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.
Michelin is keen to enter the OEM (original equipment manufacturer) segment of the Indian passenger car and truck markets, according to the Indian press. This was made clear in an article with The Hindu recently, in which Herve Dub, Chief Executive Officer, Michelin India Tyres Private Ltd. said, “We are in discussions with some OEMs. There will be some good news on this front in 12 months,” he added.
According to a report in the Shanghai Daily, the Bridgestone Corporation is looking towards the booming Chinese auto market to help maintain a 30 per cent growth in sales in China this year. “Chinese sales were up more than 30 per cent in 2005, and we expect the same increase this year,” said Hiromichi Odagiri, chief executive for Bridgestone China. “We have run quite well in the first half.”
The price of natural rubber has fallen by 11 per cent from the peak reached a month ago, say analysts at the Deutsche Bank. However, at US$ 2.5/kg, natural rubber is still up 40 per cent year to date and 50 per cent more expensive than synthetic rubber.
Michelin has been awarded 3rd Prize in an annual survey of shareholder services of the companies comprising the CAC 40 index. The 2006 survey carried out by “Journal des Finances” gave Total and Société Générale 1st and 2nd prize respectively. This third annual survey found that 67.5 per cent of the forty companies in the CAC 40, provide a quality, shareholder-driven service.
BF Goodrich has confirmed its commitment to the FIA World Rally Championship in 2007, despite looking set to be the sole tyre supplier, following Pirelli’s decision to quit the series at the end of this season. BF Goodrich currently supplies all but one of the manufacturer-backed teams, namely the Subaru World Rally team, however, next season all the teams look set to use their tyres.
(Akron/Tire Review – Reuters) Goodyear Tire & Rubber has made considerable progress on a North America turnaround, but looming pension liabilities, tough labour talks and high material costs are raising credit investors’ worries that further progress could be slow. Ignoring Goodyear’s strong rise in first-quarter earnings on 4 May, credit investors have sold off the company’s bonds, pushing prices lower over the past two months. Goodyear’s 7.86 per cent notes due in 2011 have fallen to 91.7 cents on the dollar from a high this year of 99.5 cents on 9 May, according to MarketAxess.
(Akron/Tire Review) Michelin brand passenger and light truck/SUV tyres are now being produced in Mexico for the very first time. Michelin North America upgraded its production facilities at its plant in Queretaro to allow Michelin-brand tyre production.
Michelin North America (MNA) says it will indefinitely layoff some 390 to 520 union workers at its 43-year-old Opelika, Alabama, tyre plant. The layoffs, said the company, are the result of a 30 per cent to 40 per cent production cutback at the plant which came about in response to the tough environment faced in the North American mass market segment.
Viking International has launched a summer tyre clearance across a wide range of stock. Thousands of sizes have been reduced to clear on premium brands such as Pirelli, Michelin, Continental and Bridgestone as well as selected lines in the company’s private brand range including Viking, Gislaved and Barum. According to the company the sale provides dealers “with an even greater profit opportunity.”
Bridgestone has been named as the sole tyre supplier for the Formula One world championship starting in 2008. In a widely anticipated move, the World Motor Sport Council named the Japanese manufacturer as control tyre supplier at a meeting on 5 July. Bridgestone was also designated the sole tyre supplier for the sport in 2007 due to the withdrawal of Michelin at the end of the current season. Michelin has consistently refused to supply a single-supplier F1, saying it would be counter-productive.
Martin Sedlacek, managing director of Czech Republic tyre and wheel wholesaling company, Mands International s.r.o., began his career in the tyre industry in 1984 on the shop floor at Barum. Over the next years, with grim determination and a burning ambition to succeed, he improved his position and eventually entered into research and development. After the post communism elections Sedlacek was appointed assistant production manager and sent to study in the USA. Upon his return he was the assigned the role of commercial director with responsibility for all tyres sales in domestic, as well as traditional and new global export markets. In 1996 Sedlacek left Barum to form his own company, Mands International, but not before he had negotiated an arrangement with Barum whereby he could buy tyres from them to sell to new customers in Eastern Europe.
Michelin has reported that it has begun raising prices for its truck and construction equipment tyres in Europe to help compensate for higher commodity costs, particularly natural rubber. The price increases, which average 3 per cent to 5 per cent, began in mid- June, said Anne-Sophie Creton, a spokeswoman quoted in the International Herald Tribune.
The United Steelworkers (USW) have announced that BFGoodrich/Michelin has been selected as the “target company” for 2006 master contract negotiations in the US rubber and tyre industry. Representatives from USW bargaining committees engaged in contract talks with Bridgestone/Firestone (BFS), Goodyear and BFGoodrich/Michelin voted in Cincinnati, Ohio.
Michelin Energy tyres last longer and therefore cost less per mile, according to the French manufacturer. However independent French magazine Auto-Plus has now published comparison test results which Michelin says prove its assertions. The test results show that the Michelin Energy E3A tyres offered 20 per cent more life than the next best brand and 60 per cent more life than the most expensive tyre.
If ever there was a competition for a company whose name tells you exactly what the company does, then Vintage Tyre Supplies would surely be in with a shout. Even the location of its head office – a few seconds' stroll from the Beaulieu Motor Museum – underlines what the company is about.
Vintage Tyre Supplies is, quite simply, a leader in what could be described as "a global niche", sourcing and selling vintage and classic tyres around the world. "Our business is growing and our overseas markets are developing steadily," says VTS managing director Chris Marchant.
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