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Hayes Lemmerz Amends Credit Facility

Hayes Lemmerz International, Inc. has announced that it has concluded an agreement with its lending group to amend its $625 million senior secured credit facility. Among other changes, the amendment favourably modifies certain financial covenants. “This amendment provides Hayes Lemmerz with additional financial flexibility as we continue to rationalise our manufacturing footprint, implement cost reduction initiatives, and capitalize on growth opportunities within our core businesses and in select geographic regions. We appreciate our lending group’s continuing support of our strategic direction and financial priorities,” said Curtis Clawson, President, CEO and Chairman of the Board.

4th April 2006/by Tyrepress Editors

New Dunlop Commercial Tyres Expand US Product Offering

The Goodyear Tire & Rubber Company has announced the addition of new Dunlop tyres to its offering, aimed at filling out its commercial tyre line. The company is rolling out new tyres and sizes in mixed-service to go along with its full line of Dunlop line-haul, regional and urban tyres. Mixed-service tyres, which can be used on- and off-road, feature severe-service tread compounds and improved belt packages for improved resistance to cutting, chipping and tearing when the tyre leaves the roadway. The tyre’s open lug design provides countless tread edges for grip, and yet, tyre technology is used to deliver ride comfort and quietness on the road, company officials said.

4th April 2006/by Tyrepress Editors

Pirelli Announces US Price Increases in May

Due to the continuing rise in prices of raw materials, Pirelli Tire North America has announced that it is increasing passenger and light truck tyre prices by 3%. The price increase will be effective May 1, 2006, and will cover all product lines in the US and Canada.

3rd April 2006/by Tyrepress Editors

Continental Acquires Motorola’s Auto Electronics Business

Continental AG and Motorola, Inc. have jointly announced that the
companies have entered into an agreement under which Continental will acquire Motorola’s automotive electronics business for approximately US$ 1 billion in cash. The transaction includes Motorola’s controls, sensor, interior electronics and telematics businesses.

3rd April 2006/by Tyrepress Editors

Michelin Announces Development Initiative for Waterloo, Canada

Michelin North America (Canada) Inc today announced details of an initiative aimed at contributing to the economic regeneration and long-term prosperity of the Waterloo Region.

Michelin Development will be headed by John Tully, a long-time Michelin North America, Inc. executive. According to the company, Tully brings experience in community relations and customer service to the programme. He will relocate to Kitchener from Greenville, South Carolina to establish the company’s office.

29th March 2006/by Tyrepress Editors

Goodyear Names Highway Hero at Mid America Trucking Show

(Akron/Tire Review) Last night, at the Mid America Trucking Show in Louisville, Ky., Goodyear Tire & Rubber Co. presented Ashford, Ala., truck driver Douglas Crawford with the 23rd Goodyear North America Highway Hero Award.

28th March 2006/by Tyrepress Editors

ArvinMeritor Renews Agreement with PSI

(Akron/Tire Review) ArvinMeritor and Pressure Systems International Inc. (PSI) have agreed to a new long-term collaborative arrangement to continue marketing and distributing the Meritor Tire Inflation System (MTIS). The agreement, first established in 1999, includes key global commercial vehicle markets, the companies said.

28th March 2006/by Tyrepress Editors

Reports: Continental Considering Greenfield Tyre Plant in China

(Akron/Tire Review) Continental AG CFO and Continental Tire North America President and CEO Alan Hippe told media sources in Germany that the company has not yet made a decision on its tyre production plans in China. Hippe did, however, tell AFX News that the company favours setting up a Greenfield plant in the country, allowing the company to take advantage of growing market opportunities in China as well as export to other Asian markets.

27th March 2006/by Tyrepress Editors

Pirelli Launches New Scorpion ATR Tyre in US

Pirelli Tire North America hosted dealers and media as the Milan-based company introduced its newest addition to its highly respected Scorpion light truck/SUV tire range, the Scorpion ATR.

Over 150 dealers and media will be participating in the introduction staged at Bellagio, Las Vegas, with product testing scheduled for Las Vegas Motor Speedway and southern Nevada’s Valley of Fire. Participants will also have the opportunity to experience Pirelli’s expanded range of Run Flat tyres and the new X-Pressure Optic tyre pressure monitoring system.

22nd March 2006/by Tyrepress Editors

Goodyear Appoints Pecorelli VP/General Manager

Goodyear Engineered Products has appointed Jim Pecorelli as vice president and general manager of its North America region. Pecorelli had been director of global manufacturing since 2003. Prior to that, he held general manager positions for Goodyear’s industrial power transmission product, hose and conveyor belt businesses over an eight-year span. Pecorelli joined Goodyear in 1982.

“Jim’s expertise and leadership skills strengthen the link between our sales and marketing, manufacturing and supply chain operations to support continued sales growth,’” said president Tim Toppen. ‘”Externally, he knows our customers and understands the markets and channels. Internally, he has led our commercial and manufacturing teams.”

16th March 2006/by Tyrepress Editors

Pensler Apparently Out of the Running on Bryan Plant

(Akron/Tire Review) Pensler Capital Corp. is out of the running to buy Continental Tire North America’s (CTNA) OTR tyre plant in Bryan, Ohio, sources told Tire Review. Titan International now appears to be the front-runner to obtain the giant tyre facility.

Pensler, said sources, held a number of negotiating sessions with the United Steelworkers and USW Local 890 to facilitate the purchase, but the union rejected each offer made. Pensler, which owns Denman Tire Corp, came into the bidding in January and had signed a letter of intent to buy the plant on 16 January.

16th March 2006/by Tyrepress Editors

Pirelli & C SpA 2005 Results Show Double Digit Growth

In 2005 Pirelli & C SpA achieved double digit growth in revenues (+14.6%), operating profit (+32%) and net profit (+31.3%) compared with the previous year. Publishing its 2005 full-year results, the group explained that it had reduced net debt to 1,177 million euros at the end of 2005. At the consolidated level, group revenue totalled 4,546 million euros, an increase of 14.6 per cent from 3,967 million euros in 2004. EBITDA totalled 568 million euros (12.5% of sales), an increase of 21 per cent from 470 million euros in 2004 (11.8% of sales).

14th March 2006/by Tyrepress Editors

CTNA Plans to End Charlotte Production

Continental Tire North America (CTNA) says it will suspend production at its Charlotte, North Carolina tyre plant in mid-September. CTNA has already threatened to cut production in half at the plant, laying off some 513 workers in total over two separate reductions, the first scheduled to take place 15 March and the other in June.

“Due to skyrocketing costs for energy, raw materials and health care, CTNA cannot continue to operate the Charlotte plant with our current manufacturing cost structure,” said Alan Hippe, CTNA’s president and CEO. “Because we have so far been unsuccessful in restructuring our labour agreement with the union to significantly reduce manufacturing costs, CTNA must take immediate steps to reduce its costs.”

13th March 2006/by Tyrepress Editors

Roffler Hired by CTNA as Marketing Director

(Akron/Tire Review) Travis Roffler has left his marketing post with Toyo Tire USA Corp. to join Continental Tire North America (CTNA) as marketing director for replacement passenger tyres. In his new position, Roffler will be responsible for product planning, brand management, pricing, promotion, public relations and advertising. He will report to Andreas Gerstenberger, CTNA vice president of sales and marketing. Most recently, Roffler served as Toyo’s senior director of marketing.

7th March 2006/by Tyrepress Editors

New Offices for Vredestein US

(Akron/Tire Review) Vredestein Tyre North America has moved to larger offices in New Jersey. The company said the previous office space “became too small,” and the larger quarters will give it ample to grow. Vredestein’s new US address is: 13 Bridge St., Metuchen, NJ 08840. Phone and fax numbers remain the same.

6th March 2006/by Tyrepress Editors