No extra display is required inside the vehicle.
Continue Reading“Truck Force” At The Starting Line
Goodyear has got on well with their integrated truck service concept, as stated by the group. Whereas, by the end of last year, 65 partners have been using this Goodyear service for commercialising truck tyres, the figure has currently raised up to 90, which means another step closer to the target of an area-wide service network in Germany. As estimated by Frank Titz, Manager Sales & Marketing Truck Tires at Goodyear Germany, around 150 service points will be necessary, of which 120 are already covered by their 90 partners. Because of continuing merging activities within the forwarding business, foreign markets have to be considered, too. All big freight vehicle fleets are on the road all over Europe, so that service may not end at the frontiers, Titz is explaining the motivation for the European-wide extension of the concept, named Truck Force. By the end of 2001, we want to be represented at all main international traffic arteries, either from Portugal/Spain to Scandinavia and from France versus Eastern Europe. Advantages are not only suggested for trade, but for Goodyear itself, of course. In fact, according to Titz, in Germany more than 50 per cent of all new truck tyres have been sold so far by their partners.
Continue ReadingFurther Price Increases Necessary Soon
Recently announced price increases effective from the 1st November have not been sufficient to compensate for constantly increasing costs. The Continental Group therefore sees the necessity to increase prices again. The company expect to announce rises of around four to five percent early in the new year, Jescow von Puttkamer told NEUE REIFENZEITUNG.
Continue ReadingDr. Paolo Masera New Boss Of Pirelli Reifenwerke
From the 1st January, Dr Paolo Masera (58) took over the responsibilities from his predecessor Dr. Wentz, who is the same age. A few years ago, Dr. Masera was Managing Director of Pirelli UK.
Continue ReadingIncreased Sales And Profits For Vredestein
Vredestein NV, parent company of Enschede-based Vredestein Banden, has announced increased turnover and profits for 1999. Sales rose to 256 m euros, compared to 252 m last year. Cash flow improved 1.2 m euros to 29.9 m euros and net profit for the year was 10.4 m euros.
Continue ReadingEdouard Michelin: Young And Rich
The UK magazine EuroBusiness ranks Edouard Michelin at number 103 among Europes richest 400 people with a fortune of 1.85 bn Euros.
Continue ReadingKeeping The Technic Name Alive
Last year the Technic Group – the world’s largest car tyre retreader – went into Receivership and it looked as if its assets would be sold off. However, the Technic name lives on, as the company has been purchased by Phil Blood and Lucia Farmer. Phil is one of the two original founders of Technic and Lucia is the widow of the other founder, the late Tony Farmer. Phil Blood could not say how many retreads would be made by the new company (called Technic Tyre plc) but he believes that there is a market for a quality retread. One thing is for certain; production will be a long way short of the 40,000-50,000 tyres a week which Technic was turning out at its peak. Phil’s comment on future production is it will find its own level. He admits that sentiment played a large part in rescuing the company with both he and Tony wanting the name of Technic to continue in the area. Tony and I put ten years’ hard work into Technic and neither of us wanted to see it wasted Phil commented. Some of the old Technic team are back working for the company, including Martin Gledhill and Ian Smith. Phil Blood emphasises that he is not employed by the company, he is part owner of Anguilla plc, the company which purchased Technic’s retreading assets. Bearing in mind Tony Farmer’s part in building up Technic, it was perhaps fitting that the first of the ‘new’ retreads were produced on March 1st – a day which would have been Tony Farmer’s 48th birthday. More about this in TYRES & ACCESSORIES’s March issue.
Continue ReadingTeam Kooperation Annual Meeting
Last weekend, Team Kooperation held its 4th annual meeting in Kassel. A special exhibition was held alongside the event in the Stadthalle Kassel which attracted such names as Bridgestone, Conti, Goodyear, Michelin and Pirelli, displaying their group brands. Some high-powered managers attended the event too; Bandags Martin Carver flew over specially from the USA. An important milestone was the planned merger between VRG and Team. The Kooperation has its own private brand for passenger and commercial tyres, made for it by the Conti group. Teams aim is to expand not only nationally, but on a Pan-European basis, attracting enough members to give the group ample coverage of the markets.
Continue ReadingGoodyear Wins New Confidence
First quarter results due to be released on April 19th should be better than expected. The capacity utilisation in all Goodyears factories was higher than last year and the fill rate has been further improved. If Goodyear can stick to the already announced price increases in the USA (3-5%), this will mean a faster than expected recovery.
Continue ReadingChange At Austrian Dealers Association
The Austrian Tyre Dealers Association VRÖ (Verband der Reifenspezialisten Österreichs) has appointed a new President: Former Vice President Ing. Walter Antosch succeeds Ing. Günter Deschka.
Continue ReadingMarket Expects Record Sales For Conti
Rumours in the tyre market anticipate record sales for the Continental Group of almost 9 billion Euros for 1999, mainly due to the integration of Teves. This rise also presents a 30% increase in EBIT to around 520 million Euros. Exact figures were made available in early April.
Continue ReadingJordan Stays With Bridgestone
Jordan has extended its contract with Bridgestone and hopes to become the tyre manufacturers number one partner. There are rumours that McLaren and Ferrari are leaning towards Michelin like Jaguar Racing, the BMW/Williams team and Toyota did before.
Continue Reading
