North America Archives - Page 156 of 173 - Tyrepress

North America

Posts

Goodyear Shares Lowered to Sell Rating

Deutsche Bank analysts have lowered Goodyear’s share advice rating from hold to sell. The announcement comes in spite of the fact that Goodyear’s shares have performed strongly since mid-October in response to positive news from the industry, stabilisation of market share losses, and increased optimism about a turnaround. However, now that the company’s share price has reached 21 times the analysts’ 2005 estimate, the bank believes the price growth will slow down. According to the analysts, “the bull case is more than fully reflected.”

4th February 2005/by Tyrepress Editors

Michelin Marketing Campaign Wins Award

Michelin North America’s “Michelin Man” ad-campaign won a silver award at the annual Advertising Marketing Effectiveness (AME) Awards. Presented as part of the New York Festivals, the AME Awards are the only global forum recognising the effectiveness as well as the creativity of advertising and marketing. The agency responsible for the campaign, Campbell-Ewald, won a total of six gold, silver and bronze medallions. Amongst them the company took gold for Chevrolet’s “An American Revolution” campaign.

4th February 2005/by Tyrepress Editors

Michelin Opens New Retread Facility and Launches New X One Tyre

Michelin Retread Technologies has announced that it is adding a new press at its Covington, Georgia facility in the US, Trucking News has reported. The new MRT press is designed to produce new high-technology treads and to take advantage of Michelin’s advanced co-extrusion technique, a process where two different rubber compounds are combined to produce cooler casing temperatures, maximising the life of the casing.

2nd February 2005/by Tyrepress Editors

Goodyear Looks Forward to ‘Winning’ in 2005

Jon Rich, president of Goodyear Tire & Rubber’s North American division, is “extremely bullish” about 2005, according to a Tire Review report. “New products are going to be the lifeblood of the new Goodyear,” Mr Rich, told delegates at the company’s annual dealer meeting in Dallas. The theme of this year’s conference is “capture the moment, create the future,” assuring dealers there was more to come.

2nd February 2005/by Tyrepress Editors

Bandag Profits Increase 10 per cent

Bandag Inc experienced a 10 per cent increase in profits during 2004, Tire Review has reported. According to the magazine, Bandag 2004 results also showed a 5 per cent increase in net sales compared to its 2003 figures. During 2004 Bandag recorded sales of $854.2 million, compared with $816.4 million in 2003, and net profits of $66.9 million, compared with $60.2 million in 2003.

1st February 2005/by Tyrepress Editors

Vredestein to Take Amtel to North America?

Amtel’s acquisition of Vredestein Banden might result in the Russian brand’s introduction to the North American market, Marc Luyten, Vredestein Banden’s director of marketing and sales, according to a Modern Tire Dealer Report. Mr Luyten’s suggestion follows the news that Amtel will buy Vredestein and is planning initial public offerings on the London and Moscow stock exchanges.

31st January 2005/by Tyrepress Editors

Bridgestone to Construct Third Plant in Mexico

Bridgestone has announced that it build its third factory in Mexico at a cost of $220 million (£117 million). According to Bridgestone, the factory will be the company’s first automated plant overseas from “initial processing of materials to final inspection of the finished tyres.” The plant will feature Bridgestone’s first installation of its BIRD (Bridgestone Innovative and Rational Development) system.

28th January 2005/by Tyrepress Editors

Michelin Loses 320,000 Tyres in Fire

Michelin North America Inc lost approximately 320,000 tyres because of fire at a South Carolina distribution centre, according to a Tire Business report. The fire was started on 13 January after a tornado (possibly two) lifted the roof off the facility and slammed it back down again. Residents living within half a mile were evacuated.

Michelin reports that the loss of tyres represents only a fraction of 1 per cent of the manufacturer’s unit sales in North America. Michelin added its financial loss is negligible since TNT carried insurance on the building and property, the US trade magazine added.

28th January 2005/by Tyrepress Editors

Smithers Taps Michelin Veteran

Michael Bair, former senior technical and regulatory advisor to the legal department at Michelin North America, has been named senior manager of technical services and sales for Smithers Scientific Services.

In his new role, Mr Bair will be responsible for the development of new tyre business, project management and product analysis. He will focus on business opportunities with various tyre manufacturers, suppliers, government agencies and military organisations, says Smithers in a recent news release.

“Mike has an excellent technical understanding about tyres, their performance characteristics, and proper selection and application,” said Raymond Farmer, Smithers’ vice president and chief operating officer.

24th January 2005/by Tyrepress Editors

Goodyear in Talks with Titan

Goodyear is in discussions about the sale of its agricultural tyre division in North America and sources have reported that Titan would be a potential buyer. It is said that both parties are close to an agreement. As far as Europe is concerned, the management has suggested it is willing to keep this business.

24th January 2005/by Tyrepress Editors

Conti North America Figures Turn ‘Blood Red’

According to sources the North American arm of Continental has suffered further financial losses, with negative figures resting around the hundred million mark (euros).

A North American source claims that the losses would be greater still, if it were not for the support given by the European division of the group.

19th January 2005/by Tyrepress Editors

Continental confident on 2005 outlook

Continental’s president and CEO (North America), Martin de Louw, is “optimistic on 2005’s outlook” reports Deutsche bank. Analysts predict that earnings will benefit from a partial payback from the Mayfield plant closure and the conclusion of restructuring charges attached to it.

The consolidation of Phoenix and a positive impact from selling price increase/raw material price increase of maybe 50 million euros is also expected to benefit the company. “Overall while 2004 was a good year for Tires Co, 2005 could be even better,” say analysts.

14th January 2005/by Tyrepress Editors

‘SUV of the Year’ Rides on Goodyear Tyres

Goodyear welcomed the news that the redesigned 2005 Jeep Grand Cherokee has received yet another accolade for its “versatility and style,” as its tyres will again be fitted on all models of the new vehicle.

The vehicle recently won the title of “2005 SUV of the Year” by ‘Truckin’s SUV,’ an enthusiast magazine. According to the magazine, the Grand Cherokee stood out due to its “refined ride, off-road performance, and high-feature content coupled with notable quality, excellent road manners, and a warm and inviting interior.”

13th January 2005/by Tyrepress Editors

USWA and PACE Plan to Merge

The executive boards of the United Steelworkers of America (USWA) and the Paper, Allied Industrial, Chemical and Energy Workers International Union (PACE) have unanimously voted to merge. According to the USWA the merger of the two organisations will create the largest industrial union in North America, with over 1.25 million active and retired members. The union also reports that it will have over 8,000 bargaining units in the US, Canada and the Caribbean.

The new union will be called the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union. PACE and USWA members will vote on the proposed merger at conventions to be held in April.

12th January 2005/by Tyrepress Editors

Conti Gains Recognition in North America

Continental has gained further recognition in the North American market as OE fitment to the newly declared North American Car of the Year and Truck of the Year, chosen at the North American International Auto Show currently being held in Detroit.

The Chrysler 300/300c and the Ford Escape Hybrid truck were chosen for their “innovation, value, safety, ride and handling,” reports an American news source.

12th January 2005/by Tyrepress Editors