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Dow Europe May Divest Synthetic Rubber Wing

According to reports, Dow Chemical Company has said that its Dow Europe GmbH (Dow) subsidiary is “exploring divestiture options for its synthetic rubber business.” No further details or timeframe have been released at this stage, however, the move is being seen as part of the company’s ongoing work to streamline its portfolio of businesses. Dow’s Synthetic Rubber business produces and distributes synthetic rubbers. The business is located in central Germany and includes five production plants and a research centre in city of Schkopau.

12th May 2009/by Tyrepress Editors

Sumi Rubber Indonesia’s 100 Millionth Tyre Rolls Out

P.T. Sumi Rubber Indonesia, Sumitomo Rubber Industries’ Indonesian subsidiary, produced its 100 millionth tyre on Monday 27 April 2009. Sumi Rubber Indonesia started operation in April 1997 as Sumitomo Rubber’s first tyre production base in Asia. The Indonesian company has since supplied tyres in Indonesia, Japan and globally. At the same time, the company worked actively on reduction of burden on the environment and obtained ISO14001 certification in August 2003. It attained the zero emission in December 2004 and the complete zero emission in August 2008 as one of the companies to obtain it fastest in Indonesia. The factory employees 3000 and produces 4200 tons a month, according to company literature.

12th May 2009/by Tyrepress Editors

NASDAQ Chastises Hayes Lemmerz Over Late Results Publication

On 4 May 2009 Hayes Lemmerz International, Inc. received an exchange listing non-compliance letter from the Nasdaq stock exchange notifying the company that it was “no longer in compliance with the rules for continued listing according to Listing Rule 5250(c)(1),” which refers to the prompt publication of financial results. According to a statement issued by Hayes Lemmerz, the letter comes as a result of its failure to file its annual report on Form 10-K for the fiscal year ended 31 January 2009 with the US Securities and Exchange Commission. Hayes has until 3 July 2009, to submit a plan to regain compliance with Nasdaq’s continuing listing standards. The company says it expects to file its Form 10-K on or before 15 May 2009. The notification has no effect on the listing of the common stock of Hayes at the moment.

12th May 2009/by Tyrepress Editors

Yokohama Rubber Posts Net Loss in Latest Fiscal Year

Yokohama Rubber Co., Ltd., has posted a net loss of 5.7 billion yen (£38.7 million) for the financial year ended 31 March 2009, compared with net income of 21.1 billion yen (£142.6 million) in full-year 2008. This came as a result of operating income declining 61.3 per cent, to 12.8 billion yen (£87 million), on a 6.2 per cent decline in net sales, to 517.3 billion yen (£3.5 billion). The company’ s Tire Group saw operating income plummet 62 per cent, to 9.9 billion yen (£67.4 million), on a 4.8 per cent decline in sales, to 399.7 billion yen (£2.7 billion).

12th May 2009/by Tyrepress Editors

MotoGP Competition “Tight” with Single Tyre Supplier

Previewing the fourth round of this year’s MotoGP championship, which takes place at Le Mans at the weekend, Hiroshi Yamada predicts that competition will continue to be fierce following the presence of three different riders at the top of the leaderboard after each of the first three Grand Prix weekends: “We’ve now had three races of this new season with Bridgestone supporting all riders and teams as the series’ Official Tyre Supplier, and in this time I am very pleased to have seen three championship leaders. Casey is only 11 points behind Valentino and Jorge and Dani are tied on points for third position, so we could see another change at the French Grand Prix.

“Valentino will want to win to keep himself on-track for his 100th victory in Mugello and Casey will want to make amends for last year’s race, but Jorge and Dani are also fast at Le Mans, Colin Edwards has performed well there in the past and after his excellent fourth position in Jerez, Randy de Puniet will carry a lot of confidence into his home grand prix so I think competition at the front will be tight. We had full wet race in 2007 and last year rain fell in the middle of the race, so I hope this year we will have another exciting battle but with dry conditions!”

12th May 2009/by Tyrepress Editors

Ferrari to Quit F1?

Formula One’s off-track happenings continued to rival its race-days in terms of drama as the sport’s longest running and most successful team issued a stunning ultimatum, threatening to end its involvement if proposed budget cap rules are implemented next season.

FIA chief Max Mosley has proposed a system that would allow teams remaining within a £40 million budget cap to operate with fewer technological restrictions than those that chose not to. Ferrari argues that this would create a two-tier championship stating, “The same rules for all teams, stability of regulations, the continuity of… endeavours to methodically and progressively reduce costs, and governance of Formula 1 are priorities for the future. If these indispensable principles are not respected, and if the regulations decided for 2010 will not change, Ferrari does not intend to enter its cars.”

12th May 2009/by Tyrepress Editors

CEAT Tyres Inaugurates First Wheel Management Centre

In India CEAT Tyres has opened its first wheel management centre at Sankagiri in Tamil Nadu. The Economic Times reports that the centre is set to be a hub for the service and maintenance of truck radials.

The company’s vice president, sales and marketing, Arnab Banerjee told the paper, “Service and maintenance of a tyre means proper alignment, greasing and retreading in periodic intervals, nitrogen filling in tyres, and various other measures to improve tyre life and fuel efficiency of the vehicle.” He also suggested that the centre would be used for driver-based training.

It is reported that the company is tapping into the local industrialised market of 10,000 trucks, 25 per cent of which run on radials compared to the Indian average of 10 per cent.

12th May 2009/by Tyrepress Editors

Financing Deal on New Goodyear HQ Agreed

On Monday Akron and Summit County authorities in Ohio signed off on a new financing deal for the Goodyear Riverwalk project. The financing is a major step towards an estimated $900 million project that includes a new global headquarters for Goodyear Tire & Rubber Co., retail and office space and a hotel in East Akron. National City Bank has agreed to buy $17.2 million worth of bonds issued by the Summit County Port Authority and backed by the county and city, thus kick-starting the plans. The project was unveiled in late 2007, and was a major factor in keeping Goodyear and its 2,900 jobs in Akron.

12th May 2009/by Tyrepress Editors

Starco Launches New ATV Range in UK

Starco has announced the launch of its new range of low cost, good quality ATV tyres. The brand, which has been previously established on the US market, will run alongside Starco’s existing Kenda line up, a move that the company says will offer customers greater choice.

The range includes both crossply and radial sizes and is available with a choice of tread designs to suit all applications and conditions. Starco’s warehouse in Rugeley, Staffordshire holds £3 million of stock, comprising comprehensive ranges of wheels, tyres and tubes for not only ATV but also turf, wheelbarrow, high speed trailer, industrial forklift, implement, skid steer and small materials handling applications. In response to customer demand and market trends, the ATV addition to the existing range is designed, says Starco, to maintain the company’s position as a major supplier of ATV tyres from the premium to the budget end of the market.

12th May 2009/by Tyrepress Editors

Continental OE on Freightliner M2 Trucks

Continental Tire North America, Inc. is to supply Freightliner with original equipment tyres for all its Freightliner Business Class M2 medium-duty trucks. In addition, Continental’s range of commercial vehicle tyres will be optional on other Daimler Trucks North America LLC (DTNA) brands including Western Star trucks, Thomas Built buses, Freightliner Custom Chassis Corporation chassis and all other Freightliner vehicles.

Melissa Clausen, Freightliner Trucks’ director of product marketing commented: “Continental’s heavy steer tyres complement our proven engineering for the Business Class M2 trucks. The M2 is designed for maximum reliability and fuel efficiency, and this is what we found in Continental’s product offering.”

12th May 2009/by Tyrepress Editors

Semperit Offers Speed-Life Affordability

Semperit’s tyre, the Speed-Life represents the Continental second-brand’s affordable entry into the high performance market place. It benefits from an advanced generation silica compound, which gives the tyre better handling characteristics in the wet as well as reduced fuel consumption.

The use of offset tread blocks of varying sizes enables the contact between the tyre and the road to be staggered, this minimises the noise output to give a quiet and comfortable drive.

11th May 2009/by Tyrepress Editors

Stapleton’s Boast Own Brand HP Tyre and Nexen Exclusivity

Stapleton’s offers a substantial range of high performance tyres including its own brand Prestivo and tyres from the manufacturer Nexen, from whom it holds distribution exclusivity. Prestivo, Stapleton’s own brand range of tyres, is positioned as a quality mid-range tyre. The brand will be available in new sizes and tread patterns later in the year. The range is available exclusively to members of Stapleton’s Prestivo Partners scheme and ensures all retailers receive the backing and support they need to maximise sales of Prestivo tyres. Stapleton’s other exclusive high performance brand is Nexen. The range is available in more than 140 patterns and sizes, ranging from family to high performance cars.

Describing the Prestivo 2000, Stapleton’s trading director, Steve Parker, said, ”The Prestivo 2000 gives a sense of assurance. This performance tyre provides a smooth and comfortable ride. It offers confidence across all road conditions with longevity.” On the Sport iteration of the series, he commented: “The Prestivo Sport offers true driving pleasure. You can feel reliable acceleration, braking and cornering in everyday driving. Aggregated and advanced technology gives this tyre sport and comfort performance.”

11th May 2009/by Tyrepress Editors

Al Saeedi Named Maitech Best Dealer

Al Saeedi Middle East FZ Co. was recently named as Maitech Tyres’s Best Dealer 2008. The award was presented Ian Thomas, Maitech director international sales in a ceremony held at the Intermat show in Paris.

The Maitech range includes all-steel off road radials with sizes to suit many different types of construction equipment. The Maitech range of steel radial UM3/UM5 tyres covers 15.5R25, 17.5R25, 20.5R25, 23.5R25, 26.5R25 and 29.5R25. In particular Maitech tyres are said to be highly resistant to shoulder and tread cuts and hence enjoy a greatly extended life for maximum cost effectiveness. This extended life, combined with the Maitech’s ability to wear evenly, results in lower costs per kilometre and therefore reduced overall machine operating costs.

11th May 2009/by Tyrepress Editors

Goodyear Dunlop to Consult Over ‘Defined Contribution’ Pension Scheme

Goodyear Dunlop Tyres UK Limited is to consult with pension trustees, trade unions and employee representatives over the introduction of a new Defined Contribution (DC) Pension scheme. According to a company statement, the proposed scheme would replace both the company’s ‘Hybrid Scheme’ (combined Defined Benefit final salary and Defined Contribution) and ‘New Hire’ DC scheme. Approximately 850 employees are in the Hybrid scheme and 70 in the ‘New Hire’ scheme.

The consultation will be on the proposed replacement of the current schemes with a new enhanced defined contribution programme. Those who are currently paying into the Defined Benefit (DB) scheme will have their accrued benefits deferred, and the company are proposing the introduction of a new DC scheme for future service to add to the members’ existing benefits.

11th May 2009/by Tyrepress Editors

Goodway Reports Full-Year 2008 Loss

Goodway Integrated Industries Bhd registered 12,559 million Malaysian ringgits of pre-tax loss in the year ended 31 December 2008, compared with 6,702 million ringgits of pre-tax profits in 2007. Chief operating officer Alison Wong Ping Kiong told Malaysian Insider: “It was difficult for us to pass down the cost to customers as the prices fluctuated so much that by the time we price in the extra cost, the rubber prices increased again and vice-versa.” Wong said 75 per cent of the company’s revenue were derived from rubber compound while the remaining 25 per cent came from tyre retreading focused in the local market.

11th May 2009/by Tyrepress Editors