Chinese Aim to Take On Rover 75 Production
In the wake of the collapse of MG Rover, it seems that the vultures are already circling the carcass. According to an Auto Express report, Shanghai Automotive Industry Corportation (SAIC) plans to build 321,000 Rover 75s in the next five years. Not one will come from Birmingham.
Continue ReadingKwik-Fit For Sale
Following its acquisition by British private equity firm, CVC Capital Partners, Kwik-Fit has put itself up for sale in a move that could raise as much as £800 million. CVC is reported to have sent information on the company to “a string of prospective buyers.” Although the names of the these companies have not been officially released, Reuters speculated that the list would include all the leading buyout firms including Cinven, Kohlberg Kravis Roberts, BC Partners, Permira and J P Morgan Partners. The sale is expected to be completed by the end of the summer.
Continue ReadingFederal Announces Record Shipments in March
(Akron/Tire Review) Federal reported that it has achieved a new record for shipments in March. Total shipment value from the company’s Taiwan factory reached $11million, according to Federal.
Continue ReadingBridgestone to Build Fourth Tyre Plant in China
(Akron/Tire Review) Bridgestone Corporation is planning to invest about $300 million in the construction of a fourth tyre plant in China, the company recently announced.
Continue ReadingAmerityre Passes FMVSS 129 Testing
Amerityre Corporation has announced that its airless polyurethane tyres has passed FMVSS 129 testing. “This is a major breakthrough in tyre technology,” said Richard Steinke, Amerityres president and CEO. “Over the past several years, a lot of companies have attempted to make a non-pneumatic tyre for passenger vehicles. Those attempts fell short, in large part, because they didnt have the compounds to do it. To the best of our knowledge, we are the first company to have a tyre that completely meets the standard,” he added.
Continue ReadingPirelli to Compete in One Lap of America
Pirelli Tire North America is putting a little fun into its tyre testing programme this week as it participates in the One Lap of America event. Presented by Car and Driver and the Tire Rack, the event starts on 30 April at the Tire Rack headquarters in South Bend, Indiana. The 22nd running of the One Lap covers approximately 3200 miles and passes through many different states on the East coast of the US. The Pirelli team consisting of Jeff Dinges (R&D) and Gianluca Grioni (marketing) will participate in 11 different timed events at tracks such as Virginia International Raceway and New Hampshire International Speedway and finish the event on 7 May back at the Tire Rack.
Continue ReadingEllerbrock Releases New PRL Product
Ellerbrock has added a new pattern into its PRL line of products. The company’s latest addition is called the DY3. The product will be available this year in 230 and 270 series variations with other sizes to follow. The DY3 features a directional pattern, good traction on and off the road, self cleaning properties and high mileage efficiency, according to Ellerbrock.
Continue ReadingPirelli Announces Price Increases
Pirelli Tire North America will increase prices for its passenger and light truck tyres by 5 per cent. The price increase with be effective from 1 June in the US and Canada. Pirelli is the latest in a string of price increases from major manufacturers in the US.
Continue ReadingPerformanceAlloys.com Introduces New Advanti Designs
Performance Alloys.com has introduced three new alloy wheels designs, the SC-18, SC-22 and the SC-33. When asked about the latest alloy wheels and tyres sales manager Garry Higgins said: “We are continually asked by our customers for an ever increasing range of larger and more unique alloy wheels for their cars. Some companies would not look at supplying such high performance vehicles with after market wheels but our company is leading the way in supplying exclusive and custom wheels for the more discerning customer.”
Continue ReadingVredestein Banden Turns Over 230 million euros in 2004
In the last financial year Vredestein Banden turned over more than 230 millions across its four product groups (passenger car, truck, bicycle, agricultural and industrial products). Although Vredestein does not normally publish official financial statements, the latest figures were released as part of an official statement on the company’s recent acquisition by Amtel. In 2003 the Vredestein Group recorded a turnover of some 305.6 million euros. Of this, about 200 million euros was said to have been generated by the new tyre business. If these figures are correct, 2004 must have been a good year for Vredestein Banden with turnover increasing by around 30 million euros.
Continue ReadingMichelin Sales ‘Stabilise’
Michelin has released fist quarter results that show the company’s net sales have “stabilised” in value terms. The weakening dollar is said to have contributed to the 0.2 per cent drop in sales to 3.61 billion euros against the same period last year.
Continue ReadingBACRT’s Bohm Plans Retirement
(Akron/Tire Review) Dr Georg Bohm, vice president of research for Bridgestone Americas’ Centre for Research and Technology (BACRT) has announced plans to retire as of 1 May. Dr Hiroshi Mouri, BACRT president, will assume Dr Bohm’s responsibilities at BACRT.
Continue Reading‘The Best News is the Worst News’
“Unfortunately, the best news is the worst news for many Russian news agencies,” according to Sibur press attaché, Anna Stepanova. The Russian tyre manufacturer’s spokesperson made these comments in response to reports stating that the company had reduced first quarter tyre production by 25.5 per cent. While the reports were not inaccurate, Sibur’s management does not agree with the conclusions drawn by Russia’s Analytical News Agency (ANA) and says that numbers went down due to production improvements and capacity transfers.
Continue ReadingHankook/Slovakia Negotiations Underway
(Akron/Tire Review) The Slovak Spectator reported today that negotiations are underway between the Slovakian government and Hankook Tire Co regarding a new $650 million tyre plant for that country.
Continue ReadingLin Rejoins Federal as Sales and Marketing VP
(Akron/Tire Review) Federal Tire Co. has appointed Henry Lin as vice president of sales and marketing. Mr Lin had previously worked for Federal before leaving and then formally rejoining the company in March.
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