Michelin Archives - Page 301 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.

Posts

Nigerian Standards Organisation Destroys Sub-standard Tyres

The Standard Organisation of Nigeria (SON) has recently destroyed large amounts of sub-standard goods in a move designed to emphasis the need to improve the quality of goods traded in Nigeria. The latest batch of goods to be destroyed included second-hand tyres imported and sold by Sanusi Gbenga Tyres Enterprises. According to a spokesman for SON the tyres which were branded Dunlop, Michelin, Continental and Kleber were full of flaws, cracks, blisters, and foreign materials. These, according to him, are unreliable and potential death-traps.

30th December 2002/by Tyrepress Editors

Michelin Tops UK OE J D Power Study

The 2002 J D Power UK original equipment tyre satisfaction study has named Michelin as top performer, for the fifth year running. The survey asks more than 2,500 UK motorists to rank their OE tyres in a number of categories; quality/durability, appearance, traction, ride/handling and effect on fuel economy. Michelin achieved top ratings in all sectors. Continental achieved its highest-ever ranking, coming second, scoring well on traction, ride/handling and fuel economy. Goodyear came third, with an index score at the industry average level.

30th December 2002/by Tyrepress Editors

Michelin To Buy Viborg

Michelin has signed an agreement to buy the Viborg distribution chain for the sum of 300 million Euros to add to its Euromaster chain. Viborg operates from 465 sales points in Germany, Denmark, Switzerland, Austria and The Netherlands and the acquisition will add around 570 million Euros to Michelin’s tyre distribution sales, pushing them over 2 billion Euros. Viborg employs 3,400 staff. The deal is subject to approval by the European Commission.

30th December 2002/by Tyrepress Editors

Analysts Rate Michelin

Ipsos has carried out a study of Michelin’s financial image, asking 251 European financial analysts and 517 French people owning securities. They rated the company under a number of headings and Michelin’s overall performance was generally very good. It scored particularly well in the sections “In financial terms, its forecasts always match its achievements” and “It is particularly capable of reacting to the economic situation”. 80 per cent of the analysts and 56 per cent of the private investors said that they were “confident about the share’s performance” over the next six months.

18th December 2002/by Tyrepress Editors

Martien de Louw New Board Member for Passenger Tires Continental

The Supervisory Board of Continental AG (Hanover) has appointed Martien de Louw (56) to the company’s Executive Board, with responsibility for the Passenger Tire division. Board chairman Manfred Wennemer (55) previously oversaw the division in addition to his other duties. De Louw will take up his new assignment on February 1, 2003.

16th December 2002/by Tyrepress Editors

Ford Rallying Switches To Michelin

Michelin has signed up with Ford to supply tyres for the car manufacturer’s World Rally Championship from 2003. The three-year deal was signed after Ford reached agreement with Pirelli to terminate the existing tyre contract one year early. Ford used Michelin tyres for two seasons following the debut of the Focus WRC in 1999. Said Malcolm Wilson, Team Director of Ford Rallye Sport: “We have enjoyed two successful years with Pirelli and thank them for their support.” He went on: “The World Rally Championship is Ford’s premier global motorsport activity and as such we have exciting plans for the future. We felt it was in the best interests of all parties to utilise this option now and enable us to renew our development links with Michelin.”

16th December 2002/by Tyrepress Editors

Large US Retread Contract For Michelin

In the United States, Michelin Retread Technologies has won a two-year contract to supply retreads and servicing to the vehicle fleet of utility company Alabama Power Co. The fleet includes around 1,900 passenger and light truck vehicles, 840 heavy trucks, 1,000 trailers and 30 off-road vehicles.

2nd December 2002/by Tyrepress Editors

Cord Deal At Michelin

The Hyosung Corp. has announced that it has won a $350 million order from Michelin to supply tyre cords and has also agreed to acquire a U.S. cord plant from Michelin for an unspecified amount. Hyosung, which is the world’s largest polyester tyre cord maker, said its U.S. unit, Hyosung America Inc, would acquire Michelin’s tyre cord plant in Virginia. The acquisition would enable Hyosung to “secure a production point to enter the North American market”.The South Korean company said in the statement it expected to increase its North American market share of tyre cords to 20 percent from the current 13 percent, while global market share would rise to 24 percent from 20 percent.

26th November 2002/by Tyrepress Editors

Analysts Downgrade Goodyear

In the United States, analysts UBS Warburg have downgraded Goodyear stocks from “Hold” to “Reduce” and the price target per share from $8 to $5.50. The analysts accept that the company’s sales performance overseas is improving, but Goodyear is struggling in the US and the analysts cite five reasons why it might be difficult to make further progress in this market.

6th November 2002/by Tyrepress Editors

Michelin Is Gaining Market Share And Improving Results

Related news: First Quarter Results Of Michelin Better Than Expected Shift of Michelin Production Towards Romania Continental Market Leader in Bulgaria Michelin India Launches Primacy LC

5th November 2002/by Tyrepress Editors

Michelin Is Leaving The Competition Behind

Related news: Michelin to Leave Formula One After 2006 Parker Hannifin Supplies Nitrogen to BMW Team Completely Different – Michelin MotoGP Tyre Michelin Enters FIM World Endurance Championship

5th November 2002/by Tyrepress Editors

Battle Of Cultures – A Farewell To François Michelin

Related news: Half Year Results For Michelin Confirm Disappointment Michelin Backs Greenfleet Drive Day at Silverstone Goodyear Adds Tyre Buyer Package in China Michelin Discontinues Bias-Ply Agricultural Tyres in North America

5th November 2002/by Tyrepress Editors

Michelin: Extra Lives Save Money

Related news: Analysts Downgrade Goodyear Michelin Shows Off eTire II Michelin Ranked Highest in Satisfaction Survey Wheely-Safe launches Michelin aftermarket TPMS solution

5th November 2002/by Tyrepress Editors

$20 Million Investment In Zimbabwe Bandag Plant

National Tyre Services Limited (Zimbabwe) has invested $20 million on the commissioning of a third curing chamber at its Harare Bandag factory. The investment comes at a time when other companies are closing shops or relocating to other countries. NTS Zimbabwe is an official re-distributor of Dunlop tyres and is now the largest customer in southern Africa for Bandag products.

5th November 2002/by Tyrepress Editors

Michelin Agrees to Purchase Up to 1,000 Design Licenses

Michelin has agreed to purchase up to 1,000 licenses of SolidWorks three-dimensional computer-aided design (3D CAD) software to design new tyre manufacturing machines. Michelin expects SolidWorks to reduce its tyre manufacturing machine design time significantly throughout its global operations. It will also use SolidWorks to convert existing 2D designs to 3D and effectively communicate designs with customers, suppliers, and different departments in the company.

5th November 2002/by Tyrepress Editors