The “Sachs Korea Suspension Company Ltd.” joint venture with Kasco will take over the shock absorber and pneumatic spring activities from the leading manufacturer of automotive components with headquarters in the Pusan area and supply the Korean car manufacturers.
McLaren International and Michelin today announced that they have entered into a long term agreement for the supply of tyres to the ‘West McLaren Mercedes’ Formula One racing team with effect from 2002. In 1984 this successful pairing claimed 17 race wins and both the constructors and drivers world championship.
Malaysian tyre manufacturer Simex Aircraft Tyre Company has signed an agreement to supply Boeing with radial tyres for the 777. Although Simex began aircraft tyre production in 1975, this will be the first time that the company has made radial aircraft tyres and production will begin next year. Simex has named Sumitomo Rubber Industries of Japan as its technical partner in the two-year deal.
Nokian Tyres has entered into negotiations to start tyre manufacturing in Russia as soon as possible. The possible partner has not been named.
Carlyle, the US private equity group, is said to be on the verge of paying Continental one billion Euro for its ContiTech division. Analysts say that the money will be used to finance purchases aimed at achieving Conti’s ambition to become a “chassis management” company rather than just a tyre manufacturer.
Watts Industrial Tyres (WIT), the UK market leader for industrial tyres, has signed a joint venture agreement with its Brazilian distributor to manufacture and distribute Watts brand solid tyres in Brazil. The company is ‘Souza Pinto Industria e Comercio de Artefatos de Borracha Ltda.’ and production begins this month at a new factory near Sao Paolo.
There are reports that Goodyear is planning to return to the Indy Racing League and the Indianapolis 500 as the sole tyre supplier for the 2003 season. An earlier return is not possible, as Bridgestone/Firestone has an exclusive agreement until 2002.Goodyear has supplied tyres to the IRL in the past, but ceased in 1999.
A 64-day strike at Goodyear’s chemical plant in Houston ended when union members signed an agreement. Under the agreement, some jobs will be consolidated or outsourced and wages reduced for some non-core positions. On the benefits side is an improved pension scheme, a lump sum first year wage increase and later increases linked to plant earnings. The Houston plant employs 600 and makes synthetic rubber used in the manufacture of tyres and several other products.
Nokian Tyres has terminated the agreement, made in November 1997, with Tofan, under which the Romanian manufacturer produced some agricultural and industrial tyres for the Finnish company. The reason given was that Tofan was unable to meet quality expectations.
Employees at Continental General Tire’s plant in Bryan, Ohio USA have signed an agreement ensuring an increase in wages and pensions plus a regulation of working time (a four shift programme, seven days a week) up to the year 2006. The same agreement will apply in Charlotte, General Tire’s largest plant in North America, where employees had been on strike for over a year to achieve these improved conditions. Continental’s workforce has diminished from 1,450 to around 1,300 following the strikes.
Surprisingly, Team and VRG could not come to an agreement in some major topics concerning the co-operation of the two German groups of tyre dealers. As a result VRG ended the consultations for the present.
Under the terms of the agreement Reedijk Banden Import will operate autonomously and current managing director, Marcus Reedijk will retain responsibility for the day to day running of the company. The Van den Ban group expects to realise a much stronger market position for its wholesale tyre activities. As a result of the acquisition the turnover of Van den Ban Autobanden B.V. is expected to rise to Euro 160 million.
The Chief Executive Officer of Pirelli, Mario Tronchetti Provera, considers the PAX-agreement between the two tire giants positively. Pirelli is already a developing partner, together with Michelin, regarding PAX and Run Flat Technologies in general. Tronchetti said that Goodyear’s involvement will further accelerate the development and the promotion of PAX.
Tofan Grup (Romania) is producing car tyres for Cooper-Avon at its Danubiana plant (Bucharest).
Nokian Tyres announced an off-take agreement with Michelin, mostly for heavy tyres but also for car tyres. A month ago, Continental also seemed to be interested, but obviously finished runners-up.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
