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Ceat Chooses Consultancy Over Strategic Partner

Ceat Limited is reportedly no longer seeking a strategic partner for its planned radial facility in Baroda, India, and is instead receiving technological assistance and know-how from a US based consultancy firm. The tyremaker has sought a partner for assistance in setting up a more than Rs 6 billion (£72.6 million) truck and bus radial factory for more than a year, and in February Sales and Marketing vice-president Arnab Banerjee felt confident enough on the likelihood of this to say that Ceat “should be able to finalise the partners soon.”

6th August 2008/by Tyrepress Editors

Sealey Gets Ready For Winter

Like it or not, winter is fast approaching and Sealey has come up with a promotion to help keep those winter blues at bay. Launching on the 1st September 2008 with offers valid until the end of February 2009, Sealey’s 64 page ‘Winter Lines’ promotion will see you right through the chill with discounts on many must-have items.

6th August 2008/by Tyrepress Editors

PDP’s Diagnostic Evenings Prove Popular

PDP Diagnostic evenings (Premier Distribution Partnership) have welcomed over 2,000 UK garage customers at introductory evenings to launch a unique Diagnostic Support Programme.

With the help of ADS’ Frank Massey and other leading aftermarket experts, PDP have put together a unique and comprehensive programme unavailable elsewhere in the aftermarket, with the clear goal of educating their UK garage customers in the latest diagnostic and repair techniques.

6th August 2008/by Tyrepress Editors

Obituary – Tony Ryan

We were saddened to learn of the death of Tony Ryan, who was Managing Director of Apaseal before retiring due to ill health in 2000.

Tony Ryan – a Chartered Account – joined Apaseal from Wilkinson Sword in 1972 and handled the difficult financial environment of the 70s, enabling Apaseal to remain a key player in the tyre maintenance market. On his appointment in 1983 to managing director he,alongside a dedicated group of management, set about the task to enhance the company’s main objective to provide a complete service for the tyre distributor with the strategy “everything to do with the wheel other than the tyre and rim.”

6th August 2008/by Tyrepress Editors

Pirelli Tyre 1H Results Show Declining Net Revenue

The Board of Directors of Pirelli & C. SpA, have released the company’s interim financial statements for the half-year ended 30 June 2008. These results show Group revenues of 2.6843 billion euros, an increase of 2.7 per cent compared with the first half of 2007. The company’s EBIT before restructuring charges of 21.2 million euros were taken into account was 211.5 million euros, a decrease of 4.4 per cent compared with 221.3 million euros as of 30 June 2007. The company’s net result was 9.5 million euros lower than the 198.3 million euros recorded in 2007, and in the most recent half year it recorded a net financial position of negative 823 million euros.

6th August 2008/by Tyrepress Editors

Schaeffler Warns Continental Off Capital Raising Defence

Schaeffler Group has warned Continental not to employ a large capital increase as a way of warding off its 11.3 billion euro unsolicited takeover bid. Schaeffler’s move meant dropping a condition that would end the bid if Continental prepared to raise its share capital during the offer period, which is due to end on 27 August. “Schaeffler group thus counters market speculation that its offer to Continental shareholders could be prevented by such…measures,” an official statement explained.

6th August 2008/by Tyrepress Editors

ExxonMobil Expands Halobutyl Capacity to Meet Tyre Demand

A major capacity expansion at ExxonMobil Chemical’s halobutyl manufacturing facility in Texas, USA has recently been completed, the company announced. The capacity expansion was carried out, says ExxonMobil Chemical, in keeping with its commitment to help meet growing demand for halobutyl rubber. By adding equipment and modifying existing facilities, the Baytown plant has increased its capacity to produce Bromobutyl rubber (brominated butyl rubber) by 60 per cent.

6th August 2008/by Tyrepress Editors

Kingpin and Fraser Evans Lose Responsible Recycler Status

Kingpin Tyres Limited has lost its accreditation under the Tyre Industry Federation’s Responsible Recycler Scheme. A statement issued by the Tyre Recovery Association explained that the accreditation has been rescinded effective 31 July 2008.

6th August 2008/by Tyrepress Editors

Saving Fuel & The Environment with Michelin Green Tyres

According to Michelin, more than 9.8 billion litres of fuel have been saved and more than 24 million tonnes of CO2 emissions have been avoided thanks to its green energy-saving tyres, marketed since 1992. The 600 million Michelin green tyres sold worldwide over the past 16 years are reported to have saved more than 45 litres of fuel each second, corresponding to more than 108 kilograms of CO2 kept out of the atmosphere.

Skyrocketing oil prices are impacting the entire global economy and reducing consumer purchasing power, observes the tyre major. With its green tyres, Michelin says it is actively helping to reduce the cost and environmental impact of road transportation, as tyres can use up to one tank out of five for passenger cars and up to one tank out of three in trucks. Michelin states its goal is to design tyres that help reduce fuel consumption while maintaining the same high performance in safety and tread life

6th August 2008/by Tyrepress Editors

Cooper Unloads its Kumho Share

Cooper Tire & Rubber Co. says it has completely liquidated its holdings in Kumho Tire. The purchaser, Cayman Islands based company Beacon, is said to have purchased the 10.71 per cent share in the South Korean tyremaker for 108.7 billion won (£54.6 million).

Kumho said in a filing to the Korea Exchange that Beacon had purchased the 7.5 million shares, each valued at 14,501 won, held by Cooper Tire & Rubber. In addition to the 108.7 billion won, Cooper will receive interest backdated to May 31.

6th August 2008/by Tyrepress Editors

Analysts “Still Cautious” on Cooper Shares

A financial analyst report on the fortunes of Cooper Tire suggests that investors will continue to be cautious with the American tyre manufacturer despite some positive signs.

The Deutsche Bank study states that Cooper’s “‘clean’ EPS loss, adjusted for a ‘normal’ 30 per cent tax rate, would have been ($0.26), compared with our ($0.23) estimate.” This figure is one that the Bank believes will deter investors for the time being, alongside “continued market share declines, high cash burn, lack of identifiable cost reductions, and warnings of further raw material increases.” On the other hand, the analysis states that the company’s plan “to raise prices by ‘up to 10 per cent’ in October” will mean that the share price will retain its strength.

6th August 2008/by Tyrepress Editors

Goodyear Sets 10% North America Price Hike

In the US Goodyear has joined the latest round of industry prices increases, announcing a September 1 price hike of up to10 per cent. The tyremaker said the increase would cover all of its Goodyear, Dunlop, Kelly-Springfield and associate brand passenger, light truck and commercial light truck and medium truck tyres. Separately, prices on Goodyear OTR tyres will increase by up to 7 per cent on September 1. (Tire Review/Akron)

6th August 2008/by Tyrepress Editors

Airless Honeycomb Tyre a Potential Lifesaver

In the US a National Guard unit is trialling a non-pneumatic tyre that could protect military vehicles from becoming sitting ducks in combat zones due to punctures. The tyre, developed by Resilient Technologies LLC and the University of Wisconsin-Madison over a two-year period for the US Department of Defense, features a patent-pending six-sided honeycomb construction.

6th August 2008/by Tyrepress Editors

Welsh Fly Tipper Receives Suspended Prison Sentence

Hand in hand with the increasing prevalence of fly tipping is the desire to penalise the perpetrators behind this crime. On August 7 the Port Talbot Guardian newspaper in Wales reported that a man caught dumping hundreds of tyres in Afan Valley has been given a four-month prison sentence, suspended for 18 months. He was also ordered to pay a £350 contribution towards the council’s costs.

David James was arrested in a joint operation between Environment Agency Wales and South Wales Police, on June 23, 2007, after he was caught on camera dumping up to 650 tyres at the South East Wales beauty spot. Agency officers set up hidden cameras and were assisted by an officer from South Wales Police who is on secondment to the Forestry Commission under the Forest Watch initiative.

6th August 2008/by Tyrepress Editors

Kumho USA Tyre Prices to Increase up to 10%

Kumho Tire USA has announced price increases of up to 10 per cent, with additional in line adjustments, on tyres sold in this market. Prices of passenger, light truck and truck and bus tyre prices, which most recently increased in May, will increase as of September 1, 2008.

6th August 2008/by Tyrepress Editors