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Free 30-Day Trial on Cooper 4×4 Tyres

Cooper Tire is so confident in the performance of its acclaimed 4×4 range of tyres that it is now offering an innovative new money-back guarantee. Buy any four new Cooper 4×4 tyres from its extensive range of both on and off road 4×4 tyres from an authorised Cooper Tire dealer in the UK, and if the customer is not completely happy with them, they can return them to their dealer within 30 days for a full refund.

Commenting on the new initiative Tom Edwards Cooper Tire’s UK marketing manager said: ”We understand that for any customer buying 4×4 tyres is a big expense and they want to get it right, so we are offering them the chance to try our tyres without the usual risk associated with getting stuck with something you are not completely happy with. As one of the world’s largest 4×4 tyre manufacturers, we are more than confident in our tyres’ performance and we are prepared to put our money where our mouth is.”

16th May 2007/by Tyrepress Editors

Goodyear Offering Shares to Raise Capital

(Akron/Tire Review) Goodyear Tire & Rubber Co. announced plans to offer 22.5 shares of its common stock, a move that will reportedly raise an estimated $725 million. Goodyear said it expects the shares to be offered at $33.26 per share.

Goodyear is granting underwriters a 30-day option to purchase up to an additional 3.4 million shares to cover any over-allotments.

Goodyear said it will use the proceeds from the offering to repay some $315 million in debt.

10th May 2007/by Tyrepress Editors

Michelin to Change UK Pension Scheme

The retirement plans of 4,000 Michelin employees in the UK – including workers at the Stoke-on-Trent, Dundee and Ballymena plants and ATS employees – have been affected by the company’s planned closure of its final-salary pension scheme to existing members and decision to transfer staff onto a money-purchase plan. The company said this decision was made in the face of a continued deficit of more than £250 million, despite the fund receiving a £100 million top-up in recent years. In 2002 the company’s UK pension deficit sat at only £57 million.

The proposed changes would see members of its pension scheme cease building up any further benefits from January 1, 2009. Accrued pension benefits will be preserved and will remain linked to the employee’s final salary at retirement. Michelin stated that it plans to pay off the deficit in its final salary scheme over the next decade.

8th May 2007/by Tyrepress Editors

Stapleton’s Unveils New Look ProfitLink

Stapleton’s, one of the UK’s largest tyre wholesalers, has refreshed ProfitLink, its online stock ordering site. As one of the first distributors to offer an online ordering system, Stapleton’s understands how important it is for customers to be able to view stock availability before placing an order. Stapleton’s trading director, Steve Parker, commented: “ProfitLink has been available for a few years now and has been very successful. We’ve had fantastic feedback from customers about how easy it is to use and how much they rely on being able to check availability of stock.”

“ProfitLink is a sophisticated business tool used by many customers and is growing in popularity. It allows customers to place orders directly via their computer as well as accessing manufacturer’s technical information, view images of the tyres to help with identification of tread patterns.”

The new look site maintains the easy to navigate drop down menus, live stock and up to date pricing information along with the ability to manage accounts at anytime by checking the progress of orders and viewing or printing copy invoices.

25th April 2007/by Tyrepress Editors

Stapleton’s Unveils New Look ProfitLink

Stapleton’s, one of the UK’s largest tyre wholesalers, has refreshed ProfitLink, its online stock ordering site. As one of the first distributors to offer an online ordering system, Stapleton’s understands how important it is for customers to be able to view stock availability before placing an order. Stapleton’s trading director, Steve Parker, commented: “ProfitLink has been available for a few years now and has been very successful. We’ve had fantastic feedback from customers about how easy it is to use and how much they rely on being able to check availability of stock.”

“ProfitLink is a sophisticated business tool used by many customers and is growing in popularity. It allows customers to place orders directly via their computer as well as accessing manufacturer’s technical information, view images of the tyres to help with identification of tread patterns.”

The new look site maintains the easy to navigate drop down menus, live stock and up to date pricing information along with the ability to manage accounts at anytime by checking the progress of orders and viewing or printing copy invoices.

24th April 2007/by Tyrepress Editors

Michelin Tempts Aircraft Tyre Buyers

On April 1 Michelin Aircraft Tire Company in the US launched a promotion through its Authorized Service Centers intended to lure potential customers over to the French brand. The “Upgrade to Michelin” program tempts customers with an 20 per cent instant rebate should they choose to convert all the main landing gear tyres on their aircraft from a competitor’s brand to Michelin. Those converting all main and nose landing gear tyres on their aircraft will receive a 25 per cent discount on the purchase price of their Michelin tyres.

Terry Schultz, director of general aviation sales for the Michelin Aircraft Tire Company believes that the program “challenges existing centres to utilise the tools and resources we have designed to expand their sales and receive rewards in return.” The offer covers purchases of Michelin AIR X, Michelin Air, and Michelin Aviator products.

19th April 2007/by Tyrepress Editors

Nexen Dealer Programme Proving a Success

The Nexen Key Dealer Programme, introduced at the beginning of the year by Stapleton’s is being well received by tyre retailers. Steve Parker, Stapleton’s trading director says: “We are delighted that the scheme is proving to be such a success but are happy to admit that it has not come as a surprise. The programme is our way of rewarding and supporting those customers who consistently support the Nexen brand and in return for committing to purchase from Stapleton’s, customers can enjoy a number of attractive benefits that really support their businesses.”

Members of the scheme benefit from a personalised reward programme which includes preferential purchasing prices, in store support in the form of leaflets and posters, branded merchandise and lifetime guarantees on products. Each member also receives a dealer reference catalogue.

18th April 2007/by Tyrepress Editors

Ryder Re-ups With BFNAT, Bandag

(Akron/Tire Review) Bridgestone/Firestone North American Tire and Ryder Systems Inc. have renewed their tyre supply contract – with a slight twist. Under the new deal, Bandag Inc. will provide Ryder with retreading services, while BFNAT will provide new tyres and related services such as just-in-time delivery, tyre and wheel maintenance and emergency road services.

BFNAT and Bandag will service Ryder through their respective dealer networks. BFNAT has had a tyre supply contract with Ryder since 1990.

17th April 2007/by Tyrepress Editors

Goodyear Engineering Was Sale “Bad News” for Contitech

Following the news that Goodyear Tire & Rubber Co has sold its engineering products division to Carlyle group, Deutsche Bank analysts have reported that the sale would have been a good purchase for Contitech. It has been widely reported that Continental was interested in both Goodyear Engineering products and Siemens VDO.

26th March 2007/by Tyrepress Editors

Vogue Tyre Launches Redesigned Site

(Akron/Tire Review) Vogue Tyre has redesigned its Website – www.voguetyre.com – to give consumers and retailers enhanced access to tyre, wheel and accessory product information and to locate a nearby Vogue dealer.

“This new Web site represents the culmination of months of work and discussions with our customers, our dealers and automotive enthusiasts around the country,” said Doug Dodson, Vogue’s vice chairman. “These days anybody can build a Website just like anyone can purchase a set of tyres. What sets this Web site apart from others is the same thing that sets our products apart from the competition: style and function.”

22nd March 2007/by Tyrepress Editors

Michelin Puts Up the For Sale Sign in Nigeria

International News

On March 21 Michelin invited prospective investors to submit expressions of interest in its soon to be closed factory in Nigeria. The company released a notice stating that the company “wishes to invite expressions of interest for the purchase of all or part of the Michelin factory in Port Harcourt,” and specified that applicants could be either local or international businesses capable of demonstrating a proven track record in project development, strong financial capabilities and technical expertise in their field.

The closing date for bids is March 30, and Michelin has said that suitable applicants will be invited to attend a detailed presentation of the factory and related assets.

22nd March 2007/by Tyrepress Editors

Dunlop India Approved for Stock Market Trading

Dunlop India Ltd shares are ready to trade on India’s stock exchanges again more than four years after being de-listed following the non-payment of listing fees. India’s Board for Industrial and Financial Reconstruction (BIFR) has asked stock exchanges throughout the country to lift any remaining suspensions imposed on the tyremaker.

According to a statement released by Dunlop India, the March 16 order given by the BIFR directed the stock exchanges in Mumbai, Kolkata, Ahmedabad, Chennai and Delhi to lift suspension and also directed both India’s National Securities Depository (NSDL) and Central Depository Services (CSDL) to issue identification numbers for demat of the shares.

The statement also gave news that the BIFR order permitted the company to issue 27 million new shares valued at Rs 10 each (£0.012) by April 15, 2007 and increase the authorised capital from the current level of £8.17 million up to £8.76 million. The tyremaker’s current paid up capital is £5.25 million but after the proposed rights offer this will increase to £8.4 million.

19th March 2007/by Tyrepress Editors

Italian Banks may Buy Pirelli’s Telecom Italia Share

A consortium of Italian banks and financial institutions are reportedly considering the purchase of Pirelli & C SpA’s stake in Telecom Italia SpA at 2.8-2.9 euro per share. The price is an increase from a previous offer of 2.6 euro per share and close to Pirelli’s request of 3.0 euro per share, and the deal may include an adjustment mechanism that would further benefit Pirelli.

However the Italian newspaper Il Sole 24 Ore has stated that Unicredito Italiano SpA does not want to take part in the consortium, which could complicate arrangement of any agreement. It added that Banca Monte dei Paschi di Siena SpA is also cautious about a deal and cited Capitalia SpA’s chairman Cesare Geronzi as saying that time is needed to find a solution.

16th March 2007/by Tyrepress Editors

Michelin to Open First US Retail Store

Michelin announced on March 7 that it will open its first North American retail store, Michelin on Main, not far from the site of its US headquarters in Greenville, South Carolina. The store will offer Michelin branded mobility and lifestyle products, as well as advice on the company’s tyre products. Customers will be able to obtain information on the tyres best suited to their vehicles and then be referred to a local Michelin dealer to complete their purchase.

8th March 2007/by Tyrepress Editors

Stapleton’s Offers Full 4×4 Range

As one of the largest wholesale distributor of passenger car tyres in the UK, Stapleton’s aims to ensure it has a tyre suitable for every retailer and in every price bracket by stocking all major brands of 4×4 and SUV tyres.

28th February 2007/by Tyrepress Editors