Focus Named ‘Car of the Year 2000’ In USA
Journalists at the Detroit Motor Show have voted the Ford Focus Car of the Year 2000. The Focus is produced in Germany, Spain and the USA.
Continue ReadingIs Goodyear Ignoring European Rules?
The Italian Goodyear factory should close in March. EU officials have criticized the American company for not considering the rights of the employees involved.
Continue ReadingEDI Connects Tyre Retailers And Industry
At the beginning of February, German tyre dealers and the tyre industry signed an agreement that will introduce EDI (Electronic Data Interchange) as the uniformed system of electronic communication between the two business partners throughout the country.
Continue ReadingThailand Investment By Michelin
Michelin and its local joint-venture partner Siam Cement has announced an investment of THB 3,82 billion in their Laem Chabang production plant near Bangkok. The development will double the capacity to 6.12 million passenger and light truck tyres a year. Michelin Siam also operate an additional two plants in Thailand providing production of truck, earthmover and motorcycle tyres.
Continue ReadingContinental Profit Figures Continue To Improve
Continentals profit figures have improved for the sixth time running. Group turnover was 9.13 billion Euros (including Continental Teves business for the first time). EBIT rose to 511 million Euros.
Continue ReadingCASCAR Supplied By Goodyear
Goodyear announced that it is to be the official tyre supplier to the Canadian CASCAR Castrol Super Series, underlining the companys commitment to stock car racing. Special Eagle tyres were developed in Akron and manufactured at the companys racing tyre plant in Chile.
Continue ReadingB2B E-Commerce not a Revolutionary Subject for Michelin
Evolution for sure, revolution not at all. Thats Michelins opinion regarding the B2B E-Commerce initiative of leading global tyre producers which was announced recently.
Continue ReadingGeneral Motors Award For ContiTech
After last years success, Continentals business unit ContiTech has again been awarded Supplier Of The Year by the American General Motors Corporation. ContiTech Vibration Control won the prize for supplying damping elements for the engines of Opels Astra, Omega and Vectra.
Continue Reading“Only Over My Dead Body” – Goodyear And Dunlop Brands Remain In Competition
Sylvain G. Valensi (58), who has 34 years service with Goodyear, latterly as Vice President Goodyear Europe, has, since the joint venture with Sumitomo Rubber Industries (SRI), assumed the role of Vice President of Goodyear Dunlop Tires Europe. Talking to this magazine during the recent Reifen 2000 exhibition in Essen, he stressed that the major brands Goodyear and Dunlop will remain independent and will almost be in competition with each other.
Continue ReadingJoint Venture For PAX and EMT Formed By Goodyear And Michelin
Tyre giants Michelin and Goodyear are to work together in the future on their run-flat systems PAX and EMT. A joint venture company has been formed, based in the Netherlands.
Continue ReadingMontinex In Administrative Receivership
On Friday 4th August, the Montinex tyre retail group went into Administrative Receivership. Discussions with potential purchaser Stapletons Tyre Services broke down last month. The parts of the Montinex group in Receivership are Chessington Tyres, Malvern Tyres, Northway Tyres and Charlie Browns Autocentres, totalling some 144 retail outlets. It is hoped to sell these as a going concern. Fleet Tyre Management is not in Receivership and is continuing to trade. Montinex turns over £86m annually and employs 840.
Continue ReadingMorgan Tire And Auto Inc. To Buy Tires Plus Ltd.
Larry Morgan, one of the key note speakers at last months BRV/MMS-seminar at the Reifen 2000 exhibition is purchasing Tires Plus Ltd. This company has 140 outlets in nine US-states and a turnover of 220 million US-$. Combining Tires Plus Ltd. and Morgan Tire together will create the second biggest independent tyre dealer in the United States with 540 stores in 24 states and a turnover of 745 million US-$ – a retail powerhouse is how Larry Morgan describes it.
Continue ReadingKwik-Fit Buys Majority Of Montinex
It has been confirmed that Kwik-Fit has purchased the vast majority of depots which made up the Montinex group retail chain. Montinex was put up for sale by the Administrative Receiver in early August and the deadline for receipt of bids was 18th August. The Kwik-Fit deal was finalised less than two weeks later. Kwik-Fit would not reveal the exact number of centres involved, but said that the company would study them in detail in order to determine the best way forward for each - at this early stage no decisions have been made.
Continue ReadingSales Target Of 10 bn Euro In 2000 For Continental Achievable
The German group aims to achieve 10 bn Euro in sales this year. After having presented the half year figures for 2000 this is still likely, but they cannot improve the Earnings previously predicted. While Teves and ContiTech are in EBIT better than last year, the truck tyre division could improve the EBIT by five million to 33 million Euro. The p.c-tyre division is 24 million Euro in EBIT below the first half of 1999 despite an increase in sales of 4%. The situation with General Tire is poor. The companys sales climbed by 23% (in dollars only by 8%) but the EBIT is 20 million Euro below the comparable time last year. General Tire will have difficulties avoiding red figures this year.
Continue ReadingGold-Mine For Pirelli
Pirelli sold a 90% share (Cisco holds 10%) in the very young company Optical Technologies. OT has around 100 employees and a first half-year turnover of US$ 12 m. Turnover for the whole year is expected to be US$ 30 m. Optimistic observers speculated that the price would be around US$ 1 bn, while Pirelli in fact received slightly over US$ 3 bn (after tax) in cash. According to the management, acquisitions in the tyre field are unlikely, but it may be that Pirelli can bring forward the introduction of its MIRS system faster than expected. Pirelli is, and will remain, in partnership with Michelin and Goodyear to promote the PAX system.
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