results Archives - Page 16 of 52 - Tyrepress

Posts

Sumitomo Reports Ninefold Increase in Net Income

Sumitomo Rubber Industries’ consolidated financial results for the year ended December 31, 2009 show the company to have earned net sales of 524,534 million yen (₤3.71 billion) during the year, a decrease of 13.3 per cent on the previous year. From this, the company’s total tyre segment sales amounted to 433,471 million yen (₤3.07 billion), or 82.64 per cent of all sales. Company operating income, at 28,738 million yen (₤203.40 million), was 12 per cent higher than during the 2008 financial year, while net income, at 9,093 million yen (₤64.36 million), was some nine times greater than the previous year’s result.

15th February 2010/by Tyrepress Editors

Goodyear Goes Outside to Get NAT President

Curt Andersson has been named president of Goodyear’s North American Tire unit, a position that has been “open” since current NAT president Rich Kramer was promoted to COO of the global company last year. Andersson, 48, comes to Goodyear from Crouse-Hinds of Syracuse, New York, were he served as president of the Cooper Industries unit. Prior to Crouse-Hinds, Andersson was senior vice president of industrial integration for The Timken Co. in Canton, Ohio, and held management posts with General Electric.

3rd February 2010/by Tyrepress Editors

ATA Cautions Even as Truck Shipments Jump in Late 2009

In the United States, Tire Review reports that the American Trucking Associations reported that for-hire truck shipment tonnage jumped 2.1 per cent in December. The boost follows a seasonally adjusted 2.6 per cent improvement in November, ATA said. When compared year-over-year, the December 2009 results were up 6.6 per cent compared with December 2008. ATA’s tonnage index for 108.4 for December, up from November’s 106.2.

2nd February 2010/by Tyrepress Editors

Kumho Tire Work-Out Plan Approved by Creditors

Joongang reports that creditors of Kumho Tire have approved a debt work-out programme. The work-out scheme was proposed by parent company Kumho Asiana Group last week, effectively putting bond payments on hold for the next three months. The next step, the newspaper said, will come as creditors perform due diligence, then lay out and enforce restructuring plans. Creditors of Kumho Tire met at the headquarters of state-run Korea Development Bank, where more than 95 per cent voted in favour of the restructuring.

2nd February 2010/by Tyrepress Editors

‘Pure Rubber, Clean Steel’

Recycling machinery maker Eldan Recycling A/S delivered and installed its first complete tyre recycling plant back in 1991. Almost 20 years later, company representatives told Tyres & Accessories that Eldan has developed and optimised its process to “obtain the best possible purity of the rubber granulate.” This means granulate that is 99.9 per cent free of liberated steel and textile. According to the company, this purity is obtained through specially built equipment such as classifiers and aspirators that operate by means of the “air flow” principle. Another reason for the positive results is said to be the company’s emphasis on modular design.

1st February 2010/by Tyrepress Editors

2009 USA Miles Driven Will Likely Show Growth

The preliminary national data on miles traveled in November is good news for the aftermarket, according to the Automotive Aftermarket Suppliers Association (AASA). November mileage reported an uptick following a dismal October, when the string of year-over-year positive monthly mileage reports for 2009 ended, according to the Federal Highway Administration of the U.S. Department of Transportation.

22nd January 2010/by Tyrepress Editors

Bridgestone “Adventure Tyres” Rated Highly by Motorcycle News Readers

A survey conducted by Motorcycle News has placed Bridgestone’s Battle Wing and Trail Wing as its number one and two “adventure tyres”. The Biking Britain survey questioned 12,000 readers to find their top 10 in the adventure category. Readers scored the tyres highly on longevity, with Bridgestone’s tyres coming out on top of all other brands. As well as scoring highly for their long wear life, the Battle Wing was also praised by bikers for its comfortable ride with the Trail Wing providing “excellent” high-speed stability.

20th January 2010/by Tyrepress Editors

Pirelli enters ECPI Sustainability Index

Pirelli & C. SpA reports that in December the company’s credentials as a socially responsible firm for investors were confirmed by its addition to the ECPI Ethical Index EMU, the ethical finance index produced by Italian investment bank E. Capital Partners (ECPI), a leader in the rating of socially responsible investments.

8th January 2010/by Tyrepress Editors

Safety Milestone Reached at Bridgestone’s Wilson, US Plant

The reaching of a million man-hours without a recorded ‘losttime’ accident has been described as a “major safety milestone” for the Bridgestone Americas Tire Operations (BATO) tyre factory in Wilson, North Carolina. The Wilson plant, which produces passenger car and light truck tyres and has a staff of more than 1,800, is the eighth Bridgestone Americas facility to reach this milestone in 2009, making it a record year for the company.

6th January 2010/by Tyrepress Editors

Apollo Ranked in Indian Top 10 for Shareholder Return

According to a study undertaken by one of India’s leading business magazines, Outlook Business, Apollo Tyres is the tenth highest ranked Indian multinational company in terms of shareholder returns. Apollo is the only tyre manufacturer to appear in the top ten, and according to its 2008-09 financial year results, delivered a 10.5 per cent CAGR return to shareholders. Commenting on Outlook Business’s acknowledgement of the company’s performance, Kankana Das from Apollo Tyres’ corporate relations stated “as a tyre company, we take special pride in being in the top ten.”

5th January 2010/by Tyrepress Editors

Cave Completes an “Incredible” Year with Yokohama

Yokohama-supported rally driver Tom Cave has ended his 2009 rally season in 44th place overall, having attained a third in class during the Rally of Great Britain and eighth overall and first in class in the Rally of Scotland. The latter, notes the tyre maker, marked the best result for a Ford in the 2009 Intercontinental Rally Challenge and would have netted him a championship point had the marque been registered for the series.

1st December 2009/by Tyrepress Editors

Named & Shamed – Top 10 Dangerous Tyre Towns

Michelin is naming – and shaming – the ten locations in the UK where you are most likely, according to results from its 2009 Fill Up With Air campaign, to encounter motorists driving on dangerously under-inflated and even punctured tyres. The roadshow visited 24 cities around the UK during the summer, and checked more than 4,500 cars over a three-month period. And what did Michelin find out? It seems UK motorists are still unaware of how important it is to check tyres regularly. Liverpudlians were found to be the worst offenders, with more than half of the cars checked being driven with dangerously under-inflated tyres.

27th November 2009/by Tyrepress Editors

Workers at Bridgestone La Vergne Plant Vote on Pay Cut

Workers at Bridgestone Americas’ truck tyre plant in La Vergne, Tennesee, are voting on a new contract, one that reportedly brings an across-the-board $2.50 per hour pay cut. In return, USW Local 1055 will get a guarantee that Bridgestone will keep the plant open at least another four years. The results of the vote will be announced sometime after Thanksgiving.

20th November 2009/by Tyrepress Editors

Goodyear Researcher Receives DuPont Award

Goodyear Tire & Rubber researcher Kevin Westgate is to receive a DuPont award recognising the commercialisation of one of the company’s most important technologies. The lead engineer in Goodyear’s Global Material Science Group is one of four people awarded DuPont’s 2009 Bolton/Carothers Innovative Science Award. This distinction acknowledges the work that Westgate and three colleagues employed by DuPont have contributed towards introducing hybrid cord technology containing DuPont’s Kevlar into numerous tyre products.

11th November 2009/by Tyrepress Editors

European Recycling, Recovery Rates Still Growing, Claims ETRMA

Figures released by the European Tyre & Rubber Manufacturers’ Association show end of life tyre recycling and recovery rates last year to have exceeded 95 per cent. The 2008 statistics released by the ETRMA show a continuation in the pattern seen over the last 15 years or so, a period during which the disposal of end of life tyres in landfill has decreased from more than 60 per cent in 1994 to around five per cent today. The number of old tyres receiving ecological treatment, the ETRMA notes, has increased by an average of four per cent yearly.

10th November 2009/by Tyrepress Editors