Following the breakdown of talks between Kumho and the consortium led by JP Morgan Chase and Carlyle Group, concerning the sale of 80 per cent of Kumho’s Tyre Division, a media report from Korea says that talks are on-going with the South Korea Military Pension Fund to buy the company. Neither the fund, nor Kumho, nor the state-run Korea Development Bank, which the report says would provide funding for any deal, would comment on the report.
Hundreds of homeowners were warned to remain indoors and keep their doors and windows shut after clouds of black smoke from a blaze at a scrap tyre depot in Levenshulme, Manchester swept across the area.Thirty military personnel and five Green Goddess tenders were sent to tackle the blaze at the tyre depot in, Levenshulme, late last night, and they were still dealing with the incident more than twelve hours later. Loudspeaker warnings for people in Levenshulme and Gorton to remain inside and keep doors and windows closed, to keep out fumes from the burning rubber, were relayed by the Greater Manchester Police helicopter. And motorists were being urged to avoid the area completely. A further four Green Goddesses were despatched to another blaze in nearby Stockport to tackle a tyre dump fire.
The US Military is a large consumer of retread tyres but a new development may see them also utilising recycled tyres. The Denlin Corporation is to demonstrate a new helicopter landing pad made from the company’s Treadoles(R) recycled tyres. “This product is of great interest to the military, industrial, commercial and retail markets,” said Dennis Martin, president. Besides helicopter landing pads, Martin said Denlin is using it in ballistic armour shields for military vehicles and ground troops. Both products are weeks away from first commercial use, he claimed. Denlin’s helicopter landing pad, custom made for desert fighting and field combat installation, helps eliminate sand blasting of critical helicopter parts, including rotors and engines. The manufacturing process uses “an unique, innovative cutting process,” according to Martin. Recycled vehicle tyres are used without the need for further processing of the rubber material. Other applications include flooring, roofs and roadways for third world countries.
On the eve of the Paris Air Show, Goodyear announced that it was to triple production of radial aircraft tyres at its plant in Danville, USA, where the company has recently invested $10 million. The production increase is in response to growing demand due to increasing radialisation in the aircraft tyre sector, although bias-ply tyres still make up the majority of this market. The radials will fit military and private planes, as well as commercial aircraft such as the Boeing 737 and Airbus A320.
Titan Tire has won a contract to supply in excess of 45 million US Dollars with of bolt together two-piece wheels to the United States Army. This is claimed to be the largest military contract Titan has ever won.
Titan International’s financial figures for the third quarter have been released. Turnover was $100.5 million, compared with $119.8 m for the same period last year. Titan recorded a net loss for the quarter of $9.5 m (Q3 2000: $7.4 m). The net loss for the year to date was $13.3 m, compared to a net profit for YTD last year of $12.5 m. President and CEO Maurice Taylor Jr. was optimistic that Titan would turn the corner next year, pointing to the end of the 40-month strike at the Des Moines plant and the gaining of a $45 million military contract as positive factors.
Goodyear has won new and extended contracts for off-the-road tyres from the US Army, valued at $16 m. One is an $11.5 m deal to supply AT-2A traction tyres (size 14.00R20) for five-ton cargo trucks. The extended contract is for $4.5 m to supply the same tyres in size 16.00R20.
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