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Kumho Tire Increases Q1 Revenue – but Income Remains in the Red

The Kumho Asiana Group has posted its first quarter 2008 results, and despite achieving what the company has called ‘favourable business results’ group-wide and increasing revenue in its Kumho Tires business division, income figures for the company’s tyre operation continued to be negative. The entire group recorded the highest quarterly revenue in the company’s history, KRW4.98 trillion (£2.45 billion). From this came an operating income of KRW270.2 billion (£132.93 million) and net income of KRW41.1 billion (£20.22 million). Kumho Tires posted an increase in revenue of KRW 71 billion (£34.93 million) or 15.6 per cent to reach a figure of KRW 524.7 billion (£25.81 million). Similarly, operating income rose by KRW 6.7 billion (£3.30 million) or 30.3 per cent compared to the same quarter last year, to KRW 28.8 billion (£14.17 million). The operating margin was 5.5 per cent.

16th June 2008/by Tyrepress Editors

Cambridge Solar Car Runs on Michelin Motorbike Tyres

A group of Cambridge University students has been praying for plenty of sunshine – but not because they are on holiday. The team of four students are responsible for the first ever solar-powered journey from Land’s End to John O’Groats. Backed by a team of around 40 other students from the Cambridge University Eco Racing team (CUER), the drivers aim to inspire the public about environmental issues and sustainable technologies.

The solar car, Affinity, which has been given a special order to drive as a prototype vehicle, is thought to have a top speed of around 50-60mph and scheduled displays schools and other venues along the 934-mile route. And for those of us in the tyre trade, it is interesting to note that team are achieving their impressively low rolling resistance results on a set of Michelin M45 motorcycle tyres!

13th June 2008/by Tyrepress Editors

Isle of Man TT victories for Dunlop, McGuinness and Plater

Public road racing plays an integral part in the development of Dunlop’s motorcycle tyres, and the British manufacturer’s ‘Race to Road’ philosophy is one that facilitates the delivery of the best race-derived technology to consumers. The recent Isle of Man TT race, an event considered by some to be the most notorious public road racing event in the world, is for Dunlop the perfect testing ground for the company’s tyres – and recent results suggest the manufacturer has passed the test with flying colours.

Following what proved to be one of the most competitive Isle of Man TT Senior races in recent memory, John McGuinness, aboard his Dunlop-shod Padgetts Manx Gas Racing Honda, emerged victorious once again. A year after attaining the first ever 130mph lap around the famous Mountain Course, McGuinness took to the top step of the podium for the 14th time. The result means that only public road racing legend Joey Dunlop, who took 26 wins, is more successful than McGuinness at the Isle of Man TT.

11th June 2008/by Tyrepress Editors

Pro-Cut Europe Launches New Website

Pro-Cut Europe has launched a new company website www.procuteurope.com. The website offers current and potential customers the opportunity to find out more about what the company calls the best on-car brake lathe in the world. Visitors to the website will find information about the lathe including a live demonstration, press releases and testimonials. The website also has a profit calculator allowing visitors to fill in the amount of MOTs, pad changes (without discs), sales car preparation and warranty jobs they carry out per week and how much profit they could be making by resurfacing discs. One of the more popular pages is frequently asked questions which answers many of the current myths around resurfacing Including: “I can make more profit per hour replacing discs than resurfacing them”; “Resurfacing discs takes them below minimum thickness”; and “My part sales will go down if I resurface discs”.

16th May 2008/by Tyrepress Editors

Accuride Posts Quarter Loss Results

Components manufacturer Accuride reports that in the quarter to March 31, 2008 the company achieved sales of US$238.2 million, a decrease of 26.2 per cent on the same quarter a year earlier. This decline in net sales, says the company, reflects a 33 per cent decline in North American Class 8 production and a $24 million reduction due to products re-sourced by a light vehicle customer during 2007.

A net loss of $11.7 million was reported for the first quarter of 2008, compared to a loss of $1.9 million in the corresponding quarter of 2007. Adjusted EBIDTA was $18.5 million, compared to adjusted EBIDTA of $49.2 million a year earlier.

14th May 2008/by Tyrepress Editors

JK Tyre Quarter Figures

Results for JK Tyre’s quarter ended March 31, 2008 show a net profit of Rs 230.2 million (£2.87 million), an increase of 67.4 per cent over the corresponding quarter last year. This profit came through net sales of Rs 8.29 billion (£103.2 million).

Upon releasing the quarter results on April 29, vice chairman and managing director Raghupati Singhania commented that the company’s Board of Directors had approved the takeover of Tornel in Mexico, and that the company’s combined capacity post-takeover would be 940 tons per day.

2nd May 2008/by Tyrepress Editors

Semperit Releases New Speed-Life Range

The release of the directional tread Speed-Life in March has given the Semperit product portfolio a high performance summer tyre for the medium price range category. The manufacturer states that the main considerations adhered to in the design of the new tyre were safety and low rolling resistance, and Semperit is pleased with the results of its development work: Braking distance, compared with that of its predecessor, has been reduced by up to nine per cent, and it reports that handling, rolling resistance and comfort have also benefited.

Designed for powerful vehicles, the Speed-Life features a symmetrical, directionally-orientated tread pattern with four circumferential tread grooves. Explaining the design, Stephan Herbst, developer of the new Speed-Life, commented: “The solid, powerful central rib ensures safe driving stability and best steering response to slight course corrections and when travelling at higher speeds.” The balanced longitudinal and lateral stiffness of the inner tread ribs to the right and left of it, plus the rows of lugs in the shoulder intersected by lateral grooves, are intended to provide a good steering response to medium steering angles and precise handling on winding roads. “The interlinked tread lugs in the outer shoulder are a further benefit in terms of handling,” Herbst added. “They ensure reliable handling even when driving at the limit.”

1st May 2008/by Tyrepress Editors

Sale of Conti’s Truck Tyre Division Still an Option

A comment made by the CFO of Continental AG during a conference call indicates the German manufacturer still considers the sale of its truck tyre division an option for the future. According to a report published by Forbes, Dr. Alan Hippe said, “should the division be unable to reach the targeted margin, we will have to consider a divestment.” However Dr. Hippe added he doesn’t foresee such a transaction occurring in the short-term.

According to results Conti released on April 29, the company’s Commercial Tire division attained sales of 328.4 million euros during the first quarter of 2008, a decrease of 4.7 per cent on the previous year. Upon releasing the quarter’s figures Executive Board chairman Manfred Wennemer commented, “In the Commercial Tires division, we implemented measures to again significantly improve the margin.” However the unit’s adjusted EBIT margin was 3.8 per cent for the quarter, well below Continental’s adjusted EBIT margin target of 10 per cent for all divisions by 2010.

30th April 2008/by Tyrepress Editors

Yokohama Revises Annual Projections

Yokohama Rubber announced on April 25 that its projections for consolidated net sales and operating income for the fiscal year between April 1, 2007 and March 31, 2008 have been projected upwards. The new projections call for net sales to increase 10.6 per cent over the previous year, to 550 billion yen (£2.65 billion), and for operating income to increase 56.6 per cent to 33 billion yen (£159.22 million). The company also announced a downward revision in its projection for growth in consolidated earnings, with net income now projected to rise 28.3 per cent to 21 billion yen (£101.32 million).

28th April 2008/by Tyrepress Editors

National’s Revie Speaks of a Strong 2007, Confirms Expansion Plans

Healthy annual figures for National Tyres and Autocare were hinted at on April 22, along with a confirmation of the company’s intention to invest in expansion. Although the full year 2007 results are as yet available from Companies House, executive chairman Alan Revie disclosed that turnover in 2007 increased 15.8 per cent, from £87.7million to £101.6 million, and operating profit shot up 128 per cent, from £1.45m to £3.3m.

Commenting on the results, Revie said “2007 marked another year of significant progress for the company, and this creates a wonderful platform to launch our ambitious growth plans.” These growth plans, he reiterated, include investing more than £12 million in new outlets over the next five years. Mr. Revie said that although nationwide growth was anticipated, an emphasis on a number of key regions was planned. These areas include the London, the Home Counties, and the West Midlands.

23rd April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Researcher Finds Link Between Tyre Size and Driver Height

Feel as if others stand head and shoulders over you? Chances are that what you lack in stature will be made up for in the wheel department – but only if you’re a man. A researcher in Austria has uncovered a strong inverse correlation between male height and the diameter rim a person selects for their car.

“It seems more than co-incidental,” commented Dr. Felix Schmutzig from the Linz Institute. “Our study involved approximately fifteen hundred participants, ranging in height from 156 centimetres (5’1) to 193 centimetres (6’3), and the results show a clear preference from shorter men towards wheels with a rim diameter of or greater than 19-inches.” Taller men, in turn, were more likely to maintain standard factory fitted wheels on their vehicles. Dr. Schmutzig added that the shortest man in the study had recently purchased a US built SUV that he’d “pimped up” with 28-inch chrome “monsters,” to quote the driver’s own nickname for the wheels.

Curiously, this phenomenon does not appear to apply to women. From the 400 or so females participating in the study, no discernible relationship between height and wheel size could be ascertained. Addressing media in Linz, Austria on April 1, Dr. Schmutzig says that he now intends to widen the scope of his study to determine whether any additional correlation between physical attributes and tyre, wheel or vehicle size can be found.

1st April 2008/by Tyrepress Editors

Carlsson 1/14 RS Alloy Wheel

Carlsson has introduced its latest alloy wheel for the Mercedes C Class (W204), SLK, CLS, E Class and CLK models; the 1/14. It features a smart, black finish combined with a silvery surface and the 14-spoke design not only looks stylish, but makes the wheel comparatively light with no loss of strength.
The low weight means a lower unsprung mass and better driving dynamics, while another benefit of the wheel is the excellent brake ventilation, which results in improved braking performance.

The Carlsson 1/14 is available in sizes 8.5 x 19″ and 9.5 x 19″.

1st April 2008/by Tyrepress Editors

Cooper Announces US Recall

Cooper Tire & Rubber has issued a tyre recall in the US for 20 product lines manufactured at the company’s factory in Georgia, including the Discoverer, Wildcat and Wild Country ranges. The voluntary recall, instigated on March 14, has been put in place to address sidewall separation issues and covers a total of 48,037 tyres.

This is Cooper’s second recall in the US within a 12 month period; in July 2007 the company recalled 91,747 Dominator Sport A/T tyres as a result of allegations of tyre failure. Analysis and testing carried out by Cooper found “no manufacturing or design defect” in the tyres, however the company still chose to issue a voluntary recall.

26th March 2008/by Tyrepress Editors