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Bridgestone Art Contest Receives Record Entries

It is said that a picture is worth a thousand words. Using this yardstick, Bridgestone has no less than fifty five and a half million safety and environment related words on its hands: the company reports that at least 55,676 European primary school children participated in its “dreams at heArt” children’s drawing contest during 2009, more than 35 per cent more than last year. Children from twenty-five countries – including for the first time the Baltic States, Slovakia and Romania – sent in drawings of their thoughts and aspirations on the theme “Safe Travel in a Greener World”.

22nd June 2009/by Tyrepress Editors

Pirelli Carlisle Shutdown Planned for Late June

A further temporary closure of Pirelli’s Carlisle factory is scheduled for late June. The company reports that reduced demand for tyres in European markets is the reason behind the June 27 to July 1 shutdown.

Production at the Carlisle site had been increased in May in response to anticipated market stabilisation, however company management reports that short-term demand has reached their “optimistic prediction.”

15th June 2009/by Tyrepress Editors

Sibur-Russian Tyres Announces Preliminary 2008 Results

In releasing its preliminary financial results for the 2008 year on June 5, Sibur-Russian Tyres stated that, in spite of “unfavourable trends” during the reporting period, the company’s consolidated revenue – 27.4 billion roubles – did not decrease compared with 2007. The tyre maker further commented that the year’s results were impacted by both increases in raw material costs, beginning in March 2008 and reaching an apex in August, and a decrease in tyre sales during the fourth quarter as a result of the global economic crisis.

8th June 2009/by Tyrepress Editors

Nokian Adds to Forestry Range

Nokian’s forestry tyre product family is growing. New size additions to its Forest Rider line-up, the company reports, are suitable for the very large tractors and forestry machines that are used for harvesting energy wood and constructing and maintaining forest roads. These products also work very well, Nokian adds, on heavy tractors used on contracting sites.

Another new tyre, the Forest King F in size 780/55-26.5, is said to provide greater durability and load-bearing capacity for cut-to-length machinery. Nokian states it is designed for CTL forestry machines and will add much-desired durability and load-bearing capacity for heavy harvesters and forwarders. The new product will replace the Nokian Forest King F size 750/55-26.5.

5th June 2009/by Tyrepress Editors

Totrax Supplying Greckster Industrial Range

For the past three years Boston, Lincolnshire based Totrax Ltd has exclusively distributed the Emrald Greckster range of industrial tyres in the UK. Emrald Greckster, states Totrax’s Industrial business manager Peter Roffey, is India’s leading supplier of resilient tyres, industrial pneumatic and press on band. The Greckster, he continues, is constructed using a unique multi-layer concept that uses the mathematically derived BACUC02T Technology. The Greckster’s design features integrated layers of varying hardness; each of these layers is made to a different formulation, integrating the requisite special properties to the end product. Compounds and designs are carefully selected to meet the diverse requirements of tyres used under exacting work conditions.

5th June 2009/by Tyrepress Editors

Conti Reports Solution to Stöcken Factory ‘Conflict’

The conflict regarding plans to end commercial vehicle tyre production at Continental’s Hanover-Stöcken plant has been resolved, the company reports. Continental management, the IG BCE trade union and employee representatives have reached an agreement on a solution that, in Conti’s words, “makes use of all instruments the labour market provides and opens up prospects for 2010.” The agreement will see the suspension of commercial vehicle tyre production at Stöcken as of the end of 2009, a move supplemented by a number of other measures.

“The package is the result of several rounds of intensive talks that came close to being bro-ken off at a number of points. In the end, however, the two sides moved closer and, against the backdrop of a dogged and complex economic situation, faced up to their responsibility,” said Werner Bischoff of the IG BCE Executive Committee following talks on May 19.

19th May 2009/by Tyrepress Editors

Goodyear Announces Proposed Senior Note Offering

On May 5 Goodyear Tire & Rubber gave word of its intention to initiate a public offering of 7-year senior notes to the aggregate principal amount of approximately US$500 million, subject to market and other customary conditions. The notes, adds Goodyear, will be senior unsecured obligations of the company.

The company reports it intends to use the net proceeds from this offering, together with current cash and cash equivalents and unused availability under its credit facilities, for general corporate purposes, which will include the repayment on or prior to maturity of $500 million in aggregate principal amount of its senior floating rate notes due December 1, 2009. Joint book-running managers for the offering will be J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co.

6th May 2009/by Tyrepress Editors

Auto Industry Slump “Left Scars” on Conti’s Performance

Upon announcing its first quarter 2009 results, Continental AG stated that the slump in worldwide vehicle production has “left scars” on the company’s performance, with consolidated sales dropping “sharply.” The company reports its Automotive Group sales decreased in tandem with market developments, while the decline in Rubber Group sales was much less severe as to aftermarket sector sales account for a larger percentage of business. Despite the recent undertaking of the largest cost reduction programme in the company’s history, the highly negative sales trend helped push EBIT performance into the red.

29th April 2009/by Tyrepress Editors

New CEO/President at Kumho Tire

Kumho Tire has announced the appointment of Jong Ho Kim (J.H. Kim) as its new CEO and president. He will be based at the company’s headquarters in Seoul, South Korea. Mr. Kim has held numerous sales and marketing positions since joining Kumho in 1976 including nine years in the USA, initially as general manager, then managing director and finally as the vice president of sales for the company’s American operations. He then assumed the role of executive vice president of sales and marketing for the parent company back in Korea.

20th April 2009/by Tyrepress Editors

New PCL Wrench ‘Perfect’ for Automotive Applications

Pneumatic Components Ltd has introduced a new half-inch composite impact wrench, and the company says it’s the handiest air tool of its kind. The composite housing on the APP203, says PCL, provides superior comfort with a strong yet lightweight finish, and its compact design provides a soft, ergonomic grip for prolonged usage. As with other products in the PCL Prestige range, the new addition features low vibration, low noise and higher performance, making it suitable for industrial and heavy duty, repetitive work.

15th April 2009/by Tyrepress Editors

MAK to Exhibit at Autopromotec

Wheel manufacturer MAK S.p.A. has announced its intention to exhibit at this year’s Autopromotec, to be held between May 20 and May 24. The company comments that Autopromotec represents a “fundamental appointment” for MAK, as it views the fair as being “the most suitable place and occasion to meet national and international dealers” and to display its most significant wheel designs.

14th April 2009/by Tyrepress Editors

Bridgestone to Boost Capacity at Wuxi, China PCR Factory

In the medium to long term, demand for passenger car radials in China is expected to increase. To meet this growing demand, Bridgestone announced on April 13 that it will increase production capacity at its Bridgestone (Wuxi) Tire Co., Ltd. facility in China’s Jiangsu Province. The company reports that it will receive government funding to facilitate a capacity increase at the five-year-old plant.

14th April 2009/by Tyrepress Editors

Toyo Continues European Website Rollout With Greek Site

Toyo Tires’ rollout of European-language websites continues with the launch of its new Greek site, www.toyotire.gr, at the end of March. The decision to focus on this particular site was taken, says Toyo, as Greek visitors are amongst the most frequent users of the company’s European website despite the country’s relatively small population compared to other European nations and the fact this website is only available in English. The new Greek language site provides information on Toyo’s entire Greek market product, technology and company information plus the latest news.

6th April 2009/by Tyrepress Editors

US Retailer ‘Big 10 Tires’ Files for Chapter 11 Bankruptcy

Southeast US based independent tyre retailer Big 10 Tire Stores has filed for ‘Chapter 11’ bankruptcy protection. In a statement released on April 2, the company said that it has “filed voluntary petitions for reorganisation under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the district of Delaware.”

The company reports it has “adequate cash” to continue paying for the day-to-day goods and services it needs to operate and to serve its customers following the securing of financing from an affiliate of Sun Capital Partners. The petition was filed, Big 10 adds, to improve its capital structure and reduce debt, strengthen its financial and competitive position, and ultimately to get the business back on a growth track. The company says it will operate as usual at its retail locations during the reorganisation period, and will continue to honour all product and service warranties.

3rd April 2009/by Tyrepress Editors

Trelleborg Reports on ‘Turbulent’ 2008

In publishing the Trelleborg Group’s 2008 annual report, company president and CEO Peter Nilsson has commented that Trelleborg faces major challenges, but it can draw strength from its enhanced market positions. “2008 was a turbulent year in many ways,” said Nilsson. “An economic slowdown was anticipated by many, but nobody could foresee how rapid it would be. Following a favourable trend in the first three quarters of 2008, the downturn in the fourth quarter was dramatic.

1st April 2009/by Tyrepress Editors