US Tyre Shipments Beat Expectations
Financial analysts are predicting that the US tyre market has performed better than expected in the month of December, increasing 9.5 per cent year-over-year. The news follows a six per cent increase in November and an 8 per cent decline in October. The market watchers from Deutsche Bank estimate that US tyre manufacturers are likely to have experienced a 2.5 per cent increase in replacement volume. In addition the analysts report that volumes this quarter are also better than expected. As a result Deutsche Bank predicts that Cooper and Goodyear will experience a positive modification in their share prices of $0.10 and $0.07 respectively.
Continue ReadingRecord Annual CV Registrations
Commercial vehicle registrations hit an all time high last year with a record level of 389, 923 units, a figure that was up some 9.5 per cent. The SMMT also recorded the highest ever December CV registrations at 28,470. According to the society growth remained concentrated in LCVs, particularly medium vans. 24,021 light commercial vehicles were registered in December, with a total of 329,599 units recorded for the year.
Continue ReadingRenault To Sponsor New Tyre Industry Awards
The NTDA has announced that Renault Vans will be supporting its Tyre and Fast Fit (TAFF) awards in 2005. The TAFF awards are due to be launched at the NTDA’s Annual Dinner in April. The awards will feature Tyre Manufacturer, National and Regional Wholesaler, Tyre and Aftermarket Equipment Supplier, Product Innovation and a special award for Industry Advertising Campaigns.
Continue ReadingCooper to Buy 11 per cent of Kumho Tire
Cooper Tire & Rubber has announced that it has agreed to acquire approximately 11 per cent of the common equity of Kumho Tire. Cooper reports that the acquisition is in connection with a planned initial public offering on the London and Korean stock exchanges. The deal, which is expected to close in the first quarter of 2005, remains subject to a number of government and regulatory approvals.
Continue ReadingMichelin Aims to Start Tyre Revolution
The answer is - when it is a Tweel. Michelin has been demonstrating the direction that it would like to take tyres by exhibiting one of its most recent developments at Detroits North American International Auto Show. The Tweel is an airless tyre/wheel concept that consists of a band of tread attached to a set of flexible polyurethane spokes. According to Michelin executives, this design makes for a “virtually indestructible vehicle tyre” that can be tuned for handling. The same executives also concede that any practical applications could be as much as 15 years away.
Continue ReadingFire at Conti’s Mount Vernon Plant
Officials have report that a fire broke out at the Continental General Tire plant in Mount Vernon, Illinois. No injuries have been reported. Fire and water damage was estimated to be more than $100,000. The fire is believed to have started when a welder working in the curing department ignited some chemicals. The resulting fireball burned through the ceiling, but was brought under control within half-an-hour. Employees were evacuated as a precaution, though plant operations resumed a short time later.
Continue Reading2004 Car Registrations Remain Flat
In 2004 new car registrations in the UK totalled 2,567,269 units, 0.5 per cent down compared with 2003’s figures. During the same period the number of units manufactured with diesel engines increased 18.5 per cent totalling 835,334 units. Diesel cars now occupy a record 32.5 per cent of the market. Registrations for the month December dipped 7.1 per cent to 144,353 units from 155,452.
Continue ReadingBridgestone Plans 50th Tyre Plant
After the company only recently confirmed plans to build its 48th tyre factory in Brazil, Japan’s Nihon Keizai is reporting that Bridgestone will build two more facilities. According to the newspaper the new factories will be built in China and Eastern Europe at a total cost of more than £253 million. The Chinese plant will produce bus/truck and passenger car products in China and is likely to be built in Huizhou, Guangdong province. As for Eastern Europe, a number of locations have been the subject of media speculation. Possible countries include Slovakia or Poland where Bridgestone already has a tyre factory.
Continue ReadingTitan Ranked Second For Stock Appreciation
Titan International has been ranked second in terms of stock appreciation in a list compiled from New York Stock Exchange (NYSE) companies. In 2004 the companies share price increased 393.5 per cent, second only to WR Grace & Co. The price of Titan’s stock grew from $3.06 on 31 December 2003 to $15.10 by the end of 2004. “We congratulate W R Grace for their outstanding stock performance,” said Titan president and CEO, Maurice Taylor Jr. “Seeing Titan’s market value reach the levels where we knew it should be is rewarding. An investment of $3,000 in TWI stock on the first trading day of 2004, would have been worth approximately $15,000 on the last day of 2004. The effort and commitment of our employees and stockholders have made it possible to return to profitability and to achieve this remarkable progress and recognition within the investment community.” Titans announcement marks a distinct turnaround in the companys financial performance. Little over a year ago Titan was in danger of being de-listed from the NYSE for having a very low share price.
Continue ReadingShocking Warning
Tenneco Automotive, has issued a winter warning about the risks of driving with worn shock absorbers, following research carried out by an independent institute. Tests carried out by GTS and TÜV Rheinland, two independent research institutes located in France and Germany, provided a graphic demonstration of how worn shock absorbers can render ABS, ASR and ESP systems significantly less effective.
Continue ReadingButton to Appear In Birmingham via Satellite
Jenson Button and the BAR-Honda Formula 1 team will show will launch the team’s new vehicle, the BAR-Honda 007, by satellite link. The new car will be unveiled at the Barcelona circuit in Spain at 11am (UK time) on Sunday 16 January and for the first time, visitors to Autosport International will be able to watch all the action as it takes place. Jenson is just one of three current Formula One drivers who are participating in Autosport International, Europe’s largest motorsport show. Red Bull Racing’s David Coulthard will be coming along to meet his fans on Saturday 15 January and Williams-BMW’s Mark Webber will be there to sign autographs on Sunday 16 January. Other British racing stars attending the show include Eddie Irvine, Allan McNish, Jason Plato and Andy Priaulx.
Continue ReadingTIC Records Results
Results from the North West England Tyre Safety Campaign held in October 2004 have shown “a substantial reduction in the number of danger tyres on vehicles on the roads,” according to the TIC. Police checks identified that the number of tyres below the legal minimum tread depth had fallen by just over four per cent compared with the previous years campaign.
Continue ReadingNokian Increases Share Capital
Towards the end of last year, Nokian Tyres increased its share capital by a total of 45,340 euros. The new shares are being traded on the Helsinki Stock Exchange together with the old shares. Nokian Tyres plc’s share capital now stands at 21,705,762 euros.
Continue ReadingMichelin Charming Europe
Michelin has extended its ‘charming places to stay’ guide range with the introduction of German and Italian editions, and the launch of the 2005 edition to France. This year’s range features a similar layout to previous editions where each section of the guide is colour-coded by geographical region, and each entry includes a photograph and short description, plus practical information.
Continue ReadingUSWA Ends Asheboro Unionisation Plans
The USWA has halted plans to unionise Goodyear’s Asheboro, North Carolina plant. So far there is no information about when the activity at the plant stopped or when the union will be allowed to mount a new campaign. According to information provided by the National Right to Work Foundation (NRWF), “Under the terms of the settlement, USWA union officials may not use the ‘card check’ unionisation schemes in any future organisation attempts at the Asheboro Goodyear facility.” In a statement Goodyear North America communications manager, Amy Brei stated that the company has cooperated fully with the National Labour Relations Board (NLRB) and will continue to do so. She said charges in the complaint centred around whether a neutral arbitrator properly accounted for employees who revoked written union authorisation cards they had previously signed. “Goodyear did not ‘ignore’ the revocations; they were presented to the neutral arbitrator for his consideration. Goodyear associates have been - and always will be - free to choose whether or not they want union representation.” Speaking to local newspaper the Asheboro Courier, USWA area representative Brad Smoyer stated a desire to continue the organising drive, adding that the USWA will assist workers in that effort. He said officials found no evidence of coercion by the USWA or Goodyear during the 2004 union drive. The NRWF was clearly pleased with the result: “This victory is a step towards holding union officials across the country to account for trampling workers’ rights under abusive ‘card check’ schemes,” said Foundation vice president Stefan Gleason in a press release. “While encouraging, its an outrage that Goodyear struck a backroom deal with USWA officials in the first place to deny these workers the freedom to decide their own representation through the less abusive secret ballot election process.” cja
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