Continental Shares Like Lead
Despite excellent results and an on-going buy recommendation from Deutsche Bank, Continental shares are not rising. The management has announced that the intelligent tyre is to be fitted as OE from 2003 but refuses to name the car manufacturer. The management also feeds speculation regarding a joint venture partner for brakes in Asia. Will this help the share price to rise?
Continue ReadingMore Tyres Sold In Germany In 1999
The German rubber industry recorded sales of 18.9 bn Marks (+3.9%) in 1999, of which 11 bn Marks (+5.6%) were tyres. German tyre sales (+6.3%) grew stronger than exports (+4.0%). The dramatic increases in prices of raw-materials is a source of worry for the rubber industry, announced the rubber association W.d.K. (Wirtschaftsverband der deutschen Kautschukindustrie).
Continue ReadingHans-Joachim Brand Leaves Continental
Hans-Joachim Brand (53), who, until the end of 1999, was responsible for the British tyre retail chain NTS, left Continental last month.
Continue ReadingAWI Plant Closes
Alloy Wheels International (AWI), a subsidiary of South African company Murray & Roberts, has closed its Cardiff plant because of an expected fall in demand from oe customers Rover Cars and Land-Rover and reduced competitiveness because of currency problems. 250 jobs are lost.
Continue ReadingISO 14001 Accreditation For Hayes Lemmerz
The worlds leading wheel producer Hayes Lemmerz has been awarded environmental certification ISO 14001 for its Czech facility Autokola (Ostrava).
Continue ReadingNorth American Wheels Team By Hayes Lemmerz
Hayes Lemmerz has combined its sales and marketing forces of fabricated and cast wheels in North America. President of the new unit is Ronald Kolakowski, Richard Miller has been appointed vice president and four sales directors are responsible for NA oe customers.
Continue ReadingTronchetti Provera Considers Positively The Goodyear/Michelin JV
The Chief Executive Officer of Pirelli, Mario Tronchetti Provera, considers the PAX-agreement between the two tire giants positively. Pirelli is already a developing partner, together with Michelin, regarding PAX and Run Flat Technologies in general. Tronchetti said that Goodyears involvement will further accelerate the development and the promotion of PAX.
Continue ReadingFirst Quarter At Hayes Lemmerz
Hayes Lemmerz sales and earnings in the first quarter 2000 were at the same level as last year. A significant drop in orders for heavy truck wheels and brake components was compensated by a successful expansion of aluminium wheel capacity worldwide.
Continue ReadingWeather Master SiO2 By Cooper
The first Cooper winter tyre designed specifically for the Alpine market is to be manufactured at Cooper-Avon Tyres Melksham (United Kingdom) plant. The Weather-Master SiO2 will be available in 15 T-rated and 11 H-rated sizes this autumn.
Continue ReadingHigh Targets: Continental Group To Doube Its Sales Within 5 Years
The German group remains on expansion track and sees itself not as a tyre manufacturer, but as a system integrator for the automobile industry. The management will double the group turnover of 10 bn Euro within the next five years, said CEO Kessel these days in Detroit.
Continue ReadingCAS Sues Ford And Bridgestone
In the USA, the Center for Auto Safety (CAS), the consumer group founded by Ralph Nader, has filed a lawsuit against Ford and Bridgestone/Firestone to try to force the companies to replace all Firestone ATX, ATX II and Wilderness tyres, irrespective of tyre size or place of manufacture. CAS says that the numbers involved would be at least double the current recall figure of 6.5 million tyres.
Continue ReadingAdministrative Receivers Appointed For Finelist PLC
Administrative Receivers have been appointed to Finelist plc and its trading subsidiaries, which includes Motorworld. Finelist produces motor components and has a turnover of 500 million Pounds. The company employs almost 5,500 people in 600 UK locations. The receivers hope to sell the business as a going concern.
Continue ReadingNew Radial Motorcycle Tyre From Continental
Continental has launched a new radial tyre for motorcycles, targeting the sport touring segment. The ContiForce is available in three sizes for the front and in eight sizes for the rear.
Continue ReadingNew Pressure Monitoring Agreement for Goodyear
Goodyear has developed an agreement with Phase IV Engineering of Boulder, Colorado aimed at fully developing a tyre pressure monitoring system. After the recent agreements with Michelin and Cycloid Systems this is the third such agreement Goodyear has completed. The long term aim of this strategy is not only to develop a fully operational system, but to extend Goodyear beyond the automotive tyre field.
Continue ReadingReorganisation For Cooper Tire
The Cooper Tire & Rubber Co. has reorganised its Tire Group, naming three divisional presidents. Mark Armstrong is president of the North American Tire Division. D. Richard Stephens is president of the International Tire Division and Larry Enders is president, Commercial Products Division.
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