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Prestivo Brand Drives Taylor Tyres’ Sales

Prestivo, one of the private brands in leading wholesaler Stapleton’s PCR portfolio, is reportedly bringing great sales benefits to too South West retailer, Taylor’s Tyres. Offering high performance and a comfortable ride, the range is available in two tread patterns, Prestivo 2000 and Prestivo Sport.

Cornwall-based Taylor’s Tyres is a long-standing Stapleton’s customer and has been stocking the Prestivo range since it was introduced in autumn 2006. The business is well established in the area and recently located to a new site offering car, motorcycle, truck and commercial tyres, including forklift trucks and tractors, as well as batteries, shock absorbers, brakes and exhausts.

25th March 2008/by Tyrepress Editors

Michelin Tyre Prices to Reflect Oil Costs

Michelin is introducing a new pricing system for its tyres, a move it says comes in response to soaring oil prices. This revised pricing is intended to distinguish the effect the price of petroleum-based raw materials (which account for approximately 60 per cent of the cost of a passenger car or light truck tyre) from the intrinsic value of Michelin tyres, and the company will thus adjust its prices based on a scale index according to changes in oil prices.

The French manufacturer states the introduction of this new price system for customers is a pledge of its transparency and clarity in the relationships it has with vehicle manufacturers. The system will take effect on April 1 and applies to all passenger car and light truck tyres sold to vehicle manufacturers worldwide.

25th March 2008/by Tyrepress Editors

Michelin Boosts Truck Tyre Pricing

Michelin North America is increasing prices on its Michelin and BFGoodrich brand medium truck tyres sold in the US by as much as 8 per cent. The replacement market increase takes effect Apr. 1. MNA said the increase will also impact its Michelin Retread Technologies tread stock. (Tire Review/Akron)

5th March 2008/by Tyrepress Editors

Cooper Tire International Ops Up 29% in Record 4Q Results

Cooper Tire & Rubber Company has reported net income of $51 million for the fourth quarter of 2007, ended 31 December. Income from continuing operations increased $67 million from a loss of $28 million for the same period last year. The substantial earnings improvement was accompanied by a new record of $765 million in sales for the quarter, a 7 per cent increase over the same period last year. During the quarter, the Company reported a $26.5 million gain on the sale of the operations of the Oliver Rubber Company and explained that it received net cash proceeds of $66 million.

The Company’s International Tire Operations reported sales of $228 million in the quarter, an increase of 29 per cent compared with the fourth quarter of 2006. The segment’s operating profit improved by $8.6 million to $3.8 million from a fourth quarter loss of $4.8 million the previous year. This increase was said to have been driven by higher unit volumes and pricing. For the total year, operating profit for the segment improved to $29 million, a $19 million increase over the same period last year.

29th February 2008/by Tyrepress Editors

Government of Liberia and Firestone Sign Agreement

Firestone Liberia has signed an Amended and Restated Concession Agreement with the government of Liberia. The agreement modifies the current 2005 concession agreement and comes after extended negotiations.

The government and Firestone have jointly affirmed that the amended agreement represents an opportunity for a new partnership between Firestone and the government in their support for the rehabilitation and enhancement of Liberia’s natural rubber industry.

25th February 2008/by Tyrepress Editors

Hankook Stock Jumps Following Morgan Upgrade

Hankook Tire’s share price has “jumped” 5.4 per cent following an upgrade from Morgan Stanley. The South Korea-based tyre manufacturer’s share price rose to 15,500 won at closing on 20 February, the largest gain since 18 December. The national Kospi index dropped 1.9 per cent. Morgan Stanley raised its rating on Hankook to “overweight”’ from “equal-weight”’ in a report dated today. “While the market seems nervous on higher raw material prices, we are more comfortable with the company’s ability to protect its margin,” Seoul-based market watchers, such as Jason Kang wrote. “The industry has been maintaining pricing power” through consolidation.

21st February 2008/by Tyrepress Editors

European Winter Tyre Slump May Continue in 2008

According to Deutsche Bank’s Equity Research Automotive Group, the dismal year for winter tyres experienced by our German neighbours may well be repeated in 2008. The winter tyre market represents 55 million units, 20 per cent of Europe’s replacement market. Half of these high margin products are sold in Germany, and in 2007 the winter tyre market decreased by 15 per cent, and by a substantial 30 per cent in the fourth quarter alone. As a result, winter tyre pricing is reported to be negative, and both manufacturers and dealers retain substantial stock levels in inventory. This situation is perhaps of particular concern to Germany’s Continental tyre, for which winter tyres represent approximately 17 per cent of passenger car tyre sales.

18th February 2008/by Tyrepress Editors

Dębica Launches Passio 2 Mileage Tyre

Dębica has launched a new passenger car tyre aimed at the mileage market. The Dębica Passio 2 summer tyre is the latest addition to the Passio product line, which is one of the most popular summer tyres in Poland, according to the Polish manufacturer (owned by the Goodyear group).

Dębica Passio 2 is said to offer a 16 per cent higher mileage performance than its predecessor. According to the manufacturer, the tyre shows improved performance in almost all characteristics, including driving and braking on wet surfaces as well as higher resistance to aquaplaning. Consequently, Dębica Passio 2 offers compact and mid-size cars improved performance on all road surfaces.

12th February 2008/by Tyrepress Editors

Double Coin Introduces North America Fleet Program

Double Coin Truck Tire is rolling out a fleet programme for its North American customers. Known as the Double Coin National Account Fleet Program, the scheme enables medium and large-sized trucking fleets to purchase high quality Double Coin TBR products at competitive pricing through the extensive dealer network across North America.

“Fleets that have a large geographic coverage across North America currently purchase Double Coin truck tyres from local dealers independently. This program now allows these fleets to receive standardised, centralised pricing and billing direct from Double Coin,” company officials said.

7th February 2008/by Tyrepress Editors

Spring Price Hike For Toyo Tire USA

Toyo Tire U.S.A. Corp. has announced that it will increase pricing on consumer and commercial products up to six per cent. The new prices are effective from March 1, 2008.

“Due to continued escalating increases in raw materials, energy, and transportation costs we must increase our prices on consumer and commercial tires,” said Steve Weinger, senior vice president, sales & marketing, Toyo Tire U.S.A. Corp. “We wish to thank our dealers for their continued support and assure them Toyo remains dedicated to providing the highest level of product quality and customer service.”

5th February 2008/by Tyrepress Editors

CTNA Drawing Profits from Passenger/LCV Segments

Continental Tire North America says its passenger/light truck tyre division will finish 2007 in the black for the first time in a decade. CTNA CEO Matthias Schonberg and Andreas Gerstenberger, executive vice president of sales and marketing for the unit, shared the news with trade media on February 1. While exact figures are not available yet, the pair assured that CTNA’s passenger/light truck tyre unit ended 2007 with a profit. There was no word on the financial results of CTNA’s commercial tyre business.

Contributing to the group’s results was accelerated sales of General brand products in North America, they said, driven by the General Altimax powerline introduced last year. CTNA officials said some 1.2 million Altimax units were sold in 2007, far exceeding expectations. Production rationalisation in North America, the expansion of CTNA’s plant in Mt. Vernon, Illinois, and the addition of a new plant in Brazil also helped drive the year’s results, they said.

4th February 2008/by Tyrepress Editors

Barrick to Fund Yokohama OTR Tyre Expansion

Further to the January 30 announcement that Yokohama Rubber has signed an OTR tyre supply agreement with Barrick Gold Corporation, the mining giant disclosed it has provided Yokohama with financial assistance to upgrade its facilities in preparation for supply.

The 5 billion yen (£23.57 million) expansion includes a new building, production line, and related equipment, and according to a statement released by Barrick these additions will be primarily funded by a US$35 million loan made available by the company. Start up, Barrick adds, is scheduled for late in the fourth quarter of 2008.

31st January 2008/by Tyrepress Editors

Bike Tyrestore Wins British Dealer News Award

Bike Tyrestore (BTS) has won the “Best Trade Service” award during the British Dealer News Industry Awards ceremony, following day one of the 2008 Motorcycle Trade Expo Show. Presented by industry personality Peter Gleave, the trophy was presented to Bike Tyrestore’s Managing Director, Peter Smith. The award follows a survey of motorbike tyre dealers (conducted by British Dealer News) that resulted in BTS being described as the best trade service. During the presentation citation BTS was described as being “recognised not just for its excellent service but for the breadth of its service.” The citation continued: “Next day delivery and competitive pricing is normal these days, but this company goes the extra mile with a free phone order service, free technical training for dealers’ staff, a weekly trade newsletter and customer invitations to their highly popular track days.”

28th January 2008/by Tyrepress Editors

Michelin Releases Latest UK Guide

Gastronomes take note – Friday January 25 is the launch date for the Michelin Guide Great Britain & Ireland 2008. Priced at £15.99 (€23.20 in the Republic of Ireland), this year’s guide includes 15 new one-star restaurants, and making the list of ‘Rising Stars’ for 2008 are five establishments tipped for one star and three that are serious contenders for two. There are also 33 new Bib Gourmand establishments, offering ‘good food at moderate prices’ – three courses for less than £28 (€40 in Ireland).

The Guide’s editor, Derek Bulmer, says: “Informal dining, greater use of locally grown produce and seasonality are the trends evident in this year’s guide. Customers are demanding more information about food provenance and sustainability, and chefs are responding by rediscovering local ingredients.”

23rd January 2008/by Tyrepress Editors

Deldo to Introduce Expanded Minerva Range

Since its introduction in 1992 Minerva has become well known as a private brand from Deldo. To give the brand more continuity and continued development, Deldo has entered into an agreement with two new manufacturers.

Thanks to intensive co-operation with these Korean and Chinese manufacturers Deldo is now able to offer a very competitive size range, with a total of approximately 50 size ranges between 13 and 19-inches available in 2008. The patterns to be introduced have been developed for the European market where quality and uniformity have been the most important starting point.

22nd January 2008/by Tyrepress Editors