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Continental Produces 500 millionth Floating Brake Calliper

On July 19 Continental celebrated the production of the world’s 500 millionth floating calliper at its facility in Rheinböllen, Germany. Commenting on the occasion, Heinz Zingel, executive vice president of the Company’s Hydraulic Brake Systems Business Unit, which belongs to the Chassis & Safety Division, said “Each year, the Hydraulic Brake Systems Business Unit produces more than 33 million floating callipers at sites in Germany, the United Kingdom, Spain, Portugal, the Slovak Republic, the USA, Brazil, China, Japan and Taiwan. Annual production is some ten million at Rheinböllen alone, making it the world’s leading production site for Continental brake callipers.”

20th June 2008/by Tyrepress Editors

14-Day Turkish Tyre Strike Ends

A two week tyre strike by 4,000 members of International Federation of Chemical, Energy, Mine and General Workers’ Unions (ICEM) Turkish affiliate Lastik-İş ended on 13 June, and workers from three tyre manufacturers resumed work the following day. The strike ended when a two-year accord was reached between the union and three global companies, Goodyear, Bridgestone and Pirelli, who jointly represented the tyre industry in talks.

The negotiations on 13 June were the first since the strike began on 31 May. Talks first began on a 2008-2009 labour agreement, covering four tyre factories, in September 2007. The two parties agreed to a 14 per cent pay increase for 2008, and an increase equalling the Turkish rate of inflation for 2009. In 2007, the Turkish rate of inflation was 8.39 per cent and is expected to rise above that this year. Lastik-İş had sought a 12 per cent wage rise for the first six months of 2008, with increases matching the inflation rate in each six-month period through 2009.

17th June 2008/by Tyrepress Editors

10 Million & Counting: Bridgestone Reaches Run-Flat Milestone

In August 2006 Bridgestone celebrated the delivery of five million run-flat tyres over the course of two decades; a mere twenty months later the company doubled this figure. On June 4 Bridgestone announced that it passed the ten million mark during April 2008.

Bridgestone says it recognises run-flat tyres as strategic products. The company also points to their environmental benefits, such as fuel economy through vehicle weight saving and reducing rubber consumption and scrap, and thus the company plans to further permeate and expand its run-flat market.

The first Bridgestone run-flat tyres were delivered in the early 1980s, the initial products being tyres fitted to specially manufactured vehicles for physically disabled persons. The first run-flats for a production vehicle model, the Porsche 959, were delivered in 1987. Bridgestone’s run-flat production has accelerated since 1999 as automakers have adopted run-flat specifications on a growing range of vehicle models, reflecting a changing environment surrounding motoring lifestyles. Currently the company produces run-flat tyres at six plants in four countries worldwide – Japan, the United States, Poland and South Africa.

9th June 2008/by Tyrepress Editors

BFNAT Delay Decision Over Tech Centre

The future location of 600 jobs at the Bridgestone Firestone North American Tire technical centre remains undecided after the company delayed the decision until the end of the year.

The tyre manufacturer has yet to produce an initial recommendation in order to decide whether to keep the technical centre in Akron, Ohio or to relocate the 600 roles to Nashville, Tennessee, in which BFNAT’s headquarters are currently located. The decision was initially planned for the end of May, but the recommendation will now be made by executives in Nashville and Japan in late 2008.

4th June 2008/by Tyrepress Editors

Bridgestone Releases Report on Improper Payments Investigation

Since disclosing on February 12 this year incidents of improper monetary payments to foreign agents, all or a part of which may have been provided to foreign governmental officials, the CEO of Bridgestone Corporation, Mr. Shoshi Arakawa, has directed an ongoing investigation through an ‘Investigation Committee (the ‘committee’) comprised of external attorneys. On the three-month anniversary of the committee’s initial establishment, the company presented its interim report, which is outlined below:

1. Investigation

Since the announcement on February 12, the committee has conducted the investigation ‘vigorously’, says Bridgestone. However, the scope of this investigation is extensive and includes some of the company’s overseas subsidiaries. The subject of the investigation has now expanded to the entirety of Bridgestone’s Industrial Products division. Moreover, since the committee needs to consider not only Japan’s Unfair Competition Act but also the regulations of other countries, this latest report remains an interim report and has not been made final.

28th May 2008/by Tyrepress Editors

Koji Toyoda Becomes MD at Toyo Tyres

Toyo Tyres (UK) Ltd has announced that MD Tatsuo Mitsuhata will move to Toyo’s European Head Office in Germany to become vice president of Toyo Tire Europe GmbH, Toyo UK’s parent company. The move takes effect at the end of May. As a result of the promotion, Koji Toyoda has been appointed as managing director in the UK, following authorisation at a board meeting at Toyo Tire Europe on 30 April 2008.

16th May 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 Reports Positive Annual Results

An increase in net sales of 10.9 per cent has been reported by Yokohama Rubber for the fiscal year ending March 31, 2008. This figure is slightly higher than the recently revised projection of 10.6 per cent and equates to 551.4 billion yen (£2.74 billion). Operating income, at 33.1 billion yen (£164.77 million), was up 57.2 per cent, again slightly higher than the projected figure (56.6 per cent). Net income, at 21,06 billion yen (£104.84 million), was up by 28.7 per cent on last year’s results but 1.8 per cent below those of 2006.

Leading the sales growth were gains in tyre markets outside Japan, says Yokohama. Total tyre sales for the year were 419.83 billion yen (£2.09 billion), an increase of 12.6 per cent. The double-digit sales growth reportedly more than offset the still-rising prices for raw materials and the upward trend in logistics costs. Operating profitability also benefited from the weakening of the yen during the fiscal year. Operating income climbed 77.6 per cent in Yokohama’s Tire Group, to 26.0 billion yen (£129.67 million). Progress in expanding production capacity at Yokohama’s tyre plants in Asia supported the company’s unit sales growth in markets outside Japan. Also contributing to the increased operating income in the Tire Group was improved profitability at subsidiaries in the United States and in Asian nations besides Japan.

12th May 2008/by Tyrepress Editors

Bridgestone’s First Quarter Net Profits Down 18.4%

Bridgestone has reported an 18.4 per cent fall in first quarter net profits, compared with the same period a year ago. The company cited slow US demand and the strengthening yen as reasons for the slower performance. Net profits dropped to 22.96 billion yen ($220 million; 143 million euros; 111 million) from 28.14 billion yen in the same period last year. Meanwhile revenue rose 3.6 per cent to 797.84 billion yen ($7.7 billion; 5 billion euros; 3.98 billion pounds) thanks to steady sales in Japan and Europe. Sales in Japan account for almost 40 per cent of the company’s total revenue.

Sales in Europe increased 5 per cent over the previous first quarter to 126.6 billion yen ($1.3 billion, 612 million), while operating income decreased 75 per cent to 1.1 billion yen ($11 million, 5.32 million) due in part to increasing raw material costs and sales expenses.

8th May 2008/by Tyrepress Editors

RUD-Erlau Delivers World’s Largest OTR Tyre Chains

Following the recent completion of a three year expanion and modernization programme of its Aalen, Germany, tyre protection chain (TPC) production facility; RUD-Erlau delivered and installed two full sets of the world’s largest TPCs last month. Called the R 75S Plus the TPCs have gone into service in both Europe and North America.

In Europe the R 75S Plus are protecting all four 52/80–57 tyres on a CAT 994 loading limestone. The other machine to be shod with R 75S Plus is a giant LeTourneau 1850 working iron ore in North America.

1st 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

Noble Retires as Bridgestone Australia Director

Bridgestone Australia’s Board of Directors has announced the retirement of Mr Barry Noble, B.Ec, FAICD, as a director of the Company, effective as of 1st August 2008. Mr Noble joined the Board as a non-executive director in July 2003, and the company’s directors have acknowledged Mr. Noble’s “significant contribution as an independent director during his five years on the Board.”

In March 2007, the directors advised that a proposal to privatise Bridgestone Australia through a selective capital reduction had been approved by shareholders. As a result, the company became a wholly owned subsidiary of Bridgestone Corporation of Japan. Now that these arrangements have been settled, the decision has been made that it is no longer necessary to have a non-executive director on the Board of the Australian company.

22nd April 2008/by Tyrepress Editors

TMD Friction Develops New Hybrid Brake Pads

TMD Friction has introduced an innovative hybrid brake pad generation; the company’s engineers have succeeded in covering European, Asian and American market requirements with one material family. Production is scheduled to start in 2009.

Derek Whitworth, CEO of TMD Friction, says: “In addition to environmental compatibility, our customers profit from greater comfort, a longer service life and reduced brake dust.” Close global cooperation between the engineers of TMD Friction in Germany, the USA and Japan resulted in the development of this new friction material generation.

22nd April 2008/by Tyrepress Editors

New CEO for Parts Manufacturer Dana Holding

US automotive parts manufacturer Dana Holding Corporation has announced the appointment of Gary L. Convis as its new CEO, replacing John Devine, who has held the role in an acting capacity since January. The company, which recently exited Chapter 11 bankruptcy, appointed Convis to its Board of Directors in January 2008, shortly after he retired from Toyota, where he had served for more than 20 years, most recently as chairman.

“Gary is widely respected as one of the leading experts in lean manufacturing and management systems, including the Toyota Production System. Along with his strong leadership and global industry experience, we believe he is an ideal choice as our new chief executive,” said Dana Executive current chairman, John Devine.

18th April 2008/by Tyrepress Editors

Bridgestone Automated Tyre Facility Opens in Hungary

The fully automated 190 million tyre manufacturing facility Bridgestone has built in Tatabánya, Hungary, officially opened for business on April 3. The factory is the first in Europe to feature the tyre major’s BIRD (Bridgestone Innovative and Rational Development) technology and only the second facility outside Japan to do so. Plant production of high-performance and large-rim sized radial tyres for passenger cars and light commercial vehicles is scheduled to reach 8,000 units a day in 2009.

More than 150 guests attended the opening ceremony, including senior Hungarian figures from local, regional and national authorities. Amongst this group of dignitaries was Mr. Ábel Garamhegyi, Hungarian State Secretary, Ministry of Economy and Transport, Mr. János Bencsik, Mayor of Tatabánya and Mr. László Beke, Mayor of Környe. Representatives of Hungary’s national and local media, officials from local organisations in Tatabánya and Környe, and managing directors of neighbouring companies also attended.

4th April 2008/by Tyrepress Editors