Pelmar and Cincinnati Retread Systems Partner in Retreading/Recycling Distribution Deal
Pelmar Engineering Ltd. has teamed up with Cincinnati Retread Systems (CRS) to distribution tyre reteading and recycling machinery on a global scale. The deal sees Pelmar, a leading supplier of pre-owned, reconditioned and new machinery and engineering solutions for the polymer industry, open up its distribution network of 6 subsidiaries and 10 representatives worldwide to CRS in order for both companies to reach further. CRS specializes in manufacturing Tyre Buffers, Expandable Hubs and Rims, Tyre Mulchers, Pollution Controls and Classifiers. Todd Hunsche, CRS president of the machinery division said: “In today’s global marketplace our presence in strategic locations that are beyond our reach, will now be reached thanks to cooperation with Pelmar’s global access. Pelmar and CRS will promote machinery and engineering services that will result in additional customers for both of us.”
Continue ReadingBridgestone Predicts Breakeven Net Income
Bridgestone, reports Bloomberg, has reduced its full year prediction to breakeven in line with continuing vehicle sales declines. The manufacturer had previously set its net income forecast at 3 billion yen (£19.1 billion), but in a statement delivered to the Tokyo Stock Exchange, the company suggested that the global recession has driven down demand for new vehicles and with it the need for OE tyres. Therefore the company went through with its May promise to revise its targets, concluding that it will sell fewer units in Japan, Europe and America. However, cost reduction programmes and declining raw materials prices mean that, for the first half of the year, Bridgestone now predicts a loss of 46 billion yen, 16 billion less than the original forecast of a 62 billion yen loss.
Continue ReadingMichelin Announces Repurchase Results
Michelin has published the results of a recent repurchase procedure, however the company states that the information may not be published, distributed or transmitted into the United States of America. So if you are located in this country, do not even think of clicking on the “more” link…
Continue ReadingVredestein Quatrac 3 Range Extended to Cover SUV Sizes
In the two years since Vredestein released its Quatrac 3, the company reports that the all-season tyre has proven to be “phenomenally successful.” The tyre range has now been extended to include SUV fitments, and these new additions are based upon many of features found in the passenger car range. The tyre’s extra wide tread, comments Vredestein, ensures an even better road-holding and offers exceptional stability without compromising on comfort.
Continue ReadingFederal Tire Well Rated in Japanese Performance Test
Praise for Federal Tire’s 595 RS-R has been handed out by Japan’s Rev Speed magazine. The popular performance and tuning magazine recently described the semi-slick tyre as a “a high-performance offering features a sporty personality, with a genuine bargain of attractively and affordable price.” In testing the tyre, Rev Speed sent a team of evaluators to the Nikko Circuit in central Japan, where they spent a full track day behind the wheel. The Federal product was pitted against four competitors from the UHP tyre sector. Testing on the 235/40R18 size tyres was carried out using a Subaru Impreza GRB, which performed numerous time attack and drifting manoeuvres.
Continue ReadingUS Kumho Tyre Plant Gets Tobacco Money
Even though construction of the plant is on hold, Kumho Tire USA Inc. has received a multi-million dollar state grant for the project. The OneGeorgia Authority board awarded Kumho with a $3.8 million grant for its planned tire plant in the city of White, Georgia. The funds are for site preparation and infrastructure improvements. Earlier this year, Kumho announced that it was postponing construction of the planned tyre plant due to concerns over the economy. The company has not stated when work on the facility will restart. The OneGeorgia Authority is funded by the states tobacco settlement. (Tire Review/Akron)
Continue ReadingMay Figures Show Continued European Market Decline
The ETRMA reports that in May the overall European replacement tyre market declined for the 14th consecutive month. In terms of segment demand, truck tyre sales between January and May dropped 32 per cent compared with the same period last year, and the ETRMA notes that May’s 24 per cent decline “confirms the strong deterioration of tyre demand.” According to Europool figures, approximately 600,000 truck tyres were sold Europe-wide during the course of the month. European passenger car tyre sales decreased eight per cent during the January to May period, and decreased nine per cent in May to around 12 million units. The UK market suffered a much greater drop during the month, declining 26 per cent in May.
Continue ReadingUSA Tyre Hall of Fame Nominations Open
Nominations will be accepted until 1 July for the Tire Industry Hall of Fame. The Hall of Fame is open to individuals in the tyre industry, including manufacturers, inventors, publishers, equipment suppliers, tyre association executives, tyre dealers, tyre and rubber recyclers, and retreaders. In addition, TIA is accepting nominations for its Friend of the Industry Award, which recognizes allies and proven supporters of the tyre industry. The deadline for nominations for the Tire Industry Hall of Fame and Friend of the Industry Award is 1 July. A nomination form for both awards is available on www.tireindustry.org or by calling TIA at 301-430-7280 ext. 109. (Tire Review/Akron)
Continue ReadingConti’s Neumann ‘Ready to Resign’ if Debt Solution Against Company’s Interests
Speaking at a Deutsche Bank conference, Continental AG chief executive, Karl Thomas Neumann has said he is ready to resign if the restructuring solution Conti and 90 per cent shareholder Schaeffler come up with is against Contienental’s best interests. According to Deutsche Bank analysts, Continental is “doing a good job in adapting the company to the current environment, especially in transferring fixed into variable costs (by approximately 50 per cent), mostly concerning labour costs.” However the analysts also point out that a lot of uncertainties remain including: the restructuring of the balance sheet specifically regarding a rights issue to reimburse a 3.5 billion euro debt which expires in August 2010; whether to acquire Schaeffler assets or not, and eventually the disposal of assets to accelerate debt reduction. Continental’s board is expected to present its solution around the end of July.
Continue ReadingUS ITC Will Recommend Chinese Tyre “Remedy”
In the USA, the International Trade Commission has announced that it will recommend a solution by 29 June to the United Steelworkers’ complaint that there is an overabundance of Chinese-manufactured imported tyres on the domestic market, leading to job losses and plant closures. The ITC has already backed the USW’s complaint, by virtue of a 4-2 split in voting, and will send its recommended course of action to president Obama, who is expected to take action by the end of September.
Continue ReadingTyreSafe Launches Truck Tyre Safety Web Pages
TyreSafe has added truck tyre safety information to its website and is promoting a truck tyre safety handout through its online presence. Defective tyres represent a growing number of MoT failures in the HGV sector, with statistics recorded by VOSA showing that an MoT failure rate of 36.5 percent was recorded in 2007/8, with ‘condition of tyres’ ranking as the second most common failure defect.
Continue ReadingTire Group International Opens Santiago, Chile Office
Tire Group International (TGI) has opened a new sales office in Santiago, Chile in a continuation of its marketing and distribution expansion strategy in Latin America and the Caribbean. The new office will be led by Gonzalo Miño Fourines who joins TGI with over 25 years experience in the tyre and automotive industries. Miño’s CV includes work with General Motors Chile SA, DIASA SA and Neumaticos de Chile SA. “TGI has been very successful in implementing its marketing strategy in targeted countries throughout Latin American and the Caribbean. With Gonzalo’s broad tyre industry experiences, we fully expect to continue leveraging our successes in order to further expand our presence throughout the region. Gonzalo brings a unique skill-set within sales and marketing where we feel he’ll deliver immediate benefits as he promotes our brands and the wide array of solutions and services TGI offers”, said Orlando Delgado, Tire Group International’s Senior Vice President of Business Development.
Continue ReadingReports: Lenders Set to Oppose Continental/Schaeffler Combination
Banks responsible for as much as half of Continental AG’s 11 billion euros ($15.5 billion) of debt are reportedly going to oppose the company’s proposed combination with 90 per cent shareholder Schaeffler Group. Citing “people familiar with the situation,” Bloomberg reported that the banks are concerned about the levels of debt necessary for the two companies to re-merge. According to the report, the banks are trying to half the move by blocking changes to a loan agreement first reached in 2007. The two companies have combined debts of around 24 billion euros. Neither Continental, Schaeffler nor the banks involved have yet commented. However, for all the banks fears and apparent threats to de-rail what is expected to become a reverse takeover, with less than 100 days before the German general election, government support for the move (and the thousands of jobs that depend on it) have the potential to make the re-merger work. Continental executives are expected to officially reveal their plans at the end of July.
Continue Reading“There Will Be No Split”: Mosley Claims F1 Agreement Reached
Max Mosley, the president of the FIA, has claimed that the disagreement between Formula One’s administrative body and FOTA – an association of teams most notably including Ferrari – is over. Eight of the ten F1 teams had threatened to form a breakaway series in 2010 if rules restricting their budgets had been introduced. It seems that Mosley has been forced to back down from his argument that F1 teams would have to reduce spending significantly next year; now, he told journalists at a press conference today (24 June, 2009), “There will be one F1 championship but the objective is to get back to the spending levels of the early 90s within two years.”
Continue ReadingSnap-on Training Centre Gains Rubber Association Approval
In news out of Germany, Snap-on Equipment has become the first garage equipment manufacturer to have its training centre courses authorised by the country’s rubber industry association, the wdk (Wirtschaftsverband der deutschen Kautschukindustrie). The company’s European Competence Centre of Snap-on Equipment, located near Frankfurt am Main, has been authorised to conduct training courses related to the mounting and demounting of UHP and run-flat tyres in line with wdk requirements. A prerequisite for wdk authorisation, notes Snap-on, was professional training rooms and workshops equipped with at least two wdk-certified turntable and roller-type tyre changers. The European Competence Centre is equipped with several certified tyre changers of these types; tyre/wheel assemblies, tyres and training materials are also available.
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