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Federal Introduces Xtramile XR01

Federal has introduced its new Xtramile XR01, a tyre designed for “reducing gas consumption”, according to the company. It also states that the tyre will feature “improved grip in a long-lasting tyre by utilising a blend of wear-resistant compound along with increased tread depth to offer prolonged tyre life.” Other features, says Federal, will include a distinctive tread pattern, four bold grooves for stability and increased water expulsion, dual layers of polyester carcass ply and strengthened sidewalls, alongside reduced road noise.

Federal dealers will begin selling 12 popular sizes, through 13- to 15-inch rim diameters from 55-70 series. These offerings comprise H- to V-speed ratings and will be available in the first quarter of 2009. A more comprehensive range will be added later.

Size Range

195/55R15
185/60R14
195/60R14
195/60R15
205/60R15
165/65R13
185/65R15
195/65R15
205/65R15
165/70R13
175/70R13
165/70R14

10th March 2009/by Tyrepress Editors

Schaeffler Pressurised to Reduce Conti Stake

The Reuters news agency has reported tha the German federal state of Lower Saxony wants Schaeffler Group to cut its stake in Continental AG to 10 per cent. At the same time, German daily Frankfurter Allgemeine Zeitung (FAZ) has reported that the banks that supported Schaeffler Group’s acquisition of Conti are discussing a possible unwinding of the transaction. According to the newspaper, the lenders are discussing a plan to absorb all the Conti stock Schaeffler currently holds. This scenario would reportedly also include diluting the stake held by the banks to less than 50 per cent by virtue of a capital increase. FAZ reported that Continental is to discuss the plan at its supervisory board meeting on 6 March.

Meanwhile Christian Wulff, chief minister of Lower Saxony told the Handelsblatt newspaper: “The owner-family can still play a small role if need be, perhaps with a stake of around 10 per cent.” On the subject of state aid Wulff said: “[It] is possible at the earliest when the company has presented a concept on how synergies of its Continental acquisition could be achieved and how the overall company would look.”

2nd March 2009/by Tyrepress Editors

Reports: Schaeffler Being Pushed Out of Conti

The German federal state of Lower Saxony wants Schaeffler Group to cut its stake in Continental AG to 10 per cent, according to Reuters. At the same time German daily Frankfurter Allgemeine Zeitung (FAZ) has reported that the banks that supported Schaeffler Group’s acquisition of Conti are discussing a possible unwinding of the transaction. According to the newspaper, the lenders are discussing a plan to absorb all the Conti stock Schaeffler currently holds. This scenario would reportedly also include diluting the stake held by the banks to less than 50 per cent by virtue of a capital increase. FAZ reports that Continental will discuss the plan at its supervisory board meeting on 6 March.

Meanwhile Christian Wulff, chief minister of Lower Saxony told the Handelsblatt newspaper: “The owner-family can still play a small role if need be, perhaps with a stake of around 10 per cent.” On the subject of state aid Wulff said: “[It] is possible at the earliest when the company has presented a concept on how synergies of its Continental acquisition could be achieved and how the overall company would look.”

2nd March 2009/by Tyrepress Editors

Hero Forza F278 Inks JMC Light Truck OE Contract

Federal’s second brand Hero has announced that Jiangling Motors has signed a deal to fit the Forza F278 light truck tyre in size 700/R16 10PR as original equipment on its commercial vehicles. The radial is built with a durable steel belt and stronger casing, designed to withstand higher loading capacity.

Initially introducing international advanced technology to the manufacturing of pick-up trucks in the mid-1980s, JMC has become one of the largest commercial vehicle enterprises in China, of which the market share of light truck reaches 28 per cent. Hero’s deal with JMC allows the brand to tap into this market potential, by placing the Forza F278 LTR so prominently.

19th February 2009/by Tyrepress Editors

Federal Confirm OE Deal with Chinese Auto Makers

Federal Corporation has announced the commencement of three OE fitments. The company’s SS657 will become original equipment on products from automobile manufacturers BYD (aka Build Your Dreams) Auto and JMC (Jiangling Motors) Landwind in Mainland China. Also fitted on a JMC sedan in size 175/65R14 is the company’s S-drive.

Federal’s SS657 is designed, says the manufacturer, for low noise levels, confident driving and a comfortable ride. It has large grooves to improve water dispersion and prevents hydroplaning in touring coupes and sedans – a feature that Federal says has ultimately led to BYD and JMC choosing the tyre.

13th February 2009/by Tyrepress Editors

Could Part Nationalisation Be an Option for Conti?

German media reports, supposedly quoting industry sources suggest Schaeffler Group is discussing the possibility of either the federal or state governments taking a direct stake in Continental AG. So far, the federal government has clearly rejected such an idea and has only indicated the possibility of potential loans or loan guarantees. Whichever way it goes, we are likely to see the outcome tomorrow 30 January as after the summit meeting between state prime ministers Christian Wulff (Lower Saxony) and Horst Seehofer (Bayern) and German Economics Minister Michael Glos in Berlin.

Meanwhile Reuters reported that Continental AG posted a full-year operating profit margin of 8 per cent in 2008, quoting “several people familiar with the matter.” The sources also said that Continental manager Gerard Cordonnier would be appointed as new Chief Financial Officer of the company.

28th January 2009/by Tyrepress Editors

Continental AG in State Aid Negotiations

Continental AG and its controlling shareholder, Schaeffler Group, are reportedly seeking aid from two German state governments. According to a Bloomberg report, German federal government isn’t directly involved in the “advanced talks” with the Lower Saxony and Bavaria state authorities. On 27 January representatives of the IG Metall trade union told reports that any state aid should be used to help save jobs and “not the private wealth of company owners Maria-Elisabeth Schaeffler and her son Georg.” The union, which represents a total of 2.3 million employees, said workers should also get a say in running the company.

Meanwhile, credit rating agency, Standard & Poor’s, has lowered Continental AG’s creditworthiness two levels to ‘BB’ from ‘BBB-‘. According to an S&P statement the decision was made following an analysis of Continental’s revised business plan and the renegotiation of financial covenants. Continental AG is currently responsible for servicing an estimated 22 billion euros of debts.

27th January 2009/by Tyrepress Editors

Nigerian Motorcyclists Wearing Scrap Tyres to Avoid Helmet Law

Nigerian motorcyclists have stumbled upon a novel new use for discarded tyres. These end of life rubber items join dried fruit shells, saucepans and paint pots as a handy substitute for those wishing to dodge a new law in Nigeria that makes the wearing of helmets compulsory. Tyre scraps, affixed to the skull with a piece of string, are proving popular with bikers who find helmets too expensive and with passengers who, to quote a Reuters news article, fear they “will catch skin disease (from the helmet) or be put under a black magic spell.”

8th January 2009/by Tyrepress Editors

PAX System Class Action Suit Settled

Michelin North America Inc. and American Honda Motor Co. have settled a class action lawsuit with consumer claiming they were misled about Michelin-produced run-flat tyres. Terms of the agreement were not released, and final court certification is expected on 14 January.

The federal consumer class action suit claimed Michelin, which made the tyres, and Honda, which outfitted certain cars and minivans with Michelin’s PAX Tire and Wheel Assembly System, failed to disclose that the tyres last half as long as standard tyres, that the tyres were “prohibitively expensive to repair and replace” and that sufficient repair facilities and stock of the tyres and other parts of the PAX system do not exist in the U.S. (Tire Review/Akron)

6th January 2009/by Tyrepress Editors

Federal Acknowledged by MSA in UK

Federal Tyres has joined the Motor Sports Association (MSA) as a fully endorsed member. The company states, “we are dedicated to innovation and deliver industry-leading products in the high performance end of the market.”

Federal’s 595 and RPM asymmetric tyre were accepted in the category 1a for road tyre; along with 595EVO as well as 595RS-R race-proven tyre in the category 1b for road legal competition tyres.

The Motor Sports Association is recognized as the sole motor sport governing body for the United Kingdom. It controls the technical and sporting rules across the various disciplines with over seven hundred motor clubs choosing to share agreed codes of practice under one umbrella. Related information will be officially published in MSA’s 2009 Year Book of Regulations.

22nd December 2008/by Tyrepress Editors

US Battery Makers and Research Centre Form Alliance

Leading US battery companies have teamed up with one of the country’s largest national laboratories to form the National Alliance for Advanced Transportation Battery Cell Manufacture. The object of the alliance is to manufacture advanced lithium ion battery cells for transportation applications in the United States.

The founding members of the Alliance include 3M, ActaCell, All Cell Technologies, Altair Nanotechnologies, Dontech Global, EaglePicher Corporation, EnerSys, Envia Systems, FMC, MicroSun Technologies, Mobius Power, SiLyte, Superior Graphite, and Townsend Advanced Energy. Additional battery developers and materials suppliers are anticipated to join the Alliance. The US Department of Energy’s Argonne National Laboratory, a national research laboratory and leading developer of new battery technologies, has been active in encouraging the Alliance and will continue to serve in an advisory role as the Alliance begins operations.

19th December 2008/by Tyrepress Editors

Troubled Chrysler in New GM Talks, Closing All Plants

Even as Chrysler announced that it was closing all of its plants at least through mid-January, word comes through that merger talks between the privately held automaker and troubled GM have resumed. Chrysler owner Cerberus Capital Management has signaled its willingness to give away part of its ownership in the automaker, according to the Wall Street Journal, which cited parties close to the situation, and merger talks with GM have restarted.

According to the report, Cerberus took the initiative to restart negotiations, which broke down a few weeks ago amid hope of a massive bailout by the Federal government. Earlier yesterday, Chrysler officials said the company was closing down all of its 30 North American plants “until at least 19 January.” The closings will kick in at the end of the day tomorrow.

In a new report, Moody’s Investor Services Inc. said if the U.S. government failed to intervene and all three automakers were to collapse into bankruptcy, it would lead to an estimated 2.5 million job losses by 2010 in the United States, cost the government there up to $250 billion, and cost the car companies about 20 per cent of their combined marketshare. Even a small bailout plan, such as that rejected by Congress last week, said Moody’s, would not be enough to allow GM or Chrysler to recover long-term. (Tire Review/Akron)

18th December 2008/by Tyrepress Editors

Delticom Growing in Europe Despite Weak Market Conditions

Delticom AG’s client base may grow by as much as a quarter in 2009. In an interview, company CFO Frank Schuhardt said that Delticom’s retail customer base could reach three million by the middle of the year, compared with 2.4 million at the end of September 2008. Sales at the German company for 2008 will be “in the middle” of a range of 240 million euros to 260 million euros, he added.

18th December 2008/by Tyrepress Editors

JK and Ceat Join Apollo in Indian Price Cuts

Following news that Apollo has cut prices across the board in line with the four per cent reduction in India’s Central VAT rate, Ceat and JK Tyre have announced similar cuts of 3.6 and 3 per cent respectively on the average price of their products.

Apollo’s chairman, Onkar Kanwar wrote in a statement, following yesterday’s announcement on India’s cenvat, “We will be passing on this reduction to our customers, strengthening the measures that are being taken at a federal level.

“We do hope this, and other measures together, will boost production and consumer spending,” he concluded. JK’s director, AS Mehta voiced similar hopes: “Once the end user is benefited, it should benefit the entire industry.”

9th December 2008/by Tyrepress Editors

Reifen China off to a Successful Start

The organisers of the Shanghai based Reifen China 2008 exhibition have reported a successful first day. On December 4 more than three thousand trade visitors attended the show at the Shanghai New International Expo Center, an increase of 25 per cent on the previous year. Show hosts CURC (China United Rubber (Group) Company) and Messe Essen, along with major sponsor BRV (Bundesverband Reifenhandel und Vulkanisieur-Handwerk – the “Federal Association of the Tyre Trade and the Vulcanisers’ Skilled Trade”) expressed their satisfaction with this result, particularly against the background of current global economic unease.

4th December 2008/by Tyrepress Editors