More Difficulties For Ford In The US
First came the second tyre recall with costs up to 3 bn $-US, secondly the extended guarantee due to problems with ignition systems, and thirdly many quality-related recalls of new car models, all of which have cost Ford a lot of its expected profit. Therefore the management has announced early retirement for up to 5000 white collar workers in the US. This is seen as the first step in a major restructuring in North America, where Ford has announced about 13 p.c. fewer new registrations compared with the same time last year, whereas the market in general shows only about 5p.c. fewer registrations of new cars. Analysts from Wall Street have already greeted Fords latest decision positively.
Continue ReadingBig Orders For TRW
Automotive supplier TRW has received orders worth 900 million US-Dollars from Renault (for the Megane) and Fiat (for the Stilo), concerning the production of Electrically Assisted Steering systems (EAS) for this year and beyond. These new contracts bring TRWs volume for EAS-systems in 2001 up to 500 million US-Dollars. The steering-systems for Fiat will be developed in Birmingham and produced in Livorno (Italy). The steering system for Renault will be developed and manufactured in Pamplona (Spain).
Continue ReadingContinental’s Results Have Slowed Down And Redundancies Are Possible
Compared to last year, Continental Group’s turnover for the first nine months of 2001 has increased from 7,438 billion Euro to 8,240 billion Euro (a rise of about 10.8%). The Group’s operational result (EBIT) of 238 million Euro (385 million Euro in 2000) has especially been affected by the North American tyre business and a non-recurrent expenditure of 58 million Euro due to the reconstruction process, begun in the second quarter and which has resulted in the closure of the truck tyre production site in Herstal (Belgium) and the remoulding site in Bad Nauheim. The Group’s result before tax has fallen by 160 million Euro down to 96 million Euro. After tax of 44 million Euro, the result is 104 million Euro more than last year’s amount, and the earnings per share are 0.35 Euro (1.16 Euro in 2000). Presenting the quarterly results at a press conference, Manfred Wennemer, who was appointed Managing Director on 11th September 2001, explained the Group’s directional change, concentrating on profits, results and cash flow and on cutting down financial debts, which also involves focusing on profitable transactions and devolving profit-and-loss responsibility on to the Business Units. Additionally, Wennemer announced some bigger restructuring measures: All parts of the company are under scrutiny, and there are no holy cows, he emphasised, adding the comment that factory closures and redundancies could be a possibility.
Continue ReadingThird Quarter Results For Cooper
Cooper Tire & Rubber has reported financial figures for the third quarter. Turnover was down 6 per cent compared with 3Q last year ($791 million against $844 million). Operating profit was $46 million (3Q 2000 – $60 m) and net income $14.4 m ($23.4 m). For the first nine months of this year, Coopers sales totalled $2.4 billion and net income was $36 million. These figures were down 7 per cent and 62 per cent respectively on figures for the same period last year. Cooper has embarked on a restructuring programme designed to save up to $30 million annually and $4 million was saved during the third quarter.
Continue ReadingInsolvency Of ASS Reifen- und Autoservice
ASS Reifen- und Autoservice, which has depots in Hamburg, Hanover and Berlin, has been declared insolvent. It is said that the Dunlop group (Dunlop, Pneumant and the equity Holert Konz) is the biggest creditor.
Continue ReadingNew High-Performance Tyre From Continental
Recently in Barcelona the tyre manufacturer Continental introduced its new ultra high performance tyre ContiSportContact 2 to the press. And just like its predecessor, ContiSportContact 1, of the ContiPremiumContact important aspects of the new tyre have been created according to nature, as both the new, highly efficient tyre tread mixture and the bionic shape have been modelled on nature. Geert Roik, leader of the passenger car tyre development, explains, that it was the first time that a tyre has been prepared following the design of a spiders web, which is both elastic yet firm. The shape has been modelled on a cat’s paw. However, it has always to be remembered that however high the engine performance, its output will be transmitted to the ground over a contact area of a size of four-postcards. The constant improvement of the power transmission over these four small areas in order to adjust it to existing or intended vehicles, develops the tyre engineer’s skills. According to the manufacturer, the ContiSportContact 2 will be a sport tyre, developed on the latest state-of-the-art basis and designed for existing and future high-performance vehicles. According to Dirk Gentgen, Continental’s marketing director for passenger car tyres in Europe, a durable and increasing market is developing because increasingly, tuning and fashion will not stop at tyre selection. Many car drivers think that wide and fashionable tyres as well as fashionable rims are necessary for a sports car to be beautiful. Gentgen is stating the target: In this segment we want to decisively increase our market share in the coming years.
Continue ReadingUniversal Tyre Pressure Monitoring
Siemens Automotive has developed a universal tyre pressure monitoring system suitable for use with all OEM tyre makes and models. The system tracks pressure, temperature and acceleration and can identify tyre location on the vehicle on a near real time basis.
Continue ReadingNorth American Debut For Michelin Bibendum Challenge
This third Michelin Bibendum Challenge,a world demonstration of new automotive technologies and OE will take place between 26 - 29th October, starting in Los Angeles and finishing in Las Vegas at the SEMA/ITE show. The tyre testing programme will include noise level testing, acceleration, handling, and economy to take place at the California Speedway at Fontana.
Continue ReadingOE Success For Bridgestone At DAF
DAF models 45 and 55 and also the successor series LF will be fitted with Bridgestone R 227 tyres on the steer axle and M 729 on the drive axle. It is the first time that Bridgestone has been chosen on an exclusive basis in this middle class truck segment. The choice is part of a long term contract with Paccar, the American parent company of DAF. The trucks will be produced in the UK at the former Leyland plant.
Continue ReadingSynthesis between Tradition and Modernity – Pirelli’s P6 and P7
Pirelli launches with the P6 and P7 world wide two new tyres in the high performance segment, utilising the most advanced materials and technology. Designed to equip a wide range of cars, from high class saloons to the latest generation sports cars as well as MPVs, Pirelli P6 and P7 are available in a total of 40 sizes from 185/65 R 14 to 225/45 R 17 covering 70 percent of the European car market. Produced in Pirelli’s factories in Italy, Spain, UK and Germany, using the most sophisticated process and control technology currently available to the tyre industry, P6 and P7 are to be widely distributed an will go on sale immediately in southern European markets. They will be sold throughout Europe and in Japan by the end of may. Sales are expected to reach 1.5 million units by the end of 2001 and stabilise at a regular of 10 million tyres a year. P6 and P7 will be sold five percents more expensive than their predecessor, the P6000 family. A large proportion of P6/P7 will be assigned to Original Equipment sales, underlining how closely the tyres’ development has been integrated with that of the car manufacturers. The new products have already been approved or are in the process of approval for key models of Audi, BMW, Mercedes-Benz, Volvo, Fiat, Jaguar, Peugeot and Ford. The internet addresses, www.pirellip6.com and www.pirellip7.com, are for the first time part of the respective sidewall inscriptions. The web sites provide on-line information about the new tyres as well as a dealer locator.
Continue ReadingCorporate Sales of Continental Grow to Over 10 Billion Euro
The Continental Corporation boosted its sales in 2000 by 10.8 per cent to 10.1 billion Euro (prior year: 9,1 billion Euro). All corporate Groups contributed to this result. Because of nonrecurring effects totalling 60 million Euro, the operating result (EBIT) was reduced to 432 million Euro (prior year: 511 million Euro). The result after tax amounts to 205 million Euro (prior year: 235 million Euro).
Continue ReadingNew Tyre Introduced by Cooper
Cooper Tire & Rubber Company introduces its newest addition to its line of tyres – the Lifeliner Touring SLE (Sport Luxury Edition). The product offers optimized tread compound to balance wear and wet/winter traction. It is equipped with optimized bead contour, as well, for a more uniform fit to the rim and an improved ride quality. Offset shoulder slots bvreak up tire pitch harmonics, allowing for a more quiet ride. The Touring SLE is offered in three separate speed ratings: T, H and V.
Continue ReadingCo-operation Between Bandag and Continental
European Bandag licensees will retread Continental truck tyres using the latters tread patterns, using Bandags Cold Retreading Process. The tyres will be distributed through the Continental dealer network as well as by Bandag licensees. The initial volume will be around 60,000, rising to 180,000 pieces per year. The agreement does not include any financial links, nor does it include the hot retreading process which Continental operates with other producers in Europe under the Contire brand.
Continue ReadingKorean Joint Venture For Mannesmann Sachs
The Sachs Korea Suspension Company Ltd. joint venture with Kasco will take over the shock absorber and pneumatic spring activities from the leading manufacturer of automotive components with headquarters in the Pusan area and supply the Korean car manufacturers.
Continue ReadingOfficial UK Launch Of Goodyear’s Greenest Ever Tyre
In London, Goodyear officially launched its GT3 passenger car tyre – the first tyre to incorporate new BioTred technology, in which carbon black and silica fillers are replaced by starch obtained from maize plants. Not only is the T-rated tyre more fuel efficient, says Goodyear, but because maize is a renewable resource and converts carbon dioxide to oxygen while it grows, the GT3 is claimed to be the most environmentally-friendly tyre ever. Goodyear released news of the new technology earlier this year, but this was the first time that the tyre had been shown to the UK press.
Continue Reading