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Goodyear On Track To Break Even

Goodyear is “more or less on track…to come in around breakeven” during the first quarter of 2005, Deutsche Bank analysts have reported. The analysts went on to say that they foresee a modest profit ($0.05 per share) in the second quarter, while maintaining their $10 target sell rating. The market watchers suggest that Goodyear’s new $3.2 billion credit facility ($2 billion of which has already been used) has “bought the company enough time to turn its tyre business around. However, there was caution. The analysts warned that competition from America and Eastern Europe present challenges for the company, as do declining military revenues and lower auto production levels. In addition, competitors appear to be outpacing Goodyear’s efforts to shift to low cost markets, they concluded.

18th April 2005/by Tyrepress Editors

And Then There Were Three

The live finals of the Top Technician 2005 competition were held at the Automotive Trade Show last week. The event saw 12 finalists competing in three challenges under the eyes of ReMIT assessors Terence Smith and Melvyn Morgan and chairman of judges, Dave Garratt.

The three finalists were Clive Atthowe AMIMI, of Clive Atthowe Tuning, Iain Kershaw MIMI, of Volkswagen Commercial Vehicles and John Tinham CAE AMIMI, of John Tinham Motor Engineer. They will each go forward to the award ceremony, which takes place in London next month, but only one can win the £2000 cash prize.

“The level of skill and knowledge exhibited by finalists was incredible and marks were very high across all twelve,” said Dave Garratt.

13th April 2005/by Tyrepress Editors

No Control Tyre in F1

The FIA World Motor Sport Council has released an official statement confirming that there will be no rule changes in Formula 1 until 2008, according to Adrivo Sportpresse.

A control tyre will not be introduced in F1 before the end of 2007 stated the press release.

Bridgestone received the news well, commenting that the absence of a control tyre keeps healthy competition thriving between the tyre manufacturers.

31st March 2005/by Tyrepress Editors

Win with UK Equipment

John Bean is offering visitors to the ATS/CV show the chance to win a GPS satellite navigation system. In association with UK Equipment Group John Bean will be running a ‘3D Alignment Time Trial’ where, the person who aligns the car in the shortest time wins the system.

Competitors will be using the Visualiner 3D Arago, which the company says is one of the fastest alignment systems on the market. The system uses 3D digital imaging technology, and does not require run-out compensation or levelling of the measuring targets. It’s Windows XP software guides the operator through the measuring procedure and provides full alignment readings within four minutes says UK Equipment Group.

30th March 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

Win The 15,000th Hofmann Wheel Balancer

Quality comes at a price, or so they say. However, Hofmann is offering visitors to the Brityrex show a once in a lifetime opportunity to win quality for free! Visitors to the Hofmann stand (M7) can enter a free competition to win a Geodyna 4801 computerised wheel balancer worth over £3,000.

24th March 2005/by Tyrepress Editors

The UK’s Top Technicians Step Up

The tension is rising for the 12 potential ‘Top Technicians’ who will battle it out at next month’s Automotive Trade Show.

Once named, the winner will be able to choose from a wide variety of prizes, including holidays, VIP tickets, motor sport events, tools, equipment or formal training opportunities.

21st March 2005/by Tyrepress Editors

Watts Wins Two FLTA Awards

Watts Industrial Tyres has won two of the Fork Lift Truck Association’s (FLTA) Annual Awards for Excellence. Watts Industrial Tyres received the ‘Environment’ award, which recognises the progress Watts has made in the difficult field of ‘Solid’ tyre recycling. Watts now has a number of programmes in place that enable its tyres to be either ‘Remoulded’ or processed into ‘rubber mulch’ for equestrian and playground use and also into rubber crumb to be re-manufactured into a variety of rubber products.

17th March 2005/by Tyrepress Editors

UK Fulda Challenge Team Return from the Arctic

The UK’s Fulda Challenge team is back on home soil after competing in the annual arctic adventure; unfortunately the outcome was not one they had predicted.

28th February 2005/by Tyrepress Editors

Hankook Becomes US Touring Car Championship Sponsor

Hankook Tire America Corp has signed a three-year agreement making Hankook the official sponsor of the Hankook US Touring Car Championship (USTCC) race series until the end of 2007. According to a Tire Review report, under the agreement, Hankook’s Ventus RSS Z211 R-Compound racing tyres will be the control tyres for the 2005-series racing event. In addition, the tyre company’s logo will be prominently displayed at each racing venue and on competitors’ vehicles.

“Hankook is dedicated to expanding our motorsports activities, both as a demonstration of our technology, as well as our brand-building marketing campaign,” said Choi. “We look forward to a productive relationship with the USTCC — and to excellent competition over the next three years,” commented J W Choi, president and CEO of Hankook.

25th February 2005/by Tyrepress Editors

‘Breakthrough period’ for Matador

“Matador Group has completed another successful year,” said company spokesperson, Dušan Koblišek in a statement about its 2004 activities.

Describing Matador’s acquisitions and its move into the automotive supply segment as “a breakthrough period in the history of our company,” he went onto explain that the group’s initial consolidated results recorded a profit before tax of SKK 388 million (£7 million).

17th February 2005/by Tyrepress Editors

£1000 Prize For Smithfield Competition Winner

Goodyear has presented Richard Lamb of Home Farm in Rutland with a £1000 farm tyre voucher. Mr Lamb received the prize after being randomly picked from over 3000 entries at December’s Smithfield Show. Goodyear returned to the Smithfield Show last year showing off their newly completed Optitrac range. As Smithfield visitors viewed the range their passes were scanned and they were automatically entered into the prize draw. In the last five years Goodyear has introduced six new products.

Andy Morris, director of farm for Goodyear said: “The Smithfield Show was a great end to a great year for Goodyear farm tyres. We had a fantastic response to the stand and over 3,000 entries into the prize draw.” Richard Lamb, an arable farmer who grows sugar beat, winter barley, winter wheat, peas and linseed was delighted to win. “I couldn’t remember entering the competition so was totally surprised – I actually thought it was a hoax,” he said. “I always travel down to the Smithfield Show and enjoy it but to win £1,000 worth of Goodyear tyres as well is fantastic.”

14th February 2005/by Tyrepress Editors

Only One F1 Tyre Supplier?

Formula 1 could soon become a single manufacturer series, the BBC has reported. Max Mosely has said that he is “strongly in favour” of the move, according to the minutes of a high level meeting the BBC claims to have seen. Mr Mosley, the FIA president, is said to have agreed with Ferrari, the only other team at the meeting, to discuss the idea with F1’s tyre suppliers. Ferrari also backed the idea of a significant reduction in testing as part of proposals to cut costs. The issue of rising costs and how to keep them under control has caused a split between Ferrari and the other nine teams, who refused to attend the meeting last week.

3rd February 2005/by Tyrepress Editors

Fulda Challenge: UK Team in Car Accident

Following a successful second day the UK team, Emmie Gribble and Richard Jackson, were involved in a car accident on the Alaska Highway. Travelling back to their base in Whitehorse from the Kanu-Downhill Carcross Desert, their Toyota RAV4 was involved in a collision with another vehicle. After being taken to hospital Richard Jackson was released after a check up. Emmie Gribble however was less fortunate. She remains in hospital with a broken arm and rib, and a lacerated lung. Doctors say she is doing fine.

3rd February 2005/by Tyrepress Editors

Will F1 Lose a Tyre Supplier?

The FIA is still deliberating over whether or not to adopt just one tyre supplier for future Formula One series’ according to reports from Autosport magazine.

The association’s president, Max Mosley suggested the change in an effort to cut the F1 teams’ costs, saying that too much of the teams’ budget is spent on testing new compounds.

27th January 2005/by Tyrepress Editors