North America
Cooper Tire & Rubber Co. continued its strong 2010, posting a 27 per cent increase in sales for the second quarter and a $57 million improvement in net income for the period, reports Tire Review. Cooper posted second quarter sales of $804 million. Net income for the period came in at $44 million, up $57 million versus the same period in 2009.
During the first quarter of the 2010 financial year, Toyo Rubber received net sales of 72,162 million yen (£528.2 million), a 15.7 per cent increase on the same period last year. This increase in sales was matched by a 13 per cent increase in global tyre sales by volume, with a total of 43,700 tonnes of tyres produced in the three months to June 30, 2010. The bulk of this, 37,500 tonnes, was destined for the Japanese market. Operating income for the quarter was 2,612 million yen (£19.1 million), compared with an operating loss of 3,054 million yen a year earlier, and net income amounted to 743 million yen (£5.4 million) compared with a net loss of 2,620 million yen in the same period of 2009.
Net sales at Nokian Tyres rose 36.3 per cent year-on-year during the second quarter of 2010 to 260.4 million euros, giving the Finnish tyre maker total net sales of 444.2 million euros in the current financial year – an increase of 28.1 per cent over the first half of 2009. Operating profit for the quarter was 60.9 million euros, a year-on-year growth of 200 per cent, while operating profit for the first half stood at 82.0 million euros, up 369 per cent on the corresponding period of last year. Second quarter net profit amounted to 52.6 million euros, a growth of 342 per cent on the 11.9 million euro profit in quarter two of 2009. Profits for the first two quarters total 72.6 million euros, an impressive 4,740 per cent increase on the 1.5 million euro profit reached in the first half of the 2009 fiscal year.
As Tyres & Accessories has reported on its tyrepress.com website, Michelin has recently secured a number of aircraft tyre supply deals. The French manufacturer was named the sole tire supplier for the Bombardier CSeries family and was chosen by Air France and KLM to equip their commercial aircraft. It has also been selected by Turkish Airlines, as well as by Russia’s Sukhoi to supply original equipment tyres exclusively for its SSJ100 Regional Jet. In addition, Michelin has been awarded an exclusive contract to provide original equipment tyres for the Gulfstream IAI G250, due to be launched in late 2010, and its tyres are in the process of being certified by Embraer for its E-170/175 family of airliners.
Toyo Tire & Rubber Co., Ltd., has reported that it has returned to first quarter profitability with an operating income of 2,612 million yen compared with an operating loss of 3,054 million yen in the first quarter of 2009. Net income faired less well but showed the company returned to the black by this measurement too, with 743 million yen in the first quarter of 2010 compared with a net loss of 2,620 million yen for the same period in 2009. Period net sales totalled 72,162 million yen, up 9,789 million yen or 15.7 per cent over the first quarter of 2009. The tyre business unit posted net sales of 53,097 million yen and operating income of 1,995 million yen.
South China Tyre and Rubber Company travels to Brityrex with the mission of continuing its expansion into the international market with its two brands, Wanli and Sunny. Established in 1988, SCTR is located in China’s Pearl River Delta, owning two Guangzhou facilities, which are able to offer a production capacity of approximately 10 million sets of tyres annually.
According to company president and chief executive officer Richard J. Kramer, Goodyear “pulled the right levers” during the economic downturn and is thus well positioned for growth opportunities presented by the recovery. “During the second quarter, we achieved significant progress across all our businesses, driven by a combination of sales growth and cost actions,” said Kramer during a conference call on July 29. “Versus the comparable prior year period, sales were up 15 per cent, units up 10 per cent and segment operating income was $219 million, an improvement of more than $190 million from the second quarter 2009.”
Yokohama Rubber Co., Ltd., has posted net income of 1.6 billion yen (£11.775 million; 14.160 million euros; US$18.455 million) in the first quarter compared with a net loss of 1.8 billion yen in the same period of the previous fiscal year. That result is for the three months from April to June, the first quarter of the company’s fiscal 2011 (1 April 2010 to 31 March 2011). Yokohama's net sales climbed 23.4 per cent over the same quarter of the previous fiscal year, to 117.4 billion yen.
Goodyear has experienced a reasonable second quarter of this financial year in the Europe, Middle East and Africa segment, where second quarter sales increased 5 per cent to $1.5 billion. This was primarily due to a 6 per cent increase in tyre unit volume and strong price/mix performance, according to the company. In worldwide results, the company’s sales were $4.5 billion, up 15 per cent from 2009. Second quarter sales reflect the $304 million impact of a 10 per cent increase in tyre unit volume in response to improved global demand.
Figures released by Pirelli and Michelin show growth in on-road tyre markets across all global regions during June 2010. The Italian and French tyre makers respectively estimated growth in Europe’s OE passenger car tyre market to be nine per cent and 8.9 per cent during the month, with year to date growth in this segment given as 22 per cent and 25.2 per cent. For the European replacement segment, Pirelli and Michelin report June market growth to have been 11 per cent and 9.8 per cent respectively, with year to date growth figures exactly the same for both companies. Within Europe the OE truck tyre market is estimated by Pirelli to have grown 69 per cent year-on-year in June, while Michelin logs a 74.7 per cent growth for the month. Year to date growth is given as 30 per cent and 28.7 per cent. According to Pirelli European replacement market truck tyre sales grew 20 per cent in June, with Michelin providing a very similar figure of 19.7 per cent. Year to date, Pirelli and Michelin estimate growth in this segment to be 27 per cent and 28.7 per cent respectively.
The construction of Bridgestone Americas’ new $100 million Akron Technical Center is progressing as planned, with a targeted finish date of 1 January, 2012, reports Tire Review.
Weaving through the almost 3,500 square miles (9,000 square kilometres) of Yellowstone National Park are more than 460 miles of roads. Each year these roads are used by some 1.1 million vehicles carrying around three million visitors. And while grizzly bears, wolves and elk are not generally a tyre maker’s area of expertise, Michelin believes it can help make a difference when it comes to the beasts that roam the park’s tarmaced areas. To do so, it serves as the official tyre of the Yellowstone Park Foundation and has announced it is helping the park achieve its goal to reduce the greenhouse gas emissions within Yellowstone by 30 per cent within the next five years by providing its energy-saving tyres for the park fleet.
Two men were arrested for stealing some $100,000 of tyres from the Pirelli Tire North America plant in Rome, Georgia, reports Tire Review. The pair were charged after a county police sting operation caught them taking some 150 tyres out of trucks at the plant site and attempted to sell them to officers.
Visitors to the Dallas Cowboy’s recently completed 280,000 square metre Cowboys Stadium will bask in Yokohama Tire’s corporate presence following the signing of a one-year sponsorship agreement between the club and tyre maker. The deal includes stadium, pre-game, post-game and in-game spots on the team’s flagship radio station; in-stadium displays and in-game announcements on the public address system and on LED boards. Yokohama Tire Corporation will also be able to take advantage of hospitality opportunities at select games, and the tyre maker will partner with the team on its travelling Dallas Cowboy Museum Tour truck, which goes to more than 100 events per year.
Consumers in the US are being treated to the third offering in Michelin’s “The Right Tire Changes Everything” global advertising campaign. This latest instalment focuses on the importance of long-wearing tyres. As usual, the advertisements feature Bibendum the Michelin Man; this time, Bib appears in an animated world where the inhabitants face the challenges brought on by failing to use Michelin tyres. This US campaign centres on Michelin’s HydroEdge range.
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