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Pirelli Quarter Results Show Net Income Rise

Pirelli & C. Spa reports that its Pirelli Tyre operation “substantially held its position in an unfavourable quarter for the world car market” during the first quarter of the 2008 financial year. Results for the quarter ended March 31, 2008 also reflected the company’s decision to further focus upon core businesses, including the repurchase of the 38.9 per cent share in Pirelli Tyre held by shareholders in Speed SpA since August 2006.

Group revenues for the quarter amounted to 1.31 billion euros, up 2.1 per cent on the first quarter of 2007, at constant exchange rates and net of the effect of sales relating to deconsolidation of the real estate assets of DGAG. Taking into account the effect of DGAG, sales as of 31 March 2007 amounted to 1.81 billion euros. EBIT, at 114.6 million euros, was substantially in line with the figure in the first quarter of 2007 (117.5 million euros), net of the result linked to the temporary consolidation of DGAG that had characterised the previous year period. Taking into account the effect of DGAG, EBIT as of 31 March 2007 amounted to 129.5 million euros.

13th May 2008/by Tyrepress Editors

TIA Partners with US Commercial Service, TRIB for Recaufair

The Tire Industry Association (TIA) is to exhibit alongside the US Commercial Service and the Tire Retread Information Bureau (TRIB) and the at the 2008 Recaufair Tire Show, which will be held 5-8 May in Sao Paulo, Brazil. Germano Julio Badi will represent TIA and Anne Evans, director of the Middletown Export Assistance Center, will be representing the US Commercial Service. Members of TIA, TRIB and other US companies interested in growing their export activities are invited to stop by the TIA stand. Acknowledged as the largest tire show in Latin America, the event’s organizers are anticipating 10,500 domestic and international visitors. The retreading, recycling, commercial and service sectors are the focus, and the show will also feature lectures on markets, technology, environment and social responsibility.

8th May 2008/by Tyrepress Editors

AV Birla Signing Land Deal for Mexico Carbon Black Plant

India’s Aditya Birla group is reported to be in the process of signing a land deal with the port authority of Altamira, in eastern Mexico. The purpose of the deal is to facilitate the establishment of a US$150 million carbon black facility. “We may sign the agreement next week,” commented AV Birla Group regional joint president Surendra Goyal. “The $150 million project will be completed in two years.”

According to Goyal, the region near the port, in the Mexican state of Tamaulipas was, selected as an entry point to the US, where naptha is cheaper. The Mexican carbon black facility will add to the company’s global capacity of around 790,000 tonnes per annum, an amount that makes the company the world’s fourth largest producer. In total the Aditya Birla group plans to invest about US$600 million to increase its carbon black manufacturing capacities in India and globally. Goyal, who heads the group’s operations in Latin America and Egypt, said the company also intends to set up a facility in Oman.

2nd May 2008/by Tyrepress Editors

Vipal Invests US$40 million in Mexico Retread Material Factory

Vipal has chosen Mexico as the site of its first production facility outside its Brazilian home market. The company, which has a stated aim of becoming a top three player in the retreading material supply market, will invest US$40 million in constructing a pre-cured tread production plant in the Mexican state of Aguascalientes. The factory is expected to be operational in the middle of 2009, with an annual mixing capacity of 14.4 thousand metric tonnes.

2nd May 2008/by Tyrepress Editors

Hankook Sales Reach $1 Billion in Q1 2008

Hankook has reported year on year sales growth of 18.4 per cent during the first quarter of 2008, delivering the company its first-ever quarterly sales exceeding US$1 billion. The company attained sales of KRW997.3 billion ($1.041 billion). Sales figures for the three-month period included an impressive upsurge in worldwide UHP sector sales of more than 40 per cent and sales to OE manufacturers growing by 15.7 per cent.

Sales to Europe grew by 25.5 per cent year-on-year, boosted by a massive 183 increase in year-on-year sales to the Russian market. Sales to North America also recorded an 18.1 per cent year-on-year increase. In addition, sales to Latin America, Asia-Pacific, Africa and the Middle East increased year-on-year by 22.5 per cent.

1st May 2008/by Tyrepress Editors

Lanxess Acquisition of Majority of Brazil’s Petroflex Completed

Specialty chemicals group Lanxess AG has completed the acquisition of an approximate 70 per cent holding in Petroflex S.A., Latin America’s largest rubber producer. Lanxess is paying some 200 million euros for the package of shares. The transaction took effect on April 1, 2008. Petroflex S.A. will be included in Lanxess’ consolidated financial statements from the second quarter of 2008. In accordance with local regulations, Lanxess will shortly issue a public takeover offer for the remaining shares.

“Petroflex ideally complements our product portfolio and strengthens our position in one of the world’s most important growth markets,” said chairman of the Lanxess Board of Management Axel C. Heitmann. “In this way we are decisively reinforcing our position in Latin America and welcome our new employees with whom we want to continue growing.”

4th April 2008/by Tyrepress Editors

Diamond Jubilee for Alcoa

Alcoa Wheel and Transportation Products, a business unit of Alcoa Inc., announced the start of its 60th anniversary celebrations on March 27. The Ohio, USA based division has planned a year-long celebration of wheel innovation to mark the milestone. Today, Alcoa boasts being the world’s leading supplier of forged aluminium wheels, with more vehicles fitted with Alcoa forged aluminium wheels than any other brand.

The company claims the invention of the forged aluminium wheel in 1948 as but one of many innovations, including more recent products such as Dura-Bright, Dura-Flange and the 14-inch Wide Base Wheel. The Dura-Bright surface is, believes Alcoa, one of the most significant new features to be introduced on forged aluminium wheels in the past two decades, and its introduction won significant media accolades in 2007. Aluminium wheels with a Dura-Bright surface should never need polishing, and can be cleaned with just soap and water for a long-lasting, attractive shine. The patented surface treatment will not chip, crack or peel, and prevents filiform corrosion and discolouring, even when exposed to oxygen, humidity, moisture and road deicing compounds.

28th March 2008/by Tyrepress Editors

Vipal to Inaugurate New Factory this Year

This year Vipal is going to inaugurate a new factory, in Feira de Santana, Bahia (NE Brazil), having spent 160 million Brazilian reals (US$ 92 million, 48 million pounds) of investment on the project. Apart from construction of the factory in Bahia, Vipal also announced the construction of the first productive unit abroad. The company hasn’t revealed exactly where this plant will be, and the kind of investment that will be associated with the new plants has not yet been defined. However, Argentina and Mexico are said to be the countries that present “the great chance of receiving a new unit.”

25th February 2008/by Tyrepress Editors

Goodyear Tire Reports Record Sales Despite Lower Volumes

Goodyear Tire & Rubber Company reported sales records for both the fourth quarter and the full year 2007. Goodyear’s fourth quarter 2007 sales totalled $5.2 billion (2.65 billion pounds; an 11 per cent increase on the same quarter in 2006). According to the company, improved pricing and product meant revenue per tyre was up 10 per cent in the quarter. Goodyear’s share price jumped as much as 9.6 per cent on the day the results were published.

“Our fourth quarter results show significant gains as we drive sales of our higher-margin premium product lines,” said Robert J. Keegan, chairman and chief executive officer, adding: “This is especially true in our emerging markets businesses in Eastern Europe, Asia and Latin America. In aggregate, these three businesses grew sales 20 per cent and segment operating income 41 per cent in the quarter.”

15th February 2008/by Tyrepress Editors

Carlisle Net Sales Increase in 2007

Carlisle Companies Incorporated reported net sales of US$675.5 million for the quarter ended December 31, 2007, an 11 per cent improvement over its fourth quarter 2006 net sales of $608.7 million. For the full year ended December 31, 2007, net sales were $2.88 billion, a 12 per cent increase over net sales of $2.56 billion in 2006. Organic growth of 7 per cent was driven by increased sales volumes across all reporting segments.

“2007 was another successful year for Carlisle with fourth quarter and full year sales growth in all of our segments,” commented company chairman, president and CEO David Roberts. “Our attention is now turned to the opportunities ahead. We have established a five year average sales growth target of 10 per cent and have set our sights on achieving a 15 per cent operating income margin by 2012. We plan to reach these goals through a combination of operating excellence and strategic growth.”

13th February 2008/by Tyrepress Editors

Fred Sutter Carlisle Tire Transportation Products President

David Roberts, Carlisle Companies’ chairman, president and CEO, has announced a series of “key management changes” that include the appointment of Fred Sutter as Group President of the firm’s Transportation Products division. Sutter joins Carlisle from Graco Inc. where he most recently served as Vice President and General Manager of the Applied Fluid Technologies Division. During his tenure at Graco, Sutter also served as Vice President of the Industrial and Automotive Equipment Divisions and as Vice President, Asia Pacific and Latin America. Sutter joined Graco from the Emerson Process Group, a division of Emerson Electric. Sutter holds a BS in Electrical Engineering from the University of Minnesota.

11th February 2008/by Tyrepress Editors

Chinese Car Makers Have Long-Term Plans For US Market

Apparently, there are five Chinese car manufacturers exhibiting at the Detroit auto show – five times as many as at last year’s event – and they have plans to sell their products in the US market. But not just yet, as the Chairman of BYD Auto, Chaung-Fu Wang is quoted as saying that it would take about “three to five years” to accomplish this.

One problem is the recent spate of recalls of Chinese goods across a wide spectrum, which has raised questions in the minds of some about quality. BYD plans to introduce a dual-mode hybrid vehicle capable of travelling for 60 miles on battery power only and the company says it has over 500 engineers working on the project, with the vehicle scheduled to go on sale in China later this year.

16th January 2008/by Tyrepress Editors

New Goodyear Senior VP & Chief Technical Officer Named

At the end of 2007 Goodyear named its replacement for Joseph M. Gringo, who has retired from Goodyear after 41 years of service. As of January 1 Jean-Claude Kihn, formerly general director of Goodyear’s Technical Center (GTC*A) in Akron, Ohio, has taken on the role of senior vice president and chief technical officer.

“Jean-Claude has demonstrated excellent leadership throughout the time I have known him and worked with him,” said Goodyear chairman and chief executive officer Robert J. Keegan upon announcing the appointment. “He has gained the trust of our business leaders in Europe, Latin America and North America through his recent assignments in those businesses.

7th January 2008/by Tyrepress Editors

Hercules to Launch 3 New SUV Lines

Hercules Tire International president, Joe Recchia, has announced that the Canada-based company will use its Tyrexpo Africa exhibit to three new SUV lines. “We are kicking off 2008 with the announcement of three new SUV lines and an exciting new UHP tyre currently in development,” Joe Recchia told Tyres & Accessories. “Our Ironman Radial AP, Merit All Country AT & Hercules MR IV SUV tyres are all fantastic additions to our SUV line. It’s been an incredible year,” he continued, adding: “Hercules Tire International has never looked better!”

Hercules recently announced far reaching plans to become a global operation by opening a number of regional offices in strategic markets around the world. The first was opened at the end of last year and will serve the Latin American and Caribbean markets. Next up are offices in the Middle East, South East Asia and Europe.

4th January 2008/by Tyrepress Editors

Tire Group International: Looking Further Afield

In its 15 years of existence, TGI has developed into a fast-growing company in the worldwide distribution of tyres and tubes. At Tyrexpo Asia, James Eiriz, Vice President of International Sales, told T&A that last year the company experienced a 15 per cent growth in sales.

This was mainly in the Caribbean and Latin America; areas where TGI is particularly strong. Indeed, some 65 per cent of the company’s turnover is achieved in Hispanic countries and now TGI is setting its sights further afield, with plans to expand into the USA (majoring on high performance and truck tyres) as well as targeting Western Europe and Asia, hence the presence at Tyrexpo Asia. Freight costs – especially from China – are increasing, says Eiriz, but he nevertheless expects business volumes to increase this year.

4th December 2007/by Tyrepress Editors