Career Tracks Archives - Page 23 of 39

Apollo Completes Vehicle Dynamics Workshop in Chennai

Indian manufacturer Apollo Tyres has completed its second Vehicle Dynamics Workshop in the southern Indian city of Chennai. Apollo began the Workshop two years ago as a biannual platform for auto and tyre-makers, tyre testing authorities and homologation bodies to discuss vehicle dynamics, its facets, complexities, issues being faced and ways and means of addressing them. The company says the Workshop comes at a time when regulations across the world are being tightened, and both car and tyre makers are actively seeking ways to bring out products, which meet customer needs of safety, fuel efficiency, price and comfort while applying environmentally safe options.

25th February 2010/by Tyrepress Editors

Continental Extends Football Sponsorship with World Cup 2014 Deal

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Continental has extended its sponsorship of international football events with a deal to become the Exclusive Tyre Partner and Official Sponsor of 2014 FIFA World Cup in Brazil. “With preparation for activation of our sponsoring of the 2010 FIFA World Cup in South Africa going ahead at full steam, we have already laid the ground for worldwide marketing communication in the next few years by renewing the FIFA partnership through 2014,” explained Nikolai Setzer, Continental Executive Board member for Passenger and Light Truck Tyres.

24th February 2010/by Tyrepress Editors

Goodyear Pension Plans Underfunded, Magazine Says

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Pensions & Investments magazine reports that Goodyear’s pension plan is badly underfunded, and that the tyremaker will contribute between $275 million and $325 million to its global pension plans in 2010. Goodyear had contributed $430 million to its plans in 2009, the magazine reported.

22nd February 2010/by Tyrepress Editors

Analysts Increase Michelin Share Price Target Following Second Half Results

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In the wake of financial results that Michelin characterised as being “more agile than ever,” financial analysts have raised their price targets for the tyre manufacturer by 7 euros from 29 to 36 euros. The Morgan Stanley analysts wrote in their investors note that they had upped estimates from the 2010 to 2011 earnings per share from 3.15 to 4.30 and 3.90 to 4.76 respectively. At the same time they issues a new 2012 earnings per share prediction of 5.98 euros.

17th February 2010/by Tyrepress Editors

Watts Tyre Group Creates New Latin American Business Unit

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Watts Tyre Group, the UK-based industrial tyre and wheel producer has announced the creation of Watts America Latina, a new business unit to service the Latin American market (excluding Brazil and Mexico where the group has existing business operations). Watts America Latina is headquartered in Montevideo, Uruguay and is headed by director General Carlos Correia. The business services container customers across the region as well as sales from a warehouse operation from which pallet orders can be satisfied enhancing product availability.

11th February 2010/by Tyrepress Editors

Goodyear India Rises to Limit in Mumbai Trading

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Goodyear India Ltd. rose 20 per cent – its daily limit – in Mumbai trading after the company said its parent offered to acquire all outstanding shares for 245 rupees apiece, reports Tire Review. As many as 32,039 equity shares changed hands so far, as compared to a two-week average of 8,569 shares.

9th February 2010/by Tyrepress Editors

Kumho Asiana Group Shares Jump Following Creditor Support

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Messages of support from major creditors such as Korea Development Bank and a restructuring plan have led to shares in the Kumho Asiana Group – which includes Kumho Tire – experiencing a jump of up to 15 per cent in Tuesday trading, say Reuters reports. The state-run bank helped the company to suppress ideas that the Group could be heading for court receivership. The gains outpaced a general improvement of 0.7 per cent in the rest of the market.

9th February 2010/by Tyrepress Editors

Kumho Asiana May Face Court Receivership

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After owners of troubled Kumho Asiana Group rejected a demand by creditors that they offer their stockholdings and assets as collateral for fresh loans, creditors have said all restructuring steps would be put on hold, with some floating the idea that key parts of the group would be put under court receivership, reported the Korea Times.

8th February 2010/by Tyrepress Editors

The Who Play Bridgestone Halftime Show at Super Bowl XLIV

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One of Britain’s oldest surviving (well, at least half of them) rock bands, The Who played the Bridgestone-sponsored halftime show at American Football’s biggest event yesterday. The 10-minute slot has been filled by single bands best described as classic since the infamous “wardrobe malfunction” of 2004’s Super Bowl XXXVIII. Bridgestone has sponsored the show for the past three years, which have featured Tom Petty & the Heartbreakers, Bruce Springsteen and the E Street Band and now The Who’s Pete Townshend and Roger Daltrey. Coverage of the show can be seen below in the embedded video. Before and after the big event, an American Football match broke out, the much-loved New Orleans Saints beating the more fancied Indianapolis Colts 31-17. Bridgestone also displayed its latest adverts amidst the action on the television coverage.

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8th February 2010/by Tyrepress Editors

American Tire Distributors Plans IPO

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North Carolina, US based wholesaler American Tire Distributors Holdings has lodged registration documents with the US Securities and Exchange Commission to initiate proceedings for a proposed initial public offering of its common stock. The company, who claims to be the largest replacement tyre distributor in the United States, intends to list its common stock on the New York Stock Exchange under the symbol "ATD", however it has not yet determined the number of shares to be offered and the price range for the offering.

8th February 2010/by Tyrepress Editors

Hankook Management Target 11 per cent Price

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Hankook Tire’s management are confident they can raise confidence in its ability to their products’ global average selling price by between seven and eight per cent in 2010. According to an investors note published by Deutsche Bank, additional price hikes are possible, with Hankook’s management said to be targeting an 11 per cent increase.

According to the financial analysts, Hankook’s confidence of being able to successfully implement the prices increases is based on the fact that “demand in key markets remain supportive expecting.” In real terms this means managers expect year-on-year sales volume growth of around 14 per cent this year with 100 per cent utilization.

5th February 2010/by Tyrepress Editors

Hankook Reflects on 2009 North American Success, Predicts More for 2010

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After attaining its highest global sales to date in 2009, Tire Review believes Hankook Tire America Corporation has reason to expect more success in 2010. Its report quotes Soo Il Lee, the company’s president, who reflected on last year’s growth and shared Hankook’s goals for the coming year with attendees at the tyre-maker’s dealer meeting, held earlier this week in St Thomas, US Virgin Islands.

4th February 2010/by Tyrepress Editors

Kumho Tire Work-Out Plan Approved by Creditors

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Joongang reports that creditors of Kumho Tire have approved a debt work-out programme. The work-out scheme was proposed by parent company Kumho Asiana Group last week, effectively putting bond payments on hold for the next three months. The next step, the newspaper said, will come as creditors perform due diligence, then lay out and enforce restructuring plans. Creditors of Kumho Tire met at the headquarters of state-run Korea Development Bank, where more than 95 per cent voted in favour of the restructuring.

2nd February 2010/by Tyrepress Editors

Bridgestone Offers Sneak Peek of Super Bowl Ads

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Once again, Bridgestone Americas Tire Operations plans to grab the attention of viewers of Super Bowl XLIV, which airs 7 February on CBS from Dolphin Stadium in Miami, Florida, reports Tire Review. BATO will unveil two new Bridgestone brand tyre commercials during the game, in addition to the brand serving as the title sponsor of the Super Bowl XLIV Halftime Show featuring The Who. The Richards Group, a Dallas-based independent advertising agency, created the 30-second commercials, one of which will run at the end of the first quarter, while the other will air during the third quarter.

29th January 2010/by Tyrepress Editors

Apollo Hosts Three-Day India Conclave

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Earlier this month, Apollo Tyres brought together its high performing business partners for an India conclave, reports Tire Review. Partners qualified for the event by achieving challenging sales targets in the commercial vehicle tyre category in 2009. The initiative, organized under Apollo’s International Marketing Program for exports out of India, was christened “Jai Ho” after one of the Oscar-winning lyrics from the movie Slumdog Millionaire, and literally meaning “may you be victorious.” The reward for this victory was an all-expense-paid, three-day incentive trip to India.

29th January 2010/by Tyrepress Editors

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