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Deal Expected between Goodyear and Pacific Dunlop

Beleaguered Pacific Dunlop is expected to announce job cuts in a restructuring of its joint venture tyre division. It is also expected that Pacific Dunlop will announce plans to withdraw from the tyre venture, leaving Goodyear the controlling influence in the business. This comes as the group is about to release its latest profit figures which are expected to show a collapse in the performance of the tyre joint venture, Southern Pacific Tyres. Pacific Dunlop CEO, Tony Daniels, has so far declined to comment, other than to say that the JV partners were committed to manufacturing in Victoria, Australia.

30th November 2001/by Tyrepress Editors

“Disappointing” Goodyear Results

Goodyear has released details of its financial performance for the last quarter of 2000 and for the year as a whole. Sales for 2000 were a record $14.4 bn (1999: $13.4 bn), of which Dunlop contributed $2.3 bn. Goodyear estimates that currency factors reduced sales by $450 m. Net income was sharply down to $40.3 m (1999: $243.2 m). The number of tyres produced in 2000 rose by 22.8 million units to 223.3 m tyres, of which Dunlop shipped 37.3 m units. Samir Gibara, chairman and chief executive officer, described the results as “disappointing”, adding: “We have solid improvement plans in place for 2001.” Gibara went on to say that global rationalisation initiatives will reduce group employment worldwide by 7,200 and save $150 m this year, and $250 m annually thereafter.

30th November 2001/by Tyrepress Editors

Continuing Satisfaction From Michelin In J. D. Power Study

In the US, The J.D. Power & Associates 2001 Replacement Tire and Retailer Customer Satisfaction Study has rated Michelin as the brand offering most customer satisfaction among both passenger vehicles and light truck owners. This is the tenth year of the study and Michelin has taken top spot for the last seven years (light trucks) and the past three years for passenger vehicles. Light trucks include pick-ups, SUVs and full-size vans, passenger vehicles, cars and compact vans. Customers mentioned reliability, durability , performance and handling above price.

30th November 2001/by Tyrepress Editors

Start Of The Motorbike Season

Each year the motorcycle exhibition in Dortmund attracts many visitors, even though Munich has established a bigger show (every other year) for two-wheel fans in the meantime. More than 400 exhibitors took part in the 17th show from 28 February to 4 March and around 1,000 motorbikes could be seen in Dortmund. And on the tyre side? Only Dunlop presented a new tyre: the tyre manufacturer says that the D208 GP (front tyre 120/70 ZR 17, rear tyre 180/55 ZR 17) was developed based on experiences in motorsport. But apart from this, no more information was available. Dunlop couldn’t even tell NEUE REIFENZEITUNG a date for the official launch of the new product in Germany. And at all other tyre manufacturers‘ stands – Bridgestone, Cooper-Avon, Metzeler/Pirelli, Michelin – one could only see exactly the same product range as presented at Intermot last autumn – very disappointing so far. The only excitement for this year’s motorbike season will arise from the question if Bridgestone will be able to pass Metzeler and can climb to number one of the German market for motorbike tyres.

30th November 2001/by Tyrepress Editors

890 To Go At Pacific Dunlop

As part of its major restructuring, Pacific Dunlop is to close two Victoria-based tyre plants in Australia. The move is aimed at ensuring the future of South Pacific Tyres and will result in 890 job losses – 820 at the factories and 70 in management and back-office positions. Olympic Tyres Ltd has confirmed that it has secured continuous supply of Olympic Tyres, supplied by South Pacific Tyres. Olympic distribute SPT’s agricultural, off road and construction tyres throughout the UK and much of Europe.

30th November 2001/by Tyrepress Editors

Combined UK Offices For Dunlop And Goodyear

In the UK, Dunlop and Goodyear have decided to combine their administration offices to increase the effectiveness of the joint venture. The offices – and a new distribution centre – will be in Birmingham, preferably at Fort Dunlop. The Wolverhampton offices will eventually be closed, but production at Wolverhampton will not be affected. The two sales divisions will function independently, even though they will operate from the same location. The move will be completed over the next 12 months.

30th November 2001/by Tyrepress Editors

Warnair From Dunlop Is Standard In The New Mini

The new Mini will be equipped with Warnair as a standard feature. Dunlop’s tyre pressure warning system notifies the driver if a tyre loses more than 30 per cent of its air. Approval of the system for the Mini represents the first time that Dunlop’s Warnair has been included as standard equipment for a model in the small car sector. Since the introduction of Warnair in August 1997, 500,000 such tyre pressure monitoring systems have been installed worldwide. In addition, Dunlop is offering 26 additional sizes of the SP Winter Sport M3 which was developed for all categories. The tyre is now available in diameters from 13-19 inches.

30th November 2001/by Tyrepress Editors

Insolvency Of ASS Reifen- und Autoservice

ASS Reifen- und Autoservice, which has depots in Hamburg, Hanover and Berlin, has been declared insolvent. It is said that the Dunlop group (Dunlop, Pneumant and the equity Holert Konz) is the biggest creditor.

30th November 2001/by Tyrepress Editors

Divestment For Pacific Dunlop

Pacific Dunlop has announced it is to withdraw proposals to split its business into two independent publicly listed companies. The company told the Australian Stock Exchange it has decided to explore options to divest elements of the business and has appointed Deutsche Bank AG to assist. A profit warning for the second half to June 2001 was released, expecting profit to be up to 30 per cent lower than first half results.

30th November 2001/by Tyrepress Editors

Goodyear Top Management Under Pressure

The sharp drop in prices of Goodyear shares over the past three months has put extreme pressure on Goodyear’s top management. Possible reasons for the drop include increased raw material costs and apprehension among shareholders that the Dunlop acquisition could have a negative impact on results in the year 2000.

7th December 2000/by Tyrepress Editors

Quality Award For Dunlop

Dunlop Germany has been awarded a top level “Formula Q” award by the Volkswagen Group. Dunlop was the only tyre producer to gain the award for Supply Reliability, Productivity and Error-free Quality. Every year Volkswagen awards 20 of its 8,000 suppliers for their outstanding performance.

7th December 2000/by Tyrepress Editors

Popular as Ever – the Motorbike

The motorcycle industry started the millennium season on an optimistic note, when the “MOTORRÄDER” Fair at Dortmund opened on 1st March. Not only motorcycle manufacturers showed their new products for the year 2000, but on the total 409 stands in eight exhibition halls clothes, service and accessories were also represented. Figures produced by the German Motorcycle Manufacturers Association (IVM) confirm the abiding popularity of the motorised two-wheeler: The 187,192 new motorcycle registrations are equivalent to 6.4 p.c. growth over 1998. Not least among the accessories one must mention tyres – thus tyre manufacturers also had cause to rejoice. The industry was represented by Bridgestone, Cooper-Avon, Dunlop, Metzeler/Pirelli, Michelin and the Heidenau tyre factory showing their current products, but Continental was absent this time. Some old friends from the service sector had also turned up, among them several local companies but also Stinnes. Maybe “old” is not the right word for Stinnes. After its acquisition (together with Gummi Mayer) by the Danish Viborg group/the British Legal & General Ventures Ltd. the Stinnes/Mayer trade and service enterprises made their Fair début under the same corporate identity. News from the Dortmund show and more about motorbike related topics you can find in the April issue of NEUE REIFENZEITUNG.

7th December 2000/by Tyrepress Editors

Newly Created Summer Tyre Named Velocity

Velocity is the name of a newly created summer tyre. The program includes eleven sizes from 185/60 R14H to 205/45 ZR16. Continental and Dunlop South Africa are producing the tyre for the Tiger Wheels Group.

7th December 2000/by Tyrepress Editors

Dieter Hillecke Retires

Dr. Dieter Hillecke (61), Technical Managing Director of Dunlop Germany, retires on 31st December 1999. Before joining Dunlop in 1985, Hillecke filled various positions within the Pirelli international group.

7th December 2000/by Tyrepress Editors

Third Quarter Loss For Goodyear

Goodyear reported a net loss for the third quarter of $6.6 million and a net income of $109.1 m (Q3 1999: $3.3 bn). High raw material and energy costs were contributory factors. World-wide Q3 sales were $3.5 bn and sales for the first nine months of the year were $10.5 bn (1999: $9.3 bn). Before these figures were revealed, analysts – following a statement towards the end of September by Samir Gibara, describing a “difficult outlook” for the tyre industry – had widely expected Goodyear to break even at best.

7th December 2000/by Tyrepress Editors