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Toyo Posts Net Loss in Q1 2008

Toyo Tire & Rubber has announced its consolidated business results for the first quarter of the 2008 financial year, the period between April 1 and June 30, 2008. Compared with the same period in 2007, net sales increased to 86.639 billion yen (£410.9 million), a rise of 4.6 per cent, while operating income decreased a significant 70.1 per cent, to 1.259 billion yen (£5.97 million). Ordinary income decreased to 1.205 billion yen (£5.71 million), down 71.6 per cent. The company reports a net loss of 1.438 billion yen (£6.82 million); in the first quarter of the 2007 financial year net income was 3.632 billion yen (£17.23 million).

12th August 2008/by Tyrepress Editors

Stapleton’s Leads Way With Private Brands

Prestivo, Stapleton’s own brand range of tyres, plays a leading role in the UK private brand segment, according company representatives. Positioned as a quality mid-range tyre, Prestivo is said to offer high performance characteristics and comes in two tread patterns, Prestivo 2000 and Prestivo Sport.

The Prestivo 2000 range offers 35 tyre sizes and the Sport range is available in 21. Both ranges are available exclusively to members of Stapleton’s Prestivo Partners scheme which ensures all retailers receive the backing and support they need to maximise sales of Prestivo Tyres. The scheme offers exclusivity, attractive rebates, branded clothing, in-store support including posters, POS materials and other branded support items.

11th August 2008/by Tyrepress Editors

Toyo Tire USA Increases Prices by up to 10%

On 1 October 2008 Toyo Tire U.S.A. Corp. will increase consumer (passenger and light truck) and commercial (truck and OTR) tyre products by up to 10 per cent. “The cost of raw materials, energy, and transportation continues to rise at a steep rate, making it necessary for us to increase our prices,” said Steve Weinger, senior vice president, sales & marketing, Toyo Tire USA Corp.

11th August 2008/by Tyrepress Editors

Saving Fuel & The Environment with Michelin Green Tyres

According to Michelin, more than 9.8 billion litres of fuel have been saved and more than 24 million tonnes of CO2 emissions have been avoided thanks to its green energy-saving tyres, marketed since 1992. The 600 million Michelin green tyres sold worldwide over the past 16 years are reported to have saved more than 45 litres of fuel each second, corresponding to more than 108 kilograms of CO2 kept out of the atmosphere.

Skyrocketing oil prices are impacting the entire global economy and reducing consumer purchasing power, observes the tyre major. With its green tyres, Michelin says it is actively helping to reduce the cost and environmental impact of road transportation, as tyres can use up to one tank out of five for passenger cars and up to one tank out of three in trucks. Michelin states its goal is to design tyres that help reduce fuel consumption while maintaining the same high performance in safety and tread life

6th August 2008/by Tyrepress Editors

Analysts “Still Cautious” on Cooper Shares

A financial analyst report on the fortunes of Cooper Tire suggests that investors will continue to be cautious with the American tyre manufacturer despite some positive signs.

The Deutsche Bank study states that Cooper’s “‘clean’ EPS loss, adjusted for a ‘normal’ 30 per cent tax rate, would have been ($0.26), compared with our ($0.23) estimate.” This figure is one that the Bank believes will deter investors for the time being, alongside “continued market share declines, high cash burn, lack of identifiable cost reductions, and warnings of further raw material increases.” On the other hand, the analysis states that the company’s plan “to raise prices by ‘up to 10 per cent’ in October” will mean that the share price will retain its strength.

6th August 2008/by Tyrepress Editors

Kumho USA Tyre Prices to Increase up to 10%

Kumho Tire USA has announced price increases of up to 10 per cent, with additional in line adjustments, on tyres sold in this market. Prices of passenger, light truck and truck and bus tyre prices, which most recently increased in May, will increase as of September 1, 2008.

6th August 2008/by Tyrepress Editors

Sealey Gets Ready For Winter

Like it or not, winter is fast approaching and Sealey has come up with a promotion to help keep those winter blues at bay. Launching on the 1st September 2008 with offers valid until the end of February 2009, Sealey’s 64 page ‘Winter Lines’ promotion will see you right through the chill with discounts on many must-have items.

6th August 2008/by Tyrepress Editors

McCain Mocks Obama’s Tyre Plea

Following US-presidential candidate Barack Obama’s fuel-saving tip of keeping tyres inflated (as reported on Tyrepress.com last week), the Democrat’s Republican rival, John McCain and his campaign staff have issued a fundraising email mocking the suggestion.

The email reads: “John McCain says we need offshore oil drilling and we need it now. Senator Barack Obama has consistently opposed offshore drilling — calling it a “gimmick.” Senator Obama’s solution to high gas prices is telling Americans to make sure their tyres are inflated.

5th August 2008/by Tyrepress Editors

Deldo Gearing Up for Winter with New Catalogue

Deldo Autobanden is a European specialist in winter tyres. For many years the company has focused on this fast growing market and now offers over 25 brands in Car, Van, 4×4 and SUV tyres. Alongside Deldo’s understandable – considering their commercial viability for cold weather products – focus on the traditional ‘winter’ countries like Germany, Austria, and Switzerland the company is also ramping up its product range, thanks to the ‘studdable’ tyres from Wanli and Fortuna, for the Scandinavian market.

While both of these markets – the Germanic and Scandinavian – are familiar to the company on the basis of winter tradition, Deldo has also found great opportunities for both budget and branded winter tyres in Eastern Europe and the Russian republics. Winter tyres are becoming more important in other countries too, with significant growth in the Benelux, France and Italy. As a consequence, winter tyres are playing an increasingly important role in Deldo’s complete product range.

5th August 2008/by Tyrepress Editors

Aufine to Raise Prices

Aufine Group Co. Ltd is to raise prices for shipments from 1 September. According to a price adjustment notice dated 1 August 2008, the price increase is the “unfortunate” result of the current high cost of steam, electricity and raw materials. This has apparently resulting in the “not small” increase in the cost of Aufine’s production. “We therefore regretfully inform you our prices for shipments from 1 September 2008 will be further revised. Exact details are expected to follow soon. The Qingdao, China-based Aufine Group last raised its prices in June following a 23 per cent increase in natural rubber prices.

5th August 2008/by Tyrepress Editors

Bridgestone North America Prices to Rise up to 10%

Bridgestone Corporation is planning tyre price increases of up to 10 per cent in the US and Canadian markets. Prices for motorcycle, passenger car, truck and agricultural tyres will go up as of September 1, the company announced.

According to Asahiko “Duke” Nishiyama, President of BFNT and its parent company, Bridgestone Americas Holding, increased synthetic and natural supply difficulties and the resultant high prices are a key factor behind the price increases, along with increased fuel costs at every stage of production and distribution.

1st August 2008/by Tyrepress Editors

Interstate Increases Size Range on the IWT-2

Carrying tyres produced using the latest technology and state-of-the-art tyre-building machinery, Interstate offers a range of high-quality own-brand winter options. The company is able to offer the tyres at competitive prices thanks to 25 years of experience of co-operating with world leaders in the development of advanced technology in the design and production of tyres.

The winter program contains 14 sizes, in one pattern: the IWT-2. These tyre sizes cover a large part of the replacement market for passenger car tires, a market Interstate aims to develop. All the winter offerings from Interstate are e-marked, DOT approved and produced in the newest ISO-certified facilities.

1st August 2008/by Tyrepress Editors

India’s ATMA Repeats Demand for Duty Free NR Imports

With India’s tyre industry potentially facing a severe shortage of natural rubber, the Automotive Tyre Manufacturers’ Association (ATMA) has repeated its demand for the immediate duty-free importation of 100,000 tonnes of natural rubber.

The industry, which consumes 57 per cent of India’s domestically produced natural rubber, is said to be in the midst of its worst ever raw material availability crisis. The Hindu Business Line quotes ATMA director general Rajiv Budhraja as saying during the final days of July 2008 the availability of sheet rubber to the tyre industry has been ‘woefully inadequate’. Mr. Budhraja added that, as domestic natural rubber prices are even higher than those on the international market, the commodity now accounts for 41 per cent of the tyre industry’s raw material costs.

31st July 2008/by Tyrepress Editors

Titan Reports Record Sales, Increased Profits in Q2

Titan International has once again reported all time record sales, this time for the second quarter of 2008. In the three months ending June 30, Titan recorded sales of US$269.1 million, 28 per cent higher than the second quarter 2007 sales of $210.3 million. Net sales were also up for the half-year period; sales of $522.6 million reflected a 20 per cent increase on the $436.6 million recorded in the first half of 200. According to Titan, the record sales levels for the second quarter and first half of 2008 can be attributed to exceptionally strong demand in the company’s agricultural market, which reported higher sales of 50 per cent for the second quarter of 2008 and 38 per cent for the first half of 2008 as compared to the respective 2007 periods.

30th July 2008/by Tyrepress Editors

Tenneco to Transfer Rubber Moulding Operations to Mexico

Automotive parts manufacturer Tenneco has reportedly announced it will relocate its rubber moulding division from its Milan, Ohio facility to Reynosa in Mexico. This transfer of operations will lead to approximately 65 job redundancies at the Milan plant. According to the company, the decision to move operations to Mexico is necessary to remain competitive in the domestic and global markets, due to ever increasing fuel, rubber and steel prices.

28th July 2008/by Tyrepress Editors