December Archives - Page 27 of 35 - Tyrepress

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Will Mozambique Government Sell Tyre Factory?

The Mozambican government may be preparing to sell off a derelict tyre factory on the outskirts of Maputo, according to the Agencia de Informacao de Mocambique news agency. The Mabor tyre factory was reportedly something of a national showpiece until it closed following a fire in December 2004. According to local news sources the state is now running what is left of Mabor through its Institute for the Management of State Holdings, IGEPE. The IGEPE is reported to have been looking for ways to reactivate the plant since it was “paralysed” and, of course, one solution is to sell the facility.

19th June 2006/by Tyrepress Editors

Japanese Tyre Sales up 1.3 per cent

Japanese domestic tyre shipments rose 1.3 per cent year-on-year in March, to 11.865 million units. This was the same increase as recorded in February and, according to Deutsche Bank analysts, suggests that demand for studless tyres has levelled out. This comes after heavy snowfall and anticipation of tyre price increases buoyed growth in December (+13.9%) and January (+9.6%).

13th April 2006/by Tyrepress Editors

Dunlop India to Make Industrial Rubber Products at Ambattur

Dunlop India is planning to set up an industrial rubber products plant at its existing truck and bus tyre manufacturing facility at Ambattur in Chennai. The company currently has an industrial products division at Sahagunj facility in West Bengal, the Indian Hindu Business Line Newspaper has reported.

12th April 2006/by Tyrepress Editors

G. Craig Sullivan Elected to Goodyear Board

G Craig Sullivan, former chairman and chief executive officer of The Clorox Company, has been elected to the Board of Directors of The Goodyear Tire & Rubber Company.

“Craig Sullivan is a top-rate business leader with extensive experience in building strong consumer brands,” said Goodyear chairman and chief executive officer Robert J. Keegan. “His experience and knowledge will be of significant value to our board of directors.”

11th April 2006/by Tyrepress Editors

Amerityre Lists on Nasdaq

Polyurethane tyre producer, Amerityre began trading on the Nasdaq Capital market on 21 March. “We are very pleased to reach this milestone in the development of our company,” commented Richard Steinke, Amerityre’s president and CEO. “We look forward to the enhanced access to the capital markets, improved liquidity and added shareholder value that are typically associated with a NASDAQ listing.”

22nd March 2006/by Tyrepress Editors

Tyre Shipment Increase Smaller, Says RMA

(Akron/Tire Review) The RMA has adjusted its projections for 2006, and now expects total US tyre shipments to increase just 1 per cent compared to 2005, instead of the 2 per cent it had predicted back in December. The RMA said that 2006 should show “steady economic growth in the consumer and commercial sectors,” it has downgraded its shipment prediction because of decreases in OE markets. RMA projects continued annualized growth of about 1.7 per cent for total tyre shipments through 2011. Combined 2006 OE and replacement market shipments – passenger and commercial – should increase by 3.8 million units to nearly 325 million tires, up from 2005’s 320.8 million total units, RMA said. By 2011, shipments should reach 352 million tyres.

14th March 2006/by Tyrepress Editors

9-month Earnings Up at Yokohama

Yokohama Rubber Co., Ltd., has posted a 19.1 per cent increase in operating income, to 20.9 billion yen (£141.5 million), in the nine month period ended 31 December. Sales growth, cost-cutting measures, and the weakening of the yen against the dollar reportedly “more than offset increased raw-material costs.”

10th February 2006/by Tyrepress Editors

BEN Appoints Head of Welfare

BEN, the Motor and Allied Trades Benevolent Fund has appointed Fiona Gorman to Head of Welfare effective 1 February, following the departure of its deputy director care services in December.

7th February 2006/by Tyrepress Editors

Superior Industries Restructures Van Nuys Facility

Superior Industries International, Inc is restructuring its manufacturing facility in Van Nuys, California, laying off approximately 375 employees, out of 635 manufacturing employees. Superior’s corporate offices and 125 corporate staff, which also are located at this facility, will not be affected by the downsizing. The company reports that manufacturing will continue despite the job cuts.

2nd February 2006/by Tyrepress Editors

Amtel Confirms Krasnoyarsk Plant Sale

Amtel-Vredestein NV has confirmed that it has sold its Krasnoyarsk tyre complex to a Russian company, Vostokshinainvest. The company previously disclosed its intent to dispose of the facility in an announcement on 22 December 2005. The Krasnoyarsk plant is a Soviet-era facility that primarily produces truck, agricultural and “C” segment tyres which do not fit the company’s current strategy of focusing on the production and marketing of high-margin A and B-segment tyres used on premium and mid-range passenger vehicles.

30th January 2006/by Tyrepress Editors

Tyres Stolen from Pirelli Delivery

On 16 Friday December 2005 12 Pzero Nero M&S tyres went missing from a transport vehicle destined for Gothenburg. The 225/50R17 94V PZero Nero, M&S tyres were loaded at Pirelli, Burton-on-Trent but failed to arrive at their destination.

24th January 2006/by Tyrepress Editors

JK Industries Back in the Black

JK Industries Ltd, the manufacturer behind the JK Tyre and Vikrant brands, recorded a turnover of 6.52 billion rupees (£83 million) between October and December 2005, a 30 per cent increase over the corresponding quarter of the previous year.

The quarter-end results also showed that the company’s Operating Profit (EBIDTA) has increased 100 per cent to 380 million rupees and the Profit Before Tax also registered an increase at 48.2 million rupees against a loss of 49.3 million rupees in the corresponding quarter of the previous year. Net profit was up at 24.7 million rupees against loss of 92 million rupees during the same period year ago.

23rd January 2006/by Tyrepress Editors

Australia: Bridgestone Says Imports Affecting Domestic Sales

Bridgestone Australia Ltd says sales of locally made tyres remain under intense pressure from cheap imports. The Australian wing of the Tokyo-based company reported a 10 per cent rise in annual net profit to AUS$10.30 million for 2005 (£4.38 million, 6.38 million euros).

20th January 2006/by Tyrepress Editors

Designs For The Future

Dunlop Tyres has linked up with the London College of Fashion, challenging students to design a ‘ready to wear’ collection inspired by motorsport. The winning designs were unveiled at Birmingham’s Air nightclub on 11 January during an exclusive Dunlop brand event hosted by Radio 1’s Sara Cox, which also kick-started Dunlop’s presence at the annual Autosport Show.

19th January 2006/by Tyrepress Editors

Titan Buyout Deal to Close Next Month

(Akron/Tire Review) The sale of Titan International Inc. to One Equity Partners, a private equity group of JP Morgan Chase & Co, should be completed by the end of February, according to Maurice Taylor Jr, Titan’s chairman and CEO. Taylor said the special board committee of Titan directors formed to pursue talks with One Equity will vote on the deal by the middle of February. Shareholders will vote at the end of the month, he said.

18th January 2006/by Tyrepress Editors