New Jobs At Michelin
Michelin has announced that it will take on more than 1,000 new staff in France in the coming year. These new positions come in addition to the 1,000 new posts planned after the introduction of the 35 hour working week.
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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Michelin PAX System Provided As A Standard Feature On The Renault Scénic
Product NewsMichelin PAX System became a standard feature on the top-of-the-range versions of the Renault Scénic (Fairway and Sport Way). According to the vehicle manufacturer’s forecasts, these two models could represent 40 % of Scénic sales in France, or around 35,000 vehicles per year in the first year. PAX System remains available as an option in the rest of Europe.
Stapleton’s Acquires WSTyremasters
Product NewsThe news is now official; Letchworth-based Stapleton’s Tyre Services has completed the acquisition of WSTyremasters (WST), one of its largest competitors. This makes Stapleton’s by far the largest UK car tyre wholesaler. Neither side would reveal any financial details of the transaction. The agreement, reached between Stapleton’s and ATS Ltd, WST’s parent company, covers all of WST’s trading interests. It has also been fully supported and endorsed by Michelin, which owns ATS. The deal includes six WST distribution centres in Bristol, Watford, Dereham, Burton, Manchester and Glasgow, 115 members of staff and the exclusive UK distribution rights to the Ambassador budget tyre brand. The agreement has been rumoured for some time, but was only formally concluded on Tuesday. “This is a highly significant strategic acquisition for Stapleton’s which gives a very clear demonstration of our ambitious expansion and development plans for the UK,” said managing director Ashley Croft.
Different Opinions From Analysts Regarding Goodyear Shares
Product NewsFollowing a conference given by Goodyear boss Sam Gibara in New York, there was a difference of opinion among analysts. While Deutsche Bank recommended Goodyear shares now as a buy – the bank also recommends Michelin, Continental and Cooper as buys because it foresees improvements for the whole industry. On the one hand there have been price increases to the dealers while, on the other hand oil prices were 15% cheaper than last year. Analysts from UBS Warburg however see Goodyear shares as a “hold”. The turnaround plans presented by Goodyear are clear and the analysts believe that these can be achieved. On the other hand they refer to the fact that the Goodyear management has made many promises in the past that they could not fulfil. Therefore from their point of view the message is ‘wait and see’. They say that the fair price for Goodyear shares at the moment is 25 US-$; at the stock exchange the shares are worth 24.50 US-$.
Sales Increase For Michelin
Product NewsMichelin Group net sales have shown a 2.5 per cent increase for 2001 to 15.77 billion Euro, a slower rate of growth than for the previous five years. However volumes sold have fallen by almost 3 per cent with all markets on a downward trend except passenger car and light truck. Michelin estimate that the operating margin for the year 2001 will lie between 6.2 and 6.8 per cent of net sales.
Another Setback For Reifen 2002 As Bridgestone/Firestone Cancels
Product NewsThe tyre fair “Reifen 2002” in Essen has suffered another serious blow. Following Michelin’s pull-out, Bridgestone/Firestone has also cancelled its participation. Other tyre makers told our magazine unofficially that the large number of house exhibitions is placing too great a burden on budgets.
Michelin Truck Tires Are “The Best” According to Annual Driver Poll
Product NewsMichelin truck tires were named “Best Tires” in the sixth annual Readers’ Choice poll conducted by The Trucker, America’s trucking newspaper. “It’s a real honor when U.S. truckers choose Michelin as their favorite,” said Randy Clark, vice president of marketing, Michelin Americas Truck Tires. “Michelin truck tires were rated ‘Best Tire’ in 1998, 1999 and now for the year 2001 in this one-of-a-kind poll.” The Trucker surveys its readers annually to find out their preferences in a wide variety of services and products. The publication is a semi-monthly national newspaper for the truckload freight industry.
Retreading
Product NewsWhereas the car tyre retreading sector is in difficulties and has shrunk to a niche (in some countries the niche is completely ignored), truck tyre retreading gets more and more dynamic and battles to attract the customer become ever fiercer. Michelin is particularly aggressive and tries not to ignore any aspect. Already successful with a hot cure process (Remix), the French made a cold retreading offer (Recamic). And now the carcasses of competitors are no longer taboo if they are good enough (Encore). The competitors have to react …
Essen Show Without Michelin Group
Product NewsMichelin will not participate in the “Reifen 2002” tyre show in Essen with an own booth. It was reported that the managers of the tyre divisions (car, truck, agricultural …) have had their own ideas and differing opinions as to the value of the fair and could not come to a conclusion. An official statement from the tyre manufacturer is expected shortly.
Integrated Vehicle Tyre Monitoring Launched
Product NewsA co-operation between Michelin and Wabco sees the launch of a tyre pressure monitoring system specifically designed for commercial vehicles. The system consists of wheel modules which measure tyre inflation pressure and transmit the data to a vehicle mounted receiver. In the event of pressure loss the data is sent several times every minute. The module is attached to the outside of the wheel, alleviating many of the problems associated with internal sensors. An Electronic Control Unit (ECU) capable of handling up to 12 wheels is mounted on the vehicle chassis. In the case of trailer units, each trailer has its own ECU. The ECU transmits the signals to a cab mounted display unit which alerts the driver visually and acoustically whenever a problem arises. The position of the faulty tyre can be ascertained by pressing a button on the display. The system has the advantage of an evaluation algorithm developed by Michelin which detects pressure deviations and leakages immediately. It even functions whilst the vehicle is stationary. The system can be retrofitted and will be commercially available in Europe by the middle of 2002.
NTS Definitely Sold to Management
Product NewsIt is now official: In a MBO, the retail chain NTS and the wholesaler Viking International, have been sold to their top executives. Although neither side wishes to comment on the price, it is now common knowledge that the price is more likely to be 40 million Euro than 50 million Euro. At the end of the 80s the Continental group bought the chain from Michelin for 140 million pounds Sterling because the Monopolies and Mergers Commission signalled that it would not accept the total acquisition by the French company. Continental managers are convinced that the details of the sale will ensure further co-operation with the new owners. Continental is convinced that it will consolidate, or even improve its current position in Great Britain through co-operation with the now independent retailer NTS, under the umbrella of the now named Axle Group.
New Pilot Race Bike Tyres From Michelin
Product NewsFrom two wheel racing to the street: Michelin presents the new motorbike tyre Pilot Race 2 which has only the name in common with its predecessor, the Pilot Race. The new high performance tyre, available in three versions, was derived from the Michelin racing tyres used in the Supersport 600 World Championship 2001 by Kevin Curtain on his Honda CBR 600, during which he won some races and achieved some pole positions.
New Products From Michelin and Kleber
Product NewsMichelin wants to underline its reputation for innovation concerning agricultural tyres with the presentation of three new tyres: “MACHXBIB”, “XM 28” for tractors exceeding 180 horse power and the trailer tyre “CARGOXBIB”. The first one comes in two versions: an on-land version (650 mm wide) for transport and for work along the furrow and the in-land version (900 mm wide) with significantly reduced soil compaction and excellent traction performance. Highlight on the Kleber stand is the new “FITKER” a 70-series tyre that will be available in the two dimensions 480/70 R28 and 580/70 R38, and which replaces its predecessors, the “Super 8L” and “9L”.
Kormoran EKOPRO Tractor Drive Axle Tyre
Product NewsMichelin has launched the new Kormoran EKOPRO agricultural drive tyre to replace the AN-21. Designed for use on low to medium horsepower tractors, the EKOPRO is a standard profile radial, which will initially be available in 13 sizes from 9.5.R 24 to 18.4 R 38 with further sizes up to 20.8 R 38 available in 2002.
Michelin Warns Of Truck Tyre VAT Fraud
Product NewsMichelin has warned its customers and distributors in Europe to beware of truck tyres being offered at extraordinarily low prices. These are believed to be the result of VAT fraud and Michelin is working with customs authorities and police across Europe. Investigations have already identified organised criminal networks and, as a result, a number of VAT frauds have been broken up. Michelin is concerned at potential harm to its truck tyre image and to its distributor network and it asks customers to be aware of complicity should they make illegal purchases from these criminal networks.
