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Hankook continues upward trajectory

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Hankook’s results for the second quarter (April-June) of 2013 continue to show steady growth with operating profit up 11.3 per cent and sales up 1.4 per cent year on year. The company achieved a global sales revenue of KRW 1.87 trillion (1.276 billion euro) in the quarter, with operating profit marked at KRW 271.3 billion (185.2 million euro). The company stated that increased sales in the ultra-high performance tyre sector and premium brand equity helped it secure solid sales increases in its major markets.

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Goodyear income 39% above consensus

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Goodyear Tire & Rubber has announced what it says are record second quarter earnings, and even its European business showed signs of improvement. Net income more than doubled year-on-year from $85 million in Q2 2012 to $181 million, or $0.67 per share. This exceeded the average analyst estimate by $0.19, and company chairman and CEO Richard J. Kramer said the result demonstrates “the disciplined execution of our strategies by Goodyear associates around the globe as our operations become more efficient, reliable and integrated.”

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BFGoodrich, USW reach agreement

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BFGoodrich has joined Goodyear and Bridgestone in reaching a tentative agreement with the United Steelworkers. The tyre maker and union negotiating teams have nutted out a three-year contract covering 2,400 workers at the company’s Tuscaloosa and Fort Wayne plants in the US.

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  4. Union members ratify Bridgestone contract
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CST global website launched

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Cheng Shin Rubber has unveiled a new global website for its CST tyre brand. The company says it aimed to develop a user-friendly site that features a responsive design, one that allows customers to “seamlessly find the tyre that best suits their passion.”

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Transport MP visits Goodyear Wolverhampton

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Parliamentary Private Secretary (PPS) to the Secretary of State for Transport, Gavin Williamson visited the Goodyear factory in the West Midlands last week. The famous Wolverhampton factory has been developing tyres for 85 years in the region and is now a ‘Centre of Excellence’ for retreaded truck tyres.

Gavin Williamson MP started: "Goodyear are an important employer for the local area. My constituency starts at the edge of Wolverhampton so many of my constituents will be working at the plant. It is an important local employer and important local investor in the West Midlands.”

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Top 10 excuses for not buying a tax disc

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A motorist who claimed to have taken so much Viagra he could not leave the house was just one of a number of excuses from people who failed to tax their car.
According to information released by DVLA, motorists caught for not having a tax disc last year used a variety of excuses, which included "My mate said that if the cost of the tax is more than what the car's worth you haven't got to pay it."
One motorist claimed to have fallen out of a tree while fruit picking and broke both arms so they could not fill in the necessary forms, while one motorist even blamed their mobile phone.

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Comparative tyre test highlights grey import risk

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Chinese tyres often rank poorly in comparative tests undertaken by European publications, unable to match the performance of premium rivals. But what sort of tyres do these premium manufacturers themselves produce for the Chinese market, and how would they fare against their European market siblings? German motoring magazine Auto Bild assigned its staff the task of finding out, and the results were interesting.

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Goodyear, Bridgestone Reach Deals with USW

Both Goodyear Tire & Rubber Co. and Bridgestone Americas have reached tentative agreements with the United Steelworkers (USW), avoiding strikes in several plants across the US.

Goodyear reached a tentative agreement with USW on 27 July, the deadline for its former contract. The deal, covering 8,500 employees, still needs to be approved by the majority of the six local USW unions.

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RTA Creates New Website

The Retread Tire Association has launched a new website at www.retreadtire.org.
The site will be under construction, but active, until RTA “achieves its goal of being the most complete site for retreading and tire repair,” according to the association.

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ECI announces 2014 Brityrex dates

Exhibition organisation company ECI International has announced dates for the forthcoming 2014 British tyre exhibition, Brityrex International, which will run from 7 – 9 October 2014. Like the last edition of the show, the 2014 event will once again be held at the EventCity exhibition centre in Manchester.

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Singex buys ECI, Tyrexpo shows

ECI International is now a wholly-owned subsidiary of Singex-ECI International Pte Ltd following the company’s acquisition by Singex Exhibition Ventures (SEV). According to the companies, the Tyrexpo series of events (including Brityrex in the UK) will continue to be marketed as “An ECI International Event” providing all exhibitors, supporters, partners and visitors with a joint commitment to service excellence. Working closely with ECI founders, Paul Farrant and Rowena Suthers, this will include expansion into new market segments. As a result of the investment SEV reports that it will put its “full resources” to work on the organisation of future Tyrexpo events, to assist them reach their full potential.

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Evonik boosting Thailand silica capacity

Demand for low rolling resistance tyres, and the materials necessary for their production, has far from peaked. Evonik Industries believes demand will rise by 18 per percent a year for the coming five years, and has responded to this expected growth by increasing capacity for silica. The company plans its silica capacity to reach 30 per cent above 2010 levels by 2014, and part of this increase will come through an expansion of its Maptaphut site in Thailand.

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Goodyear names Kaczynski VP, investor relations

The Goodyear Tire & Rubber Company announced today that Tom Kaczynski has joined the company as vice president of investor relations. He will report to Darren R. Wells, executive vice president and chief financial officer. Kaczynski joins Goodyear from Affinia Group Inc., where he had been vice president and corporate treasurer. At Affinia Group, Kaczynski established the company’s treasury office and led financing and investor relations activities.

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Goodyear, USW progressing towards deal

Strike action at Goodyear plants in the US has been averted following the announcement of a tentative agreement between the tyre maker and the United Steelworkers union. On the evening of Saturday 27 July, as the clock ticked away on the previous four-year contract, the two parties reached an understanding over a four-year labour agreement that covers some 8,500 employees at Goodyear’s Buffalo, Topeka, Fayetteville, Danville, Gadsden and Akron plant.

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Michelin to comment on F1 supply

According to Germany’s Auto Motor und Sport, Michelin intends to make an announcement regarding its stance on F1 tyre supply later this week. The publication believes the French manufacturer will voice its readiness to bid for the contract. The question is, it adds, when it would be ready to begin? Would Michelin be ready in time for 2014? That is unlikely, Auto Motor und Sport opines. It’s much too late for a tender covering 2014 as teams must be informed about tyre sizes by 1 September.

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