Banday has announced an increase in third quarter revenues of 12 per cent. The company says that higher international sales, favourable exchange rates and revenue generated from the acquisition of Speedco were behind the increase.
The European automobile manufacturers association (ACEA) today released the latest European car registration statistics. In September 2004 1,353,817 units were registered across western Europe. This represents a decrease of –0.6 per cent (-0.7 per cent in the EU-15) compared with September 2003.
Alcoa has opened a new Automotive Centre in Farmington Hills, Michigan, USA. At the same time the company announced that it has been awarded more than a dozen new product applications by some of the most respected brands in the automotive industry.
Pirelli Tire, has selected Kuehne + Nagel to implement a new North American supply chain solution, including optimisation and management of its warehousing and distribution network.
Stapletons has announced that it will extend the distribution of Jupiter/Nexen tyres. The company exclusively distributes the South Korean ultra-high performance tyres, which are available in more than .”
A new report published by industry analysts, Plimsoll Publishing, identifies 22 companies whose efficiency could have an impact on the rest of the industry.
Honeywell International is to provide wheel and brake repair and overhaul services for American airline Evergreen International’s entire fleet of aircraft.
“This agreement is a great example of Honeywell’s capabilities to provide the right value for our customers through superior support and low-cost solutions,” says Peg Billson, Honeywell aircraft landing systems VP and general manager. “We are pleased to provide Evergreen with a comprehensive repair and overhaul service package to support their complete wheel and brake requirements.”
The service agreement will provide the airline with significant maintenance cost savings for its current fleet of 10 747s and five DC-9s. The contract will also include all labour and materials for wheels and brakes, as well as tyre management, and logistic services. In addition, Honeywell will provide distribution to and from more than 10 domestic and international operations.
Tyre & Accessories has learnt that Guangzhou South China Tire & Rubber Company (SCTR) is planning to build a new factory in July 2004. The move comes as part of the company’s plans to increase production of its popular Wanli tyres. At the moment the company produces around 4.85 million tyres of which two-thirds are radial tyres. The expansion will see production levels increase by
Goodyear have announced that, with the fruit and grape harvesting season not far away, it is launching its Optitrac DT812 DT818 in an expanded range of sizes.
Buell, a Harley-Davidson subsidiary, has selected Pirelli as its exclusive tyre supplier for its new Lightning CityX XB9SX. The company, which specialises in the production of sport motorcycles, has called the new model an “urban street fighter.”
In the 1st half of 2004, Michelin further improved its market position. Its continuous efforts to improve efficiency and successful price increases enabled the group to offset continually rising raw material costs and double income net to 328.9 million euros.
Bandag has announced that its second quarter earnings rose 37 per cent, largely due to the profits of its recently acquired lubrication service. The company announced earnings of $11.9 million (£6.4 million), compared with $8.7 million this time last year. Sales were also up, rising to $211 million, a $7 million increase on last year’s figures.
SmarTire Systems Inc. (OTCBB: SMTR) announced that the Company has signed a $15 Million Standby Equity Distribution Agreement with Cornell Capital Partners LP. This financial instrument replaces the $15 Equity Line of Credit arranged by HPC Capital Management in 2003. SmarTire also announces that it has arranged a second $750,000 unsecured, promissory note with Cornell Capital.
Recent years have seen the commercial truck tyre market move in favour of the Independent dealer. Where previously the fleet sector was dominated by the Equities – ATS Euromaster, Motorway/Hi-Q, National, and Central – the divestment and rationalisation that has taken place over the last five years has enabled the Independents to become a significant player. In fact, at a recent market trends presentation, Continental Tyres estimated that the Independents are now responsible for nearly 50 per cent of all tyres being sold to the market.
Supplying tyres to the truck fleet market, however, is big business and it takes a professional approach backed by a major manufacturer to get anywhere in the fleet business. Not only that, it takes a national, and ever increasingly, international approach to the market. That makes life difficult for the Independent dealer who cannot realistically deal with fleet business in all corners of the UK, never mind offer European cover.
The solution for the Independent is to join a tyre services network that can handle the approach to the national fleets and through its members offer national, or even international cover for fleet customers.
ContiNetwork, set up several years ago by Continental following its divestiture of National Tyres, is one such service network and forms Continental’s primary route to market for commercial tyre sales and service. Interestingly, Continental is now the only service provider to concentrate its distribution solely on the Independent network. Something that is of great importance to the Independent dealer who could often find himself competing against a service provider’s own Equity for the same business yet at different prices.
ContiNetwork has since established itself as one of the leading Independent networks and, according to Continental, services more national fleet business than any other Independent network. With 49 member companies – so-called ContiNetwork Partners – with some 200 tyre depots covering the whole of mainland Britain, its members are in a position to be able to deal with Continental’s national and regional fleets alongside their own contracts.
The package ContiNetwork gives its members is more than just tyres. There has to be a competitive product certainly, but ContiNetwork works to develop relationships and build confidence with its members.
American auto supplier, Federal-Mogul, continued to make a loss during the first three months of 2004 but sales figures reveal a turnaround in trading. The company´s first quarter report show increased operating sales of $186 million resulted in net losses of $20 million – down $17 million on the same period in 2003. Federal-Mogul, which continues to undergo financial restructuring after filing for bankruptcy under Chapter 11 in 2001, has attributed the improvements to higher sales of original equipment in both Europe and North America, lower interest payments and favourable exchange rates. Management have also stated that trading figures will not be adversely affected despite a substantial loss of equipment and stock following a fire at the company´s distribution centre in Tennessee. Federal-Mogul currently has one wheel plant, based in Poland, where it produces tyres for a number of German wheel manufacturers.
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