Goodyear Tire & Rubber Co.’s (Goodyear) sentiments declined in the fourth quarter (Q4) of 2019 (Quarter ending December 31, 2019) compared to Q3 2019, due to the automotive industry’s challenging environment and distributor concerns, says data and analytics company GlobalData.
A survey by The Parts Alliance has revealed that garage owners are feeling confident about the future with many planning to invest in equipment and training, and some looking to take on extra staff. Some 67 per cent of those who responded said they expected the first half of 2014 to see an upturn in trade and, looking further ahead, some 73 per cent felt ‘very confident’ about the year as a whole. The survey was conducted among garages belonging to the Servicesure Autocentre garage programme run by The Parts Alliance.
India’s tyre industry may be in for a lacklustre few months, reports The Economic Times. According to the financial daily, Indian tyre industry organisation the Automotive Tyre Manufacturers' Association expects orders from original equipment customers to be lower until about October. Association director general Rajiv Budhraja said the ATMA is “concerned about the falling orders from different manufacturers.” In May 2012, car sales grew a modest 2.78 per cent and truck and bus sales dropped 11 per cent. “The weak consumer sentiment in the market has further impacted prospects with some significant drop in demand from the replacement market," Budhraja added.
Despite affirming that Pirelli’s recent sale of its broadband business confirms the company’s focus is on its tyre operations, some financial analysts have responded by saying Pirelli’s stock sentiment has peaked for the time being. Their thinking is that the company is on the brink of announcing a series of capital expenditure investments. In response to news that Pirelli sold its broadband operations to ADB for 30 million euros, a Morgan Stanley investor’s note said: “We valued the business at 13 million equity value, the sale price is 30 million (the difference is irrelevant for the share price).”
An agreement between management at Kumho Tires and the union representing employees has finally been reached. The Korea Times states that on April 18, during the 26th round of negotiations, both parties found common ground on all major issues. As per the terms of this final agreement, the decision to lay-off 189 Kumho Tires workers has been revoked on the condition that employees submit written assurances regarding the adherence to company regulations. The Korea Times adds that a further plan to outsource 1,006 employees will be cancelled should the agreement gain worker approval when voted upon.
Manbat, the UK’s largest battery distributor is reporting that the aftermarket response to its control of the Lucas battery brand has been “fantastic.” Manbat was awarded the distribution contract following a tender invitation in the New Year and it became the only source of supply for the Lucas brand on 1 March. The agreement includes all Lucas automotive and commercial vehicle batteries for the UK and Eire.
Schaeffler Group seized control of Continental AG’s supervisory board on 24 January. The Emergency General Meeting (EGM) held at the weekend concluded with chairman Hubertus von Gruenberg stepping down, reportedly to be replaced by Rolf Koerfer, a long-term Schaeffler Group legal aid and partner at Dusseldorf- based law firm Allen & Overy. At the same time, the ball bearing maker was able to negotiate the nomination of group owners Maria-Elisabeth Schaeffler and Georg Schaeffler, not to mention company CEO Dr. Jürgen M. Geißinger to the Conti board.
This shift in the balance of power led to the supervisory board “taking note” of Conti executives’ suggestion to “initiate a process to create an organizationally and legally independent Rubber Group.” In Schaeffler’s words, to “carve out” the rubber group into a separate entity. According to the company, this process will be overseen by the current (but apparently outgoing) chairman of the supervisory board, Hubertus von Grünberg. So while von Grünberg “wants to make his chairmanship available at short notice” he will continue to be a member of the supervisory board.
(Akron/Tire Review) New research by CK Commercial Vehicle Research indicates that the Class 8 tractor business may be picking up this, quarter, According to the research firm, 32 per cent of respondents to its Second Quarter Fleet Sentiment survey say they plan to place orders for power units in the next months.
According to CK Commercial Vehicle Research, that result was nearly identical to the 34 per cent who planned purchases during the first quarter of 2007.
As part of a long-standing relationship with the maker of some of Britain’s best loved sports cars, Avon Tyre Racing has developed special ultra-high performance road and race tyres for the 155 mph Caterham Seven CSR.
It was with great sadness that we learned of the death of George Marshall on December 15th 2004, aged 81.
George was well known in the tyre industry throughout the world, having edited Tyres & Accessories magazine since January 1971 and having been owner and publisher of the title from September that year until September 1987.
Having spent his early career running his own tyre retreading and retailing businesses, George had a thorough knowledge of the industry, both from a practical and political viewpoint. His achievements were many, having been instrumental in founding the Brityrex exhibition in the UK and its South African and Australian equivalents, Satyrex and Austyrex. George also played a role in the foundation of the Imported Tyre Manufacturers Association and the Tyre Wholesalers Association in the UK.
His lifetime spent in the tyre industry was recognised internationally, when he was honoured by the AMF (TEI) at Essen in 1986 and presented with the Industry Leadership Award by the American Retreaders Association in 1987. George received another accolade from the ARA when he was inducted into their International Tire Retreading and Repairing Hall of Fame in April 1995.
George Marshall was a striking figure, instantly recognisable and known to tyremen all over the world; he was definitely his own man, with his own ideas and some of these were not universally popular. Nevertheless, whether you liked him or not, or agreed with him or not, you could be sure that his views were honestly held. It is a mark of the man that those who he criticised in print will be as saddened at his passing as those who he counted as his friends.
As far as Tyres & Accessories is concerned, George was instrumental in rescuing what was a moribund trade magazine and building it up to become the best-respected journal in the industry, not just in the UK, but globally.
George leaves a widow, Edna, to whom Tyres & Accessories extends deepest sympathy; a sentiment no doubt echoed by George’s many friends in the worldwide tyre community.
But, as so often in the past, let George Marshall have the last word. Here is an extract from the last Editorial column that he wrote for Tyres & Accessories in September 1987. The article was entitled “It’s been a great 16 years!” and it sums up George Marshall’s life in tyres, as he wrote thus:
“Never in my wildest dreams did I, when I took over T&A, even think that I would see so many parts of the world and make friends and meet so many tyremen in so many different countries. Nor did I ever think I would become a public speaker at tyre functions around the world.
“I count myself as one of the luckiest men in the tyre industry for having been able to put back into it something it has given to me – a remarkably eventful and enjoyable life.”
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.