While financial analysts described the results as “a big beat”, on the day the news was announced Pirelli’s share price fell 10 per cent. Pirelli pre-tax profitability was said to have been better than consensus of analysts’ estimates, mostly due to better price/mix and cost control. Market watchers also welcomed the fact that margins are at record levels.
Pirelli’s 2011 annual report will reflect the tyre manufacturer’s “broader narrative”, presenting detail that goes beyond the numbers in an attempt to capture the spirit of Pirelli. The company said the project will include Art Deco inspired illustrations reflecting the tyre-maker’s values, in addition to texts by internationally renowned authors HM Enzensberger, Guillermo Martinez, William Least Heat-Moon and Javier Cerca. A summary of the report will also be available through a free iPad App.
News out of India indicate Alliance Tire Group is planning to erect a new OTR tyre plant there and boost capacity at another plant. According to a report in the Business Standard, the tyre maker is looking at investing a total of around US$160 million; this will go towards a 50,000 tonne per annum greenfield facility in Gujarat state and to boost output from the company’s Tamil Nadu factory from 48,000 tonnes per annum to 61,000 tonnes. A co-generation plant will also be installed in Tamil Nadu.
At its Annual Shareholders’ Meeting on 27 April, the Continental Corporation reported a “very good start” to this year. During the first quarter of 2012, the company experienced a double-digit year-on-year growth in sales to 8.3 billion euros, with sales in both its tyre and automotive markets stronger. Reported EBIT, at 766 million euros, exceeded the previous year’s figure considerably, and with a margin of 10.6 per cent, adjusted EBIT before acquisition-related amortisation and special effects amounted to roughly 875 million euros, up from last year’s figure of 734 million euros. Continental will publish its first quarter report in full on 3 May.
Collision-avoidance technologies, which could help eliminate cyclist and pedestrian deaths caused by driver 'blind-spots', should be made mandatory for all UK buses and lorries by 2015, according to a new report from the Institution of Mechanical Engineers. The 'Intelligent Transport Intelligent Society' report also calls for automated emergency response systems to be integrated into all new road vehicles within the next two years. These systems automatically alert emergency services in case of an accident – even if a driver is unconscious – as well as providing the exact location of the accident using Global Positioning Systems (GPS).
Trelleborg has published its Corporate Responsibility and UN Global Compact Report for 2011 online. The report is available for download in PDF format from the trelleborg.com website and is also viewable at a dedicated microsite, http://www2.trelleborg.com/en/cr/. Included within its pages is information on all Trelleborg Group activities related to sustainability: environmental issues, climate, health and safety and relations with employees, customers, suppliers and society.
The Goodyear Tire & Rubber Company has announced that it will report first quarter 2012 financial results on Friday, 27 April, to be followed by an investor conference call at 8:30 EST (13:30 GMT). The conference call will be taken by Richard J Kramer, chairman and chief executive officer, and Darren R Wells, executive vice president and chief financial officer.
"Vehicle manufacturers must comply with European legislation and make their technical information available to independent garages" said Stuart James, Independent Garage Association (IGA) Director, speaking to fleet operators at the BVRLA Technical and Operational Management Forum.
FleetMatics GPS has illustrated how its systems have been used to improve the cost efficiency of businesses’ fleets. Growing customer demand led Surrey boiler services company, B&K Boilers Services to employ FleetMatics’ fleet management solutions for commercial fleet vehicles. The company employs 10 registered ‘Gas Safe’ fitters and their management depended on phone calls and check-ins at the office: “As each fitter can complete up to 10 jobs every day, that’s a lot of calls to answer in a week,” said Mr Worthington, B&K Boiler Services Owner. Since fitting the FleetMatics GPS fleet tracking system, Worthington has made scheduling of jobs more efficient, and he can better manage his fitters.
Union workers at Cooper Tire & Rubber Co’s plant in Findlay, Ohio, go to the ballot box today to consider a new five-year contract offer that could end the now three-month long lock out at the plant, reports Tire Review. But according to reports in the Findlay Courier this morning, some USW Local 207 members feel it will be a close vote, even though its 1,050 members have been without a paycheck since November 2011.
Dunlop India has announced the suspension of operations at its Ambattur, Chennai facility because of unrest in its workforce. The decision was taken after workers “practically resorted to illegal strike”, and management staff failed to report to work, fearing for their safety, according to local news sources. Dunlop India’s management say that despite a 2009 agreement with the Dunlop Factory Employees’ Union to bring down production cost to the minimum level at the plant, the union had manipulated attendance and payroll, causing the plant to incur heavy losses. While the plant is closed workers will not be paid, concludes the company.
A man has died after being injured when a heavy goods tyre exploded in Lancashire. According to BBC News reports, the incident occurred at just around 10:00am on 21 February on the industrial estate where Red Scar Tyres in Preston is based.
Bridgestone UK has appointed former TBR area sales manager, Neil Collison as its new National Fleet Executive. The new position is part of a restructuring of the company’s national fleet approach, which has seen the formation of specialist new business and account management teams.
Recently resumed talks over a new contract for Cooper Tire & Rubber’s Findlay plant in Ohio have already stalled, local media sources report. Representatives from the tyre maker and the United Steelworkers union only began negotiations again on 6 February, yet a union official told the Coshcoton Tribune that they’ve already stalled.
The Bandvulc Group recently held its annual BTC Key Service Partner Conference at its head office in Ivybridge, Devon, some four years since it was last been used as the venue. According to the company, the event was very well attended with the key partners travelling from all areas of the UK to attend the two day programme.
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