Bridgestone cautious about profit growth due to Europe crisis
Bridgestone executives have aired a degree of caution relating to the tyre major’s earnings outlook for this year. According to various news sources Bridgestone Corp.'s chief financial officer on suggested the impact of the euro-zone debt crisis is affecting demand, which in turn is weighing on its business.
Continue ReadingHampson Al Dobowi’s new business development head
The Al Dobowi Group has appointed Nigel Hampson to the position of head of business development. Previously Hampson had worked for Cooper Avon Tyres and Cooper Tire Europe since 1996 in several managerial roles in the company. He was most recently sales and marketing director for Europe, Middle East and Africa, before joining the Al Dobowi Group.
Continue ReadingFritz Schaad retires – dual wheel production continues under Starco brand
From humble beginnings on their father’s farm, Fritz and Rudi Schaad began the manufacture of what is now recognised as one of – if not the best – dual wheel systems on the market. Now, After 50 years in the business, Fritz Schaad has announced his retirement from daily management from the Swiss company, where he had been responsible for sales and marketing for many years. Despite his retirement Fritz will, along with brother Rudolph, continue to support the company, which has been part of the Starco Group for the last five years. Rudolph has announced plans to retire in 2014, and leadership of Starco Schaad is now in the hands of Sven Holmes, who has been who has been working at the Schaad factory for nine months in preparation for assuming responsibility of the company established by the Schaad brothers.
Continue ReadingBarry Hill celebrates 40 years at Kings Road Tyres
Kings Road Tyres’ group credit control manager, Barry Hill, recently celebrated the achievement of completing 40 years unbroken service with the company. Hill joined KRT at the Southampton location in 1972 and spent 34 years at the centre before a career change saw him appointed as group credit control manager based in Hayes in 2006.
Continue ReadingHankook acknowledges employees’ long service
Hankook recently celebrated the long service of a number of its employees at the company’s UK head office in Daventry, Northamptonshire. Barrie Horrocks, Hankook UK sales director and Ian Mayoll, UK PCR sales manager were both recognised for their 10 years service at Hankook Tyre UK Ltd. They were joined by several other members of the Hankook team as Tracy Martin (accounts assistant), Liz Coles (credit controller), Ben Francis (franchise manager) and Paul Field (logistics administrator) were also congratulated for their dedication.
Continue ReadingNokian results 9% ahead of consensus
Nokian’s recently reported first quarter 2012 financial numbers were 9 per cent ahead of consensus when it came to pre-tax profits (EBIT). In addition the Finnish firm’s revenue result during the same period was 5 per cent higher that average of market analysts expectations. According to analysts at Morgan Stanley, Nokian’s margin was also 100 basis points better than expected at 27.3 per cent. In fact the only cloud on the horizon was said to be net debt which was weaker than estimates perhaps because of high working capital.
Continue ReadingFinancial analysts describe Pirelli results as ‘a big beat’
While financial analysts described the results as “a big beat”, on the day the news was announced Pirelli’s share price fell 10 per cent. Pirelli pre-tax profitability was said to have been better than consensus of analysts’ estimates, mostly due to better price/mix and cost control. Market watchers also welcomed the fact that margins are at record levels.
Continue ReadingPirelli pumps up profitability in 1Q, but shares down 10% after announcement
Pirelli & C. SpA has announced first quarter revenues of 1.556.5 billion euros, up 11.1 per cent compared with 1,400.9 million euros in 31 March 2011. Pre-tax profits (EBIT) after restructuring charges grew by almost half to 209.4 million euros (up 46.1 per cent compared with 143.3 million in the first quarter 2011).
Continue ReadingGoodyear Dunlop moves two to Dunlop Motorsport, Birmingham
Dunlop Motorsport at Birmingham’s Fort Dunlop is described as one of the best design centres in the business, with the flexibility to produce prototypes in days and manufacture short runs of tyres specifically for the various circuits visited by the tyre supplier every year. Goodyear Dunlop has recently made two new appointments at the facility; Vincent Van Goor moves from the Luxembourg-based Innovation Centre to take up the role of senior design engineer for car, while John Astbury makes a shorter hop from Wolverhampton to his new role as QTech Manager UK.
Continue ReadingGoodyear's Laura Thompson “Outstanding Woman In Finance”
Treasury & Risk magazine's 2012 list of "30 Outstanding Women in Finance" includes Laura K. Thompson, vice president, finance for The Goodyear Tire & Rubber Company's North American Tire business. Thompson directs finance for the company's largest business unit, with annual sales of nearly $10 billion. She previously served as vice president of business development, is also the executive in charge of developing Goodyear's new headquarters in Akron, Ohio.
Continue ReadingYokohama 1Q operating income quadruples to 9.3 billion yen
The Yokohama Rubber Co., Ltd., has reported that first quarter net sales (1 January to 31 March) increased 7.4 per cent over the same period of the previous year to 135.3 billion yen. At the same time operating income increased 403.3 per cent, to 9.3 billion yen; and net income increased 389.7 per cent, to 8.8 billion yen. According to the company, the first-quarter sales growth reflected strong gains in OE sales to Japanese OEMs as well as progress in raising prices for tyres and other products.
Continue ReadingPirelli introduces designer, App-enabled Annual Report
Pirelli’s 2011 annual report will reflect the tyre manufacturer’s “broader narrative”, presenting detail that goes beyond the numbers in an attempt to capture the spirit of Pirelli. The company said the project will include Art Deco inspired illustrations reflecting the tyre-maker’s values, in addition to texts by internationally renowned authors HM Enzensberger, Guillermo Martinez, William Least Heat-Moon and Javier Cerca. A summary of the report will also be available through a free iPad App.
Continue ReadingPirelli reshuffles executives
Following official confirmation of the resignation of Pirelli COO Francesco Gori, the company has detailed revisions to organisational model. According to the company, Pirelli has decided to reinforce its technological and commercial organization apparently completing a re-definition which began in October 2011. As a result Pirelli will replace its “executive office” with two new roles reporting directly to chairman and chief executive officer Marco Tronchetti Provera.
Continue ReadingFranceso Gori steps down from Pirelli
Pirelli’s Dr Francesco Gori is stepping down from his position as the company’s chief operation officer. The announcement follows continued speculation as to the future of Dr Gori, which began with newspaper reports that he was leaving to take up a new position outside of the tyre business. A terse statement confirming the news simply stated the fact that Gori is subject to a three-year non-competition clause and that “the company expresses its appreciation to Francesco Gori for the significant contribution to the Group’s results and development made in 33 years of service.” No details were given as to exactly when this decision takes effect.
Continue ReadingApollo’s 2011 sales topped US$ 2.5 billion
Apollo Tyres Ltd has released fourth quarter and full-year 2011 results that show revenues across operations in Asia, Africa and Europe, grew 37 per cent to 121.5 billion rupees (£1.409 billion; 1.81 billion euros; US$2.5 billion). According to the company, Indian operations grew fastest (up 49 per cent) while the firm’s Europe business saw a growth of 27 per cent. Apollo’s African operations witnessed 10 per cent growth.
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