McLaren team principal Martin Whitmarsh, the chairman of the Formula One Teams Association FOTA, told reporters after the Spanish Grand Prix (on 9 May 2010) that as many as six companies are offering to supply tyres to the series. "There are four proposals that appear to be out there and maybe there's another couple as well," he told Reuters, adding: "I think we are running out of time so we are going to have to make a decision quickly.”
Tire Review reports Cooper Tire & Rubber Co. reported net income of $12 million for the quarter ended 31 March, a $33 million improvement from the same period in 2009. Net sales were $754 million, an increase of $183 million, or 32 per cent, from the prior year. Operating profit was $33 million for the quarter, a $49 million improvement compared with a loss of $16 million in 2009, the company said.
As it has for fast-approaching 40 years, the Cooper Tire & Rubber Company announced a quarterly dividend payable June 30, 2010, to stockholders of record at the close of business June 2, 2010. The payout will be 10.5 cents per share on common stock. The payout will mark the 153rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Avon Tyres has announced details of its latest promotion, in which one customer will drive away a classic TVR sportscar. In addition, the brand is offering dealers an incentive to promote the prize draw – for the Avon retail outlet that secures the highest number of customer qualifying entries, Avon is also offering the opportunity to enjoy a TVR Tamora for an entire weekend – 13-16 August, 2010. Avon is giving away four branded watches to each of the three runner-up retail outlets, while the ten runners-up in the consumer draw will each receive a TomTom XL IQ satellite navigation system.
Cooper Tire has launched a new product for small and medium sized family cars, which it claims boasts a reduction in road noise and a longer lifespan than its predecessor. The company states that it has used the latest pitch sequencing technology to create the Cooper CS2, a step to reduce the tyre’s noise levels and provide the quiet running required by the latest EU legislation (otherwise known as s-marking).
Nigel Lewis, currently purchasing director for Avon Tyres in Melksham, will as of June 1 take on the role of managing director of Cooper Tire International Trading Company in Singapore. In this capacity he will be responsible for overseeing the operations of the Singapore buying office and procurement of natural rubber.
Cooper Tire & Rubber has appointed Jon Huffman to the role of director, Pricing and Program Management. In his new position, Huffman will oversee all aspects of pricing, and will also assume responsibility for Cooper's three retail stores in Findlay, Ohio, Texarkana, Arkansas, and Tupelo, Mississippi.
Cooper Avon has moved to correct reports on the BBC website that suggested current Formula One tyre provider Bridgestone would be involved in supplying the tyres for Avon Motorsport. The manufacturer’s representatives told tyrepress.com that this would not be the case; rather that Cooper Avon would use similar logistics providers (for example) to Bridgestone. Should Cooper Avon supply Formula One tyres, it will manufacture them itself.
Cooper Tire stockists are giving customers buying a set of four designated Cooper tyres between 2 April and 15 May the chance to win a trip for four to one of horse racing’s most glamorous events: Ladies Day at Ascot on 17 June. Purchasers of four qualifying tyres from Cooper’s high-performance or 4×4 ranges will be entered into the free draw to win the prize, which includes a full Royal Ascot hospitality package for four people, plus hotel accommodation and £50 worth of betting vouchers. In addition, the retail site providing the most competition entries will also receive a package for two people.
A patented process involving silanes has led to the design and testing of new type of radial tyre. Former University of Cincinnati Engineering Professor Emeritus Wim van Ooij, now chief scientist at the spin-off company he helped set up, filed the patent for the process in the name of the University of Cincinnati in 2004, however until now work on its development has been carried out in secret.
Roger Everson, sales and marketing manager with Avon motorsport, the competition division of Cooper Tire & Rubber Company Europe, has announced he will retire in March, after 27 years working for the company.
Chinese manufacturers produced 654.64 million tyres between January to December in 2009, up 18 per cent compared with 2008. According to data released by the China National Bureau of Statistics (CNBS), 57.19 million tyres were produced in China in December 2009, up 52 per cent compared with the year before. In addition CNBS said synthetic rubber production rose 8.7 per cent to 2.76 million tons during 2009. In December, synthetic rubber output rose 15 per cent compared with the same period last year, reaching 268 thousand tons.
Cooper is looking forward to another season as title-sponsor and tyre-supplier to the British Formula Three Series. The company says that British F3 is one of the world’s most successful championships for aspiring Formula One drivers; with stars including Ayrton Senna, Mika Hakkinen, Jenson Button and Lewis Hamilton all racing in the series on their way to F1, it isn’t difficult to back up that claim. Most recently the last two champions have leapt straight to F1 – 2008 title winner Jaime Alguersuari now races with the Toro Rosso team while last year’s champion, Daniel Ricciardo, has been appointed official reserve driver for both Red Bull Racing and Toro Rosso in 2010.
At Silverstone for the season launch for both series, Cooper Tires’ UK representative Sarah McRoberts stated that the company—sponsored Formula Three and the Avon Tyres British GT championships represent a “great opportunity” for both brands’ extension in the UK. While Cooper was praised for providing great consistency – each brand was involved in their respective championships last year – McRoberts also noted the changes required to the compounds “across all our tyres” following EU legislation requiring clean oils in all road and track products. She said the company would be “aiming again for consistency of performance”.
Tire Review reports that an Iowa jury awarded seven passengers in a deadly 2007 rollover accident some $33 million, finding Cooper Tire & Rubber Co at fault. Seven passengers involved in a deadly van rollover crash near Bondurant won a $33 million verdict Friday from a Polk County jury that blamed a US tyre-maker for the accident.
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