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Cooper Tire Ceases American Kenda Distribution

Cooper Tire & Rubber has ended its marketing and distribution agreement with Kenda Rubber Industrial Co., Ltd. (Kenda USA Corporation) effective 1 May 2009. This means that from May, Kenda will resume responsibility for the sales and marketing, distribution and customer service of the Kenda brand in the United States and Canada. Cooper has been the exclusive marketer of Kenda radial passenger and light truck tyres in US and Canada since November 2004. According to the companies, both parties will continue as partners in the radial passenger and light truck tyre plant in China, “and technical and other related matters.”

“The decision to end our marketing and distribution relationship was a mutual decision between Cooper and Kenda,” said Phil Caris, vice president of sales and marketing at Cooper. “And while the results of the joint venture were positive, it was agreed that a new approach would be beneficial in pursuing each company’s brand strategy. We have been very happy with our relationship with Kenda. As we begin to look into the future, we felt this strategy put both companies in a better position in this tough economic environment.”

17th February 2009/by Tyrepress Editors

Wages Frozen at Michelin North America

Wages for Michelin employees in the US, Canada and Mexico are to be frozen throughout 2009. The company, whose net income dropped more than 53 per cent in 2008, is also eliminating bonuses this year for the five or so per cent of Michelin North America employees normally eligible for such an entitlement.

“In light of the severe and continuing global economic downturn and its impact on the tire markets, Michelin is taking additional actions to protect cash flow, reduce costs and maintain competitiveness,” said Michelin North America chairman and president Dick Wilkerson. “The company is profitable in North America. We are taking what we think is prudent action.”

16th February 2009/by Tyrepress Editors

European, American Tyre Markets Softer in December – Michelin

Figures released by Michelin have confirmed what we already knew – these are not happy times for the tyre industry. Between January and December 2008 the passenger car tyre segment in Europe (including the CIS) shrank for both the OE and replacement markets. The OE market dropped 7.2 per cent during the year, while replacement market sales declined 4.0 per cent. During the month of December 2008, OE sales plummeted 39.1 per cent year-on-year, while aftermarket sales grew by 7.6 per cent.

The European OE truck tyre market declined by 0.9 per cent between January and December 2008, and the replacement tyre market by 9.7 per cent. During December 2008 OE sales dropped 40.7 per cent year-on-year, and replacement market sales 31.0 per cent.

13th February 2009/by Tyrepress Editors

Nokian Net Income Down 17% in 2008

Sales at Nokian Tyres increased 5.5 per cent in the twelve months to December 31, 2008, totaling 1.08 billion euros for the year. During the final quarter of the 2008 year, however, sales slumped 24.9 per cent to 267.7 million euros. Annual operating profit, at 247.0 million euros, was also up 5.5 per cent, however during the final quarter it more than halved to 46.5 million euros. Net profit for the 12 months amounted to 139.9 million euros, 17.2 per cent less than in 2007. Nokian Tyres reports a net loss of 11.6 million euros for the final quarter.

11th February 2009/by Tyrepress Editors

Vee Rubber Catering to Export Markets

In terms of the variety of tyre types produced, Vee Rubber Group is the leading company in Thailand – the company manufacturers a range that covers numerous applications, from go-kart to large commercial vehicle tyres. Most of the company’s production output – which in 2008 amounted to 24 million units – is destined for export, and Vee Rubber designs and manufactures tyres that are suited to their target markets.

Recently Vee Rubber introduced company’s first light truck and 4×4 tyre developed specifically for the North American market – the Taiga H/T. the new tyre was extensively tested in a number of different climates and on many different surfaces, including off road and the result, the company says, is a quiet, comfortable tyre with a long tread life; in the US, the tyre is offered with a 50,000 mile limited tread wear warranty. While the Taiga is not designed as a snow or all terrain tyre, it aims to allow drivers to face everyday driving with confidence, whatever the conditions.

10th February 2009/by Tyrepress Editors

Michelin to Cut Production at North American Plants

In a move to reduce inventory at some of its facilities, Michelin North America is reducing production of selected product lines. The company has described these cuts, which will affect five North American plants, as coming “in response to the unprecedented deterioration in market conditions.”

“Market demand is down tremendously,” said Michelin spokeswoman Lynn Mann. “Consumers are being very careful in their purchases. They’re driving fewer miles. As fewer goods are shipped, commercial truckers are driving fewer miles.”

5th February 2009/by Tyrepress Editors

Goodyear ‘Aggressively’ Responding to the 2009 Market Environment

At the JP Morgan High Yield Conference on February 3, Goodyear Tire & Rubber discussed industry conditions during the final quarter of 2008 as well as the corresponding production cuts it undertook during the period.

“It is widely known that the economic slowdown is having a considerable impact on consumer demand and industry volume,” said Goodyear executive vice president and chief financial officer Darren R. Wells. “Fourth quarter industry volumes were well below expected levels, prompting a significant increase to our production cuts that now extend across all business units.” Wells said that Goodyear is responding ‘aggressively’ to the 2009 environment with additional cost savings and inventory reductions. “We continue to adjust production to reduce inventory levels and to keep pace with the lower demand environment.” The company plans to announce a series of new actions on its full-year conference call, scheduled to be held on February 18.

3rd February 2009/by Tyrepress Editors

Michelin Winter Tyre Recall Update

Michelin North America’s recall of 597 Michelin Pilot Alpin PA2 ZP winter tyres in size 225/50 R17 94H sold in the U.S. came because of a sidewall labeling issue. The mis-labeling was because the letters “DOT” are missing from both sidewalls of the affected tyres. The recall only applies to tyres containing DOT TIN identification code “6U0A 5JEX” and DOT TIN date codes between 3806 and 2308 inclusive.

“These tyres meet all performance criteria, but we must recall the affected tyres because they were produced without the required letters ‘DOT’ on the sidewall of the tyre.” said Francois Jacquin, passenger and light truck replacement tyre quality director for Michelin North America. “The issue has been corrected and consumers who purchased the affected tyres will receive new tyres that have the required ‘DOT’ letters free of charge.” (Tire Review/Akron)

3rd February 2009/by Tyrepress Editors

YHI Offers a Comprehensive Range of Automotive Products

For the YHI Group, Tyrexpo Asia is a hometown show. Although the distributor and manufacturer boasts subsidiaries and associated companies in Malaysia, Thailand, Vietnam, China, Hong Kong, Taiwan, USA, Japan, Canada, Australia, New Zealand, the UAE and Italy, the Group’s activities are directed from Singapore. From humble beginnings as a sole proprietorship in 1948, YHI has grown to become a mainboard-listed company on the Singapore stock exchange and a recognised distributor of high quality automotive and industrial products and a quality manufacturer of after-market alloy wheels. The tyre brands YHI distribute include Yokohama, JK Tyre, Achilles and its own brand, Neuton.

3rd February 2009/by Tyrepress Editors

Hankook – “Kontrol Technology”

“Kontrol Technology” is Hankook’s technology philosophy, which reflects how the tyre should perfectly control the interaction between the driver, the car and the road while in motion (the ‘K’ stands for kinetic). It is implemented to ensure that Hankook provides the greatest benefits and driving experiences to customers in terms of safety, driving comfort, handling, performance and environmental friendliness.

As well as a Kontrol Technology information booth at Sema, Hankook showcased its new, environmental tyre – enfren – which has completed the Kontrol Technology cycle and was launched in Korea. Hankook is exploring the possibility of a North American version within three years.

30th January 2009/by Tyrepress Editors

Falken Expands Motorsports Involvement

Falken has enjoyed considerable success in the comparatively new motorsport of drifting, with teams performing in vehicles shod with Falken Azenis RT-615. In fact, Falken was the first tyre manufacturer to back drifting when it was introduced to the USA in 2003.

In 2008, the company broadened its motorsports horizons when it took part in the American Le Mans Series (ALMS) competition. This is unusual in the fact that open tyre competition is encouraged and there are six manufacturers currently in competition, developing tyres specifically suited to the 11 different tracks in the series.

30th January 2009/by Tyrepress Editors

Michelin Golf Event Raises $108,000 for Charities

The 2008 Michelin Pro-Am Charity golf tournament raised $108,000 for six charities in Greenville County, South Carolina, the company announced.

Hosted on 20 October, 2008, the event included Michelin suppliers from around the globe. Over the 19 years of the annual event, the Michelin Pro-Am Charity tournament has raised more than $1.5 million for local charities.

“Michelin’s commitment to the Greenville community comes from our core value of respect for people,” said Herb Johnson, director of community relations for Michelin North America. “Our suppliers understand and support this commitment, which allows this tournament to support organizations that are making a significant impact on the children and youth in our community.” (Tire Review/Akron)

30th January 2009/by Tyrepress Editors

Cabot Chemicals Announces Closures and Layoffs

Specialty chemicals producer Cabot Corporation announced on January 28 that reduced sales have caused its fiscal first-quarter profit to drop 88 per cent versus the previous year. In hand with this news, the company announced it would cut 500 jobs, some 12 per cent of its workforce, as part of a comprehensive restructuring plan.

Net sales of US$652 million were recorded in the first quarter of fiscal 2009, compared with $711 in the first quarter last year. This represents a decline of 8.3 per cent. Net income for the quarter was $4 million, as opposed to $36 million in Q1 2008.

29th January 2009/by Tyrepress Editors

Michelin Aircraft Tire Signs Up New Marketing Firm

The Michelin Aircraft Tire Company, a division of Michelin North America, has a new corporate mouthpiece following the appointment of Jackson-Dawson Marketing Solutions to handle marketing communications for the business unit. The South Carolina based marketing firm already handles marketing communications and public relations for Michelin North America’s truck tyre and earthmover tyre divisions, event planning and logistics services for Michelin North America’s passenger car tyre division.

28th January 2009/by Tyrepress Editors

CTNA Mt. Vernon Factory Not Affected By Cuts, Says Manager

The plant manager at Continental Tire North America’s Mount Vernon facilities has voiced his reassurances following recent news that the parent company plans to reduce its North American workforce. In mid January US media reported the company’s North America CEO Samir Salman as saying Continental AG was moving towards reducing its workforce in this region by 10 per cent during 2009.

27th January 2009/by Tyrepress Editors