Analysts: Conti 3Q inline, but will wintry weather help?
While financial analysts were not more than satisfied with what they characterised as an “in-line” set of third quarter financial results from Continental AG, a spell of cold weather could be just the tonic for the German tyre maker which is strong in winter tyre sales.
Continue ReadingSailun Tyres Europe team grows
Sailun Tyres has announced details of a string of new appointments to its European sales team. The first was the appointment of Martin Lumb as new business development manager, Europe & Middle East. Lumb joins the Sailun team from 1 November 2012 having previously worked for Infinity and Goodyear.
Continue ReadingGoodyear sales/volumes down in third quarter results
At the close of last week, Goodyear Tire & Rubber Company reported results for the third quarter of 2012 showing improved North American operating of US$130 million (up 67 per cent year-on-year), but also significant volume decline (down 12 per cent year-on-year).
Continue ReadingAnalysts: Michelin results ‘a good third quarter’
Financial analysts welcomed the relative good news of Michelin’s third quarter/nine-month results, which saw sales rise despite lower volumes and followed profit warnings from Nokian and Delticom respectively in the week before. As a result Deustche Bank upgraded its operating profit expectations to 2.55 billion euros, 9 per cent above consensus.
Continue ReadingMichelin sales up 6 per cent in the first nine months of 2012
Michelin has reported sales of 16.142 billion euros in the first nine months. The figure, which represents a 6 per cent increase compared with the same period last year, comes despite slow demand and continued pressure in the economic environment especially in mature markets. However, despite the increase, sales volumes were down 6.7 per cent, with the overall improvement being explained by product mix and raw materials-related price increases.
Continue ReadingKortokrax named Cooper manufacturing VP
Phil Kortokrax has been appointed vice president of manufacturing for North American tyre operations at Cooper Tire. Kortokrax joined Cooper more than 20 years ago, beginning in Information Technology and moving into manufacturing leadership roles at the company's Findlay plant. In 2000, he returned to Cooper corporate offices as manager, and then director, of internal auditing. Five years later, Kortokrax became general manager of Max-Trac Tyre Co. Inc. (Mickey Thompson), a subsidiary of Cooper. In 2008, he returned once again to Cooper's corporate offices as VP of dealer channel sales.
Continue ReadingDan-Totsu – more details of Bridgestone's five-year plan
While announcing its five-year business management plan in which it expects to spend 280 billion yen ($3.3 billion) in calendar year 2013 to expand tyre capacity in emerging markets, Bridgestone Corp. also said it aiming at annual sales growth of 5 per cent and 10 per cent operating income ratio, the tyre manufacturer said it would seek diverse sources of raw materials and combine products and services in pursuit of its goals.
Continue ReadingOudshoorn to leave Apollo Vredestein
Rob Oudshoorn, CEO Apollo Vredestein BV, is to leave the company on 31 December 2012 after 18 years as CEO. Luis Ceneviz, currently CEO of Apollo Tyres South Africa has been named as his “intended successor”. According to the company, Oudshoorn will be joining the executive board of the Dutch Company Pon Holdings. Apollo representatives said they wish him “all the best in his new endeavour,” in a statement announcing his departure.
Continue ReadingCooper appoints marketing VP
Cooper Tire has appointed Michael Simon to the post of Vice President – Strategic Marketing and Planning, North America Tire Operations. With a career in the automotive sector that spans nearly three decades, Simon spent 20 years with Goodyear, starting as a new college graduate in 1985, and through a number of increasingly responsible positions. Following Goodyear, Simon joined Eaton Corp. as Director of Sales, Performance Products and Aftermarket Division, where he focused on the $2 billion Automotive Group's non-traditional growth segments.
Continue ReadingGiTi Tire appoints German TBR Sales, Marketing manager
GiTi Tire has appointed Michael Kaletta as national Sales and Marketing manager for truck and bus tyres. Kaletta will be responsible for all aspects of the commercial vehicle tyre market, including the formulation and delivery of growth targets through a dedicated sales team. The appointment is designed to strengthen GiTi Tire’s German operation significantly, though the five members of the sales team already possess over 100 years of collective experience in the sector. Kaletta will report directly to Richard Lyons, managing director – GiTi Tire Germany, and play a key role in further establishing the profile of GiTi Tire’s leading brand, GT Radial as a “leading mid-tier proposition with an excellent price per kilometre delivered through a seamless buying experience”, GiTi Tire said.
Continue ReadingNTDA chairman Stephen Callow in focus
Lest anyone ask “who’s that giving this year’s speech”, NTDA chairman, Stephen Callow used the opportunity to give some background to how he came to hold this responsibility. In his words, he was like many in the wider tyre industry, “born with rubber in [his] veins.” He is a second generation tyre specialist thanks to the influence of his late father, Ronnie Callow. Ronnie, as Stephen explained in his inaugural chairman’s speech, was a “colourful” character – a description, he noted, that those who remember him would agree with.
Continue ReadingBandvulc’s O’Connell new TIF chairman
A new hand has taken hold of the helm at the Tyre Industry Federation. The trade association reports the election of Bandvulc Group managing director Patrick O’Connell as its new chairman, with immediate effect. O’Connell replaces Yokohama HPT Ltd managing director David Seward in the role.
Continue ReadingDelticom profit warning another negative point for tyre business – analysts
Following Delticom’s announcement of a profit warning, financial analysts have issued a warning of their own – Delticom AG could now witness market watchers slash their 2012 earnings estimates for the company by around 30 per cent.
Continue ReadingDelticom warns on profit outlook in 3Q results
Delticom has reported revenues of 280.4 million euros in the first three quarters of 2012, down some 5.8 per cent compared with the previous year. The preliminary results show that pre-tax profits (EBIT) amounted to 17.5 million euros, which suggests this figure fell by around a third compared with last eyar. By comparison, in the first nine months of 2011 revenues increased by 15.8 per cent to 297.7 million euros and EBIT by 23.3 per cent to 28.2 million euros. As a result of the “challenging market environment” Delticom warned investors that it is scaling back its EBIT goal for the current financial year to 7 – 8 per cent.
Continue ReadingBandvulc adds to fleet support and sales teams
Paul Searle has recently moved into Bandvulc’s sales team to take on the role of account manager. Paul joined Bandvulc in 2003, firstly in Bandvulc Tyre Contracts (BTC) and then the company’s sales operations team. According to the company he has supported the sales team for the past seven years and will continue to work on some of the current projects such as dealing with tenders, quotes and business proposals, but will also play a bigger role within the sales activities.
Continue Reading