2009 - Page 127 of 205 - Tyrepress

Schaeffler Group to Make 250 million euros of Savings

Schaeffler Group has announced that is to implement further cost adjustments, while trying to prevent layoffs. In the first quarter of 2009, the company’s Automotive division recorded a downturn of 33 per cent compared to the previous year, which has now stabilized at a level 25 per cent below last year’s. The Schaeffler Group’s Industrial division, which accounts for 40 percent of total sales, sustained losses of 12 per cent in the first quarter. At 7.5 billion euros, current sales expectations for 2009 are significantly below 2008 levels. In a statement the company said it does not expect the markets to return to 2008 levels until 2012 or 2013.

13th May 2009/by Tyrepress Editors

Alliance Launches 800/70R 38 HP Agricultural Tyre

Alliance Tire has announced the release onto the US market of its 800/70R 38 tyre as the newest addition to the 370 series for high-powered agricultural tractors and combines.

The heightened performance values are joined by a wide base to provide an additional 10 per cent on top of the load capacity as the normal section size (at the same pressure) it is designed to replace. The larger footprint should also help to reduce soil compaction and improve flotation, says Alliance. The company adds that the tyre possesses aggressive lugs with a non-skid depth of 78/32nds, rigid radial belts and a rugged nylon casing, and unique shoulder and mudguard design. The tyre is suitable for any soil conditions.

13th May 2009/by Tyrepress Editors

Ferrari to Quit F1?

Formula One’s off-track happenings continued to rival its race-days in terms of drama as the sport’s longest running and most successful team issued a stunning ultimatum, threatening to end its involvement if proposed budget cap rules are implemented next season.

FIA chief Max Mosley has proposed a system that would allow teams remaining within a £40 million budget cap to operate with fewer technological restrictions than those that chose not to. Ferrari argues that this would create a two-tier championship stating, “The same rules for all teams, stability of regulations, the continuity of… endeavours to methodically and progressively reduce costs, and governance of Formula 1 are priorities for the future. If these indispensable principles are not respected, and if the regulations decided for 2010 will not change, Ferrari does not intend to enter its cars.”

12th May 2009/by Tyrepress Editors

CEAT Tyres Inaugurates First Wheel Management Centre

In India CEAT Tyres has opened its first wheel management centre at Sankagiri in Tamil Nadu. The Economic Times reports that the centre is set to be a hub for the service and maintenance of truck radials.

The company’s vice president, sales and marketing, Arnab Banerjee told the paper, “Service and maintenance of a tyre means proper alignment, greasing and retreading in periodic intervals, nitrogen filling in tyres, and various other measures to improve tyre life and fuel efficiency of the vehicle.” He also suggested that the centre would be used for driver-based training.

It is reported that the company is tapping into the local industrialised market of 10,000 trucks, 25 per cent of which run on radials compared to the Indian average of 10 per cent.

12th May 2009/by Tyrepress Editors

Financing Deal on New Goodyear HQ Agreed

On Monday Akron and Summit County authorities in Ohio signed off on a new financing deal for the Goodyear Riverwalk project. The financing is a major step towards an estimated $900 million project that includes a new global headquarters for Goodyear Tire & Rubber Co., retail and office space and a hotel in East Akron. National City Bank has agreed to buy $17.2 million worth of bonds issued by the Summit County Port Authority and backed by the county and city, thus kick-starting the plans. The project was unveiled in late 2007, and was a major factor in keeping Goodyear and its 2,900 jobs in Akron.

12th May 2009/by Tyrepress Editors

Starco Launches New ATV Range in UK

Starco has announced the launch of its new range of low cost, good quality ATV tyres. The brand, which has been previously established on the US market, will run alongside Starco’s existing Kenda line up, a move that the company says will offer customers greater choice.

The range includes both crossply and radial sizes and is available with a choice of tread designs to suit all applications and conditions. Starco’s warehouse in Rugeley, Staffordshire holds £3 million of stock, comprising comprehensive ranges of wheels, tyres and tubes for not only ATV but also turf, wheelbarrow, high speed trailer, industrial forklift, implement, skid steer and small materials handling applications. In response to customer demand and market trends, the ATV addition to the existing range is designed, says Starco, to maintain the company’s position as a major supplier of ATV tyres from the premium to the budget end of the market.

12th May 2009/by Tyrepress Editors

Continental OE on Freightliner M2 Trucks

Continental Tire North America, Inc. is to supply Freightliner with original equipment tyres for all its Freightliner Business Class M2 medium-duty trucks. In addition, Continental’s range of commercial vehicle tyres will be optional on other Daimler Trucks North America LLC (DTNA) brands including Western Star trucks, Thomas Built buses, Freightliner Custom Chassis Corporation chassis and all other Freightliner vehicles.

Melissa Clausen, Freightliner Trucks’ director of product marketing commented: “Continental’s heavy steer tyres complement our proven engineering for the Business Class M2 trucks. The M2 is designed for maximum reliability and fuel efficiency, and this is what we found in Continental’s product offering.”

12th May 2009/by Tyrepress Editors

Michelin to Feature on Recession Documentary

Michelin’s Campbell Road retreading facility will feature in a documentary about how manufacturing companies are coping with the recession. According to a report in the Sentinel, factory manager Peter Marsh and three shop floor workers feature in ITV1’s Tonight programme on May 18. Michelin employs around 1,200 people at its Campbell Road factory in Stoke and is one of several companies trying to avoid redundancies through flexible working agreements with employees and trade unions.

12th May 2009/by Tyrepress Editors

Dow Europe May Divest Synthetic Rubber Wing

According to reports, Dow Chemical Company has said that its Dow Europe GmbH (Dow) subsidiary is “exploring divestiture options for its synthetic rubber business.” No further details or timeframe have been released at this stage, however, the move is being seen as part of the company’s ongoing work to streamline its portfolio of businesses. Dow’s Synthetic Rubber business produces and distributes synthetic rubbers. The business is located in central Germany and includes five production plants and a research centre in city of Schkopau.

12th May 2009/by Tyrepress Editors

11 Illegal Immigrants Found Hiding in Motorsport Tyres

UK Border Agency officers working in Calais have stopped an attempt by 11 illegal immigrants to smuggle themselves into the UK – hidden in a lorry load of racing tyres. According to the Home Office, the French registered lorry was stopped at 08:04 on 30 April.

12th May 2009/by Tyrepress Editors

Sumi Rubber Indonesia’s 100 Millionth Tyre Rolls Out

P.T. Sumi Rubber Indonesia, Sumitomo Rubber Industries’ Indonesian subsidiary, produced its 100 millionth tyre on Monday 27 April 2009. Sumi Rubber Indonesia started operation in April 1997 as Sumitomo Rubber’s first tyre production base in Asia. The Indonesian company has since supplied tyres in Indonesia, Japan and globally. At the same time, the company worked actively on reduction of burden on the environment and obtained ISO14001 certification in August 2003. It attained the zero emission in December 2004 and the complete zero emission in August 2008 as one of the companies to obtain it fastest in Indonesia. The factory employees 3000 and produces 4200 tons a month, according to company literature.

12th May 2009/by Tyrepress Editors

NASDAQ Chastises Hayes Lemmerz Over Late Results Publication

On 4 May 2009 Hayes Lemmerz International, Inc. received an exchange listing non-compliance letter from the Nasdaq stock exchange notifying the company that it was “no longer in compliance with the rules for continued listing according to Listing Rule 5250(c)(1),” which refers to the prompt publication of financial results. According to a statement issued by Hayes Lemmerz, the letter comes as a result of its failure to file its annual report on Form 10-K for the fiscal year ended 31 January 2009 with the US Securities and Exchange Commission. Hayes has until 3 July 2009, to submit a plan to regain compliance with Nasdaq’s continuing listing standards. The company says it expects to file its Form 10-K on or before 15 May 2009. The notification has no effect on the listing of the common stock of Hayes at the moment.

12th May 2009/by Tyrepress Editors

Yokohama Rubber Posts Net Loss in Latest Fiscal Year

Yokohama Rubber Co., Ltd., has posted a net loss of 5.7 billion yen (£38.7 million) for the financial year ended 31 March 2009, compared with net income of 21.1 billion yen (£142.6 million) in full-year 2008. This came as a result of operating income declining 61.3 per cent, to 12.8 billion yen (£87 million), on a 6.2 per cent decline in net sales, to 517.3 billion yen (£3.5 billion). The company’ s Tire Group saw operating income plummet 62 per cent, to 9.9 billion yen (£67.4 million), on a 4.8 per cent decline in sales, to 399.7 billion yen (£2.7 billion).

12th May 2009/by Tyrepress Editors

MotoGP Competition “Tight” with Single Tyre Supplier

Previewing the fourth round of this year’s MotoGP championship, which takes place at Le Mans at the weekend, Hiroshi Yamada predicts that competition will continue to be fierce following the presence of three different riders at the top of the leaderboard after each of the first three Grand Prix weekends: “We’ve now had three races of this new season with Bridgestone supporting all riders and teams as the series’ Official Tyre Supplier, and in this time I am very pleased to have seen three championship leaders. Casey is only 11 points behind Valentino and Jorge and Dani are tied on points for third position, so we could see another change at the French Grand Prix.

“Valentino will want to win to keep himself on-track for his 100th victory in Mugello and Casey will want to make amends for last year’s race, but Jorge and Dani are also fast at Le Mans, Colin Edwards has performed well there in the past and after his excellent fourth position in Jerez, Randy de Puniet will carry a lot of confidence into his home grand prix so I think competition at the front will be tight. We had full wet race in 2007 and last year rain fell in the middle of the race, so I hope this year we will have another exciting battle but with dry conditions!”

12th May 2009/by Tyrepress Editors

Goodyear Dunlop to Consult Over ‘Defined Contribution’ Pension Scheme

Goodyear Dunlop Tyres UK Limited is to consult with pension trustees, trade unions and employee representatives over the introduction of a new Defined Contribution (DC) Pension scheme. According to a company statement, the proposed scheme would replace both the company’s ‘Hybrid Scheme’ (combined Defined Benefit final salary and Defined Contribution) and ‘New Hire’ DC scheme. Approximately 850 employees are in the Hybrid scheme and 70 in the ‘New Hire’ scheme.

The consultation will be on the proposed replacement of the current schemes with a new enhanced defined contribution programme. Those who are currently paying into the Defined Benefit (DB) scheme will have their accrued benefits deferred, and the company are proposing the introduction of a new DC scheme for future service to add to the members’ existing benefits.

11th May 2009/by Tyrepress Editors

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