GM on the Hook to Tyre Companies
With General Motors now in bankruptcy, details are starting to emerge about what the troubled automaker owes some of its key suppliers. According to reports, GM still owes Goodyear some $7 million, Continental AG some $15.5 million, and another $4 million to Bridgestone Americas. GM plans to pay all of its key suppliers in full, say reports. (Tire Review/Akron)
Continue ReadingMichelin Execs Apparently on Missing Flight
Various news reports say that at least two, maybe three – Groupe Michelin executives were aboard an Air France flight that disappeared en route from Brazil to France on Monday. Dow Jones reports that two executives – the head of Latin American operations and a computing manager for Brazil – were on the Air France Airbus A330 that disappeared over the Atlantic just hours after taking off from Rio de Janeiro. Meanwhile, AFP reported that a third Michelin executive from its corporate offices in France was also on the flight. Officials say that the flight apparently lost all electronics after hitting a sudden, unexpected storm, knocking out its communications and radar devices. Currently, search teams are scouring the Atlantic off the South American coast. (Tire Review/Akron)
Continue ReadingMastercraft Tires Celebrates 100th Anniversary
In the US Cooper’s Mastercraft brand is celebrating its 100th anniversary this year, and the tyre-maker plans to use the milestone to reinvigorate the brand for future success. “Very few brands can say that they have been around for 100 years,” said Hal Gardner, Cooper vice president of marketing. “The Mastercraft brand has built a lasting commitment to quality, dependability and durability, and it’s that level of product dependability that has built trust with our Mastercraft dealers and consumers throughout the past 100 years.” Cooper said it is implementing several programmes in honor of the milestone including the creation of a 100th anniversary logo, rebate programme and sweepstakes. For example, consumers purchasing four select Mastercraft Courser and Mastercraft Avenger tires between 1 June and 31 July can receive a rebate up to $50. A full list of eligible tires, rebate amounts and rebate forms are available at MastercraftTires.com. Consumers can also enter the 100 Days of Summer Celebration sweepstakes for a chance to win a Yamaha FX SHO WaveRunner with trailer, free Mastercraft tires for life and gift cards to Bass Pro Shops. “The 100 Days of Summer Celebration is a tremendous opportunity to re-energize the Mastercraft brand and remind people of the quality that goes into each one of our tires,” said Gardner. “And going forward, we will continue to apply that same innovative approach to technology and marketing that has made us successful for a century.” (Tire Review/Akron)
Continue ReadingKumho Opening First US Retail Outlet
June 3 marks the date on which Kumho Tire is opening its first retail tyre centre in North America. The first of Kumho’s “Tires 4U” shops to officially open is located in Beuna Park, California, and will stock a comprehensive range of passenger car, 4x4 and light commercial vehicle tyres plus offer mounting, balancing and alignment services. The new centre is reportedly similar to existing Kumho retail outlets operating in Asia.
Continue ReadingTax at Ruia Group Tyre Companies under Investigation
An article published by the Indian business daily Mint indicates that three tyre companies owned by Ruia Group chairman Pawan Kumar Ruia are being investigated for tax incongruities. The probe is focusing upon the presence of “hawala” activities, a name given to the transfer of money in order to avoid taxes without a corresponding physical or electronic transfer of funds. The companies under investigation are Dunlop India Ltd, Falcon Tyres Ltd and Monotona Tyres Ltd.
Continue ReadingUpdate – Michelin Execs on Missing Flight Named
Updated news releases appear to confirm earlier reports that three senior Michelin employees are amongst those 228 people aboard the Air France airliner missing since June 1. They have been named as Luiz Roberto Anastacio, president of Michelin South America; Antonio Gueiros, its computer systems chief in Rio; and France based engineer Christine Pieraerts.
Continue ReadingWatts Tyre Group win Toyota Supplier of Year Award
UK based tyre and wheel producer Watts Tyre Group has been voted “Supplier of the Year” by Toyota Industrial Equipment SA (TIESA) at this year’s supplier conference held in Ancenis, France. This award is the highest accolade Toyota gives to its suppliers and is awarded on the basis of performance against TIESA’s key quality and delivery indicators. This year also saw Watts awarded “Certified Supplier Status” for the third consecutive year, and the company notes that this honour reflects the exceptional quality performance that has been achieved over that time. Watts has been a significant supplier to TIESA since the factory opened in 1996, supplying tyres and wheels both individually and as complete tyre and wheel assemblies for Toyota lift trucks.
Continue ReadingGripen UK Enjoying ‘Month on Month’ Growth
Over on the other side of the North Sea lies the headquarters of one of the largest and fastest growing wholesalers in Scandinavia and Europe, Gripen Wheels. The Swedish based company delivers tyres to more than 20 countries and operates numerous warehouses throughout Europe. Some 18 months ago the UK joined the list of locations where Gripen boasts a presence, and the Cambridge headquartered operation now supplies customers nationwide from its warehouse in Immingham, near Hull. Tyres & Accessories recently spoke with Gripen’s UK director, Ray Coulson, to find out how the company is progressing in our market.
Continue ReadingSealey Impact Wrench
Sealey have just launched a new ½ Square Drive Limited Torque Air Impact Wrench into their Power Tool range. The SA6035 Impact Wrench features an innovative pin clutch design which limits output torque, preventing over-tightening that can result in wheel/wheel fixing damage. The limited torque allows final tightening of nuts with a calibrated torque wrench to manufacturers specification, making this tool ideal for professional tyre shops. Full torque is still transmitted in reverse direction for rapid fixing removal and anodised fixings enable easy identification as a limited torque wrench when amongst other models. The SA6035 is currently on offer at a special price in Sealey’s Power Tool promotion and comes with a free ½ Square Drive Calibrated Micrometer Torque Wrench.
Continue ReadingBeissbarth Easy 3D Aligner
The patented Easy 3D wheel aligner from Beissbarth is the first of its kind and, says the company, offers workshops a completely new 3D wheel alignment method, comprising highly accurate cameras and an integrated reference system to ensure reliable results. Classic features of the Easy 3D include easy use, reliable technology that is robust and easily mobile - suitable for use with any lifting platform or wheel alignment pit. Using the Easy 3D, one workshop technician needs roughly seven minutes to carry out precise wheel alignment on a car. This represents a time saving of 50 per cent compared with conventional devices. Accuracy is ensured by the use of two high-precision cameras per wheel. The sensors can be positioned wherever convenient in the workshop without time-consuming calibration. The Easy 3D wheel aligner is suitable for aligning all types of cars, through to light transporters and commercial vehicles. The standard indicators enable vehicles with a wheelbase of up to 340 centimetres to be aligned. With the larger rear indicators available as optional equipment, vehicles with a wheelbase of up to 430 centimetres can be aligned.
Continue ReadingGM Files C11, Chrysler Sale OK’d
Once mighty General Motors formally filed for Chapter 11 bankruptcy protection in New York this morning. The pre-packaged bankruptcy is expected to last 30 to 90 days, and GM will receive some $30 billion in US-guaranteed loans. GM is expected to emerge from bankruptcy considerably smaller, after shuttering or selling an estimated 14 plants as part of its bankruptcy. Debt-holders and the United Auto Workers will end up with a stake in the remaining company, while the US government will be GM’s largest owner. Meanwhile, a federal bankruptcy judge has approved the sale of most of Chrysler assets to Italian automaker Fiat. The sale approval presumably clears the way for Chrysler to exit its own court protection within 60 days. Chrysler’s plan gives a 55 per cent share of the new company to a UAW trust for retirees, a 20 per cent stake to Fiat and smaller shares to the US and Canadian governments. Fiat’s share could grow to 35 per cent under the plan. (Tire Review/Akron)
Continue ReadingGoodyear Headquarters Moving Forward
Moving forward on plans for its new world headquarters, Goodyear has sold some of its Akron properties to Industrial Realty Group (IRG). In turn, Goodyear signed a multi-year lease agreement with IRG and, as part of that agreement, will remain in its existing buildings until its new headquarters located adjacent to the companys Akron Technical Center is completed. In connection with the sales, Goodyear will record a non-cash, after-tax charge of between $40 million and $45 million in the second quarter of 2009. (Tire Review/Akron)
Continue ReadingGM, Goodyear Shares on Rise
Following significant developments today for both companies, General Motors and Goodyear have both seen shares jump in value in US trading. Bloomberg says that GM moved up 19 per cent to 89 cents until trading was halted. Goodyear meanwhile rose 8.6 per cent, reaching $12.44. The company has announced following its sale of property in Akron, Ohio to Industrial Realty that it will “record a non-cash, after-tax charge of as much as $45 million in the second quarter in connection with the property sales.”
Continue ReadingWe’re a Nation of Sun, Surf and Pasta Lovers, says Michelin
We dream – so a Michelin survey tells us – of living in a country that has Australias climate, Italys cuisine and American nightlife. Our ideal world would be one with the relaxed culture of Spanish life, Italy’s art scene, and a level of friendliness that only the Americans can deliver. In fact, the only part of Britain we’d like to have in our utopia is the architecture. Michelin Green Guides gained this insight after surveying 5,000 adults. The study shows if we had our ideal place to live, we would opt for a mix of cultures and climates,” noted a Michelin Green Guides spokesman. The findings show just how cosmopolitan we have become and this is down to travelling more than ever before - not just in Europe but worldwide too.”
Continue ReadingMichelin Celebrates 120th Birthday
May 28, 2009 represented a special day in the Michelin calendar – exactly 120 years earlier the company was founded in Clermont-Ferrand, France. Situated on 12 hectares on Place des Carmes (named for a convent that formerly occupied the site), the company had only around 50 employees at the time. Two years later, the firm produced the first removable bicycle tyre, launching Michelin’s relationship with the pneumatic tyre. Today, 120 years later, Michelin is still headquartered in Clermont-Ferrand, but worldwide the company boasts 118,000 employees in 170 countries. Michelin states that, since its origins, the company has pursued the same vision of enhancing the mobility of people and goods. This vision, it says, is summed up in the company’s signature motto – “a better way forward” – which is featured on all its communication worldwide.
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