November Archives - Page 21 of 34 - Tyrepress

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Goodyear’s New Eagle F1 Asymmetric Wins Independent Test

Goodyear’s Eagle F1 Asymmetric was recently rated best in a Tire Rack test. A comprehensive test of the new Goodyear tyre pitted it against three competitors in the “Max Performance” tyre category. The Tire Rack team tested the four tyres in road conditions – allowing subjective feedback on noise, ride quality and everyday handling, then judged the tyres in wet and dry conditions on the company’s test track. In summarizing the overall win for the Goodyear Eagle F1 Asymmetric, Tire Rack concluded, “An excellent Max Performance Summer tyre that almost does it all.” Goodyear representatives put the tyre’s success down to innovations like the tyre’s “Active CornerGrip(TM) Technology,” which puts an Aramid reinforcement in the inside sidewall of the tyre.

21st January 2008/by Tyrepress Editors

Titan May Chop Production at Ex-Goodyear Plant

It appears, as previously reported, that the honeymoon between the United Steelworkers and Titan International Chairman and CEO Morry Taylor is over. News reports say that Taylor is threatening to move tyre production out of Titan’s plant in Freeport, Illinois, unless the USW goes along with his plans to make the former Goodyear plant operate profitably.

“That’s the way it is,” Taylor told the Freeport Journal-Standard. “We’re going to run a profitable plant or we’re going to shave it down until it does make money. I told everyone that when we first came here.” Apparently, Titan is seeking staffing and wage reductions, but specifics of Titan’s plan for the plant were not revealed. In a memo obtained by the Freeport newspaper, Taylor said that without concessions from the USW employment could be cut to the bare minimum allowed under Titan’s current contract with the Steelworkers.

18th January 2008/by Tyrepress Editors

Michelin Loses Asbestos Ruling Appeal

A French appeals court has confirmed the November 2006 ruling that Michelin negligently exposed workers to hazardous levels of asbestos during the 1960s and 1970s. The November 16, 2006 decision made by the Tribunal des affaires de Sécurité Sociale (TASS) in Clermont-Ferrand related specifically to four former employees, including three who had died from asbestos related cancer.

It was said that, between them, the four men insulated 1,400 metres of pipes with asbestos every month until 1973. Although Michelin claimed that the employees’ exposure to the carcinogenic material occurred in an era when the health dangers of asbestos were not widely known, the appeals court on January 8 upheld the decision related to the three deceased employees; a judgement is still to be made in the case of the fourth man.

9th January 2008/by Tyrepress Editors

Ingenuity Welcome at Johnson Controls

Johnson Controls has launched a new brand communications platform and refreshed corporate identity that incorporates a new logo, corporate slogan and advertising campaign. The company said the move is designed to better align its image and marketing efforts with the company’s current strategic direction. Using the slogan “Ingenuity Welcome,” Johnson Controls is promoting itself as a diversified, multi-industrial company organised into three divisions: Automotive Experience, Building Efficiency and Power Solutions.

7th January 2008/by Tyrepress Editors

Sales Up But Hayes Lemmerz Reports Q3 Net Loss

Third quarter results for wheel manufacturer Hayes Lemmerz showed a 20 per cent increase in sales from the same period a year earlier. For the three months ending October 31, 2007 the company took in sales of US$554.9 million, up from $463.3 million in the third quarter of 2006. The company reports that this increase in sales resulted in strong international aluminium and steel wheel sales, material cost recovery and favourable foreign currency fluctuations.

For the third quarter, the Hayes Lemmerz reported adjusted EBITDA of $55.8 million, an improvement of $12.0 million or 27 per cent over the year earlier quarter, and earnings from operations before impairments of $22.2 million, an improvement of $11.3 million –more than double Q3 2006. Free cash flow for the third quarter, excluding the effects of the company’s accounts receivables securitisation program, was $26.5 million, an increase of $26.2 million over the year earlier quarter. Free cash flow for the first nine months of fiscal 2007 was $8.0 million, an increase of $14.2 million for the same period last year.

10th December 2007/by Tyrepress Editors

Alcoa Opens New Hungary Production Line

On 8 November Alcoa officially opened its new Dura-Bright forged wheel production line at its Hungary factory. According to the company, the Alcoa Dura-Bright surface treatment process in Hungary is a very environmentally friendly operation, thanks to the “Green solution for wastewater treatment and recycling systems”, which generates zero liquid disposal, as it uses 100 per cent recycled rinse water. The first “European” Dura-Bright wheels are expected to roll off the line in January 2008. In the meantime, Dura-Bright wheels will continue to be shipped via Alcoa’s European central stock for short term delivery.

7th December 2007/by Tyrepress Editors

London Tyre Shop Destroyed by Blazing Van

A tyre dealership in South London has been destroyed following what appears to be a premeditated case of arson. Fire spread through Brixton’s Turbo Tyres early on Friday November 30 after a white Luton van was reportedly driven into the premises and set alight. Thirty firefighters worked for two hours to contain the blaze and prevent it from spreading to neighbouring flats. Numerous windows in these homes were blown out by an explosion that came from within the tyre shop, and some 75 local residents were evacuated from the area.

5th December 2007/by Tyrepress Editors

Bridgestone Announces Management Changes

Bridgestone Corporation announced on November 28 that its Board of Directors has approved the following proposals of the changes in Member of the Board and in Corporate Officers. The following board member will undergo changes in position and responsibilities, effective January 1, 2008.

– Toru TSUDA

New position and responsibilities: Vice president and senior officer responsible for products development, tyre products development, tyre research and material development.

Current position and responsibilities: Vice president and senior officer responsible for products development, tyre products development.

30th November 2007/by Tyrepress Editors

First Reifen China Attracts Over 5800 Visitors

The organisers of the first Reifen China exhibition have published visitor attendance and exhibitor numbers from the inaugural “Asian Essen Show.” A total of 5812 visitors from 41 countries passed through the show between 14 and 16 November. Of these, 16 per cent were described as overseas visitors. 88 exhibitors from 13 nations took stands in Shanghai, with the vast majority (68 per cent) directly from the tyre, casing and tube business. 16 per cent of exhibits represented press, publishing and associations; while 4 per cent originated from the equipment and vulcanisation sectors.

30th November 2007/by Tyrepress Editors

Pirelli Negotiating Share Buyback

(Tire Review) Company chairman Marco Tronchetti Provera confirmed that Pirelli SpA is in talks to repurchase a 39 per cent stake in its tyre unit. Tronchetti Provera made the statement in Shanghai on November 30, where Pirelli launched its 2008 Pirelli Calendar. Pirelli sold the 39 per cent stake in Pirelli Tyre to a group of banks in July 2006 for 740 million euros. The original plan was to take that share public with an IPO. “We are very confident that there will be an agreement,” Tronchetti Provera told media in Shanghai, but he added that negotiations could take months.

30th November 2007/by Tyrepress Editors

Interstate Tyres On Show in Kuwait

Interstate Tires are to participate at the prestigious Kuwait Automobile exhibition. From November 28 to December 4, 2007 Interstate Tires will display the company’s complete range of tyres. The Middle East is fast growing market and, according to Theo de Vries Interstate Tires are very popular in “various” Gulf states. Furthermore Interstate Tires is approved and licensed to be used in the official dealer organizations of Volkswagen, Audi, Ford and Mazda. “You can find Interstate Tires in the main hall, next to Audi and Spijker cars,” company president Theo de Vries told Tyres & Acceessories.

28th November 2007/by Tyrepress Editors

TCI Disinvestment Approved by India’s Lower House

India’s national house of representatives, the Lok Sabha, on November 23 passed the Tyre Corporation of India (Disinvestment of ownership) Bill, 2007 by voice vote. The move brings the divestment of the Indian government’s equity in the troubled entity another step closer. The Bill also seeks to revive the fortunes of the government controlled public sector corporation through pairing with a strategic private industry partner.

India’s minister for heavy industry and public sector enterprises, Mr Santosh Mohan Dev, said the government agreed upon four suggestions submitted by the ministry’s standing committee.

26th November 2007/by Tyrepress Editors

Rhodia to Increase Price of Silica and Other Products

Chemical manufacturer Rhodia, whose Rhodia Sileca enterprise produces silica for use in tyre manufacture, announced on November 22 impending worldwide price increases for its products. These increases will be in the range of 7 to 15 per cent, depending on product line.

The company reports in a statement that the price rises are a necessary measure: “Although Rhodia has put into place a number of action plans over the past few years to improve productivity and reduce costs, the price increases announced today are required to help respond to the dramatic and simultaneous rising costs of energy, raw materials and transport, and to defend Rhodia’s margins at a time when the demand for specialty chemicals is strengthening worldwide.”

26th November 2007/by Tyrepress Editors

Dunlop Nigeria to Borrow Funds for Modernisation

The Economic Community Of West African States (ECOWAS) Bank for Investment and Development has granted Dunlop Nigeria PLC a loan of US$8 million. The company was scheduled to sign a loan agreement at the ECOWAS Commission in the Nigerian capital city Abuja on November 23.

“The loan will enable Dunlop to partially finance the modernisation of some existing installations in its factory and procure new moulds for the manufacture of a greater range of products to meet the needs of the local market,” read a statement released by ECOWAS, a regional grouping comprised of 15 African member nations. Dunlop Nigeria will repay the loan over a five-year period.

23rd November 2007/by Tyrepress Editors

Michelin Cutting 20 Jobs at Upgrade Plant

(Akron/Tire Review) A mere ten days after the announcement that Michelin North America planned to spend $4.2 million upgrading its Pictou County, Nova Scotia plant, the company is eliminating 20 positions from this Canadian facility. Sheri Somerville, spokeswoman for the tyremaker, said the jobs in the company’s group services section are disappearing as part of an effort to improve plant efficiency.

“The positions are gone but we are working to find new positions for the workers,” she said. “Some of the people are eligible for retirement. We are trying to figure out what will work best for each individual.” Group services are provided to all the plants, not just those in which they are located.

22nd November 2007/by Tyrepress Editors