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Year To Date Performance From Goodyear

Goodyear has released details of the group’s performance in various markets, for the year to date, to end February. Brief details are as follows:North American Tire: February industry shipments of consumer replacement tyres were 8 per cent up on last year. Goodyear shipments to dealers were flat, as some dealers pre-bought at the end of last year. Goodyear shipped 400,000 tyres as part of the Ford replacement programme. Industry shipments of commercial tyres were 14 per cent up on last year’s levels. Goodyear’s shipments were up, but not as high as the industry figure. Industry shipments of OE tyres were up 10 per cent for car tyres and down 17 per cent for commercial tyres. Goodyear’s unit shipments outperformed the industry.European Union: Consumer replacement tyres: industry shipments + 3 p.c. Goodyear shipments lower. Commercial replacement tyres: industry shipments – 6 p.c. Goodyear shipments reflect this figure. Consumer OE tyres: both industry and Goodyear shipments up. Commercial OE tyres: both industry and Goodyear shipments down.Eastern Europe: No segmentation available, but Goodyear replacement tyre sales were up, due mainly to market recoveries in South Africa and Turkey. Goodyear OE tyre sales were down slightly.Latin America: Goodyear replacement tyre sales down, mainly in Brazil and Argentina. OE sales were up. Currencies in Brazil and Mexico were revalued, but this was offset by devaluations in Argentina and Venezuela.Asia: Replacement tyre sales were up from last year, while OE unit sales were slightly down. Improved volumes in China and India helped improve operating margins over last year.

21st March 2002/by Tyrepress Editors

Delisting For Dunlop Africa?

Dunlop Africa, the only tyre company listed on the Johannesburg Stock Exchange is moving closer to delisting. Its competitors being subsidiaries of global players Goodyear, Bridgestone/Firestone and Continental. The proposal is due before the Competition Commission this week and if accepted, Dunlop will delist from the JSE Securities Exchange on February 25. The group announced its plans in December, citing Dunlop’s status and the lack of liquidity in its shares as the reasons for delisting. The company believes that the transparency required by the listing specifically the need to release results every six months disadvantaged Dunlop with its competitors.

12th February 2002/by Tyrepress Editors

Expansion For Bridgestone In South Africa

South African company Bridgestone Firestone Maxiprest is expanding and forming a new organisation. The company is to acquire West Cape Bandag and merging four outlets of tyre distributor Prima bande to form Primax Tyres. The outlets will distribute the Maxiprest range of retreads and related tyre services. Maxiprest has 100 retail outlets and 20 retread factories across South Africa.

28th December 2001/by Tyrepress Editors

Logistic Centre Opens In Poland For Debica

Jarro Kaplan, Goodyear’s President for Middle and Eastern Europe, Africa and the Near East, recently officially opened the new Debica logistic centre in Tarnow, Poland. The storage area is 30,000 square metres and the warehouse has 30 loading docks for trucks. 200 new jobs have been created and the investment is estimated at $12 million.

28th December 2001/by Tyrepress Editors

“Disappointing” Goodyear Results

Goodyear has released details of its financial performance for the last quarter of 2000 and for the year as a whole. Sales for 2000 were a record $14.4 bn (1999: $13.4 bn), of which Dunlop contributed $2.3 bn. Goodyear estimates that currency factors reduced sales by $450 m. Net income was sharply down to $40.3 m (1999: $243.2 m). The number of tyres produced in 2000 rose by 22.8 million units to 223.3 m tyres, of which Dunlop shipped 37.3 m units. Samir Gibara, chairman and chief executive officer, described the results as “disappointing”, adding: “We have solid improvement plans in place for 2001.” Gibara went on to say that global rationalisation initiatives will reduce group employment worldwide by 7,200 and save $150 m this year, and $250 m annually thereafter.

30th November 2001/by Tyrepress Editors

ISO 9002 For Firestone East Africa

In a ceremony in Kenya, Firestone East Africa was awarded ISO 9002 quality accreditation. A spokesman said that Firestone will invest heavily in Uganda and Tanzania to boost its market share. The company already claims a 50 per cent share of the Ugandan tyre market.

30th November 2001/by Tyrepress Editors

Reshuffle at Goodyear

Goodyear has announced a reshuffle at its European businesses. Sylvain G. Valensi, the outgoing president of the European Union business unit, will be on special assignment, reporting directly to Robert Keegan, Goodyear’s president and COE. Valensi will be replaced by Michael J. Roney, who transfers from the Eastern Europe, Africa and Middle East Business Unit. Roney is in turn replaced by Jarro F. Kaplan, who previously held the post of managing director for Goodyear UK, and latterly of Goodyear Germany. Both Roney and Kaplan will report directly to Robert Keegan.

30th November 2001/by Tyrepress Editors

Loss-Making Goodyear

The group’s turnover fell from US$ 3.66 bn (1st quarter 2000) to US$ 3.41 bn for Q1 this year. Last year the group achieved earnings before taxes of US$ 80.3 million; this has turned into a loss of US$ 48.2 million. Earnings after tax fell to a loss of US$ 46.7 million. Despite these poor figures, analysts – especially from Deutsche Bank – have confidence in Goodyear, which is based on the hope that the effect of the disastrous Firestone recall will create a big advantage for first brands, and is also based on the assumption that price increases will stick. Last but not least, Goodyear has said that its on-going restructuring programme will lead to further significant cost reductions.

30th November 2001/by Tyrepress Editors

Business As Usual In South Africa – Ford And Bridgestone

In South Africa, Ford and Bridgestone/Firestone have announced that the split between the two companies in the USA will not affect their 50-year relationship. Ford SA’s director of corporate affairs Craig von Essen said that the recall problem was a matter for the US companies and that, as far as the South African company was concerned, it was “business as usual”. Bridgestone supplies South African companies with ATX and R45 Wilderness tyres, manufactured locally. As well as Ford SA, it supplies tyres to BMW SA, Toyota SA and Nissan SA.

30th November 2001/by Tyrepress Editors

Second Quarter Results From Goodyear

Goodyear has released its 2nd quarter financial results. At $3.58 billion, Q2 turnover was slightly up from Q1 ($3.4 bn) and around the same as for Q2 last year. Profits after tax were $7.8 million, nearly 90 per cent down on the figure for Q2 2000 of $77.1 m. However, Q2’s profits were a vast improvement on the $46.7 m loss recorded in Q1 2001, due largely to increased business from the replacement of Firestone tyres on Ford Explorers. For the first half of 2001, Goodyear posted a net loss of $38.9 m, compared to a profit of $125.3 m for H1 2000. Regarding the rationalisation programme, 5,800 jobs have been lost from the proposed total of 7,800.

30th November 2001/by Tyrepress Editors

Turnaround for Dunlop Africa

African tyre maker Dunlop has seen a turnaround in its fortunes, turning a loss of $18.3 million (20.23 million Euro) into a profit of $25 million (27.64 million Euro) in the first half of the year. Sales have increased by 52 percent from $577 million (637.85 million Euro) to $879.6 million (972.31 million Euro). Developments at Bulawayo and Harare, new radial tyre ranges and the development of the Common Market for Southern Africa indicate that the improvements should continue for the foreseeable future. Kenyan tyre chain Kingsway Tyres has signed a deal with Dunlop to the exclusive distribution rights to Dunlop tyres and tubes. Dunlop hopes the move will bring its products closer to the Kenyan market.

30th November 2001/by Tyrepress Editors

Final Of The Third Dunlop Drivers Cup in South-Africa

In the middle of February the time has finally come: altogether 30 winners of the national qualification heats that were held in Groß Dölln near Berlin in September 2000 could participate in the final of the third edition of the “Dunlop Drivers Cup”. The event was organised by the German daughter of the tyre producer in co-operation with Toyota, Meier’s Weltreisen, South African Airways and Maier Sports. After Patagonia (1999) and the Southwest of the United States the authorities had chosen South-Africa as the final place for this sporting event that aims to combine driving training and adventure/fun. The 26 males and four females had to face different driving tests of skill with passenger cars, 4×4 vehicles and quads, a kind of a four wheel motorcycle. With this event, Dunlop wants to focus attention on the topic of driving safety and to interest people in motorsports. The rally began in Durban. The 2,280 km long tour passed through the provinces of Kwazulu Natal, Eastern and Western Cape. The finish of the rally was in Cape Town. In the middle of the tour the Landcruiser offroaders had to be changed in Port Elizabeth. The competitors had to carry on with a Toyota Lexus IS 2000 Sport, shod with the Dunlop SP 9000 high performance tyre . The result of the race was in doubt up until the end, a sign of the high standard of driving skills of the qualifying teams. The next Dunlop Drivers Cup will be held in February 2002 in Australia. The scope of the 2002 qualifying sessions will be widened, including a European dimension.

30th November 2001/by Tyrepress Editors

South African Tyre Industry Tackles Scrap Tyre Problem

In South Africa, the tyre industry has established a non-profit-making company, SA Tyre Recycling Process, to collect scrap tyres. This scrap will be made available to organisations for recycling and tyre-derived fuel. Etienne Human, the SA Tyre Manufacturers’ Conference director, said that the project would reduce the country’s growing scrap tyre problem and benefit the environment. The new company will deal only with new scrap arisings and the industry is looking towards international organisations to fund the removal of existing stockpiles of scrap tyres.

30th November 2001/by Tyrepress Editors

Russian – Made Tyres For Conti?

An article in the newspaper Handelsblatt suggested that Continental is about to open a tyre factory in Moscow and that negotiations were close to final agreement. An investment in the region of 30 million Euros was reported. In September last year, Neue Reifenzeitung reported on negotiations between Continental and Moskauer Reifenwerke, which was very close to bankruptcy, although the financial situation may have improved as the main shareholder Yukos has sold its stake in the company. NEUE REIFENZEITUNG asked Continental for more details, but the company said it was not in a position to comment and could not confirm the figures quoted. Continental is only one of the tyre companies involved in negotiations in this area, with Michelin being another.

7th December 2000/by Tyrepress Editors

Continental Profit Figures Continue To Improve

Continental’s profit figures have improved for the sixth time running. Group turnover was 9.13 billion Euros (including Continental Teves business for the first time). EBIT rose to 511 million Euros.

7th December 2000/by Tyrepress Editors