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Hayes Lemmerz Names Yost Executive Vice President

Hayes Lemmerz International has promoted vice president, finance and chief financial officer to the position of executive vice president and chief financial officer. Along with gaining the world “executive” to his title Mr. Yost is responsible for the company’s global finance and information technology functions, and will continue to report to Curtis J. Clawson, president, chief executive officer and chairman of the board.

The global wheel and automotive component manufacturer states that Mr. Yost has strengthened the company’s finance team and enhanced internal accounting controls across the Company. Furthermore, Hayes Lemmerz gives Mr. Yost much credit for the success of the recent equity rights offering and debt refinancing, which raised new equity, retired high cost debt, and strengthened the company’s balance sheet.

24th August 2007/by Tyrepress Editors

Goodyear OE for New Toyota and Mercedes

Goodyear has added another two feathers to its OE cap following the selection of its Excellence tyre range as standard equipment on two new UK vehicle launches. Toyota and Mercedes have both approved the tyre on their respective highest-volume models, the Auris and the C-Class.

The Toyota Auris replaces the Corolla, for many years the world’s best selling car, and Goodyear Excellence will be fitted as standard on models delivered with 15-inch wheels. The latest Mercedes C-Class, new for Summer 2007, will wear Goodyear Excellence in 225/45R17 and 245/40R17 sizes on those cars fitted with its popular 17-inch alloy wheel option.

The Goodyear Excellence was launched two years ago, and its asymmetric tread design combines sure footed wet weather grip with high levels of comfort. Goodyear says that the Excellence is particularly popular with OEMs seeking to reduce vehicle road noise, a reported strong point for the tyre.

22nd August 2007/by Tyrepress Editors

Trax Supplies Weights for New Ford Mondeo

UK based TRAX JH Ltd has won the contract to supply the new Ford Mondeo, Galaxy and S Max with a new adhesive balance weight. Replacing zinc, the weight is made from steel and was reportedly chosen for its superior balance capability (steel is 20 per cent more dense than zinc), lower cost and increased environmental attraction. The small 5g and 10g segments enable the weight to be fitted over a wide range of wheel diameters.

An aftermarket version of this new weight (series 610C) is now available from Trax distributors. The Original Equipment weight (series 611C) is also available at a higher cost with corrosion protection to typically last up to 6 years.

29th June 2007/by Tyrepress Editors

Ford Looks to Unload Euro Marques

(Akron/Tire Review) While the company is not commenting, Ford Motor Co. is actively seeking a buyer for its European luxury vehicle group, which includes Volvo, Land Rover and Jaguar. Ford has reportedly retained two major financial firms to arrange the sale, and wants to move quickly to move the brands.

It is unclear if Ford wants to sell the three fabled marques as a group or is willing to part with them individually. Ford lost some $13 billion last year and is looking for ways to trim costs. Its Premier Automotive Group, which managed the brands worldwide, lost $2.32 billion last year.

13th June 2007/by Tyrepress Editors

Continental OE for New Ford Mondeo and Transit SportVan

When Ford’s all-new Mondeo finds its way into new car dealerships in late June, chances are it will be sporting a smart set of Continental tyres as OE. In late May the German tyremaker revealed that a total of eight sizes have been approved by Ford, including one model featuring SSR runflat technology. Continental’s emergency spare wheel will also be available on some models.

Ford has given the go-ahead for five 16-inch tyres in the ContiPremiumContact range to be made available for the Mondeo as well as two tyres suitable for 17″ and 18″ rims from the ContiSportContact family of products. And the selection of the Conti SSR runflat (in size 235/45 R 17 97 W XL) as the eight tyre option for the Mondeo is significant, as it marks the first time this technology has been employed on a Ford Europe product.

1st June 2007/by Tyrepress Editors

Daimler Sells Chrysler for 5.5 billion euros

Daimler has sold 80.1 per cent of Chrysler to private equity firm Cerberus for 5.5 billion euros, far below the $36 billion price-tag the company originally paid. Daimler will retain a 19.9 per cent minority share and has committed to reinvesting 4.5 billion euros back into Chrysler, leaving Daimler with just 1 billion euros. Despite this market observers report that margins in all industrial activities (Mercedes trucks, vans and buses) are likely to rise sharply over the next few years.

Analysts at Deutsche Bank have calculated that Cerberus’ bid values Chrysler at -3.4 billion euros. They also have pointed out that the deal will have implications on GM and Ford and signal a harder line when it comes to any future labour negotiations:

15th May 2007/by Tyrepress Editors

Wal-Mart Loses Tyre Failure Lawsuit

American retail giant Wal-Mart must pay US$4 million in damages to a woman following court proceedings stemming from a vehicle accident caused by tyre failure. Following the accident, plaintiff Carolyn Thorne instigated lawsuits against Wal-Mart as well as Continental Tire, Ford and a Ford dealership, alleging that each of these parties were in part responsible for her injuries.

Ms Thorne was paralysed in a one-vehicle crash on April 24, 2004, when the tread on the left rear tyre of her Ford Expedition SUV separated, causing the vehicle to strike the median barrier. Wal-Mart’s legal counsel argued that the company should not be held responsible for the tyre failure as they neither supplied or installed the vehicle’s tyres, however Thorne argued that since she had her vehicle serviced at Wal-Mart the company had some responsibility in the case. Ms Thorne took her SUV to Wal-Mart to have it serviced just days before the accident. Allegedly the Wal-Mart service she opted for included tread and pressure inspections and tyre rotation. Greg Allen, one of Ms Thorne’s legal representatives, said that the tread check should have revealed a bulge where the tread was separating.

23rd April 2007/by Tyrepress Editors

Hayes Lemmerz Receives Ford 2006 World Excellence Award

Hayes Lemmerz International has been awarded the Ford Motor Company’s Silver World Excellence Award for exemplary performance during 2006 as a supplier of automotive wheels and brakes.

In granting the World Excellence Awards, Ford specifically gave recognition to the Hayes Lemmerz automotive steel wheel facility in Ostrava, Czech Republic and its automotive brake facility in Apodaca (Monterrey), Mexico, for achieving the highest levels of performance in cost, quality and delivery. In announcing the award recipients, Ford’s senior vice president for global purchasing, Tony Brown said, “Their efforts have positively impacted customer satisfaction.”

23rd April 2007/by Tyrepress Editors

Uniroyal Expands Laredo Cross Country Line

(Akron/Tire Review) Michelin North America is launching four new sizes of the Uniroyal Laredo Cross Country tyre for light trucks and SUVs. Considered a “powerline” tyre, the four new sizes give the line 36 total sizes, covering 90 per cent of the most popular SUVs and pickup trucks, MNA said. The tyre comes with a 60,000-mile limited treadwear warranty.

The new sizes include P255/65R16 106 S, LT235/85R16 LRE, P255/65R17 108 S, and P265/65R17 110 S, and target such light duty vehicles as Dodge Dakota, Durango and Ram 3500; Nissan Frontier, Pathfinder and XTerra; Toyota 4Runner, Sequoia, Tacoma and Tundra; Ford F-250 and F-350; and Lexus GX470, according to MNA.

2nd April 2007/by Tyrepress Editors

Tiwheel Results Show Headline Loss

South African alloy wheel maker Tiwheel (Tiger Wheels Limited), majority shareholder in ATS Light Alloy Wheels, have reported £0.085 in headline loss per share for the interim six month period ending December compared with headline earnings per share of £0.046 the same time last year. The company’s revenue grew from 1.17 billion rand (£77.8 million) to 1.60 billion rand (£111.4 million) while 30.3 million rand (£2.1 million) was reported in operating loss compared with 8.6 million rand (£598,700).

Tiwheel has described the results as ‘disappointing’ and attributed them mainly to an accumulation of problems at its Kentucky, USA, facility. The problems referred to occurred at the Kentucky plant in November and December 2006 and according to the group were caused by a combination of management mistakes and market circumstances.

16th March 2007/by Tyrepress Editors

Two Further Goodyear Appointments

On the same day that Goodyear Tire & Rubber announced the appointment of a new company president came the news of two further appointments. Darren Wells has been appointed senior vice president of finance and strategy for the company as of March 14. Wells, 41, previously served as Goodyear’s senior vice president, business development & treasurer.

With the announced appointment of Chief Financial Officer Richard J. Kramer to run the North American Tire Business as its president, Wells assumes Kramer’s former responsibility for the company’s overall strategy development. In addition, Wells retains his finance responsibilities, which include treasury, investor relations, business development and tax.

14th March 2007/by Tyrepress Editors

Ford to Recall US Police Cars

(Akron/Tire Review) The Ford Motor Co. plans to recall more than 109,000 Crown Victoria police cars due to cracks that can develop in the steel wheels that could cause rapid air loss in tyres during high-speed pursuits. The recall affects certain 2003-2005 models. According to the NHTSA, the cracks can form near the weld line that connects the rim to the wheel disk. The stress on wheels during pursuits is much greater than during normal driving because of police techniques, Ford stated.

Ford added that the cracks have been reported in a small percentage of the wheels, which had been covered by an extended warranty program. Dan Jarvis, a spokesman for Ford, said police departments have reported two crashes that they attributed to the wheel problem, but Ford is disputing the claims. No injuries were associated with the two crashes.

14th March 2007/by Tyrepress Editors

Prodrive Founder buys Aston Martin

One of the UK’s oldest automotive marques has changed hands for US$848 million. Aston Martin, founded in 1913 and most recently owned by Ford, has been sold to rally driver and founder of prodrive David Richards plus several smaller stakeholders. Ford retains a minority shareholding in the carmaker.

13th March 2007/by Tyrepress Editors

Boosting Economy with a Software Tweak

A Dutch scientist claims that the fuel consumption in many of today’s cars could be reduced by 2.6 per cent through the addition of new software to the engine’s computer. John Kessels from the University of Eindhoven worked in conjunction with Ford to develop software that would improve engine performance, and the initial results of this collaboration look promising.

21st February 2007/by Tyrepress Editors

Two New Appointments for Goodyear North America

The Goodyear Tire & Rubber Company has appointed Charles “Chuck” Mick to the newly created position of vice president and general manager, North American holdings and integration. Prior to taking on this position Mick had served since 2003 as vice president and general manager of the company’s Global Off-Highway tyre business.

30th January 2007/by Tyrepress Editors