Significant 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 ReadingDieter Hillecke Retires
Dr. Dieter Hillecke (61), Technical Managing Director of Dunlop Germany, retires on 31st December 1999. Before joining Dunlop in 1985, Hillecke filled various positions within the Pirelli international group.
Continue ReadingChanges at ContiTech
The Benecke-Kaliko Group is the second-largest part of ContiTech. Continental has decided to increase its shareholding in the company from 50.1% to 99%, buying from DG Bank. Bamberger Kaliko will be separated from the group by a management-buyout.
Continue ReadingGeneral Motors acquire remaining 50% of Saab
General Motors announced that it will acquire the remaining 50% of Saab. 130,000 Saab vehicles were produced in 1999.
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.
Continue ReadingHigher Turnover For Metzeler
The turnover of the motorcycle tyre division of Pirelli Germany (brands: Metzeler & Pirelli) in 1999 amounted to 94.9 million Euro; 1.4 p.c. more than the previous year. In motorcycle tyre terms, Pirelli is the market leader in Germany, Italy and Europe as a whole.
Continue ReadingNew Cars With Recycled Tyres
DaimlerChrysler has launched two Dodge Stratus concept cars in co-operation from a number of suppliers that has been produced mainly from recycled materials including scrap tyre. The programme is part of a scheme to verify which recycled products can be used for the production of future models.
Continue ReadingTurkish Tyre Strike Ends
3,000 Turkish tyre workers returned to work yesterday after the Government had ordered a two-month postponement because of national security issues. The Government wants to reduce inflation from the current 60% to 20%. Unions wanted a 35% rise and were offered 26.5%, which was rejected. Last week the three main manufacturers – Brisa, Goodyear and Pirelli – took out a joint press advertisement attacking the action.
Continue ReadingNew Industry Quality Standard Set By Goodyear’s OTR Retread Plant
Goodyears retread plant in North Bay (Ontario, Canada) is believed to be North America’s first Off-The-Road (OTR) tyre retreading facility to become ISO 9002 registered. The North Bay facility is Canada’s largest OTR retread operation.
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