economy Archives - Page 19 of 22 - Tyrepress

Posts

Bridgestone Hits 35 Million Mark in New Zealand

(Akron/Tire Review) Bridgestone New Zealand is celebrating the production of the 35 millionth tire at its Christchurch, New Zealand, plant, which opened in 1947. Employing 300 people in a seven-day-a-week business, the factory contributes an estimated $23.8 million a year to Christchurch’s economy, said John Staples, the general sales manager for Bridgestone New Zealand. The plant was originally built by the Firestone Tire & Rubber Co. as one of eight manufacturing facilities the company then had outside of the U.S. The factory now has the capacity to produce 5,000 tires a day, and exports 40% of its output, Staples said. “Our relationship with all the communities we are part of is very important to us, and the Christchurch community in particular with the presence of our factory,” Staples said.

3rd March 2006/by Tyrepress Editors

Record Mileage Performance for Owner-Driver

Carlisle based owner-driver Keith Simpson has just replaced the original drive axle tyres on his Volvo FH12 tractor unit after an impressive 616,000 kilometres. The Michelin 295/80 R22.5 XDE2 tyres recorded this performance during the first life of the brand new tyres, followed by a regroove, which ensured an additional 20 per cent mileage. The regrooving also extended the tyres most fuel-efficient state, in line with Michelin’s Stop Thirsty Tyres Campaign.

7th February 2006/by Tyrepress Editors

Free Trade Talks With South Korea to Start

(Akron/Tire Review) Free trade talks between the US and South Korea have been confirmed, and if they are successful it would represent the largest free trade deal for the US since NAFTA was instituted.

6th February 2006/by Tyrepress Editors

Steelworkers Angry Over Michelin Plant Closure

(Akron/Tire Review) As expected, United Steelworkers officials in Canada and the US reacted bitterly to the news that Michelin North America (MNA) was planning to close its 44-year-old broadline tyre plant in Kitchener, Ontario,

“It is outrageous that the company has never discussed alternatives with the union and simply dropped a bomb on the whole city,” said Wayne Fraser, USW’s Ontario/Atlantic director. “It is a mean-spirited, terrible way to treat workers, their families and the whole community.”

6th February 2006/by Tyrepress Editors

Conti Dedicates Zvolen Brake Plant

Only 10 months after breaking ground in April 2005, the Automotive Systems Division of Continental AG has dedicated a new production plant for brake callipers in Zvolen, Slovak Republic. In the future, the plant will produce high-performance brake callipers, some of which will be supplied to automotive plants in the fast growing Automotive Region Eastern Europe (AREE). Continental Automotive Systems plans to invest more than 60 million euros in the Hydraulic Brake Systems Business Unit, which plays a significant role in securing its international competitiveness.

3rd February 2006/by Tyrepress Editors

Wicked Wheels Adds Sprinter Fleet

An Essex-based alloy wheels repair business is a polished act when it comes to keeping up appearances and it has just returned to Mercedes-Benz for a new fleet of vans. Wicked Wheels UK, of Toppesfield Road, Great Yeldham, Halstead, started life as a one-man operation with a Mercedes Sprinter van five years ago. As the company has expanded, so its fleet has grown. Today, Wicked Wheels operates more than 40 vehicles across 24 UK locations and has a turnover of nearly £3 million.

13th December 2005/by Tyrepress Editors

Hankook Still Talking in Slovakia

(Akron/Tire Review) News reports indicate that Slovakia is still negotiating with South Korean manufacturer Hankook Tire Co for a 500 million euro plant near Levice. Acting Slovakia Economy Ministry spokesman Peter Papanek told newswire TASR that negotiations were on-going. “The Hankook investment is still very important for Slovakia. The Slovak Investment and Trade Development Agency (SARIO) is still holding talks on this investment,” Papanek said in published reports.

The country is now offering an incentive package that is 70 per cent lower than its original offering of some 110 million euros. Slovakia’s cabinet rejected an investment plan with Hankook in early July. That plan allowed for state investment for infrastructure improvements worth 21 per cent of Hankook’s planned investment. Hankook said that it would not accept the lowering of investment stimuli from 21 per cent to 19 per cent, and restarted talks with other Eastern European nations.

7th September 2005/by Tyrepress Editors

US Tyre Shipments Increase 2.2 per cent

US tyre shipments for 2005 are expected to increase by more than 2 per cent compared to 2004 due to continued economic growth in the consumer and commercial sectors.

24th August 2005/by Tyrepress Editors

Hankook to Restart Talks With Other Countries

(Akron/Tire Review) Reports out of Slovakia say that Hankook Tire Co will restart negotiations with other eastern European nations regarding its plans for a 500 million euro tyre plant. Slovakia lost its exclusive bargaining rights after cabinet ministers rejected a government aid package worth some 110 million euros.
It is expected that Hankook officials will renew talks with Poland and Hungary, the two the countries the South Korean tyremaker held negotiations with before it selected Slovakia in May.

14th July 2005/by Tyrepress Editors

Slovakia Scrambles to Mend Hankook Deal

(Akron/Tire Review) Reports say that Slovakian government officials are trying to meet with Hankook Tire Co to see if a deal to bring a 500 million euro tyre plant to that country can be salvaged. Earlier this week, government ministers rejected an incentive plan previously offered to lure the South Korean tyre maker to that country.

According to the Slovak Spectator, Economy Minister Pavol Rusko was expected to meet with Hankook officials yesterday to discuss “an acceptable amount of investment incentives.” The rejected incentive plan would have provided nearly 300 million euros in infrastructure improvements and tax breaks, said the newspaper.

11th July 2005/by Tyrepress Editors

Amtel-Vredestein Secure Investment

Amtel has secured a sum of private equity capital totaling US $70 million (£40 million). Following its recent acquisition of Vredestein the company has arranged equity financing from two leading groups, Alfa Group and Temasek Holdings, representing both domestic and international investors.

8th July 2005/by Tyrepress Editors

Pirelli Sells Cable Business to Goldman Sachs for 1.3 billion euros

Pirelli & C SpA has sold its Energy and Telecom Cables and Systems business to Goldman Sachs for 1.3 billion euros. So what will the investment company get for its money? In 2004 the cable business turned over more than 3.2 billion euros, with an operating income (EBIT) of more than 110 million. The transaction includes intellectual property rights and Pirelli brand licensing for two years. While the business itself employs 12,000 people in its 52 plants around the world.

2nd June 2005/by Tyrepress Editors

Jaguar Plant Number One in US Initial Quality Study

Ford Motor Company’s Halewood Jaguar assembly has earned the Gold Plant Quality Award for assembly plant quality in the European region, according to the J D Power and Associates. The 2005 US Initial Quality Study (IQS) found that the Jaguar X-Type, receives a score of 70 problems per 100 vehicles, the best score among European plants assembling vehicles for export to the United States. The Halewood plant, which was first included in the IQS in 2002, has shown a 55 per cent quality improvement to 70 problems per hundred in 2005 from 157 in 2002.

19th May 2005/by Tyrepress Editors

Dekk Partner Reports Rapid Growth

Nordic buying group Dekk Partner has reported that its network is growing at a rapid rate. Dekk Partner now has 110 workshops in Norway, close to 90 in Sweden, 60 in Finland and one in Estonia. On top of this group managing director, Leif Kristiansen, predicts that total turnover could peak at 215 million euros this year.

6th May 2005/by Tyrepress Editors

Hankook Chooses Slovakia

Hankook Tire Co has chosen Slovakia as the location of its new Eastern European factory, Slovakia’s economy minister, Pavol Rusko, is quoted as saying. The company, now plans to make an investment worth around 500 million euros in the country.

5th May 2005/by Tyrepress Editors