Conti to Raise 2004 Share Dividend?
According to German media publications, Continental AG is considering paying a higher dividend at the end of the current financial year. Chairman Manfred Wennemer told a European business magazine that because of growing earnings an increase would be possible. At the end of September Wennemer said that this year’s earnings per share (EPS) will be at least on the 2003 level of 0.52 euros. At the same time he confirmed the rather positive earning predictions for the financial year saying that 2004 will be ended with an operating profit of 855 million euros on 31 December.
Continue ReadingPirelli Named Best Innovator 2004
Pirelli Tyres has been awarded Best Innovator 2004 prize, during Italys first national innovation day. The aweard, organised by A T Kearney in partnership with Confindustria, is awarded to companies that demonstrate the ability to create value through innovation. According to the company, Pirelli won the award due to its “excellence in integrating different dimensions of innovation. Pirelli sees the prize as another way of recognising the company’s technologies - particularly tis Modular Integrated Robotized System or MIRS and its Continuous Compound Mixing system. “Innovation is a core element of Pirelli culture; the group aims at excellence both in processes and products, not being satisfied by current standards,” Mr Francesco Gori, managing director of Pirelli Tyres Sector commented. “Innovation allows us to create value for customers and companies, which must foster and stimulate creativity and speed not only in research and development activities.” Pirelli says that its innovation, as a company, has led to products such as the Eufori@, the first Pirelli run-flat tyre which can run at zero-pressure and today equips the Mini and new 1 and 3 BMW Series.
Continue ReadingTop Technician 2005
The search continues to find the top British garage technician of the automotive aftermarket. There is less than one month left to nominate candidates for the award and judges are looking for a technician with the right skills, knowledge and attitude to approach any job.
Continue ReadingOnkar S Kanwar Becomes New FICCI President
Onkar S Kanwar has been named as president-elect of the Federation of Indian Chambers of Commerce and Industry (FICCI). Mr Kanwar, chairman and managing director of Apollo Tyres, will take over from current president YK Modi at the conclusion of the 77th annual session next month. Closely associated with leading national and international industry chambers and other business organisations, Kanwar is also past president of the International Chamber of Commerce - India (ICCI). As head of Apollo Tyres, Kanwar recently forged alliance with Michelin, the worlds number one tyre manufacturer with operations in over 170 countries.
Continue ReadingCooper Names New SUV/LT Tyre Development Manager
Cooper Tire and Rubber Company has named Marcus A Hancock as manager of sport utility vehicle/light truck tyre development. His responsibilities include managing and leading the development of new SUV and light truck products for the North American market. Originally from England, Hancock joined Cooper-Avon Tyre at Melksham, in 1989 as a tyre design and development technical assistant. He has also worked as both a design engineer and a senior design engineer at Cooper-Avon. Mr Hancock has also been a senior development engineer of performance tyres at the Cooper tyre plant in Findlay, Ohio.
Continue ReadingUSWA Ratifies Contract at Goodyear Mould Facility
The USWA has reported that members in Statesville, North Carolina plant have “overwhelmingly ratified a three-year contract with Goodyear Tire and Rubber Company. The agreement represents the first the first contract at the plant since workers collectively chose the USWA as bargaining representative in February 2004. According to the USWA, 95 per cent of those eligible to vote were in favour of the new agreement, which provides workers with a network of job security measures. Provisions that restrict the companys ability to contract-out work will maximize the utilisation of our skilled and experienced members, said local union negotiating committee member, Terry Gentle. Were pleased that we have reached an agreement with Goodyear-Statesville that makes our members in Statesville partners in the ongoing turnaround of this company, added Tom Drescher, local union negotiating committee member. The USWA represents 130 employees at the Statesville facility. Overall, the USWA represents more than 18,000 members employed at 14 Goodyear tyre and engineered product facilities throughout the US. First contract negotiations continue at facilities in Asheboro, NC and in Utica, NY.
Continue ReadingFulda to Showcase UHP tyre to UK Market
Fulda will be launching its new UHP tyre at Autosport International early next year. The company has already announced that it is to be the title sponsor of the live action arena at the show during the 13-16 January 2005, and will be using the opportunity to promote its new tyre.
Continue ReadingAutosport Backs MIA Awards
The Motorsport Industry Association has confirmed that its annual Industry Awards dinner will be held at Autosport International in January next year. The show and its organisers will also sponsor the Export Achievement Award. The dinner will be held in the grounds of the NEC on the first evening of the show, Thursday 13th January 2005. Awards will be presented across seven categories; business of the year, teamwork, small business of the year, export achievement, rally business of the year, technology and innovation, and service to the industry. Over 600 executives from the motorsport and high performance engineering sector are expected to attend the event, which will also include an address from speaker Stuart Turner.
Continue ReadingTIA to Sponsor Pavilion at Reifen 2006
The Tire Industry Association (TIA) will sponsor the United States Pavilion at the next Reifen show, which will be held 23-26 May 2006, in Essen, Germany. This year´s Reifen, held 8-11 June, exceeded organisers´ expectations, drawing more than 400 exhibitors from 41 countries and 16,000 buyers.
Continue ReadingThorite’s New Website
Compressed air, pneumatics and process control product supplier, Thorite has launched a new website which brings a host of benefits to online buyers. The redesigned website is easier to navigate, has more features, lists more products and includes a huge range of regularly updated special offers, with savings exclusive to users of Thorite’s new online shopping service “Thorite Direct”. The website’s main content comprises sections on industrial and workshop products, backed by useful information on services, product news, head office and regional sales and service centre staff and recently published Thorite sales literature. There is also a search facility, details of vacancies within the organisation, a company history and a “FAQ” section. Referring to the new website, Thorite’s marketing director, Ross Gowler, said: “We were determined to create a colourful and involving on-line presence, which would reflect the vitality and high levels of product choice and service which Thorite now embodies. I’m delighted that our customers will now benefit from both a vastly enlarged content and worthwhile savings when ordering via the web.”
Continue ReadingFirestone Helps Keep America Tidy
Firestone Tire & Service Centers helped to collect 1.2 million scrap tyres, fit for recycling, as part of Keep America Beautiful’s (KAB) Great American Cleanup. “We wanted to build on last year’s success by helping Keep America Beautiful reach the 1 million tyre mark and continue increasing the recycling of used automotive batteries and engine oil,” said Larry Magee, CEO and president of BFRC. “Through the involvement of our teammates across the country, we not only met but surpassed this year’s goal. Firestone is proud to be a part of Keep America Beautiful’s efforts, and of our company’s track record in protecting the environment and helping strengthen our communities.”
Continue Reading2005 NTDA conference heads to Harrogate
Following its annual conference held in Marbella in September, the NTDA has decided to hold its 2005 follow up event in Harrogate alongside Brityrex next spring. As reported in November’s Tyres & Accessories the association felt it would be beneficial to hold an interim event to provide an opportunity to up date the industry on how the many actions arising from the September event were progressing.
Continue ReadingContinental and USWA Bargain Over Severance Package
Continental and the USWA are in the process of negotiating a severance agreement for the workers affected by the closure of the company’s Mayfield plant. The two sides are at loggerheads over the package, which the company sees as generous, but the union calls an insult. The union is unhappy about the company’s proposals. These include a lump-sum severance payment of up to $8,000 per worker, a maximum 30 day health insurance cover and a special fund of more than $1.1 million to help displaced workers find jobs, retraining, health care, relocation and other transition expenses. Continental plans to cease production by 31 December and shift work elsewhere, leaving 60 workers in tyre mixing and warehousing and hundreds unemployed.
Continue ReadingYokohama Doubles Thailand Site Area
Yokohama Rubber Co has announced that, by the end of December, it will have purchased 193,327 square metres of land adjacent to Yokohama’s Thailand manufacturing plant. When the newly purchased land is added to the existing site, this means that the Thailand subsidiary will more than double in size, growing to 418,427 square meters. Upon completion of the expansion plans, Yokohama Thailand will have a larger site area than any other Yokohama rubber subsidiary.
Continue ReadingYokohama Establishes Chinese High-pressure Hose Subsidiary
Following the news that it will double the size of its Thailand production plant, Yokohama has also announced that in December it will establish Yokohama Hose & Coupling (Hangzhou) a subsidiary for assembling and selling high-pressure hoses and their metal fittings in China. The subsidiary’s plant will be located in the Economy and Technology Development Zone, Hangzhou City, Zhejiang Province and commence operation in April 2005. The new company will be capitalized at $350,000. In China, the demand for construction machinery has been rapidly increasing because of consecutive large-scale projects associated with the Beijing Olympic Games in 2008 and the Shanghai Expo in 2010. High-pressure hoses are a indispensable components for hydraulic devices used in construction machinery. At least for the time being, the new company will concentrate on the OEM business with Japanese construction machinery makers. At the same time, however, the company says it will “proactively conduct market research” in connection with the demand for replacement high-pressure hoses. It also plans to begin local production of metal fittings as soon as possible.
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