Continental Tire the Americas’ head of Commercial Vehicle Tire sales, Javier Mendoza, has taken on a new role within the company. On 1 August, he began as head of the CAMEXCA (Mexico, Caribbean and Central America) market for Continental Tire de Mexico. In addition to this role, he also will be responsible for heading up the company’s Passenger and Light Truck tyre replacement sales business.
In its financial results for the March to June quarter – the first quarter of its current financial year – JK Tyre posted a net profit of Rs 540.4 million (£5.7 million), a year-on-year increase of 265.9 per cent. Quarter net sales came to Rs 18,669.4 (£196.0 million), 3.3 per cent higher than in the first quarter of 2012.
The Yokohama Rubber Co., Ltd. subsidiary YH America, Inc. (YHAI) will produce automotive air conditioning hoses in Mexico next year. According to the company YHAI plans to begin delivery of the hoses to a Japanese car maker in Mexico from summer 2014. To limit the investment burden, YHAI will consign assembly to a local company rather than build its own plant. It also aims to use the Mexican output to expand transactions with Japanese car makers and with the US Big Three. Local Mexican production will be located in the suburbs of the west central Mexican city of Aguascalientes, where a number of auto makers have established plants.
Announcing its results for the first half of 2013, Pirelli has shown a year on year 6.1 per cent reduction in earnings before interest and taxes compared with the first half of 2012. This occurred in spite of a second quarter in which the manufacturer saw signs of improvement, with revenues climbing 8.8 per cent on 2Q 2012 following a 1.3 per cent YoY reduction in the first three months of the year. However, net profit for the quarter was also some way off that of the 94.9 million euro achieved in 2012, at 78 million euro.
Wheel manufacturer Superior Industries International has reported a slightly lower year-on-year net income for the second quarter of 2012. Net income decreased from US$6.4 million a year ago to $6.3 million in the March to June quarter.
Transport Canada has issued a recall for several models of Michelin tyres, Tire Review reports. “A loss of inflation pressure could cause increased tyre temperature, which could lead to tyre failure. This could result in a vehicle crash causing property damage and/or personal injury,” Transport Canada said. The SUV or light truck tyre models affected are the LTX M/S2, the X Radial LT2 and the Latitude Tour sold primarily in the US, Canada and Mexico.
Michelin North America is seeking 2,500 potentially defective tyres, but in order to retrieve these, the company is recalling around 100,000 tyres. The target 2,500 tyres could experience partial or full sidewall perforations that may cause them to experience loss of air pressure. The recall involves certain sizes of the Michelin LTX M/S2, Michelin X Radial LT2 and Michelin Latitude Tour sold primarily in the US, Canada and Mexico. The tyres are typically found on light trucks and SUVs.
Pirelli’s factory in Silao, Mexico, which was inaugurated in May 2012, has produced its millionth tyre and is gearing up to become the Italian tyre maker’s dominant NAFTA region supplier. Covering an area of 135,000 square metres, the Silao plant’s capacity will reach 3.5 million tyres in 2015. When fully operational in 2017, production is expected to reach 5.5 million pieces, according to Pirelli. The tyre maker’s total investment through 2017 will amount to approximately US$400 million.
In February, Cooper Tire & Rubber Company and Mexican firm Industrias Negromex S.A. de C.V. (INSA) jointly earned a US patent (8,357,733) for a process to produce silane, hydrophobated silica, silica masterbatch and rubber products. Building on this announcement, on 7 June the two companies reported achieving a further significant milestone. They have successfully evaluated silica masterbatch technology in full-scale production facilities and demonstrated that tyres produced with silica masterbatch technology offer a range of benefits compared with tyres produced using conventional dry silica mixing technology.
Trelleborg Wheel Systems has entered into an agreement with off-road tyre wholesaler Neumáticos Muevetierra to supply the Trelleborg agricultural range in the Mexican market. The initial portfolio on offer includes the new Maximo R1 radial range and the TH400 agro-industrial line.
In order to expand its market presence through direct sales, customer service and more efficient distribution channels, Yokohama rubber has established a subsidiary in Mexico. Guanajuato-based Yokohama Tire Mexico S. de R.L. de C.V. (YTMX) was founded in March, with former Yokohama Tire Corporation vice-president Gary Nash taking on the role of president as of 1 April.
There are reports from the North American International Auto Show, (Detroit, Jan 14 – 27) that Volkswagen will decide this year whether to introduce a new budget brand aimed at developing markets.
If the company decides to go ahead, it would almost certainly start in China, where VW recorded a near-25 per cent increase in sales to a total of 2.15 million in 2012. But India and other new markets such as Mexico could also be targets for a low-cost VW brand.
Yokohama Tire Corporation-sponsored off-roaders Cameron and Heidi Steele are competing in the storied SCORE Tecate Baja 1000, at Mexico's Baja Peninsula, betweenNovember 14-17. The Steeles, along with their Desert Assassins teammates, will race on various Geolandar tyres along the demanding course. The 45th running of the race goes from Ensenada to La Paz and is the SCORE (Southern California Off Road Enthusiasts) racing series season finale.
Eldan Recycling A/S, Faaborg has sold a complete cable granulation and separation plant to Viakon Conductores Monterrey, Mexico. The system will turn mixed cables and wire into pure copper and plastic at approx. 1000 kg per production hour.
Wheel manufacturer Superior Industries International has reported a net income of US$6.4 million for the second quarter of 2012. This result for the three months to 30 June represents a 56.4 per cent year-on-year drop in net income despite a three per cent increase in consolidated net sales to US215.1 million. Unit shipments increased 14 per cent to 3.3 million from 2.9 million in last year’s second quarter, while gross profit was $15.7 million, or seven per cent of net sales, compared with $19.5 million, or nine per cent of net sales, in the comparable period a year ago.
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