Continental Archives - Page 120 of 229 - Tyrepress

Hannover-based Continental AG is a leading automotive supplier and – according to the company – is “the choice of leading car manufacturers, offering award-winning tyres that deliver responsive braking in all weather conditions.”

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Conti “Well on its Way” with H1 Results

In the words of Continental AG’s Executive Board chairman Dr. Elmar Degenhart, the German tyre and automotive systems manufacturer “is well on its way to emerging from the crisis stronger than before.” In particular, the company’s EBIT has developed positively and the EBIT margin exceeded pre-crisis levels during the first half of 2010. “This is also however obvious from our balance sheet, which we have improved substantially since the beginning of the year with the capital increase and the equally successful placement of an initial bond, as announced,” Degenhart added. “With this basis, we are tackling the upcoming tasks brimming with confidence.”

29th July 2010/by Tyrepress Editors

Yokohama HPT Ltd Launches Winter Range in UK

The UK distributor for Yokohama tyres, Yokohama HPT Ltd, has announced it will supply the market with a selection of the company’s W.drive winter tyres; this is the first time Yokohama winter tyres have been available here. Adopted by manufacturers such as Audi, Bentley, Lotus and Mercedes AMG as winter options and recommended by motoring organisations around Europe, the W.drive range is designed to provide grip and safety on snow and ice and allow drivers to maintain control in all conditions.

28th July 2010/by Tyrepress Editors

Conti Scores Bayern Munich Deal

Continental is expanding its football sponsorship with a deal involving one of the world’s best-known teams. Together with majority shareholder the Schaeffler Group, the German tyre and automotive components manufacturer has become sponsoring partner of FC Bayern Munich. Recently the companies and the club signed an agreement that runs until 2015.

26th July 2010/by Tyrepress Editors

Continental, Tanzania Negotiations “Complex”

International News, News

According to Nairobi based news portal The East African, the nation of Tanzania is “struggling” to end the multi-billion dollar General Tyres East Africa (GTEA) partnership brokered with Continental AG in the mid-1990s. The East African states that Continental, 38 per cent shareholder in the venture, has been “feuding with the state” since 2006. The GTEA facility in northern Tanzania has been closed since 2007, with 400 workers locked out.

26th July 2010/by Tyrepress Editors

Schaeffler Announces Asia Expansion Plans

The Schaeffler Group – the German company best known to us for its dealings with Continental – has given news of its plans to carry out further expansion in Asia, an area in which it says localisation is opening up additional opportunities for growth. Investments totalling 300 million euros will be made in this region, including the construction of two factories in China to supplement the existing manufacturing facilities there which are operating at full capacity, and one factory in India. Construction of the new factories is to be completed by 2012. Research and development capacities in Japan and India will be expanded as part of the investment, and production capacity at the company’s eleven existing manufacturing locations (in China, India, Korea and Vietnam) will also be increased.

20th July 2010/by Tyrepress Editors

Cefni Tyres Win Grouptyre, Continental World Cup Promotion

Cefni Tyres of Llangefni, Gwynedd was named the winner of the first prize in the football themed national promotion organised by Grouptyre and Continental during the early stages of the World Cup last month. The retailer received a Sony 46” full HD LCD TV and home cinema system in the promotion, which ran throughout May, and was presented with the prize by its local Grouptyre member Oak Tyres.

19th July 2010/by Tyrepress Editors

Entire Conti US Regional Steer Tyre Range Now SmartWay Verified

Continental Tire the Americas reports that its entire regional steer tyre range has now been added to the US Environmental Protection Agency (EPA) SmartWay Transport Partnership’s list of verified fuel savings technologies with the recent verification Conti's HSR2 (Heavy Steer Regional), HSR1 and HSR truck tyres. This brings the total number of SmartWay verified Conti steer tyres to six. The company also offers three SmartWay verified drive tyres and two trailer tyres.

19th July 2010/by Tyrepress Editors

CGS Extends John Deere OE with Conti Agri Tyres

A number of Continental branded agricultural tyres produced by CGS Tyres have been approved for fitment on several high horsepower John Deere tractors. The Continental tyres will be fitted as original equipment on the 6030/6030 Premium, 7030/7030 Premium, 8R and 9030 series John Deere tractors. CGS comments that its Continental brand agricultural tyres are now available on all John Deere tractors – from 5E series up to the 9030 series.

16th July 2010/by Tyrepress Editors

Paper: Continental Should Sell More Debt Soon

Continental AG should strike while the iron is hot and sell more debt while the market is in a receptive mood. That’s the view of The Wall Street Journal’s Michael Wilson, who explained in an article published today (14 July 2010) that the company needs the money to service its 8.2 billion euro syndicated credit facility, which is due to be repaid in August 2012:

“Since the start of this year, the company has been promising to issue bonds, the proceeds from which will be used to repay the facility. However, volatility in capital markets during the start of this year meant it was only last week that the company felt confident enough to actually launch a deal.”

14th July 2010/by Tyrepress Editors

Ecclestone: F1 Needs Faster Wearing Tyres

Bernie Ecclestone believes faster wearing tyres will make for more exciting racing in Formula One. According to Tire Review, Ecclestone told Italy’s Gazzetta dello Sport he thinks F1 tyres should last no more than 100 kilometres, forcing teams into at least two pit stops. “People want more overtaking," Ecclestone states. “I have a proposal: tyre sets that can be used for a maximum of 100 kilometres, with the one used in qualifying to be used in the first part of the race. This way we'd have more tyre changes at different times and there would be more confusion. The best races are the messy ones.” Ecclestone made no mention that fuel stops have been eliminated from F1 races, removing as many as two pit stops per race.

12th July 2010/by Tyrepress Editors

Conti Reports Successful Eurobond Placement

Continental AG reports its €750 million euro-denominated bond has been successfully placed with qualified investors in Germany and abroad. With this, says Conti, the company has completed a further step in improving its debt maturity profile. The notes have a term of five years and will be issued by Conti-Gummi Finance B.V. and guaranteed by Continental Aktiengesellschaft and certain company subsidiaries. The coupon will be 8.5 per cent, with interest payable semi-annually in arrears.

12th July 2010/by Tyrepress Editors

Continental Shares Rebound on Improved Second Quarter Outlook

Shares in automotive supplier Continental AG “jumped” in response to the company upgrading its predictions for second quarter results on 2 July. While the full audited results for the second quarter and first half of 2010 are not due to be released until 29 July, according to first preliminary figures, unaudited sales for the first half of this year increased by about 38 per cent to approximately 12.5 billion euros compared with 9.063.2 million in 2009. On this basis, adjusted EBIT is expected to amount to at least 1.2 billion euros (2009: 248.8 million).

8th July 2010/by Tyrepress Editors

Russian Tyre Prices to Rise 5 – 10%

The global tendency towards increased tyre prices could also be affecting product costs on the Russian tyre market. According to a poll conducted by Russian website topof.ru, manufacturers “unanimously speak about escalating costs of raw materials, produced both in Russia and abroad.” For companies that import their products from abroad increased transportation costs are said to be a problem. Besides the standard currency fluctuations, tariff rates are reportedly another important factor. The result: “an average delivery costs increase [of] 15 per cent.”

8th July 2010/by Tyrepress Editors

Conti Wins Reifen Innovation Award for Paperless Invoicing System

As well as displaying its impressive range of top-quality products on its large stand in Hall 3 at Reifen 2010, Continental’s customer service was deemed award-worthy by the judges for the Innovation Awards. The German manufacturer received the Award for its new electronic invoicing system that provides improved recording and exchange of invoicing and credit notes between Continental and customers in the tyre field. Paper and postage have both been squeezed out of the process, saving money and preserving the environment. Invoices are transmitted securely to prevent data from being stolen by unauthorized viewers.

Alfredo Mate, head of Continental business development for Germany, Austria and Switzerland, accepted the prize: “We're very pleased that our new e-invoicing system has been a hit with both our customers and the jury, making a convincing argument for eliminating paper and exchanging data electronically. Data security was our overriding concern when we were designing the system, followed by a quick and uncomplicated workflow.”

8th July 2010/by Tyrepress Editors

Conti Promotes ‘Sturdy’ Simex SE65

While Continental’s industrial tyre portfolio doesn’t include any own-name OTR tyres following (Czech Rubber Group CGS currently owns the rights to use this name in the OTR segment), the Conti industrial portfolio does include tyres sold under the Simex brand. According to the company, these have been specifically designed to meet the demands of the port and harbour industry and also for use on earth-moving equipment. The Simex range contains highly competitive products for the construction industry, including the Simex SE65.

Conti represntatives report that Simex demonstrates the quality of its products through the brand's strong presence in the original equipment sector and it is the number one imported tyre in the Chinese port and harbour business. In addition to tyres for port vehicles, such as reach stackers and RTGs (rubber tyre gantries) found at the port/railway/road transport interface, products for use on earth-moving equipment are particularly well-known in Europe. The Simex range boasts “extremely reliable crossply tyres” for applications in construction, mining and excavation and “low usage costs around the world.”

6th July 2010/by Tyrepress Editors