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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

Analysts Predict Michelin to Benefit Most from Market Recovery

Financial analysts are predicting that Michelin will benefit most from a margin recovery effect set to hit premium tyre manufacturers in 2010. According to Deutsche Bank, despite a significant negative volume effect, the leading tyre companies have been “very resilient” in 2009. This means they have benefitted form pricing discipline, raw material tailwinds (in the second half) and a positive OE/replacement mix. The analysts believe that next year’s volumes should rebound strongly from their low current level and, coupled with a leftover raw material tailwind and with restructuring paybacks, margins should rebound strongly. “Michelin should benefit the most followed by Pirelli. While Continental should benefit the least [proportionately] since tyres represent only 30 per cent of the group's revenues,” the investor’s note explained.

28th September 2009/by Tyrepress Editors

Vauxhall MasterFit Offering Safety Incentives With Tyre Purchases

Vauxhall MasterFit is not only offering to price match any local area tyre quote – customers making tyre purchases will also receive a free 25-point vehicle health check and a tyre pressure gauge. Commenting on the offer, David Elder from Vauxhall Aftersales noted: “Motorists don’t always think about taking their car back to their franchised retailer when looking for replacement parts such as tyres. We’re delighted therefore to introduce our tyre price promise campaign this autumn to demonstrate to our customers that we not only provide quality parts as you’d expect with a vehicle manufacturer, but also at an unbeatable price.

23rd September 2009/by Tyrepress Editors

Chinese Tyre Tariff Leaves Cooper Better Off

While opinions are divided about the perceived fairness of the US government’s 35 per cent Chinese tyre import levy, the repercussions on the global market are undeniable. After the initial fluctuations in tyre manufacturers share prices (down for those producing mainly in the Far East; up for the North American tyre makers), the latest effect has been for banks to raise their earnings estimates for Cooper Tire & Rubber. The decision comes on the back of an investor’s note which suggests Cooper Tire, which has opposed the tax, appears to benefit from the system overall.

Writing today (21 September) Deutsche Bank analysts said the US tariffs “have the potential to provide a significant net benefit to Cooper’s profitability over the intermediate term.” As a result the company raised its earnings estimates for the company to $1.61, $2.25 and $2.50 for 2009, 2010, and 2011, respectively, from $1.50, $1.40 and $1.48.

21st September 2009/by Tyrepress Editors

West Coast US Conti Racing Tyre Distribution Handed to Superbike

Seeking to establish the name in the USA, Continental has awarded exclusive West Coast, Hawaii and Alaska distribution rights of its racing motorcycle tyres to California-based dealer, Superbike Tires.

21st September 2009/by Tyrepress Editors

Viking: Quick, Convenient, Online

Viking International’s online ordering facility was recently nominated for an NTDA TAFF award. Here the company explains why its service offers dealers a “quick and convenient solution for all tyre, exhaust, cat and battery needs.”
According to company representatives, the site has been designed with the end-user in mind first and foremost. Tyres are clearly displayed by size, speed rating or price according to the user’s preference, with special offers highlighted for ease of use. Exhausts and batteries are easily looked up by the product part / code or simply by the vehicle make and model. All information is updated in real time, so pricing and stock are constantly updated, enabling dealers to offer their customers an immediate quotation. A unique customisation tool also allows dealers to adapt the website for their own use, uploading their own logo, changing the colour-scheme to match their own as well as displaying their own retail prices on-screen.

14th September 2009/by Tyrepress Editors

Euro Car Parts Launches Battery Application Guide, Promo

Euro Car Parts has launched a new battery catalogue and announced a buy now and pay later promotion. According to the aftermarket parts supplier, one of the largest independent distributors of batteries in the UK, customer demand has led Euro Car Parts to produce its own 40-page ‘Battery Application Guide 2009/2010’. The guide covers all car marquee applications, from Alfa Romeo to Volvo, including all the technical specifications one would expect, covering brands by Bosch, Exide and Lion. Also included are sections delivering comprehensive safety advice and regulations for lead-acid batteries as well and instructions for using starter batteries.

ECP has also launched a customer buy now and pay later battery promotion, offering the customer the chance to bulk buy on batteries from leading worldwide brands. Customers signing up for the promotion have the chance to receive a free battery stand, point of sale items, and an advanced battery tester.

3rd September 2009/by Tyrepress Editors

Natural Rubber Price Up +25%

The price of RSS3 grade natural rubber has shot up 25 per cent to US$2.0/kg in the last month (and US$ 1.8/kg for TSR 20 grade). True, according to Deutsche Bank analysts the latest prices surge is expected to impact tyre manufacturers’ profit and loss accounts in the first quarter of 2010. But this is still significantly below what tyre companies paid in 2008 (approximately $2.8/kg; 2007:$2.3/kg). Furthermore, according to the bankers, this is “not necessarily bad news for the industry” because higher input prices reduces the risks of “negative pricing” in the short term. In other words, with the impending recovery in sell-in markets expected any time now, in the coming months the industry will face no difficulties in increasing selling prices.

25th August 2009/by Tyrepress Editors

Deutsche Bank Praises European Tyre Makers’ Margins

In its global automotive news brief, Deutsche bank has noted that while the three major European tyre companies experienced "very weak" volumes during the first half of the financial year, each of them reported strong resilient margins. Continental achieved an adjusted operating margin of 11.0 per cent, which was stable on the first half of 2008, Michelin 4.0 per cent (8.6 in the first half of 2008) and Pirelli Tire 7.6 per cent (8.8 per cent in the first half of 2008).

12th August 2009/by Tyrepress Editors

Alcoa Supplying 20-Inch Wheel Blanks to Solomon Alsberg

Alcoa has extended the range of lightweight wheel forgings supplied to Russia’s Solomon Alsberg for its high-performance alloy wheel range. The American based company states that the aerospace-derived metallurgy used in its blanks allows Solomon Alsberg to create a wide range of ultra-stylish wheels that improve vehicle performance and dynamics while reducing fuel consumption and emissions.

7th August 2009/by Tyrepress Editors

FullboreUSA Range Arrives in Europe

The Japanese engineered motorcycle tyre brand FullboreUSA has developed a following stateside, and its popularity is said to be gaining within the racing fraternity, an acceptance that has been reflected by increasing North American sales figures in 2008 and 2009. Here on this side of the pond the FullboreUSA brand is brand new. The range is exclusively available through Delticom’s various national websites – at present FullboreUSA products can be purchased in Germany, Belgium, the Netherlands, Luxembourg, Denmark, Poland, Norway, Finland, Sweden, Iceland and the Czech Republic.

28th July 2009/by Tyrepress Editors

Aeolus Announces New Truck Tyres

Aeolus Tyres has announced that it is introducing two new types of truck tyres. The new HN254 and HN369 truck tyres have a widened tread and a new rubber composition designed to improve road safety and wear resistance. They will replace the brand’s HN257 and HN355 profiles.

“Aeolus Tyres puts all its efforts into the evolution of its current tyre programme. They will not be diverted off this course, not even in the current worldwide financial situation,” says Bertus Heuver on behalf of Aeolus Tyres Europe, exclusive importer for Aeolus in continental Europe.

9th July 2009/by Tyrepress Editors

Deldo Autobanden: “Sales have been Reasonably Good”

Deldo reported having a good Autopromotec with a lot of international visitors to their stand. “Our Italian team were kept extremely busy dealing with enquiries from perspective new and existing customers,” said the company’s marketing manager, Rutger Veerman.

“Up to now this year for Deldo has not seen the dramatic sales decline that was predicted by many due to weakening of the global economy,” continued Veerman. “In fact, our tyre sales have been reasonably good and there is even a slight improvement over the first months of the previous year. So, we would have to say that we are reasonably satisfied compared to what is happening with the automotive market generally. One obvious result of the international fiscal situation is the increasing demand for budget tyres.”

In addition to its premium labels, Deldo offers an attractive package of private brands Minerva and Fortuna and exclusive labels Wanli, Roadstone, Sailun and Rockstone. Each tyre program presents its own specific characteristics and size range which equates to total sales of over 3 million budget tyres annually. With a large sourcing network, daily communication with its many partners and the continuous development of its product portfolio Deldo holds a unique position in the European market. “Important assets for an independent wholesaler are client oriented service, continuous stock and supply, attractive pricing and just-in-time distribution,” said Veerman.

7th July 2009/by Tyrepress Editors

Details of Virtual Aftermarket eForum Announced

The first-ever Virtual Aftermarket eForum is set for 30 September. The eForum is an educational symposium focused exclusively on e-commerce and business technology in the automotive aftermarket. The planners chose to apply the latest web conferencing and virtual event technology to the eForum this year as a way of delivering the same content with significant savings to attendees and vendor participants. The eForum will be conducted completely on the web through a virtual event portal powered by ON24 of San Francisco, www.on24.com. The ON24 technology will provide a scalable and seamless experience for participants from the moment they register until the conference shuts down in March 2010.

30 September will kick off the eForum with four streaming keynote presentations on leading technology topics with online interaction and Q&A with the presenters. Registered attendees will have access to download exclusive white papers, videos and other presentations from the eForum archive, which will be available for six months. Attendees can network and participate in discussion chats in the eForum lounge. Individuals will be able to search for others with similar interests and start discussion threads about the presentations or other topics. (Tire Review/Akron)

17th June 2009/by Tyrepress Editors

Derco Signs Agreement with Michelin Aircraft Tire Company

Sikorsky Aerospace Services company, Derco Aerospace, has signed a new agreement with Michelin Aircraft Tire Company today that will support Derco’s distribution of Michelin’s military aircraft tyres around the world. Aircraft platforms supported under the agreement include, but are not limited to, the C-130, L-100, F-16, KC-135, P-3, UH-60 and Mirage.

“Derco is pleased to continue its relationship with Michelin Aircraft Tire Company to provide our worldwide customer base with high-quality Michelin tyre products,” said Paul Fuhrmann, Derco’s director of OEM & Repair Solutions. “Teaming with Michelin on this new agreement allows us better service our customers with immediate stock availability and competitive pricing for aircraft tyre products.”

16th June 2009/by Tyrepress Editors