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Burst Tyre Closes Heathrow Runway

Heathrow’s northern runway was forced to close for 20 minutes on 15 May after an arriving Ethiopian Airlines aircraft burst a tyre during landing. “The aircraft made a routine safe landing, exited the runway and passengers disembarked,” a Heathrow airport spokesperson told BBC News.

Meanwhile, in an unrelated incident, two tyres fitted to a Qantas 737-800 blew during take-off for a flight from Sydney to Canberra. None of the 92 passengers on board was hurt and they were all rebooked on to later flights. “The flight crew acted in accordance with their training,” said a Qantas spokeswoman.

16th May 2008/by Tyrepress Editors

Hayes Lemmerz CFO & Executive VP Yost Resigns

The CFO and executive vice president of Hayes Lemmerz, James A. Yost, has announced his resignation from the company. Mr. Yost, who has been with Hayes Lemmerz since 2002, is taking up a similar position at Dana Holding Corporation.

“It has been a pleasure working with the Hayes management team over the past six years. Helping the company emerge from reorganisation into a strong, global automotive supplier has been a great experience. The company is poised for continued success and I wish the team well,” said Yost.

14th May 2008/by Tyrepress Editors

Yokohama Personnel Changes

Yokohama Tire Corp. announced that Takao Oishi will be promoted to corporate officer of The Yokohama Rubber Co., effective June 27. This is the second promotion this year for Oishi, who assumed the role of president & CEO of YTC on April 1, 2008. Oishi succeeded Norio Karashima, who was promoted to managing corporate officer earlier this year, and effective June 27, to director and senior managing corporate officer of YRC, headquartered in Tokyo. Oishi will continue to be based in Fullerton, California, where he will retain oversight of YTC.

14th May 2008/by Tyrepress Editors

JK Tyre Quarter Figures

Results for JK Tyre’s quarter ended March 31, 2008 show a net profit of Rs 230.2 million (£2.87 million), an increase of 67.4 per cent over the corresponding quarter last year. This profit came through net sales of Rs 8.29 billion (£103.2 million).

Upon releasing the quarter results on April 29, vice chairman and managing director Raghupati Singhania commented that the company’s Board of Directors had approved the takeover of Tornel in Mexico, and that the company’s combined capacity post-takeover would be 940 tons per day.

2nd May 2008/by Tyrepress Editors

Sale of Conti’s Truck Tyre Division Still an Option

A comment made by the CFO of Continental AG during a conference call indicates the German manufacturer still considers the sale of its truck tyre division an option for the future. According to a report published by Forbes, Dr. Alan Hippe said, “should the division be unable to reach the targeted margin, we will have to consider a divestment.” However Dr. Hippe added he doesn’t foresee such a transaction occurring in the short-term.

According to results Conti released on April 29, the company’s Commercial Tire division attained sales of 328.4 million euros during the first quarter of 2008, a decrease of 4.7 per cent on the previous year. Upon releasing the quarter’s figures Executive Board chairman Manfred Wennemer commented, “In the Commercial Tires division, we implemented measures to again significantly improve the margin.” However the unit’s adjusted EBIT margin was 3.8 per cent for the quarter, well below Continental’s adjusted EBIT margin target of 10 per cent for all divisions by 2010.

30th April 2008/by Tyrepress Editors

Continental to Sell Fuel Supply Business Unit

In order to focus more on core business Continental intends to sell its fuel supply business unit. As part of the company’s Powertrain Division, this business unit produces fuel transport and tank bleeding systems, and Conti reports that it is both profitable and a market leader. In spite of this, it must go: “As this business is not among the core activities of the division, which focuses on components for motors and powertrains, we have decided to sell it after an in-depth analysis,” explained Dr. Karl-Thomas Neumann, the Continental Board Member responsible for the Powertrain Division.

Dr. Neumann mentioned that a key element of Continental’s strategy is active portfolio policy: “This means that we always continually assess both the possible acquisition of companies as well as options for selling company units. We take into consideration the market position and size of a business, its sustainable profitability, its strategic positioning and how much the current unit counts towards the core business of the company,” he explained.

24th April 2008/by Tyrepress Editors

Noble Retires as Bridgestone Australia Director

Bridgestone Australia’s Board of Directors has announced the retirement of Mr Barry Noble, B.Ec, FAICD, as a director of the Company, effective as of 1st August 2008. Mr Noble joined the Board as a non-executive director in July 2003, and the company’s directors have acknowledged Mr. Noble’s “significant contribution as an independent director during his five years on the Board.”

In March 2007, the directors advised that a proposal to privatise Bridgestone Australia through a selective capital reduction had been approved by shareholders. As a result, the company became a wholly owned subsidiary of Bridgestone Corporation of Japan. Now that these arrangements have been settled, the decision has been made that it is no longer necessary to have a non-executive director on the Board of the Australian company.

22nd April 2008/by Tyrepress Editors

Micheldever Enhances Logistics with New Appointment

The continued development of Micheldever Tyre Services, a significant player in the UK passenger car and 4×4 tyre wholesaling scene, has led to the appointment of a new company logistics director. Dave Haddock, formerly director of logistics at B&Q, has come on board at a time when Micheldever reports an increasing appreciation of logistic and transport functions as a crucial factor to the company’s continued success and expansion. Micheldever believes Haddock’s appointment will provide the impetus needed to create an industry leading warehousing and transportation facility.

17th April 2008/by Tyrepress Editors

Tzunamee From Barracuda

“Tzunamee” is the name of the latest wheel from Barracuda, with a striking design that the manufacturer says really catches the eye.
The powerful visual impression is defined by a combination of two different spider designs, which produce ten basic spokes together, doubling in number as they branch outwards. The branches of the new spider design extend from the rim base all the way to the rim edge. Fitted with bolts, between which the “Barracuda” logo has been discreetly positioned, the finishing tips of the other design create the impression of a composite rim.

The spokes of the second spider greatly increase the strength of the wheel, whilst the construction permits an extremely lightweight design. For example, the wheel with the size 8×18″ has thus been given a wheel-load guarantee of a possibly record-breaking 880 kg by the TÜV (German Technical Control Board).

1st April 2008/by Tyrepress Editors

Conti’s Hippe to Run Passenger & Light Truck Tyre Divisions

During Continental AG’s March 7 board meeting the decision was taken to reorganise responsibilities within the company’s Executive Board. As a result, as of April 1 Manfred Wennemer will hand over control of the Passenger and Light Truck Tire division to company CFO Dr. Alan Hippe. At the end of September 2008 Dr. Hippe will also take charge of the ContiTech division, succeeding Gerhard Lerch, who intends to retire and relinquish his seat on the board at this time. Mr. Wennemer will remain responsible for the Interior division.

Dr. Hippe will continue in the capacity of CFO until a successor to the position is appointed. Continental reports that no changes have been made to the responsibilities held by other members of the Executive Board.

10th March 2008/by Tyrepress Editors

Delticom Announces 2-Euro Dividend

Delticom AG achieved 12.3 million euros of consolidated in 2007, meaning pre-tax profits are up 21 per cent year-on-year. The 12.3 million euro EBIT figure is towards the top end of the 12.0 – 12.5 million euro projection the company gave in December 2007; and represents a margin of 5.7 per cent.

According to the preliminary unaudited figures, revenues amounted to 215 million euros, up slightly on the 214 million reported euros on 31 January 2008. Consolidated net income was also up 33 per cent to 8.4 million (previous year: 6.3 million euros).

5th March 2008/by Tyrepress Editors

Bridgestone’s Emkes to Serve on Greif BOD

Bridgestone Americas Holding chairman and CEO Mark Emkes has been appointed to the nine-person board of directors of Delaware based industrial packaging form Greif Inc. Emkes has committed himself to a one-year term on the company’s board.

Greif Inc. has 10,300 employees and in the fiscal year ended October 31, 2007 generated revenue of US$3.32 billion and recorded profit of $156.3 million.

26th February 2008/by Tyrepress Editors

Thatcham BSI Kitemark Celebrates First Year Milestone

The Kitemark scheme – which sets out standards for the crash repair process, including the methods and materials used by competent technicians – is one year old, and the Thatcham BSI Kitemark Vehicle Body Repair team has marked the scheme’s first birthday by hosting a small party at the Thatcham head office in Berkshire. Support for the Kitemark scheme since its introduction in February 2007, the team reports, has been impressive across the entire UK crash repair industry.

26th February 2008/by Tyrepress Editors

WRAP Suggests Using Tyre Rubber in Flooring/Plaster

New flooring screed and plaster products incorporating rubber from recycled tyres are being developed as part of a WRAP (Waste & Resources Action Programme) funded project. The products, are generically known as Rubbercrete. North Yorkshire-based Walltransform has developed the new products in conjunction with a rubber-based top coat which can be used alongside the flooring screed. There is 70 per cent rubber crumb incorporated in the plaster and 30 per cent rubber crumb in the flooring screed. Rubbercrete will also be available in a rapid set mix design, which incorporates 35 per cent rubber crumb and dries within two to three hours.

The Rubbercrete products, for which there is already commercial interest, are currently undergoing the testing required to receive certification from the BBA (British Board of Agrément). This certification will enable the products to be marketed in the UK.

21st February 2008/by Tyrepress Editors

Nokian Annual Results Show Increased Sales & Profits

Nokian Tyres reports that its net sales increased 22.6 per cent during 2007 to 1.025 billion euros. During this period the company recorded an operating profit of 234 million euros, a 52.8 per cent rise on that of the previous year. During the year earnings per share also increased 55.7 per cent from 0.88 euros to 1.37 euros, and profit for the period was 168.9 million euros, up 57.4 per cent from 107.3 million euros a year earlier.

13th February 2008/by Tyrepress Editors