capacity Archives - Page 85 of 147

Zeus Acquires Liebherr Site

Zeus recently acquired the current offices and workshop complex of Liebherr’s Dortmund plant and equipment services facility. According to company representatives, the move is designed to further Zeus’ global strategic growth programme for large earthmoving, OTR and general industrial tyre filling and puncture proofing solutions.

The new site is located adjacent to Zeus’s main manufacturing plant in Dortmund, Germany. Once the new complex is refurbished and fully equipped, it will add an extra 7,000 square metres of office space, laboratory, manufacturing, distribution and servicing facilities.

4th August 2008/by Tyrepress Editors

BFNT Promotes Handlos to VP Product Development

Product News

Bridgestone Firestone North American Tire (BFNT) has announced that Robert W. Handlos, currently Vice President Materials Development, will be promoted to the newly established position of Vice President, Product Development, effective August 1, 2008. In his new capacity, each of the product development groups located at BFNT’s Technical Center in Akron, Ohio will report to Handlos. Additionally, the Akron-based security function will continue to report to him, and Handlos will continue to hold responsibility for the product development facilities located at the site, as well as the company’s ATW race tyre manufacturing plant. Handlos will report to Yasutaka Enoki, who, as previously announced, will become Executive Vice President, BFNT, on August 1.

31st July 2008/by Tyrepress Editors

Titan Reports Record Sales, Increased Profits in Q2

Product News

Titan International has once again reported all time record sales, this time for the second quarter of 2008. In the three months ending June 30, Titan recorded sales of US$269.1 million, 28 per cent higher than the second quarter 2007 sales of $210.3 million. Net sales were also up for the half-year period; sales of $522.6 million reflected a 20 per cent increase on the $436.6 million recorded in the first half of 200. According to Titan, the record sales levels for the second quarter and first half of 2008 can be attributed to exceptionally strong demand in the company’s agricultural market, which reported higher sales of 50 per cent for the second quarter of 2008 and 38 per cent for the first half of 2008 as compared to the respective 2007 periods.

30th July 2008/by Tyrepress Editors

Phillips Carbon Black Considering Greenfield Facility

Product News

India’s largest carbon black producer, Phillips Carbon Black Ltd, plans to establish a fourth facility and expand capacity at two existing plants, those at Baroda and Durgapur. Following the company’s recent AGM, company chairman Sanjeev Goenka indicated another facility, or alternatively a further acquisition of capacity, may be necessary now that existing capacity at the three factories in fully utilised. This fourth greenfield plant, should the company choose to take this option, may be located either within India or overseas.

29th July 2008/by Tyrepress Editors

Meeting Secures Threatened Jobs at Pirelli Plant in Spain

Product News

A July 21 meeting between Pirelli chairman Marco Tronchetti Provera, management from the company’s tyre manufacturing facility in Manresa, Spain and regional government officials has resulted in a deal that has reportedly secured the jobs of 280 Manresa factory employees.

On July 15 Pirelli issued a statement saying it had decided against building a new plant in the area as a result of unfavourable economic, automotive industry and tyre market conditions in the past 12 months. The company further announced it would instead restructure the current factory, opened in 1924, in order to retain its presence in Spain. This restructuring was to take the form of reducing production capacity and staffing at Manresa by 30 per cent in late 2008, and in future focusing upon higher added value products. At present the factory produces around 42,000 tonnes of passenger car and 4×4 tyres each year.

25th July 2008/by Tyrepress Editors

GITI Tire Boosts Winter Range

Product News

GITI Tire is attempting to improve its foothold on the European winter market, building upon the Champiro range. The company, which is headquartered in Shanghai, China, is a self-styled top quality tyre supplier, and is the largest manufacturer in the booming tyre-producing nation. GITI accesses the European market through its sales and marketing office in The Netherlands.

The Champiro WT-Plus is a high-performance winter tyre for the premium passenger car sector, offering a full silica compound for optimal wet traction and a reduced rolling resistance. The company stresses the additional benefits, which include a directional tread design complete with variable shoulder blocks to increase cornering traction and stability, helping drivers achieve a quiet and comfortable drive; a circumferential centre rib providing optimum stiffness resulting in precise handling in all winter road conditions; and an advanced sipe design, which aids braking and traction properties on ice and snow, thus placing the WT-Plus within the sector addressing harsh winter conditions. The company is clearly confident in the Champiro’s ability to tackle competition in this segment, as it is increasing size options to cover 14 inches to 16 inches; from 185/70 R14 right through to 205/55 R16.

24th July 2008/by Tyrepress Editors

Feel the Force with Maywood

Product News

The Maywood Equipment Group has announced the introduction of a brand new 2 post lift into the UK market. The Force 30 is an electro-hydraulic lift with a base frame. This three tonne capacity lift is manufactured in Europe and available exclusively through Maywood.

“One of the great benefits at Maywood is that we can search Europe for the best possible products,” comments Maywood managing director Trevor Homewood. “We already have the Force 36 and the Force 60 in our range, which have proved highly safe and reliable. We like to buy in Europe as we can be much more certain of continual quality. The Force 30 is exclusive to us and we believe that this lift will become one of our top selling models.”

23rd July 2008/by Tyrepress Editors

USW Members Approve Early Closure of Goodyear’s Tyler Facility

Product News

The Goodyear factory in Tyler, Texas, will close earlier than originally anticipated following a union vote on July 18. United Steelworkers union members have chosen to waive the clause that required the facility, which has been used as a rubber-mixing centre following the end of tyre production in 2007, to remain in operation until after the closure of the company’s plant in Valleyfield, Canada.

22nd July 2008/by Tyrepress Editors

Vredestein Aims for Icy Markets with New Arctrac

Premium, Product News

Last year’s Winter Tyre Review (T&A, September 2007) featured three Vredestein tyres designed to withstand cold weather. The Wintrac Xtreme and its SUV cousin, the Wintrac 4 Xtreme courted the difficult market of the safety and style-conscious, being winter tyres designed in aesthetic partnership with Giugiaro Design – the Italian design engineering firm. The Quatrac 3, on the other hand, had designs on those wishing for the safety features of a cold tyre, but didn’t want the hassle of changing tyres come the chilly season.

This year’s launch is a different animal: leaving aside the convenience and aesthetic concerns of other ranges, the Arctrac is for the committed winter tyre user in truly hostile conditions; a studded tyre with sturdy angular shoulders, whose natural territory is upon the very heavy frosts of countries surrounding the Arctic Circle, such as Canada, Russia and the Scandinavian nations.

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22nd July 2008/by Tyrepress Editors

UPDATE: Pirelli Carlisle Cuts 60 Manufacturing Jobs

News

Following the announcement that its Carlisle plant would be shedding 60 jobs – as reported here on Tuesday – Pirelli has released a statement that it has begun consultation with the site’s senior Union officials. It remarks that, as suggested on Tuesday, the declining price of commodity tyres and identical products made in lower cost countries have led to the necessity to lose 60 employees from the site, taking effect at the end of October 2008.

A spokesman for the company said that “Although difficult for all concerned, this course of action will help safeguard the future of the plant and the Company will strive to minimise the impact on our workforce. On a more positive note, we continue to invest in the Carlisle plant, with the installation of 10 new large presses and the upgrade of some building machines, to increase our capacity in large tyres. Within the next few months we anticipate signing a contract for delivery of a wind turbine, to improve our costs.”

18th July 2008/by Tyrepress Editors

Conti to Make Mount Vernon, Ill. Investment

Product News

Continental’s North American division is ready to pump US$60 million into its Illinois plant spread over the next three years. The money will go towards expanding production capacity on the facility’s passenger, light truck and commercial tyre operations. The German manufacturer will expand its workforce to the tune of 75 new jobs, increasing production by around two million tyres every year.

News sources suggest that the company will spend around two-thirds of the total figure on new machinery and tools for the fabrication of passenger and light truck tyres, while the remaining third will be spent on updating the factory’s commercial tyre building machines.

17th July 2008/by Tyrepress Editors

Ruia Group to Build 4 Billion Rupee Assam Plant

Product News

The Ruia Group of Kolkata, India has revealed plans to local news sources that they are to build a new tyre plant on a Greenfield site near the Lokpriya Gopinath Bordoloi International airport in Guwahati. The site is currently being prepared for industrial development by local government and Ruia looks set to invest heavily, with four billion rupees earmarked for the project in the next year and a half.

The company expects the facility to open with a production capacity of 50 tonnes per day initially. Ruia hopes to double that figure over time.

17th July 2008/by Tyrepress Editors

Continental Rejects ‘Unlawful’ 11.2 billion Euro Schaeffler Takeover

Product News

Continental AG has sharply rejected a 69.37 euros per share (roughly 11.2 billion euros) cash takeover offer from Schaeffler Group, describing it as an “opportunistic approach [that] does not reflect the full value of the company.” Continental AG was officially informed by the Schaeffler Group about its decision to make a takeover offer for the company on Tuesday 14 July and hit out publicly a day later (Wednesday). In a company statement Continental said the offer has “no convincing strategic rationale for a business combination” and that “Schaeffler is trying to achieve control over Continental in an unlawful manner.”

For the first time Continental lent its support to claims that Schaeffler already indirectly controls roughly a third of the company: “According to our analysis, the Schaeffler Group has secured access to 36 per cent of the outstanding capital of Continental in an unlawful manner – with the help of derivative positions and collaborating banks. This would result in a comfortable voting majority at the shareholders meeting and may even lead to a qualified voting majority.” According to the Financial Times, Schaeffler holds 2.97 per cent of Continental’s stock directly and has amassed the right to own an additional 32.95 per cent stake through various options. All of which begs the question, how can Continental fight off what is rapidly becoming the largest hostile takeover bid in Europe this year?

Despite press speculation that the potential takeover may result in the divestment of the tyre business, Schaeffler Group President and CEO, Dr. Jürgen Geißinger said the group’s focus is on combining the strengths of the two companies: “Schaeffler expressly supports the strategy of Continental including its tyre business.” His statement continued: “Schaeffler will not break up Continental AG. The company will continue to be listed on the stock exchange and, if possible, remain in the DAX index. Continental will remain an independent company headquartered in Hanover. No jobs will be lost in conjunction with the transaction.”

16th July 2008/by Tyrepress Editors

Will Conti Be its Own White Knight?

Product News

Speculation about the future of Continental AG ranges from those that see the Schaeffler bid as a done deal, to optimists that believe Conti will be able to fight its corner and hold on to overall control. So what options are available to executives in Hanover? And could Continental come to its own rescue?

Raising the overall Conti stock price is likely to be the primary defence. On this note, sources “close to the matter” told Thomson Financial News that Continental is considering raising fresh capital with the aim of diluting the number of shares Schaeffler owns. Some analysts are speculating that Continental will try to find an investor to counter Schaeffler’s bid, a move that would have the secondary effect of raising Continental’s share price. Another suggestion is that Continental could sell off its ContiTech division and buy back shares for some 2 billion euros, analysts at Chevreux mooted. “First of all, the company has now very limited downside as the share price should not go below 70 euros. That is clearly an asset in these days,” Equinet analyst Tim Schuldt said.

16th July 2008/by Tyrepress Editors

Pirelli Carlisle Cuts 60 Manufacturing Jobs

News

Pirelli’s Carlisle factory, which employs 1,000 workers, is set to cut back 60 jobs from the firm’s operation due to foreign competition and lost orders, say local news sources. The redundancies are to come into effect in the autumn of this year.

Pirelli’s spokesmen have told news sources that the cuts are necessary to ensure the future survival of the large facility. They also stressed that there are no current plans to move out of the factory and that the company is pursuing an ongoing investment plan bringing machine upgrades and increased production capacity to the plant. Talks with the trade union over the redundancies are underway, though union officials declined to comment on news of the job losses.

15th July 2008/by Tyrepress Editors

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