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New Plant For Bridgestone

Bridgestone Corp, Japan’s largest tyremaker, said on Tuesday it would spend 17 billion yen to build a third tyre plant in Thailand to meet growing demand for truck and bus tyres, particularly in Asia. The development, first notified in December 2000 by T&A, could also take Bridgestone to the number one position in the global tyre market. Bridgestone said in a statement that the new plant, located in Chonburi, 60 km south of Bangkok, would produce and export tyres to the Americas, Europe, the Middle East, Africa, and other Southeast Asian countries. “The new plant is a move to provide a multilateral, global response to the growing worldwide demand for truck and bus tyres,” said a spokesman for Bridgestone.

27th November 2002/by Tyrepress Editors

Michelin Sales Up, Revenue Down

Michelin’s third quarter figures reveal that revenue during the quarter fell 3.2 per cent. However, ignoring currency exchange rate variations, sales increased by 2.7 per cent. Sales for 3Q were 3.86 bn Euros. In unit terms, Michelin’s passenger car tyre unit volume sales in Europe increased by 2.5 per cent (replacement sales + 8 p.c, OE sales -8 p.c). In the USA, car tyre unit replacement sales fell 5 per cent, OE sales rose 11 per cent. Latin America and Asia showed double digit growth in both replacement and OE volume. In truck tyres, there were gains for Michelin in Europe and the US for both replacement and OE.

26th October 2002/by Tyrepress Editors

Asia Vital To Auto Industry – Report

Automotive consultants Autopolis pinpoint Asia as “critical” to the world’s car and truck manufacturers in the coming years. While sales are expected to continue falling in Europe and North America, over the next decade sales in Asia (excluding Japan) will grow at over seven times the global average, autopolis predicts, with the fastest growth in China and Thailand. Sales of vehicles in China for the year 2010 are predicted to be 4.75 million; more than double the figure for the year 2000.

14th October 2002/by Tyrepress Editors

Investor Update From Goodyear

In August, North American industry shipments of consumer replacement tires were 8 percent below last year’s levels. Goodyear’s shipments of consumer replacement tires were also down and below the industry shipment levels. However, Goodyear’s shipments to its large wholesalers continued to improve in August. Shipments of custom brand tires declined significantly from August 2001 levels. Commercial replacement tires were up 18 percent from last year’s levels. Goodyear’s shipments of commercial replacement tires increased but were below industry shipment levels.European Union industry replacement tire shipments were down 1 percent for consumer tires and down 6 percent for commercial tires compared with prior year levels. Goodyear consumer tire shipments declined at the same rate as the industry and Goodyear commercial shipments were below industry shipments. In Eastern Europe consumer replacement tire unit sales for Goodyear were up significantly compared with August of last year. Volume gains were reported in most countries, especially Russia and South Africa. The Latin American market showed August replacement tire shipments were up primarily due to higher consumer sales in Mexico and Venezuela and strong commercial sales in Brazil whilst OE shipments were down significantly from last year due to a decrease in auto production in Mexico and Brazil. In Asia replacement tire shipments increased throughout the region in August whilst OE tire shipments declined from 2001 levels due to lower sales in China and the ASEAN region.

19th September 2002/by Tyrepress Editors

Bridgestone Group to Expand Global Production Capacity

Bridgestone Corporation has announced that it and its subsidiaries will expand their collective production capacity worldwide. It also announced that the Bridgestone Group will realign the geographical distribution of production capacity for different kinds of products. Bridgestone and its subsidiaries will invest approximately 250 million dollars in the production expansion and realignment, according to the announcement. The moves are measures to cope with the shift toward larger sizes of passenger car tyres in the industrialised nations and the growing demand for commodity-grade tyres in the newly industrialising economies of Asia and elsewhere.

14th August 2002/by Tyrepress Editors

Good First Half Results For Michelin – “Challenging” Next Six Months Forecast

Michelin has released its first half figures. Compared with 1H 2001, turnover is up 1.4 per cent to 7.8 billion Euros and operating profits up 16 per cent to 569.6 million Euros. Net profits were down 31.2 per cent to 254.1 million Euros, but the figures for 1H 2001 included a sale of Peugeot shares; when these are factored out of the equation, net profits for 1H 2002 rose 279 per cent. Much of the credit for the results goes to Michelin’s restructuring programme and debt has been reduced by one billion Euros, with operating margins improving one point to 7.3 per cent of net sales. Raw material costs declined by 6 per cent over the period. Looking ahead, Finance Director Michel Rollier described the second half of the year as “challenging and uncertain”, particularly the economic crises in South America. Michelin’s shares rose nearly 4 per cent on publication of the results.

31st July 2002/by Tyrepress Editors

Bigger-Than-Expected Loss For Goodyear

Goodyear has reported a first quarter loss of $63.2 million; larger than many analysts expected. The biggest regional operating loss was $51.3 m, incurred by the North American Tyre operation. Europe was profitable with operating profits of $16.6 m (Q1 2001 $31.4m), as was Asia. Sam Gibara declared himself “disappointed” by the figures, but he expected the company to “make progress in the second quarter”. The loss was blamed on production cuts, currency levels and the return of stock worth $10 m when the Penske Automotive Center chain closed. Despite the figures, Goodyear’s shares rose 3.6 per cent on expectations of profitability in the second quarter.

26th April 2002/by Tyrepress Editors

Sava Introduces New High Performance Tyre Intensa

Slovenian tyre manufacturer Sava, since 1998 owned 60 per cent by Goodyear, presented their new high performance tyre “Intensa” for middle and upper class vehicles to the press and an international group of 360 retailers, from 21 nations, in Planica at the end of March. The directional tyre, which will replace its predecessor “Rapidex”, has been developed in co-operation with the Luxembourg R&D-department of Goodyear and will appear in 27 different sizes from 185/65 R 14 86H up to low profile dimension 235/40 ZR 17 90 W.The new tyre is made at a production plant that is regarded as one of the best and most powerful within the Goodyear organisation. In the past year the 1,400 employees manufactured seven million tyres – however just 57 per cent of these had the brand name Sava on their sidewall. The other 43 per cent were other group brands – Goodyear, Dunlop, Fulda, Debica and, until the end of 2001, some sizes of Kelly. All these brands are produced in parallel at the plant located in Kranj. The turnover of Sava could be increased 13 per cent up to 210.7 million US-Dollar under the leadership of Richard A. Johnson, former European finance boss of Goodyear. This year Sava aims to reach a result of 7.3 million units and a turnover of more than 233 million US-Dollar. Today, it is almost exclusively passenger car and light truck tyres that are manufactured in the production facility. The production of truck tyres has been shifted towards other plants in Poland and Turkey in recent years. Further foreign markets for the brand, which is well known in Central and Eastern Europe, include Western Europe, but especially South America, Middle East and Asia. Further highlights in the event programme were the guided tour through the factory in Kranj as well as a visit to the World-Cup final in ski-flying which is traditionally held in Planica.

17th April 2002/by Tyrepress Editors

Employee Shareholding Plan From Michelin

Michelin is offering 100,000 employees worldwide the chance to become preferential shareholders in the group. Employees will be able to purchase shares until the end of April with a discount and they will have usual shareholder rights, including access to financial information sent by Michelin to its employees. The object is to strengthen the relationship between the company and its employees and to give them a stake in the group’s development.

10th April 2002/by Tyrepress Editors

Gajah Tunggal

Gajah Tunggal was established in 1951 to produce bicycle tyres and inner tubes. 20 years later production of motorcycle tyres began, followed in 1981 by car tyre production. Gajah Tunggal produced its first car and light truck radial tyres in 1989, and was listed on the Jakarta Stock Exchange in 1990.In the past ten years Gajah Tunggal has grown by acquisition of suppliers such as GT Petrochem, a producer of tyre cord and nylon filament, Langgeng Bajapratma, a wire manufacturer, and Meshindo Alloy Wheel Corporation. These developments linked to constant improvements in quality control, gaining ISO 9002 quality certification in 1995, along with TÜV Certification from Germany, helped create Gajah Tunggal as one of the leading tyre manufacturers in South East Asia.The Gajah Tunggal radial tyre plant gained ISO 9001 in 1997 and has also received quality certification from several countries i.e. E-Mark from the European Community, TÜV CERT from Germany, quality testing certification from the U.S. Department of Transportation, the BPS from the Philippines and a similar certification from the Government of Brazil.Currently Gajah Tunggal sources 36% of its raw materials from its subsidiary companies. Further vertical integration and synergy of its group activities to develop higher technology and higher value-added products, are a key policy in future development of the business operation.The company has entered into an off-take agreement with Pirelli to manufacture tyres for North America and Europe.

25th March 2002/by Tyrepress Editors

Marketing Director For Goodyear Asia

Sanjay Sivanandan (35) has been appointed by Goodyear as marketing director, Asia. He has 12 years’ experience in Europe and Asia and joins the tyre manufacturer from Mars Inc., where he was responsible for business in India. Roger A. Hagstrom becomes Sales Director, Asia Region as part of Goodyear’s global sales and marketing reorganisation.

4th March 2002/by Tyrepress Editors

Philippines Plant Closure For Goodyear

Goodyear has announced the closure of its factory at Marikina in the Philippines on February 1st. Overcapacity and weakening demand were cited as the reasons. The plant employed 175 people and produced 1,200 tyres a day. Goodyear Asia Region tyre manufacturing director Harold Smith said that the Philippines tyre market was highly competitive “with a flood of low-cost imports from China and South East Asia.” The company has another factory in the Philippines, at Las Pinas, and some associates from Marikina may transfer there.

8th February 2002/by Tyrepress Editors

Postponement of Automechanika Asia 2002

Messe Frankfurt, organisers of Automechanika Asia has announced the postponement of this years exhibition, which had been scheduled to take place in Singapore from 18th – 20th April. Citing the impact of recent global events and the regional economic crises, Wolfram Diener managing director of Messe Frankfurt went on to say. “This decision is based primarily upon our concern that exhibiting companies may not receive the returns they would expect for their time and financial commitments in participating in Automechanika Asia 2002”.

5th February 2002/by Tyrepress Editors

Indian Investment For Goodyear

Goodyear is set to invest the equivalent of US$ 36.4 million in Goodyear South Asia Tyres Pvt Ltd., the company which runs a tyre factory at Aurangabad, India. This follows a previous investment by Goodyear in 1999 of US$ 62.2 million. The factory produces tyres for both the OE and replacement markets.

15th January 2002/by Tyrepress Editors

Joint Venture To Manufacture And Market Car Radials In China

The Yokohama Rubber Co. Ltd has announced that the Chinese Government has approved the establishment of a joint venture company in January 2002 to make and market radial car tyres in China. It is a jv between Yokohama, YHI Holdings (of Singapore) and Hangzhou Rubber, of China. Production will begin in April 2003, initially of 750,000 tyres a year. A second stage of investment will increase this figure up to 1.5 million tyres, depending on demand. Each stage will require an investment of $30 million.

28th December 2001/by Tyrepress Editors