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Indian Govt Ponders PCR Duty

India’s government intends to introduce import duties for passenger car radials in an attempt to protect the domestic industry against the growing quantities of the product being shipped into the country. According to an anonymous official, the Directorate General of Safeguards, a section of the national Revenue Department, is examining an industry filed complaint. Tyre manufacturers allege that the sharp increase in imports over the past year is causing them harm. A formal case is likely to be initiated by the Director General of Safeguards.

24th April 2009/by Tyrepress Editors

GM to Idle Plants this Summer

General Motors announced yesterday that it would idle 13 of its North American plants this summer for stretches lasting as long as 11 weeks. The troubled automaker is cutting production in an effort to burn off existing inventory, some 767,000 cars and light trucks currently sitting in dealer and GM plant lots. The shutdowns, running between three and 11 weeks, will have an impact upon more than 26,000 workers.

GM is still facing the prospects of bankruptcy, which may come prior to 1 June when it supposed to make a $1 billion payment against its current debt. The US government has been working with GM officials to detail out a favorable pre-planned bankruptcy that will see certain GM brands cease to exist. (Tire Review/Akron)

24th April 2009/by Tyrepress Editors

Conti Management “Welcomes” Clairoix Court Decision

Continental’s decision to close its Clairoix factory in France was met with allegations the company had failed to correctly consult employee representatives beforehand, as required by French law. The plant’s joint works council instigated legal action against Conti, however these claims were dismissed by The Tribunal de Grande Instance (high court) of Sarreguemines on April 21.

“Our Continental France subsidiary was ruled to have acted correctly throughout in informing and consulting with the members of the joint works council. We take the occasion of this court decision to emphatically reaffirm that Continental AG has consistently respected and complied with all legal stipulations,” declared Dr. Bernhard Trilken, in charge of worldwide production for the Continental Passenger and Light Truck Tires division.

22nd April 2009/by Tyrepress Editors

Government to Offer Electric Car Subsidies

Business secretary Peter Mandelson and transport secretary Geoff Hoon have given details of the government’s vision to promote ultra low carbon transport – in other words electric cars – over the next five years. This involves a headline subsidy for consumers worth £2000 – £5000 towards buying their first electric and plug-in hybrid cars when they hit the showrooms.

The consumer incentives will be introduced in 2011 to coincide with when the government expects electric and plug in hybrid cars to enter the mass market. To be eligible cars would need to meet modern safety standards and have a range and top speed sufficient to give mass market appeal.

16th April 2009/by Tyrepress Editors

MPs Back Scrappage Scheme

A cross party group of 25 MPs has written to Business Secretary, Peter Mandelson, asking for immediate action to support the vehicle component industry, including a car scrappage scheme like the systems that have been successfully running in Germany and France. According to the department for Business, Enterprise and Regulatory Reform (BERR), the component industry employs some 100,000 people who now face a bleak future because of the economic downturn. However, the group of MPs suggest that targeted measures could help turn the situation around.

The highest profile suggestion is for an “appropriately structured scrappage scheme” subsidising the replacement of old cars in favour of newer more environmentally friendly models. However, the MPs all back support for car finance to stimulate the demand side; improving access to credit and liquidity; and sharing the burden of continuing to employ staff between employees, employers and the government.

16th April 2009/by Tyrepress Editors

R&D Centre to Help US in Race to Build Better Battery

The race is on to develop more efficient batteries for electric vehicles, and on April 8 the US based National Alliance for Advanced Transportation Battery Cell Manufacture announced the establishment of a research and development centre for this very purpose. The Kentucky-Argonne Battery Manufacturing Research and Development Center in Lexington, Kentucky will house collaborative research by scientists from the University of Kentucky, University of Louisville and Argonne National Laboratory.

15th April 2009/by Tyrepress Editors

Bridgestone to Boost Capacity at Wuxi, China PCR Factory

In the medium to long term, demand for passenger car radials in China is expected to increase. To meet this growing demand, Bridgestone announced on April 13 that it will increase production capacity at its Bridgestone (Wuxi) Tire Co., Ltd. facility in China’s Jiangsu Province. The company reports that it will receive government funding to facilitate a capacity increase at the five-year-old plant.

14th April 2009/by Tyrepress Editors

Ansteel-Bekaert JV Steel Cord Plant Opens

Last May Belgium’s Bekaert and Chinese steel producer Ansteel established a strategic partnership, and several months later set up a 50/50 joint venture called Bekaert Ansteel Tire Cord (Chongqing) Co., Ltd. Almost a year after the partnership was first announced, the companies have celebrated the official opening of their 150 million euro joint steel cord production plant in Chongqing, China.

The new facility is intended to meet rising local tyre industry demand for steel cord, and at present 130 people are employed at the site. This number, says Ansteel and Bekaert, will grow in line with market demand and the realisation of further investment phases.

8th April 2009/by Tyrepress Editors

Schaeffler Negotiates 1 billion euros of Credit

On 7 April Schaeffler Group finalised a 1 billion euro loan agreement with its banks. “With the 1 billion euro credit line we have gained further flexibility for Schaeffler Group,” said Klaus Rosenfeld, group CFO at the automotive supplier, adding: “The conclusion of the loan agreement is an important sign of trust from our banks.” According to a statement issued by Schaeffler’s press office, all parties involved have agreed on strict confidentiality regarding further details of the loan agreement.

While the new financing is likely to help the company shore up its financial position, last year Schaeffler borrowed 16 billion euros to finance the takeover of Continental AG, but when the automotive markets spirally and the company’s share price nosedived Schaeffler was left with high debt service payments in the midst of an automotive industry crisis. This led the company to request support from the German state and federal government. In February co-owner Georg Schaeffler said the group needed up to 6 billion euros in fresh financing.

8th April 2009/by Tyrepress Editors

European Car Sales Point to Success of Scrappage Schemes

A number of European car markets are fairing better on the back of cash incentives given for the scrapping of old vehicles when purchasing a new one. Governments in Germany, France, Italy and Spain are offering have already commenced such programmes, and the results so far are positive: In Germany, more than 848,000 people have signed up for the country’s “Abwrackprämie”, or scrapping premium with February car sales increasing 21 per cent, and in March French car registrations rose 8.1 per cent year-on-year to 204,095.

2nd April 2009/by Tyrepress Editors

Conti Workers Protest Clairoix Plant Closure in Paris

Hundreds of France based Continental employees took to the streets of Paris on March 25 to protest the planned closure of the company’s Clairoix factory. The demonstrators burnt tyres and chanted slogans as they made their way to the Elysée Palace, official residence of the French president. Employee representatives from the facility also met with president Nicolas Sarkozy’s counsellor for social affairs, Raymond Soubie.

The protest coincided with talks between Continental CEO Karl-Thomas Neumann and board member Nikolai Setzer and French economy minister Christine Lagarde. Conti reports that the two men met Lagarde to assure her the decision to close the site was related to dropping tyre sales, and that the company hoped the public authorities could help in creating new jobs in the Compiegne region where the factory is located.

26th March 2009/by Tyrepress Editors

Reports: Schaeffler Has Restructuring Plan

In an interview with German news magazine Der Spiegel, Schaeffler Group co-owner, Georg Schaeffler, indicated that the company has already submitted a restructuring plan to creditor banks. Pressure has been mounting for Schaeffler to release it plans to both the government and its creditors after the automotive supplier borrowed 16 billion euros to finance last year’s takeover of Continental AG. It is now struggling to make the high debt service payments it committed to, as a result of the credit crunch’s effect on vehicle manufacturers, and so has reportedly been considering a wide variety of refinancing and restructuring, including a debt-for-equity swap that could see the family owned business barter a significant stake with the banks.

However, despite suggestions that the plan had been circulated to the appropriate parties, and hopes that the government “will respond quickly…to avoid being drawn into the election campaigns,” some banking sources told Financial Times Deutschland that the plans are as yet incomplete: “There are several short papers with fragmentary statements, but as a basis for decision making these papers are not suitable.”

24th March 2009/by Tyrepress Editors

Reports: Denman Needs Government Money or Will Close

Denman Tire says it will be forced to close its doors if it does not get government bailout dollars or purchase contracts, according to news reports out of Youngstown, Ohio. The Youngstown Vindicator reported this morning that Denman president Sandy Pensler said the federal government will pay one way or another, either by giving aid or paying unemployment benefits to affected workers.

Denman Tire has one plant and is based in Leavittsburg, Ohio, near Youngstown, and produces industrial and small OTR tires. Denman, according to reports, claims its needs an infusion of $3 million by the end of 2009 to buy new equipment or it will be forced to shut down. Denman recently laid off 85 workers, which Pensler was quoted as saying would return to work if the 90-year-old company gets needed capital. (Tire Review/Akron)

20th March 2009/by Tyrepress Editors

Grouptyre Provides 4×4 Response Wales with Maxxis Tyre Trial

A newly-launched volunteer organisation that works alongside Emergency Planning officers and provides logistical support to the emergency services, local authorities and GPs in the event of severe weather conditions and emergency situations, is considering switching its vehicle fleet to Maxxis 4×4 tyres. 4×4 Response Wales is currently trialling the Maxxis Bravo all-terrain tyre after Grouptyre, the country’s leading independent tyre wholesaler and exclusive distributor of Maxxis 4×4 tyres in the UK, agreed to supply a test set of tyres for evaluation purposes.

“Our members are currently using a variety of tyres…but we have heard good things about Maxxis and, pending a positive evaluation, we are seriously contemplating switching,” says 4×4 Response Wales co-ordinator Mark Margetts. “Since our team of volunteers use and maintain their own vehicles, they are very interested in a brand of tyre which is robust, absolutely reliable and affordable, and we are most grateful to Grouptyre for giving us this opportunity to see just what Maxxis can do.”

20th March 2009/by Tyrepress Editors

Think Signs Up Dutch EV Deal

Electric vehicle manufacturer Think has signed a Memorandum of Understanding (MOU) to deliver up to 500 TH!NK city electric-powered vehicles this year to ElmoNet, a subsidiary of Mobility Service Netherlands.
With the Dutch Parliament calling for the rapid introduction of EVs (electric vehicles), the Minister of Transport, Mr. Camiel Eurlings, earlier this year announced a fund of 10 million Euros to be made available to support the large scale, early introduction of electric mobility.

“Ambitious visions and concrete measures are required to make the Netherlands the most important experimental garden for electric mobility” says Marjan Minnesma, Director of Urgenda. Urgenda is an active foundation that aims to transform the Netherlands into a model for sustainable development.

20th March 2009/by Tyrepress Editors