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Michelin to Close Kitchener Plant

Michelin North America (MNA) has announced that it will close its Kitchener, Ontario, tyre plant in July with the loss 1100 jobs. Michelin cited overcapacity in its broadline products as the reason for the closure.

The news comes six months after the manufacturer closed its Poitiers, France, plant with the loss of 500 jobs and is believed to be part of a global cost-cutting programme. “We believe that Michelin will accelerate restructuring measures in coming quarters, using the opportunity of the progressive attrition of one third of their workforce (or 25,000 people) in Western Europe and North America in coming years,” Deutsche Banks analysts said in a report shortly after the news broke.

2nd February 2006/by Tyrepress Editors

MNA Expansion Plan May Not Get Government Aid

(Akron/Tire Review) As Michelin North America (MNA) prepares to pour $80 million into expanding truck tyre production at its Waterville, Nova Scotia, plant, the recent national elections in Canada threaten to derail the plan, according to reports by CBC.

As part of the expansion deal, the Liberal Party-led Nova Scotia government committed to giving MNA some $9.4 million in interest free loans. With the Conservative Party now in control, there are questions whether the loan offer will be met.

1st February 2006/by Tyrepress Editors

Kumho Joins RubberNetwork

Philip J Ringo, chairman and CEO of RubberNetwork LLC, named Kumho Tire as the 10th member-owner of the global Tire and Rubber Industry Consortium. “We welcome Kumho Tire to RubberNetwork. They join nine of the Industry’s largest and most successful companies, Continental Tire, Cooper Tire & Rubber, Goodyear, Hankook, Michelin, Pirelli Tire, Sumitomo Rubber, Toyo Tire and Rubber and Yokohama Rubber Co. Ltd. in what we believe is the most successful industry consortium. The addition of Kumho is both a validation of their stature in the Industry and the wisdom of RubberNetwork’s founders in forming the Company in 2000” Ringo said.

1st February 2006/by Tyrepress Editors

Marco Molinari Becomes Executive Vice President, HNI Corporation

Marco V Molinari has been appointed executive vice president, HNI Corporation. Mr Molinari will continue as President, HNI International, responsible for international business, including HNI International, HNI Asia and the announced the acquisition of Lamex. Mr Molinari is responsible for driving aggressive profitable growth outside of the United States and Canada and will report to Stan Askren, chairman, president and CEO.

31st January 2006/by Tyrepress Editors

Goodyear to Announce Record Sales, Analysts Say Sell

Goodyear Tire & Rubber Company says it anticipates record sales of almost $20 billion (£11.27 billion) for 2005, with more than $4.9 billion for the fourth quarter. Despite this market analysts, Deutsche Bank, have downgraded their stock rating for the company to “sell.” In addition to record sales, segment operating income is expected to be up between 20 and 25 per cent from 2004.

The manufacturer says it expects fourth quarter segment operating income “to approximate the $238 million achieved in the prior year period.” After deducting $20 million in corporate and general expenses Deutsche Bank estimates consolidated EBIT will come in at “roughly $218 million, well below their $283 million estimate.”

31st January 2006/by Tyrepress Editors

Denman Moves in On CTNA’s Bryan OTR Plant

Pensler Capital Corp, owner of Denman Tire Corp, has signed a letter of intent to purchase Continental Tire North America’s (CTNA) OTR tyre plant in Bryan, Ohio for an estimated $75 – $80 million. The Dortmund-based Roesler Group has now backed away from the deal, despite initial interest and negotiations with CTNA and the local trade union, after being outbid by Pensler Capital. The letter of intent was reportedly signed on 16 January.

“I am a little bit amused,” Roesler Group managing director, Paul Roesler Jr told Tyres & Accessories adding: “We are pleased we are no longer first in line.” In spite of his upbeat interpretation of the situation, Roesler had to concede that the other suitor simply outbid Roesler in the race to buy Continental’s Bryan facility.

27th January 2006/by Tyrepress Editors

TIA Appoints Chairman of State Executive Directors

(Akron/Tire Review) The Tire Industry Association (TIA) announced that John Buettner, executive director for the Indiana/Illinois Tire Dealers Association, was elected chairman of the TIA state executive directors for 2006.

17th January 2006/by Tyrepress Editors

CTNA Plans Capital for Mt Vernon, Wants Wage Cuts

(Akron/Tire Review) Just days after announcing significant cutbacks at its Charlotte, NC, tyre plant, Continental Tire North America (CTNA) said it planned a $60 million to $70 million capital improvement effort at its Mt Vernon, Illinois, passenger and truck tyre facility.

17th January 2006/by Tyrepress Editors

CTNA Announces Serious Charlotte Cuts

(Akron/Tire Review) Continental Tire North America (CTNA) announced today that it will significantly cut production and lay off employees at its hometown Charlotte, North Carolina., passenger tyre plant. The cuts will come in two phases, said CTNA, with the first taking place on 15 March, resulting in 241 salaried and hourly jobs lost, and the second on 30 June when another 272 jobs will be cut. In total, 513 workers will be laid off, said CTNA.

10th January 2006/by Tyrepress Editors

Goodyear to Supply YRC Regional Transportation Trucks

Goodyear Tire & Rubber Company will manage a supply arrangement with YRC Worldwide Inc, providing commercial tyres to some of its operating companies within YRC Regional Transportation.

10th January 2006/by Tyrepress Editors

Minor Fire at Conti’s Charlotte Plant

Continental Tire North America’s Charlotte plant suffered a minor fire yesterday. According to the Charlotte Observer, the fire was reported at 7:20 pm and was said to have started in the plant’s Dust Collector System. Local firefighters are said to have made short work of the blaze, with work resuming shortly after the fire was put out.

6th January 2006/by Tyrepress Editors

Michelin Sues Dynamic, Sherkin Over Copyright Infringement

(Akron/Tire Review) Michelin North America (MNA) has filed a copyright infringement suit against Dynamic Tire Cor. and its president, Robert Sherkin, in the US District Court for the Northern District of New York.

At the same time, MNA’s Canadian unit filed suit against Dynamic, which is based in Toronto, and Sherkin alleging infringement of two Canadian Industrial Designs by Dynamic’s distribution of Triangle TR696 and Triangle TR689 tyres. Michelin also seeks an injunction to halt distribution of these tires along with an award of damages and costs.

4th January 2006/by Tyrepress Editors

Michelin OTR Plant Expansion Adds Presses

(Akron/Tire Review) The $85 million expansion program Michelin North America (MNA) announced for its Lexington, South Carolina, OTR plant will see the addition of at least eight new curing presses. And the company said that it could increase capacity further on available land at the plant site.

16th December 2005/by Tyrepress Editors

Michelin Boosts OTR Production in Lexington Plant

(Akron/Tire Review) Michelin North America (MNA) has confirmed reports that it plans to invest $85 million over the next five years at its OTR tyre production facility in Lexington, South Carolina, increasing production by nearly 50 per cent.

15th December 2005/by Tyrepress Editors

GPX International

GPX International Tire Corporation has announced that Donna Lynn DiSpirito has joined the company as the new director of quality. As an ASQ certified quality manager, certified six sigma black belt, senior examiner for the MA quality award, and a lead auditor for both ISO 9001 and TS 16949, Ms DiSpirito has extensive experience in integrating quality practices with production demands within a broad range of industries.

14th December 2005/by Tyrepress Editors