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Yokohama 1Q operating income quadruples to 9.3 billion yen

The Yokohama Rubber Co., Ltd., has reported that first quarter net sales (1 January to 31 March) increased 7.4 per cent over the same period of the previous year to 135.3 billion yen. At the same time operating income increased 403.3 per cent, to 9.3 billion yen; and net income increased 389.7 per cent, to 8.8 billion yen. According to the company, the first-quarter sales growth reflected strong gains in OE sales to Japanese OEMs as well as progress in raising prices for tyres and other products.

11th May 2012/by Tyrepress Editors

Double Coin launches mobile website

Double Coin and the China Manufacturers Alliance have launched a new mobile website aimed at North American customers. The site will complement the existing www.doublecoin-us.com and is designed and formatted for optimal viewing on any web-enabled Smartphone, including iPhone, Android, Blackberry and others. Features accessible through the mobile site include product specifications and warranty information, and visitors can use the dealer locator function to access over 1,000 independent Double Coin tyre dealers across North America. The phone’s GPS automatically redirects to the closest dealer based on the user’s current location.

4th May 2012/by Tyrepress Editors

Cooper posts improved Q1 results

Despite higher manufacturing costs in the first quarter of 2012, including costs related to the lockout at its Findlay plant, Cooper Tire & Rubber has announced improved results. The company reports net sales of US$984 million in the first three months of the year, an increase of $82 million, or nine per cent, compared with the first quarter of 2011. Operating profit was $48 million for the quarter, an increase of $16 million from the prior year same quarter. Net income attributable to Cooper Tire & Rubber for the quarter ended 31 March 2012 was $22 million, or $0.34 per share on a diluted basis, compared with $16 million, or 25 cents, for the first quarter of 2011.

3rd May 2012/by Tyrepress Editors

Hankook records double-digit global growth in Q1

Hankook Tire has reported continued sales growth during the first quarter of 2012. Growth was experienced in North American and European markets, and the company said demand for its ultra high performance tyres had rapidly increased during the first three months of the year. Seung-Hwa Suh, vice chairman & global CEO of Hankook Tire said: “Despite continued global economic downturn, we have been able to set global sales growth and operating profit based on consistent tyre quality improvement as well as brand equity enhancement.

1st May 2012/by Tyrepress Editors

TRIB reminds members of their financial obligation

Bob Majewski, president of the US-based Tire Retread & Repair Information Bureau, has reminded all member retreaders of the costs involved in TRIB’s day-to-day operation, and appealed for annual membership dues to be paid – before errant members find themselves out of the loop.

30th April 2012/by Tyrepress Editors

Despite record sales, Goodyear posts a Q1 loss

Sales at Goodyear Tire & Rubber Company during first quarter of 2012 were a record for the period, the US tyre maker claims. Announcing the company’s results for the opening three months of the year, Goodyear chairman and CEO Richard J. Kramer commented “I'm pleased with our results as our businesses posted solid operating income.”Our teams delivered these results in the face of a difficult volume environment and high raw material costs, with a strong focus on price/mix.

27th April 2012/by Tyrepress Editors

Conti looks to Wi-Fi RFID solution to increase output in France

Following positive experiences at its Mt. Vernon, USA plant, Continental has implemented a ‘Work-in-Process’ (WIP) Visibility solution from AeroScout at its tyre plant in Sarreguemines, France. AeroScout, a specialist in enterprise visibility solutions, first supplied the Wi-Fi RFID-enabled solution to Continental Tire the Americas as part of expansion plans for the Mt. Vernon facility; AeroScout says its product helped enable the site achieve a 20 per cent reduction in component tyre losses. Continental anticipates the French project will increase daily output at Sarreguemines by 4,000 units.

26th April 2012/by Tyrepress Editors

Moody’s upgrades Michelin

Moody’s Investor Service has upgraded Compagnie Générale des Etablissements Michelin's long-term credit rating to Baa1 from Baa2, with a stable outlook. Michelin’s P-2 short-term rating remains unchanged.

26th April 2012/by Tyrepress Editors

Michelin sales up, volumes down in Q1

Michelin reports having achieved Group net sales of 5.304 billion euros in the first quarter of 2012, an increase of 5.1 per cent on the same quarter last year. This growth was propelled by a 23.8 per cent rise in net sales in the company’s specialty businesses; sales of earthmover, agricultural, two-wheel and aircraft tyres, along with Michelin Travel Partner and Michelin Lifestyle, amounted to 940 million euros during the quarter. A more modest 2.9 per cent growth in net sales to 2.760 billion was witnessed in Michelin’s passenger car and light truck tyres division, while truck tyre division sales decreased 0.1 per cent year-on-year to 1.604 billion euros.

25th April 2012/by Tyrepress Editors

Goodyear completes FleetHQ conversion in Canada

Goodyear has converted the last bits of its former Truckwise truck tyre programme to the FleetHQ moniker, reports Tire Review. Announced at the recent Truck World event in Toronto, Goodyear rebranded its Canadian fleet tyre and service to FleetHQ. The new Canadian brand will “create a consistent business solutions brand that offers products, services and information tools for trucking fleets and owner/operators throughout North America,” the company said.

23rd April 2012/by Tyrepress Editors

Michelin announces North America recall

Michelin will voluntarily recall more than 77,000 commercial vehicle tyres in North America. In a statement published on the National Highway Traffic Safety Administration’s safercar.gov website, Michelin North America says that it is recalling certain Michelin XZU3 LRJ, size 305/85R22.5, XZU2 LRJ, size 12R22.5, tyres produced between 23 October 2005 and 3 September 2011; and XM505 LRJ, size 305/85R22.5, produced between 18 April 2010 and 8 May 2010, and between 23 January 2011 and 12 February 2011. These tyres, Michelin reports, have a casing that “may experience a loss of integrity and, in some cases, have rapid air loss.”

23rd April 2012/by Tyrepress Editors

Hankook survey shows strong US interest in eco-tyres

According to the results of Hankook Tire America’s “Spring Gauge Index”, 61 per cent of drivers in the US would be interested in buying eco-friendly tyres. The main reason for making such a purchase is the potential fuel savings they’d deliver; Hankook’s study shows that 68 per cent of drivers who’d buy eco tyres gave this reason as their motivating factor.

23rd April 2012/by Tyrepress Editors

Knievel Cycles selects Avon as exclusive tyre supplier

Knievel Motorcycle Manufacturing Inc., the custom motorcycle brand representing the Robert “Evel” Knievel legacy, has selected Avon Motorcycle Tyres North America as its exclusive tyre supplier. “Our engineering and design teams have vast experience in hand-building quality custom-production motorcycles and are well respected in the motorcycle business,” stated Rob Myers, general manager, Knievel Motorcycle Manufacturing.

20th April 2012/by Tyrepress Editors

Cooper Findlay union re-elects leader

After leading his union through a brutal three-month lockout at Cooper Tire & Rubber Co.'s Findlay, Ohio, tyre plant, USW Local 207 president Rod Nelson has been re-elected to his post, Tire Review reports. Nelson received 311 votes from Local 207 membership, according to the Findlay Courier, or nearly 47 per cent of all votes cast. Two opponents for the three-year term received 186 and 167 votes, respectively.

18th April 2012/by Tyrepress Editors

US plantings the latest in Yokohama’s Forever Forest scheme

Yokohama’s Forever Forest programme continued last week with the planting of some 2,500 seedlings at Yokohama Tire Corporation’s Salem factory on 11 April. The latest action means that a total of 6,800 seedlings have been planted at the site as part of the Forever Forest scheme, which aims to plant more than 500,000 trees worldwide by 2017.

16th April 2012/by Tyrepress Editors