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Lanxess Adjusts 2009 Earnings Forecast

German specialty chemicals manufacturer Lanxess AG has adjusted its earnings forecast for the 2009 business year after preliminary unaudited results revealed what it calls a “significantly better than expected” fourth quarter. The company now expects to achieve pre-exceptional EBITA of 450-470 million euros for full year 2009 after previously forecasting 400-420 million euros upon the publication of the third quarter results in November 2009. LANXESS posted EBITDA pre-exceptionals of 721 million euros in 2008.

1st March 2010/by Tyrepress Editors

China’s Tyre-makers Facing Tougher Competition – From Majors

China's tyre-makers are facing tougher – and growing – competition from major industry names, says Tire Review, as companies like Groupe Michelin, Bridgestone Corp and others are boosting their investment in China. According to the People’s Daily, “Booming domestic market made foreign companies more confident in their expansion in China, and will lead to more fierce competition,” said a manager from an unnamed Chinese tyre-maker located in Shandong province.

26th February 2010/by Tyrepress Editors

Thai Bridgestone Bandag Centre Ready for ‘Significant Growth’ in Asia

Upon announcing the opening of the latest Bridgestone Bandag Retread Center in Thailand, Bridgestone stated it anticipates the significant growth of its retreading business in Asia, and in preparation for this expansion it will begin construction of a retread materials plant in Thailand this November. The Bandag centre officially opened by Thai Bridgestone Co., Ltd. on February 25 is located at the company’s Nong Khae factory site and will, the Japanese manufacturer reports, contribute to the development of the company’s retread and solutions business in three ways; namely, through the retreading of tyres according to the Bandag process, which began on February 1; by accelerating the retread and solutions business’s development; and by conducting training for Bridgestone Bandag shop technicians employed in company owned and franchise locations. This training will include the production of retreads using the Bandag process and instruction in Bridgestone Bandag retread and solutions business method.

25th February 2010/by Tyrepress Editors

Continental Extends Football Sponsorship with World Cup 2014 Deal

Continental has extended its sponsorship of international football events with a deal to become the Exclusive Tyre Partner and Official Sponsor of 2014 FIFA World Cup in Brazil. “With preparation for activation of our sponsoring of the 2010 FIFA World Cup in South Africa going ahead at full steam, we have already laid the ground for worldwide marketing communication in the next few years by renewing the FIFA partnership through 2014,” explained Nikolai Setzer, Continental Executive Board member for Passenger and Light Truck Tyres.

24th February 2010/by Tyrepress Editors

Report: Michelin Eying Thailand Expansion

TNA reports that Groupe Michelin may be planning to boost tyre production in Thailand, but such expansion will be based on prevailing political issues in that country. Michelin Southeast Asia and Oceania managing director Frederic Vincent told TNA that Michelin sees Thailand as Asia’s most important production base for exports worldwide and planned to increase its production capacity to accommodate economic recovery in Thailand. At the same time, the managing director said the company will “monitor the political situation closely as the group did not want to witness any uncertainties.” (Tire Review)

19th February 2010/by Tyrepress Editors

Controlling Costs Through Pre-Owned Solutions

Israel based supplier of pre-owned tyre and rubber industry machinery Pelmar Engineering Ltd. recently announced its Group Board has nominated Hagai Peled to take over the role of managing director, a position he commences following “five years of successful management positions in various departments.” In February the son of company founder Jacob Peled visited Germany to attend both the Tire Technology Expo and a meeting of Pelmar Engineering managers from around the world. During the exhibition he gave an overview of Pelmar’s global business and the options it provides for tyre businesses wishing to set up or expand.

18th February 2010/by Tyrepress Editors

Aldo Pagliari to Take Over as Snap-on CFO

In the US, toolmaker Snap-on Incorporated has announced that Martin M. Ellen, senior vice president – finance and chief financial officer, has left Snap-on to become executive vice president and chief financial officer of Dr Pepper Snapple Group, Inc. To allow for an appropriate transition, Ellen will remain as Snap-on’s chief financial officer until 31 March 2010. Effective the same date, Aldo J. Pagliari, currently president – Snap-on Equipment, and formerly group controller/director of finance for the Snap-on Commercial and Industrial Group, will succeed Ellen as Snap-on’s senior vice president – finance and chief financial officer.

17th February 2010/by Tyrepress Editors

Japanese Motorists “Highly Satisfied” with Eco-Tyres’ Green Credentials

Japanese motorists that drive cars fitted with ‘fuel-efficient’ replacement market tyres have indicated in the J.D. Power Asia Pacific 2009 Japan Replacement Tire Customer Satisfaction Index Study that they are “highly satisfied” with the contribution their tyres make to fuel economy. In Japan, fuel-efficient tyres have in recent times emerged as a major replacement market product category in addition to the traditional categories of sport, comfort/luxury and standard tyres.

12th February 2010/by Tyrepress Editors

New Michelin Pilot Sport 3 Tyre Aims to Take Driving Enjoyment up a Gear

Yesterday Michelin launched the latest generation of its Pilot Sport family of high performance tyres. According to the company, the new tyre maintains all the the dry handling and high speed performance benefits of its predecessor with marked improvements in wear life (10 per cent longer); rolling resistance (10 per cent less) and wet stopping distances. In fact, the French tyre manufacturer claims to have improved the latter so much that it now stops three metres shorter than its closest competitor in the wet.

11th February 2010/by Tyrepress Editors

Bridgestone to Sponsor World Green Car Award

Bridgestone has obtained exclusive title sponsorship for the 2010 World Green Car Award. The global agreement was drawn up between Bridgestone Corporation of Japan and the World Car of the Year Awards Association, based in Canada, in December 2009. The agreement gives Bridgestone exclusive global branding rights on all communications emanating from the World Green Car Award during the 2010 calendar year and at official awards press conferences to announce the World Green Car three finalists and winner.

8th February 2010/by Tyrepress Editors

Dunlop Aircraft Tyres Signs First China Agreement

A three-year deal for the supply of bias tyres will see Taiwan based Mandarin Airlines become the first customer to utilise Dunlop Aircraft tyres’ new distribution and retreading facility in China. Dunlop Taikoo (Jinjiang) Aircraft Tyres Company Limited will supply tyres for the airline’s fleet of eight E-190/195 twin-engine medium range jets.

8th February 2010/by Tyrepress Editors

Bridgestone MotoGP Testing Underway

Bridgestone began testing for the 2010 MotoGP on 4-5 February, making three compounds (hard and extra hard at the front, medium and hard at the rear) available to riders at Sepang, Malaysia. The manufacturer reported its satisfaction with the way the tyres handled the sort of conditions it expected in South-East Asia; scorching track temperatures and rain. New bikes, new teams and new riders made for an interesting day, compounded by the fact that the top four riders on each day recorded laptimes quicker than the existing circuit lap record. Whilst the bikes were new, the available Bridgestone tyres were exactly the same specifications as used during the Malaysian Grand Prix last year. Bridgestone believes this fact assisted teams with their setup work, since the tyres provided “a known entity”.

5th February 2010/by Tyrepress Editors

Qingdao Odyking Producing a Comprehensive Range

Shandong Province based Qingdao Odyking Tyre Co. Ltd. produces and markets a full range of radial and bias tyres, including passenger car, light commercial vehicle, truck, OTR, industrial, agricultural and lawn tyres. The company reports on its website that it produces six million tyres per annum and offers quality assurances in the form of ISO9001, DOT, ECE, GCC, CCC and other certifications.

5th February 2010/by Tyrepress Editors

Federal ‘Corners’ the Market

Following the success of the programme it introduced early in 2008, Federal Tire has further developed its marketing plan for tyre dealers. In order to strengthen its market position, the company has released an “image corner” – a move it hopes will help consumers gain a better understanding of Federal. The company says it aims, through the introduction of these displays in its export markets, to create a presence that “established the essence of the Federal brand” and helps the company sustain a competitive edge while improving business.

4th February 2010/by Tyrepress Editors

Davian Enterprises Buys Wyko Tire Technology

At the beginning of January 2010 Davian Enterprises LLC, a newly founded company, acquired Wyko Tire Technology. Wyko Tire Technology had previously been owned by Eriks NV, a Dutch company, and is based in the Dudley, UK, with further manufacturing facilities located in Greenback, Tennessee. Terms of the purchase have not been released.

3rd February 2010/by Tyrepress Editors