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15046

UK Agricultural Tyre market: a steady decline but still good business

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The Agricultural tyre sector in the UK has had a tough year. It began with the aftermath of Foot and Mouth. There was an extremely wet start to the year. Then a prolonged dry period – the driest – if not the hottest – in 25 years.

Wet weather usually means more sales for the agricultural sector, but too much rain just stops the market in its tracks – no pun intended. That was the case early in the year. When the weather turned dry the public lapped up the sunshine and the long dry spell, but farmers anticipating the traditional UK summer were faced with their own dry weather difficulties.

However, tyres and traction were not amongst their troubles. Dry fields do not create traction problems and the agriculture sector stretched the mileage of existing tyres well beyond their expected lifespan. The result has been a drop in the overall market of something around 10 per cent.

The wider agricultural market is dominated by Michelin, Goodyear, Continental and Bridgestone in the UK – with the big players accounting for around 60 per cent of the market. Although just how big the market is no-one can say. That 60 per cent represents almost two thirds of the premium brand tyre market. It does not include the figures of the budget brand sector. As with the car and truck sectors there is no hard evidence to confirm the sales figures at the bottom end of the market. Asking tyre companies about market share results in a sum that is greater than the whole. But general consensus places Michelin group at the head of the market, followed by Goodyear Dunlop, then Continental and Bridgestone followed by Trelleborg/Pirelli and Vredestein.

In order to sell tyres it is, in every sector, important to know who, or what, the customer is and what is being sought. It might be a fair assumption to say that the farmer expects tyres to do the job they are asked to do. That, in itself, is open to interpretation. The contractor may be keeping an eye on the slip meter in the cab and be watching for the point of diminishing returns from a set of tyres; changing them at the point when they become inefficient for his purposes. Another farmer using the same tyres may take a different approach, saying that so long as they hold air they will stay on the tractor. Somewhere in-between there are those who only change tyres when they are damaged beyond repair – they may change the tractor at the same time as the tyres. In marketing tyres to the top end of the agricultural sector though, there must be an assumption made that the people prepared to pay the premium price for a leading brand tyre must have some concept of tyre management and an eye on productivity and efficiency.

15047

TYREXPO ASIA 2004

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‘Europe was top dog in the 1800’s, America was the great power of the last century and the next 100 years will belong to Asia’ (The Times).

A recent report by Goldman Sachs forecast that China will overtake America to become the world’s largest economy by 2040. As China’s economy grows, it will act as a magnet for raw materials and goods from surrounding Asian countries, giving a boost to the whole region. It remains one of the most exciting growth areas in Asia, with its potentially vast consumer markets and its low manufacturing cost base.

Singapore is a recognised gateway to Asia, attracting leading buyers from the whole of South East Asia and Australasia as well as the key decision makers from China and other Asian markets, providing a comprehensive mix of buyers and sellers from across the entire region.

The Asian region offers the tyre industry major opportunities for those companies committed to its long-term future. With Asian tyre consumption accounting for over 35 per cent of world demand combined with the enormous potential of tyre markets such as China and India where companies are making a name for themselves in the global tyre market, the Asian region offers investment opportunities to manufacturers and suppliers alike.

Tyrexpo Asia 2004 will be the 4th in the series of Tyrexpo Asia events that focuses on the fastest areas of growth in the tyre market and it is the only established tyre event of its kind in Asia. The 2004 event will be the largest yet and exceeds previous Tyrexpo Asia shows by over 25 per cent. The 2001 exhibition attracted visitors and exhibitors from over 63 different countries making it a truly international event. The show will once again be sponsored by Tyres & Accessories and Neue Reifenzeitung in addition to being strongly supported by specialist trade press and sponsors IE Singapore (International Enterprise Singapore). Tyrexpo Asia 2004 takes place from the 17 to 19 February at the Singapore Expo Centre and provides the perfect forum for the tyre industry to be stimulated by new ideas, products and market opportunities which reflect the importance of globalization within the region. The show focuses on every aspect of the tyre industry from tyres, retreads, tyre changing & repair equipment, to fast fit, garage equipment and parts & accessories. Amongst exhibitors are:

A-Z Formen und Maschinenbau, Big Wheel, Clipsal Airtec Pty Ltd, Collman, Columbus McKinnon, Del-Nat, Elgitread, DuroTyre, Federal Corporation, Fujikoki, Global Traco, Gummiwerk Kraiburg, Hangzhou Zhongce, Hock Lee, Italmatic, Jantsa, Kenda, Konimpex, Leka-Reifengrosshandel, Liew Koon, Mace Engineering, Midas, Mindtrac, Mohawk International, Myers Tire Supply International, Newera, Nexen Corporation, Pirelli Speciality Products, Pt Gajah Tunggal, Pt Mega Tires, Rema Tip Top, Samik Corporation, Sicam Tyre Equipment, Stamford, Tech International, Treadway Exports, Tyre Trading International, Value Tyres, Viewtum, Vipal and many more.

15048

Penske Truck Leasing Extends Goodyear Agreement

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Goodyear is to serve as Penske’s primary supplier of tyres in North America until at least 2008. Goodyear supplies Penske with a variety of truck tyres, including replacement and retreaded tyres. “We have developed an excellent supply relationship with the Penske team, and we are pleased to announce an extension of the agreement,” said Steve McClellan, Goodyear’s vice president of commercial tyre systems. In recognition of Goodyear’s past outstanding service, Penske named Goodyear as a Supplier of the Year.

15049

Hankook Tire wins $90 Mil. order from Ford

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Hankook Tire has announced that it has gained an OE order from Ford for the Econoline van for the next five years. The Korean firm is to supply 380,000 tyres every year. “This large contract signifies the worldwide recognition of our product quality and should contribute to stronger brand power,” the firm said in a statement.

15050

New Bridgestone CEO Eyes Profit-Making

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Mark Emkes says his top priority as the new chief executive of Bridgestone Americas Holding Inc. is to make the division he headed the past year turn a profit. As the Nashville-based business continues its turnaround from a devastating tyre recall in 2000, three units are making money. Not Bridgestone/Firestone North American Tire, which includes tyre manufacturing and sales of wholesale and original equipment. “We’ve made nice progress over the last 12 months, but the goal for 2004-2005 is to make that business profitable,” said Emkes, who will continue heading that division even as he takes over the entire company after John Lampe retires on March 31st.

15051

Yokohama tyre plant for Rayong (update)

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Yokohama Rubber Co aims to open a new plant in Thailand, planning to roll out tyres in April 2005. It plans to set up a company there in January to make radial tyres for trucks and buses. The company plans to spend 5.5 billion yen to build a plant in Rayong that will have an annual production capacity of 300,000 tyres in its initial phase. In the second phase annual production is scheduled to double to 600,000. Its main product will be 22.5-inch tyres, and they will be exported to markets around the world. Yokohama Rubber plans to acquire a site of up to 225,000 square metres in Rayong’s Amata City industrial park for the new plant. The plant will employ a “small-batch” production system, which is designed to maximises cost efficiency even on a relatively small production scale, Yokohama Rubber said. The company adds that it may build more tyre plants in Thailand in the future.

15052

REG UK Tyre & Automotive Recycling: Leave it to us

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REG UK Tyre & Automotive Recycling is a subsidiary of Continental Tyres and the company name adequately explains the company’s mission.

In today’s tyre industry, the recycling of scrap tyres is a subject that has grown in importance over recent years and one which has exercised every sector of the industry. REG UK came into existence in 1997, with Conti’s John Campbell named as managing director – indeed, at that time, he was the sole employee. The concept, says John Campbell, came from the then-CEO of Continental AG, Dr. Hubertus von Grünberg. Von Grünberg recognised that Continental spent considerable sums on functions such as R&D and marketing and he believed that the company should complete the circle by offering dealers a route to dispose of their scrap tyres. The idea was tried out first in Germany, with the establishment of REG Deutschland in 1992, with REG UK following five years later.

Today, REG recycles around 40,000 tonnes of tyres annually and large volumes of tyres are being consumed in UK cement kilns, with REG being one of a number of suppliers into the cement industry (the exclusive arrangement with Blue Circle ceased at the end of the 90s). In hindsight, according to John Campbell, “This situation gave REG an opportunity to be more pro-active in its marketing and in looking for new and innovative recycling solutions.”

Not only does REG look round for recycling solutions, but it looks too for recycling opportunities. The company’s remit is not confined to any particular product area – if there is waste to be disposed of, then REG will look to see if it can become commercially involved. While the problem of tyre recycling, reprocessing and disposal is one that affects all manufacturers, there are few who have embraced it to the extent of Continental with the setting up of REG and any that wanted to move in on this market would find themselves playing catch-up. REG is already established and is profitable; living proof of the old adage that “where there’s muck, there’s brass”.

15053

Bridgestone appears in good shape again in America

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Bridgestone/Firestone has survived the largest tyre recall in the history of the tyre industry in North America, and yet has switched again into forward gear. Under the guidance of its charismatic boss John Lampe, the company is now working hard on an improvement of the results, so that the record loss extending far beyond a billion dollars for 2001 will soon be forgotten.

Two years ago Lampe succeeded at Las Vegas in bringing around 4,000 tyre dealers on the side of his company and the brands Bridgestone and Firestone. And he has lost none of his persuasive power. At this year’s SEMA Show in Las Vegas Lampe presented to thousands of dealers new Firestone products and advertising campaigns, aimed to affect these Firestone customers emotionally. It became clear that the new rise of the tyre brand Firestone cannot be stopped, not even in North America.

Talking to T&A, Lampe briefly reminded us of the tough times. At the peak of the crisis the company counter-steered with the brand Bridgestone. But then again Lampe doesn’t want to hear, that Bridgestone has been made a cheaper tyre brand as planned: “A more differentiated view is necessary. With a volume line we were cheaper, because we wanted to absorb Firestone decreases, but for example with the Potenza, which represents the top line, we have always held the price and could hold it. Since the Firestone recall we carried out changes, with which we can annually sell eight million additional Bridgestone tyres by now. Today we sell more Bridgestone and Firestone tyres than before.” Before and after! Talking to John Lampe that is to be heard several times. In Lampe’s world this means: before and after the tyre recall. During the last three years a change took place towards the brands Bridgestone, Firestone and Dayton. 65 per cent of all tyres sold carry a Bridgestone or a Firestone signature; today already predominantly that of Bridgestone. And that will continue, because nowadays the OE business is exclusively carried out with Bridgestone tyres and in the longer term this should affect the company’s replacement business. Approximately 40 per cent of all passenger car and 4 x 4 tyres, that are sold in America, went “before” into the OE business. Today there is only about 30 per cent. Lampe: “Three years ago we were in a rather despairing financial situation and had to do something for relaxation. The OE business was profitable at no time. And of course we could not afford to always produce volume to whatever costs, but we have very much paid attention to profitability. Our market share is now lower than “before,” but we have the more profitable dimensions. Also Michelin acted very selectively, and into these gaps pushed some European and Asian manufacturers.”

15054

Goodyear: Nobody knows what the future has in store

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Because of the continuing market weakness and on-going high losses in North America, Goodyear’s situation in “Bob” Keegan’s 25 months as COO and president and in the 11 months as CEO remains extremely serious and worrying. Unlike competitors such as Michelin, Goodyear could not even increase market share by capitalising on the Firestone disaster.

Even worse: Bridgestone, with Firestone – a tyre brand that many predicted would not survive the crisis – is back on the road and advancing strongly. Cooper, during the third quarter 2003, added around almost ten per cent, while Goodyear could increase sales by only approximately four per cent, while the total market grew by more than six per cent. Also Goodyear’s figures continue to be under pressure, because the sporadic price increases could not compensate for past rises in raw material prices, margins remained lower than expected and the fixed costs “moved in the wrong direction” despite all restructuring measures, says Rod Lache, Analyst at the Deutsche Bank in New York.

Also the sales development in North America is not satisfactory: in 2002 Goodyear sold eight million tyres fewer in the US market compared with the year before, and in 2003 everything points to a further sales reduction of more than two million tyres. This is a clear sign of continuing acceptance problems on the market. Following this it is no surprise that analysts still do not recognise any signs of a turnaround in the recently submitted business figures for the first nine months of this year and that the visible trends give further reasons for concern regarding the future of the company.

Talking to Tyres & Accessories, Bob Keegan was still optimistic. It cannot be denied that fewer tyres than before have been sold. The biggest challenge is to generate growth in the highest market segment. This is the goal of the strategy “How Do We Win” with its seven quintessential points and its personnel policy that has already been explained to analysts in the early summer. Keegan: “I took a few good decisions concerning executive positions in order to be able to realise the necessary changes. My goal was not merely one of only bringing in outsiders. In all areas of the company we have a good mixture of old and newly-hired, high-level personnel. Jon Rich, who has to bear the load of the turnaround, has the same pattern of thinking as me.” Keegan was convinced that he has now brought together the correct executive team. “Managers who led the company into the crisis, are not necessarily the right staff to lead it out again. We needed a change of course, in order to be able to win. I feel very comfortable with the people, who now carry this responsibility along with me.”

15055

Corvette Racing switches to Michelin

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For the second time in two weeks, Michelin has announced that a major racing team will switch to its tyres. The announcement that three-time GTS class-winning Corvette Racing will switch from Goodyear to Michelin racing slicks in the American Le Mans Series follows the confirmation that Formula One team BAR-Honda will run on Michelin rubber in 2004. The No. 3 and No. 4 Chevrolet Corvette C5-Rs will begin Michelin tire tests this week in preparation for the nine-race ALMS schedule and the 24 Hours of Le Mans. Michelin-shod teams took the top ten positions and won all four classes at the world-famous endurance race in 2003, which also marked the company’s sixth consecutive overall win.

15056

Michelin has seized the opportunity in North America

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Times have changed dramatically in the North American tyre industry. Nowadays there is no such thing as a one-brand dealer. The seemingly inexorable way to ever more private brands ceased with Firestone’s tyre recall. Now tyres have penetrated more than before into the consciousness of the consumers. One expected a “flight to quality”, which is a little misleading, because the house brands manufactured by large tyre companies do not have quality deficiency. The hoped for trend is directed to brands, toward brand image, and on brand contents. With this we arrive automatically at Michelin. No tyre manufacturer, in economically good as well as bad times, did as much for the structure of its tire brand as Michelin. Michelin was not the inventor of the steel-belted radial tyre, but the French tyre maker marketed it world-wide with a persistence which is worth admiration. There is no alternative to the steel-belted radial tyre. The French did not invent the multi-brand strategy, either. But they filled this operation with content and brought it into the market in such a way that an alternative was impossible. Nevertheless, Michelin puts its stamp on the markets of this world and in particular on the American market in a completely unmistakable form when it comes to multi-brand strategy.

Las Vegas is for Michelin a good and important meeting place, but the events and meetings outside of the fair hold themselves within clearly smaller frameworks than, for example, those of Bridgestone/Firestone. Michelin has attained clear advantages in the last three years in the American market. Was Michelin now the winner, or were Bridgestone (Firestone recall) and Goodyear (continuous large company losses) only the losers? One would underestimate the French if one would attribute their advances only to the weaknesses of the competitors. Anyone who analyses the American market can come to the conclusion, that the French would have asserted themselves in any case, although perhaps not as quickly. Anyhow, in North America they do ride on a wave of success, although this market has not yet recovered completely from the dramatic break-downs of “9/11”.

15057

Pirelli takes up the challenges in the United States

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Although the results of the Pirelli group have improved during the first nine months of this year, it is the tyre business that really shines. What was taunted by analysts as the “old economy” two years ago now represents the pearl of the company. That tyres participate in the company’s turnover with “only” around 45 per cent, but with an EBIT of 174 million Euro for the first nine months in the face of expected 194 million EBIT for the company as a whole says it all. As in previous years Pirelli’s General Manager Tyres Francesco Gori travelled to Las Vegas in order to deepen contacts to the market, from which the Italian tyre manufacturer still expects a lot in the future.

On the largest tyre market of the world, the USA, Pirelli was not very lucky during the last 20 years. From all of this nothing is left. There is nothing in common and the two keep out of each others’ way. Nevertheless, Pirelli did not give up the US market. After the MIRS factory started in Rome/Georgia earlier this year, ever more strongly, the Italians will generate a turnover of approximately 250 million Euro this year with American customers and for the second time in a row will end a financial year in Northern America with a profit. This is all the more remarkable as that the initial costs of the MIRS factory are to be borne. This time Pirelli is taking the difficult and time-consuming route into the market via the OE manufacturers. But a glance on Pirelli’s OE business, which shines with high growth rates, is worth while: here Pirelli proceeds rather selectively; anyway, the Italians do not supply bread and butter tyres with weak margins. On the one hand it concerns high-quality ultra high performance and expensive Off-Road tyres, which are manufactured in Rome, and on the other hand the company supplies tyres from the Brazilian factories into the American original equipment to customers such as Ford and Chrysler. Beginning next year, Gori says, a considerable volume will also come from the newly built Brazilian tyre factory in Salvador (Feira de Santana, Bahia). This factory is considered as particularly efficient and economical, so that the OE business in Northern America might be good fun not only under volume criteria, but will be profitable as well. And concerning sales prospects Pirelli shouldn’t have any real worries, because right now there are dozens of dimensions that are homologated with General Motors, these will be followed by orders. Thus the growth in the North American OE market will continue.

However, also on the American replacement market Gori has set himself and his staff ambitious goals. According to Gori the tyre manufacturer succeeded in finding new dealers, that were interested in Pirelli, and these in sufficient numbers. Tyre dealers observe the market very closely and notice quickly, in which direction trends go and with whom they should form a coalition, in line with Gori’s perception. The good position within the OE business, in addition with predominantly high-quality tyres, let Pirelli become ever more a valuable partner for the replacement business. In the last few years Pirelli grew in North America annually by almost 20 per cent and this is what Gori wants to realise for the coming years, too. However, with all optimism Gori refers to the extremely hard competition in North America, where each manufacturer wants to maintain ground. Pirelli could improve drastically all services, delivery speed, etc., and even concerning the prices the tyre manufacturer was able to position the brand better than last year. “But,” acknowledges Gori, “we are still far away from what we want and what we have to reach.”

North America is the big challenge for Pirelli, here the Italians find larger growth prospects even over years, which must be exhausted. The termination of the co-operation with Cooper was in reality, at least it looks that way today, a completely new beginning in Northern America. Concerning the costs of distribution and services over the whole of the continent, Gori calms down: there was no problem, everything is on schedule.

15058

Yokohama plans tyre plant in Thailand

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Yokohama is set to invest 5.5 billion Yen (US$ 50.8 million) to build a new factory in Thailand, producing steel radials for trucks and buses. The new factory – Yokohama’s second for CV tyres outside Japan (the first is in the USA) – will initially produce 300,000 tyres annually, with this figure doubling to 600,000 units by 2007. The tyres will be marketed world-wide.

15059

Homologation for the Pirelli P 7 on the Volvo V50

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The Volvo V50 making its world debut at the Bologna Motor Show is the most recent testimonial to the fourth generation of the high performance Pirelli P7 range. This latest version of the tyre is designed to provide luxury saloons and station wagons with a perfect blend of performance and driving comfort.

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