Downturn In Car Market Hits Ford Europe
Fords European operation lost $35 million in 2000, compared with a $10 million operating profit in 1999, after a $1 billion restructuring charge partly related to the closure of car making facilities at Dagenham U.K. Henry Wallace, Fords new world-wide chief financial officer, said he was targeting a 1% return on sales in Europe and hoped to bring the Companys European arm into profit this year.
Continue ReadingSecond Plant For Ringtread System
There are a lot of patents, some first registered in the 60s, concerning retreading using a ring system. Most of the patents belong to Marangoni, the majority shareholder of Ellerbrock. But the new tyre manufacturers were also thinking about the idea of a ring. There were also developments by Goodyear very similar to the Marangoni system, so that it came to a legal settlement. But this was long ago and ancient history – now Goodyear offers its own ring called Uni-Circle. Until now only one plant has existed in Europe where these rings are produced: in the Marangoni factory in Frosinone (Italy) so you dont need to be a detective to understand that the Goodyear source of Uni-Circle is the Marangoni plant. Now Ellerbrock has also begun production of the tread in form of a ring, also called Ringtread system. Ellerbrock will be responsible for the markets of Germany, Austria, Switzerland and Denmark. Other countries may be added later, because Ellerbrock will produce the modern tread patterns popular in central Europe. Capacity of the new facility will be 300 rings per day. One benefit of the rings in comparison with traditional flat tread patterns for retreading is the higher flexibility in production: charges of twenty rings are no problems in the new plant. But there are also benefits for the retreaders: they can save material, time, and because the process is totally automated, mistakes in production caused by human error – which might lead to splice separations – are nearly impossible. And the ring looks exactly like a new tyre. The target of Ellerbrock with the Ringtread system is not to change from traditional truck tyre retreading but to find new customers.
Continue ReadingAnalysts Rate Goodyear Shares A “Buy”
Despite the admission of chairman and CEO Samir G. Gibara that Goodyears 4Q results were disappointing, some financial analysts have recommended the companys shares as a buy. The results were better than forecast, plus the analysts are confident that Goodyear will start to turn things around before long.
Continue ReadingAcquisition Of Two Japanese Brake Manufacturers By Continental
Continental Teves (Frankfort) – part of Continental AG (Hanover) - responsible for brake business, at the end of March, acquired two Japanese companies engaged in this field. The companies are Shin-Ei and ShinTec, former subsidiaries of the Mazda Motor Corporation. Continentals Board Member, Dr. Wolfgang Ziebart, responsible for Continental Teves, said that this acquisition is another important step toward the goal of becoming a system supplier for mechanical and electronic brake systems in the markets of Japan and Korea.
Continue ReadingLooking Back Over 20 Years Of NEUE REIFENZEITUNG
Over the past two decades, many things of interest have happened in the tyre industry, reported in the pages of NEUE REIFENZEITUNG and our twentieth anniversary is a good time to look back over some of these events. It is not our intention to produce an historic overview, rather to remind you of some of the significant happenings in the market which were important at the time and are still having an effect today. For example, we have seen many takeover attempts of tyre companies – both friendly and unfriendly – from which we have learned that biggest is not always best. Fifteen years ago, the Goodyear group was worth more at the Stock Exchange than today; now it is worth $4 bn, fifteen years ago, Goldsmith offered $6 bn. There have been many changes in the tyre trade too, and methods of selling tyres have changed significantly. Cooperations have been successful, but above all we have seen the development of Partnerships between the industry and the trade; today the basis for these agreements is more rational than emotional. Last but not least there are a lot of people who have made the news over the past twenty years. Among these are tyre dealer Schütze, the man who awarded himself numerous academic qualifications, and tyre dealer Hesse, who was the brightest shooting star of the early 80s, and bankrupt in 1984. On the other hand there is the tyre dealer from Weiden, Peter Unger, who had a big success story with his ATU stores; a success which is still on-going. Among the many other personalities worth mentioning is Horst W. Urban, the man whose actions ensured that Continental has remained an independent company, and Marco Tronchetti Provera; probably the most successful tyre company manager over the last decade.
Continue ReadingDetention Order For GT Tycoon
Reports in the Straits Times claim that a 20 day detention order has been issued against Gajah Tunggal President Sjamsul Nursalim on money-swindling charges. There has been speculation that the move, which is one of a number against businessmen, might be politically motivated. A separate report asks whether the group will have to sell off assets to repay debts.
Continue ReadingRubber Parts Unit For Toyo
Toyo Tyre and Rubber Co has announced the establishment of a wholly owned US subsidiary. The $20million plant will begin manufacturing vibration resistant rubber auto parts by July 2002. The companys main outlets will be Japanese motor manufacturers operating in North America.
Continue ReadingFurther Firestone Recall By Ford
Ford has announced that it will replace up to 13 million Firestone tyres fitted to Ford Explorer SUVs. This is double the number of tyres recalled last year and the cost to Ford will be around $3 billion, with the exercise taking nine months. It was this decision which precipitated the announcement from Bridgestone/Firestone that it would sever all ties with Ford; an announcement which caused Bridgestone shares in Tokyo to fall by over 9 per cent.
Continue ReadingCooperation Bandag/Continental Brings Only Advantages
Ron Carver (Bandag) and Dr. Nikolin (Continental) said during a joint press conference held in Hanover, that the cooperation creates a win-win-situation. On the one hand there will be a quality product and on the other hand the franchise net is, according to Carver, strong enough across Europe to guarantee deliveries in the shortest possible time. In the Precure Retreading market more and more customers are insisting on having their own casings retreaded.
Continue ReadingNew Tenneco Vice President
Jean Pierre Dolait has been appointed as Vice President Sales and Marketing, Aftermarket Tenneco Automotive ( Monroe brand suspension products and Walker exhaust systems). Previously at Valeo, Dolait reports to Tennecos General Manager, Aftermarket, Don Miller.
Continue ReadingNew Key Account Manager Ford And Viborg In Clermont-Ferrand
Michael Hottner (38) will become the key account manager at the tyre manufacturers headquarters in Clermont-Ferrand for Michelin customers Ford of Europe and the Viborg group. Hottner was responsible for two-wheeler business for seven years at Michelin Germany
Continue ReadingNew Trailer Tyre From Stomil
Polish tyre manufacturer Stomil-Olsztyn, a member of the Michelin-group, is offering a new radial tyre for trailers, called AM-17 Transport , size 400/70 R20 150D, through its German distributor Bohnenkamp (Osnabrück). Its higher loading capacity as well as the significantly reduced rolling resistance compared with its diagonal version shall make this new tyre to an economic alternative for the farmer.
Continue ReadingOE Tyre Satisfaction Study Rates Dunlop And Michelin
The latest study by J.D. Power & Associates, measuring OE tyre satisfaction, puts Dunlop at the head of light truck OE tyres for the first time and Michelin tops for passenger vehicles, for the fourth year running. The study sought the views of more than 39,000 consumers in their first three years of vehicle ownership.
Continue ReadingHayes Lemmerz Faces Great Distress
Can you imagine? Hardly three years ago, the share of the world’s biggest wheel manufacturer was worth 30 US Dollar, sometimes it even reached 40 US Dollar. With one US Dollar only on September, 28th 2001, this share has reached is absolute baisse so far. An alarm bell that cannot be ignored. The company is in great danger of collapse. And the terrorist attack against the World Trade Center could have finished the company off. Already before that, the group had replaced its long-term boss Ron Cucuz by Curtis J. Clawson, who enjoys the reputation of a fireman within the automotive business.
Continue ReadingTyres and On Site Support From Michelin
Michelin has committed 24 hour support and tyres towards keeping the recovery efforts in New York moving. Specifically an On-Site Service truck in the disaster area 24 hours a day, seven days per week to service emergency vehicles; 250,000 US Dollars (270,338 Euro) worth of Michelin tyres and an on-site technical expert to assist in mobility issues. Additionally, Michelin Group has contributed 1M US Dollars (1,081,775 Euro) to the American Red Cross Disaster Fund. A Michelin Relief Fund has been opened to all 128,000 Michelin employees who may wish to make further donations.
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