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15323 search results for: eco tyres

15166

Goodyear 3Q Results: Net Income Triples

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Goodyear has published its results for the third quarter. Net income more than tripled to $33.7 million (3Q 2001: $9.3 m), while worldwide sales were down slightly at $3.5 bn ($3.7 bn). Currency movements had an estimated $4 m negative effect on sales and $10 m on earnings. For the first nine months, Goodyear posted a loss of $0.6 million, compared with a loss of $29.6 m for the same period last year. Sales were down too, at $10.3 bn ($10.7 bn), while tyre volumes slipped 2.5 per cent to 160.7 million units. Sam Gibara said that economic conditions in key markets and rising raw material costs are a concern, but Goodyear will continue to concentrate on reducing working capital.

15167

Goodyear Eagle F1 Goes Global

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The Goodyear Eagle F1 which has been progressively rolled out around the world through 2002 is to become the first global tyre. The aim of global tyres is to produce tyre sizes for the worldwide market from single region manufacturing points. That is to say, tyres of any given size type will be manufactured in a single region and shipped globally. Currently eight North-American specific tyre sizes are manufactures in Lawton, Oklahoma, and 31 popular European sizes are manufactured in Germany. The global approach will significantly reduce manufacturing and equipment costs. The F1 is the first of many tyres that Goodyear will be offering on a global scale.

15168

Michelin Shines In J D Power Brand Study

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In J.D. Power’s 2002 Global Component Branding Study, tyres and stereos came top of the list of components for which consumers prefer brand names. 68 per cent of respondents in Europe, Japan and the USA said it was important to have branded tyres, although awareness levels differed. No doubt prompted by recent recalls, more than 80 per cent of US respondents said tyre brand was important, compared to less than 20 per cent of Japanese. 17 brands were included in the study and the leading brands were Michelin, Pirelli, Goodyear and Bridgestone. Michelin’s brand was the strongest in Europe and the USA and Bridgestone was tops in Japan.

15169

Rosenthal Buys Fieldens

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Neil Rosenthal has acquired Fieldens, the Stowmarket-based supplier of specialist agricultural wheels and tyres and Honda ATV dealer. Neil Rosenthal was formerly Director (Wheels/OE) at tyre and wheel distributors Kirkby (Tyres) and has 15 years’ experience in the business. All 20 existing staff will be retained and Neil will become Managing Director. Financial details of the deal were not revealed.

15170

Michelin strengthens its partnership with Bentley

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For their 2003 racing programme, Michelin will become Bentley’s exclusive supplier in competition. This partnership involves the development and supply of tyres for preliminary testing at Sebring and the Le Mans 24 hour race. On the production car side, Michelin will become the supply partner for the new Bentley Continental GT.

15171

BFGoodrich Tires Goes Agricultural

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1997 marked the US-comeback for BFGoodrich Tires in the agricultural segment, where the brand had a long tradition. Now BFGoodrich Tires – well-known for off road and car tyres – is returning to the European agricultural tyre sector as the second world brand in Michelin’s multi-brand-strategy. Across the world and in the tyre segments where Michelin is well-known for attributes like “premium, innovator, top technology”, BFGoodrich Tires will be positioned in the “value for money” segment, in original equipment and the aftermarket also. Overlapping in some sub segments such as front and implement tyres with the brands Stomil/kormoran and Taurus will, in the long run, be resolved in favour of BFGoodrich.

15172

Another Voluntary Recall For Firestone

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Firestone is recalling 18,912 tyres produced at Wilson, North Carolina to ensure the recovery of some 890 potentially faulty units. The tyres in question are FR690 P195/65R15 with DOT No W2C6T00i402 and W2C6T001502 which may have been fitted to 2003 model year Toyota Corolla S and LE models. Firestone will be contacting the owners of the cars in the coming weeks an offering free replacement tyres. Firestone had identified and corrected a faulty piece of equipment at the plane, and had originally thought that the potentially faulty tyres had all been recovered. Subsequent information gave rise to an investigation which suggested a further 890 faulty tyres may have been released to the market. The fault creates pockets of trapped air which cause increased tyre noise and can result in “chunk out”.

15173

Tyre Recall Due To Inflation Error?

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Automotive safety experts in the USA have said that “erroneous inflation recommendations from Ford” may have played a part in the recent recall of nearly 600,000 Continental tyres, fitted as OE on Ford Expeditions and Lincoln Navigators. Rear tyres should have been inflated to 33 p.s.i., but Ford recommended 30 p.s.i. It has not been determined whether or not low pressure contributed to the current recall, but some observers pointed to the difference in recommended pressures by Ford and Bridgestone/Firestone as a factor in the spate of accidents involving Explorer SUVs and Firestone tyres.

15174

Official Opening Of Pirelli North American HQ And MIRS Plant

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Pirelli’s new North American HQ and first US MIRS tyre factory were officially opened this weekend in Rome, Georgia. The ribbon was cut by Roy E. Barnes, Governor of Georgia and Pirelli North American President and CEO Gaetano Mannino. Various other local dignitaries attended the ceremony. The complex will employ 300 in three years time, 250 of which will be involved in production. Initially there will be three MIRS modules, but Pirelli says that this number “will substantially increase” by 2003. Pirelli also says that it expects to announce new OE contracts for MIRS tyres with more than one North American car manufacturer.

15175

Bridgestone Group to Expand Global Production Capacity

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Bridgestone Corporation has announced that it and its subsidiaries will expand their collective production capacity worldwide. It also announced that the Bridgestone Group will realign the geographical distribution of production capacity for different kinds of products. Bridgestone and its subsidiaries will invest approximately 250 million dollars in the production expansion and realignment, according to the announcement. The moves are measures to cope with the shift toward larger sizes of passenger car tyres in the industrialised nations and the growing demand for commodity-grade tyres in the newly industrialising economies of Asia and elsewhere.

15176

Turnover And Profits Up For Nokian

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Nokian Tyres has released its figures for the second quarter. Looking at the figures for the first six months, both turnover and operating profit were up on 1H 2001. Turnover rose 12.6 per cent to 193.3 million Euros (1H 2001 171.6 m Euros) and operating profit was 8.7 m Euros (6.7 m). Net profit was 1 m Euros (-0.8 m Euros). The good figures were the result of price increases, improved product mix and lower material costs. Most product groups showed increased sales, with the exception of retreading materials, and the Vianor retail chain lost 2.5 m Euros.

15177

Restructuring Benefits Conti Figures

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Continental’s second quarter results are generally encouraging; better than forecast by analysts. Group sales were up slightly (0.2 per cent) compared to Q1 last year, at 2.925 billion Euros. Operating income was 193 million Euros. Divisionally, the best growth in sales was achieved by the Automotive Systems division, which gained 10.8 per cent. Revenue at the other divisions – car tyres, truck tyres and ContiTech – all fell, though all made a profit. Analysts regard Conti’s restructuring as the main reason for the good figures although the North American business of Conti General continues to have an adverse effect on profits.

15178

Investor Relations Director For Goodyear

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Goodyear Tire & Rubber has appointed Barbara B. Gould (52) as director of investor relations from September 1st, succeeding Laura K. Thompson, who will become director, finance – consumer tyres for the North American business unit. Gould has a history of investor relations and as a financial analyst; in her new role she will report to Robert W. Tieken, executive vice president and chief financial officer.

15179

Good First Half Results For Michelin – “Challenging” Next Six Months Forecast

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Michelin has released its first half figures. Compared with 1H 2001, turnover is up 1.4 per cent to 7.8 billion Euros and operating profits up 16 per cent to 569.6 million Euros. Net profits were down 31.2 per cent to 254.1 million Euros, but the figures for 1H 2001 included a sale of Peugeot shares; when these are factored out of the equation, net profits for 1H 2002 rose 279 per cent. Much of the credit for the results goes to Michelin’s restructuring programme and debt has been reduced by one billion Euros, with operating margins improving one point to 7.3 per cent of net sales. Raw material costs declined by 6 per cent over the period. Looking ahead, Finance Director Michel Rollier described the second half of the year as “challenging and uncertain”, particularly the economic crises in South America. Michelin’s shares rose nearly 4 per cent on publication of the results.

15180

Goodyear Invests $250 Million Upgrading

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Goodyear Tire & Rubber Company is investing 250 million dollars upgrading its Lawton, Oklahoma plant. The project will be split into two phases spending 125 million dollars on each phase. The initial project should be completed in early 2003 and the second phase should begin in mid-2003. The project is being driven by the demand for low profile, large diameter tyres and run-flat tyres. The company will be upgrading tyre building equipment and installing new tyre finishing tooling to produce tyres over 18 inches in diameter. There will also be a new 475,000 square foot warehouse facility constructed.

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