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TIA president meets with Obama Commission members

On May 18, Tire Industry Association executive vice-president Roy Littlefield met with members of US President Obama’s National Commission on Fiscal Responsibility and Reform. The Commission is charged with identifying policies to improve the United States’ fiscal situation in the medium term and to achieve fiscal sustainability over the long run; according to the TIA, Littlefield was invited to meet Commission members to discuss economic policy, the US budget deficit and economic outlook, how public policy drives the deficit, and how budget cuts will impact future policy.

25th May 2011/by Tyrepress Editors

June 1 price rise for Toyo’s US market consumer tyres

Dealer base prices for Toyo passenger car and light truck tyres will increase by an average of eight per cent in the US on June 1. Announcing the price revision, Toyo Tire USA senior director of sales John Hagan stated “Toyo Tires is committed to providing excellent product quality while keeping prices to a minimum; however the continued increases in raw material costs make it necessary for us to raise our prices at this time.”

25th May 2011/by Tyrepress Editors

Expanded US Conti test site provides increased tyre testing options

Continental Tire The Americas has inaugurated a new wet and dry test surface at its providing ground in Uvalde, Texas. Work on the US$3.5 million Vehicle Dynamics Area began last September and construction work involved transporting more than 88,000 tonnes of material and over 700 truckloads of rock to the site; the end result is a 640,000 square foot (60,000 square metre) area that provides several test options to simulate real-world driving sceneries, safely allowing for tyre and vehicle stability tests at the “limit.” The track surface is intended to reflect the average asphalt surfaces motorists encounter while simultaneously allowing a high degree of differentiation between different tyres. The irrigation system installed for wet testing uniformly distributes water across the surface’s entire width and is adjustable from 1.3 to 2.8mm.

23rd May 2011/by Tyrepress Editors

Titan 2011 sales, earnings outlook revised

As he prepares for a conference call on May 23 to discuss his company’s first quarter 2011 results, Titan International chairman and CEO Morry Taylor, offered a revised outlook for the remainder of the year.

20th May 2011/by Tyrepress Editors

Confident but not cocky – Yokohama Tire unveils new corporate icon

Yokohama Tire has updated its website and introduced the world to Shin – the tyre maker’s new corporate icon. The red persona, who resembles a tyre handling robot, is a prominent feature on the revised yokohamatire.com website.

20th May 2011/by Tyrepress Editors

Toyo officially exits GTY Tire JV

In January the three partners in the GTY Tire Co. joint venture – Toyo, Continental, and Yokohama – reached a settlement regarding Toyo’s dismissal from the from the truck tyre joint venture the previous year, a move linked to its “business and capital alliance” partnership with Bridgestone Corporation. A year on and Toyo is again out, and this time permanently. The business structure of GTY Tire has been altered and Toyo’s 16 per cent share in the joint venture has been divvied up by the two remaining parties. Continental now holds a 59 per cent stake in the joint venture and Yokohama 41 per cent. As part of Toyo’s exit agreement, the tyre maker has the option of purchasing tyres produced at Continental's Mt. Vernon, Illinois factory – where GTY tyres were manufactured – for the coming year. The name of the now two-party venture has not yet been made public.

20th May 2011/by Tyrepress Editors

Hankook Tire America confirms warehouse shift

Hankook Tire America has confirmed it is opening a new warehouse in New Jersey, a 400,000-square-foot (37,000 square metre) facility in Dayton that will replace its current Edison centre in the same state. US industry publication Tire Review first reported on the new warehouse last week after real estate company CoStar Group announced the deal to local media. Hankook said the new warehouse can handle some 610,000 passenger, light truck/SUV and medium truck tyres, a 70 per cent capacity increase over its older location. The new warehouse is scheduled to open later this year.

19th May 2011/by Tyrepress Editors

American launch for Conti HSC1, HDC1

North American customers were recently introduced to Continental’s HSC1 and HDC1 steer and drive construction tyres; billed by Continental Tires the Americas (CTA) as its ‘next generation’ of construction tyres, the new products replace the original HSC and HDC in this region. In mid-May the range was presented to fleet customers, dealers and media at CTA’s 2,000 hectare proving grounds in Uvalde, Texas.

19th May 2011/by Tyrepress Editors

Yokohama Tire expands baseball sponsorship with Phillies deal

Yokohama Tire Corporation has added a second Major League Baseball team to its US sport sponsorship portfolio after signing an agreement with the Philadelphia Phillies. Included in the Phillies sponsorship deal is Yokohama signage in strategic positions, such as behind the home plate and on the first and third base lines, pre-game, post-game and in-game spots on the Phillies flagship radio station throughout the season, in-stadium displays and in-game announcements on the public address system and LED scoreboard.

17th May 2011/by Tyrepress Editors

Increased capacity and 444 new jobs – Conti confirms US plant investment

In response to growing demand for Continental and General Tire brand passenger car and van tyres in Northern and South America, Continental Tire the Americas (CTA) has announced plans to invest US$224 million increasing capacity at its Mt. Vernon, Illinois factory. Following the recent signing of various contracts by Illinois Governor Pat Quinn, details of the investment were unveiled at a press conference at the plant on May 12; a key announcement was the creation of 444 new full-time positions over the coming four years.

13th May 2011/by Tyrepress Editors

‘Ambitious growth strategy’ paying off as Lanxess profits jump 60% in Q1

The year has started well for Lanxess. After achieving what it calls its “best-ever quarterly result in the first quarter,” the German specialty chemical company says it is on track to achieve EBITA pre-exceptionals in excess of one billion euros in 2011; during the first quarter its EBITA pre-exceptionals rose 38 per cent year-on-year to 322 million euros, with double-digit growth recorded in all its segments and regions. The company’s sales increased 29 per cent year-on-year in the three months to March 31, 2011 due to higher volumes and price increases that helped offset rising raw material costs. EBITDA margin pre exceptionals rose to 15.5 per cent in the first quarter from 14.4 per cent a year earlier and net profit increased 60 per cent year-on-year to 166 million euros.

12th May 2011/by Tyrepress Editors

Tire Factory acquires Nokian US wholesale facility

As of May 23 the wholesale operations run by Nokian Tyres in the US city of Denver, Colorado will be taken over by Tire Factory, a group of independent tyre dealers that operate more than 200 locations in 15 states. The Meadow Creek facility in Denver will joint Tire Factory distribution centres operating in Portland, Oregon and Salt Lake City, Utah.

12th May 2011/by Tyrepress Editors

FY2010 sales stable, profits down at Toyo

Despite a slight increase in net sales and a significant jump in operating income, during the financial year ending March 31, 2011 Toyo Tire & Rubber reported a net income significantly lower than in the previous 12-month period; its net income of 521 million yen (£3.9 million) was 2,436 million yen or 82.4 per cent lower than a year earlier. During the year net sales increased 2.2 per cent to 294,092 million yen (£2.2 billion) and operating income was up 40.6 per cent to 12,182 million yen (£92.4 million). Annual ordinary income amounted to 9,193 million yen (£69.7 million) and was 2.4 per cent higher than in the previous year.

11th May 2011/by Tyrepress Editors

Rising demand prompts Michelin US factory expansion

A further US$200 million is being invested in Michelin North America’s factory in Lexington, South Carolina in order to accommodate growing regional demand for passenger tyres. Work on expanding capacity at the Lexington site will begin immediately and equipment for this latest project, which adds to the more than $1 billion invested in the site since its establishment in 1981, will be installed by the first half of 2013. Michelin North America reports that 270 new jobs will be created at the Lexington factory and phased in over the coming two years.

10th May 2011/by Tyrepress Editors

Conti signs North American deal with TravelCenters

Continental Tire the Americas has entered into a multi-year agreement covering the sale of Continental brand commercial tyres at TravelCenters of America (TA) and Petro Stopping Center sites throughout the US and Canada. This deal gives Continental access to 220 replacement tyre point of sale locations and truck maintenance centres. In addition, through TravelCenters of America's RoadSquad programme, emergency replacement tyres are available 24/7/365 from over 400 roadside assistance vehicles.

9th May 2011/by Tyrepress Editors