compliance Archives - Page 8 of 11

Performance in Changeable Conditions

The launch of a new tyre often involves an extreme test of the product’s capabilities – a 4×4 tyre may be demonstrated in the desert, a UHP offering on supercars at a racetrack. Pirelli, when introducing its new Winter Sottozero Serie II range, chose a glacier as the site to show off the tyre’s performance when pushed to the limit. And Pirelli didn’t just choose any old glacier – the Winter Sottozero Serie II tests took place high up in the Matterhorn region, so high up in fact that the test cars needed to be shipped in slung 50 metres below a helicopter. The logistics required for arranging the tyre’s launch was astounding, and when the actual day came the weather rewarded Pirelli with conditions that would make even the Yeti consider a quiet evening in.

25th July 2008/by Tyrepress Editors

Goodyear Appoints New Internal Audit VP

Product News

Goodyear has announced the appointment of Richard Pegher to the position of vice president of internal audit. Pegher’s appointment, effective August 1, sees him reporting functionally to the audit committee of the company’s Board of Directors and administratively to executive vice president and CFO Mark Schmitz. In this role, based at the company’s Akron, Ohio headquarters, Pegher will implement audit programs and evaluate risk exposures relating to the company’s governance, operations, financial reporting and information systems.

24th July 2008/by Tyrepress Editors

Goodyear Seeks Exemption From US Recall

Premium, Product News

In spite of determining that some 82,000 tyres produced between 2007 and March 2008 featured sidewall labelling not fully in compliance with US safety standards, Goodyear has petitioned the National Highway Transport Safety Authority (NHTSA) to exempt the products from a recall. The tyres in question incorrectly identify the number of plies in the tread as being ‘3 polyester and 2 steel’ rather than their actual ‘2 polyester and 2 steel’ manufacture, an error Goodyear believes to be inconsequential to vehicle safety as the tyres were correctly manufactured with the intended number of plies.

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1st July 2008/by Tyrepress Editors

Klarius’ ‘Cat’ Development Centre ‘on the Fast Track’

Product News

Klarius has reported that it has strengthened the range of services it offers with the introduction of a Fast Track Cat cell to its industry renowned development centre. The new five-strong team is reportedly able to rapidly develop high quality Catalytic Converters, built to On Board Diagnostic (OBD) compliance within a week, due to a range of well designed, bespoke production methods.

Klarius has been developing and manufacturing catalytic converters since 1993, but since last summer, the company has been overhauling its development processes in order to increase efficiency and productivity by introducing new equipment at its workshop and shortening production process lead-time. According to the company, the end result for its nationwide customer base, is the ability to add a new specification of catalytic converter, from client brief, to design and development, and finally production, ready for supply within a week from request.

6th June 2008/by Tyrepress Editors

Bridgestone Releases Report on Improper Payments Investigation

Product News

Since disclosing on February 12 this year incidents of improper monetary payments to foreign agents, all or a part of which may have been provided to foreign governmental officials, the CEO of Bridgestone Corporation, Mr. Shoshi Arakawa, has directed an ongoing investigation through an ‘Investigation Committee (the ‘committee’) comprised of external attorneys. On the three-month anniversary of the committee’s initial establishment, the company presented its interim report, which is outlined below:

1. Investigation

Since the announcement on February 12, the committee has conducted the investigation ‘vigorously’, says Bridgestone. However, the scope of this investigation is extensive and includes some of the company’s overseas subsidiaries. The subject of the investigation has now expanded to the entirety of Bridgestone’s Industrial Products division. Moreover, since the committee needs to consider not only Japan’s Unfair Competition Act but also the regulations of other countries, this latest report remains an interim report and has not been made final.

28th May 2008/by Tyrepress Editors

Kwik-Fit Fleet Encourages Participation in Road Risk Survey

News

Britain’s largest independent fast-fit operator, Kwik-Fit Fleet, is participating in a major occupational road risk management survey in conjunction with RoadSafe, the organisation responsible for managing the Government’s ‘Driving for Better Business’ programme. The survey was officially launched at the Fleet Business Show at the Business Design Centre, London on April 29. The survey’s aim is to gain information on what actions senior managers with responsibility for fleet operations and the use of privately-owned cars on business have taken to reduce their organisations’ risk exposure in the light of the implementation of the month’s Corporate Manslaughter and Corporate Homicide Act in early April.

Mike Wise, head of Kwik-Fit Fleet, said: “The importance of companies managing occupational road risk has continued to increase in recent years. As a business we undertake hundreds of thousands of safety checks on vehicles and often find that cars and vans are not in tip-top condition. A failure by companies and their employees to ensure a vehicle’s safety-related equipment is in a first-class condition could be the difference between life and death.

30th April 2008/by Tyrepress Editors

Zeon Decides Against Appealing European Fine

Product News

Zeon, the Japanese synthetic rubber manufacturer fined 34.23 million euros by the European Commission for its involvement in price fixing for Nitrile Butadiene Rubber (NBR), has decided not to appeal the Commission’s decision to the Court of First Instance.

“Zeon Corporation has decided that Zeon Corporation and its European subsidiaries, Zeon Europe GmbH, Zeon Chemicals Europe Ltd. will not appeal to the Court of First Instance against the decision by the European Commission dated January 23rd 2008,” said the company in a statement. “Zeon’s board carefully reviewed the decision and made the resolution in all aspects including the costs of long and burdensome litigation for a reduction of the fine.”

26th March 2008/by Tyrepress Editors

Kumho Signs Civil Aviation Agreement with US

Product News

Kumho’s long awaited breakthrough in the area of civil aviation arrived on February 19. That day Kumho Tires CEO Dr Sae Chul Oh visited the US Embassy in Singapore and, on behalf of the South Korean manufacturer, signed a Bilateral Aviation Safety Agreement (BASA) between South Korea and the US. With the signing of this document, the door has been opened for Kumho to supply tyres to civil aircraft that operate in the United States.

27th February 2008/by Tyrepress Editors

Bridgestone – Marine Hose Cease and Desist Orders Arrive

Product News

Bridgestone Corporation announced on February 22 that the previous day it received orders from Japan’s Fair Trade Commission in connection with the sales of marine hose from December, 1999 to May, 2007. The orders directed the company to cease and desist from violating of the Antimonopoly Act and to pay surcharges for violating the Act.

The company states that the group “take these orders seriously,” adding: “We will re-double our efforts to achieve and sustain compliance with all laws to meet our legal and moral requirements so as to recover the confidence of all stakeholders.” Bridgestone says it will review the content of these orders and then determine how best to proceed.

22nd February 2008/by Tyrepress Editors

Bridgestone Announces Senior Management Changes

Product News

On February 19 Bridgestone Corporation announced that its board has approved a number of changes in members of the Board of Directors, Corporate Auditors and Corporate Officers. As of March 1 Kazuo Kakehi, currently Vice President & Senior Officer Responsible for Diversified Products, Industrial Products, Civil Engineering and Building Materials and Equipments will become Vice President & Senior Officer Responsible for Diversified Products, Industrial Products and Construction Materials Division. A number of other changes will take affect on March 27. These are as follows:

20th February 2008/by Tyrepress Editors

Toyo Net Income Muted Despite Healthy Sales

Product News

Toyo Tire & Rubber has released details of business performance for the first three quarters of the financial year ending March 31, 2008. Year on year net sales for the nine months ending December 31, 2007 increased 13 per cent to 272,023 million yen (£1.29 billion), and operating income jumped 55.6 per cent over that earned in the equivalent months of 2006 to 12,951 million yen (£61.3 million). Net income shrank year on year, however, down 18.9 per cent to 6,946 million yen (£32.9 million). This overall net income result reflects the costs incurred through Toyo’s “compliance reporting issue” that was made public in mid-November 2007.

19th February 2008/by Tyrepress Editors

Bridgestone Quits Marine Hose Business due to “Improper Payments”

Product News

According to the content of a statement released by Bridgestone on February 12, the company’s internal inquiry into the now well known international marine hose cartel has uncovered a number of occurrences of what Bridgestone calls “improper monetary payments.” These payments were made to foreign agents, including government officials. Other “possible forms of improper payments” were also reported.

The European Commission, US Department of Justice, the Fair Trade Commission of Japan and other authorities have been investigating Bridgestone Corporation since last May due to suspicions of the company’s involvement in the marine hose cartel. Bridgestone, in its February 12 statement, wishes to clarify that the act of making improper payments to foreign agents, which will possibly be paid to government officers and other customer representatives, is a serious violation of its compliance rules. “Such acts betray the confidence that customers, shareholders and business counterparts have in our company,” declares Bridgestone. “We solemnly apologise for all such acts.”

12th February 2008/by Tyrepress Editors

Advanced ID Launches ‘Life of Tyre’ Programme

Product News

Advanced ID Corporation has announced the launch of two new innovations, one of which is being spearheaded by the company it acquired last year, UK based Pneu-Logic. On January 30 the company stated that it, together with Patch Rubber Company, has launched the industry’s first “guaranteed life of tyre” program. The tyre identification solution, which uses Advanced ID’s UHF RFID Tire Tag and Patch Rubber’s rubber patch technology, will have its public debut at the Truck Maintenance Council 2008 Annual Meeting & Transportation Technology Exhibition in Florida between February 4 and 7.

“Advanced ID and Myers’ Patch Rubber Company are pleased to introduce the world’s first retro-fit UHF tag solution that will remain on the tyre throughout the tyre’s casing life,” said Dan Finch, president and CEO of Advanced ID. “With the recent introduction of Advanced ID’s low cost PR500 UHF tag readers, we are confident that this necessary and affordable solution will take tyre tracking and management to a new level.”

31st January 2008/by Tyrepress Editors

Toyo Releases Findings of Compliance Reporting Investigation

Product News

On January 8 Toyo Tire & Rubber issued its findings from an internal investigation into the company’s urethane-based heat-resistant building construction material business, and announced an action plan to ensure future compliance with all laws, regulations, company policies and rules. The compliance reporting issue in question was made public in November 2007, and its rectification will cost the company as much as £17.52 million.

The investigation was performed by an internal fact-finding committee with oversight by a panel of independent, third party experts. The committee first determined the causes and circumstances that led to this compliance issue, and made recommendations to management on an action plan to eliminate the likelihood of its recurrence. On December 26, the committee made its report to Toyo’s Board of Directors, and to Japan’s Ministry of Land, Infrastructure and Transport.

10th January 2008/by Tyrepress Editors

Hankook: Stopped Subsidy Reports False

Product News

Hankook has flatly denied reports that the Hungarian government has stopped an $820,000 training subsidy, characterizing them as “misinformation.” One company spokesperson told Tyres & Accessories that, while Hankook was perfectly entitled to claim such a subsidy, the Korean manufacturer hadn’t in fact applied for one. Therefore Hankook maintains that the Associated Press’ earlier report that the Hungarian government had stopped an $820,000 training subsidy payment to Hankook Tire Co. due to violations of the country’s labour laws is totally false.

28th November 2007/by Tyrepress Editors

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