![Court dismisses Cooper appeal](https://www.tyrepress.com/wp-content/uploads/2013/12/delaware.jpg)
Court dismisses Cooper appeal
Three days before Cooper Tire & Rubber’s scheduled appeal hearing, Delaware Supreme Court has dismissed the tyre maker’s appeal. A court filing signed by Justice Randy J. Holland stated that “based upon the filings by the parties, the Court has concluded that this interlocutory appeal was improvidently accepted”, or in other words it shouldn’t have been accepted by the court to start with.
Continue ReadingLanxess rubber chemical prices to rise
New Year, new prices. As of 1 January, German specialty chemicals firm Lanxess will increase prices for the rubber chemicals supplied by its Rubber Chemicals business units. The company says this move is necessary to offset raw material cost increases expected in the first quarter of 2014.
Continue ReadingBekaert in talks to buy Pirelli steel cord business, says paper
According to an article published in Italian newspaper La Repubblica today, Pirelli intends to divest its ‘Steelcord’ business and has attached a €250 million price tag to it. The publication says Pirelli is now in the final stages of negotiations with Bekaert regarding a potential sale.
Continue ReadingMichelin reports capital reduction
Pursuant to the decision made by its chief executive officer on 9 December and the second resolution of the company’s 17 May 2013 Shareholders Meeting, Compagnie Générale des Etablissements Michelin has decided to cancel 1,809,260 treasury shares, representing 0.97 per cent of its total outstanding shares. The effective date of the resulting capital reduction is 12 December, 2013.
Continue ReadingUSW deal over Cooper plants reached, says source
According to an unconfirmed report, the United Steelworkers union has reached an agreement with Cooper Tire & Rubber regarding labour contracts at Cooper’s Findlay, Ohio and Texarkana, Arkansas plants. Financial website The Street wrote on 12 December that “a source close to the matter” said the USW has “worked out tentative agreements with Cooper based on potential outcomes.”
Continue Reading![The end in Anagni – Marangoni explains why it’s leaving the new tyre business](https://www.tyrepress.com/wp-content/uploads/2013/12/np-Marangoni-De-Alessandri-und-Fincato.jpg)
The end in Anagni – Marangoni explains why it’s leaving the new tyre business
For Italy’s Marangoni Group, the decision about the future of its new tyre production plant in Anagni (near Rome) and its 400 employees was not an easy one to reach. Yet after many years of losses running into the millions and no prospect of this improving in the future, in September the company penned the final chapter on its almost quarter-century long engagement in new tyre production – and despite the difficult nature of this decision it comes as a weight off the shoulders for Marangoni’s management, and they are sanguine about devoting all their attention to the core retreading business in future and making strategic investments there. Speaking with Tyres & Accessories, Marangoni CEO Massimo De Alessandri explains what factors went into making the decision, which mistakes were made in the past, why the foray into new tyre production was understandable but – in hindsight –perhaps inadvisable, and what the Marangoni Group now plans going forward.
Continue ReadingConti: Labelling beginning to have an effect
There are already signs that European tyre labelling is having an effect on the purchasing decisions of consumers, thats the view of Continental representatives shared at the company at its recent annual trends briefing in London. Contis reading of market response to labelling follows a number of different view proffered by other manufacturer, supplier and retail sources. So far much of the data has suggested that the label is unused or unoffered and so therefore doesnt have much influence.
Continue Reading![Award throws spotlight on Contidrom’s test facilities](https://www.tyrepress.com/wp-content/uploads/2013/12/contidrom-award.jpg)
Award throws spotlight on Contidrom’s test facilities
The Contidrom test facility operated by Continental near its Hannover headquarters in Germany has been named ‘Proving Ground of the Year 2013’ by Automotive Testing Technology International magazine. The 12-person judging panel presiding over the 2013 awards are said to have been particularly impressed by the Automated Indoor Braking Analyzer (AIBA) facility, which opened at the Contidrom site in autumn 2012.
Continue Reading![Conti to double Otrokovice TBR capacity, widen export programme](https://www.tyrepress.com/wp-content/uploads/2013/12/np-otrokovice.jpg)
Conti to double Otrokovice TBR capacity, widen export programme
The Continental truck and bus tyre factory in Otrokovice, Czech Republic will be significantly expanded, the tyre maker announced today. A total of €165 million will be invested over a period of five years to ultimately double truck and bus radial production capacity at plant to close on 1.5 million units per annum. More than 300 new jobs will be created throughout all production areas, and the enlarged plant will service the American and Russian markets in addition to the areas it currently supplies.
Continue Reading![Tereos joins BioButterfly, signs agreement with Michelin](https://www.tyrepress.com/wp-content/uploads/2013/12/np-tereos.jpg)
Tereos joins BioButterfly, signs agreement with Michelin
The world’s fourth-largest sugar producer, Tereos, has joined the French BioButterfly project to develop and roll out a process for producing bio-butadiene. The company has signed a partnership agreement with Michelin that focuses on the industrial transformation of agricultural raw materials; this partnership aims to strengthen the upstream phase of the BioButterfly project.
Continue Reading![Mitas signs Claas OE deal](https://www.tyrepress.com/wp-content/uploads/2013/12/Mitas-signs-up-CLAAS.jpg)
Mitas signs Claas OE deal
Mitas has announced that the Czech tyremaker signed a long-term agreement with Claas at the recent Agritechnica event. “Our cooperation with CLAAS is excellent. We are continuing our collaboration, which dates back to 2004, when Mitas acquired the Continental farm tyre manufacturing division,” said Andrew Mabin, Mitas’ marketing and sales director.
Continue ReadingTitan announces Q4 dividend
The Board of Directors of Titan International has approved a quarterly cash dividend of US$.005 (one half cent) per common share for the fourth quarter of 2013. The cash dividend is payable 15 January 2014, to stockholders of record on 31 December 2013.
Continue ReadingTerex sell rigid truck business to Volvo for US$160 million
Terex Corporation has agreed to sell its truck business to Volvo Construction Equipment for approximately $160 million. The truck business manufactures and sells off-highway rigid and articulated haul trucks. The deal includes the firm’s Motherwell, Scotland manufacturing facility. The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in the first half of 2014.
Continue ReadingAeolus launches 5-language European website, Facebook page
Aeolus reports that its new aeolus-europe.com is now live and offering information for tyre professionals and other visitors in five languages. The site presents company and product information in English, French, German, Italian and Spanish.
Continue ReadingRevenues down, profits up at Stamford Tyres
Singapore-based Stamford Tyres has posted a S$4.85 million (£2.36 million) profit in the second quarter of its current financial year, a marked contrast to the $2.97 million loss reported a year earlier. Revenue for the three months to 31 October 2013 amounted to $71.5 million (£34.8 million), down 12.1 per cent year-on-year. The company says the lower revenues are mainly attributable to weaker export sales of Sumo Firenza tyres and mining tyres.
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