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A further temporary closure of Pirelli’s Carlisle factory is scheduled for late June. The company reports that reduced demand for tyres in European markets is the reason behind the June 27 to July 1 shutdown.
Production at the Carlisle site had been increased in May in response to anticipated market stabilisation, however company management reports that short-term demand has reached their “optimistic prediction.”
Peter Taylor the Tyre Recycling Association’s secretary general and long time director of the Imported Tyre Manufacturers Association (ITMA) has been awarded an OBE (Officer of the Order of the British Empire) in a move which is seen as honouring the UK tyre industry’s pioneering work in developing a ground breaking tyre recovery and recycling programme.
“I am absolutely delighted to receive this important honour,” said Peter Taylor: “However without the help and support of other members of the tyre industry and its various trade associations we would not have been able to establish the Responsible Recycler Scheme and make it work as effectively as it does. I am happy to accept this honour on behalf of the UK tyre industry.”
Camfin SpA, the largest shareholder in Pirelli parent company Pirelli & C SpA, has negotiated with its banks regarding a 100 million euro capital increase and a rescheduling of its debt. Camfin’s controlling shareholder GPI, along with a consortium of banks, will guarantee all of the capital increase, Reuters reported. Three new directors will also be appointed to Camfin’s board, making a total of 15 directors.
The banks participating in the debt deal include Banco Popolare, UniCredit, Banca Monte dei Paschi di Siena, Intesa Sanpaolo SpA and Banca Popolare di Milano. “The agreement foresees in addition that up to end of 2011 there will be no dividend distribution and that by 2012 the 49 per cent stakes in Pirelli & C Ambiente SpA and Pirelli & C EcoTechnology are sold,” the company said.
The US International Trade Commission will determine by June 18 whether or not consumer tyres imported from China are harming or have the potential to harm potential tyre manufacturers, and will report its findings to President Obama and the US trade representative the following day.
The partnership operating between Watts Industrial Tyres and Continental AG since late 2004 has been replaced by a new strategic alliance with Sri Lankan manufacturer Eu-Retec (Pvt) Limited, who formerly produced tyres for Conti as part of the Watts arrangement. Watts held a 50 per cent share in Eu-Retec until earlier this year.
Continental has officially announced the formation of a joint venture with Eu-Retec, an arrangement in which Conti will take the majority shareholding.
Promo Basics is a range of ready made promotions devised by Brake Engineering for distributors to run, which won’t break the bank and includes rewards such as free newspapers, snacks and drinks.
Designed to fight the credit crunch, when it’s often tempting to cut back on marketing and promotions and just at the time when those activities could be at their most useful, Promo Basics gives the independent distributor an extra, low-cost marketing tool.
The new products, unveiled this week at CMA’s new Memphis warehouse, include fuel-efficient medium truck radials and a new 57-inch OTR radial for mining service. Now available are the Double Coin FR605, FD405 and FT105, described as “ultra-premium fuel-efficient tyres available for steer, drive and trailer positions;” a new mixed service tyre in the Double Coin RR202, an ultra-premium five-rib highway service tire; and the Double Coin RR680 and low-profile RT600 regional all-position/steer tyres. The Double Coin REM-11, in size 3700R57, was developed, said CMA, for “severe mining and haulage applications.” The giant OTR line features heat and cut/chip resistant compounds, application specific patterns for improved traction and longer original tread life; and a durable casing for retreadability.
The net pricing programme, said CMA, “enables federal, state, and local government entities and municipalities to purchase high-quality Double Coin TBR and radial OTR products at net pricing” through CMA’s dealer network. “Many of our products have been purchased by school bus fleets, government vehicles and other municipalities for some time through the local dealer network,” notes Walt Weller, CMA vice president. “This program formally publishes a TBR and OTR schedule and contract number so that anyone who requires a published program can participate in utilizing Double Coin’s value-laden products.” (Tire Review/Akron)
Brandrepublic.asia has reported that Goodyear has appointed advertising agency Euro RSCG Bangkok to find a concept for advertising the new brand DuraPlus in Asia. The DuraPlus is reported to be Goodyear’s entrance to the value-conscious segment of the Asia market, since its key attributes point towards longevity. Matthew Fanshawe, the CEO of the ad-firm, told Brandrepublic that, “The fact that Goodyear is a regional win highlights our ability to engage consumers across different markets with strong ideas, delivering the best result possible for our clients.”
Deutsche Bank upgraded Pirelli to buy in London today. According to The Wall Street Journal the broker said that the stock is likely to outperform estimates. While a capital increase at Pirelli Real Estate is partially to thank for the prediction, it is the improvement forecast in the company’s tyre division from the second quarter that explains the new categorisation. Deutsche also believes that steps will be taken to reduce the holding discount. Shares climbed 4.7 per cent in Milan.
Motorists in the US now have another safe driving resource at their fingertips, thanks to Michelin North America and the Clemson University Automotive Safety Research Institute (CU-ASRI). The two organisations celebrated their long-standing partnership on June 11 with the dedication of a new safety initiative, and took the occasion to remind drivers that proper tyre inflation pressure is a key automotive safety component and a boost to fuel efficiency.
The two parties selected the US National Tire Safety Week to dedicate their new tyre inflation station. The facility, situated near the Clemson University International Center for Automotive Research, shouldn’t be difficult to locate – Michelin notes that the Michelin Tire Inflation Station features a six-foot tall replica of Bibendum, the instantly recognisable Michelin Man.
Tyre production in China during May 2009 rose 21.21 per cent year on year and 7.2 per cent over the previous month to 62.35 million units, the country’s National Bureau of Statistics has announced. The Bureau’s figures total production in the period from January to May 2009 show a 6.6 per cent increase to 237.7 million units
Synthetic rubber production fell 8 per cent year on year to 199,000 tons in May, but for the January to May period increased 0.2 per cent year on year to 1.02 million tons.
BMW Motorrad has approved the Dunlop Roadsmart for use on all R 1200 RT-P police motorcycles in use in the US. The Roadsmart is designed to provide longer tyre life; the multi-compound rear tyre incorporates a longer-wearing compound in the tread centre along with a lateral grip compound in the shoulders for performance when cornering.
“Operating costs for police motors are a major issue for most agencies,” observed Frank Stevens, Authority Program Manager, BMW Motorrad USA.
Around 140 earthmover dealers converged upon the Spanish provincial capital Almeria in early June. And while the port city’s mild climate is perfect for year-round swimming and its architecture conveys a strong Moroccan flavour, the assembled party were not in town for a short sightseeing holiday – Almeria is also home to the Michelin Technology Center, the world’s largest facility devoted exclusively to the development of earthmover tyres. And awaiting the European dealer continent was an assortment of equipment ready for hands-on testing.
Today it is entirely possibly to purchase a road legal set of tyres rated for speeds above 185 miles per hour. Yet the faster a tyre’s rotation speed, the higher the resulting centrifugal acceleration will be. IN order to avoid the possibility of smoky scraps of shredded tread appearing in the rear view mirror, these UHP tyres must be designed to handle such extreme centrifugal forces. This can be accommodated by the use of jointless bandages composed of rubberised nylon or hybrid cords, which can absorb extremely high forces.
India’s Automotive Tyre Manufacturers’ Association (ATMA) is seeking to have the customs duty on natural rubber waived in order to help domestic manufacturers compete against imported tyres. The issue was undoubtedly raised when Apollo Tyres chairman and managing director Onkar S Kanwar met with officials from India’s finance ministry on behalf of the ATMA in early June; as part of its pre-budget memorandum, the industry association has requested a reduction in the customs duty on natural rubber to 10 per cent from the current 20 per cent level. Alternatively, it has been suggested that the duty on the import of tyres could be raised to 20 per cent. Tyre imports from China and Korea, which account for nearly 80 per cent of all imports, currently attract 8.6 per cent duty under the Asia Pacific Trade Agreement.
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