Acceleration For The Firestone Tyre Recall
In an attempt to quicken the recall of tyres, Bridgestone/Firestone is to airlift tyres from its Japanese plants to the USA. At least one flight a day is anticipated. Ford has announced that it is to stop production of the Ford Explorer at its St. Louis factory and of the Ford Ranger at two New Jersey plants for two weeks. The Ranger is fitted with the same size tyres as those fitted on the Explorer and being recalled by Bridgestone/Firestone. The move will free up 70,000 tyres for replacement and it is estimated that the cost to Ford in lost production will be over $100 m in after-tax profits. Ford is also understood to have increased orders of tyres other than Firestone to speed up replacement of tyres for the Explorer. Goodyear says it has increased production fivefold and production at Michelins US factories has tripled.
Continue ReadingGerman Retreader Invests in Berliner Reifenwerk
The medium-sized German retreader RuLa (Schraden) is to invest in Berliner Reifenwerk (BRW) and resume the retreading of truck tyres. BRW is under public administration after becoming insolvent. Car tyre retreading will not be resumed and negotiations with investors regarding the recycling facilities are under way. Because there are still uncertainties about who is the owner of the land on which BRW stands, negotiations are complicated.
Continue ReadingNew President And COO For Goodyear
Goodyear Tire & Rubber has appointed Robert J. Keegan (53) as president, chief operating officer and director of the company, effective Oct 1st. Currently president, consumer imaging of Eastman Kodak, Keegans appointment reinforces Goodyears intention to focus more on the consumer, says the company.
Continue ReadingSignificant Changes In The European Tyre Markets?
During a press conference in Romania, Continentals CEO Dr. Kessel predicted very significant changes in the European original equipment markets. He pointed out that the consequences regarding the Firestone tyre recall will also have a great impact in Europe. Kessel believes that Firestone will lose many contracts and, among others, the Continental group would benefit and he added that there were already clear signals. But, signals yes or no, the Continental share price has fallen and it will be interesting to see whether news like this will stimulate the shares.
Continue Reading33rd Essen-Motor-Show International
From the 1st till the 10th of December the 33rd Essen-Motor-Show-International opened its gates. For ten days, more than 550 exhibitors in 18 exhibition halls were showing the whole range of individual vehicle models for the world market and the broad palette of vehicle accessories. The Essen-Motor-Show enjoys the international reputation of being the biggest and most comprehensive show for automobile tuners. The tuning business is booming in Europe. Whereas the German passenger car market has decline by more than ten per cent this year, the tuning companies are reporting increasing turnovers. After 7.8 billion DM in the previous year it is expected that the eight billion DM benchmark is going to to be reached this year. But the tuning business guarantees not only high net earnings, it guarantees jobs as well. In 1999 the sector employed 18.000 people. For the car tuners the Essen-Motor-Show is traditionally the most important platform for presenting their products. The exhibitors have shown numerous world premieres in Essen. A review on this event is features in the December edition of NEUE REIFENZEITUNG.
Continue ReadingProfit Warning Announced By Vredestein
In a reversal of a previous prognosis, Vredestein NV this year will be facing substantially lower profits and a weaker cash flow situation than in 1999. However, the board declared that losses are not expected.
Continue ReadingShare Prices At A Low Point
With the exception of Peugeot, Porsche and Beru, other share prices from automobile and tyre companies have fallen to an all-year low. Companies in this category include DaimlerChrysler, Volkswagen, Kiekert, Delco Remy, Delphi, Phoenix and Johnson Controls, as well as Continental, Cooper, Yokohama, Toyo and Goodyear.
Continue ReadingBridgestone Acquires Second Tyre Plant In China
Bridgestone Corporation has acquired control of a Chinese manufacturer who produces radial passenger and commercial tyres from the Republic of Korea’s Kumho Industrial Co. The company has a current production capacity of about 3.5 million tyres a year.
Continue ReadingPeter Faber Retires
Peter Faber, who, for the last decade has been President of Michelin Japan, and before that, Sales & Marketing Director of Michelin Germany, has recently retired.
Continue ReadingKeeping The Technic Name Alive
Last year the Technic Group – the world’s largest car tyre retreader – went into Receivership and it looked as if its assets would be sold off. However, the Technic name lives on, as the company has been purchased by Phil Blood and Lucia Farmer. Phil is one of the two original founders of Technic and Lucia is the widow of the other founder, the late Tony Farmer. Phil Blood could not say how many retreads would be made by the new company (called Technic Tyre plc) but he believes that there is a market for a quality retread. One thing is for certain; production will be a long way short of the 40,000-50,000 tyres a week which Technic was turning out at its peak. Phil’s comment on future production is it will find its own level. He admits that sentiment played a large part in rescuing the company with both he and Tony wanting the name of Technic to continue in the area. Tony and I put ten years’ hard work into Technic and neither of us wanted to see it wasted Phil commented. Some of the old Technic team are back working for the company, including Martin Gledhill and Ian Smith. Phil Blood emphasises that he is not employed by the company, he is part owner of Anguilla plc, the company which purchased Technic’s retreading assets. Bearing in mind Tony Farmer’s part in building up Technic, it was perhaps fitting that the first of the ‘new’ retreads were produced on March 1st – a day which would have been Tony Farmer’s 48th birthday. More about this in TYRES & ACCESSORIES’s March issue.
Continue ReadingTitan Sales Dropped
Sales of tyre and wheel manufacturer Titan (Quincy/Illinois, USA) have dropped last year to US$ 588 million (1998: US$ 660,8 million). Striking and a bad condition of the American agriculture are assumed to be responsible for the figures showing an EBIT of US$ -11.4 million compared to US$ 8.4 million in 1998.
Continue ReadingCooper Tires with changes in Top-Management
Pat Rooney, CEO and Chairman of Cooper Tires Ohio/USA, is to retire on June 3rd 2000. Tom Dattilo, currently President and COO, will succeed him.
Continue ReadingWFZ Becomes Europart
The German accessories wholesaler WFZ has changed its name to Europart. This is the result of the expansion from a specialised utility to a car part dealer. Europart has a foothold in 15 countries throughout Europe with its own outlets.
Continue ReadingConti Brings Updated COKIS To The Market
COKIS, the multimedia catalogue and information system introduced two years ago by Continental, has been released in an updated form. Further details are available from Continental.
Continue ReadingFast Fit At Peugeot
In 1997 Peugeot introduced a Fast Fit service (tyres, brakes, exhausts, batteries) at its car dealers in France. Now the concept, which is called Rapide, has been adopted in Germany.
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