latin Archives - Page 7 of 19

Bridgestone to invest in Costa Rica production and services

Two planned investments will increase Bridgestone’s presence in Costa Rica: The local subsidiary of Bridgestone Americas Tire Operations (BATO), Bridgestone de Costa Rica, has announced the company’s new Financial Shared Services Center for the Latin American Region is to be located in the Central American country. Bridgestone also confirmed it will invest US$70 million in its La Ribera de Belen tyre factory in Heredia province over the next five years.

6th June 2011/by Tyrepress Editors

Analysts: Bullish Pirelli meets expectations

Career Tracks

During a recent roadshow with financial analysts Pirelli & C Spa chairman Marco Tronchetti Provera told the market watchers that the tyre industry is benefitting from an unprecedented combination of favourable conditions. Morgan Stanley analysts agreed, explaining that the Italian tyremaker’s upbeat comments support the bank’s thesis and “overweight” rating: “Pirelli remains an attractive second derivative play on booming premium car demand, offering unmatched premium tyre and emerging market exposure.”

17th May 2011/by Tyrepress Editors

Titan’s earthmover tyre business “really taking off” – Taylor

Company News

According to Titan International chairman and CEO Maurice M. Taylor, momentum from the “outstanding” first quarter the company experienced should “carry over into future quarters of 2011.” Upon announcing sales of US$280.8 million during the three months to March 31, a 41 per cent year-on-year increase, Taylor reported continued strength in Titan’s agricultural tyre and wheel business plus growth in the earthmover and construction tyre business; this sector is, the chairman and CEO commented “really taking off and I believe it will strengthen throughout the year.” He further opined that Titan’s markets are “going to keep moving upwards over the next 18 months.”

29th April 2011/by Tyrepress Editors

Hankook sales surged 16.3% from Q1 2010 to 1.4 trillion won on European growth

Career Tracks

Hankook Tire announced the highest quarterly global sales on record for the first quarter of 2011 with turnover totalling 1.4 trillion Korean won, a 16.3 per cent year-on-year increase. Hankook Tire’s first quarter operating profit for 2011 amounted to 179 billion won. Operating profit to sales ratio was 12.4 per cent, up from 6.9 per cent in the fourth quarter of 2010.

21st April 2011/by Tyrepress Editors

Goodyear has “positive momentum”: Kramer

Career Tracks

In his address at The Goodyear Tire & Rubber Company’s Annual Shareholder Meeting today, chairman and chief executive officer Richard J. Kramer said he is confident in Goodyear’s strategy and believes the company is well positioned to achieve its goals, having been pleased with Goodyear’s 2010 performance, which exceeded the company’s targets. The company’s financial results reflected significant improvement in all four regional tyre businesses, most notably North American Tire’s return to profitability, he said.

12th April 2011/by Tyrepress Editors

BSM Technologies and EMS Technologies to distribute in Latin America

News

BSM Technologies Inc., a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, and EMS Global Tracking, part of the Global Resource Management business of EMS Technologies, Inc. said (on 3 April) that they are extending their existing reseller agreement to distribute BSM’s SecTrack products and services to Latin America.

4th April 2011/by Tyrepress Editors

Sale of Goodyear Latin America agri tyre business completed

Company News

The sale of Goodyear’s Latin America agricultural tyre business to Titan Tire was completed on April 1. Goodyear reports completing the sale for approximately US$99 million, subject to post-closing conditions and adjustments. The transaction includes the company’s Sao Paulo manufacturing plant, property, equipment and inventories and a licensing agreement that will allow Titan to sell Goodyear-brand agricultural tyres in Latin America and North America.

4th April 2011/by Tyrepress Editors

Pirelli launches “eco-friendly” Cinturato P1 for small-medium segment

News, Premium

Pirelli has consolidated the “green” side of its range of tyres with the launch of the company’s new Cinturato P1 tyre, designed for small to medium-sized vehicles. The tyre was launched at an event in Fasano, near Brindisi in the picturesque environs of south-east Italy. Tyres & Accessories travelled to the launch to test-drive the tyre at its world premiere by the European media in Puglia, on a route winding through olive tree plantations, beautiful villages punctuated by old agricultural storehouse (or trulli) and the Adriatic coast. The P1 provides strikingly quiet running, with a reduction of around 30 per cent – or one decibel – on the tyre’s predecessor, the Cinturato P4, while improving rolling resistance was also an important factor in the tyre’s development, with reductions of up to 25 per cent quoted by the company. It has not escaped the attentions of Pirelli that both characteristics will be two of the three featured ratings on the EU’s mandatory tyre label, coming into force in 2012.

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4th April 2011/by Tyrepress Editors

Goodyear switches Optitrac farm tyre product strategy to specific applications

News

Goodyear has detailed a change to the product strategy of its million-selling Optitrac range of farm radial tyres, which is to become more application focused. Commenting on these new developments to the Optitrac range, Phil Stanton, Goodyear’s Farm Tyre manager, said: “Goodyear has found that the trends in the agricultural machinery market, particularly with the high end machines, means that application specific tyres will be required in the future. The differing performance requirements of tractors and harvesters can no longer be fully satisfied by the same tyre. The 2 new ranges of tyres will clearly segment our OPTITRAC product line into specific tyres for tractors and for harvester machines and will have features that will provide the performance benefits demanded by the operators of these machines.”

21st March 2011/by Tyrepress Editors

Conti announces capacity-doubling Brazil investment

News

A US$210 million investment in Continental’s Camaçari, Brazil plant is expected to boost capacity to around nine million passenger car tyres and almost a million truck tyres per annum within the next five years. Announcing the growth plans, Continental Tire the Americas CEO Matthias Schönberg stated “this investment is part of Continental’s strategy to grow our tyre operations worldwide significantly, especially in the BRIC countries. It will allow us to almost double the production capacity of the Camaçari plant by the end of 2015.” The first signs of capacity growth will be witnessed this year as plant capacity is expected to creep up from its current approximate level of 4.5 million passenger tyres and 350,000 truck tyres to 5 million passenger tyres and 450,000 truck tyres.

17th March 2011/by Tyrepress Editors

Titan introduces Goodyear Optitrac R+

News

Titan International’s acquisition of Goodyear’s European and Latin American agricultural tyre business has given the US tyre maker access to agricultural products designed at the Goodyear Innovation Center in Colmar Berg, Luxembourg – including the Goodyear Optitrac R+. In March 2011 Titan Goodyear Farm Tires announced its introduction of a tyre that has proven popular with European farmers during the past five years.

8th March 2011/by Tyrepress Editors

Pirelli signs agreement with Genan for recycled tyre rubber reuse research

News

Pirelli has announced that it has signed a research agreement with Danish tyre recovery company Genan to find ways of reusing industrial raw materials in tyre production. Managing director of Pirelli Tyre, Francesco Gori said: “Being able to reduce the dependence of the production cycle on natural rubber by 10 per cent could produce considerable savings”. Gori also said the use of materials recovered from tyres could become a necessity based on “sustainability”.

2nd March 2011/by Tyrepress Editors

Titan to raise US aftermarket farm, construction tyre prices

News

Titan Tire, the US subsidiary of Titan International, has announced that it will increase its aftermarket prices for its Titan and Goodyear branded farm and construction tyres from 1 April. On the back of raw materials, energy and transportation costs tyre prices will increase by up to 8 per cent, though Titan also stated that “certain tyres’ prices may rise in excess of 8 per cent due to realignment and positioning of the product.” The rise will affect tyres shipped on or after the date of the increase.

15th February 2011/by Tyrepress Editors

TGI opens Peru office

News

Tire Group International (TGI) is expanding its tyre marketing and distribution in Latin America and the Caribbean by opening a new sales office in the Peruvian capital, Lima. The sales office will be headed by Fredy Montoya Soriano, who has more than 35 years’ experience in the tyre and automotive industries.

8th February 2011/by Tyrepress Editors

Lanxess appoints new CFO following Zachert’s resignation

News

At its February 3 extraordinary meeting, the Lanxess AG Supervisory Board agreed to revoke the contract of chief financial officer and Board of Management member Matthias Zachert. This measure was taken at Zachert’s request, Lanxess reports. The 43-year old has served on the Lanxess Board of Management since 2004.

3rd February 2011/by Tyrepress Editors

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