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Analysts praise Goodyear results

Goodyear's first quarter 2011 results were “significantly above expectations” according to investor information published by Goldman Sachs. In addition to stating that the results were above their estimates, the analysts said Goodyear’s figures came in ahead of the wider consensus, “driven largely by a $361million tailwind from pricing and mix” which was way above the $278 million projection. According to Goldman Sachs, this increase is impressive because it exceeds the $300 million per quarter the market was typically able to absorb in periods of high inflation.

3rd May 2011/by Tyrepress Editors

Toyo Tires sponsors UFC Lightweight fighter

Toyo Tire USA has announced that it will sponsor the Ultimate Fighting Championship Lightweight division fighter, Anthony “Showtime” Pettis as a Team Toyo Athlete for 2011. “I am proud to represent Toyo Tires,” said Pettis. “Toyo has always been a major supporter of mixed martial arts and I am honoured that they have selected me as an ambassador of their brand.”

22nd March 2011/by Tyrepress Editors

Rhein Chemie sales up 40% in 2010

In 2010 the Rhein Chemie Group achieved a 40 per cent year-on-year growth in sales; the wholly owned Lanxess subsidiary says its 283 million euro sales for the year outstrip those of the “record” year 2008. “We can clearly see that the rigorous implementation of our growth strategy is bearing fruit,” stated Dr. Anno Borkowsky, CEO and president of Rhein Chemie Rheinau GmbH. “In Germany, we increased sales by 30 per cent while in Asia growth was even stronger.”

21st March 2011/by Tyrepress Editors

Takahashi Named Bridgestone Americas Chairman

A new chairman of the Board of Directors at Bridgestone Americas has been announced as part of a raft of senior management changes within Bridgestone Corporation. Taking on this role is Koki Takahashi, currently vice chairman and chief financial officer at Bridgestone Americas. He steps into this new position on March 18 and he replaces Masaaki Tsuya, who has served in the role in an interim basis in addition to his regular offices since January 1. Takahashi’s successor in the position of CFO will be announced at a later date, Bridgestone notes.

21st February 2011/by Tyrepress Editors

Yokohama HPT Introduces A005 Radial Tyre for UK’s Sports2000 Series

The UK distributor for Yokohama tyres, Yokohama HPT, has announced the introduction of a new specification race tyre to the UK. The A005, developed for the Sports2000 race series, replaces the now discontinued bias tyre used by the series. Sports2000 has exclusively used Yokohama tyres, supplied by George Polley Motorsport, for 25 years, up to and including 2010. The series is based on sports prototype-style single seaters, using either the Ford Pinto or Duratec engine and its value and fun-conscious approach means huge grids every season.

26th January 2011/by Tyrepress Editors

Chinese Tyre Makers Discuss Ballooning Rubber Prices

The China Rubber Industry Association has referred to rising rubber costs as a ‘grim situation’. The CRIA reports that rubber prices, currently approaching RMB 40,000 per ton, have caused tyre production costs to increase by 50 per cent and squeezed profit margins to a record low, with year-on-year profits declining by up to 50 per cent last year. In light of this industry crisis, seven CRIA members met in Beijing on January 13 to discuss possible countermeasures.

17th January 2011/by Tyrepress Editors

Yokohama Tire Corporation Announces Management Promotions

Several strategic management promotions have been implemented by Yokohama Tire Corporation in the US, including the promotion of Dan King from vice president of sales and marketing to senior vice president of sales and marketing. “Dan has been highly instrumental in securing strong performances for Yokohama, including a record year in 2010,” remarked Yokohama Tire president and CEO Takao Oishi. “This promotion reflects Dan’s continued high level of performance, as well as his expanded role since the retirement of Jim MacMaster (former executive vice president and chief operating officer) last year.”

17th January 2011/by Tyrepress Editors

Cam Appoints Business Development Manager

Kelli Diener has joined Cam Systems as business development manager reporting into Steve Daly, commercial director. She will be responsible for managing and developing client relationships to director level, ensuring service delivery excellence and effective customer communications.

13th January 2011/by Tyrepress Editors

Michelin Throws Down City Transportation Gauntlet for 2010 Challenge Design

Introduced in 2002 to give designers around the world an opportunity to promote their work, the Michelin Challenge Design programme is now in its tenth year. During this time the number of designs submitted has increased some 700 per cent and designers from 98 countries have taken part. Pre-registration for the 2012 Michelin Challenge Design has commenced, and the tyre maker says initial feedback indicates a record year awaits.

12th January 2011/by Tyrepress Editors

January 12 Set as Record Date for Elgi Amalgamation

The Bombay Stock Exchange reports that on December 16 the Madras High Court of Judicature passed an order approving a scheme of amalgamation and arrangement between Elgi Rubber Company Limited and Treadsdirect Limited and Elgi Rubber International Limited and Titan Tyrecare Products Limited and Treadsdirect (India) Limited. This order was received by the company on December 29, 2010, and January 12 has been fixed as the record date to determine equity shareholders of the Company entitled to receive one Elgi Rubber International Limited equity share for every five equity shares held in the company.

4th January 2011/by Tyrepress Editors

Alba Diagnostics Appoints New Sales Manager

Glenrothes based Alba Diagnostics Ltd, purportedly the manufacturer of the world’s “number one brake fluid tester” has appointed Gavin Wheeler as its new UK sales manager. With experience in the motor trade, Wheeler has both a mechanical background, linked with what his new employer called “a first-class track record” in sales.

6th December 2010/by Tyrepress Editors

Metzeler Renews National Superstock Tyre Supply Agreement

Pirelli recently renewed its tyre supply commitments to the British Superbike (BSB) and Supersport Championships, and now the company’s Metzeler brand has been confirmed as the control tyre supplier for the 1000ccc and 600cc National Superstock championships for a further five years. The German based manufacturer says these two “important production based classes within the prestigious MCE British Superbike series” have great importance as they offer Metzeler the chance to demonstrate the quality of its ‘over the counter’ tyres.

12th November 2010/by Tyrepress Editors

Bridgestone Reviews MotoGP’s 2010 Finale

The last race of the 2010 MotoGP season was an emotional one, marking the departure of Valentino Rossi from the Fiat Yamaha team and of Casey Stoner from Ducati, as well as a number of other riders. Conditions all weekend were good although the mornings were cold and right from the first practice laptimes were fast; in qualifying the top seven riders all lapped under the lap record and pole-man Stoner was almost 0.8seconds under it. Tyre performance was generally good all weekend, with riders favouring the harder option front slick for its extra braking stability and a mix of rear tyre choices in the race.

10th November 2010/by Tyrepress Editors

Cooper Tire to Pay Out 155th Consecutive Quarterly Dividend

Cooper Tire & Rubber Company today announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 December, 2010, to stockholders of record at the close of business 2 December, 2010. This will mark the 155th consecutive quarterly dividend paid by the company.

28th October 2010/by Tyrepress Editors

US Dealer Group Predicts Record Year

The Independent Tire Dealers Group says 2010 is shaping up to be a record year, with an increase in purchases from existing members, several new key vendors and the expansion of its geographic footprint through the addition of new members, according to Michael Cox, president and CEO. He noted ITDG, which has 125 members representing 341 tyre and service center locations in 25 states, will exceed its forecasts for both top and bottom line growth.

26th October 2010/by Tyrepress Editors