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Continental AG Publishes Record Sales and Earnings

Continental AG’s consolidated sales rose by 9.8 per cent to 13.82 billion euros (prior year: 12.59 billion) in 2005. The company’s operating result (EBIT) increased at an even higher rate of 30.2 per cent to 1.5 billion euros (prior year: 1.15 billion). The return on sales amounted to 10.9 per cent (prior year: 9.2 per cent). “When adjusted for scope of consolidation and one-time effects, EBIT in 2005 rose by 165.1 million euros over the previous year,” explained Dr Alan Hippe, executive board member responsible for finances.

24th February 2006/by Tyrepress Editors

Blackcircles Cooperates with Bike Trader

Blackcircles has formed a new partnership with Europe’s most popular motorbike site, biketrader.co.uk. The new deal will see Bike Trader launch its own online tyre shop powered by the Blackcircles retail engine. Through the new shop bike owners will have access to a range of over 10,000 tyres, including Pirelli, Bridgestone and Metzeler, at some of the lowest prices in Europe.

24th February 2006/by Tyrepress Editors

New Motaquip Product Planner

Motor parts supplier Motaquip has announced the appointment of Andy Hill as product planner, expanding its product team to eight. He will be responsible for Motaquip’s timing and drive belts range, compiling catalogues, setting prices and developing range additions. Andy Hill has over 25 years’ automotive industry experience, having worked for Lucas SRE, TRW Automotive and Lucas Automotive. Prior to joining Motaquip, he was product development manager for Timken, where his responsibilities included the company’s automotive aftermarket product activities.

22nd February 2006/by Tyrepress Editors

Accuride Disappoints in Q4

Fourth quarter financial figures from wheel manufacturer Accuride were “somewhat disappointing,” according to Deutsche Bank pundits. Sales were up two per cent, against an expected 11 per cent. Lower volumes and high aluminium prices were cited as the reasons. The analysts are lowering their estimates for 2006 for Accuride, but are maintaining their “Hold” rating.

21st February 2006/by Tyrepress Editors

“Good Alternative to Vehicle Breakdown“

Its not just new tyre manufacturers and retreaders that are benefiting from booming OTR tyre sales. Businesses such as Stahlgruber’s Tip Top division have benefited from the recent increase in demand. The demand for tyre repair systems has multiplied over the last year, export manager Maximilian Spenger says. Today it is an absolute priority for users of OTR tyres everywhere to “keep the tyres going somehow.” At Tip Top’s headquarters near Munich those in charge are reacting quite calmly to the current situation because the market changes did not go unforeseen.

17th February 2006/by Tyrepress Editors

Michelin Achieves Profit Growth Through Price Rises

Michelin has reported an operating income of 1,368 million euros for 2005, up 5.1 per cent on a year earlier. According to Financial Times Deutschland, this is well above financial analysts’ estimates and reflects the higher prices that Michelin has been able to achieve, more than compensating for raw material cost increases.

17th February 2006/by Tyrepress Editors

Strike Continues at Firestone’s Liberia Plantation

Despite earlier reports that workers had gone back to work, one week into the strike company officials told Tyres & Accessories that while the industrial action “could end tomorrow, it could also go on for weeks.” In an interview with T&A, Bridgestone Americas’ Dan MacDonald and Gert Meylemans (Bridgestone Europe) explained that the ongoing strike might mean there is disruption, but it also unlikely to have any long term or direct effects on prices.

Despite the plantation’s size (118,000 acres) the company representatives downplayed the effect the strike would have on the tyre market. “The majority of what is harvested is not block rubber, but liquid latex,” Dan MacDonald told Tyres & Accessories. Instead the Liberian plantation’s output is only said to make up 14 per cent of Bridgestone Americas’ and 1.2 per cent of the company’s worldwide demand. For now there is said to be significant quantities of the necessary raw materials in reserve. And the executives pointed out that the company ran other large plantations in places like Indonesia. Reserves and alternative sites aside, 5,800 striking workers is not good for any company.

13th February 2006/by Tyrepress Editors

Varta Warns of Further Battery Price Increases

Varta has warned the UK aftermarket to expect further steep rises in automotive battery prices later this year. This is the result of the high price of lead on global markets, which has been steadily rising since mid-2003, driven by demand for base metals from China and other emerging markets. The price of lead is the major factor governing the cost of a car battery and, while increased material costs were initially absorbed by the manufacturers, this is no longer tenable, with lead costing 80 per cent more than it did two years ago.

8th February 2006/by Tyrepress Editors

Indian Tread Rubber Producers Raise Prices

The All Kerala Small Scale Tread Rubber Manufacturers Association has decided to increase the price of tread rubber by 8 rupees (10 pence) per kilogram, India’s Business Standard reported. The association general secretary, George Varghese, said the increases were necessary to counter high raw material costs and protect tread rubber producers’ livelihoods.

7th February 2006/by Tyrepress Editors

Titan CEO Get Political

(Akron/Tire Review – Quincy Herald-Whig) Morry Taylor, who created a stir when he ran for president in 1996, is shaking things up again. This time, the president and CEO of Quincy-based Titan International took out a full-page ad 2 February in USA Today calling on Americans to demand common-sense solutions to some of the problems facing this country.

The top of the ad reads in bold print: “Americans are you stupid? I don’t think we are, but politicians, bureaucrats and the intelligent elite think so.” Taylor used the ad as a platform to express his views on a variety of issues he feels are being mishandled by the nation’s leadership.

7th February 2006/by Tyrepress Editors

Tyre Firms to Hike Prices Afresh

Indian tyre manufacturers are set to increase prices following further increase in rubber prices. The recent most recent hike is said to be 1.5-2 per cent, according to India’s Business Line newspaper.

Over the last 13 months, tyre prices have gone up by 15 per cent for the OE segment, and 7 to 8 per cent for the replacement market, which mostly comprises truck tyres.

6th February 2006/by Tyrepress Editors

Free Trade Talks With South Korea to Start

(Akron/Tire Review) Free trade talks between the US and South Korea have been confirmed, and if they are successful it would represent the largest free trade deal for the US since NAFTA was instituted.

6th February 2006/by Tyrepress Editors

Bandag Net Earnings Halve

Bandag Inc’s fourth quarter 2005 net earnings slid to less than half of their 2004 level despite strong net sales of $252.3 million (£142 million), up seven per cent. Consolidated net earnings totalled $12.1 million, compared with $30.8 million in 2004. According to the company, net sales were positively impacted by foreign currency translation to the tune of approximately $3.5 million.

Announcing its full-year 2005 results, Bandag reported consolidated net sales of $914.6 against $864.3 million in 2004. Consolidated net earnings for 2005 were $49.5 million compared to $66.9 million in 2004.

3rd February 2006/by Tyrepress Editors

Blackcircles Joins the Fleet Business

Blackcircles.com is to challenge the established fleet market with the launch of its own online fleet service. Recent appointment, Paul Collins, will be responsible for ensuring consistent delivery and on-going innovation by managing Black Circles Fleet.

According to the company, the new service will be available to vehicle fleets of all sizes. Furthermore, blackcircles.com/fleet is said to significantly simplify the purchase process by providing access through a web-based system. Businesses will have their own private area containing all their vehicle details and will be able to make transactions using a unique PIN number.

2nd February 2006/by Tyrepress Editors

Stamford Announces Wheel Price Hike

(Akron/Tire Review) Thai tyre and wheel maker Stamford Tires & Wheels said it is raising prices on its Stamford Sport Wheels and private branded wheel products by 3 to 5 per cent, effective 1 February. Stamford said prices on 13- to 15-inch wheels will increase by 5 per cent, while prices on 16-inch and greater wheels will increase 3 per cent.

27th January 2006/by Tyrepress Editors