Going Down In The USA: Continental General
The US business of the German group is in trouble. In the 4th quarter Continental General suffered an operating loss of 17 million Euro, making an operating profit for the whole year of 12 million Euro. This is around 50 million Euro worse than in 1999, which was itself a bad year. Turnover for the year as a whole rose by 18 per cent, helped by the Firestone tyre recall. The question remains whether the US arm of the German tyre manufacturer is too small to be successful in the worlds biggest market?
Continue ReadingRe-organisation For Goodyear Dunlop Europe
Goodyear Dunlop Tires Europe has announced the appointment of three managing directors for France, Germany and the UK. Sylvain Valensi will head up France, Gerd Grünenwald takes control in Germany and Marco Molinari returns to the UK for his second stint as MD. Goodyear GBs current MD – Steve MacDonald – will retire after 27 years with the company.
Continue ReadingRubber Producers Plan To Cut Output
Thailand, Indonesia and Malaysia – the worlds three biggest rubber producers – have agreed to cut natural rubber production by 4 per cent next year in an attempt to increase prices. However, traders are sceptical of the chances of success, saying that many rubber producers are small, private businesses which would be difficult to control.
Continue ReadingCongress Appearance For Ford And Firestone
Fords Jacques Nasser and BF Incs CEO John Lampe are due to face questions from a Congressional committee regarding the spate of rollover accidents involving Ford Explorers fitted with Firestone tyres. This comes as the death toll in such accidents rises to 203 and lawyers in Florida, representing a family who had two members killed and three others injured in an accident, are seeking $1 billion damages from Bridgestone/Firestone Inc.
Continue ReadingDevelopment Of Chinese Market Creates Demand
The rapid expansion of the Chinese automotive industry has created a demand for rubber components. This has developed an import market for specialised rubber products and is producing a boost to the rubber products sector, with special interest in acrylate rubber, ternary ethylene propylene rubber, thermoplastic rubber, flourine rubber, nitrile hydride rubber and chlorine alcohol rubber.
Continue ReadingGerman Car Registrations Prognosis Revised
The German car industry will this year, for the fourth time, produce more than five million cars, announced the association of the car industry in Stuttgart. The losers in terms of car sales are expected to be the importers. For the year as a whole. it is estimated that there will be 3.33 million new car registrations in Germany – about 50,000 fewer than the previous year. Exports are expected to reach a new record.
Continue ReadingUS Survey Shows Under-inflation Problem
Despite reports suggesting that under-inflation of Firestone tyres was a contributory factor in Explorer rollovers, a survey by the National Highway Traffic Safety Administration reveals that US drivers are not taking the message on board. The pressure of over 11,500 tyres was measured over a two week period and 27 per cent of cars and 32 per cent of vans, SUVs etc. had at least one under-inflated tyre (8 p.s.i. or more below the manufacturers recommended pressure). Vehicles made after November 2003 will have to incorporate a tyre pressure monitoring system as standard, according to NHTSA rules being drafted at the moment. The survey shows how badly such a system is needed, says the agency.
Continue ReadingIAA In The Shadow Of Terror
The tragic terrorist attacks against the United States had an effect on the 59th International Automotive Exhibition (IAA), which took place in Frankfurt from 13th to 23rd of September. For a moment it seemed that, as a reaction to the catastrophes in New York and Washington the whole event would have to be cancelled. However, the authorities decided to continue with the show at a subdued level – which meant that exhibitors cancelled their music and showcases, reducing the programme to pure product presentation level. It was a quiet show, is how Prof. Dr. Bernd Gottschalk, President of the German Car Manufacturers Association (VDA) summed it up. The official opening ceremony with Chancellor Gerhard Schröder was also cancelled. At noon on Thursday 23rd a five minute silence was held over the whole exhibition area in memory of the victims. The first press day of the IAA was attended by around 10,000 journalists who came to report on the 57 world premieres at the show. The news of the apocalyptic terror attacks spread very quickly amongst press representatives and exhibitors alike. In some areas of the exhibition, for example, hall number 10, which was occupied by the garage equipment suppliers, exhibition activities immediately broke down completely. Groups of visibly shocked people followed the TV transmissions. The shadow of extremist terror had touched even this event.
Continue ReadingTwo New Amcast Wheels For General Motors
Amcast Industrial Corporation has announced it has won the contract to supply two new aluminium wheels for General Motors. The wheels will appear on the 2002 Chevrolet Malibu and Cavalier. Shipment will begin during the fourth quarter of 2001.
Continue ReadingFord And Scheele Take The Helm At Ford
To nobodys great surprise, Jacques Nasser has been replaced as Chief Executive of Ford, following losses, a dividend cut and the expensive wrangle over Firestone tyres and the Ford Explorer. William Clay Ford Jr. assumes the role of Chief Executive Officer and Sir Nick Scheele, until recently in charge of Fords European operations, has been appointed Chief Operating Officer.
Continue ReadingNew Chairman And CEO Of Bridgestone/Firestone Europe
Mr Shoshi Arakawa has been appointed chairman and chief executive officer (CEO) of Bridgestone/Firestone Europe (BFE). He succeeds Mr Takeshi Uchiyama, who retires and returns to Japan after leading BFE for the last three years.
Continue ReadingService From Vredestein
With its Tyre Information Center, Vredestein is offering a special service for tyre specialists. Under the e-mail address info@vredestein.com, the service provides speedy and competent answers to technical questions regarding tyres.
Continue ReadingKorean Tyre Manufacturer Helps American Victims Of Terrorism
Tyre importer, Hankook Tire America has joined Goodyear, Michelin, and Bridgestone in donating funds to assist the victims of the terrorist attacks on the 11th September. 100,000 dollars are being donated to the American Red Cross.
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 ReadingAnnouncement Secures Future Of Nissan Plant In UK
Nissan has made the decision to build its new Micra model at its Sunderland, UK, factory, rather than France, following approval of a 40 million Pound grant. The news is expected to secure 500 jobs at the plant and has been welcomed by the Government as evidence of Nissans long-term commitment to the north east. It is thought that Nissan will demand that, in the future, more of its component suppliers for cars made at Sunderland submit invoices in Euro rather than Sterling.
Continue Reading
