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Continental Shares Plummet, Michelin’s drop

Shares in Continental AG have fallen by the most significant margin in seven years – 11 September 2001 – in Frankfurt, leading to the downgrading of the stock by Merrill Lynch. The decline of up to 8.1 per cent today, report financial news sources, sees the stock plummet to 53.65 euros. For the year, Continental’s stock is down 40 per cent, its value now down at 8.7 billion euros. The fall comes as a result of a variety of challenges to automotive stocks including the rapid ascent of raw materials costs and the decline in demand from traditional markets.

Concurrently, French competitor Michelin faced a similarly difficult day on the markets, with shares declining by 5.9 per cent in Paris. Overall, Bloomberg’s Europe Auto Parts & Equipment Index – including the two manufacturers – is down in 2008 by 31 per cent, having included the not inconsiderable hit from today’s declines for its two biggest members, being down 4 per cent for the day.

11th July 2008/by Tyrepress Editors

Maverick USA Monitors More Tyre Pressure

Having reached the end of its first year of the installation of tyre pressure monitoring systems, Maverick USA has decided to expand the initiative. The company, which incorporates Maverick Transportation LLC, Maverick Logistics LLC and Maverick Truck & Trailer Sales, has gathered positive results on the 1,000 integrated systems from WABCO already installed.

The company has claimed that the IVTM systems have led to data that allows the innovation of fuel efficiency methods, as well as the prevention of expensive tyre damage, lowering maintenance costs and decreasing equipment downtime. All of this has led to the plans to expand the installation of the systems to more of the company’s logistic fleet.

11th July 2008/by Tyrepress Editors

Dunlop India Acquires British Component Maker

Dunlop India has bought Schlegel Automotive, one of Britain’s largest auto component manufacturers. The company supplies rubber sealings to major car manufacturers, such as Ford, Toyota and BMW.

Dunlop India has been part of the Ruia Group for three years, when the corporation bought the tyre manufacturer’s ailing Indian operation.

11th July 2008/by Tyrepress Editors

Continental Promotes Two Key Sales Executives

Continental has promoted Phil Scanlan and Tom Whittaker into new roles as European sales director and sales manager – Car Fleets respectively.

Phil Scanlan has moved into the European sales director role responsible for Kwik Fit account after a number of years as fleet sales manager. His key role is managing the Kwik Fit account for Continental across Europe. In the coming months he will be working with Kwik Fit to maximise the new opportunities in supply chain through their new national distribution centre. The European sales director role is based in the UK and reports into the Hanover-based new distribution business unit.

11th July 2008/by Tyrepress Editors

Goodyear Makes US Reputation Top 20

Forbes magazine has bestowed the honour of being named one of the Reputation Institute’s most respected American companies upon the Goodyear Tire & Rubber Company. Goodyear is 16th on the publication’s list, details of which can be found on the publication’s website.

The RI’s criteria for ranking include the organisation’s “seven dimensions of reputation”, which comprise products/services, innovation, workplace, citizenship, governance, leadership and performance. The ratings were generated by the RI’s Global Pulse consumer opinion survey, while the company’s score of 76.0 shows an impressive 7.54 increase on 2007’s score. Goodyear is the sole representative of the tyre manufacturing industry on the list.

11th July 2008/by Tyrepress Editors

Federal Sponsors Top Drift Cup 2008 for Third Year

Federal has secured its sponsorship of this year’s Top Drift competition, giving its name to the trophy. The Federal Cup is one of drift racing’s premier contests, and is held on the West Coast of the USA. This is the third consecutive year in which Federal is the contest’s key sponsor, and the company has entered into the spirit of the exciting contest, in which drivers are judged on their ability to handle high-speed, long-distance slides around the racetrack.

Round Three of the Championship will take place towards the end of September and represents the beginning of the back straight of the contest in which Federal’s US dealer City Tires continues to service 13 of the 16 top drivers.

11th July 2008/by Tyrepress Editors

Probe into Goodyear Plant Explosion Begins

An investigation into the explosion at the Goodyear chemical plant in Houston last month, which killed employee Gloria McInnis, has begun. While her death has been ruled accidental, The US Chemical Safety and Hazard Investigation Board has decided to launch its own enquiry alongside the company’s own probe.

Goodyear is cooperating fully with the investigation, having hosted the CSB since Tuesday. The CSB spokesman Daniel Horowitz stated that they had interviewed witnesses, who confirmed that the accident was caused by the over-pressurisation of a heat exchanger during maintenance, and requested a number of documents from Goodyear. Meanwhile, Goodyear spokesman Scott Baughman released a statement saying that the company had been in touch with the CSB since the day of the fatal accident.

11th July 2008/by Tyrepress Editors

First Stop Appoints North and Scotland BDM

Bridgestone has appointed Kumar Ash Sisodia as a business development manager for its First Stop network of independent tyre dealerships. Responsible for the ‘northern region,’ Ash will work with dealerships across the North of England and Scotland.

Ash brings a wealth of experience to the role having worked within Bridgestone’s consumer sales department as Area sales manager since 2000. Ash, alongside fellow business development managers, Chris Hawkins, Dean Dyoss and Steve Lane will expand the network of quality tyre dealerships which has seen a successful first half of the year.

11th July 2008/by Tyrepress Editors

Romantic Tyre Tamperer Sentenced to Community Service

An Australian man has been sentenced to 100 hours’ community service in Melbourne, Australia after he was found guilty of deflating tyres in order “to meet women.”

The failed romantic flagged down three female drivers, telling them he had seen something fly off their cars, before letting the air out of the women’s tyres. Matthew Grainger’s defence was naivety, blaming his life’s insularity for his misguided attempts to woo potential partners.

11th July 2008/by Tyrepress Editors

Michelin Pressure Check Campaign Visits Stoke

Despite particularly heavy downpours, this month Michelin staff have been giving members of the public free tyre pressure checks – all part of the company’s “Fill up with Air” campaign. The tour (which is being run in parallel across Europe) is designed to communicate messages warning of the dangers and expense that come with underinflated tyres. The plan is to reach out to consumers at high footfall sites, such as: Eurotunnel; Tesco and Asda branches; and Total Fitness gyms. In addition the tyre pressure roadshow will visit Michelin’s Ballymena truck tyre production plant in Northern Ireland.

11th July 2008/by Tyrepress Editors

Pirelli Name-checked on Ferrari Game

Pirelli has been given a name-check, as the virtual-competition sponsor in the title of the new racing game, Ferrari Challenge: Trofeo Pirelli. The Italian tyre manufacturer features in-game, with its tyres expertly modelled in similar detail to the lovingly-rendered cars.

The game, which has received its UK release, has garnered mostly positive reviews and is released on Playstation 3 and 2 platforms, in addition to Nintendo’s Wii and DS.

11th July 2008/by Tyrepress Editors

Mona-flexible: Monarch Vulcanising Systems

An effect of the cost pressures of rising retail prices and the refocusing of companies onto issues relating to the environmental impact of their operations is that organisations are increasingly looking to mend, rather than replace, damaged tyres. Guernsey-based manufacturer of tyre repair machinery, Monarch Vulcanising Systems, is able to provide a number of machines for just this purpose. Not only, Monarch claims, are their Monaflex systems suitable for fixing any tyre used in the world today, they are also easily transportable, relatively simple to use, and quickly assembled.

10th July 2008/by Tyrepress Editors

Scratch This

Innotec Supplies (UK) Ltd is promoting an own-brand Alu Scratch Repair System, designed to repair surface damage to alloy rims in a “quick and professional manner.” And it can also be used on decorative strips, roof rails or any other metal parts. According to the company, the Alu Scratch Repair System gives you a full set of tools to make a repair in about 30 minutes, which can even be done without removing the tyre. The product is priced at £140.00.

The Innotec Alu Scratch Repair System is a set of products specially developed to repair surface damage to metal/aluminium-look parts or objects in a quick and professional manner. Almost all “cosmetic” damages to metal or aluminium look coatings can be repaired, says the company.

10th July 2008/by Tyrepress Editors

Marangoni Sponsors Ultimate Street Car

Maragoni Tyre is to act as title sponsor of the forthcoming Ultimate Street Car (USC) show. The announcement follows the success of Fast Show and more recently Jap Show. Marangoni is returning to Santa Pod, as title sponsor for the USC event, on the 1 – 3 August, 2008. The Marangoni stand will feature a live DJ, girls, project cars and a live Marangoni Pit Stop Challenge. Project cars on display include “the mighty Progetto Marangoni Toyota Yaris” and the UK debut appearance of the Marangoni Fiat 500 Road Car.

Marangoni expects the USC to draw in crowds of over 30,000 visitors, making it the largest modified car event in Europe. The marketing department’s hope is that visitors to Marangoni Fast Show, Jap Show and Marangoni USC will not fail to recognize and accept the brand as a top quality UHP tyre choice.

10th July 2008/by Tyrepress Editors

Delticom Promotes e-Commerce Tyre Sales

Delticom has begun to promote in earnest its e-Commerce platform in North America. Emphasising the ability of internet-based tyre shops to provide a quick, safe and cheap retail environment, the company hopes to capitalise on the rising prices of its high-street competitors.

tires-easy.com, the growing online store of Delticom is an international leader in the field, the most used in Europe, and has won many awards with largely positive customer feedback. The company believes it can save customers up to a quarter of the price they would have paid elsewhere, while the tyres can be delivered anywhere within the working week. The company has 6000 US partners, all of whom are linked on the website using a well-known internet branded map generator.

10th July 2008/by Tyrepress Editors