Nissan’s Xterra is US “Truck of The Year 2000”
Spokesmen of The Big Three expect auto sales this year to be about 16.5 to 17 million vehicles.
Continue ReadingCooper-Avon Adjust UK Production
Cooper-Avon Tyres has announced that it is to phase out the production of medium sized truck and bus tyres at its Melksham, UK plant. The company intends to concentrate on passenger, light truck, motorcycle and racing tyres.
Continue ReadingNew Record in Winter Tyres Sales
Never before so many winter tyres were sold in Germany. The dealers association BRV estimated 17 million units (= +15.3%) for 1999. Also the aftermarket in summer tyres was in plus (+0.9%) with 23 million in total.
Continue ReadingBad News For British OE Suppliers
The bad news for British oe suppliers continues. It is still uncertain what will happen to Rover Cars; Honda wants to cut production by more than 50 per cent, and there are rumours that Ford plans to close its Dagenham plant as a result of European overcapacity.
Continue ReadingNew Pirelli Germany Finance Chief
Michael Schwöbel (37), who has been with Pirelli since 1982, has been appointed to the board of Deutsche Pirelli Reifen Holding GmbH, with immediate effect, responsible for finance and control. His predecessor, Claudio de Conto, has been appointed Director of Planning and Controlling at the parent company in Milan.
Continue ReadingIndian Tyre Manufacturer To Be Acquired By Pirelli
As reported by the Indian magazine Rubber Asia, Pirelli has sought the expertise of Citybank for a cost evaluation of the Birla Tyre company, which has a 15 per cent share of the Indian truck and automotive tyre market. The deal, if everything goes well, is likely to be struck sometime this month.
Continue ReadingPrototype Wheel By Bridgestone And Topy
Tyre producer Bridgestone and wheel producer Topy Industries (both Japan) have announced the development of a prototype wheel for automobiles that contains a special rubber between wheel rim and disc to reduce noise and increase comfort.
Continue ReadingA New Factory For Marangoni Tyre
The May issue of TYRES & ACCESSORIES contains an interview with Andrea Vassura, managing director of Marangoni Tyre. Speaking at the launch of Marangoni’s extended range of high performance tyres, Mr. Vassura revealed that the company was planning to build a new factory with an annual capacity of 4.5 million tyres. The existing plant at Anagni, which can produce three million tyres a year, is currently running at 90% capacity. The site of the plant has yet to be decided but the choice seems to be between Southern Italy or somewhere in Eastern Europe. There are substantial grants on offer from the Italian government for those who invest in the area, but Mr. Vassura says that no decision will be made until later on in the Summer. Marangoni Tyre had been offered the Cisterna di Latina factory, recently shut down by Goodyear, but it did not meet the company’s requirements. As a profitable tyre manufacturer, would Marangoni Tyres make a tempting takeover target in these days of consolidation? Mr. Vassura has no fears about this, as the sheer size and diversity of the parent group offers sufficient protection, he believes. On the other hand, Marangoni Tyre is small enough to be flexible and allow Mr. Vassura to make decisions quickly.
Continue ReadingMovements In The Car Market
Ford predicts that it will once again reach a 10 p.c. market share in Europe within three years, according to the Wall Street Journal. Luxury car sales will play a large part in reaching the target. Renault and Nissan are moving closer together in Europe, merging their sales organisations. Around 9% of the 5,600 jobs are expected to be lost, saving some 1 billion Euro. By 2002, DaimlerChrysler intends to create 15,000 jobs. 5,000 of these will be in Germany in the service field of leasing, fleet management and fast fit services, according to the Financial Times Deutschland.
Continue ReadingTronchetti Provera Considers Positively The Goodyear/Michelin JV
The Chief Executive Officer of Pirelli, Mario Tronchetti Provera, considers the PAX-agreement between the two tire giants positively. Pirelli is already a developing partner, together with Michelin, regarding PAX and Run Flat Technologies in general. Tronchetti said that Goodyears involvement will further accelerate the development and the promotion of PAX.
Continue ReadingPrice Adjustment For Precipitated Silicas And Silicates
Degussa-Hüls AG of Frankfurt/Main (Germany) is to increase prices by 5% for precipitated Silicas and Silicates effective from June 15. The company argues that energy cost increases could no longer be offset by other measures. Silica is an important component for the reduction of rolling resistance in green tyres, as are rubber silanes and rubber blacks.
Continue ReadingDr. Kessel Names Pirelli As Ideal Partner
In an interview with the German publication Frankfurter Allgemeine Zeitung, Conti boss Kessel said that Pirelli would be an ideal partner for the tyre business, as this would produce significant synergies. To date, there has been no contact with the Italians over this matter.n According to Kessel, Continental need not fear any possible hostile takeover attempt because the car manufacturers would be very interested in maintaining competent and independent suppliers. In addition, the company could rely on strong backing from its individual important shareholders, such as Deutsche Bank, Dresdner Bank and Allianz insurance company, which together hold 16%. Kessel did not mention the fact that, in light of the low stock price, analysts had changed their minds last week and that most, if not all, of them do not regard Continental shares as a buy any longer. Hard times for Continental!
Continue ReadingIs Continental Facing A Hostile Takeover Bid?
An article in the German magazine Wirtschaftswoche suggests that the Thyssen-Krupp group is planning a take-over bid for Continental. Whether or not this is the case, it throws up some interesting possibilities and our article analyses whether such a course of action is feasible and what it would mean to Continental. The article also examines what the effects would be on the European tyre market and how the big tyre manufacturers might react to such an eventuality. Should Thyssen-Krupp mount a successful bid, the chances are that it might decide that Continental’s tyre division is surplus to requirements. Given such a situation, the implications for companies such as Michelin, Bridgestone and Pirelli are enormous and the article explores the different scenarios that might arise from such a course of action and the defensive measures that the tyre giants might take. Is the Thyssen-Krupp bid a figment of the imagination, or an attempt to boost Continental’s share price? The article concludes that Continental is a tempting target for a takeover bid (by somebody) and that its recent strategy makes the group more defenceless than in the past.
Continue ReadingFord Award For Hankook
The Ford Motor Company in Dearborn has bestowed its Q1 award on Hankooks tyre plant in Taejon, which produces light truck tyres for Ford. The factory is located 130 km south of Seoul and produces 65,000 passenger car and light truck tyres daily.
Continue ReadingStatistics Query Firestone as Cause
According to the Washington Post, the Ford Explorer has a higher than average accident rate compared to other SUVs. The report was based on statistical analysis of national and Florida state crash statistics. The report suggests that there is evidence that there may be a vehicle related problem contributing to the accidents.
Continue Reading