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Goodyear “On the Right Path” in Second Quarter

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.”

2nd August 2010/by Tyrepress Editors

Yokohama Rubber Reports First Quarter Net Income of 1.6 billion yen

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.

30th July 2010/by Tyrepress Editors

Reasonable First Half Growth for Goodyear in EMEA, North America

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.

30th July 2010/by Tyrepress Editors

June Growth Boosts Year to Date Global Market Figures

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.

30th July 2010/by Tyrepress Editors

Bridgestone’s Akron Tech Center on Track

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.

29th July 2010/by Tyrepress Editors

Michelin Helping Yellowstone Park Reach 30% Carbon Reduction Goal

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.

29th July 2010/by Tyrepress Editors

Pair Arrested in Tire Theft Sting at Pirelli Plant

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.

28th July 2010/by Tyrepress Editors

Yokohama adds Cowboys to Sponsorship Corral

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.

27th July 2010/by Tyrepress Editors

Third Stage of Michelin ‘Right Tire’ Campaign Launched in US

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.

26th July 2010/by Tyrepress Editors

Michelin North America Launches Uniroyal Winter Range

In North America Michelin is gearing up to launch a new Uniroyal winter tyre, the Tiger Paw Ice & Snow II. Scheduled for release on August 1, the new passenger car range will be available in 29 sizes, nine of which are Tiger Paw Ice & Snow I designs previously only available in Canada. Michelin describes the Tiger Paw Ice & Snow II as a tyre “provides both durability and reliability for driving in severe winter conditions at an affordable price.”

23rd July 2010/by Tyrepress Editors

Demand for Industrial Tyres Lifts Trelleborg Wheel System sales

Although its year-on-year sales share of the group total slipped from 11.1 per cent in the second quarter of 2009 to 10.7 per cent in quarter two of this year, sales at Trelleborg Wheel Systems grew two per cent year-on-year during the three month period. Sales for the division came to SEK 795 million (£70.7 million), a figure that represents eight per cent organic growth counterbalanced by negative six per cent exchange rate effects. EBITA margin in the three months between April and June 2010 was 10.3 per cent, down from 13.8 per cent a year earlier. The Swedish company states that markets outside North America and Europe recorded positive performance for volume and earnings.

22nd July 2010/by Tyrepress Editors

Hankook Sees Q2 Profits Surge

Hankook Tire reports its profits in Korea jumped 22.4 per cent in the second quarter of 2010 to KRW 822.3 billion (£443.1 million), a figure the Korean tyre maker claims to be its highest ever quarterly result. This quarter high water mark was achieved on the back of a 13.0 per cent year-on-year increase in global consolidated sales, to KRW1.4 trillion (£754.4 million) and a 22.7 per cent year-on-year growth in operating profit to KRW 177.7 billion (£95.7 million).

20th July 2010/by Tyrepress Editors

Entire Conti US Regional Steer Tyre Range Now SmartWay Verified

Continental Tire the Americas reports that its entire regional steer tyre range has now been added to the US Environmental Protection Agency (EPA) SmartWay Transport Partnership’s list of verified fuel savings technologies with the recent verification Conti's HSR2 (Heavy Steer Regional), HSR1 and HSR truck tyres. This brings the total number of SmartWay verified Conti steer tyres to six. The company also offers three SmartWay verified drive tyres and two trailer tyres.

19th July 2010/by Tyrepress Editors

Trelleborg Wheel Systems Increases Agricultural and Forestry Tyres Prices

Trelleborg Wheel Systems has announced plans to increase prices by an average of 5 per cent in Europe and North America. The price hike – the firm’s second in the agricultural and forestry segments this year – is said to be the result of rising raw material costs. The latest round of prices increased will take affect on 1 Septemeber 2010, according to a company statement detailing the matter.

7th July 2010/by Tyrepress Editors

Pirelli Tire North America Opens New York Sales & Marketing Office

Pirelli Tire North America (PTNA) has announced plans to expand its sales and marketing operations with a new office in New York City. According to the company, this office will complement its North American headquarters in Rome, Georgia. The expansion is intended to assist the company’s sales growth and will reportedly only involve “the outward facing parts of the sales and marketing departments.”

7th July 2010/by Tyrepress Editors