Bridgestone Australia has provided its Ferrari F2004 Formula One show car to the country’s National Motor Museum on a long-term loan. The car, an exact replica of the racer that won 15 out of 18 races in the 2004 Formula One season and scored 12 pole positions at the hands of Michael Schumacher and Rubens Barrichello, was officially unveiled at the Adelaide-based museum on 12 December.
A US man has aptly demonstrated why tyres, firearms and alcohol don’t make the most congenial bedfellows. Oregon-based publication the Statesman Journal reports the story of Brandon Butler, who late on the evening of 14 December inspected a set of tyres being sold by an acquaintance, Anthony Catullo. According to the Statesman Journal, rather than offering cash for the tyres, Butler suggested a barter arrangement.
On 14 December Bridgestone Americas gave word of its recent appointment of a new head of Human Resources. Darrin Rohr was appointed to the role of chief human resource officer, effective 26 November. He succeeds Patti James in this position; James now serves as Bridgestone America’s president of Shared Services, a post she accepted earlier this year.
In a ceremony held on the evening of 13 December, Apollo Tyres was conferred with Asia Responsible Entrepreneurship Awards (AREA) 2012 South Asia. The company received this award in the Health Promotion category for its HIV-AIDS initiative. Sunam Sarkar, chief financial officer, Apollo Tyres Ltd received the award from the Enterprise Asia Team.
As well as over 100 pages of coverage on key industry matters, December's Tyres & Accessories includes the latest edition of our 40-page edition of our Retreading Special supplement. The third publication of its kind this year, December's Retreading Special focuses on the role of machinery in retreading and examines trends observed and influenced by this part of the market. Subscribers don't need to wait for the paper copy to arrive – click more to view our virtual e-paper version.
Titan International’s Board of Directors has approved a quarterly cash dividend of US$.005 (one half cent) per common share for the fourth quarter of 2012. The cash dividend is payable 15 January 2013 to stockholders of record on 31 December 2012.
The 11th International Mining and Machinery Exhibition (IMME) took place in Kolkata, India between 5 and 8 December. During the show Apollo Tyres launched the largest OTR tyre produced in the country, the XTRAX 40.00‐57.
On 7 December Goodyear Tire & Rubber announced it will transfer its stock exchange listing to the NASDAQ Global Select Market from the New York Stock Exchange. Goodyear’s common stock shares will begin trading on the NASDAQ Global Select Market on or about 18 December 2012 under the current Goodyear ticker symbol “GT.” Additionally, Goodyear’s 5.875 per cent mandatory convertible preferred stock will trade on the NASDAQ Global Select Market under the ticker symbol “GTPPP.”
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The dividend is payable 1 January 2013 to shareholders of record on 14 December 2012. The payout represents an annual rate of US$2.9375 per share.
Toyo Tyre (UK) Limited has confirmed that Nick Manning has stepped down as managing director of the company with immediate effect. According to company representatives he will officially leave the company at the end of December 2012 in order to “pursue other interests.” There has been no indication of whether or not these other interest will be inside or outside the tyre industry.
On 23 August Polish chemical manufacturer Synthos SA informed the Warsaw Stock Exchange it has signed a supply deal with Goodyear Tire & Rubber. The agreement is valid until 31 December 2012 and covers the supply of solution styrene butadiene rubber and emulsion styrene butadiene rubber. The contract is valued at approximately PLN 3.74 billion (£709 million); the price to be paid is based upon a formula that takes into account the market price of raw materials.
Regional newspaper the Journal Standard reports that the union representing workers at Titan Tire Corporation’s Freeport factory in the US has held “solidarity rallies” with a view towards discussing a renegotiated contract with the tyre maker. In an article published 23 August, the paper quoted the United Steelworkers union local chapter president Dale Sandell as saying “we have been under an imposed contract for about two years now. We’re trying to get back to the table.”
The Jakarta Globe reports that Multistrada Arah Sarana intends to diversify into industrial real estate. The tyre maker is believed to be making this move in response to alleged Indonesian government plans requiring all manufacturers to relocate to industrial estates before December 2012. Company president Pieter Tanuri said the new subsidiary will be called Kawasan Industri Multistrada and will build an industrial estate on 210 hectares of land near Jakarta. While Tanuri has not disclosed the level of investment Multistrada is making in the project, the company president said he expects construction to be complete by December 2014.
Michelin has given word of its 24 April repurchase of more than ten per cent of the issued number of its lowest ranking subordinated notes (titres subordonnés remboursables de dernier rang), due 3 December 2033, for an aggregate nominal amount of 500,000,000 euros admitted to trading on the regulated market of NYSE Euronext Paris under ISIN FR0010034298. Following the repurchase, the outstanding nominal amount is 85,197,000 euros.
Bridgestone Corporation reports success in its lawsuit against Chinese manufacturer Guangming Tyre Group regarding the infringement of its design patent rights. The case began in May 2011, when Bridgestone filed a lawsuit in the Beijing Second Intermediate People's Court, alleging its design patent rights were violated by Guangming Tyre Group. Specifically, Bridgestone claimed Guangming was manufacturing and selling tyres that used the Japanese tyre maker’s patented truck and bus tyre tread patterns. Guangming produces tyres under the Heshan and Chaoyinsu brand names.
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