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Toyo Results Highlight Financial Difficulties

Toyo Tires has released its consolidated business results for the first three quarters of the 2008 financial year, revealing results down on those a year earlier. Net sales for the nine month period were 269,357 million yen (£1.98 billion), just under one per cent less than for the first three quarters of the 2007 year. Operating income, at 611 million yen (£4.5 million), plummeted 95.3 per cent from last year’s figure of 12,951 million yen, and net loss for the nine month period amounted to 9,990 million yen (£73.57 million) as opposed to 6,946 million yen in 2007.

9th February 2009/by Tyrepress Editors

Falken’s UK Tyre Sales Soar 30% in 2008

Falken representatives are reporting that the Japanese brand saw UK sales shoot up 30 per cent in 2008, “making Falken in the UK the largest growth area for Falken in Europe if not the world.” The aim is to make Falken a leading brand in the mid-range segment, a part of the market that industry observers expect to swell further as the economic climate appears to be prompting premium customers to look for more competitively priced alternatives.

Jon Limmer, Falken brand manager, commented: “Our dealer network have embraced the simple structure we have implemented which reflects the Micheldever policy of ‘right product, right price, right time.’ Consistency is crucial to the development of any program and we have enjoyed this for some time with Falken. We work together as a partnership and the results are there for all to see.

4th February 2009/by Tyrepress Editors

Bridgestone Expands “Dreams at heArt” Programme

Following record results in 2008, with more than 40,000 entries from 20 European countries received, Bridgestone plans in 2009 to expand its “dreams at heArt” competition to the Baltic States and Romania. In addition to prizes, says the tyre major, this year winners will again receive school visits from Bridgestone staff, who will arrive armed with a playful educational programme on road safety and ecology that includes an authentic GP2 racing car.

The “dreams at heArt” children’s drawing contest aims to encourage children to start thinking about road safety, and invites them to express their creativity in drawings or paintings. The competition is open to all primary school children in Europe up to the age of 11 years (split into 3 age groups, 0-7 years, 8-9 years and 10-11 years) and features a different theme for each annual edition.

28th January 2009/by Tyrepress Editors

Cooper to Announce 2008 Results on 26 February

Cooper Tire & Rubber Company has informed interested parties that the company is to announce its 4th-quarter/year-end 2008 financial results before the market opens on Thursday, 26 February. Company management will discuss the financial results in a conference call beginning at 11:00 Eastern Standard Time (16:00 GMT) on the same day. The call will be webcast on the manufacturer’s investor relations webpage at www.coopertire.com. The webcast will be available until the following Thursday, 5 March.

28th January 2009/by Tyrepress Editors

Apollo Tyres Net Profits Fall Almost 90%

Apollo Tyres Ltd has reported a nearly 90 per cent fall in net profits in the third quarter of the company’s 2008/2009 financial year. Consolidated net profit after tax totalled just 89 million rupees (£1.254 million, 1.383 million euros) compared with 820 million rupees (£11.553 million, 12.749 million euros) in the previous year. The greatly reduced profits come off the back of a roughly 10 per cent decline in consolidated revenue, which fell from 12.4 billion rupees (£175 million, 193 million euros) to 11 billion rupees (£155.074 million, 171.234 million euros).

19th January 2009/by Tyrepress Editors

Bridgestone Gets Adrenalin Pumping in Australian Tyre Test

An evaluation of 14 tyres conducted by Australia’s Motor magazine for its annual Tyre Test has seen Bridgestone’s Potenza Adrenalin RE001 dominate proceedings. In a range of tests including wet and dry slalom, wet and dry braking, lateral G-force measurements and overall lap times, the Adrenalin scored a total of 120.1 points, almost five points ahead of its nearest road tyre competitor.

“We’re happy to applaud the Bridgestone Potenza Adrenalin RE001 as this year’s performance road-tyre winner,” stated Motor magazine journalist Sean Cleary. “It demonstrated outstanding consistency and even offers decent value against its competitors.”

15th January 2009/by Tyrepress Editors

Employees Give Conti the Thumbs Up

Unhappy in your job? Go and work for Continental. A survey undertaken in Germany indicates that workers at Continental are happier with their employer than the ‘industry benchmark’. And while Conti doesn’t state that its staff spring out of bed each morning with an unquenchable enthusiasm for the day’s work that lies ahead, it comments that the findings of the “BASICS live” employee survey conducted by the University of Manheim, in collaboration with the tyre and automotive components manufacturer, show Conti to have faired far better than the benchmark results in several subject areas.

8th January 2009/by Tyrepress Editors

Amtel-Vredestein Announces Submission of FY2007 Annual Report

Amtel-Vredestein N.V. has announced the submission of its unaudited annual accounts and annual report for the 2007 financial year to the Netherlands Chamber of Commerce in accordance with article 2:394 of the Dutch Civil Code. The annual accounts have not been adopted by the company’s general meeting and have not been audited by Amtel-Vredestein’s auditor. The financial year 2007 unaudited annual accounts and annual report, says the company, have been merely made public to fulfil the obligations of article 2:394 of the Dutch Civil Code. Amtel-Vredestein adds in a statement that, in this respect, it should also be noted that the Dutch Ministry of Economics has denied the company’s request for an exemption from the obligation to draw up, present and adopt its audited financial statements for the financial year that ended on 31 December 2007.

5th January 2009/by Tyrepress Editors

PCL Release New Digital Tyre Gauge

PCL has launched a new digital tyre tread depth gauge designed to offer “simplicity at its best, in a robust yet lightweight design with 3 different read settings.” The DTDG1D04 Gauge’s toggle allows the user to set to metric, decimal inch or faction inch according to their preference, with results displayed on a large, easy to read LCD display.

The fraction inch setting operates to a display accuracy of 1/64” and for those who are still not used to metric. It allows easy calibration (0-25mm / 0-1″) for zero reset and features a zero setting in any position.

5th December 2008/by Tyrepress Editors

Cooper Tire, Local Officials Meet to Discuss Future of Findlay Factory

News sources in the US state of Ohio have provided details of meetings between state and local officials and those at Cooper Tire regarding the status of the company’s Findlay, Ohio facility. The Toledo Blade, which comments that Cooper is Findlay’s largest company and the meeting was held “in hopes of keeping it that way”, reports that during the November 26 meeting the tyremaker was given a “strong pitch” for retaining the facility, one of four Cooper plants potentially facing closure in the US.

2nd December 2008/by Tyrepress Editors

General Grabber Gets Tire Rack Notice

Continental Tire North America’s General Grabber HTS has earned the top rating among light truck/SUV all-season tyres in a recent Tire Rack track test. According to CTNA, the Tire Rack testers ran the tyres – size 255/55R18 – against competing lines on a 2006 Porsche Cayenne, reporting that “ride quality, road handling and driver feel were first rate on the HTS stating,” CTNA said.

“We are very pleased that a General brand tire performed so well in Tire Rack’s testing,” said Travis Roffler, CTNA’s director of marketing. “The Grabber HTS test results are just one more example of how well this stellar product line performs, and the level of quality that has been placed into all General tyres.” (Tire Review/Akron)

2nd December 2008/by Tyrepress Editors

More than 60% of UK Drivers Soft on Tyre Pressure, Says Michelin

Michelin has taken its “Fill up with Air” roadshow throughout the UK and Ireland, checking and adjusting drivers’ tyre pressures in a campaign intended to highlight the potential safety benefits, fuel savings and reduced emissions that are directly related to having the car’s tyre pressures correctly set. A disturbing statistic to emerge from the roadshow is, says Michelin, that more than 60 per cent of cars on British roads are running with incorrect tyre pressure; 35 per cent have dangerously under-inflated tyres.

1st December 2008/by Tyrepress Editors

Corus Cutting Steel Production as European Demand Slackens

In order to align its production levels with demand in the European market, Tata Steel subsidiary Corus announced in October plans to reduce its third quarter (October to December 2008) production by one million tonnes of crude steel, the equivalent of 20 per cent of its output. The company has now decided to extend the production cuts beyond December. Corus says it expects to produce about 30 per cent less crude steel than planned during the two quarters to the end of March 2009.

To meet this planned reduction Corus, currently Europe’s second largest steel producer, will temporarily idle one blast furnace at each of its IJmuiden (Belgium) Port Talbot and Scunthorpe facilities, the last of which manufactures steel rod from which tyre cord is produced. The company will also adjust output levels on its downstream production units to suit market conditions in respective regions and end-use sectors.

18th November 2008/by Tyrepress Editors

Toyo Sales Up, Income Down in Half Year Results

Toyo Tires has released its consolidated business results for the first half of this fiscal year (ending 31 March, 2009). The report shows that the company’s tyre segment had upped its net sales from 120 billion yen in April-September 2007 to 123 billion yen (£841 million; 1 GBP = 146 JPY) this half-year. However, the company’s operating income in the same period dropped to 1.13 billion yen (£7.77 million), 16.2 per cent of the same period in the previous year, which yielded 6.99 billion yen.

Meanwhile, in the second quarter (July-September 2008) net sales fell to 60.4 billion yen (£419 million) from 61.6 billion in Q2 ’07-’08, while the tyre segment produced a Q2 ’08-’09 operating loss of 126 million yen (£875,000).

12th November 2008/by Tyrepress Editors

Maxxis Trucks Features in Off-Road Racing Game

The Maxxis brand features in the new Playstation 3 and Xbox 360 computer game Baja: Edge of Control, adorning the trucks of off-road racers depicted within the game. The game was developed by 2XL Games Inc. and is published by THQ.

With 1,000 miles of drive-to-horizon landscape, the game attempts to capture the intense action and atmosphere of off-road racing events such as the annual Baja 1,000 and features trucks belonging to Pete Sohren and the McMullen & Bell team. Players must build their own vehicles and attempt to conquer harsh desert terrain, including towering mountains and steep cliffs. Just like the drivers who compete in off-road sports, they vie for sponsorship based on their results and work with an advanced support system that includes helicopter and truck crews.

10th November 2008/by Tyrepress Editors