Manufacturing Archives - Page 248 of 258 - Tyrepress

Whether its raw materials, machinery, research and development or the latest manufacturing trends, this tag provides up-to-the-minute insights into the upstream part of the tyre industry.

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Bridgestone Profits Doubled In 2002

Japanese tyre giant Bridgestone Corporation has reported a strong rise in net profit for the year ended December 31, 2002, and predicts a gain for 2003 as well, even though it warns that business conditions are getting tougher. Bridgestone’s group net profit more than doubled to US$378 million, from US$145 million, on brisk overseas sales. Group sales climbed 5.3 per cent to US$18,700 million, with pre-tax profit jumping 99 per cent to US$1,233 million. For the year to December 2003, the company said it expects group net profit to come to US$584 million, the same mark it initially set for 2002. It forecasts pre-tax profit to shrink to US$1,042 million and sales to slip to US$18,682 million. Bridgestone is boosting its capital spending in 2003 by more than 60 per cent to US$1.6 billion. The company’s president, Shigeo Watanabe, said the investment is aimed at boosting output capacity in Thailand and Poland, as well as upgrading each plant in Japan.

25th February 2003/by Tyrepress Editors

Sales And Profits Rise For Nokian

Good 4Q sales have helped Nokian to increase turnover and profits for last year. Sales rose 13.2 per cent to 479.2 million Euros (2001: 423.4 m). Operating profit was up at 60.1 million Euros (2001: 50.1 m) and profit before taxes rose 29.5 per cent to 48 million Euros (2001: 37 m). Sales from car tyres were up 17.5 per cent to 242.8 million Euros (2001: 206.6 m) and operating profit rose 10 million to 51.4 million Euros. Much of the tyre sales (73 per cent) came from winter tyres. There were increases too in sales of heavy tyres and bicycle tyres, but sales of retreading materials slipped slightly. The Vianor chain also showed an increase in turnover and profit.

19th February 2003/by Tyrepress Editors

French manufacturer takes 10% stake in Hankook (Update)

Towards the end of January, news broke of a partnership agreement between Michelin and Hankook Tire, whereby the French manufacturer took a 10 per cent stake in the Korean company. The deal was signed in Seoul by Hankook Tire president Choong Hwan Cho and Michelin Asia-Pacific president Jean-Marc François and, according to the official communiqué, the purpose was to allow the companies to exploit synergies in a search for common opportunities to develop their respective positions in the tyre market.

18th February 2003/by Tyrepress Editors

Sherbrook Wheels: Turkish Delight In Lichfield

Lichfield-based Sherbrook International Ltd is entering the alloy wheel market and aims to hit the big time. It may be a new name in the wheel sector but the company has a long-standing heritage in the automotive industry and, for a newcomer to the wheels’ market, has an excellent record for getting things right. This could be just another player trying to make a few extra pennies from selling wheels while the market lasts but nothing could be further from the truth.The company has grown to a staff of 25, sourced from the automotive industry, each an expert in his or her field, carrying out negotiations between both ends of the supply chain. The company offers a 24/7/365 office service to the trade with constant monitoring of schedule performance and awareness of in-transit goods. This is built on effective customer communication and enables stock to be ordered from across the continent, or around the globe to meet Just In Time production processes. Rapid reaction to customer demands and a local technical support team result in quick problem solving which, with an agreed stock buffering system, eliminates supply chain down time from the manufacturing process.Now the company has a turnover in excess of 30 million Pounds and the financial backing of a large Turkish commercial organisation. Koç, this Turkish conglomerate, took over Sherbrook in 1998 giving the company a secure financial future and access to an even wider market and production base. Koç operates in Turkey on many levels, and its company logo of a Ram’s head in red outline is visible everywhere, especially in the Izmir area. In 2000 the Koç group had 9.2 billion Dollars of consolidated sales from 92 group companies employing 35,500 people. Core businesses cross many sectors, including automotive, banking, construction, household appliances, IT, and food and tourism. In the automotive sector the company has strong links with Land Rover, Ford, Iveco, Fiat and in components covers almost all areas. However, it is the Döktas foundry business which has led the company into wheel distribution in the UK.

10th February 2003/by Tyrepress Editors

What Is The Future For Goodyear?

Four years ago: In an interview at the Geneva Autoshow, Goodyear CEO Sam Gibara put forward his views. Goodyear had, according to him, the best people, the best distribution, the most cost-effective plants, the best products and – with its innovative EMT tyres – a three-year lead over its competitors. Within three years, he predicted, 75% of Goodyear tyres produced would be EMT tyres (in 2002, the actual figure was one million tyres). The IMPACT production process (Integrated Manufacturing Precision Assembled Cellular Technology) was held up as a revolutionary advance, guaranteeing predominance over the competition and an example of Goodyear’s technical leadership.The reality is that there have been no significant profits for years and Goodyear is still in third place. It made a loss of $203 million in 2001 and might not have been able to avoid another loss last year. Goodyear needs a turnaround in its loss-making home market, costs are too high, selling prices are too low and the once-proud corporation is fighting for nothing less than its survival, however unpalatable this might sound to company managers.In the first two years under Gibara’s leadership, Goodyear enjoyed very good results, but these have since declined to today’s levels and the “Mission into the 21st century” has been a flop. The group is overloaded with a mountain of debt, has big problems with its underfunded pension fund and the credit rating was reduced to junk bond status.All this means no picnic for Gibara’s successor Keegan, who knows that his assignment is a difficult one but who believes that the problems are manageable. What he does not know for sure is whether he will have time enough to make the turnaround happen.

10th February 2003/by Tyrepress Editors

Weaker 2003 For Bridgestone Australia

Raw material price uncertainty is likely to pull down Bridgestone Australia’s profits for 2003. This follows significant rises in the prices of natural and synthetic rubber. The company reported a profit of 12.6 million Australian Dollars for 2002, a 41.2 per cent rise on the previous year. Total revenue rose from 513 million dollars to 517 million dollars. The improvements in profitability came from non-tyre related business and reduced borrowing costs. A company spokesman said that the tyre business in Australia remained marginal and directors are concerned that significant improvements in productivity and reduction in manufacturing costs will be required to sustain this business into the future.

3rd February 2003/by Tyrepress Editors

Scottish Plant To Manufacture New Michelin Tyre

Michelin’s Dundee plant is to manufacture the new Michelin Energy 3 tyre being launched this week. This is good news for the workers at the Baldovie plant. The future of the plant had recently been the subject of speculation as Michelin moved production to cheaper labour cost centres in Eastern Europe. However the announcement of the selection of Dundee to manufacture the new tyre brings a boost in confidence. Plant manager, Trish Bailey said, ” This is a very positive signal for the Dundee factory going into the future. The new tyre is at the very heart of the Michelin range and we are going to play a very important role at the centre of its production. This will contribute to job security for the workers in Dundee.”

3rd February 2003/by Tyrepress Editors

What Is The Future For Goodyear?

Company News, International News

Four years ago: In an interview at the Geneva Autoshow, Sam Gibara put forward his views. Goodyear had, according to him, the best people, the best distribution, the most cost-effective plants, the best products and – with its innovative EMT tyres – a three-year lead over its competitors. Within three years, he predicted, 75% of Goodyear tyres produced would be EMT tyres (in 2002, the actual figure was one million tyres). The IMPACT production process (Integrated Manufacturing Precision Assembled Cellular Technology) was held up as a revolutionary advance, guaranteeing predominance over the competition and an example of Goodyear’s technical leadership.

31st January 2003/by Klaus

More Cuts At Goodyear

The Akron Beacon Journal (ABJ) reports that Goodyear plans to cut 15 per cent of its North American tyre production capacity and move production to low cost centre countries. The source was an internal company newsletter distributed to employees on Wednesday.

30th January 2003/by Tyrepress Editors

Bosal UK Achieves ISO14001

Bosal UK has become the first of Bosal’s European manufacturing group to achieve the prestigious ISO14001 environmental management system (EMS) accreditation. In order to qualify for the standard, Bosal adapted many of its operational processes to reduce the Company’s impact on the environment.

29th January 2003/by Tyrepress Editors

Michelin To Buy 10 Per Cent Of Hankook

Michelin and Hankook have signed a partnership agreement, involving co-operation in R&D, manufacturing and distribution. Hankook will be licensed to produce Michelin’s PAX run-flat technology as part of the agreement. Michelin will take a 10 per cent stake in the Korean company, which, based on the share price when the deal was signed, is estimated to be worth just over US$ 33 million. Shares in Hankook rose almost five per cent on the news, nearly four times better than the market in general.

28th January 2003/by Tyrepress Editors

Nokian and Matador To Commence Contract Manufacturing

Company News, International News, News

Nokian Tyres plc and Matador AS are signing a contract manufacturing agreement. This transaction will mean that Matador will produce Nokian branded speed categories S, T, and H car summer tyres at its factory in Slovakia. The tyres will be sold in Eastern European markets. The production target for 2003 is 100 thousand Nokian tyres with initial sales taking place during the first quarter of the year. Volume manufacture will increase to 300 thousand tyres by the end of 2005.Through contract manufacturing Nokian will continue to ensure its growth potential in Eastern Europe. Production capacity at the company’s factory in Finland will be freed to produce ultra high performance tyres. The agreement will be valid until the end of 2005 and after that on a one-year basis.

15th January 2003/by Tyrepress Editors

J. K. Tyre – 25 Years Of Leadership

India’s largest four wheeler tyre manufacturer celebrates its silver jubilee. J. K. Tyre is a division of J. K. Industries, which is itself a flagship company of the J. K. organisation; one of the largest industrial groups in India. As well as tyres, the group’s manufacturing activities include paper, cement, textiles, hybrid seeds, cosmetics, power transmission – the list is as varied as it is extensive. J. K. Tyre was established in 1977 and has established itself as India’s number one manufacturer of tyres for four wheel vehicles under the JK Tyre and Vikrant brands. In this sector, J. K. Tyre claims a domestic market share of 20.8%. In the truck and bus tyre market, which accounts for around 80% of the Indian tyre market by value, J. K. Tyre claims a market-leading 25.8% share.In 1997, J. K. Industries took a major strategic decision to acquire Vikrant Tyres Ltd., an ailing tyre manufacturer. With the input of J. K. Tyre’s expertise, systems, marketing and work practices, Vikrant achieved a remarkable turnaround, returning to profit after only ten months. Today, J. K. Tyre has four Indian production facilities, with a capacity of 5.5 million tyres. This growth is set to continue, with production over the next two or three years rising to some eight million tyres. The company also boasts India’s first, and only, all-steel truck and bus radial plant. Being a pioneer of radial technology involved J. K. Tyres in a great deal of hard work and effort to spread the word about the benefits of radials, but this has been rewarded as the J. K. Tyre brand is strongly associated with radial tyres. The company’s marketing strategy was focused on offering high performance radials with service being the brand differentiator.One aspect of this was the establishment of a chain of retail outlets, offering a one-stop sales and service centre. Going under the name “Steel Wheels”, there are more than 100 such outlets in India and J. K. Tyre claims that they have revolutionised tyre retailing in India – offering services such as wheel balancing and alignment and advice on tyre care by well-trained technical staff. Another marketing initiative is the “Dial-a-Tyre” service, which allows customers to have tyres delivered and fitted in the comfort of their own homes. This is the latest in a line of innovations, which includes India’s first T-rated tyre, the first H-rated tyre and the country’s first Dual Contact tyre, the “Aquasonic”. The company manufactures a range of tyres to suit all four-wheel applications, from cars to trucks and buses, agricultural vehicles and tractors, plus there is also a range of tyres for animal-drawn vehicles. Both radial and bias ply tyres are produced.

9th January 2003/by Tyrepress Editors

Shanghai Tyre & Rubber Company Limited: Double Coin

Along with the dawn of the 21st century, Shanghai has very quickly become the international economic trading capital of China. The city is the showcase of reform, increasingly attracting foreign investment in new business enterprises. Just outside the city centre is the industrial district of Min Hang and this is home to China’s largest tyre producer, Shanghai Tyre & Rubber Company Limited.The Shanghai Tyre & Rubber Company was incorporated on 4th July 1992. It was restructured from the two oldest tyre manufacturing plants in China, both having a history stretching back over seventy years, the Ta Chung Hua Rubber factory and the Tsen Tai Rubber factory. In the early 1930s these two tyre producers first established the brand names Double Coin and Warrior. In September 1998 a joint venture was agreed with First Tractor Group of China to produce agricultural tyres, expanding the existing capacity by nearly 50 per cent to 900,000 tyres and consolidating its access to the agricultural market. In the same year the company completed a $95 million US dollar expansion programme at the Min Hang factories. Weak domestic demand and the Asian crisis did see a downturn in profits as the decade came to an end, at the same time, selling prices were cut by ten per cent in order to compete with some foreign, and particularly South Korean, tyres. This was a setback, but no more than that. The company has shown itself to be extremely perceptive and very determined.Within the Shanghai Tyre Company today there are three principal tyre producing factories. An all steel radial truck tyre plant manufacturing the Double Coin brand, and a passenger and light truck tyre radial factory producing the Warrior brand; this plant has been a joint venture with Michelin since March 2001. Finally, a bias-ply plant manufacturing passenger, truck, a massive range of agricultural, off-road, industrial and motorcycle tyres in a total of over 350 specifications. The company is the 15th biggest tyre producer in the world, employing over 11,000 people.

9th January 2003/by Tyrepress Editors

Changes At Bridgestone USA

Noburo “Tim” Kawakami, president of Bridgestone/Firestone manufacturing operations in the USA, is to retire on March 31 next year. His place will be taken by Masao Wada, currently manager of the factory at Aiken County, South Carolina, and succeeding Wada will be Mike Rose, operations manager at the facility. In keeping with events in Europe, the American subsidiary is changing its name, from Bridgestone/Firestone Americas Holding to Bridgestone Americas Holding.

30th December 2002/by Tyrepress Editors