Michelin Archives - Page 233 of 323 - Tyrepress

Tyre industry pioneers, Michelin has a long history. Having begun in 1889, Michelin is now the second-largest tyre manufacturer in the world after Bridgestone and larger than both Goodyear and Contineantal.

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Mining Director Predicts OTR Tyre Shortage Over in 2008

According to global diamond mining giant De Beers, the shortage of large OTR tyres that has plagued mining operators in recent years will be over by the end of 2008. The South African publication Mining Weekly has reported De Beers director Debbie Farnaby as saying the success of Chinese manufacturers in the area of radial OTR tyre production will end the shortage sooner than previously anticipated.

China’s traditional output of cross-ply tyres was deemed unsuitable by many mine operators, and numerous estimates of the tyre shortage’s duration were based upon the assumption that this type of OTR tyre would be the mainstay of Chinese production for some time. “But they’re making radials as well, and we’re testing some at Venetia (De Beers’ largest diamond mine in South Africa) at the moment,” Farnaby said.

2nd November 2007/by Tyrepress Editors

Taking Soil Compaction Out of the Equation

Those of use who didn’t grow up in agricultural families may be unaware of just how important soil quality is to arable farming. And as the size of farms grows and the agricultural industry becomes an increasingly professional business, so the use of modern machinery is also increasing. That’s why Michelin invited journalists to a farm in Leicestershire to learn about how products like its Axiobib tractor tyre prevent the problems that are associated with soil compaction.

We’ve all driven past fields with water-logged tyre tracks running across them. But did you know this can be a sign that poor tyre choice has led to lower levels of soil being compacted, which in turn hinders drainage and reduces crop yield? Neither did we, so it was a good job Michelin had invited the Soil Management Initiative’s (SMI) resident soil expert, Dr Alistair Leake, along to explain the science behind the theory. (The SMI is a non-profit making, independent organisation dedicated to promoting the adoption of systems designed to protect and enhance soil quality, resulting in agronomic and economic benefits for farmers. The Environment Agency, John Deere and Michelin are just three of the 22 SMI members.)

1st November 2007/by Tyrepress Editors

BFGoodrich Proves its Rallying Mettle in 2007

US tyremaker BFGoodrich claims a long motorsport heritage, entering the motor racing history books in 1915 when it became the first tyre manufacturer to enjoy victory two years in a row at the ‘Brickyard’, home of the Indy 500 race. More recent accomplishments in a variety of championships have cemented the brand’s sporting credentials, and today BFGoodrich retains a reputation as being a tyre of choice for those seeking both a sports-oriented image and performance.

During 2007 the Michelin owned tyremaker was active at the highest levels in four key areas of motorsport: The World Rally Championship, the Irish Tarmac Rally Championship, Intercontinental Rally Championship and Rally Raid events, including the famous Dakar Rally.

1st November 2007/by Tyrepress Editors

Michelin Canada Cleared of Pension Fund Wrongdoing

A Supreme Court in the Canadian province of Nova Scotia has ruled in favour of Michelin in a dispute between the tyremaker and a number of retired employees over CA$268 million (£136 million) the retirees believe to be owed to their pension plan. Between 1984 and 1988 and then between 1995 and 2001 Michelin North America (Canada) covered its required annual contribution to the fund using a surplus in the plan. The former employees wanted Michelin to place that money back in the fund, and instigated legal proceedings to force the company to do so.

31st October 2007/by Tyrepress Editors

Challenge Bibendum Returns to Shanghai in November

The 9th annual Challenge Bibendum is only two weeks away, and this year sees the event returning to Shanghai, host city to Challenge Bibendum 2004. The Challenge Bibendum, created by Michelin in 1998, is a concerted effort on the part of vehicle manufacturers, technical partners, energy suppliers and research institutes to provide political and economic decisions makers with insights and understanding into the latest advances in vehicle technology for creating cleaner and more fuel efficient transport options.

31st October 2007/by Tyrepress Editors

Michelin Makes Energy Saving Big News

Michelin wants the world to know that its energy saving tyres reduce fuel consumption and CO2 emissions – and on October 30 the French tyre major launched a novel new method of getting its message across. Every evening at 7pm the company will project “Green” meters onto prominent landmarks in four major world cities. These meters will display the estimated fuel savings and reductions in CO2 emissions achieved since 1992, the year Michelin first released low rolling resistance tyres with silica used in part as a substitute for carbon black.

Featuring Bibendum, the iconic Michelin Man, the meters will be projected onto the façade of the Park Inn Hotel in Berlin, the NASDAQ and Reuters boards in New York’s Times Square, the Port de Suffren at the foot of the Eiffel Tower, and on the City Group Mansion tower, across from the Bund, in Shanghai – four cities, says Michelin, whose growth has been driven by the mobility of the goods and people who come and go every day.

31st October 2007/by Tyrepress Editors

Making the Right Impression

All ten of the world’s top ten tyre manufacturers were present in China in some shape or form by 2005, and each of these global giants has its own big plans for this market. Michelin intends to increase its car and light commercial tyre market share to 4 per cent of its worldwide sales by 2010 and to double this share again within another decade, and Bridgestone’s mid-term target in China is to grab a 20 per cent market share in 2008.

So the obvious question for local tyre manufacturers in China is what place do they have in this huge and growing market? The OE market is dominated by the international brands that have a long history of cooperation with global vehicle manufacturers, making it a market that local tyremakers have difficulty penetrating. This leaves the aftermarket as the main avenue for pursuing sales, and this sector poses its own set of problems for Chinese manufacturers.

30th October 2007/by Tyrepress Editors

Michelin Q1-3 Sales up 4%

Michelin has announced that its consolidated net sales for the first nine months of 2007 have risen 4.0 per cent to almost 12.6 billion euros, an increase of 7.2 per cent (at constant exchange rates). Third quarter sales were slightly under 4.2 billion euros, a 2.5 per cent increase at constant exchange rates that Deutsche Bank analysts report is “in line” with its estimate of 4.3 billion euros. The German bank’s Equity Research division further commented that the key positive factors driving earnings in the third quarter, a period it has described as “uneventful”, were Michelin’s price/mix, up 3.7 per cent or 153 million euros, and volume, which showed a 1.4 per cent or 59 million euro rise.

Over this same quarterly period the company’s sales volumes posted a year-on-year growth of almost 3.0 per cent. During the first six months of the year this increase was at a rate of 3.6 per cent, but during the third quarter growth slowed to 1.4 per cent; Michelin’s replacement passenger and light truck tyre business was impacted by what the company has called “less supportive European and North American markets” during the quarter, while in the US Michelin’s sales of truck tyres dropped by 39.2 per cent as a result of a sharp decline in truck OEM activity.

30th October 2007/by Tyrepress Editors

Dwory Supplying Polish Rubber to Michelin

On 5 October 2007 Dwory S.A. signed a licence agreement with Michelin for poly-butadiene rubber production technology. At the same time the two companies signed a trade contract supplying the rubber to Michelin for a minimum period of 7 years from the start of production. The value of the trade contract is estimated to be over £200 million.

Under the agreement some of Dwory’s production is going to be supplied directly to Michelin plants. The rest is to be sold by Dwory on the market under its own brand. The completion of the project is also expected to result in better utilization of the company’s general infrastructure and lead to further reductions in fixed costs.

29th October 2007/by Tyrepress Editors

Michelin Receives Best Annual Report Prize

On October 18, Michelin received the Best Annual Report 2006 Prize in the CAC 40 category during the 53rd Financial Communication Venue organised by two of France’s foremost financial newspapers: ‘la Vie Financière’ and ‘Les Echos’. The prize is given to CAC 40 companies – the forty largest Paris Bourse listed stocks in terms of market capitalisation on the stock exchange – whose annual reports contain the clearest and most transparent information on the company’s economic situation and future prospects.

To quote Mr. Carlos Ghosn, who chaired the panel responsible for selecting award recipients, the four principal qualities of Michelin’s report were “the quality of the group’s business and environment review; the usefulness of background information based on multiple and documented forecasts; the shareholder focus through a Shareholder booklet which in itself is a benchmark document and the clear and lively layout (and the latter two qualities are known to be difficult to achieve in the particular field of financial communication).”

26th October 2007/by Tyrepress Editors

Tyrexpo Asia: Wholesalers Keep a Strong Presence

It appears that Tyrexpo Asia – like other leading international tyre shows – represents a must-do for wholesalers from Europe. At a minimum members of these companies’ top management come to Tyrexpo Asia as visitors, but many companies each year book floor space in the Singapore Expo Centre for Tyrexpo Asia. Counted amongst the latter is the commercial tyre specialist Heuver Banden from the Netherlands, which displayed its products together with the manufacturer of the new “Maitech“ OTR tyre brand. The distribution rights of this brand have been granted to Heuver Banden for major parts of Europe by Uzmai International from Verona, Italy – however, the tyres are produced in Turkey, as Oskar Snijders, director wholesale with the Dutch distributor, explained.

26th October 2007/by Tyrepress Editors

MotoGP to Remain a Multi Tyre Series

The spectre of a single tyre rule that has lingered over MotoGP since late September has evaporated. On October 24 series organiser Dorna Sports withdrew the single tyre championship proposal from the Grand Prix Commission.

Originally suggested by Dorna’s Carmelo Ezpeleta at the Japanese Grand Prix on September 22, the proposal was not well received by many riders, including high profile current champion Casey Stoner, who believed such a plan would change the entire nature of the series. The idea also apparently failed to capture the enthusiasm of both Bridgestone and Michelin.

24th October 2007/by Tyrepress Editors

Michelin to Sponsor Inaugural Road Safety Expo

Michelin has extended its comprehensive road safety programmes to include sponsorship of the first ever UK Road Safety Expo, which takes place in London on 22 November. Road Safety Expo ’07 is a new event combining a conference and exhibition designed to highlight the latest developments in technology and the future strategy for road safety educational campaigns.

Jim Fitzpatrick, MP, the Parliamentary Under Secretary with responsibility for road safety will deliver the keynote speech and other speakers will represent all major road safety campaigns, including Think! and Roadsafe.

23rd October 2007/by Tyrepress Editors

Michelin to Appeal US Court Ruling

Michelin North America intends to appeal the decision of a circuit court in the state of Louisiana. A jury awarded 54 year old Drusilla Boudreaux US$32.4 million after deciding Michelin was responsible for a 2002 accident in which she was paralysed. Ms Boudreaux was a passenger in a vehicle that skidded on a wet road, crashed and caught fire. The owner of the vehicle had recently purchased two new BFGoodrich tyres, which were installed on the car’s front axle.

The jury placed responsibility for Ms Boudreaux’s injuries upon the tyremaker as they determined that it had not adequately informed all tyre retailers about the increased danger of aquaplaning should new tyres be fitted to the front axle of a vehicle rather than the rear. The plaintiff’s legal representatives attest that Michelin was aware that fitting new tyres to the front axle increased the risk, but the tyremaker only informed the large US chain Costco of the potential danger. Costco was sent a safety video and policy document. Attorney Carey Wicker told the court “when Costco enforced the policy, they lost two per cent of their sales or about $10 million per year based on sales of 500 million tyres per year.” Wicker further argued that “because of the customer backlash Michelin did not do the video or policy document with anybody else.”

22nd October 2007/by Tyrepress Editors

MotoGP Tyre Decision Delayed

The ongoing discussion about MotoGP’s 2008 tyre regulations look set to continue, following the delay in a final decision on a control tyre for next season. A decision is now expected to be formulated by Tuesday 24 October. Following intense discussions, an official announcement by the Grand Prix Commission, which comprises representatives of FIM, MSMA, IRTA and Dorna, is expected by Friday 26 October.

“Since Motegi there have been many developments and positive developments, but they are not finished yet. The feeling is good because we think some small changes need to be made and they will be confirmed by Wednesday,” said Dorna Sports CEO Carmelo Ezpeleta, perhaps hinting that a large charge such as to a single supplier may be ruled out.

22nd October 2007/by Tyrepress Editors