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Alcoa Posts First Quarter Results

Alcoa has announced first quarter revenues of $6.3 billion, a four per cent increase from the sequential quarter. Income from operations was given as $273 million, or $.31 a share.

According to the company its income measures include negative impacts totaling $0.09 per share for the tax impact on Alcoa’s sale of its Elkem investment ($39 million after tax); restructuring charges ($25 million after tax); and costs of integrating the recently acquired Russian business ($12 million after tax). The fourth quarter of 2004 included a gain of $37 million, or $0.04, on the Juruti transfer, while the first quarter of 2004 include a gain of $58 million, or $0.07, on the sale of specialty chemicals.

11th April 2005/by Tyrepress Editors

Michelin Introduces New OTR Tyre

(Akron/Tire Review) Michelin North America’s (MNA) earthmover group has introduced a new OTR tyre and expanded the size offerings of its X-Haul radial tyre.

The new X-Super Terrain AD tyre, available in size 23.5R25, was unveiled at the ConExpo show in Las Vegas. According to MNA, the new tyre is designed for use by articulated dump trucks, scrapers and loaders. Its deep tread and durable compound is said to extend tyre life, and its “rugged” shoulder and sidewall design provide protection from road hazards, the company said. Traction is enhanced by an “aggressive and self-cleaning tread design.” The Michelin X-Super Terrain AD tyre is an E4 radial tyre that reportedly reduces vibration and aids fuel economy through low rolling resistance.

22nd March 2005/by Tyrepress Editors

US Trade Gap Reaches Record Proportions

The US’s total trade deficit reached a record $617.7 billion, Tire Review reports, citing the Commerce Department. In 2004 the gap widened by 24.4 per cent compare with the previous year, thanks to increased costs of crude oil and more purchases of finished goods. According to the report, purchases of cars and tyres reached all-time highs. The trade deficit even reached as far as farm products, with Americans buying more cheese, wine and food products that the US exported.

14th February 2005/by Tyrepress Editors

Hankook Tire Looks to Eastern Europe

Speculation around Hankook’s suggested move to Eastern Europe continues. For months now different sources have suggested that the South Korean company is planning a plant to supply regional carmakers like the Slovak unit of Kia Motors Corp.

3rd February 2005/by Tyrepress Editors

US to Test Rolling Resistance

The US independent tyre testing company, Smithers Scientific Services, has been awarded a $400,000 (£210,000) contract from the California Energy Commission to conduct a study of tyre characteristics in relation to rolling resistance.

The study will involve tyre rolling resistance, traction and treadwear testing, and according to the company will potentially serve as the basis for a fuel efficiency reporting system and minimum- efficiency standards.

4th January 2005/by Tyrepress Editors

Rolling Resistance Testing Contract for Smithers

Testing, research and consulting firm Smithers Scientific Services Inc. – with headquarters in Akron/Ohio (USA) – has confirmed that it has been awarded a $400,000 contract from the California Energy Commission to conduct a study of tire characteristics as they relate to rolling resistance. The study, funded by the Energy Commission, will involve tire rolling resistance, traction and treadwear testing, and will potentially serve as the basis for a fuel efficiency reporting system and minimum- efficiency standards. “Lower tire rolling resistance can directly lead to better vehicle fuel economy,” said David L. Schwarz, vice president of technical services and sales for Smithers. “However, as with any tire characteristic, there are potential tradeoffs. Thus, the Energy Commission study is not limited to rolling resistance testing. Additional work will be conducted to evaluate other performance attributes.” He pointed out that currently there is “really no information, in terms of tire rolling resistance or fuel economy, available to a consumer purchasing replacement tires.” The study will take about 18 months to complete. The rolling resistance testing will be conducted at Smithers’ indoor tire testing laboratories in Ravenna, Ohio.

23rd December 2004/by Tyrepress Editors

Into the ‘Guinness Book of Records’ on Bridgestone Tyres

Gerhard Plattner, an Austrian journalist and specialist in fuel economy record-breaking, succeeded in crossing ten European countries using just one tank of diesel. His trip began on 16th November 2004 in the German town of Lindau, on Lake Constance, with a full sealed tank and the firm intention to cross as many countries as possible without refuelling. After first travelling through Austria, Switzerland and Liechtenstein, he returned to Austria via the Feldkirch border crossing. The road took him further through the South Tyrolean Puster Valley, and on to Slovenia, West Croatia, Hungary and Slovakia. After a 1,160-km journey lasting 15 hours and 7 minutes, Plattner reached his final destination: the Czech Republic. On arriving in the tenth country of this epic ‘Eco Tour’, he parked his Golf V TDI running on Bridgestone „B390 Eco” tyres with the Volkswagen dealer in Brünn. “Above all, I would like to praise the Bridgestone ‘B390’ tyres. I have used them on previous record attempts and, yet again, they’ve performed splendidly. Not only do they have excellent fuel saving qualities, but they’re also comfortable and have first-rate handling characteristics,“ said Plattner after his tour throughout Europa which earned him a place in the ‘Guinness Book of Records’.

20th December 2004/by Tyrepress Editors

Cooper Boss Named Industry Executive of the Year

Thomas A Dattilo has been named Industry Executive of the Year by Rubber & Plastics News. Mr Dattilo, who is also chairman of Rubber Manufacturers Association and vice chairman of the Manufacturers Alliance (MAPI), has served as Cooper’s president chairman and CEO since April 2000. According to Rubber & Plastics News, Mr Dattilo has helped the company to grow by nearly 25 per cent. Identifying Dattilo as the first “outsider” to lead the company, Rubber & Plastics News noted that he has provided the company “international experience and a better understanding of outside forces that influence companies in today’s economy.”

”Cooper’s people and customers are what drive the company’s success. My role is to lead an already outstanding organisation to even greater success – greater than what they may realise they can achieve,” explained Dattilo. “I am thrilled and honored to be named to this prestigious honour and gladly share this recognition with the entire Cooper organization.”

15th December 2004/by Tyrepress Editors

CBI Names New Trade Association Council Chairman

SMMT chief executive Christopher Macgowan is to be the next chairman of the CBI Trade Association Council. Mr Macgowan will serve a one-year term of office and replace the previous chair of the council, Moira McMillan, chief executive of the British Coatings Federation.

Commenting on his recent appointment, Christopher Macgowan said: “I am immensely proud to become the next chairman of the Trade Association Council. It represents the great strength of UK trade associations and I look forward to making sure our collective voice is heard within the business environment. The motor industry is a leader in many areas and we have a vital role to play in the UK economy. I hope my tenure as chairman of the Council will further enhance our reputation while benefiting all.”

The Trade Association Council is made up of the UK’s top 20 trade associations in the CBI. It meets four times a year to contribute to policy work being undertaken by the CBI, and to identify and consider issues of common interest to the heads of major trade sector bodies.

The Council is a cross-sectoral forum spearheading the representation of trade associations within CBI membership. It meets quarterly with Digby Jones, CBI director-general, government and economic organisations to consider a range of policy issues as part of the CBI’s consultation process which helps inform and drive the wider business agenda.

13th December 2004/by Tyrepress Editors

Can Russia Close the Gap Between Itself and Europe?

If we take a look at the current state of Russia’s tyre market, two main features can be identified. Firstly, there is the low-key presence of Western tyre manufacturers when it comes to owning production facilities in the country. With the exceptions of the Michelin owned factory near Moscow, and the plant that Nokian has started building, it appears as if other companies are only just starting to recognise Russia as an interesting market. This supplement to TYRES & ACCESSORIES and NEUE REIFENZEITUNG provides a look at the particular characteristics of the Russian market, introducing the important players and providing an outlook on the future development of this part of the world. Will Russia be able to close the gap between Europe and itself?

9th December 2004/by Tyrepress Editors

EU Report Gives Luxembourg Second Place For Research

The former Prime Minister of the Netherlands, Wim Kok, has presented an interim report to the European Union, pursuing the goal of making the EU the strongest economic power in the world, by 2010. The report found that Luxembourg fares well, already in an “above average” position. The research summarised a countries potential to grow based on the number of scientists per thousand. With a European average of 5.7 per thousand, Luxembourg was found to have the second largest proportion in Europe, with 8.78 researchers per thousand. Only Finland has a higher number of research scientists. Luxembourg was less successful in other categories.

The reason for Luxembourg’s impressive standing is because of the number of private research centres based within its borders. Luxembourg is the home of a number of significant research centres including, Goodyear, DuPont and Delphi.

Currently the Lisbon Strategy is a long way away from its goal of making Europe the strongest developed economy in the world.

5th November 2004/by Tyrepress Editors

Goodyear and Dunlop Show New Lines

Goodyear and Dunlop have exhibited a number of new and forthcoming products at the 60th IAA show in Hanover. While they shared exhibition space, the two brands maintained their independent identities and made every effort to affirm the company’s emphasis on economy.

23rd September 2004/by Tyrepress Editors

Motorcycle Registrations Continue to Grow

As high-street retailers report a wet August and rising interest rates hit consumer sales generally, the Motor Cycle Industry Association (MCI) today released figures indicating a rise in new bikes sales.

9th September 2004/by Tyrepress Editors

US Tyre Demand to Increase by 4.1 per cent

Tyre Market USA The Rubber Manufacturers Association (RMA) has said that it expects demand for tyres to increase by 4.1 per cent in the US. The growth is attributed mainly to “broad-based economic growth in the consumer and commercial sectors.” According to the association, this growth is expected to continue over the next few years inline with the US economy’s moderate growth pattern. Overall, the combined original equipment (OE) and replacement shipments for both the car and truck categories are anticipated to increase by 12.6 million units to nearly 323 million units. In 2003 it amounted to 310.3 million. The association is projecting that this figure will reach 356 million units by 2009.

7th September 2004/by Tyrepress Editors

Annual Meeting of “Auto-Kompleks”

Within a couple of weeks of the fall of the Berlin Wall, the Polish government abandoned its centrally planned economy and replaced it with a liberalised system based on free market thinking.
Today, 14 years after those first steps towards a western economic system, Poland and most of its business sectors are dominated by change. This progression is true of the tyre business too. In early June, the members of the new Polish tyre retail association, Auto-Kompleks, met in Bogumilow in order to discuss its plans for the future and to correct the mistakes of the past.

Since its foundation in 1999, the 40 or so members of Auto-Kompleks have met once a year in south-west Poland. After five years in existence, the association is still searching for a fundamental direction. Although Auto-Kompleks calls itself an “association” it is not entirely clear whether the title means the same as it would in the UK.

For example, one legacy from the organisation’s foundation period is that two members from the same town are prohibited from joining. This kind of territory protection, which is usually bestowed upon retailers or wholesalers by the industry, suggests that Auto-Kompleks was initially formed in order to act as a retail co-operative that could strengthen the individual members’ buying power. Indeed the initiator and founder of Auto-Kompleks, Kazimierz Mazurkiewicz, who was elected as the group’s president in June, told Tyres & Accessories that the foundation was formed as a reaction against the attempts of Polish wholesalers to sell directly to the end-consumer.

Auto-Kompleks was perceived to be the smaller and less powerful retailers’ best defence against the price dictating power of the tyre industry. Although the organisation was originally conceived to represent the interests of independent tyre dealers in Poland Mr Mazurkiewicz has to admit that Auto-Kompleks’ efforts have only been halfway successful. We are learning through experience, the new vice president Ryszard Maguder added. Although still “in discussion”, explains the tyre dealer from Kruszyn; a change of Auto-Kompleks’ admission policy is just a matter of time.

25th August 2004/by Tyrepress Editors