Profits Up For Beru
Beru AG has published results for the financial year ending 31st March. Sales topped 300 million Euro for the first time (303.1 m Euro, compared to 276.5 m the previous year). After-tax earnings were up 27.7 per cent at 42.4 million Euro (33.2 m last year). The increase was due mainly to growth in diesel cold-start technology and tyre pressure monitoring systems. This latter product group saw sales rise by nearly 60 per cent to 10.7 million Euro.
Continue ReadingMay European Car Sales Fall
Sales of new cars in Europe during May fell by 8 per cent to 1.29 million vehicles; the largest drop for fifteen months. Of the five biggest markets, only the UK showed growth, while sales in Germany declined 14 per cent, Italy down 11 per cent and France down 8.6 per cent. The German figure was influenced by strikes at a number of car plants during May. Industry experts describe the west European car market as being in the doldrums and some predict that it will continue to fall until next year.
Continue ReadingJoined Up Government?
UK papers have carried news that the government has decided that the last owner of a vehicle will be liable for the disposal costs at the end of vehicle life, at least until 2007. This counters the concept in the Producer Responsibility document on waste tyres that the cost of disposal should lie with the source of the tyre - the manufacturer or the distributor - this to minimise the point of contact for accountability, and ensure that the correct route to disposal is accounted for. There are fears that placing the burden of disposal directly on the end user will lead to an increase in the number of dumped cars. Alternative financing systems are being considered for post 2007. The ELV statement comes from the Dti, which is also the source of the Producer Responsibility document on waste tyres.
Continue ReadingPirelli looks toward Brazil
The European Investment Bank is evaluating a proposal to fund up to $39 million USD toward the modernisation of a Pirelli tyre plant in Brazil - Pirelli Pneus S.A. The Brazilian subsidiary has drafted a $136.6 million USD plan to add radial production capacity to its 25 year old plant in Feira de Santana plant.
Continue ReadingPirelli Assists Expansion In Russia
Pirelli SpA has announced that it is providing technical support for a $60 million USD expansion project by JSG Nizhnekamskshina, Russias biggest tyre manufacturer. Pirelli are also planning to open a commercial company in Moscow.
Continue ReadingAutotreads & Accessories – A Sad Way To Go
The sale of all retreading machinery and equipment has been ordered by the Liquidator for Autotreads & Accessories. The company was one of the elder statesmen of the retreading industry in the U.K. and its demise, at the end of last year, is perhaps symptomatic of the current depression effecting this sector of the tyre business. The sale will take place by public auction, on the Burnopfield site, in Newcastle Upon Tyne, on the 26th June.
Continue ReadingCar Sales In May Set New Record – In The UK
British motorists continued to flock to the car showrooms in May, when 208,669 new cars were registered. This marked the 20th consecutive month of growth in the car market and easily beat the previous record of 199,258 new registrations set in 1989.
Continue ReadingFiat Chief Departs
Fiats chief executive, Paolo Cantarella, has quit, saying - in these difficult times for the Fiat Group it was necessary to give a strong signal for change. Credit bankers and investors had been calling for a shake-up at Fiat for many weeks. Chairman, Paulo Fresco will stand in until a new chief executive is found.
Continue ReadingBoard Changes At Yokohama
Japanese tyre manufacturer has promoted six people within its Board of Directors and promoted five others as new Director candidates, subject to shareholder approval at the end of June. The six promoted Directors are Keimei Kiyoura, Kazuo Okamoto, Takashi Yamashita, Tadanobu Nagumo, Keigo Ueda and Takashi Sugimoto.
Continue Reading“Spirit Of America” Blimp From Goodyear
Goodyear is to build a new airship to replace its Los Angeles-based blimp, Eagle. The new ship will be called Spirit of America to reflect the countrys patriotic spirit. The Eagle has a proud history, ferrying astronauts, film stars and ex-President Ronald Reagan as well as appearing on numerous TV shows.
Continue ReadingUS Tyre Tests Condemned As “Extreme”
Following the Firestone recall, the US Government ordered a thorough overhaul of tyre safety standards. One of these is a new drum-test, which requires tyres to be tested for longer periods and at higher speeds. The Rubber Manufacturers Association has described the new tests as extreme and estimated that almost half of todays car and light truck tyres would not pass the new test.
Continue ReadingMichelin Aims At Improving Market Share
Michelin recently held an analyst conference to discuss its commercial vehicle tyre performance and strategy. This sector is worth 3.9 billion Euro a year in sales to Michelin, with an operating margin of almost 9 per cent, despite the dramatic downturn in the US and European markets. Looking ahead, the companys strategy lies in the provision of total tyre management and problem solutions for fleets, with Michelin often taking over a customers total tyre requirements, from new tyres to scrap disposal. Typically, Michelin tyres command a price premium (of up to 20 per cent in Europe) over competitors tyres and the company intends to maintain this pricing level. Despite the higher prices, Michelin has an estimated OE market share of 70 per cent, and a replacement market share of over 30 per cent, and the company is aiming to improve on these figures. There has been a boost in the first four months of this year, with raw material prices lower than expected and sales volumes of tyres greater than anticipated.
Continue ReadingChassis System From Continental
Continental Automotive Systems and Volkswagen have developed the Phaeton – with a chassis system with all-round semi-active variable control pneumatic suspension. The Electronic Air Suspension (EAS) resolves the differences between optimal handling and comfort by calculating and establishing the correct suspension force required every 10 – 15 milliseconds. The system is an integral element of a chassis solution incorporating engine management, brake control and stability control.
Continue ReadingUniroyal Wins Accolade
The Uniroyal Rallye 540 has been judged best tyre in the Auto Express product honours list. The tyre came top against ten other brands of 185/60x14 H-rated tyres. Experts primarily looked at all aspects of wet and dry performance as well as economy. The product honours are designed to highlight to the U.K. public the best car accessories on the market.
Continue ReadingBan on Lead Wheel Weights
The European Parliament proposes to ban the use of lead weights in all member countries. The Commission directive states that all new cars coming onto the market from 1st July 2003 must have lead-free weights fitted, with a temporary exemption for certain vehicle types manufactured before this date. The exemption will also apply to the replacement market. This concession will cease from 1st July 2005.
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