KIK Technology Inc, of Oceanside, California has been taken over in a share exchange by Russian Imports Inc. KIK Technology Inc, is a profitable operator in the growing off the road tyre market and offers an extensive range of patented, flatproof, micro-cellular polyurethane products. The company is currently concentrating on healthcare, industrial and recreational markets, but expects to see expansion of its market through a three-year strategic development plan.
The European Commission, and BIPAVER are in negotiation with Brazilian and Argentinean authorities to try and raise the prohibition of the ban on retread imports which the EC considers protectionist and a restriction on Free trade. The EC is preparing to take the case to the World Trade Organisation, which will allow compensation claims to be made and possible commercial retaliatory barriers to be imposed.
Ford Chief Executive Jacques Nasser has described the news that the recall of Firestone tyres in the USA might take until next spring as “unacceptable”. Originally, the recall was scheduled to take until summer, but Bridgestone/Firestone announced the revised spring time scale this week. Production of Firestone tyres has doubled and imports have been increased to meet demand. Ford is said to be considering a number of ideas to quicken the recall, including providing rental vehicles for those who are anxious about the delay.
An article in the newspaper Handelsblatt suggested that Continental is about to open a tyre factory in Moscow and that negotiations were close to final agreement. An investment in the region of 30 million Euros was reported. In September last year, Neue Reifenzeitung reported on negotiations between Continental and Moskauer Reifenwerke, which was very close to bankruptcy, although the financial situation may have improved as the main shareholder Yukos has sold its stake in the company. NEUE REIFENZEITUNG asked Continental for more details, but the company said it was not in a position to comment and could not confirm the figures quoted. Continental is only one of the tyre companies involved in negotiations in this area, with Michelin being another.