The Goodyear Tire & Rubber Company said it has reached agreement in principle on the final terms to acquire Ansell Limited’s interest in their South Pacific Tyres (SPT) joint ventures, pending government and other approvals.
(Akron/Tire Review) The union feud that forced Bridgestone/Firestone to twice close its Valencia, Venezuela, plant has apparently ended and the plant has restarted production. Tyres were rolling off the line late on 6 December, according to a company spokesman.
(Akron/Tire Review) TIA has named Paul Fiore, its current director of business development, as the association’s new director of government and business relations. Fiore replaces Becky MacDicken, who left TIA as of 2 December for a position in Pennsylvania.
(Akron/Tire Review) Despite circulating rumours, according to local media, Goodyear Tire & Rubber Co plans to maintain its operations in the Philippines, and hopes to reach a new deal on a 25-year property lease with the National Development Co there. According to news reports out of the Philippines, Goodyear Philippines president David Joseph Morin disclosed this at the company’s 50th year celebration this week and revealed plans to expand its network of Goodyear outlets in that country. The company’s 25-year lease contract with the National Development Co. for the 18-hectare lot in Las Piñas expired in May 2000 and has been extended month to month.
Michael R Wessel, an attorney with many years experience as a policy and international trade advisor in Washington, DC, has been elected to Goodyear Tire & Rubber Company’s board of directors.
(Akron/Tire Review) Feuding factions of the labour union representing workers at Bridgestone/Firestone’s tyre plant in Valencia, Venezuela, caused the three-day shutdown of the facility, according to a statement issued by the company.
VOSA says the MOT Computerisation roll out is proceeding successfully. It may be for them, but is it a success for the industry that provide employment for 35,000 testers and all the other people involved?
I have been involved in MOT testing for 30 years and have, for the last 20 years been operating a “high volume” testing station. Consequently I have followed the MOT computerisation programme closely since the project was first announced. At every VOSA seminar attended we, the delegates, have always been told the system would be totally tried and tested before going “live” and would never shut down because two separate computer systems would operate to ensure the system runs 24/7.
(Akron/Tire Review) Becky MacDicken, director of government affairs with TIA, has announced her resignation. She is leaving the association as of 2 December to work with the Pennsylvania state government on a business education initiative. MacDicken, who has been with TIA for more than five years, has played an active role in helping shape TREAD Act regulations for the tire industry, and numerous other legislative and bureaucratic issues impacting tire dealers and the industry at large.
(Akron/Tire Review) Bridgestone/Firestone North American Tire’s Canadian operation and the Quebec government will invest $53.3 million (Canadian) on improvements to the company’s 40-year-old Joliette, Quebec, tyre plant.
The deal was announced last Friday, and is intended to preserve some 1,250 jobs at the plant. Bridgestone/Firestone Canada Inc will contribute $49.8 million and the provincial government will add $3.5 million. Most of the funds will go toward new equipment and facility reorganization.
Hankook Tire Co said yesterday it will build a 500 million euro manufacturing plant in Dunaujvaros, Hungary, 68 kilometres south of Budapest. The European plant is expected to begin tyre production in the second half of 2007, the Korea Herald has reported. Te news comes following the collapse of a similar deal with Slovakia, which fell apart because of disagreements about government subsidies.
Before the Hungarian deal was finalised, local news sources had described the Hungary incentive package offered to Hankook Tire Co as a state secret. However, the reports said incentives include direct and indirect subsidies, tax breaks, training opportunities and infrastructure, amounts to no more than about 10 per cent of the total investment value.
Dunlop Tyres, Zimbabwe’s only tyre manufacturing firm could soon reopen following the intervention of Industry and International Trade Minister, Obert Mpofu. Dunlop shut down three weeks ago, sending 820 workers home after the Reserve Bank of Zimbabwe (RBZ) failed to pay the firm its foreign currency allocations under an exclusive agreement. The government is now expected to pump up to US$350,000 into Dunlop towards imports for raw materials. “It is envisaged that Dunlop will have a three-day working week until foreign currency inflows normalise,” newzimbabwe.com reported.
Hankook Tire’s board of directors has approved the selection of Hungary as a preferred site for its proposed 500 million euro plant, the AFX news agency has reported. According to the report, Hankook has formed a local unit — tentatively named Hankook Tire Hungary Ltd — to conduct talks with the Hungarian government.
The unit is said to have a capital base of 14.9 million won. “If the talks are going well, then we can expect to announce the result in early November,” a Hankook Tire spokesman said. The news follows Slovakia’s refusal of incentives worth 110 million euros.
(Akron/Tire Review) Hankook has reportedly conducted talks with Hungarian Economic Minister János Kóka on potentially locating its new Eastern European plant there. The report is according to a daily newspaper in Hungary. Earlier this year, Hankook announced its plans to spend $650 million on an Eastern European plant capable of producing five million tires annually. The tyremaker had picked Slovakia as the site, but negotiations have since been hampered due to disagreements over the government’s incentive package. Korean news reports have stated that Hankook will announce the intended location of its new plant by November. Production is slated to begin in 2007.
Hankook Tire Co, says it will select a new site for its proposed European plant by November, and is aiming to break ground next spring. According to Asian news sources, Hankook’s chief executive Cho Choong-hwan reiterated the plan to begin European production in 2007 during his speech at an international automotive industry forum, stressing the strategic importance of the European market.
Tyre cord maker Duracord (Europe) has collapsed with the loss of 70 jobs, the Manchester Evening News has reported. Durachord of Castleton, Rochdale, was previously known as Dunlop Textiles. The company’s directors called in administrators last week and the company has now gone into receivership. Phil Roberts, Rochdale branch secretary of the GMB union, said Duracord’s employees would have to apply to the government for their wages, holiday money and redundancy pay, which could be a lengthy process.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
