First Quarter Results Of Michelin Better Than Expected
Michelins Q1 sales rose by 14.8% to 3.59 bn Euro; 464 m Euro more than for the same period last year. The EBIT level is, as expected, in the region of 10% of turnover.
Continue ReadingContiTech To Increase Stake in Kühner
After procuring 51 percent of Kühner (Oppenheim) in order to strengthen its market position, ContiTech now intends to acquire a further 35 percent of the company, which produces hoses for air conditioning equipment. The deal is planned to become effective 1st May.
Continue ReadingTragedy In Vredestein’s Home Town
Vredesteins home town, Enschede, was devastated by the recent explosion in a fireworks factory and subsequent fire. One Vredestein employee, his wife and one child are missing, another employee lost two children and his in-laws. 14 employees lost their houses and another 29 were damaged. Throughout the fire, the Vredestein voluntary fire brigade was active and helped the official firefighters. Obviously tyre production was affected, but was soon back to normal.
Continue ReadingPrivate Brand Platin
Platin is the private brand of German wholesaler Interpneu (Karlsruhe). Continental replaces the former producers.
Continue ReadingStrategic Global Alliance Of Cooper And Nishikawa
Cooper-Standard Automotive of the Cooper Tire & Rubber Company (Findlay/Ohio, USA) and Nishikawa Rubber Company (Hiroshima, Japan) are to strengthen their strategic global alliance.
Continue Reading10% Share Of Sumitomo Rubber Industries for Goodyear
As part of the global alliance between Goodyear and Sumitomo Rubber Industries (SRI) Goodyear now owns 10% of SRI making the Americans the second largest shareholder of the Japanese company. The biggest one is Sumitomo Electric Industries owning 29.5%.
Continue ReadingReifen 2000 Review
The biennial Reifen show in Essen has grown and grown to become what is regarded as the most successful and most impressive show in Europe devoted to tyres and ancillary products. This year’s event was the 21st show and boasted 408 exhibitors – a 13% increase over 1998. 40 countries were represented at Reifen 2000. However, visitor numbers dropped 3.75% to 15,400, but this was regarded as not significant and due to a number of one-off factors rather than a sign that Reifen has begun to lose its appeal. Our review of the show includes articles on no fewer than sixty companies who were exhibiting, from all over the world and the coverage reflects the importance of what many regard as Europe’s premier tyre exhibition, and one which is attracting an increasingly global exhibitor and visitor base.
Continue ReadingGottfried Hess Becomes Goodyear Finance Boss In Germany
Gottfried (Geoff) Hess (58), up till now President of Goodyear Indonesia, is returning to Germany as head of finance for Goodyear and Dunlop in Germany.
Continue ReadingRecall Does Not Prove Firestone Liable Says Ono
Chief Executive of Bridgestone/Firestone Inc, Masatoshi Ono, has told lawyers that the tyre recall in the USA had been carried out for safety reasons and was not an admission that the tyres in question were defective in any way. Neither was his public apology in September an admission that B/F Inc was admitting any liability.
Continue Reading160,000 Tyres To Be Replaced By Continental
Continental General Tire will replace 160,000 Contitrac AS MXS tyres, size P245/75R16, of which 140,000 were mounted on Fords Lincoln Navigator and 20,000 were delivered into the aftermarket. The tyres were produced in the Mayfield factory (Kentucky/USA) between January 1997 and 11th week of 1998. In 62 cases faults have been revealed, some tyres have suffered tread separations in remarkably similar circumstances to the current recall of Firestone tyres: the incidents occurred in Saudi-Arabia, where Firestone tyres have been under scrutiny, and again a Ford vehicle – the Lincoln Navigator – was affected. Up till now it is known that two people have been hurt in accidents, which could have been caused by tyre defects. The Stock Exchange Responds Quickly To The Tyre Recall From Continental. Within a few hours, Conti-shares lost around 8 % of their value.
Continue ReadingJob Cuts At Tenneco Automotive USA
Tenneco Automotive, the manufacturer of Monroe shock absorbers and Walker exhaust systems, has laid off 285 salaried workers at four sites in the USA. The move follows a steep fall in operating profits and is part of a world-wide programme of up to 700 job cuts. Tenneco has 70 factories in 21 countries.
Continue ReadingSenate Approves New Powers to NHTSA
The US Senate, last night approved legislation prompted by the Bridgestone Firestone tyre recall. The new measures strengthen reporting requirements for automotive related manufacturers. The enforcement powers given to the National Highway Traffic Safety Administration allow them to impose civil and criminal penalties for misleading the government about auto defects which result in death and injury. The maximum civil penalty for violations has been raised from $925,000 to $15M, and prison terms of up to 15 years have been prescribed, alongside fines of up to $100,000 for withholding information in cases where death occurs. The legislation instruct NHTSA to conduct tests into SUV safety and issue rules requiring the fitting of safety devices to warn drivers of underinflated tyres.
Continue ReadingDrive Up Help From Continental Teves
Brake specialist Continental Teves has developed an electronic system that takes over the function of the handbrake when driving up a hill or mountain. The drive up help will go into production in the year 2002 and functions as follows. When the driver has stopped the car and presses the clutch, the brake system automatically builds up the exact brake pressure needed in order to prevent the car from rolling back on a slope. When driving resumes, the electronic system measures the brake pressure and ensures a smooth start without any jerks.
Continue ReadingStrike Ends At General Tire
Employees at Continental General Tire’s plant in Bryan, Ohio USA have signed an agreement ensuring an increase in wages and pensions plus a regulation of working time (a four shift programme, seven days a week) up to the year 2006. The same agreement will apply in Charlotte, General Tire’s largest plant in North America, where employees had been on strike for over a year to achieve these improved conditions. Continental’s workforce has diminished from 1,450 to around 1,300 following the strikes.
Continue ReadingVredestein; Wider And Faster
The Dutch manufacturer has announced the introduction of a new Z and W-rated tyre later this year, aimed at sportscars and luxury cars.
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