Report Archives - Page 31 of 59 - Tyrepress

Posts

Goodyear to Report Second Quarter Earnings

Goodyear will report their financial results from the second quarter 2008 before markets open on 31 July on its investor website. After the announcement, the company will host an investor conference call at 10.30, with CEO Robert J. Keegan, CFO W. Mark Schmitz and senior vice president, finance and strategy Darren R. Wells participating.

The call can be accessed by members of the media and interested parties on the day live, or with a taped replay to be posted at 15.00.

15th July 2008/by Tyrepress Editors

Further Job Losses Imminent, Says Plimsoll Report

The phrase “consolidation period” always sounds like a harbinger of doom for workers in any industry, so a new report on the UK tyre industry suggesting that this is exactly what lies ahead in the months to come can only suggest the onset of job losses in the sector.

The third annual Plimsoll Analysis, presented this week, suggests that the industry will lose 2373 jobs, in line with the UK economy’s “prolonged and bumpy landing”, which – a British Chamber of Commerce survey suggests – will see unemployment rise by 300,000. The report individually analyses the UK’s leading 200 companies, assessing their chances of survival and possible precautionary measures in the lacklustre market conditions.

15th July 2008/by Tyrepress Editors

Report: Bridgestone to Announce 26% Profit Fall at Year End

Bridgestone Corp is expected to announced a sharp fall in group operating profits as a result of rising rubber prices. According to the Nihon Keizai Shimbun daily financial newspaper, Bridgestone could announce a fall of up to 26 per cent in its operating profits compared with the last financial year.

New sources now expect Bridgestone’s group operating profit for the year ending 31 December to fall to about 185 billion yen ($1.74 billion), down from the company’s initial estimate of 195 billion yen. Thomson Reuters estimates put the analyst consensus forecast for Bridgestone’s operating profit this year at about 189 billion yen.

14th July 2008/by Tyrepress Editors

Pirelli Complete Speed Acquisition

Financial news sources report that Pirelli have acquired the 19.19 per cent of Speed SpA necessary to complete the full purchase of the company.

Speed owns a 38.9 per cent stake in Pirelli – the only stake not already owned by the Italian manufacturer itself. The acquisition of Speed for the grand sum of 835.5 million euros – as announced back in March – therefore completes the repurchase of shares in Pirelli Tyre.

9th July 2008/by Tyrepress Editors

Military Turns Back to Wheels

The military are turning back to wheels as opposed to tracks on defence vehicles. According to a Jane’ Defence Weekly report, there is an increasing trend back towards wheeled vehicles for logistics reasons. The thinking is that a wheel vehicle is better able to get itself to war than a tracked machine, which would need a transported of some kind.

According to the report, republished in the SMMT’s Transport News Brief, the trend was particularly visible the recent Defence Vehicle Dynamics show at Millbrook in Bedfordshire, which was dominated by 6×6 and 8×8 drive trains, with barely any tracked vehicles. At the same time, UK Ministry of Defence took the opportunity to announce orders for more fighting vehicles, all of them wheeled.

8th July 2008/by Tyrepress Editors

Granutech-Saturn Has Best Ever Show

Representatives from Granutech-Saturn Systems report they experienced the highest level of traffic ever at their booth at the Reifen show in Essen, Germany, this past May. According to Mike Hinsey, Granutech’s International Vice President, the benefits from that event continue to make themselves evident.

7th July 2008/by Tyrepress Editors

Cemex Tyre Fuel Report Shows Significant Nitrogen Oxide Reductions

Cemex UK reports significant reductions in nitrogen oxide emissions at its facility in Rugby following the partial changeover to chipped tyres as a fuel source. The company states its most recent trial met and exceeded a number of critical success factors it agreed upon with the Environment Agency.

In its 2007 Sustainable Development Report, Cemex stated “while burning tyres showed no detrimental effects to the environment, they replaced 12 per cent of fossil fuels and reduced emissions of nitrogen oxides by around 25 per cent. In 2007 we gained permission from the Environment Agency for the permanent use of tyres as fuel at Rugby, at a rate of up to three tonnes per hour.” The facility’s Environmental Index had improved by 33 per cent.

25th June 2008/by Tyrepress Editors

Report: Retreads are Greener than New Tyres

An independent analysis carried out to compare the relative carbon footprints of new tyres and retreaded tyres has concluded that the process required to manufacture and distribute a retreaded tyre produces significantly less carbon emissions than that required to produce a new tyre. The report, commissioned for the Centre for Remanufacturing and Reuse (embedded within Oakdene Hollins Ltd) and carried out by carbon footprint specialists Best Foot Forward, compares the carbon footprint of a new and a retread 17.5” tyre for use by light commercial vehicles.

This study showed that the manufacture of a 17.5” new tyre produces 86.9 kg CO2 emissions compared to 60.5 kg CO2 for an equivalent retread tyre, a saving of 26.4 kg. This equates to a reduction of emissions by 30 per cent.

20th June 2008/by Tyrepress Editors

A Third of Tyre Companies ‘on the Brink of Failure’

According to Plimsoll Publishing Ltd’s latest report, zero growth, sliding profits and escalating debts have pushed a third of the UK Tyre Manufacturers & Distributors industry to the brink of failure. The report says “consolidation is essential as supply is outstripping demand. All companies are having a difficult trade off between protecting margins and appeasing price sensitive customers.”

David Pattison, senior analyst on the project, comments “A great deal has been written on the general slow down in the UK, but until now no one has measured the impact on the tyre manufacturers & distributors market and crucially who is most exposed.”

20th June 2008/by Tyrepress Editors

Continental Appoints New Industrial Tyre Sales Manager

Continental Industrial Tyres has appointed John McWilliam as sales manager for Scotland and the North East of England. With over 10 years of experience in the commercial tyre industry, John, 34, has worked in both business development and sales. He has an extensive knowledge of the local market in Scotland and the North East of England having spent his entire professional career in the area.

19th June 2008/by Tyrepress Editors

Yokohama Prepared for All WTCC Race Weather

As this summer’s weather becomes more and more unpredictable, with almost as many dry FIA World Touring Car Championship (WTCC) races so far as there have been events held in the wet, Yokohama is making sure its Advan wet racing tyre provides the top possible level of grip. The sole supplier to both WTCC and Formula Master introduced a new wet weather tyre, featuring improved compound and construction, for the WTCC this year.

The Advan 240/610/R17 A006 is confirmed for the entire 2008 and 2009 seasons and incorporates non-aromatic oil in advance of the new 2010 regulations. “Aromatic oil is used throughout the tyre industry,” explains Yokohama technical consultant Ian Beveridge. “We know this will change in 2010 and, with the opportunity which arose in creating a new wet weather tyre for the WTCC, we have implemented this change in our compounds already.

13th June 2008/by Tyrepress Editors

Malaysian Retreading Association Increases Prices

The Tyre Retreading Manufacturers’ Association of Malaysia has announced the second price rise this year for retreaded tyres. This latest round of increases takes effect on July 1 and will see prices go up by between 5 and 18 per cent.

According to a June 12 report in the country’s China Press newspaper, service charges at retail tyre outlets will also increase by 20 per cent. Quoting a spokesman for the retreading association, the daily reported that manufacturers are finding it hard to cope with current conditions. “Initially the association wanted to increase the price of tyres by 25 per cent. But fearing a backlash from consumers, we decided to raise it to between 5 per cent and 18 per cent.”

13th June 2008/by Tyrepress Editors

Bridgestone Sued in Australia for Tyre Injury

An Australian man has sued Bridgestone Tyres for more than AU$400,000 (£194,000) following two workplace injuries. Former forklift driver Brett Suna, employed at premises operated by the company in suburban Brisbane, was injured in July 2002 whilst trying to manually lift a 40-kilogram truck tyre from a raised cage. It is said Mr. Suna fell backwards and the tyre dropped onto his head. A year later he was again injured, his arm wrenched while attempting to retrieve a tyre for a customer. Doctors report that the impact of the tyre dislodged a disc in Suna’s back, causing him recurring pain, restricting his movements and limiting his future job prospects.

12th June 2008/by Tyrepress Editors

Explosion at Goodyear Chemical Plant

The Goodyear Chemical plant in Houston, Texas, was evacuated after a heat exchanger exploded. One person was reportedly killed and six injured in the blast, which took place at 7:30 on Wednesday 11 June, after inhaling ammonia, which was being used as refrigerant to cool the exploded heat exchanger. However, company officials report that the rest of the roughly 250 employees were back on-site by 11:00. The Goodyear Chemical plant in Southeast Houston, Texas makes synthetic rubber and the blast occurred in a heat exchanger, an official said. A Goodyear Tire & Rubber Company spokesman said that an investigation into the cause of the explosion has already begun.

12th June 2008/by Tyrepress Editors

Transport Secretary Says No to Mega Trucks

The SMMT is reporting that transport secretary Ruth Kelly has rejected proposals to run “significantly longer and heavier” truck on British roads.

The decision follows the publication of an independent report which suggests that their introduction in the UK would be impractical on either a permanent or trial basis. “This study shows that super-lorries are not compatible with British roads. Not only are there clear environmental drawbacks, but such vehicles would be unsuitable for many roads and junctions, while providing the infrastructure to accommodate them would require substantial investment.”

4th June 2008/by Tyrepress Editors