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Continental Q2 Results Preview

Analysts are predicting that Continental will record strong EBITA growth “in the magnitude of 30 – 35 per cent,” alongside “limited sales growth” when the company reports its second quarter figures tomorrow. “However, this will be nearer 2-3 per cent on a like for like basis due to a particularly strong second quarter in 2004 (i.e. passenger car sales went up 9 per cent in the second quarter of 2004). Due to higher Capex and the full payment of the dividend, we don’t expect any debt reduction in the second quarter. Debt reduction should accelerate in the the third and fourth quarters,” the Deutsche Bank analysts added.

1st August 2005/by Tyrepress Editors

Belshina Continues Tyre Line-Up Modernisation

Belarusian tyre manufacturer, Belshina, is in the process of modernising its truck tyre line-up. According to company reports, there are three new patterns of tubeless, all-steel radial truck tyres out on the market that have been manufactured with new tyre building machines supplied by Matador Machinery.
The “Bel-96” model will be available in 235/75 R 17.5, with the “Bel-118” in 295/80 R 22.5 and “Bel-108” in 275/70 R 22.5

The Republic of Belarus is well-known all over the world as a large producer of mining trucks, tractors and other farm machines. Belshina, or Belarus Tyre Works as it is sometimes called, is the chief supplier of tyres for these machines. Belshina produces over 180 tyre sizes for cars, trucks, mining trucks, road-building machines, electrical vehicles, tractors and farm machines and over 90 per cent of its tyres are radial. There are more than 14,000 workers employed in the factory.

28th July 2005/by Tyrepress Editors

Federal To Debut Complete Motorsport Series

Federal Tire plans to make the most of the opportunity provided by the Tyrexpo Asia exhibition and debut not one, but two complete motorsport series. The range, known collectively as “Federal Motorsport” is made up of the “595 Competition Series” and the “FZ Combat Series.”

In addition, Federal will also unveil the new Couragia M/T all terrain tyre, and the Milanza HZ-I, a brand new Hero brand UHP tyre. The company’s Himalaya WS-I winter product, Couragia S/U, Formoza FD-I and Hero branded 558 and 668 tyres will also be on display. The 595 Competition series has evolved from Federal’s popular SS595. Now the tyre has been renamed as simply the 595 and has spawned three variations, the 595 Drift Competition, 595EVO Street Competition and 595RS Sport Competition.

27th July 2005/by Tyrepress Editors

Terra-S’s Tire-Repair-Kit

Terra-S, located in Owingen, Lake Constance, Germany has developed a modern alternative to the spare wheel to meet the requirements of a modern puncture situation. The practical Tire-Repair-Kit, which contains sealant, a high performance miniature compressor and additional accessories, is designed to replace the spare wheel completely. Terra- S claims the system saves space, fuel and weight provides “much easier puncture-help than a strenuous wheel change.”

The Tire-Repair-Kit is applied by unscrewing the valve using the provided valve remover; the punctured tyre can then be filled with liquid tyre sealant. Once the valve is screwed in again the compressor can inflate the tyre. As the tyre moves the liquid fills the holes, hardening in any punctured areas, the company says.

21st July 2005/by Tyrepress Editors

Supply Direct Gains Sole Distribution Rights

In February 2005 Supply Direct managing director, John Prout, closed an exclusive distribution deal with Chinese equipment manufacturer, Ever Eternal. Now, as a result of “mass demand” Ever Eternal exports its equipment to the UK at an accelerated rate.

Supply Direct’s management team regularly visits China in order to maintain strong relations with the company’s supplier. The most recent visit was in July with product development for the UK market at the top of their agenda. With the company reporting such strong business in the UK, John Prout, hints that expansion into Europe could be the next step.

14th July 2005/by Tyrepress Editors

Hofmann Wins Contract to Supply Fast Fit Ireland

Hofmann, has won the contract to supply Fast Fit Ireland with all of their wheel service equipment requirements. Fast Fit Ireland, who look over the Kwik-Fit depots in the Republic of Ireland last year, are now one of the largest fast-fit chains in Ireland with over 22 depots. All depots have been equipped with “top of the range Hofmann products,” the company reports.

13th July 2005/by Tyrepress Editors

Yokohama Opens Chinese Sealant and Hose Assembly Plants

Yokohama subsidiaries, Yokohama Hamatite, a passenger car sealants supplier, and Yokohama Hoses & Coupling have held a joint opening ceremony of their new Chinese factories. Yokohama Hoses & Coupling (Hangzhou) will start by assembling 2,500 hoses monthly, raising output 10,000 units monthly through 2008. The capital investment for equipment and facilities will total $350,000, the company reports.

1st July 2005/by Tyrepress Editors

Federal Introduces FZ-101 Limited Edition Slick

Federal Tire has expanded its Federal Motorsport line with the introduction of the FZ-101, the first slick tyre in the FZ Combat Series. Exclusively produced in limited numbers for professional use only. Engineers at Federal are reported to have collaborated closely with Japanese racing professionals to deliver a tyre best suited to their needs.

30th June 2005/by Tyrepress Editors

Apollo Tyres’ Vadodara Facility ‘Returning to Normalcy’

Apollo Tyres’ Vadodara is running at normal capacity following more than a week of disruption to its 6000 tyres per day production. The factory had been running at full capacity when at the midnight of 30 May, the leadership of one of the three trade unions declared a strike. Apollo representatives report that such stoppages without prior notice are illegal according to existing labour laws. Furthermore the action was prohibited by an order issued by the Government of Gujarat on 7 June 2005. After this the factory resumed normal operations.

14th June 2005/by Tyrepress Editors

Firestone’s Launches World’s Widest Agricultural Tyre

Firestone has launched what it claims it the world’s widest agricultural tyre. At 1250 millimetres wide, the company reports that the agricultural tyre is a full 200 millimetres wider than the nearest competitor.

30th May 2005/by Tyrepress Editors

Cordenka to Increase Tyre Rayon Production

Cordenka has announced that it will invest 5 million euros in the modernisation of its rayon production facilities in Obernburg. The move is designed to further increase the plant’s capacity for rayon yarns destined for reinforcing (ultra) high-performance car tyres.

In 2004 the company expanded its capacity by 1500 tonnes. Now Cordenka is aiming to expand by a further 1500 tonnes, taking the total capacity to some 32,000 tonnes. The company reports that it would like to make the 40,000 tonne mark in subsequent years.

According to the Cordenka, the ongoing strong demand for rayon tyre yarns has resulted from developments in the field of ultra high-performance tyres and also reflects growing market interest in run flat tyres.

20th May 2005/by Tyrepress Editors

Visteon Reviews Financial Results

Car parts maker Visteon Corp, is to delay publishing its first-quarter earnings report while it sifts through financial records that it suspects might be bogus. The Michigan based company identified errors in costs relating to freight and material surcharges, raising questions about possible “improper conduct by a former senior finance employee” charged with overseeing North American purchasing.

The company reports that up to $31 million in first quarter charges published in first quarter results may need to be restated. Visteon said that its ongoing discussions with former parent company, Ford, won’t be affected by the news.

13th May 2005/by Tyrepress Editors

Continental Pleased with Situation in Czech Republic

Looking back at its decision to operate a plant in the Czech Republic, Continental AG says it is pleased with the situation in the country. The company reports that is plans are on track and it has noticed some real benefits of operating in this area. For example, the elimination of border controls on what used to be the EU frontier has noticeably reduced transport times. What’s more, the paperwork involved and the costs entailed are also said to have been cut. Purchasing is also benefiting from improved material procurement from all of Eastern Europe, the company says. “Continental AG decided in favour of an engagement in the Czech Republic 12 years ago, and thus very early on. This has long since proved to have been a smart move. The EU’s eastward expansion makes the location even more attractive,” said Manfred Wennemer, chairman of Continental’s executive board, on the occasion of Czech president Vaclav Klaus’ visit to the company’s Otrokovice factory.

29th April 2005/by Tyrepress Editors

BBS Sales Up, Earnings Down

Despite tough conditions overall, in 2004 BBS Kraftfahrzeugtechnik AG increased consolidated sales by 1.2 per cent to 190.4 million euros. This rise was exclusively driven by business outside Germany, which expanded 4.3 per cent from 94.6 million euros to 98.6 million euros. Consolidated EBIT fell from 10.5 million euros to 7.2 million, while consolidated net income for the year decreased from 4.4 million to 1.0 million euros.

24th March 2005/by Tyrepress Editors

Goodyear Results Led By Assurance

Goodyear’s Assurance played a key role Goodyear’s recent financial improvements, according to a report in the Akron Beacon journal. Goodyear first rolled out the products a year ago in an effort to generate excitement for its flagship brand.

18th March 2005/by Tyrepress Editors