In the US, Toyo Tires has introduced the M157 free-rolling axle tyre for long haul highway operations. The company reports that the M157 is EPA SmartWays verified and features Toyo Tires’ proprietary e-balance technology.
The first quarter of the 2011 financial year saw Yokohama Rubber’s net income shoot up 74 per cent year-on-year to 2,822 million yen (£22.6 million). This sizable increase in income was driven by a 10.2 per cent increase in net sales in the three months to June 30; the company reports net sales of 129,394 million yen (£1.0 billion) during the quarter. This sales increase came mainly through the company’s tyre business, Yokohama Rubber notes. Operating income during the quarter was 4,140 million yen (£33.1 million), a 29.9 per cent decrease.
Euro Car Parts says many garage owners are crying out for a modern automotive parts supplier to open in their area, and thus it has been spoiled for choice when it comes to selecting new regions to enter. The company reports adding two new locations – Oxford and the Rochester area – to its network, and this pair of newcomers will be soon joined by a further two centres.
Bandvulc Tyres suffered a serious fire on Friday 5 August, but the company reports that business is able to continue. According to a statement released by the company, the fire broke out just outside one of its tyre production areas, which spread into the building through the roof. However “damage to production machinery and stock was thankfully a lot less than had been expected,” Bandvulc representatives explained. BBC news reported that more than 40 firefighters spent the night tackling the fire, but no-one was injured.
Following significant investment in 2010 and with plans for strategic diversification and development said to be on target plus “ongoing success in the OEM and aftermarket sectors”, wheel firm Wolfrace reports that “the going is good” and that there is expansion taking place throughout its operation in the UK and Europe.
It seems the “major investment” Wolfrace has put into bolstering staff and the acquisition of some further high quality distribution agreements its paying off. According to marketing manager, Chris Cook, Wolfrace Wheels (UK) Limited is going from strength to strength and can report significant growth in several key industry areas. To give an example, sales in the first half year (to June) were the highest since 2008 with significant improvement on margins
Positive tyre sector demand was seen in Pirelli & C. Spa’s results for the six months ending June 30, 2011. A full 99 per cent of the Italian manufacturer’s group sales are made in the tyre sector and the company reports that results from the first half of the year “demonstrate continuous growth and improvement of all economic indicators.” In particular, a more than doubling of group net profits is attributed to ongoing efficiency programmes and, more significantly, the effectiveness of price mix actions that have seen sales increasingly concentrated in the premium segment, enabling raw material costs to be offset.
Hankook reports that it has received “positive feedback from many blue chip fleets” following the introduction of the e-cube fuel efficiency orientated commercial vehicle tyre range. The e-cube, which was launched in the UK at the end of 2009, is designed to offer low rolling resistance, long mileage and good retreading capability. According to the company, the e-cube also boasts green credentials courtesy of “lower hazardous materials and low rolling noise.” Since its launch it has been trialled by many of the company’s customers and has successfully built a solid reputation for superior quality and value for money.
“In today’s market fleets are constantly looking to lower their transport costs. Hankook appreciates the emphasis placed on this and the need to invest in the development of quality products that also incorporate essential environmental credentials. This led to the introduction of the e-cube commercial vehicle tyre range which we are proud to report is proving popular amongst our customers,” said Tony Lee, managing director of Hankook UK.
Alcoa Wheel Products, which manufactures forged aluminium wheels for trucks, trailers and buses, will be in attendance when Truckfest South West 2011 kicks off on 2 July. To strengthen its position in the UK, Alcoa hired a new UK sales manager in February this year. Crampton brought with him 15 years of experience in the commercial vehicle industry and the company explained that Truckfest South West is a great way for people interested in the company’s products to meet the team.
During the 2011 fiscal year, which in Japan began on April 1, 2010, net sales at Yokohama Rubber increased 11.4 per cent year-on-year to 519.7 billion yen (£3.9 billion); leading this sales growth were tyres and hose, sealant and adhesive products, and the company reports it “reinforced its sales momentum” through successfully implementing price increases that offset the effect of rising raw material costs and the appreciation of the yen. Operating income increased 37.5 per cent to 29.5 billion yen (£223.0 million) and net income grew 21.2 per cent to 13.9 billion yen (£105.1 million).
A new range of type approved catalytic convertors, or CATs for short, has been released by Klarius Group company Klarius Emission Control. The Manchester based company reports the newly-released range is its most extensive ever and says product quality confidence is such that it is offering the range with a lifetime warranty – a move it believes to be a first for the aftermarket. The range includes CATs to fit several thousand vehicles, and Klarius international business development director Paul Hannah describes its key attractiveness to the market as being a combination of good design, competitive price, guaranteed quality and excellent availability.
Cooper Tire & Rubber has reported a net income of US$16 million attributable to Cooper Tire for the quarter ended March 31, 2011, an increase of $4 million from the same period in 2010. Net sales during the quarter amounted to $906 million, an increase of $152 million, or 20 per cent, from the prior year. Operating profit was $32 million for the quarter, a decrease of $1 million from the prior year same quarter. Results during the quarter included an after-tax gain of $3 million related to the acquisition of a controlling interest in Corporacion de Occidente SA de CV. The Company also incurred costs of $4 million during the quarter. The prior year first quarter included restructuring charges of $8 million, and $22 million of increased charges for an adverse verdict in a single products liability case.
In addition to the 300 million yen in donations and aid Bridgestone Corporation pledged on March 14 to help victims of Japan’s earthquake and tsunami, the company reports that its subsidiaries have donated a further 77 million yen (£563,000). Specifically, Bridgestone Europe and Bridgestone Americas have each donated 250,000 euros. On top of this, the tyre maker has donated more than 11 million yen (£80,000) to assist relief efforts following the earthquake in the New Zealand city of Christchurch on February 22. From this, the parent company donated 5 million yen to the New Zealand Red Cross, while Bridgestone Australia and Bridgestone New Zealand donated NZ$100,000 (£47,500) to the same organisation.
At Evonik Industries AG’s financial press conference on March 16, Executive Board chairman Klaus Engel stated 2010 was an “outstanding” year for the chemicals business and reiterated the company’s intention to increase its precipitated silica capacity in Asia and Europe 25 per cent by 2014. “Evonik is more profitable than ever before,” commented Engel as 2010 group sales of 13.3 billion euros were announced – a year-on-year increase of 26 per cent. Evonik notes that a “considerable upturn” in business in the second half of 2009 was followed by “momentum throughout 2010, driven principally by higher demand from Asia and Europe.”
Kumho Asiana Group, parent company of Kumho Tires, has announced it will donate 60 million yen (£473,000) for Japan’s recovery from the earthquake and tsunami damages. The 60 million will be divided equally and given to the three areas in which the company’s Asiana Airlines operates its services, namely Miyaki, Ibaraki and Fukushima. The South Korean company reports that executives and employees of Kumho Asiana Group affiliates voluntarily raised funds to help the Japanese “overcome despair and accelerate the country’s recovery,” and these funds were supplemented by the Group itself.
Expressing it’s the company’s deepest condolences to the victims of the 11 March 2011 earthquake and tsunami, Toyo Tires group has released further details about the how the tragedy has affected its business and what it is doing to ensure the safety of workers.
Despite the fact that Toyo runs a plant in Sendai near the epicentre of the magnitude 8.9 earthquake, the company reports that neither this nor its other manufacturing plants in Japan have been affected by the tsunami, and there has not been any significant earthquake damage to plant building or facilities.
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