Half Year Results For Michelin Confirm Disappointment
Michelin has released its financial results for the first half of the year, confirming the disappointing message given earlier. Turnover was 7,377 m Euro (first half of 1999: 6,488) and operating profit 540 m Euro (596). Increased raw material costs and a weak Euro were blamed as contributing factors, but Michelin says that the results do not fully reflect progress made in increasing competitiveness.
Continue ReadingNo Production Problems at Firestone
Investigations at Bridgestone/Firestone plants in the US have revealed no major production process problems, according to Yochiro Kaizaki, company president. He also admitted that there may not have been up to standard and that, the probability of low safety tyres may be higher. Speaking of the alleged tyre related accidents, Mr. Kaizaki added that, even with experts involved, it is hard to determine whether it is design, production, driving or car related. If we are asked if the tyres are defective, we can say that legally there are no defects. In spite of this statement there are signs that Bridgestone/Firestone are preparing to make out of court settlements with alleged victims.
Continue ReadingUltra-Low Aspect Drive Axle Tyres From Bridgestone/Firestone
Bridgestone/Firestone Europe (BFE) has revealed details of a new, ultra-low aspect tyre for trucks and city buses. Called GMD (Greatec Mega Drive) the tyre replaces a pair of dual-mounted drive axle tyres with a single unit. Advantages claimed by BFE include lighter weight, lower rolling resistance and increased carrying capacity. Sizes are 435/45 R22.5 (for city buses) and 495/45 R22.5 (for trucks). Bus tyres will be commercially available early next year and the larger GMD truck tyres in 2002.
Continue ReadingIncreasing Pressure On Goodyear To Recall “Load Range E”
Goodyear announced that the firm had received notice from the National Highways Transportation Safety Administration (NHTSA) to a preliminary investigation into its Load Range E light commercial tyres. This follows on from a number of complaints and issues raised as a consequence of a New Jersey court case being defended by Goodyear. The lawyers for the plaintiff claim that Goodyear has been aware of a problem with the Load Range E and has been conducting a silent recall, both allegations being vehemently denied by the tyre company.
Continue ReadingCarlyle wants to aquire Beru
After procuring 26.25 percent of Beru’s shares, the Carlyle Group has now made a buyout offer. Carlyle offered 30 Euros per share but Beru has rejected this take-over attempt, which Carlyle calls. Beru management believes this undervalues the company and has quoted 40 Euros as a realistic share offer for a company worth around 500 million Euros. Some months ago Beru AG, of Ludwigsburg, Germany, acquired AMI Doduco, Europes leading company in tyre pressure control systems.
Continue ReadingPneumant Up For An Oscar
East German tyre manufacturer Pneumant has been nominated by an international jury for the Milestones Award.The award is given to companies in recognition of their enterprising approach to innovative achievements.
Continue ReadingContiTech and Behr
The ContiTech group, part of Continental AG, will cooperate on certain projects with Behr GmbH of Stuttgart, which specialises in air conditioning equipment and in engine cooling. As part of the cooperation Continental will take from Behr a 51 p.c. holding in the Kühner company (making hoses, principally for original equipment in Oppenheim). The company will be integrated into ContiTech Fluid, giving Continental the industrial leadership.
Continue ReadingMichelin Open For Alliances
Edouard Michelin, CEO of the French tyre giant, can see opportunities for technical alliances with competitors, a French magazine reports. As an example, he cites the new tyre and wheel system Pax, which will be presented jointly by Michelin and Pirelli in Geneva.
Continue ReadingBridgestone 45% Truck Tyres
In 1994 Michelin presented the prototype 445/45 R 19.5 XTA truck tyre. Bridgestone has just announced in Tokyo the introduction of such an ultra low ratio tyre under the name GREATEC. The tyre is available in sizes 495/45 R 22.5 for trucks and 435/45 R 22.5 for buses.
Continue ReadingBridgestone Purchases Outstanding Stake in BATASIA
Bridgestone Corp. has purchased the remaining 50 per cent stake of Bridgestone Aircraft Tire Comp. Asia (BATASIA) from Hong Kong Aircraft Engineering Comp. Ltd. Bridgestone produces new aircraft tyres in Japan and owns retreading plants in USA, Belgium, Hong Kong and Japan.
Continue ReadingTyres And More With Michelin
Consumers can boost their air miles accounts with Lufthansa by 2,000 miles if they buy four Michelin Pilot tyres and are willing to fill out a customer survey questionnaire. More information is available from Michelin in Karlsruhe or from Michelin trade partners, although they were not able to answer questions from this magazine.
Continue ReadingFifty Years Of Matador – Transformation Process Concluded
At the beginning of May the Slovak tyre manufacturer Matador celebrated the 50th anniversary of the company. The rubber factory in Puchov continued the long tradition of the trademark, which started in Slovakia’s present capital, Bratislava, in 1905. In the thirties Matador tyres were already original equipment on all vehicles then produced in Czechoslovakia. In those days Matador’s market share in the CSR was more than 20 p.c. Building work at the Puchov factory started in 1947, and the first tyres left the new production facility three years later, on 1st May 1950. In 1953 restructuring of the Czechoslovak tyre industry took place. A new trademark was created: Barum, combining the three manufacturers Bata, Rubena and Matador. From then on the Puchov factory also produced under this brand name. After the partition of Czechoslovakia in 1993 the Barum brand was taken over by Continental. The Puchov factory, however, was not part of the deal and reverted to the old brand name Matador. Today Puchov exports more than 80 p.c. of its output under this registered trademark. The 1999 turnover of the group of companies was about 600 million DM, with the tyre activities claiming a 65 p.c. share. Investments amounted to almost 15 million DM, and 12 million DM was spent on the research and development sector. This year investments are scheduled to double. More financial resources will be directed towards sales support measures and marketing for a further improvement in market acceptance. Since January 1999 Matador has produced radial truck tyres in a production joint venture with Continental, but with the distribution of the tyres still handled separately by the two partners. In the course of an ambitious restructuring programme the Puchov factory is to be thoroughly modernised to become the largest radial truck tyre factory in Europe. Read more in NEUE REIFENZEITUNG 5/2000.
Continue ReadingPart Of Its Plastics Division To Be Sold By Cooper
Cooper Tire is to sell a part of its automotive plastics division for an undisclosed cash sum. The purchaser is Plastech Engineered Products. The plastics division accounts for around 4% of company turnover.
Continue Reading100 Years Of Firestone
Harvey Firestone established his sales company for tyres and technical rubber products in the summer of 1900 and began production of tyres in Akron, Ohio, three years later. Thanks to a big order from Ford for the famous model T, the company was immediately successful and grew rapidly. In the twenties, Firestone was, for some years, the biggest tyre manufacturer in the world. Due to a badly-managed recall in the late seventies, the company ran into extreme difficulties; it tried to avoid the recall, but eventually its hand was forced, severely damaging the companys reputation as a result. After this episode, the Firestone management was forced to sell assets every year to plug the biggest holes in the balance sheet. John Nevin was appointed CEO, but despite his extremely strict guidance, which was focused purely on shareholders, he did not manage to turn the company around. In 1988 Bridgestone acquired Firestone, turning the Japanese company into a true global player overnight. This was Firestones only realistic hope for survival. Today, Firestone is once again a world-famous and accepted tyre brand, very successful in the US and also in Europe. The revitalisation of the brand was made possible through its involvement in motorsports, especially the Indy series in the US. In May, the famous Indianapolis 500 race was won by a car fitted with Firestone tyres - this was the 51st such victory for Firestone in the history of the Indy 500. Full details can be found in the June edition of NEUE REIFENZEITUNG.
Continue ReadingBetter First Quarter Results For Pirelli
The Pirelli group has increased its turnover in the first quarter of this year by 18 p.c. The cable division achieved to a turnover of 1.05 billion Euro and an Operating Profit of 52 million Euro. The tyre division turnover increased by 12 p.c.up to 700 million Euro and the Operating Profit was 54 million Euro. Despite of fierce price competition Pirelli could achieve a 17 p.c. increase units and evidently win market shares.
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