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CMA & Double Coin Announce New Brand Image

A new look is being rolled out by CMA, LLC and Double Coin tyres in the US by way of a new logo design and brand positioning. The new image, reports the North American distributor of the Chinese made brand, represents the changing dynamics of the organisations and the products, while the new logos provide the backbone of a new marketing campaign and strategy.

“The new CMA logo will match our business target of a progressive, modern corporation” CMA’s president, Mike Yang, said. “CMA’s business has changed since its formation as an organisation in 1997. This new logo represents our growth and future direction.” Aaron Murphy, vice president of CMA, added: “CMA has been known as a cutting-edge manufacturer and supplier. As we energise our marketing and manufacturing to position ourselves as a Tier 2 supplier, the perception of our image must match.”

4th February 2008/by Tyrepress Editors

CTNA Drawing Profits from Passenger/LCV Segments

Continental Tire North America says its passenger/light truck tyre division will finish 2007 in the black for the first time in a decade. CTNA CEO Matthias Schonberg and Andreas Gerstenberger, executive vice president of sales and marketing for the unit, shared the news with trade media on February 1. While exact figures are not available yet, the pair assured that CTNA’s passenger/light truck tyre unit ended 2007 with a profit. There was no word on the financial results of CTNA’s commercial tyre business.

Contributing to the group’s results was accelerated sales of General brand products in North America, they said, driven by the General Altimax powerline introduced last year. CTNA officials said some 1.2 million Altimax units were sold in 2007, far exceeding expectations. Production rationalisation in North America, the expansion of CTNA’s plant in Mt. Vernon, Illinois, and the addition of a new plant in Brazil also helped drive the year’s results, they said.

4th February 2008/by Tyrepress Editors

Performance Fibers Appoints New COO

Manufacturer of polyester fibre for the tyre industry, Performance Fibers, has named Alexander J. Carnevale to the position of vice president/chief operating officer to manage business operations worldwide, and Marc Sicre to lead the company’s European business. Mr. Carnevale’s role is a newly created position, formed at a time when the company reports it is continuing to experience ‘aggressive growth’.

The addition of the COO position to the global leadership team will, the company states, strengthen Performance Fibers’ organisational structure, which is centred around strong regional businesses in Europe, North America and Asia, supported by global functions. Under the new structure, the leaders of each of the three regions will report to Carnevale and maintain the company’s strong regional focus, while Carnevale will be responsible for developing a cohesive global plan for the company.

1st February 2008/by Tyrepress Editors

Yokohama Enters Partnership with Mazdaspeed

Mazda’s motor racing support operation in North America, Mazdaspeed Motorsports Development, has announced Yokohama Tire as a new partner for the B-K Motorsports Lola B07/46-Mazda MZR-R LMP2 team as of 2008. The multi-year partnership is, according to Mazdaspeed, more than just a sponsorship arrangement, with Yokohama acting as a key contributor to the team’s overall programme in terms of technical and marketing collaboration. The announcement of Yokohama’s partnership was made simultaneously to a similar agreement with BP.

31st January 2008/by Tyrepress Editors

Deal Signed – Kumho Coming to America

In ceremonies yesterday, Kumho Tire Co. formally signed an agreement to build a US$225 million tyre manufacturing facility on a 127-acre site in Sofkee Industrial Park in Macon, Georgia. Attending the signing ceremony were Sae Chul Oh, Kumho’s CEO and president; Georgia Governor Sonny Perdue; Ken Stewart, commissioner of the Georgia Department of Economic Development; Macon Mayor Robert Reichert; and Charlie Bishop, chairman of the Bibb County Board of Commissioners.

The first phase of the greenfield plant, said Kumho, will cost $165 million with an annual production capacity of 2.1 million passenger and light truck/SUV tyres, destined for both OE and replacement markets in North America. The second phase will cost $60 million and will raise annual capacity to 3.1 million tyres. The 5.5 million-square-foot plant will feature Kumho’s automated APU manufacturing system, and will eventually employ 450 people.

31st January 2008/by Tyrepress Editors

Preliminary Figures Show Strong Revenue Growth at Delticom

Leading European online tyre retailer, Germany’s Delticom AG, has delivered news of greatly increased 2007 financial year revenues. According to preliminary consolidated IFRS figures, year on year revenues have jumped by about 24 per cent, from 173 million euros in 2006 to 214 million euros last year. This figure is at the upper end of Delticom’s forecast (210 – 215 million euros). At the same time, EBIT of between 12.0 million and 12.5 million euros is anticipated for 2007, up from 10.2 million the previous year.

From this total revenue figure, eCommerce revenues totalled 194 million euros, an increase of 25 per cent. Revenues in Delticom’s wholesale division were up year-on-year from 18 million to 20 million euros. Delticom attributes what it views as strong growth in 2007 to the ongoing positive growth in business at its online shops, of which the company now has a total of more than 86 in 30 countries. More than 600,000 new customers were acquired in 2007, raising the total number of customers to more than 1.8 million. There has also been constant growth in the number of partner workshops: right now customers can have their tyres fitted in more than 20,000 workshops worldwide.

31st January 2008/by Tyrepress Editors

Analysts: High Raw Material Prices Protect Tyre Manufacturer Margins

Following Bridgestone’s recent decision to increase prices in North America, Deutsche Bank analysts have observed that high raw material prices are allowing the leading players to indirectly influence market prices. In their words, Bridgestone’s recent 8 per cent price hike is a “good indication that the oligopoly is working.” The market watchers continued: “Prices are, paradoxically, a good protection on margins.” Assuming that only 50 per cent of these price increases are being sustained within the market, this would allow the manufacturers to offset a 12 per cent synthetic rubber or natural rubber price increase, according to Deutsche Bank.

29th January 2008/by Tyrepress Editors

Bridgestone Prices on Way Up in North America

North America market prices for Bridgestone and Firestone brand tyre lines, plus all Bridgestone Firestone North American Tire (BFNT) associate brand tyres, are to increase by up to 8 per cent. These increases, which commence March 1, 2008, will apply to OE, replacement and export market tyres in the passenger, light truck, TBR, OTR and agricultural tyre segments.

“The continuing unprecedented upward spiral of energy and raw material costs makes this action necessary,” said Asahiko “Duke” Nishiyama, vice chairman and president of BFNT. “This unrelenting escalation of costs is simply not a situation that can be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. As a result, we have no choice but to implement this price increase.”

29th January 2008/by Tyrepress Editors

Michelin NA Chairman and President Micali to Retire

Jim Micali’s three-decade career with Michelin will draw to a close later this year. The company has announced the impending retirement of the Michelin North America chairman and president, who will hand over the reins to Richard (Dick) Wilkerson on August 15.

Joining the company in 1977, four years after graduating in law from Boston College Law School, Micali’s early career with Michelin saw him serve in a number of positions within the company’s legal department, including two assignments in France. In 1985 he was named general counsel and secretary for Michelin North America, and in 1990 he moved on to become executive vice president of the North American legal and finance functions. Micali has served in his current role since 1996. Following his retirement, Micali will act as a consultant for Michelin North America and for several companies based in South Carolina.

23rd January 2008/by Tyrepress Editors

Former PTNA Boss Mannino Announces New Venture

The former president and CEO of Pirelli Tire North America, Gaetano “Guy” Mannino, is drawing upon his years of sales, marketing and manufacturing experience with the Italian tyremaker in his latest business venture. Mannino, whose quarter-century tenure at Pirelli ended in October 2007, has announced the formation of Verdek, a consulting and trading company with corporate headquarters in Rome and offices in Connecticut and Tuscany.

21st January 2008/by Tyrepress Editors

Bridgestone to Increase PCR Capacity in Thailand

Bridgestone Corporation has announced that its subsidiary in Thailand, Thai Bridgestone Co. Ltd., will boost capacity at its Nong Khae passenger car tyre facility. Daily production capacity will increase 6,000 units by the end of 2010, giving the plant a total daily capacity of 36,500 tyres. The pcr tyres produced at the Nong Khae plant, including UHP products, are sold on the domestic market and are also exported to other parts of Asia, Europe and North America. The increase in capacity will reportedly be mainly used to supply export markets.

21st January 2008/by Tyrepress Editors

Chinese Car Makers Have Long-Term Plans For US Market

Apparently, there are five Chinese car manufacturers exhibiting at the Detroit auto show – five times as many as at last year’s event – and they have plans to sell their products in the US market. But not just yet, as the Chairman of BYD Auto, Chaung-Fu Wang is quoted as saying that it would take about “three to five years” to accomplish this.

One problem is the recent spate of recalls of Chinese goods across a wide spectrum, which has raised questions in the minds of some about quality. BYD plans to introduce a dual-mode hybrid vehicle capable of travelling for 60 miles on battery power only and the company says it has over 500 engineers working on the project, with the vehicle scheduled to go on sale in China later this year.

16th January 2008/by Tyrepress Editors

Apollo Invests 200 Million Euros in Hungary Car Tyre Plant

Apollo Tyres Ltd and Hungarian authorities have entered an agreement to build a passenger car radial tyre production plant with a first phase annual capacity of 7 million units. Phase one of the project is expected to be completed in 18 months time at a cost of 200 million euros. Hungarian Prime Minister, Ferenc Gyurcsany, and chairman & MD of Apollo, Onkar S Kanwar, met this morning, resulting in an “invitation” for Apollo to build the factory. The most likely site of the project is in Gyongyos outside Budapest city, Hungary.

The fact that Apollo describes the deal as an “invitation” and refers to the Hungarian Investment Agency as being “very helpful” suggests that public subsidies are involved. No details of this are currently available. However, when Hankook built its 500 million euro (£340 million) plant in Dunaujvaros, Hungary recently, it received approximately 20 per cent of the total investment in assistance. Roughly half of this was direct subsidy with the rest coming in the form of tax relief. An Apollo statement on the subject reports that the company has been evaluating various options for a European manufacturing hub to service the European and North American markets in a process that began about nine months back ago.

Commenting on the plans at a media briefing, Hungarian Prime Minister Ferenc Gyursacy said: “I am well aware of Apollo Tyres as a leading tyre manufacturer with a global expansion plan. We are very keen to have Apollo set up its first green field manufacturing unit, outside India, in Hungary. Apollo will bring to Hungary its world class manufacturing expertise, technology and people management skills.”

Onkar S Kanwar added: “So far, this is the largest investment made by any Indian company in Hungary. This manufacturing facility in Gyongyos, Hungary, will become our hub to service our passenger car radial customers in Europe and North America. This is a key investment in our global strategy. The Hungarian Prime Minister, the Investment Agency and all officials associated with this decision have been immensely helpful throughout our negotiations…Apollo Tyres is currently in a growth mode.”

According to Apollo, the European investment is designed to compliment Apollo Tyres’ planned investment in India. Yesterday, the Indian manufacturer’s board of directors approved 2.2 billion rupees for the construction of a world class greenfield radial facility in the recently acquired 135 acres of land in the Oragadam Industrial Park, outside Chennai city in Tamil Nadu. This investment is in the first phase of the project, which is also to be completed in the next 18 months.

16th January 2008/by Tyrepress Editors

Bridgestone Dueler OE for New Generation Toyota SUV

In 2007 and 2008 Toyota is launching in numerous global markets the next generation model of its Highlander 4×4, and Bridgestone has announced that in North America the smaller sibling of the Landcruiser will come fitted with Dueler H/L 400 tyres as original equipment. The 270 hp 3.5 litre V6 powered vehicle is available in three versions: The entry level Base will be sold with P245/65R17 105S size tyres, while the Highlander Sport and Limited, both supplied with 19-inch alloy wheels as standard, will be fitted with the P245/55R19 103S.

The Dueler H/L – the “H/L” being short for ‘highway luxury’ – 400 has a directional all-season tread pattern for wet and dry traction. The tyre is also fitted as OE to the Audi Q7, BMW X5, Mazda CX-9 and Acura MDX in North American markets. While the H/L 400 is not sold on this side of the Atlantic, similar models in the Dueler family, such as the H/L 683, are available in the UK.

14th January 2008/by Tyrepress Editors

MTNA Creates New Sales Region, Appoints New Managers

Marangoni Tread North America (MTNA) reports that it experienced record sales in 2007 and anticipates continued incremental growth. The company adds that increasing its salesperson to dealer ratio is viewed as a priority, and thus MTNA has created an additional US sales region, to give the company a total of four; Northeast, Southeast, Central, West. A new region sales manager, Doug Edwardsen, will be responsible for the newly established Central region. Edwardsen, a former Bandag Executive, has worked within the tyre and retreading industry in the US and Canada for over 25 years and possesses, reports MTNA, extensive experience in the distribution and development of fleet and dealer sales.

14th January 2008/by Tyrepress Editors