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Michelin Q3 Figures Show Improvement

Michelin reports its decline in unit sales during the third quarter of 2009 and over the first nine months of the year is “in line with the decline in global tyre markets.” During the most recent quarter the manufacturer recorded a 14.0 per cent drop in unit sales, a figure that shows a lift in sales compared to the preceding months: in the first nine months of the year unit sales were 20.1 per cent down. The French tyre major generated net sales of 3.754 billion euros in the July to September quarter, a 10.9 per cent decrease on the corresponding three months in 2008. During the nine months to September 30, 2009 net sales amounted to 10.888 billion euros, a year-on-year decline of 12.5 per cent. Deutsche Bank analysts comment that third quarter sales were “slightly better than expected”; sales also beat the expected average of 3.727 billion euros gleaned from and a Reuters survey of six analysts. While volumes were as bad as Deutsche Bank’s analysts anticipated, Michelin’s four per cent price-mix for the quarter was a pleasant surprise. Price mix during the nine months was 7.6 per cent.

27th October 2009/by Tyrepress Editors

North America Launch for Bendix SmarTire System

The SmarTire TPMS system, now the property of new owner Bendix Commercial Vehicle Systems, has gone on the market in North America. Bendix is targeting sales at fleets through its network of OES and independent aftermarket partners across the region.

23rd October 2009/by Tyrepress Editors

Continental Changes Industrial Staff

(Tire Review) Continental Tire North America has made staff changes to its industrial tyre group. David Whitmore was named the unit’s new OE sales manager, while Paschal Dellavedova is the new south-central US region account executive for industrial tyres. Mark Madding is the new account executive for replacement industrial tire sales in the western US.

22nd October 2009/by Tyrepress Editors

Atturo Offers US Consumers Tariff Free Asian Value

The less atlas adroit amongst us, when hearing the name “Republic of China”, may think of Beijing, Shanghai or centres of tyre manufacture such as Qingdao. At this point we’d like to draw your attention to a small island moored alongside the world’s most populous nation. The aforementioned Republic of China is better known as Taiwan, and US consumers – and their wallets – will soon appreciate the distinction between the two similarly named countries. Following its international debut at September’s CITExpo exhibition, the Atturo tyre range is heading stateside and will be shown off in North America for the first time at SEMA 2009. And since the line-up is manufactured in Taiwan, it is exempt from the new US tariffs on Chinese made tyres.

16th October 2009/by Tyrepress Editors

Pirelli Hikes US Cinturato P5 and P4 Four Seasons Prices 10%

In the US, Pirellli is raising the prices of its US P4 Four Seasons and Cinturato P5 tyres by 10 per cent, effective 1 November 2009. According to the company, the move is a result of “market pressures created by the recent tariff on Chinese consumer tyre imports” as well as increased rubber and raw material costs.

Pirelli Tire North America’s price increase is the first move from the premium sector in response to the recent Chinese import tariff and suggests that, directly or indirectly, the tariff has an effect throughout the market. Pirelli previously said that only very small shipments of certain specific products would be direcly affected by the tariff and that its influence was “not material.”

15th October 2009/by Tyrepress Editors

Michelin Celebrates ‘Navy Week’, but has Goodyear Trained its Guns on Military Contracts?

Representatives from the US Navy may have hauled up their anchors and, as it were, set sail for Greenville, South Carolina during October’s Navy Week 2009 festivities, but whether Michelin North America has grounds for continued celebration remains to be seen. While Michelin is currently top dog in the US military supply game, a defence bill passed by the US House of Representatives in late July opens up bidding on military contracts to other potential suppliers.

14th October 2009/by Tyrepress Editors

Marangoni Merges Retreading Businesses

As a response to market changes and the rapid evolution of its manufacturing and distribution arms, Marangoni has decided to merge by incorporation its Marangoni Spa and Marangoni Tread SpA operations into Marangoni Pneumatici SpA. This new company, which came into being on October 1, 2009, will serve as the parent company and will be officially known as Marangoni SpA. This merger, says Marangoni, is part of a medium-term strategic plan aimed at strengthening the group and placing a greater focus on its core retreading business.

2nd October 2009/by Tyrepress Editors

Goodyear to Invest $600 million in US Union Plants Over 4 Years

Goodyear Tire & Rubber Company has announced that its four-year labour contract with the United Steelworkers union (ratified on 18 September) could save the company as much as $555 million in savings before a potential profit sharing impact. The company also committed to investing $600 million in its USW facilities over the next four years. The seven plants covered by the master agreement are in: Akron, Ohio; Buffalo, New York; Danville, Va.; Fayetteville, N.C.; Gadsden, Alabama; Topeka, Kansas; and Union City, Tennessee.

According to a Goodyear statement, these changes are expected to provide Goodyear with cost savings of approximately $215 million over the term of the contract. Combined with savings realized through “pre-bargain agreements to reduce staffing levels at five plants,” the company expects to realize $555 million in total savings over the term of the agreements. However, financial analysts at Deutsche Bank estimated that the agreement will result in $155 million of gross annual savings by 2013. Their response was to raise their share price estimates for 2010 and 2011 to $1.85 and $2.45 from $1.70 and $2.20 respectively.

30th September 2009/by Tyrepress Editors

Toyo Rated Top Tyre by US Dealer Survey

For the eighth time in a decade Toyo Tire & Rubber has been rated the top overall consumer tyre brand in Tire Review’s annual Tire Brand Study of North American Tire Dealers. The company has also taken the number one slot for medium truck tyres – the sixth time in the last eight years.

29th September 2009/by Tyrepress Editors

Bigger Tyre Manufacturers Losing Global Market Share: Deutsche Bank

A Deutsche Bank analysis of the global tyre market in 2008 has revealed that the global top 11 tyre manufacturer’s share of said market has fallen considerably in this decade, while the market capacity has swelled to twice its value (not allowing for inflation) at the turn of the millennium – US$140 billion compared to 69.78 billion in 2000. In addition, the Global Big Three (Bridgestone, Michelin and Goodyear) have seen their market share dwindle to 46.2 per cent. In the four previous recordings, taken by Deutsche Bank at five-year intervals, their share had not dipped below 52.1 per cent. Analysts attributed the downward trend to the fact that they have a below average share of the markets that are growing most rapidly, such as China. The news is affecting Goodyear most of all, since they have reportedly lost three times more market share than either Bridgestone or Michelin.

28th September 2009/by Tyrepress Editors

Layoffs Announced at Closing MNA Factory

In preparation for the closure of its Opelika, Alabama factory at the end of October, Michelin North America's BFGoodrich Tire Manufacturing has announced the layoffs of approximately 350 production employees, effective October 2. According to Lynn Mann, MNA director of external communications, the layoffs are part of the company’s “rampdown activities”.

28th September 2009/by Tyrepress Editors

Morgan Stanley: Michelin August Sales Present Good and Bad News

Analyst reports on Michelin’s tyre sales for last month show both an improvement over Morgan Stanley’s previous predictions and the continued decline of truck tyre sales on July, albeit at a slower rate than in year-to-date figures, representing a bittersweet day for Bibendum. The analyst said that truck sales “were somewhat disappointing in mature markets,” though the figures were “on track to exceed our volume forecast for the quarter. Assuming stable share, we estimate Michelin volume in Aug declined approximately 9 per cent versus our forecast of a 12 per cent volume decline in third quarter.” Predictions in the report were also variable in optimism, since the analysts believe improving declines should “turn into outright growth” towards the end of the year. However, pricing discipline and profitability could be affected over the next two years throughout the industry, as depressed volumes and lower raw materials prices put both at risk.

23rd September 2009/by Tyrepress Editors

Nokian Tyres Buys Maine Wholesale Tire to ‘Solidify Distribution’ in US

Nokian Tyres, Inc. has announced that its University Wholesalers subsidiary has purchased Maine Wholesale Tire, a Portland, Maine based tyre distributor. Local news sources report that one of the former owners of Maine Wholesale Tire will remain as management staff to ensure a smooth transition. Terms of the deal were not disclosed. The new entity will now operate under the University Wholesalers name, according to a press release.

“The operation gives us a much stronger presence in Maine and will enable us to improve levels of service to our dealers there and also in southern New Hampshire and eastern Massachusetts,” said Jari Lepisto, General Manger Nokian Tyres, Inc.

Nokian Tyres, Inc. is the North American subsidiary of Nokian Tyres Plc., Finland. The company employs 135 people and services over 1500 retailers (including 12 Vianor branches) in North America.

21st September 2009/by Tyrepress Editors

Hayes Lemmerz Realigns Global Operations

As of September 1 Hayes Lemmerz International has realigned its global operational sites into three regions. According to company president and COO Fred Bentley, "The purpose of the realignment is to become more strategically focused in the operation of the business by aligning the organisation into specific regions. This realignment allows us to continue our global focus on the customer base while creating additional efficiencies from the functional support groups. This is a great move for our business and allows us to continue to develop our future leaders." Mustafa Zaim, managing director of Turkish Operations, will continue in his present role as managing director and will also assume the additional responsibilities coordinating Global Materials management as well as act in an advisory capacity to the EAAP region on operational matters. Zaim will continue to report to Mr. Bentley.

21st September 2009/by Tyrepress Editors

Bridgestone, Union Reach Deal

Fresh reports say that Bridgestone Americas and the United Steelworkers have reached a tentative agreement on a new four-year master contract. The deal was struck, said reports, early Wednesday in Louisville, Kentucky. Neither side made any comment regarding the proposed contract. At four years, the Bridgestone Americas master union deal would match Goodyear’s tentative – but still not ratified – union deal in length. Michelin North America’s new contract with the USW covers three years, as most tyre-maker-union contracts have in the past.

17th September 2009/by Tyrepress Editors