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Redundancies Could Be Voluntary: Pirelli Carlisle

Hopes are high that the 60 redundancies announced last week for Pirelli’s Carlisle plant could be filled by volunteers. The MP for Carlisle, Eric Martlew praised Pirelli for their continued investment in the factory despite the job cuts, revealing to local news sources that he was confident that the redundancies could be filled without forcing anyone to leave their job.

The move to cut the jobs comes as a response to decreased demand for products produced at the plant and the ability to manufacture identical items elsewhere. Pirelli released a statement promising to “strive to minimise the impact on our workforce” and that the action – alongside the company’s investment in new technology at the plant – would “help safeguard” its future.

22nd July 2008/by Tyrepress Editors

OTR Keeps The Pressure Up

OTR is now supplying tyre pressure monitoring systems as part of its earthmover tyre management service. “The correct pressure in earthmover tyres not only improves the safety and stability of the vehicle, but gives operators a much improved return on investment.” That, says OTR’s Regional sales Manager Paul Skerritt, is a pretty obvious statement, but he goes on to say “you would be amazed at what we find on site sometimes.”

Graeme Manning, OTR’s Commercial Director, says: “Inflation pressure is one of the most important factors affecting tyre life. Fuel efficiency is greatly affected too – a tyre under-inflated by 10 per cent reduces fuel efficiency by 1.5 per cent.”

17th July 2008/by Tyrepress Editors

RPG Investing in CEAT, Philips Carbon Black

India’s RPG group recently outlined plans to invest Rs 30 billion (£357 million) in its tyre and carbon black subsidiaries over the next two years. In late May company chairman Rama Prasad Goenka told media that this investment was part of the group’s expansion programme, and that from the disclosed total, Rs 20 billion would be directed towards the Ceat Tyres operation and Rs 10 billion to Philips Carbon Black.

The investment was necessary if the company was to remain competitive following the government’s liberalisation, privatisation and globalisation policies, he said. The group was, he added, aiming to increase productivity, quality and facilities to workers by the expansion.

12th June 2008/by Tyrepress Editors

Goodyear Expanding Brand Presence Through Licensing

These days there’s much more to Goodyear than simply tyres. The US tyre major has become a major player in the world of product licensing, and in early June, it attended the annual Licensing Expo in New York. Attendance at such shows is, says Goodyear, part of its global licensing strategy to help extend the brand’s reach into new and different product categories.

The company already has partnered with nearly 70 licensees worldwide, reports Bob Paciulan, Goodyear manager of licensed products. These licensees, producing products carrying the tyre major’s brand, contribute to a growing stream of royalties received by Goodyear. Paciulan adds that Goodyear, through its presence at shows such as the Licensing Expo, is particularly interested in licensees that produce premium products in the automotive, home/garage, apparel, travel and leisure/recreation areas.

10th June 2008/by Tyrepress Editors

Transport Secretary Says No to Mega Trucks

The SMMT is reporting that transport secretary Ruth Kelly has rejected proposals to run “significantly longer and heavier” truck on British roads.

The decision follows the publication of an independent report which suggests that their introduction in the UK would be impractical on either a permanent or trial basis. “This study shows that super-lorries are not compatible with British roads. Not only are there clear environmental drawbacks, but such vehicles would be unsuitable for many roads and junctions, while providing the infrastructure to accommodate them would require substantial investment.”

4th June 2008/by Tyrepress Editors

Tyre Makers Give To Earthquake Relief

Bridgestone and Michelin are among the companies offering financial aid to the Chinese earthquake relief fund. Bridgestone Corporation has donated 30 million Yen (184,440 euros) to support relief efforts. The company made the donation through the Japan Red Cross.

Michelin China Investment Co. donated the sum of 500,000 Yuan (46,125 euros). Bridgestone (China) Investment Co., Ltd., the China subsidiary of Bridgestone, also decided to donate 300,000 Chinese Yuan (27,675 euros) through the China Red Cross.

15th May 2008/by Tyrepress Editors

Yokohama Revises Annual Projections

Yokohama Rubber announced on April 25 that its projections for consolidated net sales and operating income for the fiscal year between April 1, 2007 and March 31, 2008 have been projected upwards. The new projections call for net sales to increase 10.6 per cent over the previous year, to 550 billion yen (£2.65 billion), and for operating income to increase 56.6 per cent to 33 billion yen (£159.22 million). The company also announced a downward revision in its projection for growth in consolidated earnings, with net income now projected to rise 28.3 per cent to 21 billion yen (£101.32 million).

28th April 2008/by Tyrepress Editors

A Dozen Retailers Join First Stop Network

Twelve tyre retailers have joined Bridgestone UK’s First Stop network, taking the total number of outlets to 165. At the start of 2008, Bridgestone announced a target of expanding the network by an additional 30 outlets during the course of the year. The new dealerships are based across the UK.

The new First Stop dealerships across the UK are:

AMS
LTC
Eds Treads
Elmbridge Tyres
Barry Shaddock Tyres
Watling Tyres
Tyre Express
Steer Tyres
Mike Knight Tyres
M&S Tyres
W J Woods
Gates Tyres Co

4th April 2008/by Tyrepress Editors

MITAS Announces 25-Inch Earthmover Tyre, Further Sizes to Follow

Czech Republic based manufacturer MITAS a.s. is expanding its Mitas brand earthmover radial range with the addition of a 25-inch size. The company reports that trial production of this new product is already underway, and serial production will commence in the second half of the year.

The new earthmover radial is suitable for all wheel loaders and articulated dumpers, and Midas has plans to make further additions to the line-up. “When the first stage of the project, the EM-radial-tyres in 25 inch, is successfully completed, the second stage of the project, the production for EM-radial-tyres up to 33 inch will be implemented”, said Dr. Jaroslav Čechura, general director and chairman of the Board at MITAS a.s.. “The total investment for the Mitas earthmover radial tyre project amounts to ten million Euros.”

31st March 2008/by Tyrepress Editors

BTCC Goes to Grays

HiQ’s recently launched sponsorship of the British Touring Cars Championship (BTCC) means the HiQ branch in Grays, Essex will host an race-themed entertainment on Thursday 27 March. HiQ is hosting the evening of thrills and spills at its London Road store from 6.30pm to 8.30pm, to give motoring enthusiasts a taste of the HiQ MSA British Touring Car Championships, which the company is officially sponsoring for the first time.

The entertainment will feature appearances from leading touring car team Vauxhall and driver Tom Onslow-Cole, who will give onlookers an insight into the world of competitive motor sport. A question and answer forum will take place with the team from 7:00pm to 8:00pm and an autograph signing session will also be held, to celebrate the latest round of the BTCC, which takes place at nearby Brands Hatch. 10 free pairs of tickets will be up for grabs as well, to celebrate HiQ’s sponsorship of the championships.

26th March 2008/by Tyrepress Editors

Pirelli Focusing Strongly on Tyres, May Sell Loan Business

Pirelli has already indicated a willingness to place a greater focus upon its thriving tyre business, and this emphasis is apparently being paired by a withdrawal from less profitable undertakings. Italian newspaper Il Sole 24 Ore reported on March 8 that the company was considering divesting itself of Pirelli Real Estate’s poorly performing loan business, and while no source was given for this information the paper added that the group’s intentions may be outlined in a business plan Pirelli & C SpA is scheduled to present in May.

The company’s intended buyback of the 38.9 per cent share in Pirelli Tyre has been long anticipated, and the newspaper added that the company has detailed substantial investment in its tyre business, and is ready to acquire German and Italian companies that supply state of the art technology to the automotive industry.

10th March 2008/by Tyrepress Editors

JK Tyre BOD Recommends 27% Dividend

Shareholders in JK Tyre & Industries look assured of a healthy return on their investment after the company’s board of directors recommended a dividend of 27 per cent on equity shares for the year 2006-07. Company net profits for the quarter ending December 31, 2007 were Rs 217.4 million (£2.8 million), an impressive increase of 166 per cent on results for the same quarter a year earlier. Net sales were Rs 7,228.8 million (£92.4 million, an increase of 9.9 per cent.

30th January 2008/by Tyrepress Editors

Michelin Increasing its Share in Tigar Tyres by 30%

According to a report printed in French newspaper Les Echos, Michelin will gradually increase its share in Serbia’s Tigar Tyres from 64 per cent to 94 per cent. This enlarged stake will come through a 32.5 million euro investment in the manufacturer, who is currently part owned by the state of Serbia.

28th January 2008/by Tyrepress Editors

Kumho to Spend $165 Million on USA Plant

Kumho has announced it will invest US$165 in the first stage plans for a new facility in the US state of Georgia. Proposed total investment in the factory, which will have an annual capacity of 2.1 million units, has not as yet been disclosed.

28th January 2008/by Tyrepress Editors

WRAP Seeks New eQuip Lessors

WRAP is looking for new lessors to join its successful eQuip Residual Value Guarantee scheme, which in its four years of operation has benefited a number of tyre recyclers. There are currently ten finance providers signed up to the scheme and WRAP now wants to open the panel to new lessors as the recycling sector continues to grow.

Ian Wardle, Head of Business Support at WRAP, says: “eQuip has already made a significant contribution towards meeting UK recycling targets. To date, 328 assets have been guaranteed through eQuip, at a value in excess of £19 million. These assets have already diverted three million tonnes of waste from landfill and the demand for this type of activity is going to grow rapidly in the next few years. We need other lessors to join the existing panel so that we can help the recycling sector to keep pace with this demand.”

25th January 2008/by Tyrepress Editors