Kwik-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.
Continue ReadingETRA Scrap Tyre Recycling Conference II In Leipzig
Following the 1999 event in Schwerin, this year’s ETRA Scrap Tyre Recycling Conference will take place in Leipzig/Germany. It is scheduled for 5th December.
Continue Reading“Smart Tyre System”: TRW Joins Michelin
Michelin and TRW Automotive Electronics have agreed to develop advanced tyre pressure monitoring technology, hand in hand with Michelins PA System Technology. The companies displayed their linked technology . The technology is being displayed at the Convergence 2000 International Congress on Transportation Electronics, being held in Detroit. The TRW system will give drivers advance knowledge of underinflation and allow them to remedy the fault before pressure falls to a dangerous level. In the event of a fast puncture the PAX system ensures the tyre stays on the wheel. The TRW system uses a sensor mounted in a high tec valve that sends details by radio signal to the on board control unit. The agreement will see both companies working towards the most effective method of alerting the driver to possible problems.
Continue ReadingJoint Venture Between Autobytel And Continental
Tyre manufacturer Continental intends to engage itself more in the e-business arena – especially on the B2C (Business to Consumer) level. The company has therefore decided to begin cooperation concerning tyre distribution with autobytel.com, an independent US-American internet-platform which offers a complete car service to its customers covering the complete life cycle of the car. Working together with tyre retailers, a complete service package will be offered to customers. All retailers interested in this project will be given the opportunity to participate, even if they do not possess the necessary infrastructure at the moment. The two companies explained during a press conference in Frankfurt what they are going to do. Continental is initially investing about 15 million Euro, most of it for the creation of a tyre portal. At present the whole project exists only on paper but Continental wants to arrange the basics of this project by the end of February 2001, and the operative start is planned for autumn 2001. During the press conference, Conti CEO Kessel underlined his interests in working closely together with the professional tyre trade.
Continue ReadingYokohama Restructures To Face The Future
A year ago, there were rumours that Yokohama was seeking an alliance with Michelin. TYRES & ACCESSORIES recently visited the company and, in addition to factory and R&D facility visits, interviewed the President of Yokohama Rubber Company, Mr. Yasuo Tominaga. Mr. Tominaga spoke of the companys wide-ranging restructuring plan and whether a company the size of Yokohama can survive alone in a global market dominated by the big three manufacturers.
Continue ReadingManagement Changes At Yokohama GmbH
Junichi Okishima, who has been managing director of Yokohama Germany for five years, is returning to Tokyo at the end of this year to take up new challenges within the group. His successor will be Noria Karashima.
Continue ReadingVredestein; Wider And Faster
The Dutch manufacturer has announced the introduction of a new Z and W-rated tyre later this year, aimed at sportscars and luxury cars.
Continue ReadingFocus 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 Reading
