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Kraiburg Reports Sales Growth

With sales totalling 80.1 million euros in 2006, Kraiburg Austria has succeeded in improving its figures compared to the previous year. Of this some 58.6 million euros was ascribable to the “Retreading Material” business unit. The retreading specialist was therefore able to post a 6.8 per cent and 5.5 per cent increases in sales compared to 2005. Kraiburg is reportedly satisfied with this result, despite the fact that the profit situation is not quite so positive owing to the 23 per cent rise in the price of raw materials in 2006.

26th March 2007/by Tyrepress Editors

Europa Tyres and Goodyear Dunlop Cut ATV Tyre Price

Europa Tyres Ltd of Langport and Spalding in conjunction with Goodyear/Dunlop have reduced the selling price of Goodyear and Dunlop ATV tyres. The price cut covers the whole ranve from the 23×11.00-10 Dunlop KT869 that fits the Diesel Kawasaki Mule 2500/2510 or the more unusual 24×11-10 Goodyear wrangler sport fitted to the Polaris Xpress 300. “With our new Goodyear and Dunlop pricing structure we can now supply the trade with a quality product that is fitted original equipment to many Honda, John Deere, Kawasaki, Suzuki, Bombardier and Polaris quads to name a few at a competitive price,” company representatives said in an official statement. Europa carries a range of over 20 sizes in both Goodyear and Dunlop brands, and over 25 different patterns.

26th March 2007/by Tyrepress Editors

Maxxis to Build “Centres of Excellence” Network

Maxxis given details of plans to grow its PCR business in the UK by setting up a series of retail ‘centres of excellence’ which will actively promote the brand to the tyre buying public. These centres will be developed throughout 2007 in conjunction with leading independent wholesaler Group Tyre (UK) Ltd, with whom Maxxis has signed an exclusive distribution agreement. The first participating centres are expected to be signed up “very soon.”

“Purchasing is significantly influenced by over the counter advice provided at the point of sale,” says Derek McMartin, managing director of Maxxis International UK plc. “A network of retail centres will provide consumers with a reason to purchase, as well as great prices, and will give us much wider exposure. It will therefore be the major focus of our brand development in the UK during the next couple of years.”

15th March 2007/by Tyrepress Editors

Kwik-Fit Signs First Major Fleet Deal With Enterprise Rent-A-Car

Kwik-Fit Fleet has won its first major vehicle servicing fleet deal with one of the UK’s largest suppliers of rental cars. The fast-fit giant will become the preferred servicing supplier of the 30,000 cars and light commercial vehicles on the Enterprise Rent-A-Car fleet.

In the UK, Enterprise Rent-A-Car is a major provider of vehicles to corporate and public sector fleets as well as offering replacement vehicles and courtesy cars. The company started in the UK in 1994 and operates from more than 300 locations. The majority of Enterprise Rent-A-Car branches are within five miles of a Kwik-Fit centre so making it easy for vehicles to undergo an oil and filter change, an interim service or full service depending on mileage.

15th March 2007/by Tyrepress Editors

Goodyear Price Hike Will “More Than Offset Costs”

Following Goodyear’s announcement that it will increase prices on by 4-5 per cent on 1 April, some analysts have suggested that the rise will more than offset raw material costs. The announcement follows similar moves by other premium manufacturers (namely Michelin and Bridgestone).

12th March 2007/by Tyrepress Editors

Analysts: Cooper Stock Worth ‘A Second Look’

Shares of Cooper Tire & Rubber Co. hit a 52-week high on 2 March, despite reporting a more losses in its fourth quarter results. Cooper shares rose $1.18, or 7 per cent, to $18.24 in midday trading on the New York Stock Exchange. They had peaked at $18.45 earlier in the session.

5th March 2007/by Tyrepress Editors

Pirelli’s New Hero

Not many people are given the opportunity to co-star on screen alongside Uma Thurman, and even fewer tyres are afforded this privilege. So it is safe to say that the Pirelli’s new P Zero – christened ‘P Zero the Hero’ and subject of Mission Zero, Pirelli’s new short film starring the glamorous actress – is not your everyday run of the mill tyre.

22nd February 2007/by Tyrepress Editors

Goodyear Reports $20 billion Sales, $358 million Net Loss in 2006

Goodyear’s net sales for 2006 were a record $20.3 billion, up 3 per cent despite a 5 per cent decline in tyre unit volume. However strike costs of $367 million meant the company recorded net losses of $330 million, compared to net income of $228 million in 2005. The company estimates that the strike reduced 2006 sales by $363 million, tyre volume by 2.8 million units and net income by $367 million. Tyre unit volume was 51.2 million units in the fourth quarter, compared to 55.7 million units in the 2005 period.

16th February 2007/by Tyrepress Editors

Michelin Reports 16.4 billion euros Sales, 35.5% Drop in Net Result

Michelin’s full-year net sales totalled 16.4 billion euros in 2006, up 5.1 per cent following a 3.6 per cent increase in 2005. According to the company, Michelin’s price mix effect remained favourable (+4.7 per cent of sales). This, together with internal cost reductions enabled the group to offset most of the 800 million euros burden caused by increased raw material prices in 2005. However, the manufacturer’s net result was down 35.5 per cent to 573 million euros, reflecting large non-recurring restructuring and industrial plant closure charges. Operating income totalled 1.118 billion euros, down 29 per cent.

15th February 2007/by Tyrepress Editors

Goodyear Creates New Internal Organisation

(Akron/Tire Review) Goodyear’s North American Tire division has created a new internal team called the Customer Development Organization.

The announcement was made this past weekend at Goodyear’s annual dealer conference in Orlando, Florida.

6th February 2007/by Tyrepress Editors

Cooper Tire Stock Upgraded

KeyBanc’s Saul Ludwig has upgraded Cooper to “Buy” from “Hold” and increased his 2007 earnings prediction for the company. The Associated Press quote Ludwig as saying: “Following seven money-losing quarters, the pendulum is about to swing in a positive direction, in our opinion.”

29th January 2007/by Tyrepress Editors

GITI Tire Issue Completed

Pricing of GITI Tire’s $200 million secured note concluded a day late on 19 January in Hong Kong. The bond will list in Singapore. Apart from helping its parent, the proceeds are expected to be used for capital expenditure, general corporate purposes and possible acquisition of other tyre businesses.

22nd January 2007/by Tyrepress Editors

Replacement Demand Driving UK Garage Equipment Sales

Replacement demand is currently the most important driver in the European mechanical testing and material handling equipment market. Products from established manufacturers are increasingly being replaced by novel offerings from new participants, driving competition and volume sales, according to Frost & Sullivan.

The research firm said the European mechanical testing and material handling equipment market earned revenues of 566.8 million euros in 2005 and estimates this will reach 725.73 million in 2012. “As customers attempt to constantly update and equip themselves with the latest technologies, they are no longer willing to limit themselves to traditional manufacturers,” said F&S senior research analyst Benny Daniel. “End consumers are signing contracts with manufacturers with these competencies, generating fresh demand for garage equipment as a result.”

13th December 2006/by Tyrepress Editors

Tyre Bay Direct Goes Online

Tyre Bay Direct Ltd is adding to its growing mail order business by launching an online store. The forward thinking company says it is one of the first businesses in its sector to be able to deliver tyre consumables direct to the customer through an e-commerce shop. Tyre shops, garages and servicing departments can now browse the range of products on offer and place their orders online at leisure. The site caters for both the larger and smaller customer with transparent pricing, bulk buy offers and selected special offers on a regular basis.

5th December 2006/by Tyrepress Editors

Herman Trend Alert: Manufacturers Being Squeezed

(Akron/Tire Review) In the United States and elsewhere, structural (non-wage) costs for manufacturers, as a percentage of the total costs, are continuing to rise. According to a study released in September by the U.S. National Association of Manufacturers (NAM), The Manufacturing Institute and the Manufacturers Alliance/MAPI, structural costs increased from 22.4% to 31.7% of the total costs, compared to similar costs for similar companies in nine trading partner countries in 2003. “(This) sharp rise in these non-wage costs represents a significant and long-term problem for our nation’s manufacturers and America’s economy,” said John Engler, president of the NAM.

1st December 2006/by Tyrepress Editors