Stock Exchange Mostly Friendly
While Toyo shares dropped at the end of April/beginning of May, those of two other Japanese manufacturers, Bridgestone and Yokohama, gained. The share prices of Continental, Cooper, Goodyear and Michelin too.
Based in Japan, Bridgestone Corporation is the world’s largest tyre and rubber company.
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Ghosn Stands By Bridgestone
Product NewsPresident of Nissan Carlos Ghosn has said that the company will continue to use Bridgestone/Firestone as an original equipment tyre supplier.
One Of The “Big Three” Will Lose Volvo Truck Business
Product NewsAs soon as the merger between Volvo and Renault has received final approval from the US competition authority, Volvo will cut down the number of suppliers. It is said that one of the big three (Bridgestone, Michelin and Goodyear), which are suppliers of truck tyres, could lose the business.
Stock Prices: Risers And Divers
Product NewsIn the fourth week of 2000 the share prices of the tyre manufacturers Bridgestone, Continental, Cooper and Goodyear have hit a 52 weeks’ low. In this week alone, Toyo Tyres fell 10%, Bridgestone 6% and Goodyear 5%. Just a week before Toyo had marked an increase of 12% while again Goodyear (-8%), Michelin (-8%) and Cooper (-8%) did not fare so well.
Kenji Shibata Retires
Product NewsKenji Shibata (61), President and Chairman of Bridgestone/Firestone Inc. (BFS) in North America, retired effective June 30, 2000. Corporate duties of the office of President will be assumed by Masatoshi Ono, Chairman and CEO of BFS.
No Production Problems at Firestone
Product NewsInvestigations at Bridgestone/Firestone plants in the US have revealed no major production process problems, according to Yochiro Kaizaki, company president. He also admitted that there may not have been up to standard and that, “the probability of low safety tyres may be higher”. Speaking of the alleged tyre related accidents, Mr. Kaizaki added that, “even with experts involved, it is hard to determine whether it is design, production, driving or car related. If we are asked if the tyres are defective, we can say that legally there are no defects”. In spite of this statement there are signs that Bridgestone/Firestone are preparing to make out of court settlements with alleged victims.
Popular as Ever – the Motorbike
Product NewsThe motorcycle industry started the millennium season on an optimistic note, when the “MOTORRÄDER” Fair at Dortmund opened on 1st March. Not only motorcycle manufacturers showed their new products for the year 2000, but on the total 409 stands in eight exhibition halls clothes, service and accessories were also represented. Figures produced by the German Motorcycle Manufacturers Association (IVM) confirm the abiding popularity of the motorised two-wheeler: The 187,192 new motorcycle registrations are equivalent to 6.4 p.c. growth over 1998. Not least among the accessories one must mention tyres – thus tyre manufacturers also had cause to rejoice. The industry was represented by Bridgestone, Cooper-Avon, Dunlop, Metzeler/Pirelli, Michelin and the Heidenau tyre factory showing their current products, but Continental was absent this time. Some old friends from the service sector had also turned up, among them several local companies but also Stinnes. Maybe “old” is not the right word for Stinnes. After its acquisition (together with Gummi Mayer) by the Danish Viborg group/the British Legal & General Ventures Ltd. the Stinnes/Mayer trade and service enterprises made their Fair début under the same corporate identity. News from the Dortmund show and more about motorbike related topics you can find in the April issue of NEUE REIFENZEITUNG.
Further Step For RubberNetwork.com?
Product NewsThe six tyre manufacturers making up RubberNetwork.com have signed a memorandum of association; a further step in creating the global electronic purchasing marketplace for tyres and rubber, which is on track to be up and running by the year end. The six members are: Continental, Cooper, Goodyear, Michelin, Pirelli and Sumitomo Rubber industries. On the other hand, Bridgestone has left the project. Asked for the reason by NEUE REIFENZEITUNG magazine, Bridgestone Firestone Europe said that a closer examination indicated that the relationship between costs and savings was not as beneficial as was first expected.
New CEO For Bridgestone/Firestone Inc.
Career TracksJohn T. Lampe, Executive Vice President of Bridgestone/Firestone Inc., has been made Chairman, Chief Executive Officer and President of the American company. He joined Bridgestone/Firestone in 1973 and has a wealth of international experience with the company. Lampe succeeds Masatoshi Ono (63), who has been with Bridgestone for 41 years, having spent the last ten years in the US and the last seven as CEO. He immediately announced a three-point action plan with the aim of accelerating the tyre recall, assembling a new management team and creating new methods of collecting and examining performance data. His appointment follows personal intervention in the crisis by Yoichiro Kaizaki, Chief Executive Officer of the parent company Bridgestone Corporation. Fuller details in the November issue of TYRES & ACCESSORIES.
Prototype Wheel By Bridgestone And Topy
Product NewsTyre producer Bridgestone and wheel producer Topy Industries (both Japan) have announced the development of a prototype wheel for automobiles that contains a special rubber between wheel rim and disc to reduce noise and increase comfort.
Turkish Group Sabanci Sells Stake To Toyota
Product NewsThe Turkish conglomerate Sabanci Holding – the group which includes the Brisa joint venture with Bridgestone – has sold a 25% stake in another of its joint venture companies. Sabanci has sold 25% of Toyotasa to its partner Toyota Motor Corporation for US$ 109 m, leaving Sabanci with a stake in the company of almost 25%.
Concentration In Japan: SRI Raises Stake In Ohtsu To 51 Per Cent
Product NewsSumitomo Rubber Industries (SRI) has raised its 41% stake in Ohtsu to 51% and will pay about 30 million Euro. This transaction makes SRI the second biggest tyre manufacturer in Japan after Bridgestone.
Start Of Tyre Production At Bridgestone Poland
Product NewsBridgestone has launched the production of passenger car and light truck tyres in Poland. Right now the factory has a capacity of about two million tyres for passenger cars but in 2001 Bridgestone plans to manufacture three million high performance tyres.
Stock Exchange: Goodyear Is The Loser
Product NewsIn the first week of July Goodyear shares were down, while Bridgestone, Michelin and Toyo Tires were all winners. Only a short time before, at the end of June Goodyear and Michelin shares had gone down as well as car manufacturers Mazda, General Motors, Volkswagen and BMW lost drastically. Mid June almost the same situation: Goodyear going down (this time Bridgestone and Cooper too) leaving only Yokohama as a winner.
Consolidation of Bridgestone/Firestone US Operations
Product NewsJohn Lampe, new CEO at Bridgestone/Firestone USA, has already taken steps to change the way the business operates. Since early 1990 the firm had operated on a decentralised basis with some 21 different operations, these will now be consolidated into four divisions, each reporting directly to John Lampe: U.S. commercial tires, U.S. consumer tires, international tire operations, and manufacturing and technology. “These changes are critical moves in our efforts to begin to restore consumer confidence and revitalise the Firestone brand,” according to John Lampe. Lampe alluded to more changes in the coming weeks, but provided no details.
