December Archives - Page 20 of 35 - Tyrepress

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Birla Expansion to Add Radial Capacity

India’s Business Standard newspaper has reported on plans for Kesoram Industries to invest Rs 8.4 billion (£103.4 million) expanding its Birla Tyre factory in the northern state of Uttarakhand. Plans for the facility include a radial tyre plant with a 100 ton per day capacity, to be built with a capital outlay of Rs 4.95 billion (£60.9 million) and a 125 ton per day capacity truck and agricultural vehicle bias tyre factory, to be built with an investment of Rs 3.45 billion (£42.5 million). The expansion has an anticipated completion date of December 2009.

12th May 2008/by Tyrepress Editors

Cooper Recall Now Includes Hercules, Pro Comp

Cooper Tire & Rubber Co.’s March recall of light truck tyres now includes Hercules and Pro Comp models produced by the tyremaker. The NHTSA issued recall notices for 2,005 Hercules branded and for 1,206 Pro Comp tyres produced between December 2, 2007 and January 12 in size LT265/75R16 Load Range E. In March, Cooper began recalling some 48,037 Cooper branded and private brand light truck tyres. The private brand lines included tyres for TBC, American Car Care Centers, Nokian Tyre, and Sure Tire.

15th April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Toyo Tire Appoints James Hawk as Corporate Officer

Toyo Tire Japan has appointed James Hawk as a corporate officer, making him the first non-Japanese corporate officer since the company was founded in 1945. In addition to this new position, Hawk has been promoted to president and plant manager of Toyo Tire North America Manufacturing Inc. (TNA), the company’s US passenger car and light truck tyre manufacturing plant located in White, Georgia.

20th March 2008/by Tyrepress Editors

European Commission Approves Brose Acquisition of Conti Units

The European Commission has approved the purchase of Continental’s electric motor device and cooling fan businesses by German company Brose. The electric motor device business was acquired by Conti when it purchased the Siemens VDO unit, and its purchase by Brose was agreed upon in mid-December. The business specialises in electric motors for window regulators, anti-lock braking systems, heating/ventilation, engine cooling and electric power steering.

11th March 2008/by Tyrepress Editors

Delticom Announces 2-Euro Dividend

Delticom AG achieved 12.3 million euros of consolidated in 2007, meaning pre-tax profits are up 21 per cent year-on-year. The 12.3 million euro EBIT figure is towards the top end of the 12.0 – 12.5 million euro projection the company gave in December 2007; and represents a margin of 5.7 per cent.

According to the preliminary unaudited figures, revenues amounted to 215 million euros, up slightly on the 214 million reported euros on 31 January 2008. Consolidated net income was also up 33 per cent to 8.4 million (previous year: 6.3 million euros).

5th March 2008/by Tyrepress Editors

Bike Tyrestore Launches Moto-Vate Loyalty Scheme

Leading UK two-wheel tyre wholesaler, Bike Tyrestore, has launched a new loyalty scheme called Moto-Vate, which the company says will enable “employees at all levels, to gain rewards in return for nothing more than loyalty to Bike Tyrestore.” Rewards include fitness club passes, shopping travel and lifestyle benefits.

4th March 2008/by Tyrepress Editors

May “Worst Month For Breakdowns” – ATS Euromaster

According to ATS Euromaster, May 2007 was the worst month of last year for commercial vehicle tyre-related breakdowns on the UK roads. The company says that its data shows that, throughout the year, ATS Euromaster’s 24 hour Rapid Response team handled 111,318 calls for roadside assistance from vans to top weight articulated trucks, with 10,242 (or 9.2 per cent) of all call-outs falling in May. The quietest month was December, with just 7,042 (or 6.3 per cent) of calls.

28th February 2008/by Tyrepress Editors

Bridgestone – Marine Hose Cease and Desist Orders Arrive

Bridgestone Corporation announced on February 22 that the previous day it received orders from Japan’s Fair Trade Commission in connection with the sales of marine hose from December, 1999 to May, 2007. The orders directed the company to cease and desist from violating of the Antimonopoly Act and to pay surcharges for violating the Act.

The company states that the group “take these orders seriously,” adding: “We will re-double our efforts to achieve and sustain compliance with all laws to meet our legal and moral requirements so as to recover the confidence of all stakeholders.” Bridgestone says it will review the content of these orders and then determine how best to proceed.

22nd February 2008/by Tyrepress Editors

Toyo Net Income Muted Despite Healthy Sales

Toyo Tire & Rubber has released details of business performance for the first three quarters of the financial year ending March 31, 2008. Year on year net sales for the nine months ending December 31, 2007 increased 13 per cent to 272,023 million yen (£1.29 billion), and operating income jumped 55.6 per cent over that earned in the equivalent months of 2006 to 12,951 million yen (£61.3 million). Net income shrank year on year, however, down 18.9 per cent to 6,946 million yen (£32.9 million). This overall net income result reflects the costs incurred through Toyo’s “compliance reporting issue” that was made public in mid-November 2007.

19th February 2008/by Tyrepress Editors

Former Senior BFNAT Exec Appointed CEO of ABC Supply

Former president and CEO of Bridgestone/Firestone Retail Operations and executive vice president of Bridgestone/Firestone in the US, David Luck, has taken on the position of CEO with ABC Supply Co. Luck assumed the position with the large American wholesaler of roofing, windows and building cladding following the sudden death of company founder, chairman and CEO Ken Hendricks last December.

David Luck will also continue in his current capacity as company president, the role he has served in since 1998 following his retirement from the tyre major after 27 years.

18th February 2008/by Tyrepress Editors

Elastomer Costs Equal Share Woes for Zeon Corp

Shares in Japanese synthetic rubber manufacturer Zeon Corp have experienced the largest fall in more than a decade after the company slashed its profit forecast; this decision was taken ahead of expected profits at its elastomer business falling below those previously anticipated. The stock dropped 82 yen (£0.39), or 15 per cent, to 461 yen (£2.21) on the Tokyo Stock Exchange, the largest single decrease the company has experienced since December 22, 1997.

12th February 2008/by Tyrepress Editors

Yokohama Subsidiary Gains ISO Certification

Yokohama Rubber reports that its US subsidiary engaged in the manufacture of rubber hoses for vehicle air conditioning and power steering units, SAS Rubber Company, became ISO 14001 certified in December 2007. According to Yokohama, the ISO 14001 certification of the Ohio facility comes as part of the company’s Grand Design 100 plan (GD100), first announced in April 2006; under the principles of GD100 all Yokohama group companies have been working on acquiring ISO 14001 certification, and all eleven of the company’s production bases in Japan and the corporate head office have already done so. Of Yokohama Rubber’s 13 overseas locations, nine, including SAS Rubber Company, have also been certified. The remainder, Yokohama reports, are working to complete the process at the earliest possible time.

8th February 2008/by Tyrepress Editors

Performance Fibers Appoints New COO

Manufacturer of polyester fibre for the tyre industry, Performance Fibers, has named Alexander J. Carnevale to the position of vice president/chief operating officer to manage business operations worldwide, and Marc Sicre to lead the company’s European business. Mr. Carnevale’s role is a newly created position, formed at a time when the company reports it is continuing to experience ‘aggressive growth’.

The addition of the COO position to the global leadership team will, the company states, strengthen Performance Fibers’ organisational structure, which is centred around strong regional businesses in Europe, North America and Asia, supported by global functions. Under the new structure, the leaders of each of the three regions will report to Carnevale and maintain the company’s strong regional focus, while Carnevale will be responsible for developing a cohesive global plan for the company.

1st February 2008/by Tyrepress Editors