Report Archives - Page 39 of 59 - Tyrepress

Posts

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

Nokian Reports Record Car Tyre EBIT

Despite the fact that Nokian had already pre-announced its Q1 headline numbers, analysts have written of their surprise at the strength of the Finnish companies divisional breakdown figures. “Car Tyres reported EBIT of 41.6 euros, 13 per cent higher than we had assumed. The EBIT margin was hence 29.4 per cent, the second highest quarterly margin ever beaten only by the third quarter of 2004, which is a seasonally more important quarter,” Deutsche bank reported in an analytical report.

Growth in Nokian’s Russian operations are said to have been a main reason for the record margins. Nokian’s St Petersburg plant has been routinely praised by analysts who described it as generating significant cost efficiency improvements “on top of the very solid demand picture.”

11th May 2007/by Tyrepress Editors

Mansurov Appointed AV-TO Executive Director

AV-TO, the retail and distribution subsidiary of Amtel-Vredestein, N.V. has announced that Dilshod Mansurov has been appointed as Executive Director of the company. Mr. Mansurov’s responsibilities will include supervision of all AV-TO retail and distribution operations. He will report to AV-TO General Director, Aleksandr Tryndin.

Mansurov has held senior positions at the Megapolis (a leading Russian FMCG group) since 2003. From 1994 to 2002 he held several executive sales and marketing positions at British American Tobacco (Central Asia). He graduated with an honours degree from the Uzbek State University of World Languages in 1995.

27th April 2007/by Tyrepress Editors

Bridgestone Shows New OTR Tyres at Bauma 2007

Bridgestone Europe has fielded a comprehensive array of OTR tyres at Bauma 2007, the international exhibition for the civil engineering and construction industries held in Munich between April 23 and29 April. Arguably the centrepiece of Bridgestone’s booth at Bauma was the company’s new OTR radials, the VJT and VRQP. Also on show was the world’s largest OTR radial, together with other well-known products for the construction sector.

The VRQP, seen for the first time at Intermat 06, is an E4 tread-class premium rock tyre developed for rigid dump trucks operating under severe conditions such as those found in quarries. Bridgestone report that the VRQP comes with a tread 21 per cent deeper than that of conventional designs, extending wear life and enhancing performance. The tread pattern incorporates angled wide main grooves and is designed with fewer and larger lugs for added grip and stability. Extra block width provides greater lug stiffness, resulting in better ground contact pressure, while a shallow sub-groove further improves traction and lateral stability. Initially available in 18.00R33 size, the VRQP will be joined by a 24.00R35 version towards the end of 2007.

26th April 2007/by Tyrepress Editors

BFNAT Gets Tentative Bloomington Deal

(Akron/Tire Review) Reports from Bloomington, Illinois, indicate that USW Local 787 has reached a tentative contract agreement with Bridgestone/Firestone North American Tire. Earlier this month, BFNAT reached a tentative deal with the United Steelworkers covering tyre plants in Akron, Des Moines and LaVergne, Tennessee.

Bridgestone Americas Holding also reached contract deals with the USW for non-tire plants in Russellville, Arkansas, and Noblesville, Indiana The Bloomington OTR tyre plant was on a separate contract.

USW members at the Bloomington plant are expected to vote on the new contract this weekend and into Tuesday next week.

Votes at the other USW represented plants are expected to be completed by April 25.

According to the report, USW workers at BFNAT’s truck tyre plant in Warren County, Tennessee, also on its own contract, ratified a new three-year pact last week.

23rd April 2007/by Tyrepress Editors

New Sava Sporty 3+ Sizes

Savatech has announced that, in order to “make an impression,” the company will expand the Sporty 3+ range to include140/70-12 65P, increasing the number of possible fitments. The company is also reporting that feedback about the launch of its MC29 Sporty 3+ scooter tyre is highly positive with the tyre being considered to be innovative and technically advanced whilst great value for money.

“Last year we predicted that Sava MC29 Sporty 3+ would succeed with its attractive design, inclusive range of sizes and astonishing handling characteristics. Our confidence in this new product has been confirmed now that users have been able to put it to the test and report that the most outstanding feature of the tyre is its sporty and dynamic handling, enabling quick changes of direction,” company representatives told Tyres & Accessories.

20th April 2007/by Tyrepress Editors

USW Report Slams CTNA

An executive report recently released by the United Steelworkers in the US outlines what the union refers to as “some of the company’s most stunning failures in the North American tyre market.” The USW claim that the report, titled ’20 Years Asleep at the Wheel,’ is based upon market and industry research and interviews with independent tyre dealers, and zeroes in on “major management blunders” that are reported to have cost shareholders hundreds of millions of dollars.

The report discusses several issues the USW alleges the company did not fully disclose to its shareholders, including an overemphasis on the OE market, failure to develop an effective tyre dealer network, ineffective marketing strategy and failed sourcing and supply strategy. The USW claims that information made public as part of a recent lawsuit shows management errors in these areas have cost shareholders as much as $1.2 billion during the last five years.

19th April 2007/by Tyrepress Editors

Wrap Publishes Waste Tyre Derived Char Report

WRAP (Waste & Resources Action Programme) has published a report investigating market demand for char from tyre pyrolysis. Following the EU Landfill Directive, a number of companies have shown renewed interest in developing pyrolysis technology. To secure finance for such a venture, companies must provide an understanding of the current market opportunities. Therefore, WRAP commissioned Juniper Consultancy Services to investigate the potential market for char, the appetite for such a product and market accessibility.

The report contains useful information on the current market opportunities for carbon char and, while they appear tough at this time, it should promote debate among the industry as to how char can be utilised.

18th April 2007/by Tyrepress Editors

Drivers Under Pressure to Pump Up

Company car and van drivers are being urged by ATS Euromaster to take advantage of a free tyre pressure check at any of its centres nationwide, in support of the Department for Transport’s new ‘Act on CO²’ initiative. The campaign, launched in March, highlights the amount of CO² emitted by cars and vans in the UK, and targets an eight per cent reduction over 5.5 million tonnes of CO² a year.

The free tyre inspection includes checking the pressure, tread depth and general condition of each tyre and is available at any of ATS Euromaster’s 500 service centres nationwide. It takes approximately five to ten minutes per vehicle and motorists receive a written report showing the exact status of each tyre.

16th April 2007/by Tyrepress Editors

Studded Tyre Ban to be Extended in Iceland

The Reykjavík City Environmental Health and Protection Committee has suggested that studded tyres should be banned for a longer period in winter. Studded tyres are used for driving in snow and, according to an Iceland Review report, are “known to cause air pollution.” Currently, studded tyre usage is permitted in winter from 31 October to 15 April across Iceland. The suggestion is that two weeks could be added to the off season in Autumn and Spring. Despite the fact that there is usually snow in Reykjavík that other areas, there are now plans to regionalise the legislation. Iceland Review quoted government sources as saying that studded tyres are hardly needed in Reykjavík thanks to regularly salting and gritting.

12th April 2007/by Tyrepress Editors

Euro Strength “Concerning”

The high relative value of the euro against the Japanese yen is causing concerns for those trading with Japan. According to an analysts report published today the euros is trading at an all-time high versus the yen and is only 2 cents away from an all-time high versus the dollar. Deutsche Bank analysts reported that the profitability of European exports to Japan “which are hardly profitable…even though Japanese pricing levels remain on the high side in a global context” are of particular concern.

11th April 2007/by Tyrepress Editors

Matador’s Hectorra 2 Rated Well in Independent Test

Matador’s new MP 46 Hectorra 2 high performance tyre has been rated very highly in an independent test conducted by the Czech Republic motoring magazine Auto Motor a Šport. Following a comparative test evaluating each tyre on a number of criteria, the expert evaluators labelled the Hectorra 2 as “recommended.” The comparative test revealed the tyre’s greatest strengths lay in the areas of low rolling resistance and short braking distance on wet and dry surfaces. This Hectorra 2 was also rated one of the best handlers.

4th April 2007/by Tyrepress Editors

New Proposed Tyre Waste Laws for Ireland

Manufacturers, wholesalers and any other business that supplies tyres to the market in the Republic of Ireland will become responsible for the ultimate fate of the tyres they sell at the end of their working life if new regulations currently under review are approved. On March 14 Ireland’s Department of the Environment, Heritage and Local Government released a draft paper outlining an initiative intended to track the flow of waste tyres back to their source.

The draft regulations are the result of discussions the Department has held with the tyre industry via the Irish Tyre Industry Association (ITIA). The proposed new system of tracing tyres is to be known as TRACS, and it will follow the movement of waste tyres from the time they are discarded until they either reused or processed for recycling or other uses.

22nd March 2007/by Tyrepress Editors

Two Quit Amtel-Vredestein Board

(Akron/Tire Review) Vredestein Banden CEO Rob Oudshoorn has unexpectedly resigned from the executive board of parent company Amtel-Vredestein NV. Also leaving the board was Vredestein CFO Ton Tholens.

The two executives said they left the company’s managing board to give their full attention to Vredestein’s business.

Tholens also gave up his post as CFO of Amtel-Vredestein.

Amtel-Vredestein CEO Alexei Gurin will temporarily assume the responsibilities of CFO of the group.

21st March 2007/by Tyrepress Editors

Conti Misses Mark in China Sales

(Akron/Tire Review) Continental AG fell short of its stated 2006 sales goal in China, posting 230 million euro in sales, according to China Business News. Conti had established a goal of 350 million to 400 million euro in sales of its automotive systems products.

The sales figures do not reflect products made in China and exported, the report said.

Conti has a 50/50 joint venture with Shanghai Automotive Industry Corp., and has announced plans to build two technology centres in China this year.

21st March 2007/by Tyrepress Editors