84% Drop In Pirelli Profits
Pirelli reported a first quarter fall in profits to 148m Euro, an 84% drop on the first quarter of 2000. The company stated that the slump was artificially large as Q1 2000 figures included proceeds from the sale of two cable companies to Cisco Systems. Profits before tax, however, are up, sales are up, and operating profit rose by 5.6% to 57 m Euro. Pirelli expects full year net profit to be at least in line with that of 2000.
Continue ReadingFirst Ferrari President’s Prize Awarded To Bridgestone
Bridgestone became the first winner of Ferraris Presidents Prize, one of only two to be awarded to suppliers of Ferrari and Maserati, marking excellence and innovation. Ferrari President Luca di Montezemolo presented the award to Shoshi Arakawa, president and CEO of Bridgestone/Firestone Europe at a ceremony at Ferrari HQ. Also present was EC president Romano Prodi. The award was in recognition of Bridgestones role in helping Ferrari to the F1 Constructors and Drivers championships and for tyre development for Gran Turismo cars.
Continue ReadingBoard Appointment For Goodyear
Philip A. Laskawy, (60) who retired as chairman and chief executive officer of Ernst & Young LLP on June 30, has been elected to the board of directors of The Goodyear Tire & Rubber Company. Mr. Laskawy successfully led Ernst & Youngs re-engineering effort that resulted in higher levels of customer service, greater diversity and outstanding revenue growth, said Goodyear chairman and CEO Samir G. Gibara. His experience and focus on change management will be a valuable addition to our Board as Goodyear seeks to get even closer to its customers.
Continue ReadingTyre Monitoring Proposals Made
The US National Highway Traffic Safety Administration has proposed new federal standards for the installation of tyre pressure monitoring systems in passenger cars, light trucks and SUVs. The first option requires that the driver be warned when the pressure in one or more tyres, up to a total of four, has fallen to 20% or more below the recommended cold inflation pressure, or a minimum pressure specified in the new standards. The second option is that the warning is given when the pressure in one or more tyres, up to a total of three, falls below 25% of the recommended cold inflation pressure, or a minimum pressure specified in the new standards. These US recommendations are bound to give impetus to the marketing and development of tyre pressure monitoring systems throughout the market.
Continue ReadingFor Every Season: Goodyear’s “Vector 5″/”Eagle Vector (EV-2)”
Goodyear unveiled its newest generation of all- weather tyres, the Vector 5 and the Eagle Vector (EV-2) in Luxembourg at the end of August. The new tyres deliver superior safety on dry and wet roads all-year round as well as in snowy or icy conditions. The highlight of the new SmartTRED technology featured in these innovative products is that different areas of the tyres profile, each with distinct properties, come into play, depending on the conditions of the road. The Vector 5 and Eagle Vector (EV-2) will appeal particularly to drivers who usually drive in urban areas or on the flat and who want optimum safety even in adverse weather conditions. They need a tyre that is an excellent all-round performer in the moderate and temperate driving conditions they encounter for 90% of the time they use their car. However they want added safety and peace of mind in heavy rain and when temperatures drop towards freezing or even on snow and ice. Another interesting feature of the new tyres for the cost-conscious driver is that the mileage of these latest all-weather tyres has increased by around 15 percent over previous models. The central profile blocks of the Vector contain a substantial number of 3D-BIS blades – fine incisions in the rubber, whose edges bite into the surface of the road in so-called low friction conditions. This creates a significant increase in traction and grip on wet roads as well as on snow and ice. The new Vector 5 is immediately available in 21 versions ranging from 155/70R13 to 195/50R15 with a T speed rating (up to 190 km/h). The high performance version Eagle Vector EV-2 will be available in 13 sizes ranging from 185/65R14 H (210 km/h) to 205/55R16 V (240 km/h).
Continue ReadingRun-flats Primed To Satisfy J.D. Power Consumers
More Goodyear run-flat tyres are on the road than any other. A study by J.D. Power and Associates says that nearly seven out of eight consumers place run-flat tyres at the top of their list of desired features. The report shows that consumers want safety-related features more than sophisticated entertainment systems or other convenience features in their new vehicles.
Continue ReadingInternet Sales Disappointment
Continental has ended its co-operation with Autobytel Europe. The tyre manufacturer had intended to invest 15 million Euro in retail sales via the Internet. The company has revised plans and is eschewing B2C activities to concentrate on B2B developments. Swedish customers in the test market can already access the tyre module from car broker Autobytel.
Continue ReadingOn The Way To Chassis Control
Conti Temic is present at IAA for the first time, along with Continental ISAD, ADC, ContiTeves and Continental Passenger Car Tyres. In addition to the latest in technology, the company is introducing several projects on the way to the intelligent chassis, for example, the much acclaimed 30-Metre Car. Synergies between tyres and brakes are not the only aspect of Continentals vision of the future. The steering, axle modules and air suspension systems will all be integrated into the system.
Continue ReadingQuality Standard Re-Awarded To Kwik-Fit GB
Kwik-Fit GB has been re-awarded ISO 9002 quality accreditation, following an external audit of 26 of the companys centres, four divisional offices and the fleet office. The company gained its first quality certificate (which used to be called BS 5750) in 1992 and the latest re-certification is valid until the end of 2003.
Continue ReadingRecommendation For Goodyear Shares Also
Deutsche Bank analysts have upgraded Goodyear shares from Market Perform to Buy. They are of the opinion that Goodyear has made significant progress in reforming its cost structure and this, coupled with lower raw material prices, will mean much better-than-expected profits. The analysts also believe that Goodyear can capture many Firestone dealers in February next year, when their contracts with Firestone expire.
Continue ReadingNew Tyre From Debica: Passio
Their latest product, the summer tyre Passio with a T-speed rating was presented to the European press and public at the end of January. This tyre is intended to succeed the Debica Vivo. For Zdzislaw Chabowski there is no doubt that in future his factory in Debica will be very important within Goodyear’s integrated production system all over the world. This article presents the new product, the company and the management. The product is a summer tyre, a so called bread and butter tyre, with speed index T, being developed in Goodyear’s research and development centre (GTCL) in Luxemburg. Afterwards it will be comprehensively tested on gravel roads, motorways and also on the race track in Vallelunga, Italy. According to the manufacturer, comfort and driving conditions on both wet and dry roads have been improved. Noise levels have been reduced, and compared to its predecessor, Passio should be able to reduce the braking distance on both dry and wet surfaces. Passio is a tyre for both the original equipment and the replacement market which soon will be available in nearly every European country. Debica Tyres was founded in 1939 and transformed into a public limited company in 1991, whose shares have been traded at the Warsaw stock exchange. The Polish government found a strategic investor in Goodyear at the end of 1995, who, in two steps, has increased its financial interest in the company and has become the majority shareholder meanwhile.
Continue ReadingHeavy Truck Tyres Rolling Slowly In The USA
The prospects for manufacturers of heavy trucks in the USA are rather gloomy for this year, as experts are expecting a decline of up to 30 per cent. Despite this, analysts are not pessimistic about the prospects for Michelin, as the turnover from OE sales of truck tyres is only about 3 per cent of total group turnover. Better results than for 1999 are expected too for Goodyear, due to the downward trend in raw material prices and, last but not least, the recently-announced tyre price increases look like they will stick.
Continue ReadingTeaming Up: Ford And BFGoodrich
The erstwhile Tyre manufacturer, now aerospace supplier, BF Goodrich has teamed up with Ford to develop a SmartBelt seatbelt. This is a combination of the traditional seatbelt and the airbag, which inflates to protect vehicle occupants in the event of a collision. BF Goodrich sold its tyre operations to Michelin in 1990 and the brand is still manufactured and marketed as BF Goodrich by Michelin.
Continue ReadingExpress Van Tyres From Cooper-Avon
Cooper-Avon has introduced the Avanza AV9 range of tyres, designed for transit and express vans. The tyre is available in 15 sizes, R and T speed ratings and aspect ratios of 65, 70, 75 and 82.
Continue ReadingWheel Market UK
The alloy wheel market in the UK is nothing like the size of , say, that in Germany, and reliable estimates of its size are hard to come by, although one educated guess is £500 m at wholesale prices. Reasons for the comparatively small market are manifold, varying from the way cars are sold in the UK to the effect of the large company car/fleet sector, which accounts for over half of new car sales. Fleet buyers do not welcome anything which increases costs, and alloy wheels fall into this category. Despite this drawback, the UK alloy wheel market is growing, due largely to increasing fitment in the OE sector. In the aftermarket, it is those who have disposable income to spend and who are fashion conscious that buy alloys and, as with most other fashion accessories, this means the young. As with other fashions, there are labels which are in and others which lack street cred and, again as with other fashions, the successful designs spawn many imitations. So, in order to stay ahead of the pack, the leading design labels have to introduce new designs – to reinvent the wheel.
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