“No Defects Found In Recalled Tyres”
Bridgestone/Firestones chief executive in the USA, John Lampe, has said that the company has not found a defect in its recalled tyres, but he did say that there was a safety issue with a small percentage. Lampes definition of a defect is something you can point to and say there is the cause and we havent been able to find a cause or combination of causes. He added that he believes the tyres only pose a safety problem when fitted to Ford Explorers.
Continue ReadingGreater Share Of Australian Cable Co. For Pirelli
Pirelli Group, already 51% shareholders in Pirelli Cables Australia Ltd is making a take-over bid, offering 52.7 European cents per share. Pirelli claims that the offer represents a 66% share premium to the average share price in the past month, 46% against the last three months. Liquidity, according to Pirelli is low, with only two shareholders owning 70% of the stock.
Continue ReadingIs Continental Chasing Matador?
Since January 1999 Continental has held a 75% stake in Matadors truck tyre production. Now rumours suggest that Continental is seeking the same deal for passenger car tyre production. There is no confirmation of this from Continental. Up until now Matador management has been keen to remain independent as far as passenger car tyre production is concerned. Matador see opportunities to develop passenger car market share throughout Europe as well as maintaining its successful position in Russia.
Continue ReadingUnease For DaimlerChrysler
According to US-based news reports, Dieter Zetsche, currently head of the truck division, is to be named as the new head of Chrysler, replacing Jim Holden. This is taken as a signal that the firms problems in America run much deeper than previously thought. It suggests that the market resistance to the Chrysler product is not solely price-based. As the problem develops and becomes more public, the greater the questions raised will be, regarding the wisdom of the Daimler-Benz/Chrysler merger.
Continue ReadingAndreas Scheiba Leaves Continental Group
Andreas Scheiba, co-managing director of the Groups equities Vergölst (Germany) and Profi (Austria) has left the group by mutual consent.
Continue ReadingTuning in Germany – History, Market Volume, Industry Trends
During the last three decades the tuning sector has become a sizeable branch of the German economy. A survey of the Verband Deutscher Automobil Tuner (VDAT) in 1994 recorded about four hundred businesses directly connected with the tuning sector. From 1994 to 1998 total turnover in the tuning industry showed an annual growth rate of just under three per cent. Compared with a 1994 turnover of 7.0 billion marks, latest estimates of the 1998 figure showed a total industry turnover of 7.7 billion marks. More recent figures are not yet available. A positive trend was also forecast for the year 1999 and estimated to be between two and three per cent to reach a figure of approximately 7.9 billion marks. This positive balance, however, is not exclusively generated by the tuning businesses, part of it is contributed by the manufacturing industry. Low-profile tyres (aspect ratio < 60) sold by the tyre manufacturing industry, for instance, are incorporated in the figures. Until the seventies the dominating theme in the industry was optimisation of engine performance, but during the last 20 years the tuners have more and more concentrated on a complete personalisation and harmonisation of the vehicle. In this context tyres and wheels take a decisive role, since this product group with its 27 p.c. turnover share in all VDAT member companies can claim the largest slice of the lucrative tuning cake.
Continue ReadingPirelli And ATS In Seat Programme
Car maker Seat is offering customers a new special equipment programme, with tyres and alloy wheels from its partners in rallying, Pirelli and ATS.
Continue ReadingWith Reifen Gundlach to the Homeland of GT-Radial
In February Reifen Gundlach GmbH organised the GT-Radial Tour 2000, a trip to GT-Radial’s country of origin. The name is a brand of radial tyres (car summer/winter, van, light truck, off-road) produced by the Indonesian tyre manufacturer Gajah Tunggal. Under the brand name Gajah Tunggal the company also produces cross-ply tyres for trucks and buses as well as industrial tyres and motorcycle tyres under brand names Nitto Tyre and IRC. In Germany GT-Radial tyres have been sold exclusively by wholesaler Reifen Gundlach (part of the Japanese Itochu group) for about six years. During the event the tyre manufacturer presented (among others) two new tyres, Preciro (available from May, eleven sizes, series 60 and 65) and Classiro (QIII/2000, seven sizes, series 70). The current range of products has also been enlarged by new sizes/versions and the Indonesians also become increasingly interested in the small transporter and van segment. When Gajah Tunggal speaks of the intention to enter the radial truck tyre business, the company is probably taking the long view. Further volume growth in the winter car tyre segment is targeted, too. Especially in Germany, one of the most important markets for the company anyway. The export business (80 to 90 p.c.) in GT-Radial tyres is (more than) vital for the manufacturer, since sales figures in the non-radial tyre segment have fallen sharply due to the Asian crisis.
Continue ReadingPirelli Sell Cisco-Shares
Pirelli has sold a first stake of its Cisco-shares for US$1.55 bn to institutional investors. When it sold its Pirelli Optical Systems for US$2.15 bn the company received Cisco-shares in lieu of payment.
Continue Reading“Shaping the Future Together” – Pirelli Dealer Forum in Hamburg
With the theme Gemeinsam Zukunft gestalten (Shaping the Future Together) a Pirelli dealer forum, one of six held in various German cities, took place just outside Hamburg at the end of March. In a number of speeches Pirelli explained how it wants to shape the future. Dr. Paolo Masera, for instance, managing director of Pirelli Reifenwerke as well as being responsible for the Italian manufacturer’s original equipment business worldwide since the beginning of the year, gave the tyre dealers an insight into Pirelli’s OE activities. He was able to tell them with pride that Pirelli had gained 254 homologations since 1996, no less than 169 of them in speed categories V and above. Last year almost ten million tyres went to European original equipment. With six or seven factories the Italians say they cover 95 p.c. of the OE business and 60 p.c. of the replacement market as well. With 12 p.c. European market share in ultra-high-performance tyres the company claims place three behind Michelin, the market leader, and Continental. Dr. Klaus Betka, board member with responsibility for production, spoke about the new manufacturing process MIRS (Modular Integrated Robotized System), while Roland Steindorf, managing director of the Sales Marketing Company, spoke about the possibilities and opportunities of e-commerce, i.e. selling on the internet. Within the framework of the so-called e-Pirelli Project the Italians plan to invest roughly two trillion lire in all divisions of the group on internet applications and new technology by the year 2002. Details are explained in the April edition of NEUE REIFENZEITUNG.
Continue ReadingBridgestone OE Success At Ferrari
The Bridgestone Potenza S-02 is the oe tyre for the new Ferrari 360 Modena. The sizes are 215/40 ZR 18 (front) and 275/40 ZR 18 (rear).
Continue ReadingRecord Results For Hayes Lemmerz
Hayes Lemmerz, the worlds leading supplier of wheels, has announced record 1999 fourth quarter and full year figures in both earnings and sales. The strong expansion of the wheel business (especially aluminium wheels) and the acquisition of CMI are the main reasons for the good results. Hayes Lemmerz also announced the contract for its sixth wheel/tire assembly facility: for BMW in Munich.
Continue ReadingStock Exchange Mostly Friendly
While Toyo shares dropped at the end of April/beginning of May, those of two other Japanese manufacturers, Bridgestone and Yokohama, gained. The share prices of Continental, Cooper, Goodyear and Michelin too.
Continue ReadingPirelli Hold Truck Tyre Day In Cairo
Pirellis Truck Tyre Day 2000 took place last weekend in Cairo, Egypt. Managers of Pirellis truck tyre division met with around 100 trade press journalists.
Continue ReadingGoodyear Turnaround “On Track”
After a bad year in 1999, Goodyear has announced that the company is now on track with its turnaround strategy.
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