Bridgestone 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.
Continue ReadingIs Continental Chasing Matador?
Since January 1999 Continental has held a 75% stake in Matadors truck tyre production. Now rumours suggest that Continental is seeking the same deal for passenger car tyre production. There is no confirmation of this from Continental. Up until now Matador management has been keen to remain independent as far as passenger car tyre production is concerned. Matador see opportunities to develop passenger car market share throughout Europe as well as maintaining its successful position in Russia.
Continue ReadingUnease For DaimlerChrysler
According to US-based news reports, Dieter Zetsche, currently head of the truck division, is to be named as the new head of Chrysler, replacing Jim Holden. This is taken as a signal that the firms problems in America run much deeper than previously thought. It suggests that the market resistance to the Chrysler product is not solely price-based. As the problem develops and becomes more public, the greater the questions raised will be, regarding the wisdom of the Daimler-Benz/Chrysler merger.
Continue ReadingRichard Sloan Appointed Tenneco Vice-President Europe
Tenneco Automotive Europe has appointed Richard Sloan as Vice-President of the company. He is responsible for the two Tenneco brands Monroe (shock absorbers) and Walker (exhausts).
Continue ReadingProfit Warning For Avon Rubber
Avon Rubber, British supplier of components for the automotive industry and not to be mixed up with the tyre manufacturer Avon, has released a profit warning. Due to pricing pressure and the strong British Pound the company will probably not achieve the profits expected. Experts think that Avon Rubber is too small for a global market, while the company itself recently blamed falling car production in the UK for the drop in annual profits.
Continue ReadingReifen Schneider Calls In Receiver
The German tyre dealer Reifen Schneider (Mulheim-Karlich) called in the receiver in late December last year. At its peak the company was selling about half a million retreaded tyres from the Technic Group and it is most likely that the Germans were strongly affected when the British retreader ceased trading at the end of 1999.
Continue ReadingDegussa-Hüls Price Increase
The worlds number two for carbon black with plants in Europe, North America, Africa and Asia, Degussa-Hüls AG, is planning a price increase for this material necessary for the tyre production. In Europe Prices will rise 22 Euro/1.000 kg starting 15th March 2000.
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