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Despite announcing the need to idle workers at its Finland factory to adjust production, the latest financial figures for Nokian Tyres shows a company doing well in 2008. Results for the quarter ending September 30 show net sales, operating profit and net profit have increased both during the three-month period and during 2008 as a whole.
Titan has reported all time third-quarter sales, profit and income results upon releasing its latest financial results. Sales for third quarter 2008 were $255.5 million, an increase of $60 million, or 31 per cent, as compared to $195.5 million in the third quarter of last year. Gross profit, at $37.4 million for the quarter, showed an improvement of over $19 million, or 105 per cent, from the $18.3 million recorded in last year’s third quarter. Income from operations was $21.3 million for the third quarter of 2008, rising $18.5 million, or 688 per cent, compared to $2.7 million in the previous year’s third quarter. Net income was $10.3 million for the quarter, an improvement of $11 million, compared to last year’s third quarter loss of $900,000.
Joint managing directors Simon Klapwijk and Henk van Dijk founded S&H Tyres in 2001. Between them they can register nearly 50 years of experience in the tyre trade. The knowledge gained in those years together with their individual charisma and undoubted negotiating skills has played in a big part in enabling the company to become an increasingly dynamic force in the wholesale tyre industry.
And thine eye shall not pity; but life shall go for life, eye for eye, tyre for tyre…. Two men in the US city of Dallas have taken a biblical approach to their differences following an argument on October 27. According to Dallas Police, the gents were seen “arguing and getting angry with each other” in a car park at 7.30pm. The Police have released details of what followed.
The Kumho Asiana Group has held its ‘5th Kumho Asiana Group Technology Awards Ceremony’ in South Korea. The ceremony in Seoul was attended by some 150 executives, including Kumho Asiana Group chairman Sam-Koo Park. This year the company’s technology award was presented to three employees from the Kumho Petrochemical rubber research team, along with team director Young-Hoon Koh. In total, ten teams were honoured with awards at the ceremony.
Midland Specialty Tire Co., Ltd.’s decision to focus on its could off-road and industrial tyre business has positioned it to weather the current economic storm well, company representatives told Tyres & Accessories in Shanghai. Speaking to T&A during September’s CITExpo, Midland executive director, Surwin Huang explained how the Hong-Kong funded tyre factory based, which is based in mainland China has been dedicated to developing and producing tyres for agricultural implement, industrial and construction equipment since its establishment in 2003.
Surwin Huang has 32 years of experience in the tyre business which began at Armour Tyre in Xuzhou China, as this company’s sales/export manager. In 2003 Huang founded Midland Specialty Tire Co., Ltd., starting his own career in tyre manufacturing.
Drivers are facing an increased risk of being involved in a serious or even fatal accident by failing to regularly check their tyre pressures. This warning has been issued by UK tyre safety organisation TyreSafe as part of Tyre Safety Month, held throughout October.
“Although the majority of motorists are uninterested in their vehicle’s tyres, it is important to remember that they are a complex component of the vehicle that have been engineered to work in harmony with the vehicle’s sophisticated brake, steering and suspension systems and must be taken seriously,” explains TyreSafe chairman Rob Beddis. “Without regularly ensuring that tyres are correctly inflated, motorists risk compromising the way that their car behaves on the road. The first time they may become aware of this performance deficit could be when they lose control of the vehicle on an innocuous bend and are heading towards a hedgerow or into the path of an oncoming vehicle.”
Avon Tyres has once again proved a successful choice for FIA European Rallycross Championship drivers, with rallycross legend Kenneth Hansen recording his 14th ERC title, topping off a year of domination for the company in this category. Hansen’s 500bhp, four-wheel drive, Citroën C4 has run on Avon’s new-for-2008 ACB11 this year, a tyre specially designed for the ERC. It has also adorned the cars of the winners of Divisions 1A and 2, as well as the RX Cup class.
Swede Hansen finished fourth in the penultimate round of the championship in Poland to seal the main Division 1 title on his 225/640-17 ACB11s. He finished the year eight points ahead of nearest rival, Ludvig Hunsbedt. Hansen has scored two overall event wins in a close-fought season that has seen six drivers achieve race victories. The result means that Hansen has extended his own previous record of 13 ERC crowns.
“I am so happy, relieved, satisfied and quite dizzy from all the excitement,” beamed Hansen in Poland. “Of all my 14 gold medals, this was the most difficult to get and therefore I value it very highly. Now, my team and I will celebrate in style.” Jussi Pinomaki, Tomas Kotek and Michael de Keersmaecker won Div 1A, Div 2 and RX Cup classes respectively.
Apollo Tyres has its eyes on becoming a global top six player within the next five years. Furthermore, by this time it intends to achieve an annual turnover of US$4 to 5 billion.
“Me and my whole team’s desire is to be amongst the top six players of the world in the next five years,” said Apollo Tyres vice chairman and joint managing director Neeraj Kanwar said. When asked how large the company needs to grow in terms of revenue in order to reach this select group, Mr. Kanwar replied: “Well, if you are talking of the top 5-6, their turnover is in excess of US$4-5 billion dollars. The top three players in the world are in higher teens, then is Continental which is in the US$4-6 billion dollar range.”
The official lap record on the legendary 20,793 km Nordschliefe is now four seconds lighter following the exploits of German racer Jürgen Alzen and his Hankook tyres-shod Alzen-Porsche Turbo at 2008’s Circuit-Racing Challenge Nürburgring. Clocking in at 7-dead in the “Green Hell” came the team-owner and driving engineer of the Hankook H&R-Spezialfedern team, Alzen, whose brother Uwe held the previous record of 7:04 for five years.
“I am very proud of this record, as it clearly reflects the power as well as the future potential of our total package,” exclaimed a very satisfied Alzen after crossing the finish line. “Special praise also goes to Hankook Tire who once again managed to do a sensational job. The degree of grip, stability and driving performance that working with Hankook for the past two years has brought about is simply sensational. Hankook tyres always fit as if they were tailor made for every single lap.”
Lancashire-based haulier, Smiths of Bury, has taken delivery of two new DAF XF 105 4x2s which have been specified with Michelin’s XDN2 Grip tyres as original equipment. These tyres selling point is that Michelin claims they retain their grip even when two-thirds worn, the XDN2 Grip tyres are being fitted to all new vehicles joining the fleet following an extensive in-house trial which saw a set of XDN2 Grip tyres fitted as replacements on the drive axle of one of the company’s 460 hp Volvo FH12 4×2.
“The driver of the Volvo regularly visits a customer’s premises, which are spread across three levels, with a sharp turn to negotiate at the bottom of a steep incline,” says Tim Laycock, a director of Smiths of Bury. “He was reporting traction difficulties when making the turn, and so we were keen to trial the Michelin XDN2 Grip tyres to see whether they would improve things.
Nigeria’s Customs and Excise Tariff Book for the period 2008–2012 has been presented. Amongst the many new measures being implemented in an effort to help the Africa nation’s economy is a ban on the importation of used tyres. However, in the opinion of many this measure may have come to late for the country’s domestic tyre industry.
UK Tyre Pressure Monitoring Systems provider Tyresure has joined TyreSafe, the non-profit making organisation set up in 1992 with the responsibility of raising the awareness of the dangers of defective and worn tyres. As such, Tyresure is the first UK TPMS manufacturer to join forces with TyreSafe, and the company’s technology offers an obvious synergy with TyreSafe’s message of safety through correct tyre pressure.
On announcing the partnership, Tyresure UK managing director, Ian Smith looked happy to be part of the TyreSafe team. “’We’re delighted to augment TyreSafe’s message and be part of the push to educate the public into safer driving. Human nature being what it is, we know that this sound advice often falls on deaf ears, with people still rarely checking their tyre pressures. Tyresure does it for you, meaning that once you have set your tyres to the correct pressures, it’s impossible to encounter a problem without getting both a visual and audible warning. It’s hopefully something that even the most apathetic driver can do to make themselves safer.”
Despite the prices for natural rubber in India dropping more than 32 per cent in the last two months, tyre manufacturers in this country appear reluctant to follow suit with their own prices. The price of natural rubber fell below the Rs 100 ( ) a kilogram mark on October 7, the first time it has done so this year after rising to a high of Rs 140 ( ) per kilogram in August. The fall in the price is attributed to a decline in crude oil prices and a slide in international rates for latex. Further decreases in the price of natural rubber are also expected in India, the result of peak production season supply and diminished purchasing from industrial users.
Yes, we already know – some of you don’t think cold weather tyres are necessary in the UK because “we don’t have a winter here”. But for those who have noticed that it does indeed get rather cold in the months before and after Christmas, Continental has some heart warming news: Rolling resistance for winter tyres, contrary to common misconceptions, is no greater than that of their summer counterparts, thanks to the materials used, their low weight and tread design, all of which reduce tyre deformation.
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