Europe Archives - Page 154 of 179 - Tyrepress

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Conti’s Discusses Building New Factory

Continental is currently considering plans to build a new tyre factory in Europe, according to Dr Alan Hippe, chief financial officer. If demands continue to be as strong as they are today, it would be the next logical step, said Dr Hippe speaking at the Geneva Motor Show. Such a new facility would have to be built in Eastern Europe, possibly in Lithuania, writes the Berliner Morgenpost. Recently Continental invested a considerable amount of money in Eastern Europe in order to cut production costs.

Deutsche Bank analysts reported that Continental’s presentation was both “bullish“ and “striking.” In his presentation, Dr Hippe explained that Continental had revised its ESP penetration expectations for the US market to about 18 per cent in 2006, lifting the volume target to 1 million units. The CFO also suggested that the German manufacturer could be in a net cash position as early as the end of 2005. According to the analysts, “the bottom line is the growth and free cash story continues (at least 600-700 million euros per year).”

3rd March 2005/by Tyrepress Editors

Changes at Beru’s Communications Department

Beru has appointed a new corporate communications and manager. Gala Conrad will be responsible for investor relations and corporate communications and will replace Stephen Hass, who left to company for another position in the industry. Before joining Beru Ms Conrad worked as a journalist in Silicon Valley and was later in charge of communications at Aston Tate and 3Com in Central Europe and was responsible for corporate and capital market communications at IXOS Software AG.

2nd March 2005/by Tyrepress Editors

Kwik-Fit to be Floated or Sold

Private equity group CVC Capital Partners, the owner of Kwik Fit, has appointed Deutsche Bank to advise on a possible sale or floatation of the retail business. CVC said it and the German bank would work together on determining the best course for Kwik-Fit, according to a BBC report. Kwik-Fit is expected to be valued at more than £700 million with some estimates reaching £1 billion. Analysts report the company has strong cash flows and would make an attractive takeover target.

“Deutsche and CVC are going to evaluate the strategic options for Kwik-Fit, but no decision has been taken yet in terms of whether it will be a trade sale or an IPO (initial public offering) or in terms of timing,” said a spokesman for CVC. Famous in the UK for its “You can’t get better than a Kwik-Fit fitter” advertising slogan, Kwik-Fit is Europe’s largest independent auto parts, repair and replacement specialist. It has some 2,300 outlets including its mainland Europe subsidiaries – Speedy in France and Pit Stop in Germany.

28th February 2005/by Tyrepress Editors

UK Vehicle Production Slips

UK car production fell 3.7 per cent or 5,286 units in January 2005, reports the SMMT. At the same time output for the home market climbed 4.3 per cent. However, production for export markets fell by 7.5 per cent, compared to a growth of 12.4 per cent a year ago.

28th February 2005/by Tyrepress Editors

UK Tuner Grand Prix

The Tuner Grand Prix is making its debut in the UK this September, in association with Vauxhall VXR and Milltek Sport. The event is being hailed as a chance to see the UK and Europe’s tuning companies show what they do best – make the fastest cars money can buy.
Castle Donington will host the race, which will see tuning companies competing for the title of Winner UK Tuner Grand Prix.

There are different classes and an overall unlimited class so that every vehicle type has the opportunity to win a title and trophy, explains John Thorne of Milltek Sport, co-sponsor of the event.

“If you’re involved in modifying cars you have to be there to show the World what you can do, the Trade Village will be at the centre of the event in the Paddock area and is selling out fast and if you’re into tuned motors then there will no greater event of the year than the Milltek Sport UK Tuner Grand Prix,” says the company.

28th February 2005/by Tyrepress Editors

Bridgestone: Cautious as Usual

Analysts were not surprised by Bridgestone’s recently posted operating profit increase of 7.9 per cent, according to a Deutsche Bank report. At the same time as posting its 2004 full year results, the company predicted a downturn in operating profit of 14 per cent in 2005. The analysts’ verdict? Cautious as usual.

“The numbers did not surprise, as usual beating the company targets. They were driven by higher volumes in Europe and the US and an improved product mix,” the report says. The Deutsche Bank representatives continued by commenting that Bridgestone’s projected full year profit dip has accounted for higher raw material costs, but not the effect of passing these on to costumers. According to the analysts Bridgestone’s conservative estimates reflect a desire to reinforce its negotiating position with synthetic rubber and chemical material suppliers; underscore how tough the earnings environment is in order to make a stronger case for its own price increases; and gives extra leverage for unresolved labour contract issues with North American unions.

22nd February 2005/by Tyrepress Editors

Continental Closes Akron Test Centre

Continental has said that it will close its Akron tyre testing centre, its last operation in the city. Around 20 people will loose their jobs with most work being transferred to Europe, the Associated Press has reported. Continental acquired the test centre in 1987 when it bought the tyre operations of the former General Tire Company. One of the main features of the test site was a large wheel that could run tyres at speeds of up to 400 miles per hour.

22nd February 2005/by Tyrepress Editors

Bridgestone UK Appoints New Marketing Director

Bridgestone UK has appointed Junichi Kumano as marketing director at Bridgestone UK. Mr Kumano has worked for Bridgestone since 1988 in countries including Singapore, India, Vietnam, and his home nation of Japan in various sales and marketing roles. His most recent position was manager of export sales at Bridgestone Japan. His new post is his first outside of Asia.

“I am honoured to have joined Bridgestone UK as it has always been an ambition of mine to work in Europe,” said Mr Kumano. “I am looking forward to working with each member of the marketing department to ensure we achieve the company’s objective of ‘steady, profitable growth’ while continuing to meet our customers’ needs.” Mr Kumano replaces Chikuma Otsuki, who is now director of sales and marketing for commercial products at Bridgestone Europe.

17th February 2005/by Tyrepress Editors

Matador Truck Tours Europe

Matador is celebrating its 100th anniversary by touring western Europe with its presentation truck. The company first used its presentation truck in 2004 and will now use it to remember its long history and highlight its objectives for the future. The truck provides a suitable environment for presentations, training activities, business negotiations and has exhibited at exhibitions and motorsports events.

Last year the truck embarked on its central and southern Europe tour with the intention of focusing on training markets of the Czech Republic, Hungary, Poland and Greece. Mr Reich, head of the marketing department of Matador Tyre division described last year’s tour: “It is understood that our objective was to get closer to our customers. And I could say from my experiences of last season that this form of presentation got quite a warm welcome from our business partners.“ The presentation truck will be touring during April and has planned stops in France, Belgium and the UK.

16th February 2005/by Tyrepress Editors

Yokohama Announces 3 per cent Sales Increase

In the first three months of the 2005 financial year Yokohama reported 305.9 billion yen (£1.54 billion) of net sales, a three per cent increase on the previous year. The company explains that strong overseas sales offset the negative impact of the high yen. Results for the period ended 31 December 2004, also showed that operating income dropped to 17.5 billion yen (£88 million). At the same time net income decreased 6.9 per cent to (roughly £41.23 million)

Yokohama reports that tyre sales were “solid” overseas, especially in North America, Asia and Europe, while replacement sales in Japan grew. Sales of the Tire Group therefore increased 4.3 per cent to 226 billion yen (£1.14 billion). The management maintains its full year projections, saying that Yokohama will record a 4.6 per cent gain in net sales, a 9.1 per cent increase in operating income, a 4.3 per cent rise in ordinary income and a 3.2 per cent drop in net income.

16th February 2005/by Tyrepress Editors

RubberNetwork Announces 2004 Results

RubberNetwork LLC, a tyre and rubber industry consortium owned by nine of the largest global tyre and rubber industry companies, has announced its year-end results.

The company reported cumulative savings of over $230 million (£121 million) since its inception. The company also noted that during 2004 it connected over 140 direct material suppliers to RubberNetwork members through RubberNetwork’s supply chain supplier network in Japan, Europe, and North America.

16th February 2005/by Tyrepress Editors

Motorcycle Tyres

More than five million motorcycle tyres are sold every year in Western Europe, making motorcycle tyres an extremely important niche market. In addition manufacturers are interested in this area because of the kudos influential companies can gain. In the next issue of Tyres & Accessories we take a close look at what’s going on and ask: “What’s coming next in the motorcycle tyre business?”

15th February 2005/by Tyrepress Editors

Recauchutagem Launches Fedima Sirocco

Portuguese company, Recauchutagem 31, has released a new range of 4×4 products. According to the company, the range includes products for road and off road usage, going some way to fulfilling its mission to have “the world’s most diversified production.”

The new range’s flagship product, the Fedima Sirocco, is for use in 4×4 competitions and is said to have high traction power with an “extremely aggressive pattern.” At the moment there are four sizes available: 750R16, 235/85R16, 35/10.5R16 and 900R16. In April and May the Fedima Sirocco range will be extended to include five new sizes: 215/80R15, 215/75R15, 265/70R15, 31/10.5R15 e 205R16. With its new product, the company is aiming to strengthen its position in a market, which it says has high growth potential, with the number of enthusiasts rising each day. According to Rechcauchutagem, its 4×4 tyres have brought success in some of the of the harshest all-terrain races across Europe, with several international victories.

11th February 2005/by Tyrepress Editors

Alcoa Wins Hungarian National Excellence Award

Alcoa’s Hungarian wheel plant won the 2004 National Quality/Excellence Award, the most prestigious business excellence award in Hungary, the company has announced. Alcoa Wheel Products Europe (AWPE) was awarded the national prize by Hungarian Prime Minister Ferenc Gyurcsany during a recent ceremony.

10th February 2005/by Tyrepress Editors

Dunlop Extends its MotoGP Involvement

Team d’Antin MotoGP has announced that it will use Dunlop tyres in 2005. The team will enter Roby Rolfo on a Ducati Desmosedici GP04. The 2005 MotoGP World Championship starts in Jerez on 10 April.

Team owner Luis d’Antin and Roby Rolfo recently visited Dunlop Motorsport’s European R&D headquarters in Birmingham. “We are delighted that Dunlop has decided to support our programme,” confirmed Luis d’Antin “it will be a very interesting challenge for our team to help Dunlop move forward with their MotoGP tyre development.”

9th February 2005/by Tyrepress Editors