Continental “Expects To Sell National Tyre Service This Year”
Manfred Wennemer, management board chairman of Continental AG, is reported to have said that the company expects to sell its UK equity chain National Tyre Service by the end of this year. Earlier this year, Continental UK closed Nationals truck tyre operations when it formed ContiNetwork; a partnership with independent truck tyre service providers. This left 210 retail outlets in the National chain. A spokesman in Hanover confirmed Mr. Wennemers comment, but would not reveal any further details. The news was only revealed because Continental had to enter a figure into the fourth quarter accounts which was picked up by analysts.
Continue ReadingSharp Decline In Continental’s North American Business
Continental Tire and Continental Teves North America are expecting a massive decline in original equipment business in the fourth quarter. The shortfall will probably be as much as 500,000 car and light truck tyres, or 15 percent of Continentals oe volume. In November it is planned to cut production. The oe business of Continental Teves will be reduced by 20 percent.
Continue ReadingIntelligent Tyre From Siemens And Conti
It is reported that the German company Siemens has developed an intelligent tyre in collaboration with Continental. The tyre incorporates small sensors that can give advance warning of wear, low pressure or imminent sudden deflation. They can also detect on-road hazards such as black ice and can help to keep the car under safe control in these conditions. In addition to the sensor technology, the tyres will be more fuel efficient and last longer. Testing in extreme conditions is currently being carried out and Siemens says that the tyres should be on the market in 2001. Not so, is the reaction of those close to the market, saying that there is no way that the tyre could be produced as a range this year. Nobody from Continental was available to comment.
Continue ReadingCut In Earnings Forecast By Bridgestone
In Tokyo, the Bridgestone Corporation has slashed its earnings forecast for the year by 81%. The revised forecast is US$ 116 million, down from the August estimate of US$ 596.6 million. Bridgestone also said that it would take a US$ 750 million charge to cover the costs of the recall and possible lawsuits; more than double the original charge estimate of US$ 350 million.
Continue ReadingInternet Motorcycle Tyre Guide Launched By Dunlop
Dunlop Online has launched what it says is the most sophisticated guide to motorcycle tyres on the net. It gives surfers tyre fitment and pressure data for their motorcycles, along with the recommended Dunlop tyre for their machine. Details are on ww.dunloptyres.co.uk/motorcycle
Continue ReadingReshuffle At Cooper-Avon
Cooper-Avon Tyres has reshuffled many of its management team. André Korynevsky – responsible until now for retreading materials – has been appointed European Sales Director, liaising with the companys offices in Germany, France and Switzerland. He will continue to manage the retread materials business. Phil Caris is the new European Sales & Marketing Director with responsibility for multi-brand strategies, coordinating global product management. As European Major Accounts Director, Steve Cundy will head a team of three, which will service the business with European retail chains, marketing Avon house and private brands, as well as developing fleet business.
Continue ReadingSubsidiary Company To Develop Nokian Intelligent Tyre Technology
Nokian has established a subsidiary company for commercialising and internationalising its recently-created intelligent tyre technology (ITT). The company is called RoadSnoop Ltd. and it will be responsible for the product development, production and marketing of ITT. Called the RoadSnoop Safety System, it consists of lightweight sensors installed in the tyres which monitor tyre pressures and temperatures. Should the pressure drop, the system sends an alert to the drivers mobile phone, in-car computer, or even to a separate display at a garage forecourt.
Continue Reading2000 Figures From Nokian
Nokian Tyres has released financial results for last year. Net sales were 398.5 m Euro, 23.5 per cent higher than 1999. Allowing for acquisitions made during the year, the figure was 359.8 m Euro, or 11.5 per cent higher. Operating profit was 39.4 m Euro (1999: 42.1 m), affected by a 1.7 m Euro loss incurred by the tyre retail chain. Net profit was 19.8 m Euro (1999: 25.7 m).
Continue Reading“Sam” Gibara Joins SRI Board
Samir G. Gibara (61), chairman and chief executive officer of The Goodyear Tire & Rubber Company, has been elected to the board of directors of Sumitomo Rubber Industries Ltd. in Kobe, Japan. Gibaras election is in conjunction with Goodyears 10 percent ownership of SRI, following the companies global alliance, completed in September 1999. This ownership makes Goodyear SRIs second-largest shareholder. SRI holds 1.4 percent of Goodyears common stock.
Continue Reading“Technical Manual” From Fulda
A new edition of Fuldas Technical Manual has been introduced. Experts and end users will find a lot of information about all different types of tyres, about tyre technology and, last but not least, about legislation. The completely revised manual is available in English and German versions.
Continue ReadingBank Analysts View C3M Factory Tyre Production
At its so-called annual strategy day, Michelin had only partly good news to tell. Following the disastrous Firestone tyre recall, the price increases in the US-replacement market appear to have stuck. However, recent price increases in the US truck tyre replacement market have not held and this is squeezing the EBIT margins. For the first time ever, analysts were allowed to see a tyre made by the C3M process. Michelin is convinced that it can increase market share significantly in the UHP market with the help of C3M, while analysts from Deutsche Bank see C3M as a key driver to achieve an EBIT margin of 10 per cent in 2005, compared to 7.6 per cent in 2000.
Continue ReadingBusiness As Usual In South Africa – Ford And Bridgestone
In South Africa, Ford and Bridgestone/Firestone have announced that the split between the two companies in the USA will not affect their 50-year relationship. Ford SAs director of corporate affairs Craig von Essen said that the recall problem was a matter for the US companies and that, as far as the South African company was concerned, it was business as usual. Bridgestone supplies South African companies with ATX and R45 Wilderness tyres, manufactured locally. As well as Ford SA, it supplies tyres to BMW SA, Toyota SA and Nissan SA.
Continue ReadingTurnover Up, Net Earnings Down For Marangoni
Italian tyre and retreading group Marangoni has revealed its financial results for last year. Turnover rose by almost 10 per cent to 264.5 million Euro, but net earnings plummeted by just over 76 per cent to 1.79 million Euro. There were mixed sales performances from the different divisions: new tyre sales were 70 m Euro (+18.3 per cent), retreading material sales 90.8 m Euro (+7 per cent) and retreaded tyre sales were 63.1 m Euro (+12.8 per cent). It is indicative of the state of the retreading industry that sales of equipment used for retreading and recycling were 6 m Euro; down by over 14 per cent. Marangoni cited increased raw material costs as the main reason for the fall in profits.
Continue ReadingThreefold Increase In Goodyear Aircraft Tyre Production
On the eve of the Paris Air Show, Goodyear announced that it was to triple production of radial aircraft tyres at its plant in Danville, USA, where the company has recently invested $10 million. The production increase is in response to growing demand due to increasing radialisation in the aircraft tyre sector, although bias-ply tyres still make up the majority of this market. The radials will fit military and private planes, as well as commercial aircraft such as the Boeing 737 and Airbus A320.
Continue ReadingQuestions Over Tyre Pressure Monitoring
The agency charged with developing the proposals for mandatory fitting of tyre pressure monitoring has admitted it has insufficient scientific evidence to support its task. The National Highway Traffic Safety Administration have no files which point directly to flat tyres as a cause for crashes, nor does it have information on how often under-inflated tyres contribute to crashes. It is estimated that flat tyres cause less than half of a percent of all crashes. There is a danger that the feeling that there is a need to do something, may result in expensive regulations which mask real safety threats.
Continue Reading