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Tyres & Accessories Expands International Agreement

Tyres & Accessories is pleased to announce that it has extended its editorial cooperation agreement to include magazines from South Africa (Southern Africa Treads), Asia (Rubber Asia) and Australia (Australian Tyre Dealer). The enhanced group, together with existing partners, Tire Review, NeueReifenZeitung and Tyres & Accessories now have a unique partnership designed to further enhance each magazine’s ability to provide its readers with high quality global information.

16th March 2005/by Tyrepress Editors

Continental Becomes First South African Run-Flat Producer

At the end of February Continental Tyres South announced that it had become the first manufacturer to produce run-flat technology in the country, South Africa Treads reports. The company reports that it is both “proud” and “excited” by the news, and will be embarking on comprehensive training programmes with its dealer network around the country. The SSR will grace the new generation BMW 3-series, scheduled for release in June.

11th March 2005/by Tyrepress Editors

Imports Take Their Toll on Bridgestone SA

Bridgestone Firestone Maxiprest fell deep into the read last year, the South African Business Day has reported. The group reported a headline loss of 44 million rand (almost £4 million) for the year to ended December, compared with 2 million rand (£177,000) profit for the previous year. According to the report, the company’s losses were caused by product shortages, competition from imports and the expense payments made to former directors.

2nd March 2005/by Tyrepress Editors

A New Market is Born

When you have a tyre market that grows by ten per cent each year, as in the case of Russia, an impact on the retreading market is inevitable. Although retreads still don’t have the same status as they do in Western Europe, the eleven companies that are currently doing business in this market are looking forward to a bright future. The growing new tyre market has led to the appearance of a number of different retread companies, including Bandag, Kraiburg and Ellerbrock. Smaller companies like Elgitread from India and ITG from Italy have also shown interest in the Russian market.

1st March 2005/by Tyrepress Editors

Bridgestone Thailand Sales Up 10 per cent

Bridgestone Thailand MD, Tomohiko Yoshimoto, is predicting his company’s truck and bus tyre sales will grow at least 10 per cent, Thailand’s Bangkok post has reported.

1st February 2005/by Tyrepress Editors

Goodyear Dunlop Win Slovenian Award

Dick Johnson, general manager of Goodyear Dunlop Tyres UK, has been awarded the title ‘Foreign Manager of the Year for 2004’ by the Slovenian media.

24th January 2005/by Tyrepress Editors

‘Welcome to the World of Motortainment’

The new A1 Grand Prix series is set to commence in autumn next year. As the latest edition to the motorsports calendar it is not being viewed as competition to F1 and has managed to position itself in a different sector of single seater racing. Known as the World Cup of Motorsport, A1 differs from the current F1, in that the contenders will represent their home countries and all cars will have the exact same specifications having been built by the same manufacturer. The sport will use 3.4-litre V8 engines, mounted on a Lola chassis and fitted with Cooper tyres.

Founded by Sheikh Maktoum, a member of the ruling family of Dubai, and businessmen Brian Menell and Antonio Teixeira, the FIA sanctioned series will run in motor racing’s traditional ‘off’ season. It is described by the organisers as being unique in the fact that it brings together a sustainable business model with the high speed excitement of motorsport.

Amongst the countries that have secured their place so far are the UK, South Africa, China, Portugal, Pakistan, Lebanon, Australia, Canada and Malaysia. The participants represent more than 80 per cent of the world’s population. And Dubai, Bahrain, Qatar, China, South Africa, Malaysia, Indonesia, Japan and Australia have already been selected to host the first A1 Grand Prix season, and there is still the possibility of a further two events.

There has been much emphasis put on the fact that the sport will provide a patriotic atmosphere between contenders and their supporters, with chairman of the South African team, Tokyo Sexwale, commenting: “ It will create a new patriotic edge to the sport, and add a new dimension to one of the most popular sports in the world. We are proud and pleased that there will be a South African entrant in this exciting global event. We fully subscribe to the need to spread motor racing away from its traditional European and North American roots and into the developing world. Welcome to the world of Motortainment.”

One of the essential elements of the A1 GP is that it needs to be thrilling to watch. The belief that it will be a compelling spectacle for all motorsport fans was strongly endorsed when Sky Sports bought the broadcasting rights for live coverage in the UK, of not only the races, but also the practice and qualifying sessions. Sky Sports managing director Vic Wakeling said: “We have been sold on the concept of a genuine test of driving skills and it has the added attraction of providing us with more international sport throughout the winter months.”

5th January 2005/by Tyrepress Editors

Bridgestone Increases Prices

Bridgestone has announced that it will raise its prices by 5 – 10 per cent on Bridgestone and Firestone branded passenger car tyres and by up to 10 per cent on its construction and mining vehicle products. The increases apply to products exported from Japan to Asia, the Middle East, Africa, and the former Soviet republics of the Commonwealth of Independent States (CIS).

The company says the price increases are to compensate for the rising costs of steel and oil-based materials. According to Bridgestone, the price increases will vary by product and by market, will be implemented in stages, from 1 January, 2005.

9th December 2004/by Tyrepress Editors

Bridgestone South Africa Expects Loss

Bridgestone Firestone Maxiprest (BDS) said it is expecting to make a loss of between 35 million rand and 45 million rand (£3-4 million) for the year ending December 2004, Business Day, Africa Reports. The news comes as the result of difficult trading conditions, further write-downs and provisions arising from the restructuring of the group’s operations, the company says. However, it also said the restructuring of its operations should set a base for improved performance in 2005.

The group also announced that Mr T Wada, the non-executive chairman of the company, will be returning to Japan during the course of December 2004 and has resigned as chairman and director of the company. Mr Y Ito, the non-executive chairman and CEO elect of Bridgestone South Africa (Pty) Ltd, has been appointed as non-executive chairman of Bridgestone Firestone Maxiprest Limited.

8th December 2004/by Tyrepress Editors

Cooper to Supply New Motorsport Series

Cooper will supply the A1 Grand Prix, a new FIA approved motorsport series, which will begin in September 2005. The three-year agreement requires Cooper to produce slicks and treaded rain tyres for the series championship, which the company describes as “the World Cup of motorsport.”

8th November 2004/by Tyrepress Editors

Bandag Sells South African Operation

Bandag Incorporated has reached an agreement to sell its South African business to local management. The new company will be known as Bandag Southern Africa. The deal is due become effective as of 1 December 2004, with a long term licensing agreement expected to follow when transaction is completed.

The multinational retreader points out that the South African operation represents less than 2 per cent of the Bandag’s total assets and contributed approximately $0.6 million to the company’s pre-tax income in 2003. The business will cost its new owners approximately $3.5 million. Payment will include a cash sum of $2 million with the remainder to be paid in equal instalments over five years.

According to the company, the effect that this will have on the earnings of the businesss may fluctuate over the five-year period depending on the stability of the euro and the South African rand. The company says that the expected loss will not affect Bandag’s cash flow, but rather will be an accounting entry which will reduce net earnings.

5th November 2004/by Tyrepress Editors

New Ferrari to use Goodyear Run Flats

This year’s Paris Motor Show saw the unveiling of Ferrari’s new F430, the successor to the 360 Modena.

28th September 2004/by Tyrepress Editors

ITC Meeting Moves to Portugal

The International Tyre Club is to hold its 2005 meeting in Lisbon, Portugal from March 9-11.

Club secretary James Graham pointed out the reasons behind the decision: “Although recently we have concentrated on introducing the markets of Eastern Europe to our members we do not want to over-focus on these. Other areas of Europe offer just as much new opportunity and in Lisbon we will not just be introducing new faces from Portugal itself. We will be looking to the whole of Spain, South to Morocco & NW Africa and West to Brazil. All areas of equally fast moving potential.”

The ITC’s ‘summit’ style format provides an arena for trade discussions for its tyre and wheel business members.

Club events seek to foster new and mutually beneficial commercial links in regions offering the prospect of higher than average long-term potential. Both the Czech Republic and Hungary have hosted recent successful Club meetings.

10th September 2004/by Tyrepress Editors

Goodyear Bosses Breathe a Sigh of Relief

In the first few years of the new millennium Goodyear made losses of around $2.2 billion (£1.2 billion), but now the management can breathe deeply for the first time in years because CEO, Bob Keegan and president Jon Rich seem to have made a turnaround in Goodyear’s North American home market. To download the whole article as a PDF file, click here.

3rd September 2004/by Tyrepress Editors

Ruedatec Joins Bandag Dealership

Ruedatec has officially joined the European network of Bandag dealers. Its new retreading shop and administrative building have now been formally inaugurated in the presence of Bandag’s Peter De Cabooter, sales director for Europe, Middle East and Africa (EMEA) and Danny Van Essche, EMEA marketing director.

7th July 2004/by Tyrepress Editors