Self-Rescue Plan For Kumho
Kumho Industrial, parent company of, among others, Kumho Tires, is currently overwhelmed with debt, due largely to the performance of is Asiana Airlines subsidiary. The company has formulated a self-rescue plan, which involves raising money through selling shares in the tyre company. Few details are publicly available, but it is believed that two foreign financial institutions (one from Hong Kong, the other from the USA) have taken a shareholding worth US$ 1.2 billion in the tyre manufacturer, which will continue to run with the same management. The plan also involves Kumho selling off one of its three petrochemical plants.
Continue ReadingIntroduction Of Eurofleet Messenger
The first edition of a newsletter from Eurofleet has appeared. This is a joint venture between the large German tyre dealer group Team-Reifen-Union and Bandag. Eurofleet plans to create a complete network of 400 service providers in 2,000 different locations and will focus on large European fleets.
Continue ReadingLatest News From Kwik-Fit
Kwik-Fit has been trialling a new, three-stage car care concept at a site in Edinburgh, offering motorists a service beyond that of a standard fast-fit operation. Fault diagnosis and mechanical rectification are available on the same site, as well as the usual fast-fit services. The concept is ready to roll out at selected locations in the UK and could transfer to mainland Europe. Five years qgo, Kwik-Fit launched its insurance scheme for motorists. Originally planned only as a telemarketing operation, the idea to offer insurance was an afterthought, which it was hoped would offset some of the costs. Read how the operation has grown to become the biggust outbound call centre in the insurance industry, plus a significant contributor to group profits.
Continue ReadingFrom Frying Pan To Fire
Firestone would be relieved to know that the companys tyres were not to blame for three bus fires in San Diego, but will be despairing to know that the company failed to meet their contractual obligation to maintain the tyres under a leasing arrangement and will still face action from the San Diego Transit company. San Diego Transit is now in negotiation with Michelin and Goodyear to replace the 2000 bus tyres and supply a maintenance contract.
Continue ReadingVW Microbus On Goodyear Tyres
The New Beetle aroused great enthusiasm in the United States when introduced and now VW wants to repeat the success story with a concept car called Microbus. At the Detroit Motor Show the reincarnation of the love bus from the 50s and 60s, the symbol for the flower power generation, is fitted with modern 20 inch aluminium wheels and Goodyear tyres size P 245/45 R 20.
Continue ReadingIreland To Get Kwik-Fit Mobile Service
Kwik-Fit Fleet is to launch its mobile tyre fitting service in Ireland, servicing mainly business car users at their offices or homes. Kwik-Fit currently has 37 service points in Ireland, with plans to expand. When it comes to mobile service units, the group has 538 vehicles operating in Europe.
Continue ReadingTruck Tyre Manufacturing To Cease At Conti’s Herstal Factory?
Continental is considering whether to discontinue truck tyre manufacturing at its plant at Herstal, Belgium. The factory employs 777 and, should truck tyre manufacturing cease, the company says other activities would be expanded, especially car tyre production using the MMP (Modular Manufacturing Process). Analysts estimate that such a move would reduce Contis truck tyre capacity by 600,000 tyres, or 15 per cent of output.
Continue ReadingDirector Of Marketing Appointed At Goodyear USA
Goodyear Tire & Rubber has appointed Kevin Kramer to the post of director of marketing, consumer tyres for North American Tire. Kramer has been with Goodyear for 18 years and has held numerous marketing appointments in the USA and Singapore. He is replaced in his former post of general business manager for the Southern Region by Steve McClellan, recently general manager of Allied Tires, a Goodyear-owned subsidiary.
Continue ReadingNew European Director Of Advertising For Goodyear
Eric Bequin, Manager of Advertising at Goodyear Luxembourg, will become the new Director of Advertising, Europe, from the 1st of May. He succeeds Rainer Keinath, who is leaving the company voluntarily.
Continue ReadingRubber Prices Down In The Dumps
The price of rubber, at US$0.54, is the lowest for 30 years. Tyre producers, who buy two-thirds of rubber production, are being very cautious in view of the falling demand for cars in the large industrial countries. Thailand, Indonesia and Malaysia want to keep prices high through a cartel but to date have not been very successful. Competitors Vietnam and Cambodia are increasing production, which has kept prices low. The rubber producers are pinning their hopes on China which – if it joins the World Trade Organisation – will import more rubber.
Continue ReadingNo Interests In Aluminium Wheels?
Alcoa Inc. of the U.S. and Dooray Air Metal Co. Ltd. of Korea have jointly announced that they have signed a memorandum of understanding for Alcoa to acquire Dooray Air Metals extrusion business, located in Changwon, Korea. Doorays production of aluminium wheels is not affected.
Continue ReadingKumho UK: The Need To Raise Awareness And Prices
J. M. Kim is the new managing director of Kumho UK and he comes to the new post with his own ideas and plans. He talks to TYRES & ACCESSORIES about the difference between the UK and markets elsewhere in Europe, especially the emphasis on price. He wants to raise the brand image – and selling price – of group products and he believes that this can be achieved by linking the Kumho brand to motorsports performance. Mr. Kim also talks about forthcoming changes and his ideas of working with importers to get a better price for the groups tyres; something which he admits will not be easy to achieve.
Continue ReadingNow It’s Official: Carlos Ghosn Is CEO Of Nissan
The former high-ranking Michelin manager Carlos Ghosn has been officially appointed CEO of Nissan. De facto Ghosn has already been playing this role for months. The move is seen as an attempt to bind Ghosn to Nissan.
Continue ReadingSmuggled Tyres Hurt Ethiopian Economy
Tyres smuggled into Ethiopia through the port of Djibouti cost the Government 64 m. Birr (8.8 m Euro) in lost import duty every year. The illegal trade has affected the Addis tyre factory, which has cut production and laid off workers. Losses incurred by the factory and importers are estimated at 196 m Birr (26.98 m Euro). The problem is a serious one: Berhanu Mewa, President of the Addis Ababa Chamber of Commerce, warned that failure to control the smuggling would cripple the countrys economy.
Continue ReadingDefect Investigation For Ameri*550
The US National Highway Traffic Safety Administration has announced that it is to open a defect investigation into the General Ameri*550 AS P235/70R16. The tyre is manufactured by Continental Tire North America and has been used as a replacement tyre for Firestone Wilderness ATs on Ford Explorers. The investigation follows initial research results show tread separation claims running at 124 per million. This exceeds the rates for any of the other tyres on the NHTSA list of tyres to be examined. The claims against the General Ameri*550 include seven crashes in which the tyre separation allegedly led to injuries. The NHTSA states that the defect investigation does not mean that it has determined these tyres to be unsafe, or to have a safety related defect. Simply that it warrants further investigation.
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