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Bridgestone to expand production of truck and bus tyres

Bridgestone Corporation has announced that it will increase production capacity of truck and bus radials at three plants in Japan, and will double the planned capacity at a plant currently under construction in Thailand. The reason is to cater for continuing growth in global demand for truck and bus tyres.

Production at the three Japanese plants at Amagi, Tochigi and Tokyo will increase to 1,300 tyres per day, thanks to an investment of two billion Yen (US$16.86 million), with expansion work expected to be complete by the end of 2004.

In Thailand, subsidiary company Bridgestone Tire Manufacturing (Thailand) Co. Ltd., has doubled the capacity originally planned for the plant it is building in Chonburi. Construction work began in February this year and the plant will begin production in the second half of 2004, with a daily production of 2,500 tyres. The latest expansion plans will see this increase to 5,000 tyres a day by the end of 2006, and they will cost seven billion Yen ($59 m), bringing the total investment in Chonburi to 24 billion Yen ($202.3 m).

These projects are part of Bridgestone’s on-going, global plans for expanding production capacity in radials for trucks, buses and passenger cars. Car tyre investment will address the shift in demand towards larger sizes and high-performance tyres in the mature markets of North America, Europe and Japan. At the same time, it will cater for growing demand for standard tyres in Asia, the Middle East and Africa.

The Bridgestone group has earmarked around 90 billion Yen for its capital spending programmes by the end of 2006.

4th September 2003/by Tyrepress Editors

Proposed agreement between Goodyear and USWA

After months of protracted negotiations, the Goodyear Tire & Rubber Co. and the United Steel Workers of America (USWA) arrived at a draft agreement for a new labour contract, designed to last three years and covering 16,000 Goodyear associates in the USA.

2nd September 2003/by Tyrepress Editors

Pirelli To Raise Prices In North America

From October 1st, Pirelli Tire North America is to increase passenger car and light truck tyre prices. The price increase is prompted by rising raw material costs and will vary by product offering, reaching a maximum of four per cent.

1st September 2003/by Tyrepress Editors

Continental OE on new Chrysler Crossfire

Continental Tire North America, Inc. has announced that it will supply the all-season tyres for the Chrysler Crossfire, the high-performance coupe that debuts with the 2004 model year. The Crossfire will be equipped with Continental ContiTouringContact CW95 tyres. “The Chrysler Crossfire is a high-performance vehicle, and a critical part of fulfilling that product promise is using tyres that help improve safety and enhance the driving experience,” said Andreas Gerstenberger, vice president of CTNA’s original equipment business.

28th August 2003/by Tyrepress Editors

USWA to get seat on Goodyear board

In a groundbreaking move at Goodyear the company has agreed to giving the United Steelworkers of America a seat on the board of directors. In return, the union members will give up raises for three years, pay more for health care and accept smaller pensions. Those are key points in a contract agreement reached last week by the company and the United Steelworkers of America. Union members will vote on the contract by mid-September.

28th August 2003/by Tyrepress Editors

Bad Winter Forecast In USA

If early-season prognostications from the US National Weather Service ring true, American motorists may be in for an extra-snowy winter in many parts of the country. Goodyear officials say they’re ready for an early snowfall. Goodyear’s family of Ultra Grip winter tyres offers motorists a range of choices for seasonal tyres. The Eagle Ultra Grip GW-3 features Goodyear’s innovative V-TRED technology, which aids in dispersing water and slush from the tread. The new 3D-BIS technology provides high tread blade density and additional biting edges while maintaining block stiffness. This translates into increased grip in snow and ice, but with controlled wet and dry steering stability. A rim flange protector helps to protect expensive custom wheels from potential kerb and pothole damage during the winter. The Eagle Ultra Grip GW-3 is available in North America in 21 sizes, ranging from 15- to 18-inch rim diameters, and in aspect ratios from 65 to 35.

14th August 2003/by Tyrepress Editors

Continental Results Exceed Expectations

Continental’s 2Q results have exceeded the forecasts of industry experts.
Compared with 2Q 2002, turnover was down 3.4 per cent to 2.825 billion Euro
(2.925 bn), but operating income rose 11.3 per cent to 216 million Euro
(194 m). The group’s operating margin was 7.6 per cent and, while the car
tyre and truck tyre divisions were slightly below this (6.7 and 7.4 per
cent). ContiTech and Continental Automotive Systems achieved 8.5 and 9.0
peer cent respectively. Conti’s CFO Dr. Hippe was cautious about the
second half of the year, although he said that annual operating profits
could “considerably exceed” the stated target of 700 million Euro.

6th August 2003/by Tyrepress Editors

Michelin’s First Half Figures – A Mixed Bag

Michelin has released financial figures for the first half of the year. Sales were down 6 per cent to 7.348 billion Euro, but excluding currency effects, this would be a rise of 4.4 per cent. Operating profit rose one per cent to 578 million Euro and net income was 165 million Euro; below what was expected, but this was almost entirely due to charges of 178 million Euro for restructuring in Spain. Truck tyre sales were better than expected, while car tyre revenues were worse. Michelin’s debt increased by 0.1 billion Euro to 3.9 billion, due largely to the acquisition of the Viborg chain.

1st August 2003/by Tyrepress Editors

Q2 Net Loss For Goodyear, But Sales Rise

Goodyear’s second quarter (Q2) figures reveal that the company lost $73.6 million, compared to a net income in Q2 last year of $28.9 m. Sales were up nearly 8 per cent at $3.8 billion (3.5 bn), but volumes were down half a million units to 52.8 million pieces. Chairman and CEO Robert J. Keegan described the results as „disappointing“, but said he was encouraged by the „numerous positive trends„ (notably operations outside North America) and he was „optimistic“ about the turnaround plans.

1st August 2003/by Tyrepress Editors

Trelleborg Group Buys PSS

The Trelleborg Group has signed an agreement with Smiths Group Plc of the UK to acquire its operations in polymer-based precision seals (Polymer Sealing Solutions – PSS). PSS has annual sales of approximately SEK 5.5 billion (599.37 million Euro) and some 6,000 employees, mainly in Europe and North America. Following the acquisition, the annual sales of the Trelleborg Group are expected to total SEK 22.5 billion (2.45 bn Euro), with approximately 21,000 employees in some 40 countries. The acquired operations will form a new business area within the Trelleborg Group.

29th July 2003/by Tyrepress Editors

Trelleborg Wheel Systems – First Half Year Results

Figures show that Trelleborg Wheel Systems achieved sales for the first half of the year of 1,470 million Swedish Kroner (SEK), or 160.2 million Euro. Operating profit was up 33 per cent to SEK 84 million (9.15 m Euro), compared with last year’s first half figure of SEK 63 million (6.87 m Euro). During the second quarter, turnover was SEK 713 million (77.7 m Euro) and operating profit was SEK 39 million (4.25 m Euro).

29th July 2003/by Tyrepress Editors

Bandag Second Quarter Results

Bandag, Incorporated has reported consolidated net income of $8.7 million, or $0.45 per diluted share for second quarter 2003, compared to second quarter 2002 consolidated net income of $11.7 million, or $0.57 per diluted share, a decrease of 26% and 21% for consolidated net income and diluted earnings per share, respectively. Second quarter 2003 results were reduced by approximately $2.2 million due to net foreign exchange losses. Second quarter 2003 results were also reduced by approximately $1.5 million in net charges related to Bandag’s distribution subsidiary, Tire Distribution Systems, Inc. (TDS), for store divestitures and a real estate impairment charge. Consolidated net sales for second quarter 2003 were $204.1 million, a decline of approximately 12%, compared to consolidated net sales of $231.1 million in the prior year period.

21st July 2003/by Tyrepress Editors

Cooper Q2 Results

Cooper Tire & Rubber Company has reported results for the second quarter of the year. Net income was $13 million, compared with the all-time record earnings of $39 m for Q2 last year. Turnover was up slightly at $840 m ($836 m) and operating profit was $38 m. The Tire Group reported turnover up 4 per cent to $432 m ($414 m) while operating profit declined to $14 m from $37 m in Q2 2002. The high cost of raw materials was blamed. Overall, unit sales of Cooper brand tyres rose 8 per cent in the quarter.

21st July 2003/by Tyrepress Editors

Car Manufacturers Urging Suppliers To Head East

In North America, Ford and GM are encouraging their suppliers to produce more parts in China, not only to support locally-made vehicles, but to enable them to match a “world price”, based on a Chinese price. The companies offer a deal where, if a supplier builds a factory in China, it can sell to Ford and GM factories in North America. GM Europe denied that it was pressurising suppliers to re-locate, although if a supplier asked GM how he could cut costs, he might be advised to move to China or Korea.

1st July 2003/by Tyrepress Editors

America’s Top 50 Automotive Suppliers

OE manufacturer readers of the magazine “Automotive Industries” have voted for their top suppliers. More than 1,000 replied and a list of the “Ai Fab Fifty” has been compiled. Tyre manufacturers in the list are Bridgestone/Firestone Inc., Goodyear and Michelin North America Inc. Other companies which will be familiar to our readers include Continental Teves, Hayes Lemmerz and ArvinMeritor Inc. Of the companies mentioned, ArvinMeritor was the only one to make the top ten list.

27th June 2003/by Tyrepress Editors