Bridgestone Purchases Outstanding Stake in BATASIA
Bridgestone Corp. has purchased the remaining 50 per cent stake of Bridgestone Aircraft Tire Comp. Asia (BATASIA) from Hong Kong Aircraft Engineering Comp. Ltd. Bridgestone produces new aircraft tyres in Japan and owns retreading plants in USA, Belgium, Hong Kong and Japan.
Continue ReadingCooper To Raise Prices In US
An item in our News In Brief for 13th March suggested that tyre prices in the USA would soon rise. Since then, the Cooper Tire & Rubber Co. has announced price increases of between 2 and 5% for passenger and light truck tyres, effective mid-April. Increases in raw material costs were cited as the reason for the rise, which applies only to the US market.
Continue ReadingMichelin Germany: Record Investments but Reduction in Profits
In the 1999 business year Michelin Reifenwerke KGaA (workforce: 6,747) increased its turnover by 3.2 p.c. or approximately 100 million DM to 3.215 billion DM (1998: 3.115 billion DM). The largest part of total turnover was generated in the German market, where it rose by another 6.3 p.c. compared with the previous year to approximately 60 p.c. of total turnover. As a member of the international manufacturing combine, however, the German factory also supplies the distribution organisations of its European sister. In this Michelin Germany also showed a slight improvement. Total tyre production – measured in tonnes – rose by 2.6 p.c. Sales were up by 4.6 p.c. Michelin sold 8.8 p.c. more light truck and nine per cent more truck tyres in 1999. In winter car tyres in particular the company recorded significant sales growth over the previous year, partly due to the launch of the new products Michelin Alpin and Michelin Pilot Alpin. Our target for 1999 was the modernisation and enlargement of production capacity to improve our competitiveness, said Dr. Klaus Neb as spokesman for the management. In the course of last year the company invested a total of about 128 million DM in its five German factories and plans to make another significant investment this year in modernising and increasing capacity, especially in the truck tyre factories. Neb is convinced that these high investments will pay off. Although economic development will differ from country to country, we expect further growth in Europe for the year 2000. Read more in NEUE REIFENZEITUNG 5/2000.
Continue ReadingUnder One Umbrella – Motorway And Hi-Q
Paul Harrell, the MD of Dunlop-owned retail chain Motorway, has been appointed General Manager, Retail operations UK by the Goodyear group. In his new role he will be responsible for the operations of both Motorway and Goodyears Hi-Q retail chain.
Continue ReadingDeath Of The Son Of General Tire’s Founder
John ONeil, for many years a Director of General Tire & Rubber – the company his father and tyre pioneer William ONeil founded – died on 5th April, aged 82.
Continue ReadingProfit Expectations At VW Have To Be Reduced
According to the German magazine Stern VW has to reduce its profit expectations for the actual business year by 1.9 billion DM in comparison with its mid-term forecast. In February VW-boss Ferdinand Piëch already requested better results from subsidiary companies Audi, Seat and Skoda. Critics fear that the latest excursion into the luxury-segment (D1) will have a negative effect on the core business of VW.
Continue ReadingBridgestone Again GM’s Supplier Of The Year
The Bridgestone group, suppliers of Bridgestone and Firestone tyres to General Motors plants around the World, has received the Supplier of the Year Award from GM for the fifth year in succession.
Continue ReadingCash Dividend For Titan’s Second Quarter
Titan International (Quincy/Illinois) has announced a cash dividend of one and a half cents per common share for the second quarter of 2000.
Continue ReadingDividend Declared By Goodyear
On 1st August, the Goodyear Tire & Rubber Company declared a quarterly dividend of 30 cents a share, representing an annual rate of $1.20 per share. The dividend is payable September 15, to shareholders registered at August 15.
Continue ReadingXM 108 With Improved Performance
Michelins popular agricultural tyre XM 108 is available with an improved performance and higher load indices.
Continue ReadingInvestors Better Off With GM Shares Instead Of Ford
Analysts are recommending investment in GM rather than Ford. Ford is under the public microscope and the focus of analysts. This week, the shares have fallen 13%, representing damage to the group of more than US$ 10 bn. The management is accused of having known about the problems - which have led to the voluntary recall of Firestone tyres - for around two years. Consumer groups and official authorities want an answer to the question whether Ford has worked (ie changed or improved) on the suspension of its vehicles in Venezuela in order to overcome the problems there. The reaction at the stock exchange has probably gone far too far, as, even if the company had to mount a vehicle recall, the figure of US$ 10 bn is too high. The real costs, if any, would be in the region of US$ 1 bn or less.
Continue Reading30 Years Of BBS
This year alloy wheel producer BBS celebrates its 30th birthday. BBS is not one of the biggest producers of aluminium wheels but intends to grow significantly: from 2003 BBS plans to build up capacities of more than 4 million pieces a year at its headquarters in Germanys Black Forest town Schiltach, at Italys Ruina factory near Ferrara and at a new plant in Herbolzheim near Freiburg. BBS is an oe supplier for car brands like BMW, Mercedes (AMG), Porsche, Ferrari, Jaguar, Saab, Volvo, Peugeot and Volkswagen and specialises in highly sophisticated wheels which means that the wheels are in extreme sizes or modular or have additional other special features. The history of BBS includes a lot of success in motorsport. BBS has been producing wheels for motorsport since 1974, and in 1991 the cooperation with Ferrari began. High-end products are the forged magnesium wheels for Formula 1 which are also flow-formed. Not only Ferrari with top driver Michael Schumacher, but also Benetton, Jaguar, Arrows, Prost, and hundreds of racing teams in other series all over the world trust in racing wheels by BBS – one of the main reasons that BBS is also the image leader in the alloy wheel aftermarkets of the world. Learn more about BBS in NEUE REIFENZEITUNG’s October issue.
Continue Readinglusive License To Kuhl Wheel Technology For Hayes Lemmerz
Hayes Lemmerz and The Epilogics Group have announced that Epilogics has granted Hayes Lemmerz worldwide exclusive rights to the Kuhl Wheel technology. The Kuhl Wheel design integrates the hub and spokes into a one-piece stamping. Using standard steel rims, these wheels weigh significantly less than conventional steel wheels and allow greater flexibility in wheel trim design.
Continue ReadingConcerns For Michelin Over Prost F1 Team
Michelin is worried that data on its tyres might be made available to Ferrari (Bridgestone) if the French company supplies the Alain Prost F1 team with tyres next season. Prost will be using Ferrari engines. As the new company on the block, Michelin is obliged to supply 60% of the grid. Bridgestone has signed with six teams, and says that it is not looking for more, which would appear to leave Michelin with little choice other than to supply Prost.
Continue ReadingTop Spot Again For Michelin In US Survey
In the US, J.D. Power and Associates conducted an OE tyre satisfaction survey among 31,000 buyers of new vehicles. Michelin came top in the car and minivan category for the third year running and won the light truck category (including pickups and SUVs) for the second consecutive time. Runners-up in the car segment were (in order) Continental, BFGoodrich and Dunlop. In the light truck category, Michelin was followed by Dunlop, BFGoodrich and Firestone. The survey took place before the Firestone tyre recall.
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