Resolution Found in Michelin Thailand Dispute
The International Federation of Chemical, Energy, Mine and General Workers Unions (ICEM) reports that the two-month dispute between Michelin in Thailand and rubber workers backed by ICEM affiliate Petroleum and Chemical Workers’ Federation (PCFT) has come to an end. The disagreement, which involved the company’s factory in Laem Chabang, Chonburi Province, was resolved by tripartite dialogue and, says the ICEM, its “strong intervention”, along with that of French union FCE-CFDT and Michelin’s European Works Council.
Continue ReadingSales Up, Profit Down at JK Tyre in Q1 2009
JK Tyre has reported net sales of Rs 8.51 billion (£115.0 million) for the three-month period ending March 31, 2009. This figure represents a 254 per cent increase over the Rs 8.30 billion (£112.1 million) recorded in the corresponding period last year. Operating income in the first quarter of 2009 was Rs 8.54 billion (£115.4 million), an increase of 2.45 per cent. Net profit, at Rs 1.36 billion (£18.4 million), decreased 40.7 per cent year-on-year.
Continue ReadingBridgestone Launches Updated, Fresher Global Website
On May 1 Bridgestone Corporation announced the launch of its newly updated and refreshed corporate global bridgestone.com website. The aim of the new design, Bridgestone says, is to improve the site’s ease-of-use and to explain the company’s activities in a more easy-to-understand manner. Bridgestone’s previous global website was a portal site to the websites of the main group companies. However, through its new more user-friendly redesign, Bridgestone’s says its goal is to disseminate information about the Bridgestone Group’s global activities from a centralised website to its many audiences throughout the world.
Continue ReadingTrelleborg Opens Rights Issue
Trelleborg has released a prospectus for its latest rights issue. This prospectus, instructs Trelleborg, is not for release, publication or distribution in or into the US, Australia, Canada, Hong Kong or Japan. Therefore the following information is only intended for those located outside these geographic regions. According to Trelleborg’s instructions, anyone located in the above-mentioned countries or any other country imposing legal restrictions beyond those pursuant to Swedish law are not permitted to click the “more” link and read further.
Continue ReadingRevolution Goes Classic With Cades Eros
Revolution Motorstore has added another retro-flavoured rim to its portfolio. The Cades Eros, says Revolution, mixes old-school cool with the latest production methods. The rim is available in either black, gold or silver and in 15 or 16-inch fitments – sizes that make Revolution confident the wheel will be a hit with the Classic, Retro, Euro and Jap tuning fraternities.
Continue ReadingRandstad Expands Wheel Trim Range
Randstad, one of the UK's leading Automotive Aftermarket distributors, has added to its growing car accessory offer, with the launch of a range of wheel trims.
Continue ReadingAmtel-Vredestein N.V. Declared Bankrupt
Following the news that Apollo Tyres is going to buy Vredestein Banden, the district court of Almelo in the Netherlands has declared the manufacturer’s former Russian-Dutch parent company (Amtel-Vredestein N.V.) bankrupt. As a result Amtel-Vredestein has released full-year 2008 financial results that chronicle the company’s continued decline from its poor full-year 2007 results. Full-year 2008 net losses almost doubled to US$446 million, compared with $242 million. The losses came despite relatively stable annual revenue of $881 million compared with $886 million in 2007. The financial report also sheds a little more light on the timing of Apollo’s offer for Vredestein Banden. According to the company literature, the group received a “binding offer” to acquire 100 per cent of the issued share capital from Apollo in February 2009, two months before the news that such an offer became public. By this stage the offer had long been accepted by the company’s supervisory board, a decision that was made at some point in March.
Continue ReadingJet Wheel Tyre Benfleet Named Pirelli Performance Centre
Pirelli UK Tyres Ltd has announced that Jet Wheel Tyre Benfleet has been awarded Pirelli Performance Centre (PPC) status. Jet Wheel Tyre Benfleet becomes only the 60th centre in the country to receive this prestigious award. Jet Wheel Tyre Benfleet owner Cliff Crane believes that the recognition gained from becoming a PPC member acknowledges the commitment and hard work shown by the entire team, and went on to say: “We are delighted that Pirelli have recognised Jet Wheel Tyre Benfleet by awarding us with PPC status. Everybody in the trade knows that the Pirelli PPC audit is notoriously difficult to pass and it’s a credit to everybody here that we have managed it.”
Continue ReadingRevolution Motorstore Releases Dare Razor Wheel
Revolution Motorstore is offering a new entry level wheel and tyre package. The Dare Racer is available in 15-inch only, but in practically all 4 stud fitments, covering all core Jap, tuner and modified cars. Pricing, as one might expect from Revolution, is super-sharp - with the wheels weighing in at just £369 including VAT for a full 4 wheel package with “high-performance tyres.”
Continue ReadingGfK Releases First Italian Tyre Market Figures
Passenger car and light truck tyre sales worth 271 million euros were wrung through the tills of Italian tyre market specialists in the first two months of 2009, according to new tyre data released by market research specialists GfK. The survey’s also reveals that 2.9 million units were sold in Italy in January/February 2009. Of these, passenger car summer tyres accounted for 69.5 per cent of total sales, followed by passenger car winter tyres (17 per cent), light truck tyres (7.7 per cent) and 4x4 tyres (7.1 per cent). The findings come as part of the first GfK Car Tires panel report, which only became available in Italy in January 2009. According to the company, the new panel audit covers the “tyre specialists” channel, with a represented ‘universe’ of 6,550 points of sale. For the purposes of this research GfK defined tyre specialists as those retailers for who tyres and related services accounted for more than 50 per cent of total turnover. The GfK panel only represents retailers with a minimum annual turnover of 150,000 euros.
Continue ReadingRecession Spoils BEN’s Appetite for Annual Lunch
There’s no such thing as a free lunch, and for automotive industry charity BEN a dearth of funds in this period of recession has led to the cancellation of its 2009 lunch event. The BEN Annual Lunch, a thank you to supporters that have helped the charity over the previous year, is normally sponsored so as to not divert money from the main business of care and welfare. BEN reports, however, that the recession has affected its fundraising income, and that in these “difficult times” even its traditional supporters have needed to cut their costs.
Continue ReadingAvon Encourages Tyre Pressure Checks for Bikers
Avon Tyres is urging bikers across the UK to ensure their tyres are properly inflated, warning of the sever drops in performance that can be the result of having incorrect air volumes inflating the rubber. The announcement has been made to coincide with May Bank Holiday weekend, when the crack of leather on willow is matched by the roar of the motorcycle, heralding the start of the biking summer. Having racked up a century of motorcycle tyre experience, Avon wants to make sure bikers aren’t caught on a sticky wicket in this busy period. Peter McNally, Avon Tyres’ technical product manager for motorcycle tyres, says, Tyre pressures on a motorcycle are critical to the safety of the rider aboard it – there’s no other way of putting it. The tyre’s connection with the road has to be perfect and if the tyre is under inflated after a winter’s lay-off, the bike will not handle properly and it could be dangerous.
Continue ReadingRespect Rating Reaffirms Goodyear’s Public Esteem
Respect is a much sought after commodity, as any fan of ‘The Godfather’ film trilogy can testify. Any company capable of earning and keeping the buying public’s respect holds a value tool no PR firm can replicate with slick campaigns. According to the Reputation Institute (RI) and Forbes magazine, Goodyear Tire and Rubber is one such firm – for the second year in a row it has been recognised as America’s most respected automotive company.
Continue ReadingYokohama Cuts Ribbon on Thai Proving Ground
Less than two years’ after being granted approval by the Thailand Board of Investment, Yokohama Rubber has officially opened its ‘Tire Test Center of Asia’ proving ground in Rayong Province. Work began on the 2.5 billion yen centre in September 2007 and the site was ready for use last December. Although the opening ceremony was not held until April 30, tyre testing has been performed at the proving ground since January 2009.
Continue ReadingCooper Cuts “30-50” Jobs at Melksham Tyre Plant
Cooper Tire & Rubber Company Europe has released a statement announcing its plan to cut 30-50 jobs at its Melksham, Wiltshire plant, amounting to around 4 per cent of the companys workers there. The manufacturer will invite its 1,000 employees at the site to apply for voluntary redundancy throughout May. The statement cites the reduction of costs necessary to remain competitive within its markets as the reason for the cuts.
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