North America
A jury in the US state of Georgia has ordered Michelin North America to pay $16.5 million in a tyre blowout case that killed a 50-year-old Bhutanese immigrant in 2011, reports Tire Review. The man was killed when the rear tyre allegedly suffered a sudden failure, causing the large van to lose control and flip over on I-75 near Macon, Georgia. Two people were killed and 12 more were injured in the single-vehicle accident.
In the USA Goodyear has been named a Top 100 Military Friendly Employer by GI Jobs magazine for the second consecutive year. The listing, drawn from a long list of more than 5,000 companies, recognises the company’s efforts to hire and support veteran employees, with companies selected based on the results of a data-driven survey on veteran-related programs and policies.
Yokohama Rubber reports record sales and earnings in the first three quarters of 2013. Net sales increased 4.9 per cent over the same period of the previous year to 412.4 billion yen (£2.6 billion), operating income increased 13.8 per cent to 29.9 billion yen (£188.3 million) and net income increased 12.3 per cent to 19.6 billion yen (£123.5 million). The three totals were the highest ever in the nine-month period between January and September, although the company does point out that prior to shifting to calendar-year accounting in 2011 the same nine-month period corresponded to the fourth, first, and second quarters of the financial year.
Falken Tire has signed up as a partner to the series formed by the merger of the American Le Mans Series and Rolex Sports Car Series and announced earlier this year. Company officials signed the two-year deal with those from the International Motor Sports Association (IMSA) – which sanctions the new Tudor United SportsCar Championship – at the SEMA show in the US on 6 November. In addition to being a partner of IMSA and the Tudor Championship, Falken will serve as a tyre supplier for the open-supply GT Le Mans (GTLM) class, one of four classes included in the championship.
At yesterday’s presentation of its 2013-2017 Industrial Plan in London, Pirelli & C. SpA highlighted its performance since the presentation of its previous Industrial Plan in 2011 (which covered 2011-2015) and stated its aims for the current period. The event followed the release of the company’s third quarter figures on 5 November. The headline figures for the third quarter are net sales of €1.52 billion (down 2.19 per cent year-on-year, operating income of €201.0 million (up 2.87 per cent), EBIT margin of 13.2 per cent (12.6 per cent in Q2 2012) and net income up 27.36 per cent to €108.0 million.
North America’s greatest automotive products show gets underway today, and tyre makers are making sure the anticipated 60,000 plus visitors know about their latest developments.
Miami-based US tyre wholesaler Tire Group International reports that it was granted ‘Foreign Trade Zone (FTZ) 281-4’ status on 9 September. This designation will give TGI the ability to defer, reduce and even eliminate customs duties on products brought into its US distribution centre for re-export.
During the third quarter of 2013, net sales at Nexen Tire Corporation declined 2.9 per cent to KRW 438.5 billion (£253.9 million), the company reports. Gross profit rose 3.6 per cent compared with a year earlier to KRW 124.7 billion (£72.2 million) while operating profit was 12.1 per cent down at KRW 46.3 billion (£26.8 million). EBITDA was 3.1 per cent lower at KRW 71.9 billion (£41.6 million), with the margin stable at 16.4 per cent.
Yokohama Rubber’s North America division, Yokohama Tire Corporation, has announced two new executive appointments: Naoki “Nick” Takeda, executive vice president and chief financial officer; and Taketoshi Morita, vice-president, OE business.
The U.S. Ski and Snowboard Association (USSA) has selected Goodyear as ‘official tyre’ of the U.S. Ski Team, U.S. Snowboarding and U.S. Freeskiing. Gary Melliere, general manager of Sponsorships at Goodyear North America, describes the partnership between the teams and the tyre maker as “a natural fit for the Goodyear brand and its superior performing tyres”.
Upon announcing its third quarter 2013 results, Nokian Tyres points out that although its group sales decreased 3.0 per cent year-on-year to €357.0 million in the three months to 30 September, the company’s profitability remained strong and it improved market share. Operating profit rose 11.9 per cent to €95.7 million and profit for the period amounted to €70.9 million. Earnings per share were up €0.08 to €0.53.
Goodyear Tire & Rubber chairman and chief executive officer Richard J. Kramer says the company’s third quarter results “demonstrate continued sustainable earnings growth and the type of disciplined execution needed to deliver on our targets in 2013 and beyond.”
Lobbyists are par for the course in US politics, and Goodyear’s senior registered lobbyist Isabel Jasinowski will retire in February 2014. The company has named her successor as head of its Washington, D.C. office as Brian Riley.
It’s as old as the pneumatic tyre itself – this year, Continental Tire the Americas’ Aldora Mills tyre cord plant in Barnesville, Georgia celebrates 125 years in operation. The facility began life as a cotton mill in 1888 and began producing tyre cord around 1920. Today the 82,500 square metre plant produces around 16 thousand tonnes of tyre cord fabric a year for use in the manufacture of passenger car and light commercial vehicle tyres.
The ‘REDI-Sensor’ tyre pressure monitoring system marketed under Continental’s VDO brand has been sold in North America for the last three years, and the automotive supplier claims the product has enjoyed great success there. Now, with EU Regulation 523/2012 coming into effect in little over one year from now, the company is rolling out REDI-Sensor here in Europe. The multi-application TPMS sensor will be introduced into the European market in summer 2014.
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