economy Archives - Page 13 of 22 - Tyrepress

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Cooper Debuts Low RR Tyre at SEMA Show

Cooper has announced its arrival on the fuel efficiency scene at one of the world’s premier automotive specialty products trade event, SEMA. The company has debuted the Cooper GFE, the company’s first low-rolling resistance touring tyre. Cooper states that it is “dedicated to developing technology and fuel saving benefits.”

The GFE has been designed to provide Greater Fuel Efficiency (as its initials imply), and reduce rolling resistance without sacrificing tread life or traction. The company says that the tyre, through its enhanced polymer system, silica tread compound and the company’s own mixing technology, will provide exceptional wear, fuel economy, improved wet traction and a smooth, quiet ride.

5th November 2008/by Tyrepress Editors

Chinese Manufacturers Cutting Back Production

Producers of styrene-butadiene rubber (SBR) and polybutadiene rubber (BR) in parts of China are reporting weakening downstream demand due to cutbacks in the tyre industry. One unnamed large tyre manufacturer in Guangdong province has recently shut down operations at its factory, and several other manufacturers in Zhejiang and Anhui provinces have cut operating rates by 50 to 60 per cent due to a lack of cash and poor sales, trade and produce sources claim.

4th November 2008/by Tyrepress Editors

Michelin Ask Dundee Staff to Take Time off

Local news sources in Scotland have reported that Michelin has requested its 800 employees in the French giant’s Dundee plant to volunteer to take three days off. The company wants its workforce in the city to take leave on half pay over a ten day period at the end of November, so that the factory can remain in a “robust state”.

Member of Scottish Parliament, Marilyn Glen stated that, “Michelin is an important employer in Dundee and I can only hope it really is a one-off measure, and that the circumstances for production will improve when the situation is reassessed. My thoughts are with the workers and their families, who must be concerned about their futures, especially in the run-up to Christmas. Michelin has a good reputation as an employer and producer and I’m sure they will weather the economic storm. They have been trying to run down their stocks, so I can understand it.”

3rd November 2008/by Tyrepress Editors

Production Cutbacks Imminent at BFGoodrich Tuscaloosa Factory

BFGoodrich is said to be laying off several hundred employees at its Tuscaloosa, Alabama factory, effective November 1, and significantly reducing tyre production over the next eight weeks. Local newspaper the Montgomery Advertiser reports BFGoodrich-Michelin spokeswoman Lynn Slovak as saying the layoffs would be temporary.

27th October 2008/by Tyrepress Editors

Fleet Specialities Launches Susi TPMS

Fleet Specialties Co. has launched three new Tire Sentry tyre pressure monitoring systems (TPMS) for trucks that use super-single tyres. The TMA-SS series of TPMS are designed to warn drivers of developing pressure related problems before the problem shows up in a tyre blowout; and also help drivers get optimum fuel economy.

24th October 2008/by Tyrepress Editors

More Goodyear Plant Shutdowns Imminent

News of further shutdowns at Goodyear truck tyre division factories is circulating in the US media. The latest, reported by the Topeka Capital Journal and local television stations, concerns the company’s Topeka, Kansas factory, most recently closed for the week starting October 13. Goodyear says that two further week-long closures await the plant this year.

According to Goodyear spokeswoman Amy Brei, the shutdowns are to take place the weeks of November 3 and December 1. Goodyear officials blame the shutdown on Hurricane Ike and reduced demand for truck tyres. Raw material and fuel costs, along with a flaccid economy were also factors, said Brei.

23rd October 2008/by Tyrepress Editors

“UK Car Dealer Numbers Will Decline” – Analysts

There will be significantly fewer car retailers operating in the UK in the years to come, as a result of vehicle manufacturers tightening control over dealership standards, according to analysts PricewaterhouseCoopers. Chris Kent, a director in the automotive team at PricewaterhouseCoopers, will be presenting at the forthcoming EurotaxGlass’s conference entitled ‘Driving Business – opportunities for profit and growth in an uncertain market’.

Speaking ahead of the event, he said that many more dealers are expected to follow those that have already closed their doors this year. The theme will be explored in greater detail at the event, being staged on 13 November at the National Motorcycle Museum in Birmingham.

23rd October 2008/by Tyrepress Editors

Darren Wells Named Goodyear CFO

On October 17 Goodyear announced that W. Mark Schmitz, executive vice president and chief financial officer, has elected to leave the company to ‘pursue other interests’. Replacing him as CFO, effective immediately, is Darren R. Wells, previously senior vice president of finance and strategy. This announcement was made by Goodyear chairman and chief executive officer Robert J. Keegan.

Schmitz, 57, held the position of CFO for 14 months. Wells, 42, is considered by Goodyear to be of the key leaders and architects of the company’s financial restructuring since joining the company from Visteon Corp. six years ago as Goodyear’s vice president and treasurer. Wells was promoted to senior vice president business development and treasurer in May 2005, and to his most recent position in March 2007.

17th October 2008/by Tyrepress Editors

Nigerian Ban on Used Tyres Too Late for Local Industry

International News, Product News

Nigeria’s Customs and Excise Tariff Book for the period 2008–2012 has been presented. Amongst the many new measures being implemented in an effort to help the Africa nation’s economy is a ban on the importation of used tyres. However, in the opinion of many this measure may have come to late for the country’s domestic tyre industry.

13th October 2008/by Tyrepress Editors

Corvette Wins MPG Marathon

Would you believe it? The Corvette T&A mentioned in last week’s report on the MPG marathon was crowned the overall winner in the annual Fleetworld/ALD Automotive event. The American muscle car recorded a record 61.26 per cent improvement over the official combined figure in the two-day, 411-mile economy driving event. Driven by Press Association journalist Richard Hammond, the Corvette Z06 achieved a combined mpg figure of 30.96mpg over the challenging route, proving that even a 198mph supercar can achieve fuel economy similar to a family hatchback if driven with a sensible approach to road and traffic conditions.

13th October 2008/by Tyrepress Editors

BERR Reshuffles Ministerial Responsibilities

Just days after Peter Mandelson returned to cabinet for a record third time, the new Secretary of State for Business, Enterprise and Regulatory Reform outlined who would be doing what at BERR. Here are two highlights of significance to the tyre business:

Ian Pearson MP is moved to Economic and Business Minister (jointly with HMT) and will take responsibility for a wide portfolio of business sectors including aerospace, marine and defence; automotive; sustainable development and regulation export control and Export Credits Guarantee Department.

9th October 2008/by Tyrepress Editors

Cooper Launches Rebate Promotion

With its U.S. plants back on-stream, Cooper launched a national rebate promotion. The “Take the Money and Ride” promotion, which runs through Dec. 31, gives consumers a $50 rebate with the purchase of four qualifying Cooper tyres at participating dealers nationwide. “We are confident in the quality and performance of our tyres,” said Hal Gardner, Cooper vice president of marketing. “A large-scale event like the national tyre sale gives us the opportunity to share that quality and performance with consumers at a price that is affordable even in a tight economy.”

The promotion features a mail-in rebate of $50 for consumers buying a set of four Cooper CS4 Touring, Cooper Lifeliner GLS or Discoverer ATR and H/T tyres. Cooper said the national effort will be promoted on commercials airing on a number of TV channels, including ABC, ESPN, ESPN2, Versus, Raycom Sports and Fox Sports Regional, as well as with in-store POS materials. (Tire Review/Akron)

7th October 2008/by Tyrepress Editors

Goodyear Launches New Regional Haul Range

A new range of tyres for regional haul trucks with 17.5 and 19.5 inch wheels has been unveiled by Goodyear. The Goodyear Regional RHS II (Regional Haul Steer) and Regional RHD II (Regional Haul Drive) tyres are intended to cover a wide spectrum of applications and are suitable for all seasons use. In comparison with the products they replace, says Goodyear, the new tyres, which feature the company’s KMax Technology, offer greater mileage, improved traction and braking in wet and dry conditions as well as good handling and stability. KMax Technology, explains Goodyear, is designed for tyres fitted to vehicles operating in frequent stop-start traffic conditions, with high lateral forces on twisty roads and roundabouts, higher powered engines and an increasing use of retarders.

6th October 2008/by Tyrepress Editors

Carna Transport Opts for Michelin OE Following 18-Month Test

Monaghan, Ireland based haulier Carna Transport has completed an 18-month tyre trial to compare the efficiency of two leading tyre brands in the truck market, and as a direct result the company placed an order for its ten newest Euroliner trailers to be delivered with Michelin tyres as original equipment.

The in-house trial began in late 2006 following the delivery of a fleet of new Scania R420 4×2 tractor units, which were all delivered on the same original equipment tyres. Before the vehicles entered service, Carna Transport arranged for the tyres on two of the vehicles to be replaced with Michelin XZA2+ Energy tyres on the steer axles and Michelin XDE2+ regional tyres on the drive axles. Over the next 18 months the fuel economy of the vehicles running on the competitor’s tyres was monitored against the two tractor units shod with Michelin using the company’s own telematic equipment. The length of the test was judged to be sufficient to take into account the changing drivers, routes and loads, and enabled the company to calculate the average fuel return for the two different tyre specifications.

1st October 2008/by Tyrepress Editors

Afghan Tyre Smugglers Hurting Karachi Businesses

Pakistani news sources are reporting that Karachi industry, importers and manufacturers are feeling the malevolent effects of smuggled tyres coming across the border from Afghanistan. The contraband products are flooding the local marketplace, leading to a reduction in the share local businessmen can hope to attain.

According to reports, Pakistan has a demand for more than two million passenger car tyres annually, and as much of 70 per cent of this market is satisfied by tyres smuggled into the country through Afghan Transit Trade. An estimate by analysts puts a figure of one billion rupees (7.2 million pounds sterling) on the loss to the national exchequer as a result of this activity, in addition to the obvious harm caused to the local economy.

19th September 2008/by Tyrepress Editors