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Carlisle freezes in Caribbean

Implement and ATV manufacturer Carlisle Tire has had its assets frozen in Trinidad. The company dismissed 400 employees from its Point Fortin plant which was closed two weeks ago after workers began protesting about what they claimed were unsafe working conditions, including exposure to harmful chemicals. Carlisle said it dismissed the workers because they had abandoned their jobs. Workers were not given severance packages. The court’s ruling allows Carlisle to spend only 4,200 US dollars in monthly operating expenses at the plant. The plant, located in a free-trade zone, manufactured 3,000 to 4,000 tires a day for export, according to court documents.

2nd October 2003/by Tyrepress Editors

Car Makers To Slash Jobs

Only days after signing new master labour agreements with unions in the USA, Ford and DaimlerChrysler have announced comprehensive job-cutting plans. Ford will lose 12,000 jobs worldwide (1,700 in Europe), while DCX will offer early retirement packages to “thousands of US workers” according to reports. One unconfirmed press story suggests that DCX could close up to nine US factories as the car makers face a downturn described as “the most severe that the industry has suffered.”

1st October 2003/by Tyrepress Editors

TPMS creates 200 jobs in Antrim

Tyre technology firm Schrader Electronics has announced that it is to build a new factory at Carrickfergus in Antrim (Northern Ireland), which will create 200 jobs.

1st October 2003/by Tyrepress Editors

Continental To Cut Jobs In USA

Continental Tire North America is to cut production at its plant in Mayfield, Kentucky, by 22 per cent, resulting in the loss of 200 jobs; around 15 per cent of the total workforce. Rising costs, especially so-called “legacy” costs were blamed for the move.

30th September 2003/by Tyrepress Editors

Ford Offers Early Retirement To Trim Jobs

Ford is aiming to lose 1,700 jobs in Europe, by offering voluntary early retirement to workers at two factories in Germany. A similar move is expected at the Ford factory in Gent, Belgium, while workers in the UK have already been offered early retirement.

30th September 2003/by Tyrepress Editors

Daewoo Cuts Jobs In Poland

Daewoo-FSO Motor Polska is to slash up to 1,500 jobs in Poland, in a bid to save the company from bankruptcy and to encourage investment in restructuring. The exact number of jobs to be lost will be decided in discussions with unions, but 1,000 workers picketed a meeting of shareholders at the Economy Ministry.

30th September 2003/by Tyrepress Editors

Continental Invests 74 Million Euro in Czech Republic

Continental is set to invest 74 million Euro in building a plant on the Barum Continental site in Otrokovice, in the Czech Republic. Expected annual capacity will be three million tyres, mostly high performance products for the OE market. The project will mean the creation of 430 jobs over the next decade and a new company, wholly-owned by Continental, will be incorporated to manage the project.

30th September 2003/by Tyrepress Editors

New tyre plant for Wales

A sports car tyre retreading business has been launched in Wales. Maxsport Competition Tyres is to create up to 25 new jobs at its new tyre retread facility in Rhayader, Powys where it plans to eventually retread more than 50,000 tyres a year, primarily for the motorsport and off-road vehicle markets in Europe and Asia. The company, which has invested more than £1m in a 37,000 sq ft unit at the town’s Brynberth Industrial Estate where it currently employs nine people. Maxsport Competition Tyres is part of the Treble B Group based at Caterham, Surrey, which distributes new and retreaded tyres throughout the UK and has depots in England and South Wales. The group plans to open a new storage and distribution facility in Rhayader in the future.

22nd September 2003/by Tyrepress Editors

Tyre manufacturers report first half results

A number of tyre companies have published financial results for the first half of the year, with figures varying from not-so-good to impressive. These are analysed in detail in the magazine, but some brief highlights are as follows:

Michelin: Sales were down 6 per cent to 7.348 billion Euro, but excluding currency effects, this would be a rise of 4.4 per cent. Operating profit rose one per cent to 578 million Euro and net income was 165 million Euro; below what was expected, but this was almost entirely due to charges of 178 million Euro for restructuring in Spain, where 1,200 jobs will go over the next three years.
At an analyst meeting, Michelin executives were extremely cautious concerning the outlook for the rest of the year, forecasting a drop in volume for the second half and only a slight improvement in the impact of currency fluctuations. Other obstacles to improvement are the continuing high costs of raw materials and the continuing losses of the recently-acquired Viborg chain. The acquisition was a major factor in the 0.1 billion Euro increase in Michelin’s debt, to 3.9 billion Euro.

Goodyear: Second quarter (Q2) figures reveal that the company lost $73.6 million, compared to a net income in Q2 last year of $28.9 m. Sales were up nearly 8 per cent at $3.8 billion (3.5 bn), but volumes were down half a million units to 52.8 million pieces. The single most important factor in the deterioration of operating performance was an increase in raw material costs of around, $124 million, said Goodyear, even though this was offset in part by cost reductions, improved price and mix and a positive currency translation benefit of some $9 million.
The net loss for the first six months of the year was $236.9 million (1H 2002: $34.3 million loss). The 2003 figures included a rationalisation charge of $78.6 million to cater for staff reductions, while the 2002 figures were boosted by an income benefit of around £10 million as a result of the Ford tyre replacement programme. Sales for the first six months of 2003 reached $7.3 billion; 7.6 per cent up on the 1H 2002 figure of $6.8 billion. Tyre unit volume was down at 105.4 million units (106.3 m).

Continental: 2Q results exceeded the forecasts of industry experts. Compared with 2Q 2002, turnover was down 3.4 per cent to 2.825 billion Euro (2.925 bn), but operating income rose 11.3 per cent to 216 million Euro (194 m), against a forecast of 187 million Euro.
Of the four divisions, Car Tyres, Truck Tyres and Continental Automotive Systems (CAS) all showed slight reductions in turnover compared with 2Q last year, while ContiTech was up slightly. When it came to operating income, however, Truck Tyres was the only sector to show a decrease, while the best performance came from Car Tyres, which posted a 44.2 per cent improvement.
The group’s operating margin was 7.6 per cent and, while the car tyre and truck tyre divisions were slightly below this (6.7 and 7.4 per cent). ContiTech and CAS achieved 8.5 and 9.0 per cent respectively. Industry analysts were pleased at the figures, saying that the group is exhibiting “improving internal dynamics and a favourable mix of businesses with some growth and some cash flow contributors.”

Trelleborg Wheel Systems: TWS achieved sales for the first half of the year of 1,470 million Swedish Kroner (SEK), or 160.2 million Euro. Operating profit was up 33 per cent to SEK 84 million (9.15 m Euro), compared with last year’s first half figure of SEK 63 million (6.87 m Euro). During the second quarter, turnover was SEK 713 million (77.7 m Euro) and operating profit was SEK 39 million (4.25 m Euro).
Operating profit was favourably affected by the company’s restructuring programme, an improved product mix and increased productivity. High raw material prices were partially offset by price increases, especially in farm tyres.

4th September 2003/by Tyrepress Editors

Proposed agreement between Goodyear and USWA

After months of protracted negotiations, the Goodyear Tire & Rubber Co. and the United Steel Workers of America (USWA) arrived at a draft agreement for a new labour contract, designed to last three years and covering 16,000 Goodyear associates in the USA.

2nd September 2003/by Tyrepress Editors

USWA to get seat on Goodyear board

In a groundbreaking move at Goodyear the company has agreed to giving the United Steelworkers of America a seat on the board of directors. In return, the union members will give up raises for three years, pay more for health care and accept smaller pensions. Those are key points in a contract agreement reached last week by the company and the United Steelworkers of America. Union members will vote on the contract by mid-September.

28th August 2003/by Tyrepress Editors

“Tentative Agreement” Reached Between Goodyear And Unions

The long-running saga of discussions between Goodyear and the United Steel Workers of America took another turn when it was announced that the two sides had reached “a tentative agreement” on a new, three-year labour contract. The next step is for USWA’s 19,000 workers to vote to approve the deal. No details were given, but one unconfirmed press report said that the factory at Huntsville, Alabama, which produces Dunlop tyres, would close as part of the agreement, resulting in the loss of 1,000 jobs.

21st August 2003/by Tyrepress Editors

Waste Tyres – The South African Solution?

South Africa has an estimated stockpile of 800 million waste tyres; a considerable achievement for a country that produces only 12 million tyres per annum. Currently most of these tyres are either burned, or retreaded. The former releasing styrene and butadiene, both known human carcinogens, into the atmosphere along with thick black smoke and other chemicals.The South African government recognises that this is not a satisfactory response to the growing problem and is intending to make it mandatory that tyre manufacturers recycle their rubber products. The recycling initiative is estimated to be about to create some 800 jobs in recycling and collection. With only one recycling plant in the country there is a shortage of recycling facilities and the government is in discussions with various companies with a view to establishing further recycling plants. One of the key end products is the use of tyre rubber in asphalt.One of the problems for any investor in recycling in South Africa is the lower volumes experienced in the business compared to Europe or the USA. These lower volumes push up costs and make the already marginal operations less cost effective still. The government’s aim is to drive the tyre manufacturers to provide the recycling facilities, one way or another, and to ensure proper disposal of their products. The government will impose a one per cent tariff on the sale of every tyre, this will be used to fund the collection and disposal through The South African Tyre Recycling Process Company, a non-profit organisation that will collect waste tyres and deliver them to recycling points.

8th July 2003/by Tyrepress Editors

New Drivers at Matador

Since T&A last visited Matador there have been a few changes in the management team. These have been brought about by the retiring of company patriarch, Stefan Rosina Snr. There can be little doubt that Stefan Rosina Snr. is not only a sound businessman, but also an astute politician; if he were otherwise he would not have been able to guide Matador into the free market as he did. The many years involved in the business have placed Mr. Rosina in a commanding position to help develop Matador’s relations both with the Slovak government, of whichever hue, and with politicians and businessmen in the new markets of Russia and the former Soviet influenced states. Although no longer at the helm of Matador, Stefan Rosina Snr, still plays a major figurehead role both as a consultant and as a powerful lobbying tool for Matador.He has been replaced as president of Matador by his son, Stefan Rosina Jnr. as President and Chairman of the Board of Directors. Mr Rosina Jnr. told T&A that the company aims to remain fully independent although working towards new projects with joint venture partners in growing markets. Mr. Rosina reported ongoing developments in Russia at Omskshina, where the JV was now producing 1.5 million tyres per annum and selling every single piece on the Russian domestic market where the Matador brand had already developed a strong following of loyal and satisfied customers. Two other joint ventures in Russia were still under development. Much there depended upon final negotiations and Due Diligence work before any official announcements could be made. However, a JV with Addis Tyre in Ethiopia was in the course of being finalised as we spoke. “This is a long term investment, we will build gently in Africa through our Ethiopian partners. We have long term plans to develop the region, create jobs and wealth and provide education. In Matador, wherever we are we see the potential to provide good employment prospects through the generations. My father worked for Matador, Miroslav (brother) and myself work for Matador and our children also have started working for Matador. We see that same opportunity for all our employees families.”The direction of the company may not have altered but the structure of the upper management has. Stefan Rosina Jnr is the President and Chairman, he is supported by Miroslav Rosina as Vice Chairman and Director of International Operations. The top layer of management is completed by Jozef Vozar, vice president for strategy and General Director Štefan Prekop.

8th July 2003/by Tyrepress Editors

Tyre Recycling Plant For Brunei

Brunei Economic Development Board (BEDB) and ACI Corporation Ltd. have announced plans to develop a multi-billion dollar tyre recycling plant in Brunei. It is estimated that 1.82 million US dollars will be invested in the plant that will generate some 1200 jobs locally. ACI Corporation Ltd has developed a process that transforms scrap tyres and other suitable rubber products into valuable raw materials using a worldwide patented and proven cryogenic process. Brunei has been chosen as its Asian location for the processing hub. Apart from Asia, ACI also plans to build processing hubs in the United States and Middle East to ultimately process up to 60 percent daily of the one million tyres currently discarded in each of these regions.

8th July 2003/by Tyrepress Editors