New Technical Centre Building For Bridgestone in Tokyo
Bridgestone Corporation celebrated the completion of a major addition to its Tokyo Technical Centre on Monday, November 13th. The new building is part of a year-long series of events to mark Bridgestones 70th anniversary in March 2001. On hand for the completion ceremony were 56 Bridgestone executives, employees and guests, including Bridgestone President and Chief Executive Officer Yoichiro Kaizaki. The company has invested about 65 million Dollars in the project. The new Technical Centre Building stands eight stories tall and offers a floor space of around 34,000 square metres, bringing the total floor space at the Technical Centre to around 53,000 square metres.
Continue ReadingGoodyear Supply Problems Continue
Goodyears fill rates in the USA remain low. Dealers are very unsatisfied and are making their opinions strongly known.
Continue ReadingStock Prices: Risers And Divers
In the fourth week of 2000 the share prices of the tyre manufacturers Bridgestone, Continental, Cooper and Goodyear have hit a 52 weeks low. In this week alone, Toyo Tyres fell 10%, Bridgestone 6% and Goodyear 5%. Just a week before Toyo had marked an increase of 12% while again Goodyear (-8%), Michelin (-8%) and Cooper (-8%) did not fare so well.
Continue ReadingSuppliers Put their Hopes in Nissan/Renault Joint Production
The Nissan factory in Barcelona is not working to capacity and is the obvious candidate for joint production work in similarly built Renault models, according to a statement at the Detroit Motor Show by Carlos Ghosn, ex-Michelin manager, now responsible for the integration of Nissan with Renault. Vehicle suppliers hope to profit from the new arrangements, as Ghosn announced a significant reduction in their numbers. For instance, Hayes Lemmerz supplies nearly all the aluminium wheels to Nissan Europe and is now making big strides with Renault as well.
Continue ReadingFull-Service-Leasing Including Tyres
In co-operation with the Advance Bank ASL (Auto Service Leasing) has developed a leasing concept that includes tyre service too.
Continue ReadingWoosung change of name
At a special ceremony in Seoul, Korea, Woosung Tire Corporation has now announced that from 10th February they would be known as Nexen Tire Corporation. The companys new corporate identity will be made public in the near future.
Continue ReadingGo West – Continental For NYSE
In 1999 Continental’s turnover and EBIT only rose around 35 % while for the same year a 70% increase in net profits to 234.7 million Euros (1998: 138.2 million Euros) is reported. Therefore Conti boss Dr. Stephan Kessel is some kind of disappointed and astonished with regard to the performance of the company’s shares. May this be another reason why Continental has revealed that it would float its shares on the New York Stock Exchange some time within the next three to five years?
Continue ReadingMore Tyres Sold In Germany In 1999
The German rubber industry recorded sales of 18.9 bn Marks (+3.9%) in 1999, of which 11 bn Marks (+5.6%) were tyres. German tyre sales (+6.3%) grew stronger than exports (+4.0%). The dramatic increases in prices of raw-materials is a source of worry for the rubber industry, announced the rubber association W.d.K. (Wirtschaftsverband der deutschen Kautschukindustrie).
Continue ReadingHans-Joachim Brand Leaves Continental
Hans-Joachim Brand (53), who, until the end of 1999, was responsible for the British tyre retail chain NTS, left Continental last month.
Continue ReadingTurnover Up, Profits Down – Nokian’s First Quarter Figures
Nokians net sales in the first three months were up 18.4% over last years figures, reaching 67 million Euros (1999 Q1: 57 million Euros). Operating profit was -4.4 m Euros (2.7 m Euros). Manufacturing made a profit of 2.9 m Euros (5.8 m Euros) while the retail chain made a loss of -6 m Euros (-2.9 m Euros).
Continue ReadingGoodyear Focused On Growth And Profitability
Goodyear Chairman, CEO and President Samir G. Gibara announced increasing growth and profitability at the companys annual shareholder meeting for 2000: Early indicators show encouraging signs that our strategy is working he said. Much of the growth will come from the more profitable replacement tyre market than from sales to auto makers.
Continue ReadingGoodyear Turnaround “On Track”
After a bad year in 1999, Goodyear has announced that the company is now on track with its turnaround strategy.
Continue Reading“Snowprox S950” – Toyo’s New Winter Tyre
In the autumn Snowprox S950 will be available in 55/50/45/40-series. According to Toyo, which celebrates its 25th anniversary in Germany this year, the new winter tyre has (compared with its predecessor M+S 920) improved its performance dramatically.
Continue ReadingEagle F1 Tread Pattern In Le Mans
While, for example Michelin, declares the demands of Le Mans comparable with Formula 1, Goodyear is fitting the Corvette of the official Chevrolet team and a private BMW prototype with the Eagle F1 street tread pattern.
Continue ReadingSignificant Decreases For General Tire USA
A spokesman for Continental, in answer to a question from NEUE REIFENZEITUNG, agreed that the figures from General Tire for the first half of this year are significantly less than figures for the same period last year. Continental will officially release the half year figures on August 9th.
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