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Amtel-Vredestein Publishes 2006 Annual Report

Amtel-Vredestein released its audited 2006 Annual Report on June 15. The report remains subject to shareholder approval at the company’s Annual General Meeting of Shareholders, to be held in Amsterdam on June 30. The company previously published its summary 2006 and first quarter 2007 earnings results on 16 May 2007, and the audited accounts as included in this 2006 annual report are substantially the same as the previously reported un-audited results. However a number of adjustments have been made.

The company’s annual sales have been adjusted to $817 million versus the previously reported $823 million. This change occurred because $6 million in revenue has been reclassified as inter-company transactions in the fourth quarter of 2006. Profit from operations also reduced to $33 million from $36 million, primarily because of additional provisions related to AV-TO subsidiary. Net loss was also reduced by $2 million to a new figure of $5 million as a result of approved adjustments.

20th June 2007/by Tyrepress Editors

Saving Lives With Worn Tyres

While rubber is frequently used as a reinforcing material in buildings designed to withstand earthquake damage, the rubber used for such purposes is generally virgin rubber – an increasingly expensive commodity. However two Turkish students have built a working model of an earthquake resistant wall using old truck tyres, and the results of their tests are attracting interest from experts in this area of construction design and those looking at practical and environmentally friendly tyre recycling solutions.

Mehmet Gezici and Alper Kurt, both students at Aydın Özel Yesevi College have been working on earthquake related issues since the beginning of the 2006-2007 academic year, and their recent efforts have been concentrated upon building a wall which offered the flexibility needed for earthquake resistance. They found that worn out truck tyres could be incorporated into the construction of new buildings to make a more flexible structure, and the outer walls of existing buildings can also be given extra reinforcement through their use.

19th June 2007/by Tyrepress Editors

Motorists Urged to Remember Tyres

June 5 to 12 is Auto Safety Week in the Australian state of Victoria, and this year the campaign is placing a heavy emphasis on tyre safety. As part of the program motorists are being given a timely reminder of the same important safety issues that would sound very familiar to – and are unfortunately largely ignored by – drivers in most countries.

Appropriate tyre maintenance is no less overlooked in Australia than in other parts of the world, and the preliminary results of an ongoing test conducted by the business group VACC (Victorian Automobile Chamber of Commerce) and motorists’ organisation RACV (Royal Automobile Club of Victoria) confirm the finding of previous surveys, showing that one in every five cars on the roads in the state of Victoria are fitted with at least one unroadworthy tyre, while a further twenty per cent of vehicles have at least one tyre that has reached the end of its safe working life. Even more disturbing was the finding that more than half of those motorists stopped as part of the test said they did not know how, or when, to check their tyres.

6th June 2007/by Tyrepress Editors

Tyres Under Inflated and Insufficiently Checked – Study

Yet another reminder of the importance of frequently checking tyre pressure has come from the results of a survey conducted by the Institute of Advanced Motorists’ Trust. The survey of approximately 500 drivers showed that on average only 18 per cent of men and 4 per cent of women are checking vehicle tyre pressure once a week, the recommended frequency. And only a minority of motorists – 37 per cent of men and 32 per cent of women – conduct monthly pressure checks.

Air pressure facilities at garages were found to be largely accurate, with 80 per cent accurate to within 5 psi at 30 psi, and almost all the others accurate to within 7 psi. However the majority of motorists appear to be unaware that the recommended inflation pressures given by car manufacturers and at garage facilities are for “cold” levels, when even a short drive from home to the garage can cause tyres to become heated. The result of inflating heated tyres to cold levels is that they can end up being between 12 and 15 per cent under inflated.

16th May 2007/by Tyrepress Editors

Hayes Lemmerz Reports Estimated Q1 Results

On May 15 Hayes Lemmerz International, Inc., global supplier of wheels, brakes and powertrain components, announced their estimated results for the first quarter of 2007 and issued updated guidance for the 2007 full fiscal year. The estimated results are unaudited, have not been reviewed by the company’s independent auditors, and are subject to adjustment during the course of preparation and review of the Hayes Lemmerz quarterly financial statements.

For the fiscal year first quarter 2007 Hayes Lemmerz expects to achieve sales of approximately US$560 to $565 million, Adjusted EBITDA of approximately $54 to $58 million, slightly negative free cash flow and capital expenditures of approximately $16 million.

16th May 2007/by Tyrepress Editors

Q1 Results “Better Than Expected” – Nokian

Nokian Tyres had a “better than expected” first quarter of 2007. During the quarter Nokian Tyres recorded sales of approximately 200 million euros a 34 per cent gain on the 149.4 million euro reported a year earlier. Operating profit trebled, with profits of 39 million euros achieved during the quarter.

Nokian cite the main reasons for these better than expected results to be continued strong sales growth in Russia plus stronger than expected summer tyre sales. Winter tyre pre-sales exceeded previous year and the newly launched Nokian Hakka summer tyre range boosted summer tyre sales. Nokian Tyres’ targets for 2007 will remain the same. The company’s projected full year net sales are 900 – 1,000 million euros.

23rd April 2007/by Tyrepress Editors

Alcoa Results Reach New High

Wheel manufacturer Alcoa has announced an all time high first quarter result for the first three months of 2007, with income from continuing operations recorded at US$673, or $0.77 per diluted share. Net income for the quarter was $662 million, or $0.75 a share, nine per cent more than Q1 2006 and almost double the amount recorded in the fourth quarter of 2006.

Quarterly revenue increased 11 per cent from a year ago to $7.9 billion. Fourth quarter 2006 revenues were $7.8 billion. According to Alcoa chairman and CEO Alain Belda, this improvement can be in part attributed to the company’s focus on higher value-added lines, such as aerospace products.

11th April 2007/by Tyrepress Editors

Rockwell Automation Names New Automotive and Tyres VP

Rockwell Automation has named John Genovesi vice president of its automotive, tyre and rubber industry initiative. In his new role, Genovesi will lead the company’s global sales efforts directed at helping automotive, tyre and rubber machine builders, components suppliers and end manufacturers compete on a global basis. Since joining the company in 1989, Genovesi has served in a variety of sales positions including branch manager in both Rochester and Buffalo, N. Y. Most recently, he served as the district manager in Cleveland, Ohio.

“John’s previous management positions gave him the opportunity to clearly demonstrate his superb leadership and communication skills,” said Keiran Coulton, senior vice president, Rockwell Automation. “His passionate drive for results and extensive sales experience make him uniquely qualified to lead our automotive, tyre and rubber industry initiatives, enhancing our ability to deliver high-value solutions to our global customers.“

2nd April 2007/by Tyrepress Editors

UK Heavy Vehicle Sales Plummet During February

Monthly figures released by the ACEA show dismal UK sales of heavy commercial vehicles for February 2007 compared with data recorded a year earlier. These results contrasted with Europe-wide figures that revealed mild growth in most market segments.

New UK registrations of commercial vehicles weighing 16 tonnes and over were down by 28.4 per cent on February 2006, with only 1,372 vehicle registrations. This was the largest percentage decrease measured anywhere in Europe, and the ACEA attribute these figures to the decline in orders experienced after the Euro 4 emission regulation came into effect last October. Throughout the EU an average 11.2 per cent increase in registrations was recorded.

27th March 2007/by Tyrepress Editors

Bridgestone Named as Which? Best Buys

Two of Bridgestone’s tyres have been named “Best Buys” by leading UK consumer magazine, Which? The magazine tested 28 tyres in varying sizes from various manufacturers, with the Bridgestone B250 competing in the 13-inch “Supermini” class, and the Turanza ER300 tested in the 16-inch category. A range of attributes were scrutinised, including dry braking, wet braking, wear and noise. Both the Bridgestone tyres fared well in all these categories, particularly in dry handling where each was given four stars out of a potential five.

“These results are tremendously encouraging for us,” said Andy Lane, marketing manager at Bridgestone UK. “We invest a great deal of time and money in ensuring our products are among the safest, most reliable, and most comfortable on the market, and this test demonstrates that investment is paying off.”

23rd March 2007/by Tyrepress Editors

Goodyear India to Pay Dividend – updated

As reported yesterday, Goodyear India has stated that a meeting of the company’s board of directors will be held on March 25 to review the annual financial results for the year ended December. 31, 2006, and to recommend the payment of dividend, if any.

As of March 21 Goodyear India shares were trading on the Bombay Stock Exchange at Rs 143.65 (£1.68), down Rs 0.55 or 0.38 per cent.

22nd March 2007/by Tyrepress Editors

Accuride Posts Q4, Annual Results

Components manufacturer Accuride Corporation has released its financial results for Q4 2006 and for the twelve months ending December 31, 2006. The company reported Q4 net sales of US$344.9 million, an increase of 15 per cent compared with the same period the previous year. Accuride attributes this expansion primarily to the continued robust demand in the commercial vehicle industry and the partial pass-through of raw material costs.

7th March 2007/by Tyrepress Editors

Putting a Spring in Your Step

Tyres & Accessories have previously reported on similar trials in the US, and now an international construction publication reports that the humble recycled tyre is being tested as a surfacing material here in the UK. Trials of a new recycled rubber material that will potentially be used for repaving the UK’s many miles of deteriorating public rights of way are progressing in rural Nottinghamshire.

2nd March 2007/by Tyrepress Editors

Faulty Lambda Sensors Increase Pollution

NGK Spark Plugs, which manufactures lambda sensors under the NTK brand name, recently commissioned an independent expert report to determine the impact of a defective Lambda sensor on the output of toxic emissions and fuel consumption.

1st March 2007/by Tyrepress Editors

Sales Up, But Cooper Still Posts Larger Loss

(Akron/Tire Review) Despite seeing positive returns from its new operations in China, Cooper Tire & Rubber Co. still posted a large loss for fiscal year 2006. The company reported full-year sales of $2.7 billion, up 24% from the year prior, but a net loss of $79 million, compared to a 2005 net loss of just $9 million.

1st March 2007/by Tyrepress Editors