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What is the Future For Independent Businesses?

(Akron/Tire Review) Special Report by Amy Antenora of AMN – With a number of critical issues currently challenging the automotive aftermarket – SKU proliferation, auto dealer expansion and raw material costs, to name a few – there was no lack for topics of discussion at this year’s Global Automotive Aftermarket Symposium (GAAS), held this week in Chicago.

Bob McKenna, president and CEO of the Motor & Equipment Manufacturers Association, moderated a panel discussion posing questions about a number of critical issues such as product demand, brand equity, counterfeiting, vehicle maintenance, Right to Repair and the complexities of aftermarket distribution.

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Yokohama to Build Thai Plant

(Akron/Tire Review) Yokohama Rubber Co is to build a new tyre plant in Thailand to produce passenger and light truck/SUV tyres. The company said it would begin construction of the 11.5 billion yen facility this October, which will be located adjacent to its current Yokohama Tire Manufacturing (Thailand) Co. facility there. Yokohama said the new plant, with an initial capacity of 1.4 million tyres annually, will begin production in November 2006. The plant will be designed, the company said, to allow for further expansion as warranted.

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STS Norwich Appoints Assistant Manager

Leon Medley joins STS Holburn Tyre and Exhaust Centre at Sprowston Road from his previous position as mechanic at STS in North Horsham. In his new role Mr Medley will be responsible for general day to day running of the centre, focusing on improving service standards to ensure customer satisfaction.

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JK Tyres to Expand Production, Build New Factory

JK Tyres is planning to expand the production capacity of its Banmore, Gwalior facility in Madhya Pradesh. According to India’s Business Report, the company will invest 2 billion rupees (roughly £24.2 million) over the next three years in the expansion. The company has reportedly already invested 700 – 800 million rupees in the facility.

In addition to the expansion plans, the company also intends to set up another plant in the area. The announcements come despite a dip in Indian tyre industry profits due to increasing raw material costs.

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Bridgestone UK Acquires Bulldog Remoulds

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Bridgestone UK Ltd has acquired Bulldog Remoulds (Holdings) Ltd, the companies have announced in a joint statement. The deal is said to have been the subject of discussion for “some time.” Both parties agreed that the pricetag attached to the purchase would remain “commercially confidential.”

The purchase took effect on 29 April and will not affect existing trading arrangements with Bulldog customers and suppliers, the companies have confirmed. Bridgestone says the acquisition will strengthen its long-term capability to look after and expand its Truck Fleet customers within the UK.

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Continental Pleased with Situation in Czech Republic

Looking back at its decision to operate a plant in the Czech Republic, Continental AG says it is pleased with the situation in the country. The company reports that is plans are on track and it has noticed some real benefits of operating in this area. For example, the elimination of border controls on what used to be the EU frontier has noticeably reduced transport times. What’s more, the paperwork involved and the costs entailed are also said to have been cut. Purchasing is also benefiting from improved material procurement from all of Eastern Europe, the company says. “Continental AG decided in favour of an engagement in the Czech Republic 12 years ago, and thus very early on. This has long since proved to have been a smart move. The EU’s eastward expansion makes the location even more attractive,” said Manfred Wennemer, chairman of Continental’s executive board, on the occasion of Czech president Vaclav Klaus’ visit to the company’s Otrokovice factory.

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Kumho Expands Presence in Chinese Market

(Akron/Tire Review) Kumho Tire Co has completed the expansion of its Nanjing, China tyre plant, more than doubling its annual production in China. The Nanjing plant, along with a new Kumho tyre factory in Tianjin, will result in an expected annual production capacity of 18 million tyres a year by 2007, according to Kumho. The Nanjing plant currently produces 5 million tyres a year, and the expansion will boost annual capacity to 12 million tires. Kumho also said it was considering building a third plant in China.

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Cooper Feels Effects of Arkansas Strike

Cooper has reported a sharp drop in profits as it feels the effect of the month long strike at its Arkansas plant. Publishing its first quarter results the company said is made $5.2 million or 7 cents per share for the period ended 31 March, compared with $24.3 million (32 cents per share) the year before.

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Yokohama Tire Philippines Starts Expansion Project

Yokohama Tire Philippines has started its P5.8-billion (£56.6 million) expansion project in the Clark economic zone.

This, the third expansion project of the plant is designed to boost production to 20,000 tyres a day by September 2006 from its present 9,000 tyres a day capacity.

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Investcorp Acquire American Tire

Investcorp, investment group, has officially acquired American Tire Distributors, one of the leading distributors of tyres in the United States.

American Tire has 71 distribution centers and a fleet of 700 trucks providing coverage to 36 US states. It offers 60,000 products serving an average of 35,000 customers each month says the investment company. Annual revenue is $1.4 billion giving the company an approximate six per cent share of the total $24.3 billion market for replacement tyres in the US.

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New York Auto Show Just Another Example of Pirelli’s Growth

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At the beginning of the year, Guy Mannino, President and CEO of Pirelli Tire North America, announced 2005 as “The Year of OE at Pirelli.” With the New York International Auto Show just completed at the Javits Center in New York City and with major auto shows in Anaheim, Los Angeles, Detroit and Chicago having run their course, it’s instructive to review the significant OE in-roads Pirelli has made in this it’s fourth year of aggressive expansion in North America.

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Alliance Records Profit Following Four Years of Losses

(Akron/Tire Review) After four successive years of losses, Alliance Tire Co. reported a net profit of $0.9 million for 2004 in its newly released financial results. The company ended 2003 with a net loss of $13.1 million. But, in 2004, gross profits increased to $31.1 million, compared to $20.4 million in the previous year.

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MRF Plans to Protect Profits

(India/Rubber Asia) The profits of MRF, one of India’s largest tyre makers, are continuing to come under pressure. With raw material costs showing no signs of easing, the company is resisting attempts to pass cost pressures onto consumers. Chairman and MD, K M Mammen summed up the situation when he admitted that the company was searching for areas where is could rein costs in to “protect our profits.”

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Michelin’s Dundee Expansion Gets Underway

Work has begun on Michelin’s £1.2 million extension of production facilities at its car tyre plant in Dundee, the Evening Telegraph and Post has reported. The project represents the first phase of a planned £4 million investment programme aimed at increasing the daily output of tyres from the Baldovie complex by 20 per cent by 2007. The new facility is due to become operational in October.

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