Michelin Archives - Page 294 of 321 - 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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Raw Material Costs Hit Michelin’s 2003 Figures

Michelin has released its 2003 year-end figures. These show net sales of 15.4 billion euro (down 1.8 per cent on 2002), although sales volume (in tons) rose by 3.7 per cent. Operating income was down 6.7 per cent, to 1.143 billion euro and net income was down 47 per cent, to 329 million euro. The main impact on the figures came from sharply-increasing raw material costs, which rose by 21 per cent (in US$) during the year. Currency fluctuations and several one-off extraordinary items also had a negative effect on the figures. Michelin believes that, in the light of these exceptional cost increases, its 2003 figures show that the company is resilient, with increased investment and a strengthened global presence. The company claims a worldwide tyre market share of 19.2 per cent.

25th February 2004/by Tyrepress Editors

Michelin to import truck tyres to India

The Indian Government is to permit Michelin to import bus and truck radial tyres for wholesale trading on cash and carry basis until its joint venture with Apollo Tyres becomes operational. Michelin Apollo, 51 per cent owned by the French firm and 49 per cent by Apollo Tyres, will take about 20 months to begin production.

20th February 2004/by Tyrepress Editors

Conti plans tyre production in China

That Continental wants to manufacture tyres in China, has already been decided. The questions now are “Where” and “How”, so Continental executive committee Hans-Joachim Nikolin told the “Hannoversche Allgemeine Zeitung” (HAZ).

19th February 2004/by Tyrepress Editors

New Michelin winter tyres in North America

Michelin dealers in the USA have been introduced to the new winter tyre range from Michelin. Michelin(R) X-Ice(TM) and Michelin(R) Latitude(TM) X-Ice(TM) winter tyres to help them overcome ice- and snow-covered roads. Michelin’s newest winter products are designed to improve braking, traction and handling for passenger cars and vans, light trucks and sport utility vehicles (SUV) in snowy and icy conditions. Authorised Michelin dealers in the United States will begin taking deliveries in July of the Michelin X-Ice in 39 sizes for passenger cars and the Michelin Latitude X-Ice in ten additional sizes for light trucks and SUVs.

13th February 2004/by Tyrepress Editors

Michelin recalls 10,000 truck tyres in Australia

Through its quality monitoring process, Michelin has come to the conclusion that a limited number of tyres within this production range may present, under Australian conditions of use, a risk of reduced robustness in the crown area, which may lead to a rapid loss of air pressure. As a consequence of this the company is recalling 10,000 tyres manufactured at Michelin’s truck tyre factory in Thailand between January 2003 and September 2003. The designated tyre is the Michelin brand 295/80 R22.5 XZE2+ TL 152/148M.

13th February 2004/by Tyrepress Editors

Michelin investment in Apollo Tyres cleared

India has approved a proposal by Europe’s biggest tyre maker, Michelin, to pick up a 14.9 per cent stake in tyre-maker Apollo Tyres Ltd for 71.44 million Dollars. A government statement said the investment by Michelin would be used to manufacture, market and distribute truck and bus radial tyres in India. Truck and bus tyres account for more than 70 per cent of India’s 2.2-billion dollar tyre industry but less than two per cent of tyres are radials. But radials make up more than 75 percent of car tyre sales. Indian transporters have shied away from radial tyres, seeing them as not rugged enough for the appalling roads and rampant overloading in India. However, radial sales are expected to increase because of improved highway conditions.

13th February 2004/by Tyrepress Editors

Michelin net sales up, but down

Michelin’s full-year 2003 net sales reached 15.4 billion Euro with sales volumes up 3.7 per cent. At constant scope and exchange rates, 2003 net sales are up 5 per cent. However, given the continued appreciation of the Euro, especially versus the US dollar, and further to the consolidation of Viborg in Group accounts in the 4Th quarter , net sales are down 1.8 per cent. Operating conditions (tire markets, exchange rates, raw materials …) were globally in line with Group expectations as indicated upon publication of 3 rd quarter net sales on October, 22. The main factors impacting financial year 2003 net sales were a 3.3 per cent increase in sales volume. A positive price / mix effect of +1.6 per cent at constant exchange rates. Impacted by a minus 8.3 per cent effect of the dollar/euro exchange rate.

13th February 2004/by Tyrepress Editors

Michelin XeoBib Wins Golden Ear at the Agribex Fair

The Agribex 2004 panel has awarded a Golden Ear to Michelin for XeoBib, a new tire concept that optimizes driving in fields and on the road, thanks to the ability to roll at constant pressure. The Golden Ear is awarded for innovations, with emphasis on practicability as well as engineering excellence.

11th February 2004/by Tyrepress Editors

UK Agricultural Tyre market: a steady decline but still good business

The Agricultural tyre sector in the UK has had a tough year. It began with the aftermath of Foot and Mouth. There was an extremely wet start to the year. Then a prolonged dry period – the driest – if not the hottest – in 25 years.

Wet weather usually means more sales for the agricultural sector, but too much rain just stops the market in its tracks – no pun intended. That was the case early in the year. When the weather turned dry the public lapped up the sunshine and the long dry spell, but farmers anticipating the traditional UK summer were faced with their own dry weather difficulties.

However, tyres and traction were not amongst their troubles. Dry fields do not create traction problems and the agriculture sector stretched the mileage of existing tyres well beyond their expected lifespan. The result has been a drop in the overall market of something around 10 per cent.

The wider agricultural market is dominated by Michelin, Goodyear, Continental and Bridgestone in the UK – with the big players accounting for around 60 per cent of the market. Although just how big the market is no-one can say. That 60 per cent represents almost two thirds of the premium brand tyre market. It does not include the figures of the budget brand sector. As with the car and truck sectors there is no hard evidence to confirm the sales figures at the bottom end of the market. Asking tyre companies about market share results in a sum that is greater than the whole. But general consensus places Michelin group at the head of the market, followed by Goodyear Dunlop, then Continental and Bridgestone followed by Trelleborg/Pirelli and Vredestein.

In order to sell tyres it is, in every sector, important to know who, or what, the customer is and what is being sought. It might be a fair assumption to say that the farmer expects tyres to do the job they are asked to do. That, in itself, is open to interpretation. The contractor may be keeping an eye on the slip meter in the cab and be watching for the point of diminishing returns from a set of tyres; changing them at the point when they become inefficient for his purposes. Another farmer using the same tyres may take a different approach, saying that so long as they hold air they will stay on the tractor. Somewhere in-between there are those who only change tyres when they are damaged beyond repair – they may change the tractor at the same time as the tyres. In marketing tyres to the top end of the agricultural sector though, there must be an assumption made that the people prepared to pay the premium price for a leading brand tyre must have some concept of tyre management and an eye on productivity and efficiency.

28th January 2004/by Tyrepress Editors

Michelin and Volvo Sign a European Truck Tire Supply Agreement

Michelin signed a three-year agreement to supply Volvo Group with truck tires as original equipment on Renault and Volvo trucks assembled in Europe. The agreement confirms Michelin’s position as a major supplier of tires to the Volvo Group in Europe. The deal comes at a time when global radial truck tire production capacity is saturated, even as demand is expected to experience growth in the future. It is in line with Michelin’s commitment to balancing its operations in the original and replacement equipment markets in order to deliver optimal service quality across all markets, while maintaining its profitability.

27th January 2004/by Tyrepress Editors

EnTire Solutions makes progress

EnTire Solutions, LLC, the 50/50 joint venture of Michelin and TRW Automotive, has announced contracts with Honda and Fiat for its direct tyre pressure monitoring systems (TPMS). EnTire Solutions, LLC is now supplying tyre pressure monitoring systems (TPMS) for the 2004 Acura MDX luxury sport utility vehicle, and has also been selected by Fiat to provide advanced TPMS for a range of its upcoming European models. Chief Executive Officer of EnTire Solutions, LLC, Rich Wolfe, said, “It’s a boost for us to be announcing these contract wins so close to the launch of EnTire Solutions, LLC, and it reflects the extremely positive response we’ve had so far. With Michelin’s expertise in tyre systems and TRW’s electronics and integration capabilities, EnTire Solutions is built on a solid technical and operating base.”

13th January 2004/by Tyrepress Editors

Honda and Nissan want the PAX system for the American market

The Japanese car makers Honda and Nissan have decided to bring new models onto the American market that are to be equipped with Michelin’s PAX system, writes Modern Tire Dealer referring to an announcement made earlier this week at the Detroit Auto Show. The French tyre manufacturer hopes to achieve a bigger share on the market. The PAX system itself will be produced in the United States.

12th January 2004/by Tyrepress Editors

Michelin and Pirelli to enter OE contracts

At the Detroit Auto Show the Michelin and Pirelli have both announced new OE contracts with Ford. Michelin will deliver the BFGoodrich g-Force T/A KDW (18 inch) and BFGoodrich all-season Traction T/A (16 inch) to equip Ford’s Mustang GT. Pirelli Tire North America will also deliver tyres for the new Mustang GT, namely the P Zero Nero. For the new Mercury Montego, the Ford Focus ST, and the Ford Freestyle Pirelli will deliver its P6 Four Season tyre into Ford’s OE.

12th January 2004/by Tyrepress Editors

Michelin NA to eliminate communications position

Michelin North America Inc. has downsized its communications department since January 1, 2004. The decision was taken under the Call to Action initiative, says the company. “This decision was taken only after serious consideration and conclusion that the functions of the position should be redistributed among the rest of the team to optimise efficiency and effectiveness.” In line with the change, Kondria Woods, manager for communications operations and measurement, departed Michelin North America as of December 31.

12th January 2004/by Tyrepress Editors

Kumho’s latest tyre plant with automated production

Kumho Tires Ltd. has completed construction of a tyre plant equipped with an automated production unit in Pyeongtaek, south of Seoul. The company is the first Korean tyre maker to have the automated system that so far is used by only the five top tyre companies around the world – Michelin, Bridgestone, Goodyear, Continental and Pirelli. Kumho said the automated production unit combines nine stages of tyre production, cutting the length of the production line from 1.2 kilometers to 800 metres. About 100 billion won (84 million US dollars) was spent on the construction over the past two years and four months. The new factory can produce 6,000 tyres per day, with annual production capacity expected at 2 million. The company’s total annual production now is 36.6 million tyres.

12th January 2004/by Tyrepress Editors