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Make Money from Fresh Air

Automotive air conditioning specialists Autoclimate claim that garages are missing out on valuable profit opportunities by not offering an in-house air conditioning service and repair facility.

This is partly due to a misconception that air conditioning is both tricky and hazardous to repair, with mechanics facing a potential risk of frostbite. This view is both outdated and erroneous, says Autoclimate, with better equipment design and new and impending legislation having eliminated any such risks.

22nd June 2005/by Tyrepress Editors

Formula One Autocentres Opts for MAM Software

MAM Software has announced that it has completed the successful installation and commissioning of a new Autopart business management system at independent tyre retail chain Formula One Autocentres. The new system is now fully operational and is being productively used in all 37 Formula One stores across the South, South East and the Midlands.

The installation of this new Autopart software has given Formula One Autocentres a fully integrated system capable of supporting their fast-fit, servicing and MoT business. The system links over 100 users with a central database at the company’s head office in Stevenage. Using dedicated communication technology developed by MAM, it enables Formula One to maintain data centrally and pool statistics from each of its 37 branches. It also provides the ability to transfer stock between branches whenever required.

21st June 2005/by Tyrepress Editors

Sumitomo Rubber to Invest in Thailand

Sumitomo Rubber is reportedly planning to build “the world’s largest quality tyre factory” in Thailand, local media sources have reported. The factory will be base in the eastern province of Rayong and will aim to manufacture 7 million Dunlop branded tyres a year with the first tyres rolling off the production line in 2007, according to the reports.

Wiboon Kromdin, president of the Amata City Co Ltd, said that Sumitomo had already signed an agreement to purchase land for the production plant. The move represents the company’s first investment in Thailand. The location is said to have been chosen due to its proximity to Laem Chabang Port, and Thailand’s position at the centre of distribution to the Asian market.

7th June 2005/by Tyrepress Editors

Bridgestone Closes in on Kwik-Fit Purchase

Bridgestone is taking the lead in the race to acquire Kwik-Fit. According to the Financial Times, the Japanese manufacturer has teamed up with Mitsubishi Corporation to bid for Kwik-Fit and has already seen off early interest from Michelin and Wal-Mart. Bridgestone executives have been in London since last month working on their bid. “They are taking it very seriously,” said one person close to the auction. The Japanese group has a strong presence in the US through its Firestone unit, but has long been trying to crack the European market and looked at Kwik-Fit the last time it was on sale.

3rd June 2005/by Tyrepress Editors

Jiang Xi Federal Tire Doubles Capacity

Federal Tire’s subsidiary in Jiang Xi, China (JFT) will invest $30 million into equipment and people to double annual capacity to 5 million units a year, by the end of 2005. According to the company the investment is required due to an increase in demand for its tyres.

The majority of the investment will go towards the purchase of curing presses, tyre building, uniformity inspection equipment and mixers as JFT increases the size of its current tyres and finalises plans for new additions to its product line. JFT manufactures a range of Hero and Federal brand tyres including UHP, PCR, SUV, light truck.

31st May 2005/by Tyrepress Editors

Cooper Standard Automotive Reports First Quarter 2005 Result

(Akron/Tire Review) Cooper-Standard Holdings, the parent of Cooper-Standard Automotive, has reported results for its first full quarter as a stand-alone company. The company posted revenues of $470.1 million for the first quarter, which ended on 31 March, compared to a record $497 million for the prior year same quarter.

24th May 2005/by Tyrepress Editors

Cooper Sets Price For Tender Offer

(Akron/Tire Review) Cooper Tire & Rubber Co. announced that it has priced its fixed-spread tender offer to purchase the $350 million aggregate principal amount outstanding of its 7-3/4 per cent notes due 15 December, 2009.

Cooper will pay $1,095.05 for each $1,000 principal amount of the notes tendered and accepted for payment in the tender offer, plus $34.44 for accrued but unpaid interest, said the company. The tender offer is scheduled to expire at 5:00 p.m. Eastern Time on Friday, May 20, unless extended, Cooper said.

20th May 2005/by Tyrepress Editors

ATD Releases First Quarter Operating Results

(Akron/Tire Review) American Tire Distributors Holdings Inc (ATD) has announced operating results for the first quarter ended 2 April. Consolidated net sales increased 17.6 per cent to $354.3 million, versus $301.4 million in the first quarter of fiscal 2004, and gross profit increased 10.9 per cent, ATD reported.

19th May 2005/by Tyrepress Editors

Bandag Introduces ProWheel

(Southern Africa/SA Treads) Bandag has launched ProWheel, a tyre tracking software aimed at small and medium sized fleets that require constant, up-to-date monitoring, as opposed to complex reporting.

Introduced as part of Bandag’s aim to offer fleet solutions it believes the new product will assist in the overall reduction of operating costs. Bandag describes the system as having a “practical and easy-to-use interface which will enable its users to comfortably navigate through the system.”

The system was developed with the intention of automating the tyre recording and controlling function by migrating users from a manual system to an electronic format. It records tyre location, mileage, purchase and retread costs and CPK for scrapped tyres. Once this information has been recorded, the system makes a provision for an official report in the form of a Tyre Card containing the entire tyre history.

16th May 2005/by Tyrepress Editors

JK Tyre Tops JD Power India Survey

JK Tyre has received the highest ranking in a customer satisfaction survey of tyres purchased in India. Moving up from third position in 2004, JK Tyre topped the 2005 JD Power list with a satisfaction score of 781 index points on a 1,000-point scale. The industry in general performed marginally better growing one percentage point year-on-year.

6th May 2005/by Tyrepress Editors

Three Offers Made For Pirelli Cables Unit

Shortly after Pirelli announced that it would build a new specialist cable manufacturing plant in Brazil, it has emerged that Pirelli has received three binding bids for majority stakes in its cables business. Goldman Sachs’ and Texas Pacific Group’s offers are seen as the frontrunners for the purchase, a source familiar with the situation told Dow Jones Newswires.

3rd May 2005/by Tyrepress Editors

WRAP to Hold Used Tyre Meeting

The Waste and Resource Action Programme (WRAP) is to hold its first formal stakeholder meeting to consider work on the recycling of waste tyres next month. According to a letsrecycle.com report, the market development organisation is expected to use some of its £4 million funding from Defra’s Business Resource Efficiency and Waste (BREW) programme to further work on tyres.

3rd May 2005/by Tyrepress Editors

Titan Announces First Quarter Results

(Akron/Tire Review) Titan International Inc has reported record first-quarter net income of $11.2 million, up 111 per cent from last year’s first quarter. Net sales were $136.1 million for the first quarter, ended 31 March and gross profit was $24 million. Basic earnings per share also set a record at $0.68 for the quarter, the company said. Classified by segment, revenues were $89 million for agricultural, $39 million for earthmoving/construction and $7.5 million for consumer.

29th April 2005/by Tyrepress Editors

ThyssenKrupp Sells Elastomertechnik

ThyssenKrupp subsidiary, ThyssenKrupp Technologies has sold its Elastomertechnik business. ThyssenKrupp Technologies sold the tyre production machinery firm to the Lubeck based Possehl Group. The new owners have applied for the purchase to be registered retrospectively from the 1 October 2004. Elastomertechnik owns facilities in Hamburg and Freudenberg (Germany) plus Topeka/USA and Belisce/Kroatia. The company made a turnover of 145 million euros in the 2003/2004 financial year.

16th March 2005/by Tyrepress Editors

Goodyear Sells Stow Site

(Akron/TR) Goodyear Tire & Rubber has sold its closed tyre mould plant in Stow, Ohio, to an Akron area developer. Albrecht Inc, a commercial real estate developer that owns and operates a number of shopping centres in the Greater Akron area, bought the 106-acre site for $4.5 million, said Goodyear. The purchase includes land and a 131,500 square foot factory building, at which Goodyear produced tyre moulds from its opening in 1969 until it was closed in 2002.

14th March 2005/by Tyrepress Editors