CTNA Exceeds Environmental Goal in First Year
Continental Tire North America reports having officially exceeded its goal of increased compliance with the US Environmental Protection Agency’s SmartWay Transport Partnership during its first year of participation. Continental first joined the SmartWay Transport Partnership in June 2008 as a Shipper Partner, committing to reduce its environmental impacts from ground freight transportation. In joining the partnership, the tyre manufacturer agreed to use the Freight Logistics Environmental and Energy Tracking (FLEET) Performance Model for Shippers to quantify its environmental performance level. Continental was then required to maintain a score of at least 0.5 within the FLEET Performance Model.
Continue ReadingCooper Aims for Double-Digit Growth in China
Cooper aims to maintain its double digit growth in China over the coming years. The company’s vice president and general manager of Asia operations, Allen Tsaur, reports Cooper’s revenues in China last year to be close to five billion yuan, a figure he describes as contributing a “significant portion of Cooper Tires’ global revenue.”
Continue ReadingGoodyear, USW buy Time with 2 Week Contract Extension
Goodyear and the United Steelworkers of America have agreed to an extension of their national contract, taking their agreement up to 29 August.
Continue ReadingGet Out and About With Continental Tyres
Continental Tyres is promoting discount deals for family days out at over 300 attractions across the UK this summer.
Continue ReadingJust-auto publishes Fifth Edition of Global Tyres Market Review
Just-auto has published a new report on the global automotive tyre industry, including revised forecasts for the market until 2016. The 91-page fifth edition reviews emerging trends, such as the rising interest in run-flat, UHP and what the report calls ultra-fuel efficiency tyres, and offers exclusive interviews with senior executives of Bridgestone, Continental and Goodyear. The report is available on the marketsandcompanies.com website for download at a cost of £575.
Continue ReadingRecession Pressure a Safety Worry, Says Bridgestone
Manufacturer warns of the dangers of bowing to economic forces at the expense of tyre safety checks
Continue ReadingPan Autos of First Stop Golf Day Raises 1,900 for Jumbulance
Pan Autos, part of the First Stop network of tyre dealerships, has raised over £1,900 for a local charity at its annual charity golf day.
Continue ReadingAsian Tyre Stock Jumps on US Auto Rebate Extension
The possibility of an extension to the US’s “cash for clunkers” auto rebate scheme has led to a bump in Asian stock prices for shares in Bridgestone, Hankook and others, according to Reuters reports. The US senate is mulling over a plan to offer 200 per cent of the original funding for its car sales booster scheme, since the billion dollar pot quickly evaporated. Purchasers can claim a rebate of up to $4,500 when they trade in old models for new, green alternatives.
Continue ReadingDeutsche Bank Praises European Tyre Makers’ Margins
In its global automotive news brief, Deutsche bank has noted that while the three major European tyre companies experienced "very weak" volumes during the first half of the financial year, each of them reported strong resilient margins. Continental achieved an adjusted operating margin of 11.0 per cent, which was stable on the first half of 2008, Michelin 4.0 per cent (8.6 in the first half of 2008) and Pirelli Tire 7.6 per cent (8.8 per cent in the first half of 2008).
Continue ReadingKumho Experiences a Sense of Loss in Q2
The red ink was in demand at Kumho Tire during the preparation of its second quarter 2009 results. The South Korean manufacturer posted a net loss of KRW 98.3 billion (£48.15 million) during the three months to June 30. Sales in this period were down 23 per cent year-on-year to from KRW 614.3 billion (£300.90 […]
Continue ReadingApollo to Launch Full Range into Europe in 6-12 Months
Despite the fact that the Apollo/Vredestein takeover contracts were signed just a month before Tyres & Accessories visited Enschede, the integration process is said to be already well underway. What’s new is the announcement that in less than a year a full range of Apollo tyres will be launched into the European market. The newly merged Apollo Vredestein will be responsible for sales and marketing of all group brands in Europe. Of course when it comes to making major changes to the Apollo brand strategy this will have to be done in consultation with Delhi, but to all intents and purposes Vredestein will be masters of their own and Apollo's destiny within the bounds of the continent of Europe and the USA. In return Apollo will take the lead when it comes to selling Vredestein-branded tyres into the new Asian market territory the recent combination of the two companies brings.
Continue ReadingA New Beginning
On 15 May 2009 Apollo Tyre’s purchase of Vredestein Banden was completed with the signing of contracts ratifying a deal estimated to be worth between 175 million and 220 million euros. The new combined company, Apollo Vredestein BV, will operate as a wholly owned subsidiary of the Indian tyre giant Apollo, with full responsibility for selling all of both company’s tyre brands (Vredestein, Maloya and Apollo) in Europe. Having witnessed Amtel-Vredestein go to the wall earlier this year, observers agree that the company's previous alliance with the now defunct Russian tyre maker turned out - with the benefit of hindsight - to have been a mistake. Nevertheless Vredestein's re-marriage to an ambitious manufacturer with its own designs on European market access puts the new combined company just outside the top 10 global tyre manufacturers, somewhere around 12 or 13; fulfils Vredestein’s desire to find emerging market production capacity and a route into the related sales markets; and is being hailed as a new beginning for Dutch tyre maker. Tyres & Accessories recently travelled to Apollo Vredestein BV's Enschede headquarters and asked the newly merged company's CEO, Rob Oudshoorn, why it will be second time lucky for the tyre manufacturer.
Continue ReadingMichelin Announces Changes to Operations in France
Michelin has announced details of a project that it says will upgrade the company’s global research and development centre in Clermont-Ferrand and enable it to increase specialisation at a number of its industrial operations in France. The company claims this project “reflects the Group’s commitment to strengthening France’s role as Michelin’s strategic hub and innovation centre” and will enhance the productivity of its manufacturing operations in an increasingly competitive global marketplace.
Continue ReadingMichelin Cuts 1093 Jobs in France
Michelin is planning to reduce its French workforce by a total of 2,900 over the next three years. The job cuts, which include 1093 losses this year, equate to around 10 per cent of the tyre manufactures total domestic workforce. Michelin said it is cutting the positions in order to concentrate on the production of higher specification and higher margin truck and passenger car tyres at its Montceau and Tours plants. In addition, Michelin will negotiate 1,800 voluntary departures over the next three years. Of the 1,093 employees affected by the labour reorganisation plan, 495 positions are set to leave through early retirement. Michelin says it will then offer the remaining workers at least two other positions elsewhere. The remaining 1,800 additional job cutbacks will be spread across all operations in France.
Continue ReadingBridgestone Announces 2009 e-reporter Finalists
The eleven finalists who will hone their journalistic skills in the battle to become this year’s Bridgestone e-reporter have been named. This year’s list features aspiring sports reporters from nine European countries, including two UK candidates. The first e-reporter to be given the chance to demonstrate his talents is Spain’s Ferran Lopez Margall, who will cover the opening GP2 event for the season at the Spanish Grand Prix on May 8 to 10. Eight finalists are attending a Formula One race weekend to follow the GP2 Series this season, while three others will get the opportunity to witness the two-wheeled action of MotoGP. All finalists will report on the Bridgestone-supported championships for Bridgestone’s bridgestone.eu/e-reporter website and interview riders or drivers to fine-tune their journalistic skills. The first UK e-reporter to go trackside is Stephanie Black, who heads to Silverstone on the weekend of June 19 to 21. The second Blighty based candidate, Kate Goodacre, will report on the GP2 proceedings in Germany between July 10 and 12.
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