New High Performance Winter Tyre From Marangoni
Marangoni Tyre has extended its Meteo ESC Winter tyre range with the introduction of four new sizes. These are a 14-inch, T-rated size, two 16-inch, H-rated tyres and a high performance tyre, size 225/45 R17 V, aimed at high-level saloon cars. This is the first V-rated Winter tyre in the Meteo ESC range, which now consists of 24 sizes.
Continue ReadingOngoing Pressure On Goodyear
According to the monthly investors update, the group is still under pressure. In the US the replacement business was quite good, not so in the OE business. In Europe, the group is suffering because of the warm weather, which is having a negative effect on sales of winter tyres, and in Asia, the company has been forced to lower prices due to the fact that cheap imports from China are putting pressure on prices. In a cost cutting move, Goodyear is offering an early retirement package for around 700 white collar workers, half of them working in the Akron HQ.
Continue ReadingFast-Fit Operation For Asda Supermarkets?
In the UK, the Asda supermarket chain is said to be looking at the possibility of opening car fast-fit businesses. Asda is owned by Wal-Mart, which operates tyre and lube centres at its stores in the USA. An Asda spokesperson said that the company had no plans to launch tyre and lube in the UK at present, although the possibility is being evaluated.
Continue ReadingKerkorian Sells 16 Million DaimlerChrysler Shares
Kirk Kerkorian, the third-biggest shareholder in DaimlerChrysler, has reportedly halved his stake in the company by selling 16 million shares recently. It is said that he will continue with the $8 bn lawsuit he brought against the company, alleging that it misled shareholders when Daimler and Chrysler merged.
Continue ReadingRacing fever in Germany now – Michelin Goes Formula One
Members of the German buying association of free tyre dealers EFR met for their annual meeting at the former Expo exhibition centre. Doors were closed when they reviewed the past year and analysed the weak points, as well as when they tried to set the agenda for the year 2001. No doubt EFR is known on the market as a Michelin buying association, which, regarded from the opposite side, is as wrong as if FRI were to be called a Goodyear buying association. But this is the wrong place to discuss both sides differences. In fact, EFR is representing a group with a very friendly relationship towards Michelin and therefore selling their products as a priority. And of course Michelin itself is doing everything to satisfy the EFR dealers demands, as with more than 300 specialised tyre dealers they form a solid distribution basis for their products. After being in low gear for several years, Michelin has had a brilliant start to the new millennium, while profiting from the seeds they have been sowing for the past two or three years. However, until recently, with their first brand the French have steadily been losing market shares all over Europe and most of all in Germany – although no loss of quantity and admittedly from a high ranking – now they are ready for the battle with the competition in their home market Europe, more than ever. As Michelin wants to win the race, Patrice Kéfalas could not miss a favourable opportunity: Michelin goes Formula One was the message that he announced in front of the EFR tyre dealers. Hence, the race is on at all levels. With Michelin tyres Patrice Kéfalas does not only want to win for merely for the sake of being the winner, he also wants to realise an image profit, which should end up in either greater quantities or better selling prices too between industry and trade or trade and consumer, or even both.
Continue ReadingRestructuring For Pacific Dunlop
Australian company Pacific Dunlop has revealed restructuring plans, which involve splitting the group in two. The Ansell health care business (turnover $Aus 1.3 bn) will be floated as a separate company. The second company will include the distribution of consumer products (Pacific Brands) and automotive products (Pacific Automotive and South Pacific Tyres). Turnover of these units totalled $Aus 2.7 bn.
Continue ReadingNew UK Truck Servicing Network For Continental
Continental Tyre Group is to set up a new UK truck network, comprising independent businesses with exclusive territories, managed by Continental. This will obviously affect the commercial division of Contis subsidiary National Tyre Services. Some will be sold, while some will be taken over by existing staff – a number of these are expected to join the new truck network, which will be called ContiNetwork.
Continue ReadingFirst Quarter Outlook Announced By Hayes Lemmerz Hayes
Lemmerz International, Inc. – the worlds leading global supplier of automotive and commercial highway wheels – announced that first quarter 2001 diluted earnings per share is projected to be a loss of $(.27) compared to earnings per share of $.51 in first quarter 2000, and compared to a loss of $(.58) per share in fourth quarter 2000. Sales are lower than the record levels experienced in first quarter 2000, but have rebounded significantly from the levels experienced in the fourth quarter of 2000, when North American car producers reduced volumes to adjust light vehicle inventories. Ron Cucuz, Chairman and CEO: Light vehicle production in North America has stabilised compared to the fourth quarter and volumes have strengthened slowly through the first three months of our current fiscal year. Europe and other operations outside of North America continue to perform very well.
Continue ReadingConflict May Damage Stomil-Olsztyn
Ongoing rows between minority shareholders and main shareholder Michelin may have an adverse effect on company results for 2001. The company is already suffering from decreased demand, a weak Euro and rising raw materials costs. Benoit de la Breteche, president of Stomils board said This year is going to be a difficult one and we should focus on business.
Continue ReadingCommercial Truck Steel Wheels From ArvinMeritor
ArvinMeritors expansion at its San Luis Potosi (Mexico) manufacturing facility includes the production facility and machinery to produce steel wheels up to 22.5 inches in diameter. The addition of steel truck wheels augments its wide range of steel wheels currently produced for passenger and light truck OEMs.
Continue ReadingKumho UK: The Need To Raise Awareness And Prices
J. M. Kim is the new managing director of Kumho UK and he comes to the new post with his own ideas and plans. He talks to TYRES & ACCESSORIES about the difference between the UK and markets elsewhere in Europe, especially the emphasis on price. He wants to raise the brand image – and selling price – of group products and he believes that this can be achieved by linking the Kumho brand to motorsports performance. Mr. Kim also talks about forthcoming changes and his ideas of working with importers to get a better price for the groups tyres; something which he admits will not be easy to achieve.
Continue ReadingQuestions Raised Over Explorer Ad Campaign
Under pressure in Venezuela, Ford has produced an advertisement listing statistics that show that the Explorer compares favourably in safety terms with other SUVs. Although no competitive vehicles are mentioned by name in the advert, both Daimler/Chrysler and GM (Venezuela) have objected to it and are casting doubts on the accuracy of the figures.
Continue ReadingDeutsche Bank Recommends Michelin Shares As A “Buy”
Despite the difficult environment which is not likely to lead to improvements in the coming half year Deutsche Bank is recommending Michelin shares as a Buy. The analysts believe that the focus on high performance tyres will pay off and they believe also that, due to the anticipated sale of the Pirelli truck division, competition will be lower in the future for Michelin, which is very strong in that market.
Continue ReadingLegal Threat From Bridgestone
Bridgestone President Shigeo Watanabe has said that the company is prepared to sue US regulator National Highway Traffic Safety Administration if that organisation were to order another recall of Firestone tyres. Last week the NHTSA asked Bridgestone/Firestone to recall more tyres, but the company refused, threatening court action if the NHTSA declared the tyres defective. At a news conference in Tokyo, Shigeo Watanabe again said that the investigation should focus on both tyres and vehicles. Fears over the possibility of protracted legal action were reflected in a fall of over 15 per cent in Bridgestones share price.
Continue ReadingGerman Tyre Components Factory To Close
It has been announced that the former Kleber tyre factory at St. Ingbert in Germany will close at the end of June next year. The factory began making tyres in 1970 and ceased tyre production in 1994. Since then it has manufactured tyre components such as textile fabrics and rubber mixings. 200 jobs will be lost and the closure is part of the Michelin Groups on-going restructuring programme to improve competitiveness.
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