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Closing Tyler to Save $50 million

Following Goodyear’s announcement that it will close its Tyler, Texas plant by the middle of next year, analysts are estimating that the company will save $50 million after tax. The analysts describe the United Steelworkers’ response as “not surprisingly negative,” adding: “we would expect the Steelworker’s strike against Goodyear to continue.” Goodyear has 12 tyre plants in North America, 8 of which are organized and represented by the Steelworkers. Goodyear’s announcement is consistent with previously announced plans to reduce private label shipments by 8 million. The Tyler plant has capacity of 9 million tyres annually.

1st November 2006/by Tyrepress Editors

Coats Introduces Next Generation of Tyre Changers

With wheels and tyres rapidly getting bigger, heavier and tougher, tyre service is becoming more challenging than it has ever been – and choosing the right equipment is critical. At the SEMA Show 2006, Hennessy Industries unveiled the Coats APX90 tyre as its way of solving today’s tyre changing challenges.

New wheels, both aftermarket and OE, are increasingly large and unwieldy and require delicate care. In addition, mounting and demounting low-profile, high-performance and a variety of run-flat designs can be challenging. According to company representatives, “no matter what kind of assembly, the Coats APX90 was designed to handle any job quickly,” with protection for customers’ wheels in mind.

1st November 2006/by Tyrepress Editors

Titan 3Q Sales 52 per cent Higher, Profits Hit By Taxes

Titan achieved a 52 per cent increase in net sales in third quarter 2006. Net sales were $156.1 million, compared to $102.7 million the year before. Titan recorded gross profit of $17.1 million, a 56 per cent increase when compared to the $11 million of gross profit in third quarter 2005. However, a 40 per cent tax rate in 2006 meant Titan recorded third quarter net income of $0.5 million, compared to last year’s third quarter net income of $1.2 million. Using a 40 per cent tax rate on last year’s pre-tax income, Titan’s third quarter 2005 net income would have been $0.2 million.

31st October 2006/by Tyrepress Editors

Goodyear Texas Factory To Close

The Goodyear Tire & Rubber Company has announced the forthcoming closure of its tyre manufacturing facility in Tyler, Texas, as part of the company’s previously announced strategy to exit certain segments of the private label tyre business. When it made the private label announcement in June, Goodyear said that the decision would require a corresponding reduction in North American Tire’s manufacturing capacity and that plant performance, capabilities, cost savings opportunity and the focus on serving NAT customers would dictate capacity reduction.

30th October 2006/by Tyrepress Editors

Kumho Breaks Ground On Vietnam Plant

Kumho Tires Co. has begun construction on a tyre plant in Vietnam in a bid to corner the fast-growing Southeast Asian market. The company said it would invest US$155 million into the new plant in Ho Chi Minh City, Vietnam’s economic hub, by early 2008. Kumho plans to increase its annual output by 3.15 million units through the investment. The company currently has a total global production capacity of 51 million units.

24th October 2006/by Tyrepress Editors

Tribatyre To Expand

Tribatyre is a Dutch-based organisation specialising in the import and export and wholesaling of tyres and wheels for the agricultural, industrial, forestry and other “slow traffic” markets worldwide. The combination of a large stock, 10000 m² warehousing and an efficient organisation enables delivery within Benelux and most of Germany within 24 hours. Delivery time elsewhere in Europe is usually within 48 hours.

19th October 2006/by Tyrepress Editors

Alcoa Increases Dura-Bright Wheel Capacity

Alcoa Wheel Products has announced that it will install a new Dura-Bright line at its manufacturing facility in Székesfehérvár, Hungary. The new line will be the third such facility and will provide a significant addition in wheel capacity. Both passenger car and commercial vehicle wheels will be processed through this new line in Hungary. The new facility will begin producing Dura-Bright XBR wheels in 2008.

10th October 2006/by Tyrepress Editors

Mahle Relocates UK Head Office

The UK subsidiary of the international Mahle group has completed the re-organisation of warehousing and administration functions, gearing up for further expansion in the aftermarket. The first phase took place late last year with a new, £2.5 million warehouse opening at Salisbury, doubling storage capacity to 40,000 square feet. Now, Mahle Filter Systems UK has relocated its administration to new offices at Oldbury in the West Midlands, in a 2,700 square feet building centrally located close to junction 2 of the M5.

6th October 2006/by Tyrepress Editors

Bridgestone To Double Aircraft Radial Production

Bridgestone Corporation has announced that it will begin production of radial tyres for aircraft at its Tokyo Plant. To date, production for new radial aircraft tyres has been undertaken only at the Kurume Plant, and Bridgestone will introduce a second site to increase capacity in line for meeting global demand growth and thus to ensure supply risk management. Through this move, Bridgestone’s production capacity for radial aircraft tyres by 2011 will be double the current level. Bridgestone plans to start production at the Tokyo Plant in the second half of 2008. Total investment earmarked for the project is around five billion Yen (33.5 million euros).

6th October 2006/by Tyrepress Editors

Yellow Sea to Launch PC Tyres in Europe

Up till now the Qingdao Yellow Sea Tyre Factory hasn’t sold its radial passenger car tyres on the European market. The company was founded in 1986 and currently produces about 1.5 million tyres, 600,000 of which are radial PC tyres. These tyres are imported, says sales and operation manager Tao Rung Wu. But because the company has not yet received an E-mark for its products, it has been impossible to export these products into Europe. This will change in the near future, Mr Tao asserts. In this context Yellow Sea Tyre is announcing the expansion of its production capacity from 600,000 radial PC tyres to about 1.5 million units from next March when they will also get their products E-marked. Right now the company has “very limited capacity”. It is not yet clear yet how this capacity increase might interfere with the limited number of radial PC tread patters (four) and dimensions between 13 and 16 inches.

3rd October 2006/by Tyrepress Editors

Qizhou Rubber Focuses on OTR Tyres and Retreading

After the company was founded in 1998, the Qingdao Qizhou Rubber Co., Ltd. has developed and produced various kinds of commercial tyres. Now it seems the company is going in a new direction and will specialise more in its OTR tyre business.

2nd October 2006/by Tyrepress Editors

Goodtyre Presses Forward Into Europe

International News, Product News

Although the domestic Chinese tyre market is growing at an enormous rate, export markets are also offering an ever more tempting business opportunity for tyre manufacturers from China. In light of major production over-capacities in particular in the PC tyre segment European and American tyre markets almost assure profitable and relatively easy growth perspectives to Chinese tyre companies. The Yinbao Tyre Group for example is one company that is currently adjusting its own growth strategy towards a more international standing. The company is based in the city of Shouguang in Shandong province. Export manager Sino He explains that the company, which was founded in 1994 has sold its truck, OTR and industrial tyres on the domestic market until very recently. It is offering the tyre brands Goodtyre, Yinbao and Huibao.

2nd October 2006/by Tyrepress Editors

Eurotire Manufacturer Goes European

With a name like Eurotire it might sound surprising that Eurotire Inc has barely been present in the Western European market before now, despite having production capacity on the continent. However, Eurotire Inc. (which shouldn’t be mistaken for the Dutch tyre wholesaler Euro-Tyre) operates its trading operations from an office in Chicago (Illinois/USA), manufacturing its OTR tyres in a factory in the Ukrainian city of Dnipropetrovsk. The company was founded in 2001 but didn’t sell its first OTR tyres with the Eurotire brand name until 2005.

2nd October 2006/by Tyrepress Editors

Tyre Recycling Technology Successfully Tested in Wales

A new tyre recycling technology has been successfully tested in North Wales, leading to suggestions a new commercial-scale recycling plant will open next year. Used Tyre Distillation Research Ltd told letsrecycle.com it has opened a fully functioning pilot plant to demonstrate its new processing technology at Ruabon, near Wrexham. According to the report, plans to purchase equipment have already been made, which could scale the pilot plant at up to 17,000 tonnes annual capacity. There are also said to be hopes of developing further plants in the UK and abroad.

29th September 2006/by Tyrepress Editors

Cooper Sheds 500 Jobs at Texarkana

Cooper has notified workers at the company’s Texarkana plant of its intention to cut 400 – 500 jobs, switching the factory to a “flex” facility. Local newspapers are reporting that the factory will go to a “five-day, three-crew schedule during the second quarter of 2007.” As a result production is expected to drop 30 per cent. Production will then be decreased a further 15 per cent in 2008.

25th September 2006/by Tyrepress Editors