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Cooper Tire: 2013 figures show impact of ‘unique challenges’

Less than two weeks after releasing overdue third quarter 2013 results that reflected the disruptions experienced at Cooper Chengshan in China – a situation that cost the company US$56 million in negative impact, including $47 million in lower volumes and $9 million in manufacturing inefficiencies – Cooper Tire & Rubber has published its fourth quarter and full year 2013 figures. Sales, operating profit and net profit are all lower than in 2012.

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Related news:

  1. Cooper Q1 revenue, operating profit down year-on-year
  2. Cooper Increases Sales, But Posts Loss for Half
  3. ‘Project Charlie’ – a failed attempt to resolve Cooper Chengshan standoff
  4. Cooper appeals court decision
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Hankook to receive US plant site in August

According to local body the Clarksville-Montgomery County Industrial Development Board, the site of Hankook Tire America’s future 140,000 square metre (1.5 million square foot) factory in the US state of Tennessee will be ready by 31 August. Board executive director Mike Evans said “we’re going to do everything we can to get the site ready to turn over to them by that time.” Evans told the full board that a contractor to handle the site work is expected to be selected shortly after a meeting on 17 March.

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Related news:

  1. Apollo Invests 200 Million Euros in Hungary Car Tyre Plant
  2. Yokohama announces US price rise
  3. Hankook to build US factory
  4. Hankook to build first US plant in Tennessee
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Hankook gains European funds for second Hungarian plant

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The European Commission has authorised €57.9 million of regional investment aid for Hankook Tire Hungary Manufacturing and Trading Ltd. This will be used to erect a second greenfield facility alongside Hankook’s plant in Rácalmás, which entered production in 2007. The new consumer tyre facility will produce ultra-high performance tyres, sealant and run-flat tyres, and these products will be sold globally.

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Related news:

  1. Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer
  2. Nexen appoints Seung-Do Jin as new European president
  3. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  4. Hankook stocks hit in factory fire
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Goodyear Dunlop expands German management

Goodyear Dunlop has appointed Alexander Bleider to the management of its German operation. Bleider has taken on this new role at Goodyear Dunlop Tires Germany GmbH in addition to his current position of director of manufacturing within Goodyear Dunlop’s European consumer products business, which he has held since 2008.

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Related news:

  1. Goodyear Dunlop names new German plant managers
  2. ‘One-stop’ shopping for Goodyear Customers
  3. Goodyear Dunlop Names New Supply Chain VP for EU and EEMEA
  4. Fulda Factory Receives Second Bomb Threat
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Goodyear plant evacuated following threat

Goodyear Fayetteville

US industry magazine Tire Review reports that workers at the Goodyear Tire & Rubber Co plant in Fayetteville, North Carolina were forced to evacuate the building early morning on Monday, 10 March. According to company officials, employees were evacuated at the plant around 2am after someone called in a threat. No one was injured, and […]

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Related news:

  1. Goodyear racks up 60 years of NASCAR tyre supply
  2. Goodyear is Fortune’s most admired vehicle parts company
  3. Age Interest Magazine Honours Ledbetter
  4. Temporary closure for Goodyear plant under discussion
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Sumitomo Chemical opens Singapore S-SBR plant

The new solution styrene-butadiene rubber (S-SBR) manufacturing facility built by Sumitomo Chemical subsidiary Sumitomo Chemical Asia Pte Ltd in Singapore officially opened on 7 March. The 40,000 ton per annum plant will primarily supply the tyre industry and complements the company’s existing 10,000 ton facility in Japan.

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Related news:

  1. Lanxess Appoints Front End Loading Provider for Singapore Facility
  2. IRSG Names New Secretary General
  3. Japanese Firms to Establish Singapore Synthetic Rubber Operations
  4. Groundbreaking held for Asahi Kasei S-SBR plant
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Linglong Thailand tyre factory up and running

Five weeks after its first high performance tyre was produced at the facility, Shandong Linglong Tyre Co. Ltd has inaugurated the initial phase of its ‘LLIT (Thailand) consumer tyre plant. The Chinese tyre maker’s first overseas project was opened on 22 February in the presence of approximately 500 guests from 180 countries. Upon the pressing of a ‘starting ball’ by Linglong Tyre president Wang Feng and six guests of honour, including Chinese ambassador to China Ning Fukui and Surender Singh Kandahari, president of the Al Dobowi Group, the production line stirred to life, marking the plant’s official entry into service.

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Related news:

  1. Cheng Shin Capacity to Grow 70% Through 3 New Plants
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Conti Sime to Raise Tyre Output
  4. Groundbreaking held for Conti’s Hefei plant expansion
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Hundreds of jobs to go as Michelin cuts production at Canadian plant

Production and workforce numbers at Michelin’s Granton plant in Nova Scotia, Canada will decrease between now and July 2015, the tyre maker shares. On 3 March the company announced plans to reduce passenger car and light truck tyre output there in response to declining demand for small-size car tyres.

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Related news:

  1. Rising demand prompts Michelin US factory expansion
  2. Michelin to boost North American compound capacity – $200M project announced
  3. Is Michelin considering European plant closures?
  4. Nexen Tire aims for top ten
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Long awaited Cooper 2013 3Q report reveals Apollo, Chengshan damage

Cooper Tire has released its 2013 third quarter financial report, carrying with it the scars of the failed Apollo Tyre deal and the linked issues with the Cooper Chengshan (Shandong) Tire Company (CCT) joint venture. Cooper could not report before now as a result of unrest and lack of cooperation at CCT’s Rongcheng facility in reaction to Apollo’s attempted acquisition. The company said that it will produce Q4 and full 2013 financial reports later in March.

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Related news:

  1. Cooper lawsuit to go ahead
  2. Cooper not yet ready to resume financial reporting
  3. Today is ‘D-Day’ for Cooper/Apollo deal
  4. No ‘buyer’s remorse’ – court rules Apollo not in breach of agreement
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Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer

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Yesterday, Apollo Vredestein introduced an addition to its Enschede factory that will save energy and costs and at the same time enable the company to manufacture the products it plans to introduce in coming years. The new ‘Mixer 8’ tandem mixer was officially brought into operation by Apollo Tyres’ chairman Onkar Kanwar together with Drs Theo W. Rietkerk, who is responsible for economy, energy and innovation within the government of Overijssel Province in The Netherlands.

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  • Full analysis of tyre business segments
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Related news:

  1. No deal – Cooper terminates Apollo merger agreement
  2. Hungary confirmed for first Apollo greenfield factory outside India
  3. Apollo Tyres opens €475 million greenfield Hungarian plant
  4. Cooper appoints ex-Apollo exec Ceneviz
/by

Bekaert takes on Pirelli steel cord business for €255 million

Pirelli & C. SpA has signed an agreement with Bekaert to sell 100 per cent of its steel cord activities to the Belgium-based steel wire company for an enterprise value of €255 million. At the same time, the two firms have entered into a long-term agreement for Bekaert to supply Pirelli with tyre cord. The deal is subject to regulatory approval and is expected to close in the second half of the year.

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Related news:

  1. Goodyear sells global wire business
  2. European Commission approves Bekaert acquisition of Pirelli steel cord business
  3. ZC Rubber, Bekaert sign strategic cooperation agreement
  4. Watts Becomes Certified Toyota Supplier
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Analysts: Goodyear break-up is bad news for Sumitomo

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While the news that Goodyear is looking to exit its international joint venture with Sumitomo Rubber partly precipitated a 10 per cent intra-day leap in Goodyear’s share price, commentary on the latest financials published by Sumitomo suggest that the JV break-up the two companies are currently in arbitration over could be bad news for the Japanese tyre maker.

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Related news:

  1. “Only Over My Dead Body” – Goodyear And Dunlop Brands Remain In Competition
  2. Goodyear wants to end Sumitomo Rubber tyre joint venture
  3. Goodyear ending Sumitomo alliance due to “anti-competitive” behaviour
  4. Goodyear to close Union City plant by year’s end
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Valeo to exhibit at CV Show

Valeo has signed up to exhibit at the Commercial Vehicle Show 2014 and will use the event to highlight its hugely expanded commercial vehicle parts programme. The Valeo stand will be specially arranged so that parts distributors, fleet operators and end users see first hand the multi-specialisms Valeo has in CV parts and also the high quality manufacturing and support that is available from the company.

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Related news:

  1. ‘£2bn potential for UK auto parts supply’ – report
  2. More British cars with more British components
  3. Hayes Lemmerz Completes Sale of Powertrain Components Facility
  4. Toyo Waives Inter-Company Debt
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Dunlop to evaluate new tyre options at Australian Moto2 test

Dunlop Moto2 tyre

Dunlop will test nine separate specifications of rear tyre at Australia’s Phillip Island circuit as it seeks to avoid similar problems to those that caused the Moto2 and Bridgestone-supplied MotoGP races to be shortened in October 2013. The circuit was resurfaced in 2013, and its abrasiveness caused the organisers of the Australian grand prix to […]

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Related news:

  1. European Motorcycle Champions Test New Dunlop Race Tyres
  2. Bridgestone’s Aoki explains Phillip Island MotoGP race shortening
  3. Moto2, Moto3 riders to soften approach in Japan
  4. Dunlop Prepares for Busiest MotoGP Season Ever
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Polish, Croat, UK Starco facilities supplying wheels to Husqvarna in Poland

Starco Husqvarna supply

Swedish manufacturer Husqvarna’s decision to move its manufacturing operations to Poland led to specialist tyre and wheel supplier Starco’s Polish operation assuming responsibility for the supply of complete wheel assemblies and aftermarket spare parts for Husqvarna lawn tractors.

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Related news:

  1. Gebrüder Schaad becomes Starco GS
  2. New Starco Sri Lanka solid tyre factory opens
  3. Starco enters Baltic, CIS JV with Tente
  4. Starco prepares for ‘new generation’ of Schaad management
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