In Canada, Honda dealerships, along with dealers selling the company’s ‘Acura’ brand vehicles, are to sell Yokohama tyres following an agreement made between the two companies. The 264 Honda and Acura dealers across the country have access to the most popular OE tyre sizes as well as the full range of premium Yokohama passenger car and light truck replacement tyres.
New York City is riding on Goodyear. New York City Transit, that is, the largest transit bus fleet in the United States. On October 7 Goodyear, who has been the supplier of bus and tyre services to the transit operator for some 21 years, announced it has been awarded a further seven-year contract to supply New York City Transit tyres and business solutions.
Hot on the heels of the announcement of Goodyear’s supply deal with NYC transit (see “Goodyear Renews Supply Agreement…”), midday trading saw shares rise a not-to-be-sniffed-at 55 cents (4.6 per cent), hauling the PPS up to $12.57 in midday trading.
One of South America’s leading truck tyre retreaders, Renovadora de Pneus SL, has switched over to Marangoni. At the end of August, following several months of negotiations, Marangoni Do Brasil stipulated a multi-year supply contract with the São Paulo based group.
The SL Group, founded in 1996, is a major player in the truck tyre retreading business, operating four large retreading plants located in the main cities of São Paulo state. The group employs 140 people and operates a large fleet, with more than thirty service and support vehicles – thus the company can be considered one of the largest retreaders in Brazil and the whole of South America.
Goodyear Tire & Rubber announced September 25 that it intends to draw US$600 million from its existing US revolving credit facility to counter what it says is a ‘temporary delay in its ability to access $360 million of cash currently invested with The Reserve Primary Fund’. The funds drawn also will be used to support seasonal working capital needs and to enhance the company’s cash liquidity position.
Goodyear has announced that it has put pen to paper on an agreement to supply Flight Custom III tires for Patty Wagstaff Airshows’ Cirrus Extra 300S aircraft.
Pierre Jambon, the general manager of Goodyear’s Global Aviation business says that, “Patty Wagstaff is widely recognized as the world’s premier female aerobatic pilot. We are thrilled that she has chosen to help promote Goodyear, and we look forward to a long collaboration.”
Wagstaff has been selected for the U.S. Aerobatic Team six times, having won gold, silver and bronze medals in international aerobatic competition. She was the first woman to become U.S. National Aerobatic champion and one of the few people to claim that particular victory on three occasions. Wagstaff regularly amazes audiences with her spectacular routines at airshow events across the U.S. and in Canada.
Michelin reports it has signed a ten-year agreement for the supply of aircraft tyres to the airline Emirates. The deal, the total value of which has not been disclosed, will see all 58 Airbus A380 airliners ordered by the Dubai based carrier fitted with the Michelin rubber.
Deliveries of the A380 to Emirates began in July and will continue until 2013. When the total Emirates A380 fleet is in service, the airline will be the world’s largest operator of the new double-deck aircraft
TPMS developer SmarTire Systems Inc has settled its previously pending patent infringement lawsuit against Schrader-Bridgeport International Inc. and Schrader Electronics Ltd. The terms of the August 21, 2008 settlement and license agreement between SmarTire and Schrader are confidential, reports SmarTire.
“We are very pleased with both the financial and non-financial aspects of this settlement and regard it as a positive conclusion to the action undertaken just over a year ago,” commented Dave Warkentin, president of SmarTire. “This should positively impact our business as we continue to vigorously defend our intellectual property rights.”
Pirelli has signed an agreement with the South African athlete Oscar Pistorius – the double amputee sprinter, who uses carbon fibre blades – to become a “global spokesman” for the company; a position that will eventually lead to a starring role in the manufacturer’s advertising. Pistorius, who is already sponsored by Pirelli, holds the world records for the 100m, 200m and 400m and will – the Italian giant hopes – take on a similar iconic significance in its promotional materials to Carl Lewis, who appeared in adverts for the company in his prime.
Mario Tronchetti Provera said of the Blade Runner, “Pistorious is an extraordinary person. We are happy to be able to give him our support. For Pirelli, he could represent our new Carl Lewis; his story witnesses to the fact that will, passion and technology can vanquish any obstacles, improving the lives of many.”
Because of a marketing agreement signed between Michelin and Professional Transportation Partners, 180 travel plazas, truck stops and shop facilities will officially be included in Michelin’s “wherever you go” revolution effective Sept. 1. The locations will offer Michelin products and services, which have seen unprecedented growth due to market demand for Michelin’s X One wide single truck tires, the tiremaker said.
“We have been doing great business for years with many individual PTP locations,” said Guy Pekle, vice president of sales for Michelin Americas Truck Tires. “This agreement allows us to translate the success that we have built with individual truck stops to the entire PTP network across the continent. PTP has developed a standard for service to the trucking community that we admire, and we are confident that this joint marketing agreement is going to benefit their member truck stops as well as our joint fleet customers.” (Tire Review/Akron)
Goodyear reports that the Voluntary Employees’ Beneficiary Association trust (VEBA) proposed by it and the United Steelworkers union has been approved by the US District Court. Under the terms of the settlement agreement, Goodyear will now make a US$1 billion cash contribution to the VEBA, which will provide healthcare benefits to the company’s current and future USW retirees. This one-time contribution will be made initially from existing cash reserves and available credit lines.
“Gaining court approval for the VEBA is a win-win for Goodyear and for our current and future USW retirees,” said Goodyear Chairman Robert J. Keegan. “This agreement both protects retiree benefits for years to come and removes a significant legacy obligation from our North American business.”
California will soon be lead-wheel weight free, thanks to a new agreement with one major automaker and wheel weight suppliers. Chrysler LLC, the last U.S. carmaker still using lead weights, signed a legal agreement with the California Center for Environmental Health, in which the automaker will stop selling lead wheel weights by the end of 2009.
Joining the agreement were wheel weight marketers Plombco, Hennessy Industries and Perfect Equipment. The agreement brought to a close a lawsuit filed by the CEH against the companies which sought to end the sale and use of lead weights in the state. (Tire Review/Akron)
On August 15 environmental officials from ten states along both sides of the border between the USA and Mexico signed the Tire Initiative Letter of Understanding, a document committing the states to combat the issue of scrap tyres in the interest of public health. The agreement, signed during the annual Border Governors Conference in Los Angeles, is a joint partnership between the US Environmental Protection Agency (EPA) and the Mexican Ministry of Environment and Natural Resources.
Playing a starring role at the Olympics opening ceremony meant a $30 million payout for former Chinese gymnast Li Ning. Investors reportedly snapped up shares in his Hong Kong-listed sportswear firm, Li Ning Co. Ltd., hoping that global recognition would follow the spectacle of the opening ceremony. However, tyre experts may be interested to learn taht Li-Ning Co. announced recently signed a tie up with Michelin to start technical cooperation to produce high-performance sports shoes.
Developer and manufacturer of lithium-ion batteries for hybrid and electric vehicles, Ener1, has acquired the 19.5 per cent share in joint venture company EnerDel held by former joint venture partner Delphi Corporation. This share purchase gives Ener1 100 per cent ownership in EnerDel and brings along with it exclusive ownership of essential manufacturing and intellectual property assets from Delphi. The agreement was approved by US judge Robert Drain, who is overseeing Delphi’s efforts to emerge from bankruptcy.
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