Goodyear to present at Citi Industrial Conference
The Goodyear Tire & Rubber Company will webcast its latest presentation at the 2012 Citi Global Industrial Conference in Boston on 19 September. Darren R Wells, executive vice president and chief financial officer, will provide a business overview and discuss the company’s strategies for approximately 40 minutes.
Continue ReadingContinental places first billion-dollar bond
Continental has placed US dollar-denominated bonds worth US$950 million with institutional investors in Germany and abroad. According to the company, the bonds have a seven year term and are being issued by Continental Rubber of America, Corp., USA, and guaranteed by Continental AG and selected subsidiaries. The annual interest rate will be 4.5 per cent and is substantially lower than the interest rate on the bonds issued by Continental in 2010. Interest will be payable semi-annually in arrears. The proceeds will be used for the early repayment of part of the debts scheduled to mature in April 2014.
Continue ReadingPirelli’s Fiochhi joins Sogefi
Guglielmo Fiocchi has left Pirelli for another Italian automotive supplier, Sogefi SpA, which has appointed him as general manager of the company. Fiocchi, who is 49, graduated in aeronautical engineering from the Milan Politecnico and brings long term experience in the automotive component sector.
Continue ReadingFalken appoints Matt Smith as UK & Ireland head
Following news of his departure from South Korean manufacturer Kumho yesterday, Falken has appointed Matt Smith to lead its activities in the UK and Ireland. Smith brings with him over 15 years’ experience working in the UK tyre industry. Smith is tasked with building sales of Falken’s fresh tyre range that includes five new launches since the start of the year.
Continue ReadingKumho Aims to Become Top Rubber Supplier
Kumho Petrochemical chairman Park Chan-koo has plans for the company’s future as a top global chemical-making company, marking over 20 trillion won in annual revenue with 20 original high-quality products that are number one in their respective sector by 2020.
Continue ReadingMatt Smith leaves Kumho
Kumho Tyre UK is set to appoint a new sales director for the UK and Ireland, following the departure of Matt Smith. According to the company, members of senior management team will take over his responsibilities until a successor is in place.
Continue ReadingAnalysts: Conti’s DAX re-entry won’t make immediate waves
Following the news that Continental AG shares will once again be traded on the German DAX list, financial analysts have been assessing the impact that this likely to make on the company’s share price. For its part Morgan Stanley estimated that the impact will actually be “relatively small from a trading perspective – circa 1-2 days of trading volume and circa 1-2 per cent of the current available freefloat.”
Continue ReadingLanxess to join DAX in September
Tyre manufacturing chemical supplier Lanxess AG is to join German benchmark index DAX 30, effective 24 September 2012, according to the Stock Indices Working Group of Deutsche Boerse AG. Lanxess shares closed at 60 euros on 5 September (the day the news was announced. The DAX (Deutscher Aktien IndeX) consists of 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the electronic Xetra trading system. According to Deutsche Boerse AG, the operator of Xetra, DAX measures the performance of the 30 largest German companies in terms of trading volume and market capitalisation.
Continue ReadingBridgestone Europe names new Consumer, Western region heads
Benoit Raulin has taken on responsibility for Bridgestone Europe’s French and Benelux markets after his appointment as managing director of the company’s Western region. He succeeds Eric Gaétan in the role following the latter’s appointment as managing director of Bridgestone Europe’s Consumer business unit in Brussels.
Continue ReadingECP adds crash repair warehouse, 10 new branches
Euro Car Parts reports that it has invested in a second storage facility, following the opening of its National Distribution Centre in Tamworth, Staffordshire in 2010. The 141,000sqft warehouse in Swadlincote, Derbyshire will primarily store crash repair stock including Platinum Plus product lines and the company has signed a 10-year lease agreement with GE Capital Real Estate for the Tetron Point distribution unit. ECP has continued to expand its network too, with 10 new locations announced. They are anticipated to open in the fourth quarter of 2012.
Continue ReadingConti ‘doing the Baartman’ in Sumter
The inaugural plant manager of Continental’s still under construction Sumter plant in the US has been named. South African Craig Baartman, a 18-year Conti veteran, will be responsible for the factory’s overall leadership of the facility which, according to Continental Tire the Americas’ CEO Jochen Etzel, is scheduled to open in late 2013.
Continue ReadingConti names new head of Americas truck tyre technologies
On 31 August, Roger Stansbie, currently director of truck tyre technologies for Continental Tire the Americas’ Commercial Vehicle Tire business unit, will retire. Stansbie intends to return to the UK following his retirement and will be succeeded in his US-based role by Czech Republic national Libor Heger, who has been employed by Continental AG and its associated companies for the last 13 years.
Continue ReadingPro-Align boosts head office team, warehouse capacity
Wheel alignment specialist Pro-Align says it is enjoying one of its most successful years ever, and to accommodate this it is expanding its administration and sales departments. Five new employees have joined the team at Pro-Align’s Towcester head-office which serves as a hub for its UK operations. They are; aftersales administrator Sophie Yeates, sales administrator Claire Simpson, accounts assistant Beverley Shepherd, marketing assistant Alastair King, while regional sales support is boosted by Stacey Hawkes.
Continue ReadingSchumaker named new Cooper Tire Europe sales and marketing director
Cooper Tire & Rubber Company Europe Ltd. has appointed Jeff Schumaker as sales and marketing director. Schumaker will be based in Melksham, UK, and will report to Cooper Tire Europe vice president and general manager Julian Baldwin.
Continue ReadingBridgestone OP beats analysts expectations
With Bridgestone having announced that first half operating profits grew 43 per cent year-on-year to 133.8 billion yen, the tyre manufacturer has upped its full-year operating profit guidance. Bridgestone had predicted that it would achieve 118 billion yen by this measure, with Deutsche Bank estimating nearer 136 billion yen. As a result the financial analysts now report that the company has lifted its full-year operating profit projections and is now looking at 50 per cent year-on-year growth to 287 billion yen (previous predictions were 269 billion yen, with Deutsche Bank expecting 316 billion yen).
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