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RMA Quits TIC

In the UK, the Retread Manufacturers Association (RMA) has announced that it is to leave the Tyre Industry Council (TIC). RMA Director Sheila Ikin said that, while the association still supported the principles of the TIC, it felt that it was more appropriate to concentrate its resources more directly on retreading and the RMA’s growing involvement in Europe with the Bipaver retreading division. Brian Smith, TIC Chairman, said that he regretted the withdrawal of the retreaders, but he understood that changing circumstances have presented them with different challenges and opportunities.

15th January 2003/by Tyrepress Editors

Nokian and Matador To Commence Contract Manufacturing

Company News, International News, News

Nokian Tyres plc and Matador AS are signing a contract manufacturing agreement. This transaction will mean that Matador will produce Nokian branded speed categories S, T, and H car summer tyres at its factory in Slovakia. The tyres will be sold in Eastern European markets. The production target for 2003 is 100 thousand Nokian tyres with initial sales taking place during the first quarter of the year. Volume manufacture will increase to 300 thousand tyres by the end of 2005.Through contract manufacturing Nokian will continue to ensure its growth potential in Eastern Europe. Production capacity at the company’s factory in Finland will be freed to produce ultra high performance tyres. The agreement will be valid until the end of 2005 and after that on a one-year basis.

15th January 2003/by Tyrepress Editors

8,000 Jobs Go At Alcoa

Alcoa is to cut 8,000 jobs after posting a fourth quarterly loss of 223 million dollars. The loss included charges of 95 million dollars for restructuring of operations serving the aerospace, automotive and industrial gas turbine sectors. The restructuring mainly affects Europe and South America. Alcoa has also announced that it is to sell its non-core speciality chemicals and packaging equipment businesses.

14th January 2003/by Tyrepress Editors

Bekaert Grows In Central Europe

NV Bekaert SA (Kortrijk/Belgium) has announced that it has made an agreement with Penta Investments Limited and Majetkovy Holding a.s. to acquire 100 % of the shares of Drotovna Droty a.s. and Drotovna Kordy a.s. in the Slovak Republic. Both Drotovna Droty a.s. and Drotovna Kordy a.s. were incorporated in 1999 as a result of a restructuring of Drotovna at Hlohovec, 75 km North East of Bratislava. The present owners have been going through a rationalisation process which will give Drotovna Droty a.s. a capacity of approx. 60,000 tonnes of various steel wires for the Central European market and Drotovna Kordy a.s. a capacity of approx. 9,000 tonnes of tire cord and approx. 8,000 tonnes of bead wire. The acquisition of both companies will increase Bekaert’s market share and strengthen its competitive position in the fast growing Central European market. The completion of the purchase is subject to the approval of the Antimonopoly Office of the Slovak Republic and the full implementation of the rationalisation programme.

10th January 2003/by Tyrepress Editors

HiperImperio: Portugal’s Rising Star

The Imperpar Group has been founded on the tyre business and tyres accounted for around 70 per cent of the Group’s gross revenue in 2001. Consequently, HiperImperio is the core element of the group though Managing Director António Barros dos Santos expects to see the emphasis gradually change by 2004. Tyres will remain the core business at 60 per cent of revenue, but other sectors of the business are expected to grow at a greater rate.The key targets for the tyre business will be to develop market share in the Iberian Peninsula, particularly in Spain. He sees no immediate overseas investment. Development will be undertaken by acquiring existing independent businesses. Dos Santos: “We also have a franchise operation. These Club Auto Box outlets are not owned by us but are effectively controlled by us. There are currently about 20 Club Auto Box franchises and this is another sector through which we can expand. We also have 12 new shops opening in the New Year throughout Portugal. Our retail presence in Spain is spread with three outlets in Galicia, one in Valladolid, three in Madrid, 5 in the Balearics and 12 in the Canarians Islands. But there is still room for a great deal of development in the Spanish market. We sell to over 300 dealers throughout Portugal and 100 in Spain.HiperImperio has also introduced its own brand passenger car tyre under the Rolltec name, produced by a global tyre manufacturer to international standards. Currently, there is a restricted range of fast moving sizes but the range is expected to expand in the coming year. HiperImperio uses this brand as its own in Portugal and sells it exclusively through its own outlets. However, its own distribution companies sell the brand on a global scale and it is available to other distributors in European markets for national distribution through Europe as a private brand.The business was built around the retread industry and astute business development has taken the Imperpar Group from carcasses and retreading to a multi-discipline business playing on a global market. However, retreads still play an important part in the Group’s development and although there is currently less emphasis on retreads in the tyre division than there has been in the past, retreads still account for some 15 per cent of revenue.

9th January 2003/by Tyrepress Editors

Changes At Bridgestone USA

Noburo “Tim” Kawakami, president of Bridgestone/Firestone manufacturing operations in the USA, is to retire on March 31 next year. His place will be taken by Masao Wada, currently manager of the factory at Aiken County, South Carolina, and succeeding Wada will be Mike Rose, operations manager at the facility. In keeping with events in Europe, the American subsidiary is changing its name, from Bridgestone/Firestone Americas Holding to Bridgestone Americas Holding.

30th December 2002/by Tyrepress Editors

Amcast 1st Quarter Results

Amcast Industrial Corp. has reported results for fiscal 2003 1st quarter. Sales were up 15 per cent at $155.8 million (1Q 2001: $135.2 m). The net loss was $7.2 million ($5.5 m). Adding the cumulative effect of an accounting change increased the net loss to $53.7 million. North American Automotive sales were up 29 per cent while sales at Speedline in Europe rose 13 per cent. Operating expenses decreased by 2 per cent in the quarter, which Joseph R. Grewe, President and COO, described as “encouraging”.

18th December 2002/by Tyrepress Editors

Western European Car Sales Fall In November

Ahead of the official figures, analysts are predicting a fall of 6 per cent in November for sales of cars in Western Europe. All of the five major markets showed a drop in sales. France was down 10 per cent, the UK down 6.8 per cent, German sales fell 6 per cent, Spain was down 8.7 per cent and Italy showed a small fall of 1.3 per cent. Among the car manufacturers, the only positive growth (+10 per cent) was for the Japanese companies, notably Mazda, Mitsubishi and Subaru. Ford was next best, showing a decline in sales of only 1.9 per cent. The worst performers were Fiat and BMW (both down around 20 per cent).

11th December 2002/by Tyrepress Editors

Loss And Layoffs For Pirelli

Pirelli posted a net loss for the third quarter of 325 million Euros, compared with a profit of 15 m Euros in 3Q last year. Chairman Marco Tronchetti Provera revealed that the company will close six factories and lay off 2,400 staff, representing 6 per cent of the workforce. Of the factories to close, three make telecommunications cables and three make energy cables. Tyre division results were good and the energy unit broke even, but neither could compensate for the poor performance of the telecommunications.

12th November 2002/by Tyrepress Editors

Difficult Year For SmarTire

The Company reported a net loss of $6.8 million ($0.41 per share) 2002 compared with a net loss of $5.5 million ($0.39 per share) in 2001. Gross revenue for 2002 totalled $1.0 million, up from $0.8 million for 2001.

28th October 2002/by Tyrepress Editors

Michelin Sales Up, Revenue Down

Michelin’s third quarter figures reveal that revenue during the quarter fell 3.2 per cent. However, ignoring currency exchange rate variations, sales increased by 2.7 per cent. Sales for 3Q were 3.86 bn Euros. In unit terms, Michelin’s passenger car tyre unit volume sales in Europe increased by 2.5 per cent (replacement sales + 8 p.c, OE sales -8 p.c). In the USA, car tyre unit replacement sales fell 5 per cent, OE sales rose 11 per cent. Latin America and Asia showed double digit growth in both replacement and OE volume. In truck tyres, there were gains for Michelin in Europe and the US for both replacement and OE.

26th October 2002/by Tyrepress Editors

Bandag Buoyed By Lower Costs

Bandag has released its third quarter figures, which show a net income of $19.6 million (3Q 2001: $14.7 m). While sales decreased by 5 per cent in 3Q, costs of products sold fell by 8 per cent, thus improving margins. In Europe, sales were down 10 per cent by volume, but rose slightly in value, due to favourable currency exchange rates. For the first nine months, Bandag is showing a loss of $14.7 m, but this includes a one-off write-off of $47.3 million for an accounting change. Without this, Bandag’s nine month earnings would have risen by $0.1 m. CEO Martin G. Carver said that he hoped that 3Q represented stability in the commercial tyre industry and that recovery could begin next year. However, he warned that the favourable costings so far this year are likely to change, with increases in raw material prices.

25th October 2002/by Tyrepress Editors

Asia Vital To Auto Industry – Report

Automotive consultants Autopolis pinpoint Asia as “critical” to the world’s car and truck manufacturers in the coming years. While sales are expected to continue falling in Europe and North America, over the next decade sales in Asia (excluding Japan) will grow at over seven times the global average, autopolis predicts, with the fastest growth in China and Thailand. Sales of vehicles in China for the year 2010 are predicted to be 4.75 million; more than double the figure for the year 2000.

14th October 2002/by Tyrepress Editors

Car Manufacturers In Joint Procurement Plan

Hyundai, DaimlerChrysler and Mitsubishi are said to have held talks exploring ways to jointly develop and purchase parts. The procurement talks were held in Hyundai’s Seoul HQ and covered parts purchased in the US, Japan and Europe in addition to South Korea.

14th October 2002/by Tyrepress Editors

Price-Fixing Investigation Into Chemical Firms

Three companies which supply chemicals for tyre manufacturing are being investigated for possible price fixing. Investigations are on-going in both the USA and Europe into Bayer AG, Flexsys NV and Crompton Corp. Experts estimate that sales of rubber-processing chemicals in the USA are worth around $900 million annually.

11th October 2002/by Tyrepress Editors