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Maxxis has Something for Everyone

When it comes to the ATV sector Maxxis believe they can offer a tyre for every application, from the high performance needs of a professional ATV racing series through to the rugged all-rounders that are becoming ever more indispensable to the farming community. And the company’s confidence in its product is not limited to the size of the range it offers – Maxxis also claim that its tyres offer superior puncture resistance and traction on all surfaces, and point to their list of OE customers – which includes Honda, Yamaha and Polaris – as confirmation the widespread acceptance enjoyed by the Maxxis ATV product range.

The Maxxis iRAZR M943(front) and M944 (rear) is reported to be the first all terrain radial to be sold in the UK and features an aggressive centreline and less rounded profile for improved steering and handling capabilities. It was developed especially for motocross racing and is, according to Maxxis, being put through its paces at the top echelons of the sport – something the company has more than just a passing interest in. Indeed, Maxxis has come on board as the new sponsor of Team Green, Kawasaki Motors UK’s successful motocross and Enduro racing initiative, and will supply tyres for a number of up and coming youth riders. It is also supporting KIK Team Honda TRX450R, the official Honda UK ATV motocross team, which has two riders competing in the 2007 British Quad Championship. In overseas markets Maxxis also has a strong presence in the ATV racing scene, sponsoring seven competitive events and numerous riders in the US, including Bill Balance, who won his second straight victory in the West Virginia Snowshoe GNCC ATV race on June 23.

27th June 2007/by Tyrepress Editors

Goodyear Release Statement Regarding Ledbetter Lawsuit

In light of the widespread media attention the pay discrimination case involving former Goodyear employee Lily Ledbetter has received, the US tyremaker has been prompted to release a statement outlining the company’s position on the matter. The statement reads as follows:

First and foremost, let us assure you that Goodyear has a long-standing policy prohibiting discrimination in employment and pay.

Goodyear encourages associates to report concerns as soon as possible, so they can be fairly reviewed and remedied. It’s easiest and simplest to correct a problem early, before it grows into a bigger problem years later. We encourage you to access our compliance policies.

Second, there are just a few facts from the case we’d like to highlight. Goodyear presented evidence at trial supporting Ms. Ledbetter’s pay level. During her employment, she had two extended layoffs and was not eligible for pay increases those years. In other years, Goodyear showed that Ms. Ledbetter and lower-rated male supervisors received comparable increases. Like most companies, pay increases at Goodyear are based on performance. In fact, there was a judicial finding of no discrimination with respect to the merit increases Ms. Ledbetter received in the years just before she took an early retirement.

26th June 2007/by Tyrepress Editors

Conti Names Appointments for New Business Units

As of 1st July Dr. Andreas Esser (48), who has headed Continental’s global Original Equipment Car Tires business for many years, will be responsible for the company’s newly-created business units Replacement Business Car Tires and Replacement Business Truck Tires Asia, based in Shanghai. At the same time Nikolai Setzer will take over as head of Continental’s Original Equipment Car Tires business. Dr. Esser previously held this position for over six years, whilst Nikolai Setzer was responsible for the OE Car Tires business in North and South America.

Creating the two new business units enables Continental to consolidate its growing activities in the car, MPV/light van and commercial vehicle tyre replacement business on Asia’s booming market, and Continental believes this move demonstrates the company’s interest in this continent. In his new position Dr. Esser will report directly to Manfred Wennemer, chairman of the board at Continental AG and head of the Car Tire division, as well as to Dr. Hans-Joachim Nikolin, who is a member of the board and is also responsible for the Commercial Vehicle Tire division. Dr. Esser headed the Original Equipment Car Tires business unit for over six years and under his leadership Continental became number one in Europe for OE sales and number three in North America.

25th June 2007/by Tyrepress Editors

Delphi Asks Court for Extension on Reorganization Plan

(Akron/Tire Review) Delphi Corp., currently restructuring under Chapter 11, has asked a U.S. Bankruptcy court for an extra five months to file its reorganization plan. According to a report from the Detroit Free Press, court papers filed on Friday stated that Delphi needs the additional time to continue negotiations with hedge fund groups, its former owner General Motors Corp. and its labour unions. The company said it still expects to exit bankruptcy proceedings by the end of the year. Currently the deadline for Delphi to file its reorganization plan is July 31. If the company’s request for extra time is approved, the company will have until Dec. 31 to file.

21st June 2007/by Tyrepress Editors

Siemens Receives Three Bids for VDO Unit, Continues to Favour IPO

(Akron/Tire Review) Siemens AG has received three bids for its automotive unit VDO but continues to favour a public offering, German newspaper Handelsblatt reported, citing company sources. “The IPO is clearly the number one option,” a Siemens spokesman told the newspaper. According to the report, Continental AG and TRW Automotive have submitted a bid. The third bid may have been made by financial investors KKR and Permira, the newspaper said, citing industry sources. All three bidders are now to receive detailed VDO figures for further examination, the report added.

21st June 2007/by Tyrepress Editors

GKN Wheels Partners With John Deere

Off-highway wheel producer, GKN wheels, which makes 350,000 wheels a year at its Telford plant, has become the only wheel maker to be awarded partnership status with agricultural products maker, John Deere. According to a The Manufacturer report, the relationship between the two companies spans 12 years.

21st June 2007/by Tyrepress Editors

Amtel-Vredestein Publishes 2006 Annual Report

Amtel-Vredestein released its audited 2006 Annual Report on June 15. The report remains subject to shareholder approval at the company’s Annual General Meeting of Shareholders, to be held in Amsterdam on June 30. The company previously published its summary 2006 and first quarter 2007 earnings results on 16 May 2007, and the audited accounts as included in this 2006 annual report are substantially the same as the previously reported un-audited results. However a number of adjustments have been made.

The company’s annual sales have been adjusted to $817 million versus the previously reported $823 million. This change occurred because $6 million in revenue has been reclassified as inter-company transactions in the fourth quarter of 2006. Profit from operations also reduced to $33 million from $36 million, primarily because of additional provisions related to AV-TO subsidiary. Net loss was also reduced by $2 million to a new figure of $5 million as a result of approved adjustments.

20th June 2007/by Tyrepress Editors

Conti Plans HQ Move

(Akron/Tire Review) The Charlotte Business Journal has reported that Continental Tire North America Inc. plans to move its headquarters from Charlotte to a business park in nearby Lancaster County, North Carolina. CTNA is reportedly negotiating a multi-million deal with the park developer.

According to the report, CTNA would move its 120-person headquarters staff to a 65,000-quare-foot facility, and will keep a small operation at its 1.7-million-square-foot Charlotte facility. The Charlotte facility had served as CTNA’s headquarters and home plant. The plant has ceased producing tyres, but still serves as a warehouse and distribution centre.

12th June 2007/by Tyrepress Editors

NGK Names New National Sales Manager

(Akron/Tire Review) NGK Spark Plugs (USA) Inc. has named Darrel Reuss as its new national sales manager. Reuss, a 23-year veteran in the automotive aftermarket industry, was previously with Delphi Corp. Reuss will oversee NGK’s automotive aftermarket sales efforts in the U.S., and will report to Mike Schwab, general manager of NGK Spark Plugs’ Aftermarket Division.

8th June 2007/by Tyrepress Editors

Bridgestone Reports Best Ever CV Show

Bridgestone UK is reporting that its stand at the CV Show this year was its busiest to date with over 500 visits from new and existing fleet customers and partners, and over 60 new leads obtained. The company has had a strong start to the year with a number of new fleet gains including DHL Tradeteam Primary, Dawson Rentals, Collease, Tuffnells Trailer Fleet and AAH Pharmaceuticals to name but a few. Bridgestone’s presence at this year’s show allowed new and existing fleet partners to view the company’s latest products and technologies.

Bridgestone presented its complete range of new generation tyres at this year’s show encompassing the R249 and R168, as well as their most recent addition to the family, the M749. The company also introduced its Tyre Inspection Module, a state-of-the-art tyre management software package which allows dealers to operate fast and efficient fleet checks, to monitor and report on tyre condition, and help raise tyre performance in fleets.

5th June 2007/by Tyrepress Editors

Sportrac3 Rated a ‘Winning Tyre’ in Auto Express Product Honours

Auto Express magazine has named a Vredestein product as top performer in the tyre segment of the magazine’s Product Honours 2007 awards. The Vredestein Sportrac 3 performed well in the 15-brand tyre test that covered wet cornering, wet handling, dry handling, aquaplaning, wet and dry braking, noise levels and rolling resistance, coming out in the lead in all areas with the exception of dry braking and rolling resistance.

“The Sportrac3 stars on wet surfaces and is a worthy champion. A great tyre at a good price,” said Kim Adams, consumer editor of Auto Express. The report further added that “new Russian owners haven’t stopped the Dutch brand’s ability to produce a winning tyre, as this is Vredestein’s third victory in as many years.”

“Our engineers have once again achieved a remarkable success in producing tyres that are the best in an important and growing segment of the market,” commented Bert Stellinga, managing director of Vredestein UK, who further claimed “Our network of specialist tyre retailers throughout the UK can confidently promote Vredestein car tyres as the very best quality in the market today.”

5th June 2007/by Tyrepress Editors

Russia: Nokian Tyres intensifies its operations

For Nokian Tyres the Russian tyre market is becoming more and more a domestic market, particularly now that the company has started operating its new tyre factory in Vsevolozhsk, close to St. Petersburg. Last year was even the first year that the Finnish tyre manufacturer generated a higher turnover in Russia than in its home market, and today one in every four euros of turnover stemms from the Russian marketplace. And as the very profitable company always points out, margins in Russia are comparable with those in the Nordic markets. So obviously the company has far-reaching plans regarding its position in this market. In its most recent annual report (2006) Nokian Tyres announced that production capacity in its Vsevolozhsk facility will increase to 10 million passenger car tyres by 2011. This is twice as much as it currently produces. In order to achieve this the company will initiate its second expansion stage, providing for a completely new second factory at the site.

1st June 2007/by Tyrepress Editors

Kwik-Fit Uses Mobile Phone Technology

Kwik-Fit has begun using digital pens and mobile phone technology to provide an improved fleet service. The move sees Kwik-Fit Mobile’s tyre inspectors deliver report results electronically to a control centre at the end of each day. Each report, which is logged in the digital pen, is sent immediately on completion by inspectors via their mobile phone using both Bluetooth and GPRS technology to the control centre. This means the replacement of damaged or illegal tyres, can be carried out much quicker than previously.

Kwik-Fit Mobile operations director Simon Lucas said: “On receipt of the information the control centre can then contact a car driver immediately to arrange the time and location of any work to be carried out. The technology also means that we can source any tyres that are required immediately, which enables any work to be undertaken within 24 hours.

25th May 2007/by Tyrepress Editors

Beru – Quarter Figures Show Mixed Results

Tire Safety System (TSS) manufacturer Beru AG has posted total sales revenues of 116.8 million euros for the first quarter of the 2007 financial year, nearly equalling the sales revenues (117.4 million euros) of the prior-year period. Earnings before interest and taxes (EBIT) reached 14.8 million euros, slightly down from last year’s 17.3 million euros and equivalent to an operating margin of 12.6 per cent.

The company’s Electronics and Sensor Technology division maintained its status as growth area during the quarter, with first quarter sales revenues of 38.8 million euros recorded during the quarter, an increase of 16.6 per cent over the previous year. Beru report that their TSS system was largely responsible for driving this growth.

15th May 2007/by Tyrepress Editors

Daimler Sells Chrysler for 5.5 billion euros

Daimler has sold 80.1 per cent of Chrysler to private equity firm Cerberus for 5.5 billion euros, far below the $36 billion price-tag the company originally paid. Daimler will retain a 19.9 per cent minority share and has committed to reinvesting 4.5 billion euros back into Chrysler, leaving Daimler with just 1 billion euros. Despite this market observers report that margins in all industrial activities (Mercedes trucks, vans and buses) are likely to rise sharply over the next few years.

Analysts at Deutsche Bank have calculated that Cerberus’ bid values Chrysler at -3.4 billion euros. They also have pointed out that the deal will have implications on GM and Ford and signal a harder line when it comes to any future labour negotiations:

15th May 2007/by Tyrepress Editors