Continental Supplies BMW M5 and M6
Continental is to supply the new BMW M5 Limousine and the M6 Coupé. The German automotive supplier will provide both its MK60 E5 brake system and ContiSportContact 2 tyres. “Once again, BMW is placing its trust in our know-how and expertise for its top sporty models, following the current M3 and M3 CSL models. We’re very pleased about this,” said Dr Karl-Thomas Neumann, president of Continental Automotive Systems and member of the Continental AG Executive Board.
Continue ReadingBridgestone 2005 OP Down 9 per cent
Bridgestone Corp is likely to post less of a drop in 2005 group operating profit than it expected. Reports in the Nihon Keizai newspaper say the improved figures have been assisted by robust sales of high-value-added products worldwide. The reports suggest Bridgestone will publish operating profit of just over 180 billion yen ($1.61 billion), down some 9 per cent from a year earlier. In February, the company estimated that its group operating profit would fall 14 per cent to 170 billion yen. Both figures look conservative compared with the Reuters Estimates consensus, which puts the figure nearer 195 billion yen.
Continue ReadingPirelli and Metzeler Top MCN Tyre Guide
Pirelli and Metzeler brand tyres have topped Motor Cycle News’ (MCN) “Ultimate Tyre Test.” Broken into 3 distinct categories - Sports, Performance and Extreme - MCN tested the tyres at Michelin’s purpose built tyre testing facility at Clermont-Ferrand, France. In addition to Pirelli and Metzeler, Michelin Pilot Power, Avon Viper Sport, Dunlop D208, Pirelli Diablo and Bridgestone BT014 tyres were examined. In each discipline the tyre testers looked atride quality, feel under braking, feel turning in, cornering grip, steering precision, flickability, drive out of turns, confidence. A maximum of 10 points were available for each test.
Continue ReadingBeru Aims to Increase Earnings and Sales Revenues
The executive board of Beru AG says it aims to increase earnings and sales revenues by high single digit rates. Beru AG increased its total revenues by 8.8 per cent to 385.8 million euros in the past financial year. EBIT decreased to 50.5 million euros, due to one-time exceptional effects totalling 5.0 million euros. In addition, the company’s executive committee and supervisory board want to suggest a dividend of 1.10 euro for each share to the general meeting on 21 September 2005. Despite increasingly tough competition and pressure on prices, BERU believes it is well positioned for the future with its strong product pipeline.
Continue ReadingYokohama Opens Chinese Sealant and Hose Assembly Plants
Yokohama subsidiaries, Yokohama Hamatite, a passenger car sealants supplier, and Yokohama Hoses & Coupling have held a joint opening ceremony of their new Chinese factories. Yokohama Hoses & Coupling (Hangzhou) will start by assembling 2,500 hoses monthly, raising output 10,000 units monthly through 2008. The capital investment for equipment and facilities will total $350,000, the company reports.
Continue ReadingAmerityre Meets Further Testing Standard
Amerityre has announced that its full-size airless passenger car tyre has passed US Federal Motor Vehicle Safety Standard 129. In April, Amerityre announced that non-pneumatic tyres for compact and mid-sized vehicles had passed the same standard. The prototype tyres, made from a proprietary polyurethane compound, have been developed for prospective use as temporary/spare passenger car tyres.
Continue ReadingPirelli Looks Towards India?
Indian news sources have reported that Pirelli is setting up a “liaison office” in Dehli, inferring that the company plans to start production in the country. According to the reports, the new office will be led by Pirelli executive Lorrenzo Arrigone. In the past there have been rumours about a possible investment worth $500 million, although nothing has materialised to date.
Continue ReadingUSW Workers Ratify BFNAT Contract
(Akron/Tire Review) Workers at six Bridgestone/Firestone North American Tire (BFNAT) and Bridgestone Americas Holding (BAH) plants have ratified a new three-year master contract. The contract proposal was accepted by wide margins at BFNAT tyre facilities in Akron; LaVergne, Tennessee.; Oklahoma City, Oklahoma; Des Moines, Iowa; and Bloomington, Illinois. United Steelworkers (USW) workers at BFNAT’s truck tyre plant in warren County, Tennessee, previously rejected the contract. There was no word what action, if any, union workers there might – or could – take.
Continue ReadingAXA Increases Continental Stake
AXA has increased its stake in Continental AG to 10.5 per cent of voting rights, Continental said in a notice in German newspaper, Boersen-Zeitung. Most of the shares are reportedly held by AXA’s US units AXA Financial Inc, AXA Financial Services LLC, AXA Equitable Life Insurance Company and Alliance Capital Management LP.
Continue ReadingBridgestone Invests 17 billion yen in OTR Expansion
Bridgestone is to invest 17 billion yen (£86 million) in increasing production of large and ultra-large radial tyres for mining and construction equipment. The company plans to spend the money in expanding production at its Shimonoseki, Saga, and Hofu plants. Bridgestone said that the move has been taken in response to growing global demand for this specific type of tyres. The investment is also said to be part of a “sweeping capital spending programme” that the Bridgestone Group is undertaking worldwide.
Continue ReadingThe Search for Britain’s Most Energetic Boss
Small business employees across the country are being encouraged to nominate their boss as the most energetic in the country. Powergen’s ‘Britain’s Most Energetic Boss 2005’ is looking for bosses with positive energy, whose enthusiasm and commitment to their employees or community makes going to work fun and rewarding, not a chore. The search aims to reward the hard work and dedication of the bosses of the UK’s 3.7 million small businesses.Employees who nominate their boss at www.energeticboss.co.uk between 4 July and 12 August 2005 could win a case of champagne for themselves, and a well deserved break of a lifetime to New Zealand for their boss.
Continue ReadingCTNA Files Charges Against Union
Continental Tire North America, Inc. (CTNA) has filed an unfair labour practice charge against the United Steelworkers union (USW) in relation to its Bryan Ohio OTR tyre manufacturing facility. The announcement follows attempts by Rodos Giants (part of the Roesler Group) to buy the plant. The union refused to enter into a labour agreement with the company.
Continue ReadingCanadian Autoparts Toyota to Increase Wheel Capacity 17 per cent
Canadian Autoparts Toyota Inc, which makes aluminium wheels for Toyota Motor Corp, is expanding its operations in British Columbia with a $39-million investment. The expansion will increase wheel capacity at the Delta site by almost 17 per cent to 1.68 million units annually, starting July 2007. The 19,000-square-metre plant produces 22 wheel models for Toyotas vehicles and employs about 230 people, a number that is set to increase to increase to 260.
Continue ReadingHayes Lemmerz Sells Equipment and Engineering Division
Hayes Lemmerz International, Inc has sold its wholly owned Equipment and Engineering subsidiary, located in Au Gres, Michigan. The equipment business was sold to Todd G Carlson and former Hayes Lemmerz employee Daniel D Minor. The business will be renamed CMI - Equipment and Engineering, Inc. Terms of the transaction were not disclosed.
Continue ReadingCabot Further Expands Chinese Carbon Production
Cabot Corporation has announced that it will build a new specialty carbon black unit at its plant in the Tianjin Economic and Technological Development Area (TEDA) in China. Cabot Performance Products (Tianjin), a joint venture with Shanghai Coking Chemical Company, will invest nearly $30 million in building the special unit that is set to have a capacity of approximately 20,000 tonnes. The unit is scheduled to begin production in the second half of 2006.
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