Firestone Archives - Page 49 of 54 - Tyrepress

Posts

Fleet Contract For Bridgestone/Firestone UK

Bridgestone/Firestone UK has won the contract for the sole supply of tyres to the BRS commercial vehicle rental fleet. The fleet consists of around 3,000 vehicles, ranging from 3.5 tonnes to 44-tonne tractor units and will now follow a policy of using Bridgestone new and retread tyres. The three-year contract was won against fierce competition and it is the first time that BRS has used a single tyre supplier. The contract will be serviced through Truck Point, the 220-depot organisation of independent tyre dealers established by Bridgestone/Firestone UK.

30th November 2001/by Tyrepress Editors

Jittery Ford Drop General Ameri*550 AS

Ford has reacted quickly to the NHTSA defect investigation into the General Ameri* 550 by dropping the brand from its replacement campaign. The General Ameri*550 was one of the brands being used to replace the recalled Firestone Wilderness ATs which have been deemed unsafe by Ford. However, Ford stated that the tyre was “performing well” on the F-series pick up, where it is fitted as original equipment.

30th November 2001/by Tyrepress Editors

Temporary Pay Cut For Bridgestone Board

Following the profits warning issued by Bridgestone, the company’s directors have taken a 30 per cent pay cut for four months and there will be no bonuses for senior executives. President Yoichiro Kaizaki said that there are no plans to reduce wages of workers in the USA, despite the fact that Firestone is expected to record a loss this year of US$ 500 million. Looking at the prospects for the Bridgestone group, Mr. Kaizaki predicted a net profit for 2001 of 48 billion Yen.

30th November 2001/by Tyrepress Editors

Ill Wind Might Assist Rubber Industry

The fall out from the Firestone/Ford debacle may not only assist tyre manufacturers in increasing market share at the expense of Bridgestone Firestone, but the natural rubber market may see a boost in demand. An estimated 39,000 tonnes of natural rubber will be needed to replace the 13m tyres being recalled. Traders expect prices of natural rubber to start rising as production is increased to meet the sudden demand for replacement tyres.

30th November 2001/by Tyrepress Editors

More Production Cuts From Goodyear

In the US, Goodyear says that it will reduce tyre production this month and next, due to weak demand for new cars and trucks. Cuts will be made across the board with no layoffs or shutdowns planned. The reduction follows a second quarter cut in production of six million tyres, despite increased demand as a result of the Firestone recall. Shares in Goodyear fell 20 cents at the news.

30th November 2001/by Tyrepress Editors

Board Nominations At Bridgestone

The following nominations will be made at the meeting of Bridgestone Corporation shareholders, to be held on March 29. New board members: Osamu Inoue, currently plant manager, Hikone Plant and John T Lampe: CEO and president, Bridgestone/Firestone Inc. Retiring from the board: Yoichiro Kaizaki, president, chairman and CEO, Tadakazu Harada, executive vice president, Katsuyooshi Shibata, executive vice president, president of Bridgestone Cycle Co. and Hiroji Ohbuchi, president of Bridgestone Tire Osaka Sales Co. Shibata will continue as president, Bridgestone Cycle Co. and Ohbuchi as president of Bridgestone Tire Osaka Sales Co. after 29 March.

30th November 2001/by Tyrepress Editors

First Ferrari President’s Prize Awarded To Bridgestone

Bridgestone became the first winner of Ferrari’s President’s Prize, one of only two to be awarded to suppliers of Ferrari and Maserati, marking excellence and innovation. Ferrari President Luca di Montezemolo presented the award to Shoshi Arakawa, president and CEO of Bridgestone/Firestone Europe at a ceremony at Ferrari HQ. Also present was EC president Romano Prodi. The award was in recognition of Bridgestone’s role in helping Ferrari to the F1 Constructors’ and Drivers’ championships and for tyre development for Gran Turismo cars.

30th November 2001/by Tyrepress Editors

Slight Rise In Turnover For Goodyear In Third Quarter

Goodyear Tire & Rubber has announced worldwide sales in the 3rd quarter of $3.7 bn (Q3 2000 = $3.6 bn). Net income for the same period was $9.3 million, compared to $17 m for Q3 last year. For the first nine months of the year, the company posted a net loss of $29.6 m, compared to net income of $142.3 m for the equivalent period in 2000. Sam Gibara spoke of “a general economic slowdown” and “tough market conditions in many regions.” However, one plus point for the company was a market share gain of 3 per cent in the US replacement tyre market.

30th November 2001/by Tyrepress Editors

JCB Award For Bridgestone/Firestone UK

Bridgestone/Firestone UK (BFUK) has been presented with a “2000 Supplier Award” by JCB, one of only five companies to receive awards and the only tyre company to be nominated. The award was given for supply service, product quality, innovation and cost reduction. John Patterson, JCB’s CO, presented the trophy to Jim Wilson, MD of BFUK, at the JCB Suppliers Conference.

30th November 2001/by Tyrepress Editors

Defect Investigation For Ameri*550

The US National Highway Traffic Safety Administration has announced that it is to open a defect investigation into the General Ameri*550 AS P235/70R16. The tyre is manufactured by Continental Tire North America and has been used as a replacement tyre for Firestone Wilderness ATs on Ford Explorers. The investigation follows initial research results show tread separation claims running at 124 per million. This exceeds the rates for any of the other tyres on the NHTSA list of tyres to be examined. The claims against the General Ameri*550 include seven crashes in which the tyre separation allegedly led to injuries. The NHTSA states that the defect investigation does not mean that it has determined these tyres to be unsafe, or to have a safety related defect. Simply that it warrants further investigation.

30th November 2001/by Tyrepress Editors

Positive Signs For Goodyear?

In discussions with analysts from the DB Group, Goodyear management expressed optimism that it might achieve a larger slice of OE business from the Detroit car manufacturers, at the expense of Firestone. Goodyear said it had received an order from Ford for 1.8 million tyres and is hoping for another big order from General Motors. Spokesmen from Goodyear said that they would resist Chrysler’s request for price reductions in order to overcome the difficult situation at Chrysler. At the end of January, many contracts between Firestone and its dealers expire and Goodyear is confident of winning over many of these dealers. On the other hand, Goodyear admits that the medium and heavy truck business will remain difficult during 2001. All in all, the analysts see more positives than negative risks at the moment, but they did not recommend Goodyear shares.

30th November 2001/by Tyrepress Editors

Motor Manufacturers Step Back From Firestone

General Motors, which currently uses Firestone tyres as OE equipment on some 14 different models will be changing some cars and trucks to other Bridgestone brands this summer. Nissan will be dropping Firestone from its US Altima saloon when it relaunches in September. Both manufacturers stressed that the tyres they use were not connected with the Ford/Firestone recall troubles. However, GM’s Terry Rhadigan says,” We want our customers to have peace of mind.”

30th November 2001/by Tyrepress Editors

Official Opening Of Bridgestone Poznan Plant

Bridgestone’s tyre factory at Poznan, Poland, has been officially opened. It is the company’s sixth tyre factory in Europe and one of 46 across the globe. It produces 10,000 Bridgestone and Firestone tyres daily, mainly high- and ultra-high performance tyres, with a workforce of 540. The factory is a joint venture with state-owned Stomil Poznan SA.

30th November 2001/by Tyrepress Editors

Massive Drop In Profit Announced By Bridgestone

As widely expected, the Bridgestone Corporation has reported a massive fall in net profits of 80 per cent for the year 2000. Net profit was 17.7 billion Yen (US$ 155 million), which was better than the company’s prediction late last year of 13 Billion Yen. Turnover was down too, by 3.8 per cent to 2,006.9 billion Yen, and pre tax profits were down nearly 38 per cent, from 200.8 billion Yen last year to 124.8 billion Yen. This is largely attributable to the effects of the Firestone recall. This is the company’s worst result in ten years. Since the announcement of the tyre recall, Bridgestone shares have fallen in value by 50%.

30th November 2001/by Tyrepress Editors

Tauzin Data Forwarded To Ford

Republican Senator Tauzin’s data on 11 replacement tyre models has been forwarded to Ford. Tauzin, chairman of the House Energy and Commerce Committee has asked Ford for a comprehensive explanation of how it decided which brands of tyres to use as replacements. He has also asked Ford to run “rig tests” on all replacement tyre brands before installing them. This follows Committee investigators’ claims that 11 of the replacement tyre models had higher damage and injury rates than the Firestone Wilderness ATs being replaced.

30th November 2001/by Tyrepress Editors