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PSA Peugeot Citroën to Double Production in Argentina

PSA Peugeot Citroën has today announced its industrial development plan for Argentina through which it plans to launch two new models at its Buenos Aires plant.

The Peugeot 206, 307 and Partner and the Citroën Berlingo are currently manufactured at the plant and production of the two new models is expected to begin by 2007.

The company believes the “favourable outlook” for the Argentine automobile market supports these developments. There is no doubt that the move will heighten the facility’s competitiveness, and reflects the country’s improved economic situation.

According to the company the new models will be exported to other Mercosur countries, as well as to other Latin American markets and possibly around the world.

Annual output at the Buenos Aires facility is expected to increase from the 45,000 cars planned in 2004 to 100,000 in 2007. Total investment is expected to amount to 450 million Argentine pesos (125 million euros).

21st September 2004/by Tyrepress Editors

Goodyear Dunlop Managers to Job Swap

Goodyear Dunlop Europe has appointed Dick Johnson as general manager of Goodyear Dunlop UK, the company has announced.

6th September 2004/by Tyrepress Editors

Pirelli Asserts Itself as Latin America’s Number One

International News

Carlos Redondo has been Pirelli’s CEO for Latin America since the beginning of 2003. Before that he was CFO for Pirelli Tyres worldwide. With a turnover of approximately 1 billion euros, about one third of Pirelli’s total worldwide turnover Mr Redondo is successfully piloting his division from its headquarters in Sao Paulo. Tyres & Accessories met Mr Redondo last month in Usuhaia, south Argentina, in conjunction with the launch of its new Sottozero winter tyre. To download the whole article as a PDF file, click here.

3rd September 2004/by Tyrepress Editors

Goodyear Previews Second Quarter Earnings

Goodyear Tire & Rubber Company has announced that it expects to report second quarter sales of around $4.5 billion. The figure represents a $0.7 million dollar improvement on the previous year, which the company believes is the result of higher volume output, improved pricing and better product mix.

22nd July 2004/by Tyrepress Editors

Goodyear to Invest $50 Million in Colombian Plant

Goodyear Tire & Rubber Company has announced that it will invest $50 million (£27 million) in plans to expand its facility in Cali, Colombia. The plans will see the plant produce radial medium truck tyres in addition to its existing output. This signifies Goodyear’s commitment to the growth of Colombian exports in certain Latin American countries, according to Eduardo Fortunato, president of Goodyear’s Latin America region.

12th July 2004/by Tyrepress Editors

European Autos Conference Feedback

Results have been published from the seventh Annual Morgan Stanley European Auto Conference. And an interesting industry overview came from both Continental and Pirelli.

Continental’s CFO, Dr Alan Hippe gave an overview of the company’s major business and an update on the decision to close tyre production in Mayfield, whilst Pirelli commented on its North American business strategy.

2nd July 2004/by Tyrepress Editors

Michelin Hosts Seminar On Rubber Tree Parasites

In Brazil recently, Michelin hosted the world’s first research seminar on parasites that attack rubber trees (hevea) and which are threatening the rubber industry in Central and Latin America. Microcyclus Ulei is a parasite that attacks and eventually kills rubber trees and Michelin has set up a laboratory and research centre at its plantation in Bahia, Brazil, where 14 resistant varieties of hevea have been identified and are being tested.

11th May 2004/by Tyrepress Editors

Indian tyre industry growing

The Indian tyre industry is expected to register impressive growth coming from a combination of both organic and inorganic development, according to credit rating agency ICRA. Consolidation of the Indian tyre industry is expected to continue through mergers of existing players. While organic growth would come from raising efficiency levels, inorganic growth would be achieved through alliance and mergers and acquisitions, it said. To leverage growth, ICRA predicted that tyre makers would expand their dealerships and explore tie-ups among themselves to increase customer bases. Outsourcing would also play a major role as many companies have entered into offtake agreements with tyre producers in South-East Asia, Eastern Europe and Latin America.

25th March 2004/by Tyrepress Editors

New Bridgestone CEO Eyes Profit-Making

Mark Emkes says his top priority as the new chief executive of Bridgestone Americas Holding Inc. is to make the division he headed the past year turn a profit. As the Nashville-based business continues its turnaround from a devastating tyre recall in 2000, three units are making money. Not Bridgestone/Firestone North American Tire, which includes tyre manufacturing and sales of wholesale and original equipment. “We’ve made nice progress over the last 12 months, but the goal for 2004-2005 is to make that business profitable,” said Emkes, who will continue heading that division even as he takes over the entire company after John Lampe retires on March 31st.

12th January 2004/by Tyrepress Editors

Pirelli is on schedule

For Pirelli the current year is on schedule in the face of good sales and earnings. Higher prices for raw materials won’t burden Pirelli’s results before the new year. Talking to TYRES & ACCESSORIES at the SEMA show in Las Vegas, Dr. Francesco Gori, Managing Director of the Pirelli Tyre Sector, again affirms the good business in the USA. For the second time in a row Pirelli will end a year making a profit on the biggest tyre market in the world. This is even more remarkable, because Pirelli has just opened its MIRS-plant in Rome, Georgia, for which the company has incurred launch costs. During the last years the Italian company was pleased with an annual sales growth of about 20 per cent. This was partly because of the OE business Pirelli undertakes with car makers Ford and Chrysler. But not only that, the tyre maker has gained ground also on the replacement market after the sell-out through mass merchandisers has been stopped. In Latin America Gori expects Pirelli to be clearly number one ahead of Goodyear, whose Mexican activities structurally belong to the North American business (Nafta). The prospects are rather good that Pirelli will generate sales of more than 3 billion euro during this year solely with tyres; during last year this economic indicator stood at 2.857 billion euro. Exact figures concerning third quarter performance will be published on November 11.

6th November 2003/by Tyrepress Editors

Goodyear Latin America appointment

Eduardo A. Fortunato (50) has been appointed president of Goodyear’s Latin American tire business, succeeding Chris W. Clark. Fortunato’s previous post of president and MD of Goodyear Brazil has been taken by Chris Corcoran, currently director of sales and marketing, Latin America. Fortunato joined Goodyear in 1975 in the Engineered Products division.

5th November 2003/by Tyrepress Editors

New Pirelli Plant in Brazil

Pirelli has opened its new Feira de Santana factory in Bahia, Brazil. With a primary investment that amounts to about 120 million US dollars, the plant has 32,000 square metres of constructed area. The initial daily production is of to 2,500 high performance radial tyres, which will be destined to the domestic and Latin-American markets, as well as the American and European ones. In 2005, when the factory will be at full operating capacity, approximately 7,500 tyres will be manufactured a day. On a second phase, investments of more than 80 million US dollars are already proposed, which will allow the increase of the capacity of production to 13 thousand tyres a day.

23rd September 2003/by Tyrepress Editors

Q2 Net Loss For Goodyear, But Sales Rise

Goodyear’s 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. Chairman and CEO Robert J. Keegan described the results as „disappointing“, but said he was encouraged by the „numerous positive trends„ (notably operations outside North America) and he was „optimistic“ about the turnaround plans.

1st August 2003/by Tyrepress Editors

Pirelli holds its ground in the international tyre business

When Pirelli became active in the telecommunications business, there was speculation that the company might abandon tyres, or at least certain sectors, such as truck tyres.This has proved to be unfounded, however and Francesco Gori, the man responsible for Pirelli’s tyre business worldwide, discusses the results for the first months of this year. The Tyre Division accounts for 51 per cent of Pirelli’s overall turnover and, although the Tyre Division turnover in quarter one 2003 fell by 2.2 percent to 741 million Euro, the EBIT increased at the same time by 20.4 percent to 65 million Euros.Pirelli is still a mainly European tyre manufacturer. 60 per cent of its turnover (14 per cent in Italy, 46 per cent in the rest of Europe) comes from Europe. Pirelli’s Tyre division makes another 19 per cent of turnover in Latin America, while Northern America only accounts for 8 per cent. But this in turn shows the huge potential that Pirelli still has in the biggest single market in the world.And it is the new MIRS-plant in Rome, Georgia, that will be looked to to improve Pirelli’s standing in the American market.Francesco Gori can sit back and await developments because the starting point for Pirelli is much better than for that of many other tyre manufacturers. This is mainly because the UHP sector, where Pirelli sets the standards, is much more cost resistant than any other sector. And with its new MIRS-plant, Pirelli has just begun to write a long and successful history, Gori says.

8th July 2003/by Tyrepress Editors

Bridgestone To Invest In Thailand Too

Bridgestone is to invest 12.6 billion Thai Baht (256.79 m Euros) to raise output in Thailand of tyres, cord and carbon black, in order to meet expected rising global demand. Steel cord production at the Chon Buri factory will triple to 28,000 tonnes by 2005 and work will start on building a tyre factory there next April, producing 900,000 radial truck and bus tyres in the second half of the year. The Bridgestone group in Thailand consists of seven companies and the latest investments will see the local workforce grow from the present 3,600 to 5,500.

28th May 2003/by Tyrepress Editors