Bridgestone Europe has opened its first European First Stop “Model Store” in Zaventem, Belgium in the presence of Francis Vermeiren, Mayor of Zaventem; Minekazu Fujimura, chairman, CEO and president of Bridgestone Europe; and Günther F Unterhauser, senior vice president sales and marketing.
(Akron/Tire Review) Hankook Tire Co saw profits increase 16 per cent in the third quarter, reaching $51 million against sales that rose 7 per cent to about $450 million. The South Korean tyremaker said the results were due to increased sales to automakers and price increases.
“Sales rose as Hankook raised prices of tyres in the US two times this year and once in Europe,” said Suh Min Chul, assistant manager of Hankook’s investor relations department. Hankook Tire, he noted, paid 11 per cent to 15 per cent more for raw materials compared to previous periods.
CGS Tyres has presented a new tyre brand for agricultural products at the Agritechnica, exhibition in Hanover. In effect the moves equates to the re-branding of its Uniroyal products under the Semperit moniker. According to CGS, the Semperit brand is characterised in particular by an excellent price/performance ratio.
When Bridgestone recently announced that it would increase prices in Europe it was the latest in a string of decisions by tyre manufacturers around the world. It seems that no matter where in the world a company is based, companies cannot avoid the increased price of raw materials and particularly natural rubber, synthetic rubber and steel. But T&A would like to know what you think about the recent spate of price increases issued by manufacturers around the world? Are they a necessary evil, a stealth tax on distributors or just the result of prudent financial planning on the part of the manufacturing business? To place your vote and leave your opinion click here.
Blackcircles.com is aiming to turn 700 independent garages across the UK into franchisees. And what’s more, managing director, Mike Welch, has a five-year plan to capture 10 per cent of the market and plans to enter Europe in 2006.
Blackcircles.com is something of dotcom success story. Founded in 2001 when Mr Welch was 23, the company currently operates a network of 987 independent garages serving consumers from “Thurso to Truro.” Next the 27-year-old managing director is aiming to capitalise on this position by turning 700 of the garages into branded franchisees, making local independent garages into outlets linked to Blackcircles’ ordering and stock checking systems.
Hayes Lemmerz International has appointed John Stephenson as vice president of the Steel Wheel Operations for the company’s International Wheel Group, effective immediately. Mr. Stephenson will report directly to International Wheel Group President Fred Bentley. Mr Stephenson will have responsibility for the company’s International Steel Wheel businesses with operations in Germany, Spain, Czech Republic, and India.
Bridgestone Europe NV/SA announces that it will increase prices on all of its tyre brands and categories. It will apply to all replacement channels in all European countries. The increases are up to 5 per cent and are scheduled to take effect from 1 January 2006.
According to Guenter Unterhauser, senior vice president sales & marketing of Bridgestone Europe: “Our manufacturing divisions are facing huge increases in raw materials costs. The recent increases in oil based raw materials, as well as natural rubber and energy, puts us in the situation where we have to increase prices.”
(Akron/Tire Review) Goodyear Tire & Rubber Co reported net income of $142 million, the company’s best quarterly result since the third quarter of 1998 and up substantially from its 2004 third quarter profit of $38 million. The profit came against record quarterly net sales and strong results from its tyre operations, Goodyear said. Goodyear recorded sales of $5 billion for the quarter, up 7 per cent from $4.7 billion during the same period last year. 2004 period. Third quarter tyre unit volume increased to 58.4 million units, up 1.8 per cent from last year.
(Akron/Tire Review) Delphi Corp. appointed Brian Altenberger as global director of marketing for its Delphi Product & Service Solutions unit. Altenberger replaces Lucia Moretti who was recently named managing director for Delphi’s Aftermarket operations in Europe, Middle East and Africa. In his new role, Altenberger will be responsible for global marketing for Delphi’s aftermarket product lines, distribution strategy and business planning.
Continental is to increase its production capacity in so-called low cost European countries by 3-4 million units each year, analysts have reported. Given the fact that labour costs in Western Europe are five times higher compared to Central and Eastern Europe the Deutsche Bank analysts calculate a competitive advantage of five euros per tyre.
As many as two dozen of Bandag’s senior managers, including Peter de Cabooter, sales director Europe and Lennart Lindstroem, production director Europe, are said to have left the company last week. There are no specific details of whether the executives left voluntarily or were asked to leave. While there are not many confirmed details, it is clear that Bandag is losing ground in the European market.
Continental AG is planning to spend between £22 million and £27 million on equipment and machinery at its plants in Malaysia, the company’s director of marketing and sales for passenger car replacement Europe Jurgen Schmidt told the Malaysia Star newspaper.
Hankook Tire Co, says it will select a new site for its proposed European plant by November, and is aiming to break ground next spring. According to Asian news sources, Hankook’s chief executive Cho Choong-hwan reiterated the plan to begin European production in 2007 during his speech at an international automotive industry forum, stressing the strategic importance of the European market.
Tyre cord maker Duracord (Europe) has collapsed with the loss of 70 jobs, the Manchester Evening News has reported. Durachord of Castleton, Rochdale, was previously known as Dunlop Textiles. The company’s directors called in administrators last week and the company has now gone into receivership. Phil Roberts, Rochdale branch secretary of the GMB union, said Duracord’s employees would have to apply to the government for their wages, holiday money and redundancy pay, which could be a lengthy process.
Joseph P Felicelli, executive vice president, Aftermarket products and services, has announced the appointment of Mauro Parisi to the position of vice president, Aftermarket, Europe, Middle East and Africa, effective immediately.
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