Cooper Strike Update
(Akron/Tire Review) Workers at Cooper Tire & Rubber’s Texarkana, Arkansas, tyre plant remained on strike today, as talks between the tyre maker and United Steelworkers of America (USWA) negotiators are said to be continuing. USWA represented employees walked off the job 12 March when their contract with Cooper, which had been extended from an earlier 6 March deadline, finally expired.
Continue ReadingUS SUV Sales Drop
(Akron/Tire Review) A report in the Detroit News says that SUV sales have dropped sharply as fuel prices in the US have continued to rise. The newspaper, citing a study by J.D. Power & Associates, said that full-size SUVs have been the hardest hit by the sales downturn. Sales of full-size SUVs were down 31 per cent in January and 21 per cent in February, according to the report. Through February, sales of Chevy Suburbans were down 37.8 per cent, Hummer H2s were down 32.6 per cent, Ford Expedition sales fell 24.4 per cent and Toyota Sequoia sales were down 14.4 per cent, said the report. Still, some models showed increases, including the Nissan Armada (+33.5%), Dodge Durango (+17.3%), and the Cadillac Escalade ESV (+8.8%), the report noted. A Ford analyst quoted by the paper said, “Gas prices probably accelerated a trend already under way. The best days for those products (large SUVs) are behind us.”
Continue ReadingBridgestone Turanza EL40002 Gets OE Fitment on New Cadillac
(Akron/Tire Review) Bridgestone/Firestone North American Tire (BFNAT) has announced that its Bridgestone brand Turanza EL40002 tyre will be original equipment on the 2006 Cadillac DTS recently introduced at this year’s Chicago Auto Show. The Turanza EL40002 “premium touring” tyre will be supplied in size P245/50R18 99H and has a UTQG rating of 300 A/A, said BFNAT. The new OE fitment “represents the first-ever application of a Bridgestone brand tyre at Cadillac,” said Michael Martini, president of BFNAT’s OE consumer tire division. “It also marks the first of several fitments we will be launching with Cadillac over the next year.”
Continue ReadingLanxess Reports Sales and Earnings Improvements
Preliminary reports show that Germany chemical company Lanxess AG increased its sales and earnings in 2004, benefiting from a general upturn in the industry. The company significantly improved on its operating results achieving 59 million euros EBIT, recovering from a 1.3 billion euro loss in 2004. According to the un-audited figures, sales rose more than 7 per cent to 6.773 billion euros in 2004. Earnings (EBITDA) for the reporting period increased by 44 per cent to 447 million euros. At the same time the company reduced net debt to around 1.1 billion euros. In the final quarter of 2004, the company posted a fourth-quarter operating loss (EBIT) of 17 million euros, following a loss of 1.2 billion euros in the same period of 2003.
Continue ReadingNew Addition to XTR Alloy Range
Euro Car Parts has announced a new addition to its XTR alloy wheel family. The Sabre, complete with Hyper Silver Finish, is available in 15 inch to 18 inch sizes and joins the Jagged, Revolve, Phaze and Coast in the XTR alloy range (prices start from £233.95 for a 15 inch set to and £304.95 for 17 inch models). All XTR wheels are available as wheel and tyre packages, with a choice of rubber to suit all pockets. The price includes chrome valve caps, balancing and tyre fitting.
Continue ReadingBandag Declares Quarterly Dividend
Bandag Incorporated’s board of directors has declared a regular quarterly dividend of $.33 per share on the company’s Common Stock, Class A Common Stock and Class B Common Stock payable 20 April for shareholders of record at the close of business on 28 March.
Continue ReadingNational’s Branch Manager of the Year
Congratulations to Chris Lee who, at the age of 23, is one of National Tyres and Autocentre’s youngest branch managers and who has been named as 2004 Branch Manager of the Year, winning a brand new car in the process. Chris Lee only joined National three and a half years ago as a fitter, but his managerial skills were quickly spotted and after two years he was promoted to manager.
Continue ReadingFerrari Upsets Bridgestone?
Bridgestone is unhappy with Ferrari, according to speculation in the Italian media and online news sources. In the run up to the Malaysian Grand Prix, and a potential Bahrain debut of the team’s new F2005 car, Bridgestone had asked for either Michael Schumacher or Rubens Barrichello to return to Europe. Instead of assisting the supplier with the development of the car’s new custom built tyre, Michael Schumacher took a holiday in South Malaysia, while Rubens Barichello went home to Brazil, the Home of F1 news site reported. Luca Badoer and Marc Gene are reported to have participated in the testing on the lead drivers’ behalf.
Continue ReadingSmarTire Signs With Travel Technology Innovations
SmarTire Systems Inc has announced that it has signed an agreement with Travel Technology Innovations, LLC (TTI) to distribute SmarTires active tyre monitoring systems. TTI is a newly formed, Detroit based joint venture between Detroit Chassis LLC and Redmer Industries that was created to market and sell SmarTire products. Both companies bring an extensive and successful track record of supplying original equipment and aftermarket parts and services to the automotive, recreational vehicle and transportation industries.
Continue ReadingTyres & Accessories Expands International Agreement
Tyres & Accessories is pleased to announce that it has extended its editorial cooperation agreement to include magazines from South Africa (Southern Africa Treads), Asia (Rubber Asia) and Australia (Australian Tyre Dealer). The enhanced group, together with existing partners, Tire Review, NeueReifenZeitung and Tyres & Accessories now have a unique partnership designed to further enhance each magazine’s ability to provide its readers with high quality global information.
Continue ReadingTIA Seeking Board Member Nominations
(Akron/Tire Review) The Tire Industry Association (TIA) is now accepting nominations for positions on its 2005/2006 board of directors. “TIA is looking for energetic members with a passion for the tyre industry,” said Roy Littlefield, executive vice president. “Any TIA member in good standing or an official representative of a state tyre dealer association may recommend another member in good standing,” noted Dick Gust, president of TIA. “Self-nominations are also welcome.”
Continue ReadingBFRC to Sponsor Great American Cleanup
(Akron/Tire Review) For the fourth consecutive year, BFS Retail & Commercial Operations (BFRC) will sponsor the Great American Cleanup, an organised community improvement initiative that runs from March through to May, announced Bridgestone Americas Holding (BAH).
Continue ReadingNew Start for Prestige Batteries
Platinum Batteries Ltd has released a statement thanking customers for their support during the company’s litigation case with Fiamm Automotive Ltd, which was finally settled last December. “It was extremely difficult maintaining stock levels during the litigation process and our national customer database has been extremely supportive and patient with us. Our situation is turning around rapidly now, with stock levels already back to capacity. “We will be trading as Prestige Batteries, the result of seeing a marked increase in demand for our four year calcium/calcium range of batteries. The company has a bright outlook for the future and much confidence in it’s ability to go from strength to strength, expanding its share of the UK market,” the statement concluded.
Continue ReadingCTNA to Launch New General Brand Truck Tyres
(Akron/Tire Review) Continental is set to launch three new General brand truck tyres at the Mid-America Trucking show between 31 March and 2 April in Louisville, Kentucky. According to CTNA, the launch will help commemorate the 90th anniversary of the General brand. No further details about the new tyres were provided by CTNA.
Continue ReadingPirelli Led Group Buys La Rinascente Retail Chain
A group led by Pirelli RE has bought the La Rinascente retail chain in a deal worth 888 million euros (£619 million), numerous business sources have reported. Eurofind, the chain’s previous owner, said the Pirelli led group beat several rival bidders, including French department store chain Galeries Lafayette. The Pirelli RE-led group includes Deutsche Bank Real Estate, private equity fund Investitori Associati, and Milan’s Borletti family, which owned the chain until selling it to the Agnelli family in the 1970s. Rinascente, which owns its namesake department-store network as well as UPIM, a lower-priced chain, reportedly had net profit of around 9 million euros and EBITDA of 68 million euros from 925 million euros of revenue last year.
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