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Earnings Fall At Alcoa

Alcoa, the world’s largest aluminium manufacturer and a key player in the aluminium wheel sector, reported lower fourth quarter profits due to weakened prices and lower demand from the aerospace and transport industries. The company also posted its first net quarterly loss in seven years. Fourth quarter earnings, excluding charges, were 11 cents per share, however a 28 cent per share after-tax charge for restructuring resulted in a net loss of 17 cents per share against a net income of 45 cents per share for the same quarter in the previous year. The company is continuing with restructuring activities seeking a target cost saving of $1 billion in 2003.

9th January 2002/by Tyrepress Editors

Alcoa Signs Agreement to Acquire Dooray Air Metal’s Extrusion Business

Alcoa Inc. and Dooray Air Metal Co. Ltd. have announced that they have signed a definitive asset purchase agreement for Alcoa to acquire Dooray’s aluminium extrusion assets, located in Changwon, Korea. The two companies signed a memorandum of understanding in spring 2001 for Alcoa to acquire the Dooray assets. The Changwon facility produces hard alloy extrusions, rod and bar, extruded shape and tubing for use primarily in industrial, transportation, defence and aerospace applications. The aluminium car wheel business, in which Dooray is the market leader in Korea and Alcoa is one of the biggest oe suppliers in North America, is not affected.

4th January 2002/by Tyrepress Editors

VW Microbus On Goodyear Tyres

The New Beetle aroused great enthusiasm in the United States when introduced and now VW wants to repeat the success story with a concept car called “Microbus”. At the Detroit Motor Show the reincarnation of the “love bus” from the 50s and 60s, the symbol for the flower power generation, is fitted with modern 20 inch aluminium wheels and Goodyear tyres size P 245/45 R 20.

30th November 2001/by Tyrepress Editors

New Communications General Manager At Continental

Dr. Heimo Prokop (43), director of communication at VAW Aluminium AG (Bonn/Germany), is to become the new director of communication of the Continental Group, Hannover, beginning the new job on 1st April at the latest. He succeeds Peter Schwerdtmann, who has already left the tyre manufacturer. Prokop’s main task will be the internationalisation and intensification of the communication activities of the Continental Group, underlining that it has changed from a pure tyre producer to a company that also offers chassis management solutions.

30th November 2001/by Tyrepress Editors

No Interests In Aluminium Wheels?

Alcoa Inc. of the U.S. and Dooray Air Metal Co. Ltd. of Korea have jointly announced that they have signed a memorandum of understanding for Alcoa to acquire Dooray Air Metal’s extrusion business, located in Changwon, Korea. Dooray’s production of aluminium wheels is not affected.

30th November 2001/by Tyrepress Editors

Wheel Supplier Superior Hit by Ford Production Cuts

The cut in production of 60,000 units Explorer and Ranger models by Ford in the second and third quarter could cost aluminium wheel maker Superior $2.5 million in revenue.

30th November 2001/by Tyrepress Editors

Award for BBS

Aluminium wheel producer BBS has been selected as an innovative medium-size company, by DG Bank, Frankfurt, and weekly newspaper Die Woche, for the second time. The award for the medium-size company went to BBS, ahead of 281 competitors, due to its innovative approach, especially in the field of painting wheels. Patron of this award initiative is Germany’s Minister for Economic Affairs, Werner Müller.

30th November 2001/by Tyrepress Editors

Superior Earns GM Agreement To Supply Wheels

Superior Industries International has been chosen by General Motors Corp. to supply aluminium road wheels for multiple GM vehicle lines over the next several years. Superior is a 2000 GM Supplier of the Year and was awarded the unprecedented contract based on its ability to consistently provide GM with world-class levels of quality, technology, service and price.

30th November 2001/by Tyrepress Editors

Joint Marketing Agreement for Accuride and Amcast

Accuride Corporation has announced an international marketing agreement with Amcast Industrial Corporation and Speedline s.r.l.. The agreement lays out procedures for the global marketing of the companies’ aluminium wheels for heavy/medium vehicles. This follows last year’s agreement on the marketing of steel wheels through an Amcast/Gianetti venture.

30th November 2001/by Tyrepress Editors

Two New Amcast Wheels For General Motors

Amcast Industrial Corporation has announced it has won the contract to supply two new aluminium wheels for General Motors. The wheels will appear on the 2002 Chevrolet Malibu and Cavalier. Shipment will begin during the fourth quarter of 2001.

30th November 2001/by Tyrepress Editors

First Quarter At Hayes Lemmerz

Hayes Lemmerz sales and earnings in the first quarter 2000 were at the same level as last year. A significant drop in orders for heavy truck wheels and brake components was compensated by a successful expansion of aluminium wheel capacity worldwide.

7th December 2000/by Tyrepress Editors

Hayes Lemmerz Invests in Mexico

Hayes Lemmerz International, the world’s largest wheel manufacturer, plans to invest 23 million US dollars with the objective of quadrupling the annual capacity of the Mexican aluminium wheel factory in Chihuahua to 1.2 million units by the year 2001.

7th December 2000/by Tyrepress Editors

Lightest Wheels For Concept Car

General Motors recently introduced a “Precept Technology Demonstration Vehicle” at the Detroit Motor Show as part of the project PNGV (Partnership for a New Generation of Vehicles) – a co-operation of American car makers, suppliers and the federal government. The concept car is fitted with the lightest 3.8 kg 16-inch fabricated aluminium wheels by Hayes Lemmerz.

7th December 2000/by Tyrepress Editors

Superior Repurchases Shares

Superior Industries Int., North America’s leading manufacturer of original equipment aluminium wheels, has decided to repurchase 4 million of its 26.1 million outstanding shares. New orders of more than $ 350 million in the last twelve months has allowed an aggressive expansion of capacity, but the positive developments are not reflected in Superior’s stock price.

7th December 2000/by Tyrepress Editors

Superior Industries Wins Mitsubishi Business

Superior Industries (Van Nuys, Ca.) has taken on the Mitsubishi Motor Manufacturing of America (Normal, Il.) as a new customer for cast aluminium wheels.

7th December 2000/by Tyrepress Editors