Deutsche Bank Recommends Michelin Shares As A “Buy”
Despite the difficult environment which is not likely to lead to improvements in the coming half year Deutsche Bank is recommending Michelin shares as a Buy. The analysts believe that the focus on high performance tyres will pay off and they believe also that, due to the anticipated sale of the Pirelli truck division, competition will be lower in the future for Michelin, which is very strong in that market.
Continue ReadingNew presidents For Goodyear Chemical And Engineered Products
Tim Toppen, former president of Goodyear Chemical, has been named as president, Goodyear Engineered Products. This follows the sudden death of Tave Mallamaci, president of GEP since August last year. Toppen has been with Goodyear since 1978. His replacement as president of Goodyear Chemical is Jonathan Rich, who was director of chemical R&D, and who joined the tyre company last September. Both moves are effective immediately.
Continue ReadingSpokesman Required At Goodyear
Goodyear vice-president of global communications, John Perduyn, is to retire at 62 at the end of this year. The company has engaged Korn/Ferry International to search for a replacement spokesman. Internal candidates will be considered for the post which handles a wide range of tasks, from advising senior executives on how to communicate their messages to operating the Goodyear Blimp, not forgetting dealing with the media.
Continue ReadingVietnamese Truck Tyre Production Begins at Casumina
The Vietnamese Southern Rubber Company has begun production of truck tyres on a new production facility using Japanese technology. The first week’s production in August totalled 1,000 tyres. The quality of the tyres produced is claimed to equal that of imported tyres from Korea and India. The Vietnamese tyres are 25 per cent cheaper than the imported brands. Production will build to around 10,000 tyres per month, going some way to alleviating the shortfall in supply of tyres. The country needs 500,000 tyres every year but currently supply is limited to 200,000 units.
Continue Reading890 To Go At Pacific Dunlop
As part of its major restructuring, Pacific Dunlop is to close two Victoria-based tyre plants in Australia. The move is aimed at ensuring the future of South Pacific Tyres and will result in 890 job losses – 820 at the factories and 70 in management and back-office positions. Olympic Tyres Ltd has confirmed that it has secured continuous supply of Olympic Tyres, supplied by South Pacific Tyres. Olympic distribute SPTs agricultural, off road and construction tyres throughout the UK and much of Europe.
Continue ReadingEMT Runflat Tyres By Goodyear Are #1 Worldwide
Goodyear, supplying nearly 50 original equipment runflat tyre fitments to eight manufacturers, is the world leader in runflat tyres. The latest EMT (Extended Mobility Technology) fitment is on the Mini, a new product from the BMW Group which will have the Goodyear Eagle NCT5 EMT runflat tyres as an option. The company has runflat manufacturing capability in Fulda, Germany, and at plants in the USA.
Continue ReadingArvinMeritor European Director
Thierry Leblanc (41) is joining the ArvinMeritor group as European Sales and Marketing Director for the Light Vehicle Aftermarket division (shock absorbers, exhaust systems, catalytic converters and filters). Mr Leblanc joins from Valeo Windscreen Washing Systems where he was Aftermarket Director. He succeeds Fabrice Rosi, who remains a consultant at sales and marketing level to the ArvinMeritor Light Vehicle Aftermarket division.
Continue ReadingThe “30 Metre Car” From Continental
One of the Holy Grails of the auto industry, and the tyre industry in particular, has been a car which would stop in 30 metres from a speed of 100kph. Continental AG has recently demonstrated a highly upgraded version of a compact-sized car that will achieve that goal. The development of a car able to achieve this goal, the 30-metre car, has been set as a target by Continental, and others for some years, but Continental is the first claiming to have achieved the target. Continental’s team dedicated to the project was entitled Reduced Stopping Distance project. The current best stopping distance from 100kph from a compact car is 38.5 metres; so attaining a reduction of 8.5 metres is a quite a considerable achievement for the Continental team. The project brought together development researchers from Continental’s tyre business, with experts from Continental Teves, the brake and electronic systems operation; the latter now part of Continental Automotive Systems Group. This expertise, combined with existing knowledge of air suspension, mounting and chassis systems, were all brought together within the ContiTech Group to place the group at the vanguard of the chassis development sector. According to Dr. Stephan Kessel, We want to be the forerunner in total chassis management so we’ve also got to have the appropriate damping and steering skills. This suggests that further acquisitions may be under consideration in the near future.
Continue ReadingTemporary Pay Cut For Bridgestone Board
Following the profits warning issued by Bridgestone, the companys directors have taken a 30 per cent pay cut for four months and there will be no bonuses for senior executives. President Yoichiro Kaizaki said that there are no plans to reduce wages of workers in the USA, despite the fact that Firestone is expected to record a loss this year of US$ 500 million. Looking at the prospects for the Bridgestone group, Mr. Kaizaki predicted a net profit for 2001 of 48 billion Yen.
Continue ReadingAbout the 4×4 Tyre Market
The market for off road vehicles is constantly changing; also the market for suitable tyres and wheels. In the 80s Japanese car makers Toyota, Nissan, Suzuki, Mitsubishi and Honda created this market with 4 wheel drive vehicles able to be used on rough terrain. Now the 4x4 cars have become more suitable for use on the streets and the term Sport Utility Vehicle (SUV), replaces the former Off Road Vehicle. Car manufacturers like Ford, Chrysler, BMW and Mercedes have discovered that this has become more than just a niche market. Explorer, Cherokee, X5 and M-class are closer to luxury cars than those for use off the beaten track. Some tyre manufacturers have developed their off-road programme in this direction, whilst others have directly used the platform of existing passenger car tyres for this new generation of vehicles. The 4x4 tyre market will grow within the next few years as a lucrative market segment for the tyre industry, tyre dealers and also for the light alloy wheel business. Typical consumers in the 80s, with sparsely-equipped Suzukis, were not able to invest much money in tyres and wheels, but nowadays drivers of these cars are members of a more affluent society. The trends are very similar to passenger cars, with sizes becoming larger, faster, V, W, Y and Z speed ratings and higher load indices.
Continue ReadingThree-Year Racing Tyre Agreement Between Michelin And Porsche
Michelin and the Motorsport Division of the Porsche Club Great Britain have signed an agreement whereby Michelin will supply all tyres for the Porsche Cup and the Porsche Classic motor racing championships for the next three seasons. Cup competitors will use slick and wet racing tyres, while Classic racers will use specially-developed, road-legal Pilot Sport Cup race tyres.
Continue ReadingGood Figures For Peugeot
Sales for the French car manufacturer for 2000 were 19 per cent up on 1999 figures, reaching 2.82 million cars. The management is optimistic that it will manage another 6 per cent this year, increasing sales figures to 3 million vehicles. The additional sales will come from the launch of new models.
Continue ReadingJapanese Firestones More Durable?
An Arizona-based panel of experts assembled by an attorney acting against Firestone has stated that Firestone tyres made in Japan are more durable than those made in America. The ATX tyres manufactured in Japan are claimed to carry thicker layers of key rubber materials, which prevents damaging cracks from appearing. Firestone denied the claim, admitting differences in production but not in durability, the company added that the findings are not based on scientific analysis but on anecdotes and unsupported theories.
Continue ReadingBoom In Alloy Wheel Original Equipment
Car makers in a lot of markets grieve over significant reductions in new car registrations. One should not forget that, for most suppliers, from whom parts are needed for the production of cars, the consequences are negative also. But not for manufacturers of light alloy wheels: a flood of special car editions and generally growing fitment rates – in comparison with steel wheels – means that the European aluminium wheel manufacturers are selling all that they can produce. New facilities are even having to be built. The aluminium wheel in original equipment changes from a part which raises the value of a car to standard fitment, even for middle class vehicles. In spite of these favourable conditions, the sector is under pressure. The middle-class structured alloy wheel manufacturers cannot resist the downward trend of prices, caused by the car manufacturers. This is especially so because the purchase of this product happens more and more on a global scale. Besides this, the number of possible oe suppliers of cast aluminium wheels is still enormous. A process of consolidation (as in other segments supplying oe) has not happened, until now.
Continue ReadingCooperation Of Continental Teves with Iranian Brake Manufacturer
Continental Teves (Frankfurt), part of the Continental Automotive Systems Group, has signed a licence agreement with Toklan Toos, the largest brake manufacturer in the Middle East. The company will produce and sell Electronic Brake Systems (ABS) in Iran.
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