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Yokohama to share China strategy during Auto Shanghai

At the upcoming Auto Shanghai 2011, which runs from April 19 to 28, Yokohama Rubber will hold a press conference outlining its business strategy for China. One part of its plans for the growing market there is the release of the BluEarth eco tyre range; following its recent launch in Japan and Europe, Yokohama Rubber intends to release the line-up in China this autumn. Yokohama says it will use the show to improve recognition of BluEarth within China. During Auto Shanghai the Japanese tyre maker will also publicly announce its activities in collaboration with the China Environmental Protection Foundation.

13th April 2011/by Tyrepress Editors

Autopromotec 2011: Organisers expect ‘excellent attendance by foreign exhibitors’

Just six months before the next edition Autopromotec, which will be held at the Bologna Exhibition Centre from 25 – 29 May 2011, the organisers are saying that the numbers of foreign exhibitors and buyer/dealer delegations confirmed so far are a “clear sign that the Bologna event is in pretty good health.”

To date, the number of exhibitors confirmed for Autopromotec 2011 remains at the record level seen at the last show in 2009, with an outstanding 35 per cent of foreign companies to highlight the increasing internationalisation aspect of the event. The increase in exhibition space seems to demonstrate that those who were there last time will be back. Only this time they are said to be booking larger spaces to increase their visibility in the professional automotive aftermarket sector. Indicators of this type, in a period which cannot be referred to as one of economic stability, are seen as ways the organisation committee has channelled efforts in the right direction.

4th April 2011/by Tyrepress Editors

Bandvulc exports have tripled since 2009

Over the last two years Bandvulc has seen a consistent demand for its commercial retreads within Europe and especially Germany, but lately the pace of export growth has increased significantly. Not only have sales through existing partners increased by over 50 per cent in some countries, but new customers are reported to have been won – and in additional territories too. Key developments include distribution arrangements with agents as far away from South West England as Greece and Poland.

1st April 2011/by Tyrepress Editors

Quentin Wilson: ‘Global driving skills crisis, particularly in the UK’

Goodyear’s apparent ‘safety ambassador’ at the firm's Blimp re-introduction to UK airspace was Quentin Wilson, who voiced support for the company’s efforts to raise road safety awareness in this area.

“Say ‘road safety’ and people reach for the valium,” Wilson said during a press conference at the launch, explaining that motorists have had enough of speed-camera-politics and apparently disingenuous claims that these have delivered safer roads and not just higher revenues.

31st March 2011/by Tyrepress Editors

Goodyear strategises to meet record $1.6 billion operating income target in 2013

Goodyear chairman and CEO Richard J Kramer says that the company has “a clear view of our destination as a business and well-defined strategies for driving value” as it strategises its path back to profit, having posted net losses of $216 million and $375 million in 2010 and 2009 respectively. The company believes that what it terms “seven MegaTrends” over the next five years to a decade will favour its approach, which includes a focus on high-profit segments. The company is holding an investor conference in New York today to discuss how to meet its target of $1.6 billion operating profit – a would-be record for the company – by 2013. The company also announced an operating income target of $450 million in 2013 for the North American Tire segment, as well as improved margins worldwide.

22nd March 2011/by Tyrepress Editors

Evonik net income tripled in 2010; silica capacity expansion underway

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.”

18th March 2011/by Tyrepress Editors

New promotion a ‘Big Deal’, says HiQ

The HiQ fast fit network has launched a new sales campaign aimed at aligning it with many popular high street fashion chains and outlets. Known as the ‘Big Deal’, the promotion will tempt customers with “eye catching offers and discounts.” HiQ's marketing manager Geraldine McGovern says the new retail programme – which gets under way with an MoT programme that runs until the end of April – will “steal a march” on the fast fitter’s competitors.

8th March 2011/by Tyrepress Editors

Conti to support ‘double-digit’ 2011 growth with increased investment

Following a 2010 in which set targets were “clearly surpassed”, Continental AG says it aims to achieve double-digit growth this year. At the company’s Annual Financial Press Conference, held on March 3 in the German city of Frankfurt, CEO Dr. Elmar Degenhart reported a sales growth of almost 30 per cent, to 26 billion euros. This represents record sales for the automotive supplier, a personal best also matched by a record operating result.

3rd March 2011/by Tyrepress Editors

Kwik-Fit: Business as usual for fleet customers

Kwik Fit Group’s fleet division has added its voice to Stapleton’s in saying that, following the tyre retail giant’s takeover by Itochu, it is business as usual. In a press statement the fleet business said: “following the sale agreement it is ‘business as usual’ for fleet and retail customers across its network in the UK as well as in the Netherlands and France where the company also operates.”

3rd March 2011/by Tyrepress Editors

Bioscience boosted rubber production the aim of Bridgestone joint research

Indonesia is the world’s second largest natural rubber producer, with figures from the Association of Natural Rubber Producing Countries putting the number of hectares under cultivation at 3,445,000 and those under tapping at 2,773,000. With an aim of further enhancing this production, Bridgestone Corporation has entered into a cooperative research project agreement with two other parties. News of the project between Bridgestone and the National Institute of Advanced Industrial Science and Technology (AIST) and the Indonesian Agency for the Assessment and Application of Technology (Badan Pengkajian dan Penerapan Teknologi, or BPPT) was announced on February 24 at a press conference held at the BPPT office in Jakarta.

24th February 2011/by Tyrepress Editors

CV market experiencing ‘invasion’ of low cost trucks

The global commercial vehicle market is experiencing a “growing invasion of “low-cost trucks”, according to analysts from Frost & Sullivan. These trucks, mostly from Asian OEMs, are priced approximately 20-25 per cent lower than conventional trucks and are penetrating markets all over the world. In response the analysts are holding a free “European Threats and Opportunities” web conference on 22 February 2011 at 15:00 BST hosted by research analyst, Ryan Carmichael.

16th February 2011/by Tyrepress Editors

Goodyear to announce fourth quarter 2010 financial results

The Goodyear Tire & Rubber Company has announced that it will report fourth quarter 2010 financial results before markets open on Thursday, 10 February, to be followed by an investor conference call at 10:30. Participating will be Richard J Kramer, chairman and chief executive officer, and Darren R Wells, executive vice president and chief financial officer. The company will post its financial information around 45 minutes before the start of the call on its investor relations website. A taped replay will be available later that day by calling (706) 645-9291. The replay will also remain available on the website.

2nd February 2011/by Tyrepress Editors

Cooper to Announce FY2010 Results 25 February

Cooper Tire & Rubber Company says it will announce its fourth-quarter/year-end 2010 financial results before the market opens on Friday, 25 February. A conference call will be held with company management to discuss the results beginning at 11:00 Eastern Standard Time on 25 February. Individuals can access a webcast of the conference call at the investor relations webpage. Replays of the call will be available until Friday, 4 March.

24th January 2011/by Tyrepress Editors

Conti Sales Reach 25.5 Billion Euros in 2010

Signs of a rebound in the automotive industry following the recession can be seen in the latest annual results released by Continental AG. The tyre and vehicle components manufacturer reports sales in excess of 25 billion euros. “On the wings of better than expected business in the last three months of the year, we realised sales of over 25.5 billion euros in 2010,” stated Continental Executive Board chairman Elmar Degenhart at the North American International Auto Show in Detroit. Furthermore, despite an additional 480 million euro year-on-year cost to the company’s Rubber Group due to record high raw material costs, Degenhart said Conti’s adjusted EBIT margin will work out to be around 9.5 per cent for 2010.

11th January 2011/by Tyrepress Editors

Bandvulc Discusses Strategies for the Future at Key Dealer Conference

Before Christmas Bandvulc Tyre Contracts (BTC) the tyre management division of the Bandvulc Group recently hosted a conference for its group of Key Independent dealers working in partnership with BTC. According to the company, the focus of the event was to outline its performance during 2010 and advise of its plans and objectives for next year.

BTC reports that its turnover is already in excess of £30 million and has expansive plans for the year ahead. Opening the conference, Patrick O’Connell, group managing director, welcomed all to the event and outlined corporate plans and concerns with tyre and commodity prices along with stressing the importance of service delivery and maintaining quality in every aspect.

7th January 2011/by Tyrepress Editors