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Large UK Tyre Manufacturers and Distributors are Bigger Not Better

Size and scale are no advantage when it comes to overall financial success, according to a new study by Tyre Manufacturers & Distributors industry analysts Plimsoll Publishing. It seems the industry’s smaller players are putting their larger counterparts to shame when it comes to overall financial performance.

The top 60 “major players” currently control almost 94 per cent of the market. Yet look beyond their size at their individual financial performance and their image appears somewhat staid, according to Plimsoll analysts.

13th May 2005/by Tyrepress Editors

Dekk Partner Reports Rapid Growth

Nordic buying group Dekk Partner has reported that its network is growing at a rapid rate. Dekk Partner now has 110 workshops in Norway, close to 90 in Sweden, 60 in Finland and one in Estonia. On top of this group managing director, Leif Kristiansen, predicts that total turnover could peak at 215 million euros this year.

6th May 2005/by Tyrepress Editors

UK Press Honours Avon’s Vipers

In recent months the motorbike consumer press has heaped praise on Avon’s Viper Sport (see T&A February 2005) and Supersport tyres. Journalists from MCN, Superbike, Bike and TWO all attended the European launch of the Viper at the Catalunya GP circuit near Barcelona, Spain in February. The tyres were tested on a variety of bikes, which together clocked up around 3,000 miles on one of the world’s fastest and demanding circuits.

3rd May 2005/by Tyrepress Editors

Cambridge-MIT Institute publishes ‘Who killed MG Rover’ Report

The Cambridge-MIT Institute’s Centre for Competitiveness and Innovation (CCI), at the University of Cambridge has published a 33-page report investigating the final collapse of the MG-Rover in April 2005. Report authors Dr Matthias Holweg and Professor Nick Oliver investigate the final collapse of MG-Rover in April 2005, and address two main questions. First, what were the reasons for the final collapse, and was this avoidable? Second, who or what was responsible for the circumstances that put MG Rover in such a precarious position, and what critical choices sealed the fate of Rover?

29th April 2005/by Tyrepress Editors

Chinese Aim to Take On Rover 75 Production

In the wake of the collapse of MG Rover, it seems that the vultures are already circling the carcass. According to an Auto Express report, Shanghai Automotive Industry Corportation (SAIC) plans to build 321,000 Rover 75s in the next five years. Not one will come from Birmingham.

28th April 2005/by Tyrepress Editors

Treadways Announces Organisational Changes

(Akron/Tire Review) Treadways Corp has announced several organisational changes, effective 1 May. First, Lyle Symonds has been appointed senior vice president of private brand sales. Mr Symonds will oversee Treadways’ Laramie, Eldorado, Jetzon and Telstar tyre divisions and will report directly to Roy Araki, president. Previously, Mr Symonds was vice president, sales and marketing for the company’s Eldorado division.

20th April 2005/by Tyrepress Editors

US Replacement Shipments up 1 per cent

US replacement tyre shipments rose one per cent in March, Deutsche Bank analysts have reported. According to the report, this number is seen as relatively strong in the context of the seven per cent year on year increase experienced in February. The analysts predict a 2 – 3 per cent increase for the quarter.

19th April 2005/by Tyrepress Editors

Stapletons Appoints New Chief Financial Officer

Stapletons Tyre Services has appointed Taro Ikeba to the position of chief financial officer to join its expanding operation. Mr Ikeba joined Stapletons recently from his previous position at Itochu Finance Europe plc in London, where he was head of corporate finance. He will report to Stapletons’ chief operations officer Alan Denton, and his core responsibilities will include managing the company’s overall financial strategy.

19th April 2005/by Tyrepress Editors

Analysts Predict Flat First Half OP for Michelin

Analysts have predicted that Michelin’s first half operating profit could match last year. They added that a three or four per cent fall in volume should be offset by the effects of a strong price/mix effect of plus four or five per cent. The Deutsche Bank report states that the analysts expect first half operating profits to be 50 million euros higher than the consensus of 700 million or 9.3 per cent of margin. This translates into an earnings per share estimate of 5.5 euros for 2005 earnings and 6.5 euros for 2006 earnings, against a consensus of five and six euros respectively.

19th April 2005/by Tyrepress Editors

Gajah Tunggal Posts a Drop in Net Profit

Indonesia’s Gajah Tunggal has reported a 4.11 per cent decline in net profit to Rp478.15 billion (£31.2 million) in 2004 compared with the previous year, according to Yahoo Finance Australia.

Its financial report declared net sales that rose to Rp6,807,58 billion from Rp5,729.51 billion.

Its gross profit rose from Rp871.82 billion to Rp1,124.39 billion but it suffered a loss on the foreign exchange amounting to Rp436.75 billion as against gain of Rp390.65 billion in the previous year, said the report.

The company’s total assets shrank from Rp12,173.26 billion to Rp6,341.12 billion as a result of a sharp fall in current assets from Rp9,096.77 billion to Rp4,491.78 billion.

15th April 2005/by Tyrepress Editors

Stamford Tyres Gets Stung by Fraud

Singapore company, Stamford Tyres, has discovered fraudulent acts committed by an employee responsible for its Brunei, Sarawak and Labuan markets, according to a report from Channel News Asia.

No names were given, said the news source, but the company has lodged a police report.

The loss arising from the fraud is estimated at S $500,000 (£159, 950). The company has insurance coverage for fraud and dishonesty by its employees to a limit of S$250,000 says the report.

15th April 2005/by Tyrepress Editors

Tyre Companies Invest in China

According to a report from Bloomberg, foreign direct investment in China rose by 9.5 per cent in the first quarter. It attributes this to companies such as Avon Products and Goodyear Tire & Rubber that are expanding in the market and furthering their attempts to tap rising demand in Asia’s second-largest economy.

13th April 2005/by Tyrepress Editors

F1 Teams Boycott FIA Meeting

(Akron/Tire Review) Associated Press has reported that nine Formula One teams and five F1 car manufacturers will boycott a meeting this week with the FIA in another move interpreted as increasing their bid for a new grand prix series.

FIA’s meeting on 15 April was reportedly called to discuss 2008 race season regulations. The only race team and constructor committed to attending the meeting is Ferrari, which signed a multi-year deal to remain in F1.

11th April 2005/by Tyrepress Editors

Further Appointments at Stapletons

National tyre wholesaler, Stapletons has made strategic supply chain appointments. Ian Kirkpatrick will move from his role as national logistics manager becoming head of supply chain as part of the company’s ambitions to work even closer with UK and worldwide tyre manufacturers.

8th April 2005/by Tyrepress Editors

Treadways Appoints New EVP of Operations

Koichiro (Kyle) Iwasawa has been named executive vice president of operations for Treadways Corp.

Iwasawa, who is replacing Koji Aoyama, started his career with Sumitomo Corp. in 1979 and worked for Treadways for six years. Iwasawa served as director of marketing and operations from 1993-1995 and vice president of operations from 1996-1999. Most recently, he was general manager of the paper and paperboard export department of Sumisho Paper Co. in Tokyo.

Iwasawa will work out of Treadways’ headquarters office in East Norriton, and will report directly to Roy Araki, president of the company.

7th April 2005/by Tyrepress Editors