Bridgestone has renewed its sponsorship of Copa Sudamericana, the South American football cup. On 2 July the tyre maker confirmed it has signed on for a second year with the championship that is contested by 47 clubs from Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Paraguay, Peru, Uruguay and Venezuela. Bridgestone’s title sponsorship is again reflected in the event’s name – Copa Bridgestone Sudamericana.
Alongside the agricultural and off-road tyres it is well known for in Europe, at Reifen 2012 Indian manufacturer Ceat showed off its passenger car tyre range – a line-up it intends to bring to Europe in the very near future. “At Reifen we are firstly promoting our truck and bus radial and passenger car tyre lines,” Trilok C Goel, Ceat’s executive director of specialty tyres and business development, commented to Tyres & Accessories. “We are already quite strong in agri in Europe.”
Around 30 million euros have been earmarked for productivity and energy efficiency upgrades at the Lanxess high performance rubber facility in Port Jérôme, France, the company announced on 30 May. This investment will be made by 2015, and will support Lanxess’ aim of increasing capacity for rubber grades used in low rolling resistance tyres. The plant, established by Firestone in 1962 by and purchased by Lanxess in 2004, currently produces 140,000 tonnes of neodymium-polybutadiene (Nd-PBR) and solution styrene-butadiene (SSBR) per annum.
In addition to three new designs of pre-cured treads, Brazilian retreading materials manufacturer has confirmed that it will display its ECO line of precured treads. The company, which has three distribution centres in Europe, says the ECO treads provide decreased fuel consumption and a increased longevity.
The Al Dobowi Group has appointed Nigel Hampson to the position of head of business development. Previously Hampson had worked for Cooper Avon Tyres and Cooper Tire Europe since 1996 in several managerial roles in the company. He was most recently sales and marketing director for Europe, Middle East and Africa, before joining the Al Dobowi Group.
The Latin American & Caribbean Tyre Expo 2012 has reported an increase in its exhibitor list by 60 per cent, with the addition of two new halls to the existing space at the Atlapa Convention Center in Panama. The four-day show and conference will celebrate its third anniversary when it opens on July 25, 2012, with over 160 exhibitors signed up thus far, including Bridgestone, Triangle, Double Coin, JK Tornel, Titan International, CEAT, and “platinum sponsor”, Sailun Tire. “Our vision is to bring global manufacturers and suppliers directly to the Latin markets and to get the Latin dealers to those manufacturers in a familiar venue,” said show director, Linda Bassitt.
Continental AG could re-join the German DAX index as early as June or September. Financial analysts also expressed support for continued growth at Conti, with Morgan Stanley summing up the firm’s expectations of the company in a single word – “confidence.” In an investor’s note dated 9 May, the bank continued by explaining its view that the latest feedback on vehicle production orders and tyre price discipline indicates that company targets “may prove conservative.”
Titan International is very pleased with its first quarter 2012 results. The company recorded sales of US$463.1 million for the three-month period, compared to first quarter 2011 sales of $280.8 million; these higher sales levels are attributed to the April 2011 acquisition of Goodyear’s Latin American agricultural tyre business, which recorded sales of $90.3 million for the first quarter 2012 and continued to benefit from strong demand in the agriculture and earthmoving/construction segment, combined with price/mix improvements.
Goodyear's 2012 annual shareholder meeting was held on 17 April at the company’s headquarters in Akron, and chairman and CEO Rich Kramer told those in attendance that he was “pleased” with the tyre-maker’s 2011 performance, outlining the company’s “strategy roadmap”, Tire Review reports. Pointing to record sales of $22.8 billion and record segment operating income, Kramer said, “What is most gratifying is that our record results across all global businesses were achieved in the midst of continued economic uncertainty around the world through successful execution of our strategy. Our ‘strategy roadmap’ is the foundation for decisions on every aspect of the business, from marketing and product development to investment and team building.”
When Tyres & Accessories last caught up with Tire Group International a year ago, the Miami, Florida-based wholesaler was able to report a highly successful 2010, with revenues up 35 per cent year-on-year and unit sales climbing 26 per cent to around 1,200,000 pieces. Back then company CEO Antonio Gonzalez said he expected continued growth in 2011, and TGI has delivered on this forecast; last year the US wholesaler achieved a 25 per cent increase in unit sales and revenue grew by a third. And while we’re currently less than a quarter of the way through 2012 and the year may yet throw a surprise or two in our direction, recent and current developments at TGI indicate the company will once again report strong annual growth.
They say that all publicity is good publicity, but Goodyear executives probably could have done without the publicity it got from CNBC last week. The consumer news and financial information channel asked why Goodyear shares had fallen 13 per cent this year in an improving environment during a 7 March broadcast. The answer that Jeffery B. Middleswart, president, director of research at Behind the Numbers, was blunt to say the least: “This is a company basically bleeding to death.”
Michelin has strengthened its relationship with Rockwell Automation with the signing of a four-year preferred supplier agreement. As per the agreement, Rockwell will supply tyre manufacturing automation and control equipment to Michelin facilities all over the world.
Hankook Tire says its global sales last year reached record levels. The Korean company’s tyre sales in 2011 amounted to KRW 6.484 trillion (£3.7 billion), a 20.9 per cent year-on-year increase. Yet thanks to steep rises in raw material prices this bumper sales year was not accompanied by a corresponding increase in operating profit – in 2011 this reached KRW 566.3 billion (£325.1 million), a decline of 8.8 per cent on the previous year.
TGI divested its holdings in its commercial service division, Commercial Tire Service, Inc. (CTS) through a sale to Bentley Truck Services, Inc. “Our aggressive growth plans and commitment to further expanding our footprint in Latin America and the Caribbean has been the driving force behind TGI’s success. After much consideration we have decided to channel our resources and focus on the continued development of our wholesale distribution network”, said Tony Gonzalez CEO of Tire Group International. Gonzalez also stated his gratitude to the Miami-Dade County and the surrounding communities for their patronage and support of CTS over the past six years.
New blood has been injected into Goodyear’s North American leadership. John F. “Jack” Winterton has been appointed president of the company’s North American Tire consumer business unit and Phillip Kane has taken over as vice-president of the Goodyear’s North American Tire commercial tyre business. Both appointments, Goodyear comments, are effective immediately and intended to “continue the positive momentum in the company’s North American Tire business.”
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