Continental to Call Another Shareholder Meeting
According to German media sources, Continental is going to call for an extraordinary shareholder meeting before the end of this year in order to gain approval for the company’s integration with Phoenix AG. The Hamburg based company is due to be merged with ContiTech, a Continental ‘daughter’ company. “We will try everything in order to do this during the current year,“ said Dr Alan Hippe, member of the board.
Continue ReadingMatador and ATC In Slovak-Ethiopian Joint Venture
July 2004 saw the completion of a joint venture between Slovakian tyre manufacturer Matador and the Addis Tyre Company (ATC) of Ethiopia. The initial discussions began in the year 2000 when Matador management visited Ethiopia to talk about mutual co-operation and technology transfer. A basic agreement was signed in July 2002 between Matador, ATC and Addis Ababa and Public Enterprise Supervising Authority (PESA) to establish a joint venture with capital inputs for the production and sale of bias ply truck tyres, bias ply light truck and passenger car tyres, plus radial passenger car tyres. Matador sees the joint venture as an opportunity to develop the Addis factory and at the same time to take advantage of reduced operating costs. The Puchov plant is scheduled to cease production of bias-ply tyres by the end of March next year, which will enable capacity to be increased in passenger and light truck radial and obviate the need for redundancies. April this year saw the signing of the Agreement on the Establishment of Matador-ATC Joint Venture for the Production of Tyres at a ceremony at the Sheraton Hotel in Addis Ababa. Capital holdings in the JV are 61 per cent Matador and 39 per cent ATC. The agreement was signed by Mr Ing Stefan Rosina, president of Matador and Mr Ato Girma Biru, minister of industry and trade for the Ethiopian Federative Democratic Republic (EFDR). The latest meeting was held in early July to launch production of the tyres and this time Matador was represented by Mr Ing Stefanom Rosinom, chairman of the board of directors of Matador and Doc. Stefan Prekop, general director. The Slovak delegation was received by the President of the EFDR, Mr Girma Wolde-Giorgisa. President Mr Girma Wolde-Giorgisa said: Ethiopia is the heart of the African continent and its development and prosperity depends on the increase of the technological level of industry, education, know-how and capital imports from foreign investors. I believe that the successful establishment and functioning of the Matador - ATC joint venture will become an example and a challenge for other foreign companies. I am glad that Matador has established its activities in our country he concluded. For Matador, Mr Ing Stefan Rosina said that the company had found good partners in Ethiopia. He added: Conditions of business oriented towards the development of the domestic industry and market are good, but also conditions of export possibilities and the purchase of raw materials. I am convinced that the joint venture will achieve a good standing and importance like our joint venture in Omsk, Russia.
Continue ReadingYokohama Exhibits ADVAN in Las Vegas
Continuing in the pattern of recent international automotive shows, Yokohama is exhibiting its ADVAN range in Las Vegas. Yokohama sees the ADVAN brand as symbolic of the company’s “global concept.” At the SEMA Show, Yokohama will exhibit ADVAN Sport, the company’s new sport tyre, ADVAN ST, its new flagship tyre for the SUV (Sport Utility Vehicle), and ADVAN Neova, which the company describes as a “maximum performance radial.” ADVAN sport has recently been selected by Bentley as standard equipment for its Continental GT, the worlds fastest four-seats coupe. According to the company, Yokohama Rubber plans to begin marketing ADVAN brand tyres in 2005. In addition, Yokohama will also introduce the Parada brand and the AVID TRZ, premium all season touring tyre at the show.
Continue ReadingGlitches in the Computerised Future of the MOT
In light of the recent ‘Which?’ report criticising the quality of MOT testing the emphasis has once again been drawn to what the industry and government can do to improve standards. Computerisation appears to be the government’s answer to improving the quality of the MOT test, but what will this mean for those at the sharp end of MOT testing? Industry members are becoming increasingly concerned by the imminent arrival of MOT computerisation. However, government association representatives have contradicted these uncertainties by claiming that historically this was not the view of the trade. The Vehicle Operating Service Agency maintains that computerisation was introduced in accordance with the trade’s past response that it was the answer to improving the standards of the MOT test. Whichever side of the argument you are on one thing is certain – MOT computerisation is underway and will set the standard for future changes to build upon. VOSA has been condemned for continuously delaying the delivery of the computerised system, and this in itself is increasing concerns about the system’s impact on businesses. The official line is that testing of the computerised system has been delayed by “slippage in SBS software.” VOSA spokesperson Miranda Roberts explained: “We have completed trial stage one of the introduction process and are currently installing the equipment into five test stations and 38 MOT garages. We will then begin a wider roll out involving more stations before the system goes live before the end of the year.” The agency predicts the roll out will take about six months to complete. The agency openly admits that some garages are experiencing problems with the software, and so VOSA is trying to make sure the equipment “fulfils all the requirements and is as effective as possible.” When the system is cleared of all its glitches all 19,000 MOT testing stations will be provided with PCs, monitors and printers, and gas analysers will be fitted with a smart card reader. The equipment will be connected to a central database of vehicle information, test results and details of authorised examiners and testers. Access to the system is designed for authorised users only, via electronic smart cards and a password, however anyone with any computer experience knows how hard this method of security is to maintain in a hectic and pressurised work place. The majority of mechanics disapprove of computerisation because of the cost and the fact that it has been forced on them, but more simply because it means change. Upgrading equipment will be a cost they didnt budget for, although installation of the equipment is free, the consequences such as updating equipment are not.
Continue ReadingDunlop Presents ‘Maxxed Out’ Awards
Dunlop has awarded the first “Maxxed Out” award of the 2004 SEMA show to the owner of a customized 2001 Honda Civic. Ryan Shutt from Baltimore was selected for Dunlops best-of-show award for having “the best Dunlop tyre and tricked-out car combination at the show.”
Continue ReadingPirelli Releases New Scorpion Zero
At last year’s SEMA show, Pirelli made an impact with the introduction of a 25 inch diameter 315/40VR25 XL (120) M+S Scorpion Zero radial that the company dubbed, “Dub plus 5.” This year Pirelli believes it has gone “one better” with the announcement of the biggest Scorpion Zero ever, the 315/40R26 Scorpion Zero Asimmetrico.
Continue ReadingArvinMeritor to Divest Businesses Units
Arvinmeritor has announced that it will divest the company’s Light Vehicle Aftermarket (LVA) business group and take a “non-cash goodwill impairment charge” of $190 million (£103 million) in its fourth quarter budget. In addition, the company announced its plan to divest its Roll Coater coil coating business, a wholly owned subsidiary.
Continue ReadingDunlop’s ‘Black-Clad Hit Squad’
Dunlop is calling on UK drivers to look out for a mysterious calling card, placed on their windscreens by what the company calls its “black-clad hit squad.” The promotion will see the “hit squad” leave their calling cards on vehicles in town centres across the UK.
Continue ReadingPirelli Attempts to Hip-Hop the Vote
Pirelli Tire North America and the Hip Hop Summit Action Network (HSAN) have teamed up to produce 15-second public service announcements with leading Hip Hop artists encouraging young people to register and get out to vote.
Continue ReadingMAHA UK Awarded Distributor of the Year
MAHA UK has won the distributor of the year award at this year’s MAHA international sales meeting in Haldenwang, Germany. This is the second successive year that MAHA UK has won this award, having last taken the title in 2003.
Continue ReadingAmcast Vice President Resigns
Francis J Drew, vice president of finance and chief financial officer, has advised Amcast that he will resign his position as of 5 November, 2004. Mr Drew has informed the company that he will make himself available on a consulting basis for as long as necessary to ensure a smooth transition.
Continue ReadingScottish Tyre Safety gets Record Airtime
A record number of radio stations are taking part in this year’s Scottish tyre safety campaign. 18 local and national Scottish radio stations are supporting this years tyre safety initiative by echoing the TIC’s tyre safety messages as part of a down the line radio promotion.
Continue ReadingTenneco Embarks on Restructuring Programme
Tenneco Automotive has announced that it will cut up to 250 salaried positions, about six per cent of its workforce. The majority of the job losses will come from the middle and senior management levels and will be cut from the company’s worldwide workforce. Tenneco describes the redundancies as part of its “global restructuring” programme, which also includes plans to reduce the number of strategic business units to six.
Continue ReadingIndia’s Apollo Tyres’ Sales Jump
Indian tyre Manufacturer, Apollo Tyres is expecting sales to increase 18 per cent, a company official has said. Last year the company recorded sales of 23.14 billion rupees and this year expects to see sales rise to almost 27.3 billion rupees, nearly £327.8 million. We will maintain 18 per cent growth in sales. It would be more than double of the projected industry growth rate of 8 percent, Neeraj Kanwar, chief operating officer at Apollo, told a news conference. At the same time Mr Kanwar warned that the profit margins of tyre companies are under pressure due to spiralling costs of raw materials.
Continue ReadingGoodyear Wrangler Selected for 2006 Hummer H3
Goodyear has been chosen to supply tyres for the latest Hummer, the 2006 H3 model, which is due to arrive at dealerships in spring 2005. With its off-road capabilities the new H3 will be positioned among the mid size SUV segment. According to Hummer, the H3 will also provide “the refinement, comfort and convenience required for on-road driving.”
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