North America
Production of new aircraft radial tyres has begun at Bridgestone’s Tokyo Plant in August, reports the company following the completion of the facility’s initial phase. Once the Tokyo Plant is fully completed, which will likely occur by the end of 2011, Bridgestone estimates the factory’s overall production capacity of new aircraft tyres will be approximately 2.5 times the current level.
Continental Tire North America will up the pricing on all of its OE and replacement medium truck tires as of Oct. 1. The increase of up to 10% will cover CTNA’s Continental, General, Semperit and private brand tires. (Tire Review/Akron)
Thousands of Goodyear employees at several temporarily closed US facilities are facing a lean fortnight after learning the company ‘sub-pay’ trust fund that was supposed to cover them during the closure period may contain insufficient funds. This means many workers at affected facilities must rely solely on unemployment benefits to survive.
At the start of August Continental Tire Canada announced its commitment to be an official partner of ICAR, the International Centre of Advanced Racing and owner of a newly constructed racetrack in Mirabel, Quebec. The two companies first worked together on Continental North America’s yearly winter customer event, the Arctic Blast, which took place last February.
ICAR offers Canadian car enthusiasts the unique opportunity to join an exclusive private racing club, participate in a racing school, view professional races or use the location for a corporate event. The actual racetrack is about 3.8 kilometres long. On site there is a separate Kart track, open for members and visitors.
Pirelli Tire North America is increasing prices in the US up to 7 per cent as of November 1. The increase will cover all of Pirelli’s passenger and light truck/SUV lines. (Tire Review/Akron)
Continental Tire North America has introduced the Continental HSL2 long haul steer axle radial. CTNA said the new tyre is “is the first in a series of the next generation fuel efficient tyres” the company plans. The tyre, said CTNA, was developed as an all-position/steer tyre for long haul applications. The new radial features Continental’s patented FlexLock technology, vertical siping, a long wear tread compound, and Visual Alignment Indicators on the shoulder ribs. The tyre is available in sizes 11R22.5, 11R24.5, 275/80R22.5 and 285/75R24.5. (Tire Review)
Declining sales of new cars in North America is expected to be reflected in lower passenger car tyre sales, says Bridgestone. The tyre major expects North America sales in this segment to fall 5 per cent this year. Company CFO Koki Takahashi added that the company expects OE tyre sales in North America to fall 14 per cent in 2008 and those in Europe to fall 3 per cent.
Joseph Rosen has been named president and chairman of Goodyear Dunlop Tires North America Ltd. In his new role, Rosen will be in charge of the joint venture that was formed in 1999 between Goodyear Tire & Rubber Co., and Sumitomo Rubber Industries. The venture employs 1,350 workers at its tyre manufacturing facility in Tonawanda, New York and its corporate headquarters in West Amherst, New York.
Goodyear’s Gadsden factory will stop producing tyres for 16 days from August 16, and four other Goodyear consumer sector tyre facilities in North America are also reducing tyre production. Goodyear Gadsden communications manager Jackie Brehm Edmondson said the Goodyear plant will shut down at 1pm August 16 and reopen at 7am September 2 for an ‘inventory adjustment.’ Plant employees were told of the plans on August 1.
Tyre repair and service products specialist Tech International has made two senior-level appointments.
Tim McLaughlin will serve as a consultant focused on sales and marketshare growth in North America. McLaughlin owns and operates industrial products distributor T. Carson and Co. in Monument, Colorado. Anil Khanna takes over as head of operations for Tech International Canada, overseeing both Tech brand and Truflex/Pang brand sales in Canada. (Tire Review/Akron)
In the US Goodyear has joined the latest round of industry prices increases, announcing a September 1 price hike of up to10 per cent. The tyremaker said the increase would cover all of its Goodyear, Dunlop, Kelly-Springfield and associate brand passenger, light truck and commercial light truck and medium truck tyres. Separately, prices on Goodyear OTR tyres will increase by up to 7 per cent on September 1. (Tire Review/Akron)
The Board of Directors of Pirelli & C. SpA, have released the company’s interim financial statements for the half-year ended 30 June 2008. These results show Group revenues of 2.6843 billion euros, an increase of 2.7 per cent compared with the first half of 2007. The company’s EBIT before restructuring charges of 21.2 million euros were taken into account was 211.5 million euros, a decrease of 4.4 per cent compared with 221.3 million euros as of 30 June 2007. The company’s net result was 9.5 million euros lower than the 198.3 million euros recorded in 2007, and in the most recent half year it recorded a net financial position of negative 823 million euros.
An additional 237 service locations for US truck drivers and fleet operators seeking Michelin tyres and emergency roadside assistance are now available thanks to an agreement between Michelin Americas Truck Tires and InterStar North America. The deal, which has already taken effect, brings Michelin tyres into InterStar’s network of roadside service centres across the nation.
“Emergency road service is a vital component in keeping trucks moving across the country,” said Guy Pekle, vice president of replacement sales, Michelin Americas Truck Tires. “It is essential for us to ensure that truckers who choose to run on Michelin tyres have the best possible access to our products in an emergency. InterStar has long been a service provider to the trucking community, and we believe that this expansion of Michelin product availability, both standard dual tyres and X One tyres, is a great advantage for truckers.”
Cooper Tire & Rubber Company has reported a second quarter loss of $22 million – or 38 cents per share – though net sales reached record $773 million, an increase of $43 million over the prior year.
The increased revenues were partially the result of pricing and improved mix offset by decreased tyre unit volumes in North America. Cooper faced intense challenges during the quarter that adversely affected operating results, including record-high raw material costs, increased utility costs, and weak market demand in North America. Raw material shortages also led to Cooper’s decision to temporarily curtail production during the quarter in North America.
Tech International, which markets the Truflex/Pang brand of industrial chemical and rubber products, including tyre repair and wheel service products, has made two senior-level appointments.
Firstly, Tim McLaughlin will serve in a consultant role to focus on sales and market share growth in North America. McLaughlin owns and operates his own industrial products distributorship, T. Carson and Company, in Monument, Colorado.
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