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Where Will Prices Go in 2009?

For the last six years prices have only gone one way – up. Then recently Morgan Stanley analysts, referring specifically to Michelin’s financial performance, wrote: “We believe it is simply unrealistic to expect current tyre prices to hold during an historic collapse of volume.” The recent fourth quarter round of prices increases will be the last “for possibly years to come,” they said. (See page 3 for more on this) However, the truth is seldom as black and white as it appears and further investigation reveals that different segments are receiving different pricing treatment.

3rd December 2008/by Tyrepress Editors

Dunlop Nigeria to Cease Local Production

International News, Product News

At Dunlop Nigeria’s Annual General Meeting on December 2 the company formally announced it will end local tyre production. This announcement comes half a year after production was cut back, and operating conditions within Nigeria, including an unreliable power supply, are said to be key factors behind the decision.

3rd December 2008/by Tyrepress Editors

Dunlop Oil & Marine Pleads Guilty to Price Fixing Charges

Grimsby based marine hose manufacturer Dunlop Oil & Marine has agreed to plead guilty to taking part in a scheme to fix prices and rig bids. The US Justice Department says the company has also agreed to pay a $4.54 million fine for its wrongdoings.

This please follows previous charges handed out to executives in the UK and several other countries. Three British businessmen were sentenced to imprisonment.

2nd December 2008/by Tyrepress Editors

Government Can’t Intervene in Dunlop India Crisis

The labour minister in the Indian State of West Bengal has admitted there is not much the state government can do to resolve the problems between Dunlop India and union groups. This disclosure, reports the Times of India, came after the minister received a letter from company representatives explaining their decision to suspend production.

Mr. Mrinal Banerjee, the labour minister, said he would meet with union leaders on December 2. “We will talk separately with unions and the management and then plan a tripartite meeting,” he said. “But this is all we can do. For, this is not a sick company and the management is simply saying that it has failed to run the factory.”

2nd December 2008/by Tyrepress Editors

Goodyear Dunlop Cuts 147 Western New York Jobs

Goodyear Dunlop has cut 147 jobs from its Western New York plant, according to American new sources. The cuts have been prompted by slowing tyre sales, with the company matching the slowdown with a cut in production for auto and commercial tyres. The Buffalo News states that motorcycle tyre production continues as normal, while United Steelworkers of America reported that 52 workers took buyouts, with another 95 laid off on 1 December.

2nd December 2008/by Tyrepress Editors

Lockout at Dunlop India Plant Declared

Dunlop India plans to suspend production at its Sahaganj facility and idle its workers on an Rs 2,000 (£30) a month retainer have run into complications, resulting in the company declaring a lockout at the plant on November 30. Workers have refused to sign an agreement accepting a suspension of production and the monthly payment, and on the morning of November 30 staged a demonstration against the company’s decision.

1st December 2008/by Tyrepress Editors

Goodyear Dunlop Secures Hargreaves Fleet Deal

Goodyear Dunlop’s Truck team have secured a fleet deal with Hargreaves Services, the UK’s biggest bulk haulage company. The deal will see 879 vehicles fitted with the latest Max Technology tyres from Goodyear during the company’s five year contract with the truck tyre giant.

1st December 2008/by Tyrepress Editors

Goodyear Dunlop Raises Prices 5%

Goodyear Dunlop UK is today (1 December 2008) increasing the cost of its two premium tyre brands by 5.1 per cent for Goodyear and 5.7 per cent for Dunlop. According to the company the move comes as a result of the recent “accelerated devaluation of the British pound versus both the euro and US dollar.” The British pound has fallen -17 per cent and -27 per cent against the euro and US dollar respectively since Autumn 2007. Recently this devaluation has accelerated and since 1 October 2008 sterling has lost 6 per cent of its value compared with the euro and -17 per cent against the US dollar. The company representatives Tyres & Accessories spoke to wouldn’t comment on the possibility of further increases, but simply said they are closely monitoring market conditions.

1st December 2008/by Tyrepress Editors

Dunlop Zimbabwe Permitted to Sell in Forex

The Reserve Bank of Zimbabwe has granted Dunlop Zimbabwe the licence required for companies in the country to sell products using foreign currencies, according to the Chronicle newspaper.

The paper quotes the firm’s Southern regional manager Dumisani Ndlovu, who stated, “the inspection was done by the RBZ on 25 November to check whether the ultra violet money detection machine was in place, the invoicing, security, computer network and warehousing. The team was satisfied and Dunlop was given permission to sell in forex.” He concluded that the licence would allow the manufacturer to import more raw materials, which would make an increase in production capacity possible, “thereby improving the company’s viability and safeguarding the company’s employment base. In addition, the more we sell in forex, the more forex that is made available to the RBZ to finance crucial national programmes in the country,” he stated.

28th November 2008/by Tyrepress Editors

German Goodyear Dunlop Factories Halt Christmas Production

Workers at Goodyear Dunlop’s six plants in Germany will return from their Christmas holidays two weeks later than normal following the decision to extend the winter holidays at all the sites. Production will end on 19 December, with workers returning on 5 January, 2009.

The spokesperson for Goodyear Dunlop in Hanau, Gabriele Velte stated, “The crunch is hard on all of us – also at the Fulda factory.” Citing this example, Goodyear Dunlop’s Fulda plant, which produces the Fulda brand as well as other brands, employs 1,400 workers. In previous years, the facility has worked throughout the Christmas and New Year period – the usual holidays excepted. “This has never happened before, as long as I can remember,” continued Velte.

28th November 2008/by Tyrepress Editors

Counterfeit Dunlop Tyres Discovered in Philippines Raid

The Philippine government’s Presidential Anti-Smuggling Group (PASG) has raided a warehouse on the northern island of Luzon, seizing some 10 million peso (£133,500) of counterfeit tyres and motorcycle spare parts. According to a PASG statement, the agencies raided the warehouse after receiving surveillance reports indicating the illegal nature of the activities within. The tyres confiscated from the warehouse are said to have been counterfeit Dunlop tyres.

27th November 2008/by Tyrepress Editors

Dunlop India Chairman Issues Consolatory Media Brief

PK Ruia, the chairman of Dunlop India has told national media sources that the situation at the company’s Sahagunj plant, where work remains under suspension, is “under control.” The factory has been closed since Tuesday 18 November, when staff members were told to go home with an allowance on 2,000 rupees a month. The company now states that talks with banks to negotiate the necessary working capital to reopen are “at an advanced stage”, and that the factory expects to reopen in between 15 and 90 days’ time.

25th November 2008/by Tyrepress Editors

Sales Tax Exemption, Productivity Agreement Sought By Dunlop India

Pawan Kumar Ruia claims he has no intention of closing down Dunlop operations in India. Before activities can resume at the company’s Sahaganj factory, however, he wants the West Bengal government to arrange sales tax exemption and an agreement with employees assuring an increase in productivity. Production stopped at the factory on November 17.

24th November 2008/by Tyrepress Editors

HiQ Director Predicts ‘Bright New Dawn’

HiQ Retail Director Andy Morris has already set a bold New Year’s resolution for the fast fit company in response to “one of the busiest years imaginable.” HiQ, which has over 120 centres nationwide, announced a national franchise programme designed to speed up the transfer of Goodyear Dunlop owned stores long-term franchise agreements. If that wasn’t enough to keep them busy, the company also embarked on the first year of a three-year sponsorship of the British Touring Car Championship.

Looking forward to 2009 Morris is optimistic: “Our company New Year Resolution is to offer ‘fast fit you can be sure of’ and that is our new company message that you will be hearing more of. It will be relevant to every single one of our centres. It has certainly been a hectic year, but one which has put us in a far stronger position now than we were 12 months ago.

24th November 2008/by Tyrepress Editors

Dunlop Announces 2009 Motorsport Calendar

Dunlop has announced its key UK motorsport meet dates for 2009. The race calendar will include Dunlop’s role as sole tyre supplier to the HiQ MSA British Touring Car Championship and as official sponsor of the Dunlop Great and British Motorsport Festival. Additionally, the company is the sole tyre supplier to the Dunlop Sport Maxx Production Cup.

21st November 2008/by Tyrepress Editors