BMW Equips New 6 Series with Bridgestone Runflat Tires in Japan
Bridgestone Corporation announced that it has begun supplying Potenza RE050 runflat tires to BMW for factory installation on 6 Series models sold in Japan.
North America
Bridgestone Corporation announced that it has begun supplying Potenza RE050 runflat tires to BMW for factory installation on 6 Series models sold in Japan.
Greater demand from customers and increased production in lower-cost areas helped raise Continental’s first quarter profits by 48 per cent – far higher than expected. 1Q net income was 129.5 million Euro (1Q 2003: 87.4 million), which was nearly 30 million Euro higher than predicted by industry analysts. Turnover for the period was up slightly too; from 2.82 billion Euros in 1Q last year to 2.99 billion Euros in the first three months of 2004.
David S. Craig has been made Director, Advertising for North America in the latest move in Cooper Tire’s realignment. He joined Cooper in 1993 as a territory sales manager in international sales and served as European marketing manager between 2001-2002. His most recent appointment was as manager, associated brand advertising and communications. He has a bachelor’s degree and is currently working for his MBA.
Marangoni Tread’s factory at Madison, Tennessee has begun producing Ringtread spliceless precure tread rings. The timing is impeccable, as Marangoni’s business in North America continues to grow, with this year so far 50 per cent higher than 2003. The 50,000 square foot factory is part of a $10 million investment by Marangoni in US manufacturing, supplying the 15 Ringtread dealers currently operating in North America.
Michelin’s first quarter results show that the group’s net sales totalled 3.799 billion Euro; up 3.9 per cent on the 1Q 2003 figure of 3.654 billion Euro. If currency fluctuations are factored out, the increase would be nearer 9.5 per cent. In tonnage terms, volumes rose 7.6 per cent over 1Q 2003. Net Sales by Product 1Q 04 were as follows millions of Euros: Car/light truck: 1,842.3. Truck: 995.5. Other businesses: 1,187.6. Inter-sector eliminations: – 226.4. Total: 3,799.0.
Pirelli Tire North America is to increase prices of passenger car and light truck tyres from 1st June. All Pirelli branded tyres will be affected by the increase, which will vary by product offering but will average three per cent. PTNA President and CEO Guy Mannino blamed raw material costs for the increase, but added that they were lower than in other parts of the world because of manufacturing efficiencies made by PTNA.
Industry analysts are cautiously optimistic about prospects for the tyre industry, following good sales in January and February. In Europe, there was year-on-year growth of 8.4 per cent in the passenger car tyre replacement market and in North America, 5 per cent growth. Some of this is down to pre-buying ahead of price increases and the analysts predict an increase in sales for the year of 4 per cent. The European truck tyre replacement market is up 8 per cent. More good news for the manufacturers; price increases seem to be sticking and in the US were up over 5 per cent YOY in February.
American auto supplier, Federal-Mogul, continued to make a loss during the first three months of 2004 but sales figures reveal a turnaround in trading. The company´s first quarter report show increased operating sales of $186 million resulted in net losses of $20 million – down $17 million on the same period in 2003. Federal-Mogul, which continues to undergo financial restructuring after filing for bankruptcy under Chapter 11 in 2001, has attributed the improvements to higher sales of original equipment in both Europe and North America, lower interest payments and favourable exchange rates. Management have also stated that trading figures will not be adversely affected despite a substantial loss of equipment and stock following a fire at the company´s distribution centre in Tennessee. Federal-Mogul currently has one wheel plant, based in Poland, where it produces tyres for a number of German wheel manufacturers.
When it comes to the Boy Racer sector, the American model differs little from his European counterpart – both want a tyre that looks good, performs well but is affordable. To cater for this, Michelin in North America has introduced the BFGoodrich g-Force Sport. It will be available in 21 sizes for wheels up to 18″, although larger wheel sizes are planned.
Titan Europe Plc, previously a wholly-owned subsidiary of Titan International, has been admitted to trading on the AIM market in London. The placing shares have been priced at 125 pence, with 26,775,000 shares offered.
Robert J. Keegan, chairman and chief executive officer of The Goodyear Tire & Rubber Company, has been elected to the board of directors of Sumitomo Rubber Industries Ltd. in Kobe, Japan. Goodyear and Sumitomo Rubber Industries have six joint venture businesses in North America, Europe and Japan. In addition, each company holds common stock in the other.
Michelin Americas Truck Tires and Goodyear Tire & Rubber Company have announced agreements with Pilot Travel Centers LLC, the largest truck stop network in North America, to begin supply Michelin, BFGoodrich and Goodyear truck tyres at its travel centres. Pilot Travel Centers is a leading interstate retailer, operating 264 travel centres coast-to-coast. The company operates its travel centres in 38 states. Goodyear will supply a variety of truck tyres for Pilot’s store network, including the G395 LHS steer tyre. The new Pilot Truck Care Centers will also feature a full line of Michelin and BFGoodrich tyres including the Michelin X One wide single tyre line.
Toyo Tire & Rubber Co Ltd has announced its decision to build a new manufacturing plant in the United States for the production of passenger car and light truck tyres.
Goodyear Tire & Rubber Co.’s largest union has said the company’s plans to make new passenger tyres at a non-union plant may violate the terms of their contract. The United Steelworkers of America said it wants more information from Goodyear about the Assurance tyres being made in Lawton, Oklahoma. USWA claims that the contract, which froze wages in exchange for job security measures, requires that new products developed for sale in North America be made at unionised plants. The dispute could strain Goodyear’s relationship with the USWA, which represents 19,000 workers at 13 U.S. plants.
Bandag, Incorporated acquired an 87.5% majority interest in Speedco, Inc. from its founders and Shell Oil Products US. Bandag, a world leader in truck retread tires and tire management services, will operate Speedco as an independent business unit. Speedco, headquartered in Cayuga, IN, provides quickservice truck lubrication nationwide through 26 company-owned and six licensed on-highway locations.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.