We’re proud to be British at Tyres & Accessories and we eagerly follow any automotive industry developments originating in our island home. Therefore we were thrilled to hear that GENeco, a company owned by Wessex Water, has successfully trialled a Volkswagen Beetle powered by a fuel guaranteed to never run out or cause major headaches in the Gulf of Mexico.
As of August 1, Michelin North America will increase prices on a number of tyre ranges, a measure it says is being implemented as a result of rising raw material prices. Michelin brand replacement market agricultural tyres will on average coast 3.5 per cent more in the US and Canada, while prices for Michelin brand replacement market earthmover tyres sold in the US and Mexico will increase by three per cent.
For the year ended March 31, 2010, JK Tyre & Industries reports consolidated net sales of Rs 45,706 million (₤672.2 million). A comparison with the previous financial period is not possible, notes the tyre maker, as the fiscal period ending March 31, 2009 was an 18-month period. Net profit for the year to March 31, 2010 stands at Rs 2,197 million (₤32.3 million). JK Tyre & Industries comments that its sales and profits for the year “are the highest ever, despite disruption of operations at Kankroli Tyre Plant, Rajasthan for three months owing to [an] illegal strike by workmen during the year.” Revenue from the company’s operations in India amounted to Rs 36,777 million (₤540.8 million) while those in Mexico came to Rs 8,934 million (₤131.5 million).
Titan International has proposed offering some $150 million in unsecured notes to buy back its 8 per cent senior unsecured notes due 2012 and for “general corporate purposes.” The tender offer was effective 13 May and will remain open until 10 June Titan said in a statement issued 13 May 2010.
Tyres may be conscripted into the effort to contain the oil leak in the Gulf of Mexico. BP chief operating officer Doug Suttles indicates that scrap tyres and golf balls could be inserted into the oil well’s faulty blowout preventer to stop the flow of some 5,000 barrels of oil into the water each day. "We have some pipe work on the blowout preventer, and if we can open certain valves on that we could inject basically just rubber and other type of material into [it] to plug it up, not much different to the way you might plug up a toilet," he said.
A run-down of Michelin’s North American operations has been made available through the release of the subsidiary’s ‘Fact Sheet 2010’. According to Michelin North America’s figures, its sales to North American customers amounted to US$7.0 billion in 2009, a hefty chunk of Michelin’s 14.8 billion euro global sales during the year. The operation employed 16,640 staff in North America, 3,550 in Canada and 710 in Mexico. During 2009 Michelin operated 18 major plants in 16 locations. Total unit tyre production or year-on-year change is not stated in the fact sheet.
Mikko Hirvonen won the Rally of Sweden stage of the World Rally Championship, after his nearest rival and 2009 champion Sebastien Loeb chose to hold onto his worn tyres at stage 14. Hirvonen changed the Pirelli tyres on his Ford and opened up a 6.2-second gap, finally ending the second day 16 seconds ahead of Loeb, whose change to new front tyres at the next stage saw his challenge effectively ended: “Having new tyres at the front and destroyed ones at the rear was worse than have four destroyed ones,” he said. The margin widened during the latter stages of the third day, allowing the Finn to claim victory for BPFord AbuDhabi WRT.
Watts Tyre Group, the UK-based industrial tyre and wheel producer has announced the creation of Watts America Latina, a new business unit to service the Latin American market (excluding Brazil and Mexico where the group has existing business operations). Watts America Latina is headquartered in Montevideo, Uruguay and is headed by director General Carlos Correia. The business services container customers across the region as well as sales from a warehouse operation from which pallet orders can be satisfied enhancing product availability.
Yokohama has announced two new OE fitment agreements for North American markets. The first of these is for the 2010 Toyota Prius, which will be delivered to US and Canadian customers fitted with Yokohama’s AVIDR S33D in size P195/65R15 89S. Last November Goodyear also announced its Assurance Fuel Max tyre will be fitted as OE to the third-generation Prius. Toyota’s 4Runner will also be Yokohama shod in US, Canada and Mexico, with models of the SUV in these markets supplied with the GeolandarR G96B in size P245/60R20 107H.
One is looking to wrap up another championship while the other is trying to end the season in the top three. That is what awaits Yokohama Tire Corporation-sponsored off-roaders Heidi and Cameron Steele as they head to Ensenada, Mexico, November 19-22, for the gruelling, season-ending race at the 42nd annual Tecate SCORE Baja 1000. Known as off-road's "power couple," the San Clemente, California-based Steeles have a lot riding on their Yokohama tires as they prepare for the legendary battle south of the border.
JK Tyre and Industries is aiming to substantially increase exports from Tornel, the Mexican company it acquired last year. According to the Press Trust of India the company aims to do this within a year through further expand within the Central and South American markets.
In a move that is perhaps a faint nod to his former career, California Governor Arnold Schwarzenegger has signed a bill permitting usage of a portion of the state’s scrap tyre recycling funds to “terminate” the presence of scrap tyres on the Mexico side of the California-Mexico border. The money will be used to reduce scrap tyre levels and encourage the establishment of recycling projects.
Production capacity is to be expanded at Cooper Tire & Rubber’s Texarkana, Arkansas facility. The company reports that, in response to growing market demand for its products, operations at the Texarkana passenger car and light commercial vehicle tyre plant will shift to a 24/7 operation as of January 1, 2010. Approximately 200 additional employees will be needed to support this increased production volume, which will be phased in over several months in 2010.
US based automotive component supplier Tenneco Inc. reports it will close its original equipment ride control plant in Cozad, Nebraska as the company continues to restructure its operations globally. The company expects to begin transferring current customer business to other ride control operations later this year, including Hartwell, Georgia, Paragould, Arkansas, and Celaya, Mexico. Tenneco expects to complete the closure in the fourth quarter 2010. Currently 460 hourly and 40 salaried workers are employed at the Cozad plant; Tenneco states that Impacted employees will receive transitional assistance.
Overcapacity in Michelin’s North American retreading operations led the company to close its truck tread pressing plant in Querétaro, Mexico on July 7. Production from the Michelin Retread Technologies (MRT) plant, which employs approximately 80 people, will be relocated to the company’s retreading facility in the United States. Michelin states that the decision to stop production of this particular product line has no impact on the continuing operations of its passenger car and light truck tyre plant in Querétaro.
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