EBIT Expectations Of Michelin Confirmed
In an interview with the French newspaper Le Figaro, the Michelin management has confirmed that it expects an EBIT of between 7.2 and 8.2 per cent for this year, which has to be regarded as a success under the present economic circumstances.
Continue ReadingGoodyear Top Management Under Pressure
The sharp drop in prices of Goodyear shares over the past three months has put extreme pressure on Goodyears top management. Possible reasons for the drop include increased raw material costs and apprehension among shareholders that the Dunlop acquisition could have a negative impact on results in the year 2000.
Continue ReadingStock Prices: Risers And Divers
In the fourth week of 2000 the share prices of the tyre manufacturers Bridgestone, Continental, Cooper and Goodyear have hit a 52 weeks low. In this week alone, Toyo Tyres fell 10%, Bridgestone 6% and Goodyear 5%. Just a week before Toyo had marked an increase of 12% while again Goodyear (-8%), Michelin (-8%) and Cooper (-8%) did not fare so well.
Continue ReadingSuppliers Put their Hopes in Nissan/Renault Joint Production
The Nissan factory in Barcelona is not working to capacity and is the obvious candidate for joint production work in similarly built Renault models, according to a statement at the Detroit Motor Show by Carlos Ghosn, ex-Michelin manager, now responsible for the integration of Nissan with Renault. Vehicle suppliers hope to profit from the new arrangements, as Ghosn announced a significant reduction in their numbers. For instance, Hayes Lemmerz supplies nearly all the aluminium wheels to Nissan Europe and is now making big strides with Renault as well.
Continue ReadingRally Triumph For Pirelli
With the teams Burns/Reid and Kankkunen/Repo on Subaru Impreza as well as Auriol/Giraudet on Seat Córdoba Pirelli supplied those with its PZero tyres who won the first three prizes of the Safari-Rallye.
Continue ReadingR.R.W. Reifenrecycling GmbH In Receivership
The tyre recycling company, R.R.W. Reifenrecycling, which is located in Wismar, the eastern part of Germany, is in receivers hands.
Continue ReadingMichelin Germany Increased Investments By 50 %
In 1999, Michelin increased its investments to 128 million DM (1998: 87 million DM). Sales grew to 3.215 bn DM (3.115 bn in 1998), and employment numbers (6,747) were stable. Earnings before income and taxes fell to 69 million DM (87 million DM).
Continue ReadingMichelin Introduces New Truck Tyre Brand
Michelin is introducing its Riken brand into the truck tyre market. The newly-developed tyres will be produced by subsidiary company Taurus in Hungary.
Continue ReadingAt the beginning of April the sixth
At the beginning of April the sixth round-table conference about tyres and tyre technology organised by the Tip Top Stahlgruber company took place in Munich. This year’s 85 participants came from many varied backgrounds: There were tyre dealers, retreaders, material suppliers, representatives of associations (ADAC, BRV, DEKRA, TÜV etc.), scientists and representatives of the vehicle and tyre manufacturing industries. Some of the highlights of the event included Hans-Jürgen Drechsler, deputy managing director of the BRV (Association of Tyre Traders and Non-Industrial Vulcanisers), speaking about development tendencies in the tyre trade with plenty of figures to back up the claim that the general tendency to concentration in the tyre trade is accelerating and manufacturer dependence or orientation also on the increase. Dieter Hatzfeld, formerly Michelin, now in a leading position with RuLa GmbH, the truck tyre cold cure retreader, spoke about the lop-sided pricing policy in the truck tyre field. The gist of his talk was: The price relation between new and retreaded tyres is no longer right. The subject of Mobile Fitting was also under discussion. Long-term participation in the truck tyre business means participation in the large fleet business and offering comprehensive service schemes, Drechsler said. Norbert Schygulla (Deutsche Goodyear), Michael Zoeppritz (Bridgestone/Firestone), Dr. Bernd Löwenhaupt (Dunlop), Ludwig Nelke (Michelin) and Hugo Verschoore (Butler Engineering) then introduced their own companies’ tyre run-flat systems (EMT, DSST, PAX) complete with practical fitting and maintenance suggestions. All in all, the range of subjects was far-reaching, offering something interesting for each of the guests present. Read more in NEUE REIFENZEITUNG 5/2000.
Continue ReadingTyrexpo Asia Set For September 2001
ECI International Ltd., the company which purchased the rights to the Tyrexpo Asia show, has announced that the exhibition will next be held at the newly-built Singapore Expo Centre from 11-13 September 2001. TYRES & ACCESSORIES will be a sponsor of the event.
Continue ReadingUK Commercial Vehicle Show A Success
This year’s Commercial Vehicle show at the NEC was a combination of three exhibitions – the SMMT’s CV show, the IRTE Show and Tipcon. No fewer than 579 exhibitors filled 42,500 square metres of floor space. Held over three days, the event attracted a remarkable 22,556 visitors and was generally held to be a great success. The tyre sector was well-represented, with manufacturers, retreaders and service providers, illustrating the importance of the commercial fleet market to tyre companies. Competition in this sector of the tyre business is fierce, with margins consequently depressed. TYRES & ACCESSORIES spoke to ten tyre manufacturers and retreaders at the show and the overwhelming message was that customers were demanding ever-increasing amounts of information and more sophisticated back-up services. The actual product of the tyre, given that it is of an acceptable level of quality in the first place, appears to be of less and less importance in today’s market. An increasing number of fleet customers are looking for a partner to handle every aspect of their tyre policy, from supplying product to carrying out maintenance and servicing breakdowns. How do the smaller companies, which lack the resources of large manufacturers, survive in such an environment? Read the views of the following ten companies in the May issue of TYRES & ACCESSORIES. Bandag, Bandvulc, Bridgestone/Firestone, Continental, Dunlop, Goodyear, Marangoni Tread, Michelin, Truck Tyre Specialists and Vacu-Lug.
Continue ReadingMovements In The Car Market
Ford predicts that it will once again reach a 10 p.c. market share in Europe within three years, according to the Wall Street Journal. Luxury car sales will play a large part in reaching the target. Renault and Nissan are moving closer together in Europe, merging their sales organisations. Around 9% of the 5,600 jobs are expected to be lost, saving some 1 billion Euro. By 2002, DaimlerChrysler intends to create 15,000 jobs. 5,000 of these will be in Germany in the service field of leasing, fleet management and fast fit services, according to the Financial Times Deutschland.
Continue ReadingPrivate Brand Platin
Platin is the private brand of German wholesaler Interpneu (Karlsruhe). Continental replaces the former producers.
Continue ReadingMore Tyres Sold By Michelin In North America Than in Europe
For the first time the volumes of Michelin tyres sold in North America (incl. Mexico) exceeded those sold in Europe.
Continue ReadingBuy Back in Hayes Lemmerz Stock Repurchase Program
Hayes Lemmerz International, one of the worlds leading suppliers of wheels, brakes, powertrain, suspension, structural and other lightweight components to the automotive and commercial highway markets, has announced that its Board of Directors has approved the repurchase of up to an aggregate of $30 million of its outstanding Common Stock. Based on current market prices, our stock is at a historical low and we believe that the repurchase program is a good investment of available funds, said Ron Cucuz, Hayes CEO and Chairman of the Board.
Continue Reading
