Michelin Archives - Page 281 of 324 - 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.

Tag Archive for: Michelin

For US Retreaders, Technology and Service are Differentiators in Tough Market

(Akron/Tire Review) Wherever the market for new truck tyres decides it is headed, the retreading industry is hot on its heels.

Of course, that job is a bit easier for Bridgestone/Firestone, Goodyear and Michelin, because they are involved in both. But even their allocation of time and money must be measured carefully. For companies like Bandag Inc. and Oliver Rubber Co. – despite its connection with Cooper Tire & Rubber Co. – the task is a bit more daunting. But they, too, are highly skilled at knowing what to do and when.

5th May 2005/by Tyrepress Editors

Economic Growth in Europe Hampered by Oil Prices, Report Says

(Akron/Tire Review – courtesy of China Daily) Manufacturing in the dozen countries sharing the euro declined for the first time in almost two years in April, adding to signs that record oil prices are dampening economic growth.

An index based on a survey of about 3,000 purchasing managers compiled by NTC Research Ltd. for Reuters Group Plc fell to 49.2 from 50.4 in March, according to figures available on the Internet yesterday. Economists forecast a decline to 49.8, the median of 35 forecasts in a Bloomberg survey showed. The index hadn’t dropped below 50 since August 2003, something that is indicative of contraction.

5th May 2005/by Tyrepress Editors

Four More Companies Announce Price Increases

(Akron/Tire Review) Four more tyre companies jumped on the price hike bandwagon yesterday, following up on increases announced recently by Bridgestone/Firestone North American Tire, Michelin North America, Pirelli Tire North America and Continental Tire North America.

4th May 2005/by Tyrepress Editors

Former Michelin Man Returns to Renault

Carlos Ghosn, former chief operating officer of Michelin North America, has been appointed as chief executive of Renault. The well-known executive, also known as “the cost killer,” is a celebrity in Japan due to the radical turnaround he led at Nissan.

29th April 2005/by Tyrepress Editors

Airbus A380 Takes Off on Michelin Tyres

When the new Airbus A380 finally took off yesterday it caused quite stir, with media reports beaming the event all over the world. But what you might not have noticed when the world’s largest passenger aircraft made its maiden voyage yesterday it did so on Michelin tyres. The new aeroplane uses 22 wheels and, of course, all of those will require tyres from either Michelin or alternative tyre supplier, Bridgestone. The wheels and brakes were developed by Honeywell and Dunlop Aerospace in a cooperation that saw Honeywell take the lead.

According to Michelin, each the tyres is designed to operate at a lift-off speed of 378 km/h carrying 33 tonnes. The new tyre’s special lightweight construction reduces the A380’s total weight by 360 kilograms, compared with conventional tyres.

28th April 2005/by Tyrepress Editors

Kwik-Fit For Sale

Following its acquisition by British private equity firm, CVC Capital Partners, Kwik-Fit has put itself up for sale in a move that could raise as much as £800 million. CVC is reported to have sent information on the company to “a string of prospective buyers.” Although the names of the these companies have not been officially released, Reuters speculated that the list would include all the leading buyout firms including Cinven, Kohlberg Kravis Roberts, BC Partners, Permira and J P Morgan Partners. The sale is expected to be completed by the end of the summer.

28th April 2005/by Tyrepress Editors

Michelin Sales ‘Stabilise’

Michelin has released fist quarter results that show the company’s net sales have “stabilised” in value terms. The weakening dollar is said to have contributed to the 0.2 per cent drop in sales to 3.61 billion euros against the same period last year.

27th April 2005/by Tyrepress Editors

“Bridgestone are Back”

The Renault of Fernando Alonso took first place at Sunday’s San Marino Grand Prix, on a completely new design of Michelin Formula 1 tyre. Following the result, second place Michael Schumacher is reported to have pronounced that “Bridgestone are back.” “They have suffered a lot of (bad) publicity lately,” the Ferrari driver added. Now, following a successful race at Imola, the tyre supplier is confident that the team it supplies can push for the championship once again. “I think we can say that the Bridgestone was the better tyre today,” said technical manager Hisao Suganuma.

Although Michael Schumacher’s car was lapping two seconds faster than any other car at one point, in terms of points Michelin supplied drivers dominated. Following Fernando Alonso’s win, and Michael Schumacher’s second place BAR Honda’s Jenson Button, filled the remaining podium space. After that all other point scoring positions were filled by Michelin drivers. “It’s clear that (Bridgestone) have upped their game,” said Michelin’s Pierre Dupasquier.

25th April 2005/by Tyrepress Editors

Cicero Appointed New Denman Tire CEO

(Akron/Tire Review) Emanuele E (Manny) Cicero has been named president and CEO of Denman Tire Corp., effective 1 May, Denman Tire has announced. Cicero replaces Charles R.Wright, who is retiring.

22nd April 2005/by Tyrepress Editors

Michelin to Raise Prices on Passenger, LT Tires in July

(Akron/Tire Review) Michelin North America (MNA) has announced price increases affecting passenger and light truck tyres. OE and replacement tyre prices for Michelin, BFGoodrich, Uniroyal and private and associate brands sold in Canada, Mexico and the US will increase by up to 8 per cent, the tyre maker said. The increases are effective in July and result from “continuing increases in raw material costs,” according to MNA.

21st April 2005/by Tyrepress Editors

Michelin to Restructure in Future

Michelin is likely to embark on a major restructuring programme in the coming years. The news follows a meeting between Deutsche Bank analysts and Michelin. The fact that 24,000 people will be retired in the next five years (17,000 in Western Europe or 31 per cent of the workforce and 7,000 in North America or 33 per cent of the workforce) is said to allow for higher productivity gains and transfer of production to low cost countries.

19th April 2005/by Tyrepress Editors

Analysts Predict Flat First Half OP for Michelin

Analysts have predicted that Michelin’s first half operating profit could match last year. They added that a three or four per cent fall in volume should be offset by the effects of a strong price/mix effect of plus four or five per cent. The Deutsche Bank report states that the analysts expect first half operating profits to be 50 million euros higher than the consensus of 700 million or 9.3 per cent of margin. This translates into an earnings per share estimate of 5.5 euros for 2005 earnings and 6.5 euros for 2006 earnings, against a consensus of five and six euros respectively.

19th April 2005/by Tyrepress Editors

New Michelin Supermoto Tyres

Michelin has expanded its range of supermoto tyres with the introduction of four new tyres: a soft front, a medium/hard rear, and front and rear wets. These are in addition to the existing medium/soft front and medium rear.

18th April 2005/by Tyrepress Editors

Coker to Offer Michelin Lifestyle Products

(Akron/Tire Review) Michelin Lifestyle Ltd. has signed a licensing deal with Coker Tire Co. for the development and marketing of Michelin-branded products, including garage accessories, apparel, personal accessories, high-end memorabilia and collectibles.

According to Michelin Lifestyle, Coker will offer these products through Coker Tire’s North American catalogue operations and online store at www.coker.com.

14th April 2005/by Tyrepress Editors

Investcorp Acquire American Tire

Investcorp, investment group, has officially acquired American Tire Distributors, one of the leading distributors of tyres in the United States.

American Tire has 71 distribution centers and a fleet of 700 trucks providing coverage to 36 US states. It offers 60,000 products serving an average of 35,000 customers each month says the investment company. Annual revenue is $1.4 billion giving the company an approximate six per cent share of the total $24.3 billion market for replacement tyres in the US.

13th April 2005/by Tyrepress Editors