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Michelin Issues ‘Reassuring’ Profit Warning

Michelin has reassured market watchers that it will be able to achieve an operating margin of around 8 per cent for the full year, following the successful achievement of the same figure (equivalent to 644.7 million euros) in the first half of 2006. The company had previously predicted that it would achieve an operating margin of 8.8 per cent. Michelin achieved first half net sales of 8,023 million euros, up 7.1 per cent compared with the same period last year.

31st July 2006/by Tyrepress Editors

Michelin Raising P/LT Prices

(Akron/Tire Review) Michelin North America said today that it is raising prices on all of its replacement market passenger and light truck/SUV tyres sold in the U.S. by 3 per cent. The increase will be effective Oct. 2.

28th July 2006/by Tyrepress Editors

Goodyear Raising Truck Tyre Prices

(Akron/Tire Review) Goodyear Tire & Rubber Co. yesterday announced that as of Aug. 1 it was raising prices on its medium truck tyre lines by as much as 5 per cent. In addition, Goodyear also hiked prices on its retread products sold in North America by up to 5 per cent as of July 1. The increase, due to raw material, energy and transportation costs, covers the company’s Goodyear, Dunlop and Kelly-Springfield brands.

28th July 2006/by Tyrepress Editors

LSUK Seeks Retail Battery Partners

LSUK, which claims to be the largest single supplier of batteries in to the UK automotive, marine, leisure, industrial and commercial industries, is giving proactive garages, fitters and retailers the opportunity to join its battery programme – and reap numerous rewards at the same time. The UK battery market is estimated to be worth £120 million in retail sales every year and LSUK has established itself as a leading player in the sector with the unrivalled service that it can offer. With 52 distribution branches nationwide, LSUK is in the position to offer first class product availability from stock, access to the best brands on the market, and arguably the most competitive pricing structure in the battery sector.

27th July 2006/by Tyrepress Editors

V*king Low Clearance Prices

Viking International has launched a summer tyre clearance across a wide range of stock. Thousands of sizes have been reduced to clear on premium brands such as Pirelli, Michelin, Continental and Bridgestone as well as selected lines in the company’s private brand range including Viking, Gislaved and Barum. According to the company the sale provides dealers “with an even greater profit opportunity.”

13th July 2006/by Tyrepress Editors

Michelin Initiates Prices Increases

Michelin has reported that it has begun raising prices for its truck and construction equipment tyres in Europe to help compensate for higher commodity costs, particularly natural rubber. The price increases, which average 3 per cent to 5 per cent, began in mid- June, said Anne-Sophie Creton, a spokeswoman quoted in the International Herald Tribune.

5th July 2006/by Tyrepress Editors

Malaysian Retreaders Increase Prices

The Tyre Retreading Manufacturers’ Association of Malaysia (TRMAM) has warned customers to expect a 10 to 15 per cent price increase for tyre retreading. In a statement, TRMAM said the move is necessary in view of the dramatic increase in prices of raw materials, especially natural rubber, synthetic rubber and carbon black. “The situation is exacerbated by significant increases in fuel cost and electricity rates, which substantially add to retreaders’ operating costs,” the statement added. However, even with the impending price increase, Malaysian retreads are still significantly lower than most neighbouring markets in the region, including China, Malaysia’s Business Times reported.

30th June 2006/by Tyrepress Editors

Trax – All in the Design

Leading balancing weight producer Trax, received much positive feedback about its lead-free weight design during the Essen show. This was at least partly due to the company’s excellent position in hall one, but was also because the 2006 exhibition was the first Reifen Show since the lead weight ban came into place last July. Since 2004 the company has ramped up production by some 15 per cent to 100 million units a year and anticipates signing an OE deal with at a large French car manufacturer soon.

29th June 2006/by Tyrepress Editors

Cooper Idles All Four US Plants

Following earlier reports that Cooper Tire & Rubber will idle its Texarkana, Arkansas production facility, the company now says it has decided to suspend production at all of its US plants for two weeks. Cooper Tire & Rubber Europe’s production facility at Melksham, UK, is not expected to have any shutdowns. However, sources within the company report that production here has also been cut back slightly. As the problem is due to oversupply, deliveries are not expected to be adversely affected. Cooper Tire & Rubber Europe sources all of its 4×4 lines from the US production plants.

28th June 2006/by Tyrepress Editors

Tigar, Goodride Prices Reduced

Viking International has realigned its pricing structure for the Tigar economy brand in response to strong demand. With trade prices starting from as little as £10 the tyre is certainly a competitive choice. The sales support package includes information leaflets for your customers, stickers and reception/window posters. Viking has also reduced the prices it is charging for the Goodride budget tyre brand. Again trade prices start at just £10 and there are said to be a variety of sizes available.

22nd June 2006/by Tyrepress Editors

Indian Passenger Tyre Production up 20 per cent

The latest ATMA Indian tyre manufacturers’ monthly production figures show that passenger car tyre production in the emerging market rocketed 20 per cent. In April 1,243,559 tyres were produced as opposed to 1,037,296 in April 2005. The truck market remained flat at 977,510 units, up 0.2 per cent on last April. During the same period jeep tyre production fell 17 per cent from 115,032 units in April 2005 to 95,383 this year.

21st June 2006/by Tyrepress Editors

Analysts Confident About Nokian Prospects

Nokian Tyres’ new HP 5 winter tyre has been well received in the market and pre-season sales have started well. According to a Deutsche Bank report analysts believe this and price increases are good signs for the company’s performance in the second, third and fourth quarters. Nokian is reported to have stirred up the market by taking market share by aggressive pre-season sales in the second quarter of last year before being “hit by competition” in subsequent quarters. “However, it seems the biggest pressure is now behind us due to the sharp increase in raw material prices. Management commented that most competitors have announced price hikes for the winter season and that these look likely to stick,” the report concluded.

21st June 2006/by Tyrepress Editors

Alcoa Raises Forged CV Wheel Prices

Alcoa Wheel Products Europe is to raise its forged CV aluminium wheels prices between 8 and 12 per cent, depending on the product specification. New prices will be implemented for all shipments after 31 July 2006.

16th June 2006/by Tyrepress Editors

Bandag Announces Cost Cutting Programme

Bandag, Incorporated announced that it has closed its pension plans to new hires in the U S and Canada, and will freeze the existing pension plans for US employees and for salaried Canadian employees effective 31 December 2006. The cost-cutting programme includes an early retirement programme and voluntary and involuntary redundancies for some US employees.

16th June 2006/by Tyrepress Editors

Analysts Lower Estimates on Goodyear and Cooper

Deutsche Bank analysts lowered their estimates on Goodyear and Cooper following what the was reportedly an “abysmal April” for the US tyre business. “Anecdotal reports from our tyre industry contacts suggest that US replacement tyre demand was down again in May following an abysmal April (-9.6 per cent). Weak demand comes at a bad time for tyre producers, many of which were already brimming with finished goods inventory at the end of the first quarter and experiencing huge spikes in raw material costs,” the analysts reported.

7th June 2006/by Tyrepress Editors