Career Tracks Archives - Page 11 of 39 - Tyrepress

Tyre industry jobs, appointments and personnel-related information.

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Schaeffler Group financials: growth in 1H 2011

The Schaeffler Group says its first six months in 2011 have “set new records in sales and operating results”. The company has grown its net income to 641 million euros in the period, with EBIT rising 20 per cent to 883 million euros and margin at 16.4 per cent. The company expects sales to increase by “at least 10 per cent” and has an EBIT margin target of “more than 13 per cent” for the year. Schaeffler’s sales in the first six months rose by 18 per cent to approximately 5.4 billion euros.

31st August 2011/by Tyrepress Editors

Bridgestone Europe re-certificated to ISO 9001:2008

Bridgestone Europe’s sales companies and warehousing have been re-certificated to ISO 9001:2008. The certification, independently verified by Lloyd’s Register Quality Assurance, requires companies to meet specific quality management system requirements across all business areas.

31st August 2011/by Tyrepress Editors

Government targeting Bosch, Continental, Schaeffler for UK manufacturing investment

The British government is attending the Frankfurt Motor Show with the intention of targeting automotive suppliers such as Bosch, Continental and Schaeffler for discussions on potential investment in UK manufacturing. According to a report published by The Telegraph on 29 August, the government has “drawn up a list of foreign manufacturers that it wants to attract to the UK in order to boost output and help rebalance the economy.” The article continues by explaining that Mark Prisk, minister for manufacturing, will attend the Frankfurt Motor Show (also known as IAA Car) later this month.

30th August 2011/by Tyrepress Editors

Engineers convicted in Goodyear corporate espionage case

A US federal judge has sentenced two former Wyko engineers to four years probation and 150 hours of community service after they were convicted of stealing trade secrets from Goodyear Tire and Rubber Co. in a corporate espionage case that first surfaced in 2009.

26th August 2011/by Tyrepress Editors

Analysts raise Yokohama estimates

Financial analysts have raised their estimates for Yokohama Rubber after reviewing their raw material assumptions. Their rationale is that, “while not as smoothly as peers, Yokohama Rubber is passing costs on to customers, and despite uncertainties (downturn in US/Europe), we expect it to report 30 per cent growth in adjusted full year…earnings on lower raw material prices and full-year contributions from price hikes.”

26th August 2011/by Tyrepress Editors

Why Bridgestone believes its new European structure takes it closer to the market

Career Tracks, UK News

In the final quarter of 2010 Bridgestone announced that it was reorganising its European operation into key “regions“. At the start of 2011, this plan entered its second phase with the establishment of the North Region (consisting of the UK, Denmark, Norway, Finland, Ireland and Sweden). As a direct result of this, there were a number of promotions for executives at the company’s UK headquarters.

On 1 January 2011 John McNaught became North Region managing director with Sam Enya as the North Region deputy managing director and also sales administration director. At the same time John Folliss became North Region commercial sales and marketing director with Andy Lane taking the position of North Region consumer sales and marketing director. Six months into his new role, Tyres & Accessories met with Andy Lane and learnt details of how the company sees the UK and other North Region markets progressing or otherwise this year and how the new approach positions the company to deal with this.

26th August 2011/by Tyrepress Editors

Starco enters Baltic, CIS JV with Tente

Starco has announced that its Eastern Group (SEG) and Tente have established a new joint company, Tente SIA, which will handle sales and support of Tente products in the Baltic States and the CIS region. Tente will be the majority shareholder of the company, which hopes to build on the existing sales and support structure SEG has established in the region since 2005, when the German parent company first sought the support of Starco in its endeavours to establish itself in the region.

23rd August 2011/by Tyrepress Editors

Analysts cut Cooper price target, re-iterate “overweight rating”

The second quarter was tough, but look out for a rebound in the second half of 2011. That’s the view of Morgan Stanley analysts with reference to Cooper Tire’s dramatic recent share performance. Reducing the company’s price target from $30.00 to $27.00, the company re-iterated our overweight rating saying the tyre manufacturer shares offer “compelling value following [the] recent [stock] sell-off.”

19th August 2011/by Tyrepress Editors

Cheng Shin continues growth, stock rating upgraded

Financial analysts have upgraded their view of shares in the Maxxis tyre brand’s manufacturing parent company Cheng Shin Rubber. Describing it as “one of the most successful Taiwan stories in China”; Morgan Stanley gave Cheng Shin the “overweight” rating, raising its earnings per share projections by 1 per cent and 9 per cent for 2011 and 2012 respectively. At the same time the stock’s price target was raise from NT$68.33 to NT$78.3.

19th August 2011/by Tyrepress Editors

Japanese tyre makers avoid share price carnage

Despite the fact that their homeland suffered the combined catastrophe of earthquake and tsunami earlier this year Japanese tyre makers faired surprisingly well at the stock exchange in August at a time when the share prices of virtually all the other tyre majors took a beating. (See “Bloodbath at the stock exchange”).

17th August 2011/by Tyrepress Editors

Yokohama Australia gains ISO 14001

Yokohama Rubber Co., Ltd., has announced that Yokohama Tyre Australia Pty., Ltd. (YTA), its tyre sales company in Australia, obtained ISO 14001 certification on July 25, 2011. YTA began its efforts toward acquisition of certification in August 2010. Its practices were then reviewed by the Australian examination organization SAI Global Limited, and certified. YTA is the second of Yokohama Rubber's overseas tire sales companies to be accredited under ISO 14001, following Yokohama Tire Taiwan Co., Ltd.

11th August 2011/by Tyrepress Editors

Analysts: Cooper 2Q results a ‘big miss'

“We had expected the second quarter to be tough…for Cooper given the weak second industry shipment numbers and adverse mix, but we were surprised by how weak it actually was,” was the stark verdict of analysts in response to Cooper Tire & Rubber’s most recent financials. This is exemplified in the company’s profitability results.

8th August 2011/by Tyrepress Editors

Nokian 1H profits double, sales up 41%

Nokian Tyres reports that the group’s net sales increased by 41.4 per cent to 628.0 million euros during the first six month of 2011 (444.2 million euros in the first half of 2010). Operating profit grew faster still, almost doubling to 165.6 million euros (2010: 82.0 million euros) and earnings per share increased to 1.06 euros (2010: 0.58 euros).

5th August 2011/by Tyrepress Editors

Bloodbath at the stock exchange

The bloodbath at the stock exchange continues, with share prices of all the leading tyre makers falling sharply. The attention grabbing headline news is set-against strong half year figures from all leading tyre manufacturers which range from very good to excellent. And it is more than likely that the industry will set new record figures at the end of the year in terms of turnover and profit, which in normal circumstances virtually guarantees rising share prices. However, for the last 10 days the contrary has been true.

5th August 2011/by Tyrepress Editors

Continental AG manager investigated for Corruption

One of Continental AG’s managers is reportedly under police investigation relating to corruption allegations. Following an article in Germany's Bild newspaper, Bloomberg reported that Frankfurt prosecutor’s office confirmed that such an investigation is underway.

4th August 2011/by Tyrepress Editors