You are here: / Company News

Tyre and wheel business news from the segment’s most important companies.

Posts

Conti Opens New Romania R&D Centre

On December 3, a year and a week after its foundation stone was laid, Continental inaugurated a new office building for its Automotive Group R&D centre employees in the Romanian city of Iasi. The 9,000 square metre premises was erected at a cost of around 20 million euros, and will host the research and engineering brains behind all three of the Automotive Group’s divisions: Chassis & Safety, Powertrain, and Interior. Development activities at the new site will range from electronic brake systems and chassis components to hybrid electric drives and body and security as well as infotainment. In total, approximately 450 people are currently employed at the site.

Read more

Related news:

  1. Continental Completes ‘First Step’ of Refinancing Package
  2. Conti to Boost Junior Staff Numbers in 2010
  3. Conti “Well on its Way” with H1 Results
  4. Schaeffler to become public company
/by

Goodyear Produced BioIsoprene Tyres to Feature at UN Conference

Copenhagen is hosting the United Nations Climate Change Conference, and present at the event will be the world's first concept demonstration tyres made with BioIsoprene technology. This breakthrough substance, which replaces a petrochemically produced ingredient used in the manufacture of synthetic rubber with renewable biomass, made its debut in the Danish city in early December. Several tyres, produced in collaboration between Goodyear and industrial biotechnology company Genencor, have been shipped to Copenhagen. One will make appearances at several events during the conference. Others will be displayed in several locations, including at Copenhagen International Airport’s departure lounge through to December 21.

Read more

Related news:

  1. Goodyear Assessing Impact of Venezuelan Currency Devaluation
  2. 2012 plan outlines Bridgestone’s aim to be ‘undisputed no.1’
  3. Michelin partners with US firm to develop renewable isoprene
  4. CTNA Exceeds Environmental Goal in First Year
/by

Surprises Await in Latest Michelin Hong Kong Guide

The second edition of the Michelin Guide Hong Kong Macau, launched November 26, contains information on 205 restaurants in the former British colony and 38 in Macau. In total, the 2010 guide three three-star restaurants, nine two-star establishments and 39 one-star venues – including a premises described by Michelin guide director Jean-Luc Naret as the “most affordable starred restaurant in the world'."

Read more

Related news:

  1. Morgan Stanley: Michelin Revenues to Grow 7% in 2010
  2. US Michelin Prices Set to Rise
  3. The Right Information Changes Everything, ASA Tells Michelin
  4. Conti Names Replacement for “Controversial” Koerfer
/by

Conti Invests to Expand Production Processes in Romania

Continental has announced plans to expand the production process at its Timişoara passenger car and light commercial vehicle tyre facility in Romania. The expansion will centre upon the construction of a new unit for processing the master batch and, adds Conti, will enable the company to have a completely integrated production unit that permits the local processing of raw materials, a feature that will consolidate the company’s tyre business in Romania and increase the plant’s cost competitiveness. The project will involve a “two digit million” amount, Continental adds, and will in the mid-term lead to the creation of around 200 new jobs.

Read more

Related news:

  1. CTNA Exceeds Environmental Goal in First Year
  2. State Funds to Aid in Testing of Canadian Scrap Tyre Technology
  3. Bridgestone Announces Cross-Segment European Price Increase
  4. Dundee plant to benefit from Michelin investment?
/by

Goodyear Chooses CEVA as Logistics Partner in Turkey

Goodyear’s Turkish operation, Goodyear Lastikleri, has selected Ceva Logistics to handle its logistics requirements. Ceva Logistics will provide Full Truck Load (FTL) and Partial (LTL) distribution services from the tyre maker’s factories in Adapazari and Izmit, near Istanbul, to dealers and OEM customers throughout the country. All distribution process will be visible by Goodyear via a web based track and trace system.

Read more

Related news:

  1. Goodyear Adds to US Commercial Tyre Range
  2. Michelin Chooses Damco for Vietnam Logistics
  3. Chinese UHP Tyre Sales Increasing at Twice the Overall Market Rate
  4. Goodyear to redeem $650m in senior notes
/by

Morgan Stanley: Michelin Revenues to Grow 7% in 2010

Although Michelin managing partner Michel Rollier has expressed doubt that the tyre major’s revenues will increase in 2010, other expert opinions differ. Morgan Stanley Research Europe stated on November 24 that “we expect revenue growth of seven per cent – far more optimistic than Michelin management's recent outlook of no growth.” This prediction is even more optimistic than the Bloomberg survey of analysts that netted an average estimate of revenues rising by 4.3 per cent to 15.4 billion euros. To expand on the Morgan Stanley projection, an expected ten per cent volume growth should be partially offset by a three per cent decline in price/mix.

Read more

Related news:

  1. Deutsche Bank Praises European Tyre Makers’ Margins
  2. Michelin Raises European Truck Tyre Prices
  3. Gajah Tunggal profit grows 35% in first quarter
  4. Michelin updates 2015 guidance
/by

Trio of Guides Added to Michelin Library

,

You’d be bonkers not to have noticed the raft of new Michelin guides hitting the bookshelves in November. Earlier in the month we reported the launch of the latest editions for Germany and Switzerland, but in coming days the gastronomic scribes in the Michelin guide team will release three new European tomes.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Why it’s too early to cry tyre-mageddon
  2. Michelin Launches UK Part of New Global Ad Campaign
  3. Michelin to buy Germany’s largest tyre wholesaler
  4. Fintyre platform company acquires Reiff Reifen & Autotechnik
/by

Slowdown in UK Car Production Decline Seen in October

The Society of Motor Manufacturers and Traders report a total of 114,335 new vehicles produced in the UK in October, a 10.1 per cent year-on-year decline. Of this total, 106,400 passenger cars were manufactured, 6.7 per cent less than a year ago, and 7,935 commercial vehicles, a 39.5 per cent decrease compared with October 2008. These figures represent a slowdown in the pace of car output decline, with the month’s shortfall the smallest this year. Commercial vehicle output, however, continues to decline sharply.

Read more

Related news:

  1. UK Production Figures Show Benefit of Scrappage Schemes
  2. UK Car Production Increases for 4th Consecutive Month
  3. SMMT Calls for Extension to Scrappage Scheme
  4. Michelin’s Rickard Acknowledged for Service to Tyre Recovery Sector
/by

MIRA Opens Brussels Office

On November 19, vehicle engineering specialist MIRA announced the opening of a new office in Brussels. This location, says MIRA, will support the growth of its research and development projects within the EU and be better placed to react to Europe’s evolving political landscape and deliver appropriate technology advice to policy makers.

Read more

Related news:

  1. Conti Sees Stagnant Car Production in Europe, US
  2. Conti Extends Asia Region Components JV
  3. Carlyle Group confirms it's buying RAC from Aviva for £1 billion
  4. Trelleborg declares Q2 a ‘strong quarter’
/by

Today is Pirelli Calendar Launch Day

Regardless of whether you view ‘girlie calendars’ as art worthy of prolonged admiration or frown upon the exposure of bare flesh, there’s no denying the influence the Pirelli Calendar – the ‘Cal’ to its friends – has imparted upon the genre. In Pirelli’s own words, the Cal is “the icon of Pirelli's communication. A symbol that for over forty years not only celebrates female beauty, but also celebrates the complexity of an art that has been able to transform itself over time.” This evening, the 2010 edition of the famous wall adornment will be launched in London – bookmark tyrepress.com to ensure you don’t miss our coverage of the prestigious event.

Read more

Related news:

  1. Pirelli Working With Developer on Burton Retail Site Development
  2. Marangoni, Pirelli Sign Truck Tyre Retreading Agreement
  3. Pirelli Tyre Revenues Expected to Increase in Fourth Quarter
  4. Despite Reduced Sales, Pirelli Tyre Records Stronger Profit in 2009
/by

Goodyear Raising North America Prices

As of December 1 prices for Goodyear consumer replacement tyres will go up by as much as six per cent in North America. The company announced these increases are being made in order to offset higher raw materials costs. This is the first Goodyear price increase for this segment since September 2008, when a 10 per cent increase was implemented.

Read more

Related news:

  1. Bridgestone Reports 12% Sales Increase
  2. Hankook Sees Q2 Profits Surge
  3. Sale of Goodyear Latin America agri tyre business completed
  4. Michelin updates 2015 guidance
/by

GPX International to Sell Solid Tyre Business

GPX International Tire Corporation CEO Craig Steinke has announced the company’s entry into a “definitive sale agreement for its Solid Tire business and Starbright manufacturing facility in China”. Steinke states “an investor group will partner with members of the management team to purchase the operations and underlying assets of the Solid Tire business.” The transaction will include the MITL, ITL and Brawler brands, as well as the Gorham, Maine; Red Lion, Pennsylvania; and Hebei, China manufacturing facilities.

Read more

Related news:

  1. Technical Tire Consulting: Performance has it Roots in the Process
  2. Maine Industrial Tire Wins GPX Solid Tyre Bid
  3. Goodyear sells global wire business
  4. Raw material prices drive up Giti Tire Corp profits in H1 2012
/by

Lanxess Results Show Upward Trend

In the third quarter of 2009 Lanxess AG reports delivering a “strong operating performance”, with EBITDA pre exceptionals of 143 million euros. The specialty chemicals company had expected third quarter operating earnings in the vicinity of the 112 million euros earned in the second quarter. EBITDA pre exceptionals were down 26 per cent year-on-year but rose 28 per cent from the second quarter due to an improved macroeconomic environment worldwide, driven by China, as well as savings yielded by the company’s “Challenge09-12” package of measures, which are expected to cut Lanxess’s costs worldwide by about 360 million euros by 2012. Another key performance metric – EBITDA pre exceptionals margin – was 10.4 per cent; higher than the previous quarter and nearly reaching last year’s level.

Read more

Related news:

  1. Goodyear Q2 results 'another step on the path towards 2013 targets'
  2. Despite record sales, Goodyear posts a Q1 loss
  3. Goodyear “On the Right Path” in Second Quarter
  4. ‘Ambitious growth strategy’ paying off as Lanxess profits jump 60% in Q1
/by

Ex Conti CEO Wennemer Quits Opel Trust Board

Former Continental AG CEO Manfred Wennemer’s tenure as one of five Opel Trust board members ended on November 7 following his resignation in protest against political interference over the planned sale of vehicle manufacturer Opel. According to Reuters, while Wennemer’s act of protest against the “constant interference” from German politicians in potentially embarrassing to Berlin, his resignation is however “essentially symbolic” following General Motor’s recent change of mind regarding its European subsidiary.

Read more

Related news:

  1. Continental Completes ‘First Step’ of Refinancing Package
  2. Conti Gives Employees a Cash ‘Thank You’
  3. We’re Back on the Road to Success, Conti Shareholders Told
  4. Profumo resigns from Pirelli BoD
/by

Solideal USA Buys Distributor

Solideal USA has acquired SPW Industries Inc. SPW is an Atlanta-based service provider and distributor of construction and industrial tyres, wheels and rubber tracks. Solideal said SPW’s 13 locations throughout the Southeast will compliment its own service network.

Read more

Related news:

  1. Emrald supplier Totrax announces new web address, seeks network extension
  2. Solideal buys Forklift Tire
  3. Lanxess ‘Confident’ About 2010 Following Strong Q4
  4. Cooper acquires 100% share in Kunshan JV operation
/by

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.