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Werner Eder Wins World Ploughing Championship on Continental Tyres

Austrian ploughmen, Werner Eder won the 56th World Ploughing Championship in Moravske Toplice, Slovenia, in early September. The 30 year old gained the title of world champion in the overall rankings in the “conventional ploughing” category, coming first in stubble ploughing and second on grassland. All this was done on Continental agricultural tyres.

Traditionally, the Austrian subsidiary of CGS Tyres provides the country's team with Continental agricultural tyres. "The ploughmen favour the ContiContract AC 85. Thanks to its gentle ground handling, this tyre is particularly well-suited to meet the ploughmen's demands," commented Josef Heigl, managing director, CGS Reifenvertrieb Österreich. "Tyres are highly important in this competition and the AC 85 helped to achieve optimum ploughing results."

15th September 2009/by Tyrepress Editors

McConechy's Reports Dip In Profits

According to the Herald Scotland website, Ayr-based tyre retailer McConechy's Tyre Service has posted pre-tax profits of £485,685 for the year to the end of April, down on the figure of £1.2 million for the previous year.

1st September 2009/by Tyrepress Editors

US Tariffs – Compatible with WTO Rules?

International News

As Reuters notes, the decision as to whether or not the US will impose tariffs on Chinese made consumer tyres is not a straightforward one. As the news service pointed out on August 26, Chinese trade sources indicate that these tariffs may not line up with a safeguard mechanism China agreed to when it joined the World Trade Organisation.

26th August 2009/by Tyrepress Editors

Kumho Experiences a Sense of Loss in Q2

The red ink was in demand at Kumho Tire during the preparation of its second quarter 2009 results. The South Korean manufacturer posted a net loss of KRW 98.3 billion (£48.15 million) during the three months to June 30. Sales in this period were down 23 per cent year-on-year to from KRW 614.3 billion (£300.90 […]

12th August 2009/by Tyrepress Editors

Superbrands Survey Acknowledges Top Industry Marques

Product News, UK News

Superbrands has released its 2009 Superbrands and Business Superbrands survey results, and several familiar names appear in the respective top 500 lists this year. Tyre manufacturer Michelin appears in the 88th spot and Pirelli at number 154. The trio of tyre Superbrands is rounded off by Dunlop, occupying the 265th position this year.

Business Superbrands – which began in 1995 – lists the UK’s strongest business-to-business brands as voted for by independent experts on the Business Superbrands Council and more than 1,500 individual business professionals from across the country. Our three tyre Superbrands were also present in this category – Michelin in eighth spot, Pirelli at number 20 and Dunlop at 53. They are joined by Bridgestone in the 54th spot and Snap-on Tools at 193.

28th July 2009/by Tyrepress Editors

Ceat Sales, Profit up in Last Quarter

During the quarter ending June 30, 2009 Ceat Limited received net sales totaling Rs 6.796 billion (£86.5 million), an increase of 1.51 per cent on the same period in 2008. According to the company’s unaudited results, net profit for the quarter stood at Rs 602 million (£7.66 million), markedly up on the Rs 106.7 million loss for the quarter ending June 30, 2008.

27th July 2009/by Tyrepress Editors

Pirelli Second Quarter EBIT Expected at 7.9%

According to a recent Deutsche Bank investors note, Pirelli EBIT is estimated to reach 7.9 per cent in second quarter/first half results. In addition, the analysts commented: “Revenues should benefit from a lower volume decrease, -13 per cent vs. -16 per cent in the first quarter and the price mix is still very positive (+5.3 per cent versus +6.9 per cent), benefiting both from a better mix and the disciplined behaviour of manufacturers so far.

27th July 2009/by Tyrepress Editors

Apollo Net Sales Up 24% in Q1

The unaudited Apollo Tyres results for the first quarter of the 2009-10 financial year, announced on July 23, show an overall year-on-year 24 per cent growth in revenues to Rs 16.3 billion (£204.8 million). Operations within India alone generated sales of Rs 11.8 billion (£148.3 million). Earlier in the day, shareholders approved an annual dividend payout of 45 per cent per share for the year ended March 31, 2009.

“Your company’s continuing attention to increasing efficiencies across the board and re-aligning costs to protect margins have paid high dividends,” commented Apollo Tyres chairman Onkar S Kanwar. “This has assisted us in improving margins and enabled your company to remain competitive.”

23rd July 2009/by Tyrepress Editors

Reports: Continental Considers 1 billion euro Capital Increase

Continental AG is reportedly considering a 1 billion euro (£865 million; $1.4 billion) capital increase. According to an article published in the Financial Times, Conti CEO Dr Karl-Thomas Neumann is to make the proposal at a supervisory board meeting next week scheduled in advance of the company’s combination solution announcement, expected at the end of July. Neumann’s suggested capital raising is being described as “an alternative to a merger with Schaeffler,” FT said.

According to the newspaper recent plans for Continental to regain control of the merger through a reverse takeover of its 90 per cent shareholder have been “torpedoed” by Schaeffler Group. Schaeffler is reportedly negotiating with its backs to delay loan payments for two years. Under current terms it would have had begin repaying a first 500 million euro debt tranche in January 2010. Meanwhile, Continental is said to need a “quick merger or a capital increase” owing to the fact that it has 800 million euros in debt maturing in August and a further 3.5 billion euros maturing in 2010.

21st July 2009/by Tyrepress Editors

Continental AG Posts Half-Year Profit

Based upon preliminary figures for the second quarter of 2009, Continental AG is reporting a “clear profit” for the three-month period, with an adjusted EBIT of 283.0 million euros. Reported EBIT for the quarter was 38.8 million euros, compared with a loss of 34.3 million in the first quarter. These results, says Continental, demonstrate the company’s “unwavering operational strength in the midst of the ongoing crisis in the automotive sector.”

“In an extremely difficult business environment and despite the current paralysis due to its uncertain future, Continental still achieved its operating goals,” said Continental Executive Board chairman Dr. Karl-Thomas Neumann on July 20.

20th July 2009/by Tyrepress Editors

Analysts Hail ‘10x Better Than Expected’ Continental Results

Morgan Stanley has raised its estimates for Continental AG shares following what the analysts described as “much stronger than expected second quarter results” According to Morgan Stanley the pre-announced second quarter results reveal an adjusted group EBIT figure “10 times higher than…expected.” The 5.9 per cent EBIT margin therefore compares very favourable with the analysts’ 0.6 per cent forecast.

Furthermore, this positive surprise appears to be split 50 per cent between the Auto and Rubber groups, where sales in the Chassis & Safety division and “strong winter tyre sell-in won the quarter.” However, the analysts also warn that while the company has obviously benefited from “early winter tyre sell-in…this cannot be extrapolated into the third quarter where we think profit will certainly be lower.”

20th July 2009/by Tyrepress Editors

Hofmann Helps MIRA Stay Balanced

MIRA, the leading automotive design, development and certification consultancy, has chosen a Hofmann geodyna 6900p wheel balancer for its vehicle dynamics laboratory. The geodyna 6900p wheel balancer features a number of patented innovations, including virtual plane measurement to ensure accurate balance results that are insensitive to ambient conditions such as temperature, humidity, fatigue and overload. In addition, it also includes a so-called “WeightMiser” function which allows removal of sufficient vibration from a tyre and wheel by applying a lower amount of weight than a normal balance function recommends, thereby reducing the amount of costly balance weights required.

20th July 2009/by Tyrepress Editors

Advance Estimates Point to Increased Apollo Quarter Profits

Apollo Tyres is set to release its results for the quarter to June 2009 on July 23. Advanced preliminary estimates for the period have already been released by research firm IIFL: According to IIFL, during the quarter Apollo’s sales are expected to increase 6.1 per cent year-on-year to Rs 11.415 billion (£145.45 million). Net profit is anticipated to increase 12.4 per cent to Rs 547 million (£6.97 million).

7th July 2009/by Tyrepress Editors

New Pneumatic Wheel Lifter

Sykes-Pickavant has recently launched a ‘Pneumatic Wheel Lifter’ designed for “efficient, quick, and safe changing of wheels.” According to the manufacturer, using the new product results in a reduction of risk of injury for one man operation. Te Pneumatic Wheel Lifter lifts wheels in less than 10 seconds in one continuous movement. t also has an additional compressed air outlet to connect an air wrench with free access to wheel nuts.

7th July 2009/by Tyrepress Editors

B.F. s.r.l. Increases Production Capacity

Since 2003 B.F. s.r.l. has been one of the leading producers of car balance weights using tin and zinc in compliance with European directive 2000/53/EC. Recently, development of the factory’s clip plant has enabled the production capacity to be greatly increased.

At Autopromotec B.F.’s representative, M. Prestini advised T&A, “The company has always followed a practice of using a plastic coating for weights. This procedure was established initially to cover the balancing weights sold to Nordic countries where resistance to corrosion was paramount. With the introduction of zinc balance weights, as a replacement for lead, the company carried out numerous evaluation tests and using the results from this, coupled with the knowledge and experience gained from our many years in the wheel weights industry. It was obvious that zinc weights also needed to be coated.

“One of the strongest reasons for using a plastic coating on zinc weights is in order to avoid the possibility of a rogue electrical charge when an uncoated weight contacts the alloy wheel, the weight is likely, in a very short space of time, become completely oxidized. B.F. fully respects the standards for wheel weights required by car manufacturers, to meet a minimum of 500 hours saline fog test resistance.”

7th July 2009/by Tyrepress Editors