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Apollo, MRF Lower Indian Market Prices

Indian market prices for Apollo Tyres’ products are set to drop by three to five per cent as of January 15, the company reports. The company has not made clear, however, whether these price reductions will be extended to tyres sold in export markets.

Prices have been revised in keeping with a softening of key raw material prices since September 2008, Apollo says. The company adds that since December the cost of both crude oil and natural rubber have resumed their upward trend, and the benefit of lower raw material prices is yet to be felt in the company’s bottom line. Despite this, Apollo states it has decided to take a proactive step in lowering prices for consumers.

15th January 2009/by Tyrepress Editors

Kumho Wins Award for its Aircraft Tyres

Kumho Tires has won a South Korean award for its aircraft tyres. It was bestowed the Minister’s Prize of Knowledge Economy (Award for Excellence) at the ‘2008 Awards and Selection of Top 10 Technologies’ ceremony held in Seoul on December 22, 2008.

San Kim the manager at Kumho’s Airplane Tire Development Team who accepted the award, said “the selection of the airplane tyres of Kumho Tires as one of the top ten new technologies is very meaningful to us. We have contributed to national economic growth by developing the first airline tires for export.”

5th January 2009/by Tyrepress Editors

Goodyear Announces Finance Leadership Changes

Several changes have been made to the senior corporate finance staff at Goodyear Tire & Rubber. The company reports that Damon Audia, formerly vice president and treasurer, has been appointed senior vice president of finance and treasurer. His expanded role includes Goodyear’s investor relations and tax functions.

“Damon has been a key member of Goodyear’s finance organisation over the past four years, and he was particularly instrumental in the execution of the plans to refinance the company over the last several years,” said Goodyear executive vice president and chief financial officer Darren R. Wells. “He has demonstrated the type of leadership we need in this role as we address the challenges of today’s economy.”

15th December 2008/by Tyrepress Editors

Remog Expands Product Range in 2008

This year has been an important one for Remog S.p.a., the company reports. During 2008 it has achieved numerous set objectives, including the introduction of a new high tech facility. As well as expanding its range of wheel balancing weights, Remog has established a new plant in which epoxy powder coating treatments are applied to weights. This facility will supplement operations the company has conducted since 2000, producing products with a 100 per cent coating, certified to 500 hours in salt fog tests.

5th December 2008/by Tyrepress Editors

B.F. SRL Expanding Into New Export Markets

In the area of wheel balancing weights, B.F. srl believes it stands out in terms of its enterprise in researching new weights and solutions to meet all market requirements. The ISO 9001:2000 certified company reports it has made a number of important decisions in recent years, including the creation of a technical department for internal projection, which is capable of designing and manufacturing balancing weight production machinery, along with moulds and all relevant spare components.

4th December 2008/by Tyrepress Editors

Bridgestone to Lay Off more than 150 in US

At least 10 salaried employees and 148 hourly workers at Bridgestone Firestone North American Tire’s LaVergne, Tennessee facility will be laid-off from 21 December. This round of festive season redundancies will shrink the workforce at the passenger car, light truck and truck and bus tyre factory by almost 10 per cent.

2nd December 2008/by Tyrepress Editors

AF Blakemore Chooses Pirelli Truck Tyres

AF Blakemore and Son Ltd has decided to switch tyre suppliers to Pirelli Truck Tyres. Blakemore’s Wholesale, Food Service and Spar Distribution Divisions currently deliver to over 5,255 outlets with a fleet of 350 vehicles ranging from 3.5 to 44 tonnes.

26th November 2008/by Tyrepress Editors

Titan Giant Tyre Production Halted Due to Press Mishap

Titan Tire has temporarily halted production of giant tyres at its Bryan, Ohio facility due to what it says is a pressure issue with one of its 53/80R63 curing presses. A build up and release of pressure from the curing press resulted in building structure damage. Fortunately, reports Titan, there were no serious injuries.

Production of the giant tyre ceased on November 23 and the company reports that it will be approximately 10 to 14 days before it recommences, the time required to undertake necessary repairs. Titan expects that certain repair costs will be covered by insurance.

25th November 2008/by Tyrepress Editors

Yokohama Adds New Company Reports to Website

Yokohama Rubber has posted English language pdf files of its “CSR Report 2008” environmental and corporate responsibility report and “Site Information” report about its Japanese and international facilities on the company’s website. These reports, initially available only in Japanese when released in late September, can be downloaded at http://www.yrc-pressroom.jp/env_en/site01.html.

7th November 2008/by Tyrepress Editors

Michelin North America Announces Agricultural Tyre Price Rise

As of December 1, Michelin North America is increasing prices on Michelin and Kléber brand agricultural and compact line tires and tubes sold in the United States and Canada. The company reports that prices will go up by an average of 11 per cent.

4th November 2008/by Tyrepress Editors

Goodyear Sees Q3 Profits Fall

Goodyear has released its Q3 financial report, showing a drop in quarterly profit. News sources suggest that weak demand in both OE and replacement markets are responsible. However shares are up 14 per cent following the net income announcement, because the quarterly profit of $31 million ($0.13 per share) beat very low expectations. Last year, the company’s net profit for Q3 was at $668 million ($2.75 per share), boosted by the sale of its engineered products division.

The company reports a $19 million operating loss in the North American market, way down from last year’s profit of $66 million. “The tyre industry is facing challenging business conditions as the global financial crisis and slowing economic conditions are impacting consumer demand,” stated Goodyear CEO Robert Keegan. However, there was better news in Latin America and Asia-Pacific regions, where the company’s profits grew.

3rd November 2008/by Tyrepress Editors

Michelin Revises Full Year Targets

Michelin’s financial results for the quarter ending September 30, 2008 show a slight increase in sales during the three month period. However, upon releasing its figures the company also warned that a drop in European and North American demand makes it unlikely that previously set targets will be reached. In July, the Michelin Group based its estimated result of around 8.6 per cent for the full year on the assumption that “second half markets do not worsen beyond estimated levels” forecasted at the time. It now reports the different trends recorded since early October point to a sharper deterioration of demand in most European and North American countries. If this trend is confirmed in November and December, Michelin should post 7 to 7.5 per cent operating margin before non-recurring items for fiscal 2008. The company’s 2007 operating margin stood at 9.8 per cent.

30th October 2008/by Tyrepress Editors

TPCATS: Built to Last

Product News, UK News

Staffordshire based TPCATS specialises in the manufacture of stainless steel manifolds, front pipes and catalytic converters to OE standards. Production to an OE standard of course ensures a high level of quality, and the company comments that its stainless steel products are far more efficient and reliable than ceramic alternatives, yet they are available at comparable prices. And as TPCATS has confidence that its products will not break, rattle or fail an emissions test, it is happy to offer a three-year warranty as standard on its constantly growing range. The result, says TPCATS, is fewer returns, less failures and less hassle for customers. TPCATS boasts a valid warranty claims rate of less than 1 per cent, far below the aftermarket standard of 4 per cent.

7th October 2008/by Chris

Michelin Supporting Audi Mileage Marathon

On October 1 Michelin’s Green X energy saving tyres set out on a 15-day, 4,800 miles journey across America, fitted to Audi clean diesel vehicles. Audi Q5 and Q7 models have been fitted with Michelin Latitude Tour HP tyres, and A4 and A3 cars with Primacy HP tyres for the Audi Mileage Marathon journey, which is been undertaken to increase public awareness of environmentally friendlier automotive equipment and technology.

2nd October 2008/by Tyrepress Editors

Protyre Supporting Tyre Safety Month With Free Tyre Inspections

As recent statistics released by TyreSafe testify, many motorists are ignoring their own safety and that of other road users by not checking the condition of the tyres on their vehicle. To help reverse this dangerous situation, in support of Tyre Safety Month all 31 Protyre outlets in the UK will be offering motorists a free five-point tyre safety check. This free offer can be taken advantage of during the entire campaign, which runs until October 31.

1st October 2008/by Tyrepress Editors