Continental Archives - Page 164 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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Roughly a year ago Southam/Micheldever wholesale director, Alan Baldwin, told Tyres & Accessories that he expected General Tire’s 4×4 range to increase its UK market share by about 10 per cent. A year later, T&A asked if the company’s bold targets had been realised?

In answering that question with a resounding yes, Alan Baldwin explained that his calculations make Southam/Micheldever the largest seller of 4×4 tyres in the UK: “[Southam/Micheldever] had another phenomenal year in 2007…General 4×4 2007 sales grew by 15 per cent over 2006, and [the company] continues to produce the innovative tyre sizes that the very specialized UK market requires…More and more 4×4 tyre specialists and retailers stocking and selling the ever expanding General line up.”

5th March 2008/by Tyrepress Editors

Asian Manufacturers Could Hold 8% of CV Tyre Market in Next 5 years

Herbert Mensching, Continental’s manager Sales and Marketing Commercial Vehicle Tires Europe has predicted that Chinese and other Asian manufacturers could occupy between 6-8 per cent of the European truck and bus replacement market in 5 – 10 years time. Speaking at the recent re-launch of the ContiNetwork group in the UK, Herbert Mensching told Tyres & Accessories that his company was prepared for the “further complications” this may bring to markets like the UK.

Mensching also pointed out that while the numbers of cheap budget products sold in the roughly 1.3 million unit UK CV replacement tyre market has doubled in the last five years (from 100,000 to 200,000 units), these products don’t have the same retreadability properties or whole-life sales and marketing support as premium brands like Continental. With 70 per cent of UK CV casings currently re-used as retreads, this remains a key market factor, he continued.

4th March 2008/by Tyrepress Editors

Conti to Debut Regional Trailer Tyre at CV Show

Continental has announced that it will use the CV Show to mark the European launch of a brand new trailer tyre for regional applications – the 385/65 R22.5. Speaking at the relaunch of ContiNetwork, truck brand manager, Mike Nyren, explained that other product launches include: new steer and drive tyres in 295/80R22.5, 12R22.5 and 11R22.5 sizes for construction or off-road applications. Also on display will be additions to the ContiRe retread range including the new 315/80R22.5 drive tyre for regional applications and 295/80 R22.5 construction drive tyre.

Continental will also show its new Tyre Pressure Monitoring System, the comprehensive tyre management package available from ContiEuroService Fleet Management and the new ContiNetwork dealer network structure.

29th February 2008/by Tyrepress Editors

Moody’s Downgrades Conti’s Long-Term Rating

Moody’s Investors Service has downgraded the long-term rating of Continental AG and its units to ‘Baa2’ following the company’s marked increase in debt and leverage resulting from the 11.4 billion euro acquisition of the Siemens VDO unit. The ratings agency said the downgrade concludes its July 26, 2007 review regarding a possible downgrade following the company’s announcement of the intended acquisition. Moody’s added that the one notch downgrade is in line with its previous announcement of a limited downward revision and takes into account the company’s recent track record of successfully integrating larger acquisitions.

27th February 2008/by Tyrepress Editors

Continental Relaunches ContiNetwork CV Tyre Retail Business

Continental has relaunched its ContiNetwork UK commercial vehicle tyre retail operation. The new-look ContiNetwork numbers 55 members, covering 75 specific territories across the UK. 12 members were lost during the transition period, being replaced by a further 12. According to Continental Tyre Group commercial vehicle sales and marketing director Arthur Gregg, the updated network offers a more balanced offering for dealer partners; and allows the flexibility for dealers to custom-make partner arrangements.

27th February 2008/by Tyrepress Editors

Conti Discusses South Africa Power Saving Programme

At its South African operations Continental Tyre SA has, over the course of three years, introduced a range of schemes that have seen power consumption reduced by 10 per cent. The company recently shared details of its activities in this area.

“To save electricity, we have a production monitoring system in the plant to monitor the energy systems and electricity use so that we can see peak demand, steam consumption and air pressures, for example,” commented plant engineering manager Andrew Singer. “We also have a project to improve the monitoring of incoming voltage, frequency and power usage so that we are consistently aware of the power we are using and its quality.”

22nd February 2008/by Tyrepress Editors

Michelin to Increase Prices in Europe

Rising raw material costs have prompted Michelin to announce price increases for its passenger car, light commercial vehicle, truck and farm tyres in European markets. Car and light commercial tyre prices will rise by 3.5 per cent in most markets, however in the UK and CIS countries these increases will be 7 and 6 per cent respectively – this greater change, reports Michelin, is necessary to offset the negative impact of the local currencies compared to that of the euro.

22nd February 2008/by Tyrepress Editors

2007 Another Record Year for Conti

Continental AG is boasting its sixth consecutive year of record sales and earnings figures in 2007, and the company’s Executive Board chairman has expressed confidence this favourable pattern will continue. “We intend to consistently continue our record streak this year,” said Manfred Wennemer at a press conference on February 21. “Despite the clouds hanging over the economic environment, we are setting clear targets: strengthened by our Siemens VDO acquisition, in 2008 we intend to improve the total calculated sales generated in 2007 of around 26.4 billion euros….With Continental in its traditional setup, we have kept the promises we made. In the new company era, this will not change.”

21st February 2008/by Tyrepress Editors

CTNA on the Move in 2009

Continental Tire North America is moving its corporate headquarters – but not very far. In 2009 the company will relocate about 40 miles south, from Charlotte, North Carolina, to northern Lancaster County, South Carolina, into a US$11 million 7,000 square metre office facility currently under construction. The site will house more than 300 employees.

This announcement was made on February 20, and is a decision that was facilitated by incentives from the state of South Carolina and Lancaster County Council. Continental spokesman Rick Holcomb also referred to South Carolina’s “very proactive business climate” as a reason for the company’s decision.

21st February 2008/by Tyrepress Editors

Conti’s CSEasy Awarded ‘Archie’ for Innovation

Continental’s CSEasy industrial tyre has received the Fork Lift Truck Association’s (FLTA) prestigious innovation award. FLTA members, journalists and end-users selected the design effort of the Continental team, and the company received its award at the ‘Archies’ dinner and prize giving ceremony that took place in Birmingham on February 9.

The tyre is the first of its kind to be fitted with a torque-limiting wrench and to eliminate the need for a mounting press, and as such has brought what many view as a sea change to materials handlings departments. Lower ownership cost during the tyre’s lifespan have been reported for the CSEasy in comparison to standard forklift tyres, through the delivery of higher mileage and lower rolling resistance. Through this last feature energy consumption and CO2 emissions are also reduced with the Continental tyre.

21st February 2008/by Tyrepress Editors

2007 Another Record Year for Conti

Continental AG is boasting its sixth consecutive year of record sales and earnings figures in 2007, and the company’s Executive Board chairman has expressed confidence this favourable pattern will continue. “We intend to consistently continue our record streak this year,” said Manfred Wennemer at a press conference on February 21. “Despite the clouds hanging over the economic environment, we are setting clear targets: strengthened by our Siemens VDO acquisition, in 2008 we intend to improve the total calculated sales generated in 2007 of around 26.4 billion euros….With Continental in its traditional setup, we have kept the promises we made. In the new company era, this will not change.”

21st February 2008/by Tyrepress Editors

European Winter Tyre Slump May Continue in 2008

According to Deutsche Bank’s Equity Research Automotive Group, the dismal year for winter tyres experienced by our German neighbours may well be repeated in 2008. The winter tyre market represents 55 million units, 20 per cent of Europe’s replacement market. Half of these high margin products are sold in Germany, and in 2007 the winter tyre market decreased by 15 per cent, and by a substantial 30 per cent in the fourth quarter alone. As a result, winter tyre pricing is reported to be negative, and both manufacturers and dealers retain substantial stock levels in inventory. This situation is perhaps of particular concern to Germany’s Continental tyre, for which winter tyres represent approximately 17 per cent of passenger car tyre sales.

18th February 2008/by Tyrepress Editors

Nexen to Build US R&D Facility

South Korea’s Nexen Tire plans to open an engineering research and development facility in northeast Ohio, most likely somewhere in the Akron area. The company has hired veteran engineers George Kamvouris and Gary Zolton to start the facility. Kamvouris was most recently with Continental Tire North America, while Zolton comes to Nexen from Denman Tire Corp.

In 2007, Nexen Tire America opened distribution centres in Atlanta, Chicago and Little Ferry, New Jersey, in addition to its existing facility in southern California. The tyremaker also began production at a second plant in Qingdao, China, with planned capacity of 6 million tyres by 2010. The company is considering sites in Ohio, but has not finalised a location. (Tire Review/Akron)

18th February 2008/by Tyrepress Editors

Conti May Eliminate 2,000 VDO Jobs

It appears as if Continental plans to reduce the workforce at its VDO automotive electronic unit by 2,000 jobs. Germany’s Financial Times Deutschland reports that sources within Continental have disclosed that cuts will occur at the recently acquired unit, however the company declined to officially comment to the German financial newspaper.

A reduction of 2,000 jobs includes the 500 job cuts Siemens was considering before the unit’s purchase by Continental. Financial Times Deutschland further commented that, should the details of the cuts be accurate, they might in part allay concerns of the IG Metall trade union, which feared that up to 7,000 jobs may have faced the axe.

15th February 2008/by Tyrepress Editors

Continental to Build Hungary ESC Test Centre

International automotive supplier Continental AG has announced plans to invest 10 million euros in building a new proving ground for ABS and ESC development at its Veszprém, Hungary site. In addition, by 2011, the division will have created around 100 new jobs for skilled workers and engineers at the location.

The new proving grounds for ABS and ESC will comprise high-adhesion, low-adhesion and rough-road test facilities, as well as a specially designed vehicle dynamics facility for applications testing. Building work on the proving grounds is slated for completion by the beginning of 2009.

14th February 2008/by Tyrepress Editors