STS has appointed Keith Smith as its new centre manager at its Rainham based fast fit outlet. The new recruit joins STS Man on Wheels from his previous position at Hi-Q Tyre Service, where he was a technician for six years.
Mr Smith will be reporting to Stapleton’s regional manager Guy Wheeler, and will also manage 13 other members of staff.
US freight transport company, ABF, recently changed a set of Michelin front tyres after an enormous 483,000 kilometres, a new record for the French company’s tyres. The tyres were driven in North America driving conditions throughout their life and had not been retreaded. Manufactured at the Michelin plant in Spartanburg, South Carolina, the tyres were fitted as original equipment on a 2003 Sterling truck. This performance represents an improvement of more than 32 per cent over the current US average for a North American long-haul application, according to Michelin.
The board of directors of Carlisle Companies Incorporated has declared a regular quarterly dividend of $0.25 per share, payable on 1 September 2005 to shareholders of record at the close of business on 19 August 2005. This marks the 29th consecutive year of dividend increases for Carlisle shareholders. Richmond McKinnish, Carlisle’s president and CEO commented, “We are pleased to be able to continue Carlisle’s long history of rewarding our shareholders by increasing Carlisle’s quarterly dividend.”
Continental has released second quarter results which show a 28.5 per cent increase in group earnings (EBIT) and consolidated sales of 6.807 billion euros. “In the first six months, we made considerable progress towards our goal of achieving new top figures and are looking at the second half of the year with confidence,” said executive board chairman Manfred Wennemer.
Analysts are predicting that Continental will record strong EBITA growth “in the magnitude of 30 – 35 per cent,” alongside “limited sales growth” when the company reports its second quarter figures tomorrow. “However, this will be nearer 2-3 per cent on a like for like basis due to a particularly strong second quarter in 2004 (i.e. passenger car sales went up 9 per cent in the second quarter of 2004). Due to higher Capex and the full payment of the dividend, we don’t expect any debt reduction in the second quarter. Debt reduction should accelerate in the the third and fourth quarters,” the Deutsche Bank analysts added.
(Akron/Tire Review) Cooper Tire & Rubber Co. declared its 134th consecutive quarterly dividend – 10.5 cents per share on common stock – earlier this week. That marks some straight 33 years of paying dividends each quarter. The dividend will be payable Sept. 30 to stockholders of record at the close of business on Sept. 2, said the company.
The board of directors of Titan International, has approved a quarterly cash dividend of $.005 (one half cent) per common share for the second quarter of 2005. The cash dividend is payable on 15 July 2005, to stockholders of record on 30 June 30 2005.
Sapphire Energy has announced a new safety record of 1000 days free of Lost Time Accidents for all of its six UK processing sites. Commenting on the achievement operations manager Bob Wain said: “Sapphire processes over 14 million tyres per year and handles 1000s of vehicle movements of finished product and whole tyres. This success comes from the safety culture, which has been developed by Sapphire since the company was formed in 2001. The record is of major significance for the industry and covers all staff, contractors and hauliers and was achieved during the construction of two new bespoke tyre processing plants at West Thurrock and Oldbury.” Sapphire awarded all staff with a “Safety Gift” to commemorate the achievement.
Bandag’s board of directors has declared a regular quarterly dividend of $0.33 per share on the company’s Common Stock, Class A Common Stock and Class B Common Stock. The dividend is payable 20 July 2005 to shareholders of record at the close of business on 20 June 2005.
Cooper Tire & Rubber Company today announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 June 30 2005, to stockholders of record at the close of business 3 June 2005. The payment is the 133rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
(Akron/Tire Review) Federal reported that it has achieved a new record for shipments in March. Total shipment value from the company’s Taiwan factory reached $11million, according to Federal.
(Akron/Tire Review) Dan Wire, well-known CEO and chairman of Treadways Corp, has announced that he will retire in early 2006. Mr Wire, who said he will remain as an advisor/consultant to Sumitomo Corporation of America and Treadways until April 2008, will retire effective at the end of Treadways’ next financial year on 31 March 2006.
“A beach party atmosphere, in Yorkshire, in April, may seem a little different from the norm, but that’s how we do things here!” So said Toyo Tyre UK’s marketing director Mike Rignall as the tyre company celebrated its sixth year as official sponsor of the live action arena at the Ripspeed Donny Show.
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The Garage Equipment Association has reported that this year’s annual dinner was once again a success, with ticket sales continuing right up to the eleventh hour. The association’s new chief executive, Dave Garratt, welcomed guests. Mr Garratt’s predecessor, John Nelson, who unfortunately could not attend the dinner delivered a message via video, having been presented with a silver platter by Nevelle Marchant in honour of his service to the association.
(Akron/Tire Review) After four successive years of losses, Alliance Tire Co. reported a net profit of $0.9 million for 2004 in its newly released financial results. The company ended 2003 with a net loss of $13.1 million. But, in 2004, gross profits increased to $31.1 million, compared to $20.4 million in the previous year.
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