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New PCL Brand Image Reflects Global Growth

Pneumatics Components Ltd. (PCL) is undergoing a brand makeover to reflect the company’s recent development and strategy for the future. The past five years have seen numerous changes for the company as PCL has strengthened its strong global position in tyre inflation equipment and services and established itself as a leading provider of pneumatic products, a position achieved through the development of a range of new products, including the company’s electronic tyre inflation ranges and its air tool and air treatment ranges. The ever-more comprehensive PCL product portfolio has been backed up by the expansion of international businesses, with the company opening offices in Malaysia, the USA and India, plus the revamping of global distribution and support services.

The company’s new logo, packaging and website will be integrated into the business over the coming months. PCL are confident that the new look, with its new clean, corporate design, will mirror PCL’s reputation as a professional, innovative and dynamic company with a sound manufacturing base, and reflect the company’s continuing investment as the tyre inflation and pneumatics expert. The PCL corporate brand will utilised on all pneumatics and tyre inflation products in all markets.

7th November 2007/by Tyrepress Editors

Cooper Reports Q3 Profit & Record Sales

Cooper Tire & Rubber has reported a net income of US$30.2 million or 48 cents per share for the quarter ended September 30, 2007, a marked contrast with last year’s third quarter loss of just under $25 million. Income from continuing operations increased by more than $41 million from a loss of $23.5 million for the same period last year, resulting in earnings per share of 29 cents from continuing operations. Income from discontinued operations also contributed $12.4 million, or 20 cents per share, for the quarter. The continued growth in earnings was accompanied by a new record of $767.7 million in sales for the quarter, an 11 per cent increase over the same period last year.

The company attributes its more positive quarterly results to improved pricing in North America and increased tyre unit sales for its international segment. The improvement was also supported by Cooper’s ongoing cost and profit improvement initiative implemented throughout the year. As a result, operating profit improved to $32.7 million in the third quarter of 2007, compared with an operating loss of $5 million in the third quarter of 2006. For the nine month period ended September 30, 2007, the company’s net income improved to $68.6 million on $2.2 billion of sales. This is a $119 million improvement in net income over the same period a year ago.

7th November 2007/by Tyrepress Editors

Cabot Announces Fourth Quarter and Fiscal Year Operating Results

Carbon black producer Cabot Corporation has announced a net income of US$24 million ($0.36 per diluted common share) for its fourth quarter of 2007 period, including $5 million after-tax ($0.07 per diluted common share) of charges from certain items and discontinued operations, compared with net income of $27 million ($0.39 per diluted common share) for the fourth quarter of fiscal 2006, which included $16 million after-tax ($0.25 per diluted common share) of charges from certain items, discontinued operations and the cumulative effect of an accounting change.

For the full fiscal year 2007, the company announced a net income of $129 million ($1.90 per diluted common share), including $22 million after-tax ($0.32 per diluted common share) of charges from certain items and discontinued operations, compared wit the company’s full fiscal year 2006 net income of $88 million ($1.28 per diluted common share), which included $36 million after-tax ($0.54 per diluted common share) of charges from certain items, discontinued operations and the cumulative effect of accounting changes.

2nd November 2007/by Tyrepress Editors

Evonik Acquires Degussa Engineered Carbons

Evonik Industries has acquired the remaining 50 per cent of shares in its former carbon black Joint Venture – Degussa Engineered Carbons (DEC), effectively 29 October 2007. DEC will now be a 100 per cent owned subsidiary of Evonik. Financial details of the transaction have not been disclosed.

“Carbon black is one of our strategic growth areas that we are systematically expanding. This transaction underlines Evonik’s commitment in the North American market and will add significant value to our Group,” said Dr. Klaus Engel, Member of the Management Board of Evonik and responsible for the Chemicals business area. Thomas Hermann, head of Evonik’s Advanced Fillers & Pigments Business Unit, commented: “The acquisition is an important step to consolidate our position in one of our key strategic markets, and will help us to serve our global key accounts even better.”

1st November 2007/by Tyrepress Editors

New Super Jumbo to Roll on Bridgestone Tyres

Bridgestone has reported that its aircraft radial tyres were those chosen for fitment to the first production model Airbus A380. The super sized airliner was delivered to Singapore Airlines and entered service on October 25, its maiden flight taking place on the Singapore to Sydney route. Subsequent A380 airliners shipped to global carriers will also come mounted with the tyres, which Bridgestone claims offer superb safety and fuel efficiency.

In order to accommodate takeoff and landing speeds of up to 370 km/h and takeoff gross weights of as much as 560 tons, Bridgestone manufactures aircraft tyres using what it calls its “Revolutionary Reinforced Radial” (RRR) design, a radial structure with high elastic modulus/strength cords. The construction of an RRR technology tyre includes an inner belt that minimises tyre expansion in the radial direction and an outer belt that resists external damage. By suppressing tread tension the RRR structure also reduces the possibility of damage from running over objects. Should the tyre be damaged, the structure minimises the possibility of tyre destruction through bursting or tread separation.

1st November 2007/by Tyrepress Editors

Michelin Canada Cleared of Pension Fund Wrongdoing

A Supreme Court in the Canadian province of Nova Scotia has ruled in favour of Michelin in a dispute between the tyremaker and a number of retired employees over CA$268 million (£136 million) the retirees believe to be owed to their pension plan. Between 1984 and 1988 and then between 1995 and 2001 Michelin North America (Canada) covered its required annual contribution to the fund using a surplus in the plan. The former employees wanted Michelin to place that money back in the fund, and instigated legal proceedings to force the company to do so.

31st October 2007/by Tyrepress Editors

Nokian Tyres North America President to Retire

In the New Year Dennis Gaede will retire from his position as president of Nokian Tyres North America. His tenure as president, during which time the company’s North American sales grew from US$3 million to $115 million, and 15-year career with Nokian will end as of January 15, and Bernie Del Duca, current vice president of sales, Nokian Tyres North America will take up the position.

The company’s North American operation is also to receive a new managing director. Jan Lepisto, who at present is managing director of Nokian in Sweden, will step into this role.

30th October 2007/by Tyrepress Editors

Michelin Q1-3 Sales up 4%

Michelin has announced that its consolidated net sales for the first nine months of 2007 have risen 4.0 per cent to almost 12.6 billion euros, an increase of 7.2 per cent (at constant exchange rates). Third quarter sales were slightly under 4.2 billion euros, a 2.5 per cent increase at constant exchange rates that Deutsche Bank analysts report is “in line” with its estimate of 4.3 billion euros. The German bank’s Equity Research division further commented that the key positive factors driving earnings in the third quarter, a period it has described as “uneventful”, were Michelin’s price/mix, up 3.7 per cent or 153 million euros, and volume, which showed a 1.4 per cent or 59 million euro rise.

Over this same quarterly period the company’s sales volumes posted a year-on-year growth of almost 3.0 per cent. During the first six months of the year this increase was at a rate of 3.6 per cent, but during the third quarter growth slowed to 1.4 per cent; Michelin’s replacement passenger and light truck tyre business was impacted by what the company has called “less supportive European and North American markets” during the quarter, while in the US Michelin’s sales of truck tyres dropped by 39.2 per cent as a result of a sharp decline in truck OEM activity.

30th October 2007/by Tyrepress Editors

CMA to Open First North American Warehouse

(Akron/Tire Review) China Manufacturers Alliance has opened its first North American distribution centre. Located in Memphis, Tennessee, the 14,000-square metre facility is set to open later this year. “Acquiring this new Memphis distribution centre was necessary to support Double Coin’s rapid growth in North America, and will help us continue providing industry-leading service to our customers,” said company officials.

The centre is located on 4.25 hectares near Memphis International Airport. It will serve as CMA’s primary distribution point for OE and replacement Double Coin brand medium truck and bus radials and radial OTR tyres. CMA also leases warehouse space in Urbana, Ohio, for OE distribution.

The company also said that future distribution centres are being considered.

25th October 2007/by Tyrepress Editors

TRIB Publishes Retreading Statistics

North American based member supported industry association the Tire Retread & Repair Information Bureau (TRIB) reports that approximately 18.6 million retreaded tyres were sold in North America during 2006, with sales exceeding US$3 billion. The majority of these were medium truck tyres. TRIB further reports that currently there are approximately 900 independent and manufacturer linked retreading plants operating in North America.

24th October 2007/by Tyrepress Editors

Yokohama Announces New OE Contracts with Audi, Chrysler

Yokohama Rubber has announced that the latest addition to its high performance Advan Winter tyre range, the V902, has been approved by Audi as OE winter tyre for the S6 and Audi S8. Tyre sizes to be fitted are 265/35R19 98V XL for the S6 and 265/35R20 99V XL for the S8. Both sizes are for front and rear. The S6 and S8 are the first Audis to come equipped with Yokohama winter tyres, and will be factory-fitted options for the German market and available to order through Audi dealerships in other countries.

Yokohama states it is proud to have met the high technical standards required in the development process it has undergone with Audi AG, and comments that the Advan Winter range perfectly balances high-speed stability, comfort, handling and braking in wet and dry conditions, as well as showing good traction and braking on snowy and icy surfaces. Since 2004, “Advan Sport” summer tyres have been homologated by some of the world’s leading car manufacturers, including the Audi S8, the Bentley Continental series, Mercedes-AMG models and the Porsche 911 and Cayenne.

24th October 2007/by Tyrepress Editors

Michelin to Appeal US Court Ruling

Michelin North America intends to appeal the decision of a circuit court in the state of Louisiana. A jury awarded 54 year old Drusilla Boudreaux US$32.4 million after deciding Michelin was responsible for a 2002 accident in which she was paralysed. Ms Boudreaux was a passenger in a vehicle that skidded on a wet road, crashed and caught fire. The owner of the vehicle had recently purchased two new BFGoodrich tyres, which were installed on the car’s front axle.

The jury placed responsibility for Ms Boudreaux’s injuries upon the tyremaker as they determined that it had not adequately informed all tyre retailers about the increased danger of aquaplaning should new tyres be fitted to the front axle of a vehicle rather than the rear. The plaintiff’s legal representatives attest that Michelin was aware that fitting new tyres to the front axle increased the risk, but the tyremaker only informed the large US chain Costco of the potential danger. Costco was sent a safety video and policy document. Attorney Carey Wicker told the court “when Costco enforced the policy, they lost two per cent of their sales or about $10 million per year based on sales of 500 million tyres per year.” Wicker further argued that “because of the customer backlash Michelin did not do the video or policy document with anybody else.”

22nd October 2007/by Tyrepress Editors

Michelin Produces 100 Millionth Tyre in Bridgewater, Canada

The Michelin North America plant in Bridgewater, Canada has turned out its 100 millionth tyre. The production of this milestone item, a LTX A/T2 truck tyre, was marked by staff and management at the facility in Nova Scotia, and plant manager Dana LeBlanc referred to it as “an important event for everyone here at Michelin in Bridgewater.”

“Since 1973 the Bridgewater facility has been a leading example throughout Michelin of producing quality tyres,” said LeBlanc. “Achieving this production milestone again demonstrates how Michelin in Bridgewater is dedicated to being a leader in the manufacturing sector in Nova Scotia.”

The Bridgewater facility’s 100 millionth tyre follows expansion plans announced in July to modernise and increase production capacity, as well as an expansion announced in August 2006 for the steel cord products operation at the facility.

18th October 2007/by Tyrepress Editors

Automechanika Canada Debuts

(Akron/Tire Review) The recently ended Automechanika Canada – the first for North America – draw nearly 3,000 attendees and 2020 exhibitors from 16 countries. Held in Toronto from September 26 to 28, this first Automechanika event also included participation by the Ontario Tire Dealers Association. Participants included automotive and tyre suppliers, manufacturers, retailers, shop owners and installers, and offered a number of education sessions with the trade show.

Exhibitors came from Brazil, China, Germany, India, Iran, Israel, Italy, Malaysia, Mexico, Portugal, South Korea, Taiwan, Turkey, the United Kingdom and the US, according to organisers Messe Frankfurt. “We were pleased to be able to deliver such a high quality event to the growing Canadian market this year,” said Messe Frankfurt president David Audrain. “Automechanika Canada enabled aftermarket professionals to source new products from around the world and enhance their business in Canada.”

The next Automechanika Canada has been scheduled for June 18-20, 2008.

18th October 2007/by Tyrepress Editors

New Tests Show Need for Greater Minimum Tread Depth

(Akron/Tire Review) Consumer Reports magazine has added its voice to the growing international call for a 4/32nds (3.175mm) minimum tread depth level. Tire Review magazine in North America, Tyresafe in the UK and some tyremakers in Europe have pushed for the tyre industry and national and local governments to adopt new minimum tread depth standards to improve driver safety and reduce lost traction accidents and accident-related deaths.

In its November issue, Consumer Reports stated that the well-accepted “penny test” consumers have been taught to use to check tread depth is inadequate.

“It has long been the standard that tyres are worn out when their tread depth reaches 1/16-inch (or 2/32-inch as found on standardised tread-depth gauges),” CR wrote. “The easiest way to measure this, if you didn’t have a gauge, was to hold a penny upside down in the tread. If the top of Lincoln’s head was visible, you needed new tyres.

18th October 2007/by Tyrepress Editors