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Pirelli Launches 4×4 Dealer Award

Pirelli has introduced a 4×4 dealer of the Year Award which will judged businesses on key areas of 4×4 tyre customer service. Each 4×4 Key Dealer Club member will be “mystery shopped” once a quarter by an independent agency in order to ensure regular assessment of credentials. The announcement follows the launch of the Pirelli Performance Centre of the Year Award for Pirelli’s UHP focused network in 2006. Pirelli will announce the winner of the inaugural 4×4 Key Dealer of the year award in December.

Pirelli established its 4×4 Key Dealer Club 11 years ago in response to demand from this unique segment of the tyre market. Initially consisting of four members, the network of 4×4 specialist dealers now stands at 14 members who cover 100 points of sale. All member companies offer end users specialist advice on 4×4 tyre related matters and are required to stock a range of key Pirelli 4×4 fitments.

8th May 2009/by Tyrepress Editors

Goodyear Announces Proposed Senior Note Offering

On May 5 Goodyear Tire & Rubber gave word of its intention to initiate a public offering of 7-year senior notes to the aggregate principal amount of approximately US$500 million, subject to market and other customary conditions. The notes, adds Goodyear, will be senior unsecured obligations of the company.

The company reports it intends to use the net proceeds from this offering, together with current cash and cash equivalents and unused availability under its credit facilities, for general corporate purposes, which will include the repayment on or prior to maturity of $500 million in aggregate principal amount of its senior floating rate notes due December 1, 2009. Joint book-running managers for the offering will be J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co.

6th May 2009/by Tyrepress Editors

Snap-On’s Pinchuk Takes on Third Office

The board of directors at Snap-On Incorporated have elected current company president and CEO Nicholas T. Pinchuk to the position of chairman. Pinchuk succeeds Jack D. Michaels, who is leaving the Snap-on board of upon the expiration of his term on April 23, 2009.

“We are extremely pleased to have Nick as Snap-on’s chairman, president and chief executive officer, and look forward to him continuing to build on the foundation he has laid during his past seven years with the company,” said W. Dudley Lehman, chairman of the company’s Corporate Governance & Nominating Committee. “Nick’s election as chairman is a further indication of the board’s confidence in his leadership.”

29th April 2009/by Tyrepress Editors

Indian Govt Ponders PCR Duty

India’s government intends to introduce import duties for passenger car radials in an attempt to protect the domestic industry against the growing quantities of the product being shipped into the country. According to an anonymous official, the Directorate General of Safeguards, a section of the national Revenue Department, is examining an industry filed complaint. Tyre manufacturers allege that the sharp increase in imports over the past year is causing them harm. A formal case is likely to be initiated by the Director General of Safeguards.

24th April 2009/by Tyrepress Editors

Bridgestone Chooses not to Appeal Cartel Fine

On January 28, Bridgestone Corporation (BSJ) and its UK subsidiary, Bridgestone Industrial Ltd. received notice from the European Commission regarding a 58.5 million euro fine for the company’s alleged participation in an international marine hose cartel. BSJ reported on April 16 that, after careful consideration, it has decided the most appropriate action for it to take is to bring the course of proceedings to an end and focus upon the “reinforcement of its compliance system and promotion of preventive measures.” Therefore, BSJ confirms it will pay the imposed fine rather than appeal the decision.

16th April 2009/by Tyrepress Editors

European Market to Shrink 10% This Year – Gori

In an interview with Italy’s Il Giornale newspaper, Pirelli CEO Dr Francesco Gori said he estimates that European tyre market to fall 10 per cent during 2009. He noted that the “second and third quarters will be crucial” for the market, as he foresees that the “general halt” caused by economic crisis in the first quarter will be compensated by the October to December period.

14th April 2009/by Tyrepress Editors

Michelin Halts Silvania Zalau Production

Michelin’s 1,300 staff at the company’s Silvania Zalau plant in Romania will take 18 days enforced leave in March due to lack of orders. Michelin usually produces 600,000 tyres annually at Silvania Zalau, but worldwide financial turmoil has led to a drop in demand, necessitating a drop in that number. The French giant will keep its other two Romanian sites (Romsteel Cord and Victoria Floresti) running, though both will close on Sundays.

Michelin closed all three facilities early on 12 December for an extended Christmas break last year, reopening on 6 January, 2009.

10th March 2009/by Tyrepress Editors

Kumho to Finalise Tyre Choice for Macon, USA Plant by June

Kumho says it will make a decision by June on the type of tyres its planned facility in Macon, USA will produce. The plant was originally due to enter production this year before Kumho announced a 12-month delay last December, the revised completion time attributed to market factors. The South Korean manufacturer says the delay was necessary in order to respond to such factors.

6th March 2009/by Tyrepress Editors

BBS Parent Company Reports “Extremely Difficult” Market Conditions

Belgium based Punch International nv, parent company of wheel manufacturer BBS International GmbH, has posted an net profit of 43.3 million euros for the 2008 year, an increase of 51.9 per cent – however the company has made the less than sanguine statement that the performance of its automotive operations were “weak” and the market “extremely difficult. Altogether, the company generated sales of 341.5 million euros, an increase of 3.0 per cent on 2007.

3rd March 2009/by Tyrepress Editors

Birla Tyres Resumes Production at Orissa Plant

Following a two week pause, production at Birla Tyres’ factory in India’s Orissa state resumed on March 2. The plant closure, deemed necessary due to a drop in demand, was the third to take place since December, and may not be the last.

“We resumed full production today (Monday) even though the market condition has not yet improved,” a plant official – who wished to remain anonymous – told the Indo-Asian News Service. “We will review the situation after 10 days. If the market conditions do not improve, we may consider another shutdown.”

2nd March 2009/by Tyrepress Editors

Bridgestone Announces Temporary Closures at European Facilities

Bridgestone Europe has announced temporary closure of factories in the region following worsening market demand during December, January and February, especially in the OE tyre segment. According to Bridgestone, these temporary shutdowns will affect the bulk of its European facilities, including the company’s plants in Béthune, Bari, Bilbao, Burgos and Poznan. Only the Tatabánya factory in Hungary and the agricultural line at the Puente San Miguel plant in Spain have been exempted from this action, reports Gert Meylemans, senior manager at Bridgestone’s European Communications Office. These temporary closures are already being implemented, Meylemans adds, and employees affected by the closures are being continuously informed as circumstances change.

19th February 2009/by Tyrepress Editors

European, American Tyre Markets Softer in December – Michelin

Figures released by Michelin have confirmed what we already knew – these are not happy times for the tyre industry. Between January and December 2008 the passenger car tyre segment in Europe (including the CIS) shrank for both the OE and replacement markets. The OE market dropped 7.2 per cent during the year, while replacement market sales declined 4.0 per cent. During the month of December 2008, OE sales plummeted 39.1 per cent year-on-year, while aftermarket sales grew by 7.6 per cent.

The European OE truck tyre market declined by 0.9 per cent between January and December 2008, and the replacement tyre market by 9.7 per cent. During December 2008 OE sales dropped 40.7 per cent year-on-year, and replacement market sales 31.0 per cent.

13th February 2009/by Tyrepress Editors

Johnson Announces Retirement, Berry to Lead ATD

Bill Berry has been tipped to be American Tire Distributors’ new CEO and president with the pending retirement of Dick Johnson, who will step down on 5 April. Berry, currently president and COO, joined ATD in 1998 when ATD (then Heafner Tire) merged with Itco Tire Co. He became executive vice president and COO in January 2002 and was named president and COO in May 2003.

Johnson will remain as chairman of the company for the next two years. He became chairman and CEO in May 2003, and during his tenure ATD doubled its sales to more than $2 billion and led the acquisition of numerous tyre distributors, including Am-Pac in late December.

“It has been my privilege to work closely with Bill Berry and the rest of the leadership team over the past decade to build a company that is stronger than ever and ready to shape the future of our industry,” said Johnson. “The changes announced today are the result of a succession plan developed over several years and designed to ensure a seamless transition and strength, stability and continuity of leadership for our company.” (Tire Review/Akron)

9th February 2009/by Tyrepress Editors

Carlisle Annual Figures Reflect Difficult Times for Industry

Carlisle Companies Incorporated has reported net sales from continuing operations of US$623.5 million for the quarter ended December 31, 2008, a 1 per cent decline in net sales from continuing operations of $631.4 million in the fourth quarter of 2007. The company says that a downturn sales in its Transportation Products segment, which includes Carlisle Wheel and Tire, along with its Construction Materials segment offset growth in other areas of the company’s business. For the full-year ended December 31, 2008, net sales from continuing operations were $2.97 billion, an 11 per cent increase over net sales from continuing operations of $2.68 billion in 2007. Sales increased in all segments, says Carlisle and organic sales growth was 3 per cent.

6th February 2009/by Tyrepress Editors

Net Loss for Ceat in Last Quarter

India’s Ceat Ltd has reported a net loss for the quarter year to December 21, 2008. According to the tyre maker, losses for the period amounted to Rs 216.4 million (£3.1 million). During the corresponding quarter of 2007 the company posted a net profit of Rs 192.3 million (£2.7 million).

A net loss was recorded despite an increase in quarterly sales. In a filing with the Bombay Stock Exchange, Ceat reported company earnings rising from Rs 5.69 billion (£80.4 million) in the final three months of 2007 to Rs 5.93 (£83.8 million) billion last year.

2nd February 2009/by Tyrepress Editors