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Sumitomo rubber to build 400-store network in China

Sumitomo Rubber Industries Ltd. intends to establish a sales network of more than 400 stores in China within two years in and plans to take a 10 per cent share of the Chinese tyre market by 2010. The company, whose first tire factory in China will go onstream in April, aims to develop a customer base in China, where it currently has almost no sales. Sumitomo Rubber teamed up with Tyre Pacific (HK) Ltd. of Hong Kong to create a joint venture to oversee sales in China. The joint venture, SRI-TP JV Co., is capitalized at 6 million US dollars.

16th December 2003/by Tyrepress Editors

Yokohama plans tyre plant in Thailand

Yokohama is set to invest 5.5 billion Yen (US$ 50.8 million) to build a new factory in Thailand, producing steel radials for trucks and buses. The new factory – Yokohama’s second for CV tyres outside Japan (the first is in the USA) – will initially produce 300,000 tyres annually, with this figure doubling to 600,000 units by 2007. The tyres will be marketed world-wide.

5th December 2003/by Tyrepress Editors

Fintrade pulls out of wheel manufacture

Alloy wheel manufacturer Fintrade has taken the decision to run down and cease production of its own make alloy wheels. The company says that it cannot compete with products from emerging markets and that the closure of the factory was the only route open to avoid financial ruin. The company has announced an orderly run down of production and will be liquidating the assets of the business to service debts in order of preference. It is expected that there should be no shortfall at this point in the proceedings.

2nd December 2003/by Tyrepress Editors

ThyssenKrupp Deepens Ties With Alfred Herbert

ThyssenKrupp Elastomertechnik GmbH, the world’s largest manufacturer of tyre machinery and a part of the Euro 35 billion ThyssenKrupp group, has deepened its alliance with the RS Lodha-managed Alfred Herbert India Ltd by signing an additional technical collaboration agreement.

2nd December 2003/by Tyrepress Editors

Conti’s Factories Receive Quality Awards

A double success for Continental: The mould factory of Barum Continental (VFB) in Otrokovice and the Continental Teves factory in Jicín have been awarded the “National Quality Award 2003” of the Czech Republic in Prague. In addition, the Czech prime minister appointed Jicín’s plant director Ladislav Drázný “Quality Manager of the Year 2003”. Jicín is Continental’s only factory in Europe producing brake boosters. Since 2002 the staff has worked strictly according to the guidelines of the European Foundation for Quality Management, says Continental in a press release. Thus Jicín achieved relevant goals for customers in areas such as product quality, price and delivery satisfaction, plus the staff became better qualified and more strongly motivated. “This award shows that we are on the right track. We will continue to increase our competitive ability prior to European Union entry,” promises the plant director Drázný. The award was a confirmation for the 330 employees of the mould factory in Otrokovice, Drázný continues. Through consistently improved efficiency and quality as well as responsible personnel management the VFB factory has developed to become one of the leading suppliers for passenger car tyre moulds within the Continental corporate group. “We owe this award to a large extent to our employees,” says VFB chief Ladislav Zemko.

26th November 2003/by Tyrepress Editors

Goodyear asks for more time (update)

The deadline for Goodyear to release its financial results for the third quarter has been extended from last Friday to this Wednesday, after the tyre maker asked the Securities and Exchange Commission for more time to finalise the figures. Goodyear also asked for more time to complete the restatement of its accounts for the past five years. The company has indicated that its third quarter loss will be in the order of $106 million, or 60 cents per share, which is higher than some analysts forecast. The loss will be Goodyear’s eighth quarterly loss in the past 12 quarters and the company says that its loss for the first nine months of this year will be between $310 million-$335 million. A Goodyear spokesman would not comment on whether the 3Q figures would include any special charges covering factory closures or other restructuring costs.

18th November 2003/by Tyrepress Editors

Ellerbrock fire finally extinguished

After more than 40 hours, the fire at the Ellerbrock factory in Henstedt-Ulzburg, north of Hamburg, has finally been extinguished. The manufacturing plant has been totally destroyed, with the cost of damage running to more than 10 million Euro. The cause of the fire is still unknown.

10th November 2003/by Tyrepress Editors

GM plans further Chinese expansion

GM is to extend its factory at Shanghai to increase capacity from 500,000 units to 760,000 by 2006. No cost has been revealed, but press estimates are around $241 million. Another GM joint venture, manufacturing light trucks, is also set to more than double capacity by 2006, to 336,000 units.

5th November 2003/by Tyrepress Editors

Hayes Lemmerz factory re-opens

The Hayes Lemmerz wheel factory at Huntington, Indiana, which was closed after an explosion on October 29th, has re-opened. Three workers were injured – one fatally – in the accident, the cause of which is still being investigated.

4th November 2003/by Tyrepress Editors

Yokohama to extend Chinese factory

Yokohama has announced that it is to spend US$26 million to double capacity at its Chinese factory to 1.4 million tyres a year by the end of 2004. Originally the timetable for the expansion was the end of 2006, but increased demand has prompted Yokohama to bring the plan forward.

31st October 2003/by Tyrepress Editors

Explosion closes Hayes Lemmerz factory

The Hayes Lemmerz cast aluminium wheel factory at Huntington, Indiana, has been temporarily closed after an explosion, the cause of which is not yet known. Staff were evacuated from the plant, but there were three injuries, including one fatality.

31st October 2003/by Tyrepress Editors

Social award for Alcoa factory

The Alcoa-Kofem factory in Székesfehérvár, Hungary, is the first-ever recipient of the Good Corporate Citizenship and Social Responsibility Award, from leading Hungarian business and economic journal Figyelo. The Alcoa-Kofem factory produces forged aluminium truck wheels.

29th October 2003/by Tyrepress Editors

JV between Stamford Tyres and Sumitomo in China

Singapore-based Stamford Tyres is entering into a joint venture with Sumitomo Rubber Industries to produce passenger car radials in a new factory in China, being built by SRI. SRI will hold 60 per cent of the JV. The factory should begin production in the first quarter of next year and will eventually have an annual capacity of three million units, destined for both domestic and export markets.

17th October 2003/by Tyrepress Editors

Pirelli hopeful of Petit Le Mans success

This weekend sees the finale of the American Le Mans Series (ALMS), the Petit Le Mans. The 1,000-mile or 10-hour race is being held at Road Atlanta, not far from Pirelli’s MIRS factory at Rome, Georgia, and Pirelli’s hopes are riding on the Ferrari 550 Maranellos of Team Olive Garden. Pirelli won the inaugural Petit Le Mans event in 1998.

17th October 2003/by Tyrepress Editors

Goodyear shuts down belt manufacture

Goodyear is to discontinue operations at its conveyor belt factory in Bowmanville, Ontario next April. The move, says Jim Pecorelli, director of global manufacturing for Goodyear’s Engineered Products division, is to “consolidate production to reduce our cost base and maintain an industry leading role.” The phasing out begins immediately and will eventually affect 160 associates. The Bowmanville plant has been part of Goodyear’s operations since 1910.

17th October 2003/by Tyrepress Editors