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Nokian Shares Soar 18 per cent Following Positive Results

Analysts have interpreted Nokian’s positive results as an indication that the Finnish company’s move to Russia has paid off. Results published yesterday showed the company’s second quarter sales grew almost 60 per cent in the second quarter. “Net sales came in at 120.3 million euros, some 11 per cent better than expected; EBIT came in at 26.8 million euros some 45 per cent better than our estimate of 18.4 million,” Deutsche Bank analysts reported.

9th August 2006/by Tyrepress Editors

Bridgestone OP down 8.7 per cent

Bridgestone Corp. has reported that first half operating profit fell 8.7 per cent to 84.11 billion yen (£382 million) on account of raw material costs. Net profit dropped 67.7 per cent to 32.82 billion yen (£146.6 million), partly due to a one-off pension-related gain of 80.8 billion yen in the year-earlier period.

9th August 2006/by Tyrepress Editors

Marangoni Motorsport Gets Green Light For Motorsport Activities

Following achievements in Motorsport activity throughout 2004 and 2005, Italian tyre manufacturer, Marangoni, is now targeting further successes in 2006 with participation in three European championships. Firstly there is the Italian Hillclimb Championship.

31st July 2006/by Tyrepress Editors

Michelin Issues ‘Reassuring’ Profit Warning

Michelin has reassured market watchers that it will be able to achieve an operating margin of around 8 per cent for the full year, following the successful achievement of the same figure (equivalent to 644.7 million euros) in the first half of 2006. The company had previously predicted that it would achieve an operating margin of 8.8 per cent. Michelin achieved first half net sales of 8,023 million euros, up 7.1 per cent compared with the same period last year.

31st July 2006/by Tyrepress Editors

Cooper Results Out on 3 August

(Akron/Tire Review) Cooper Tire & Rubber Co. plans to unveil its second quarter and first half financial results before the market opens on Thursday, 3 August. Goodyear Tire & Rubber Co. has not said when its second quarter/first half figures will be issued.

25th July 2006/by Tyrepress Editors

Toyo Reports Record 11% Sales Increase

Toyo Tire & Rubber Co. Ltd has reported record annual net sales of 300.2 billion yen (£1.412 billion, 2.75 billion euros), an 11.2 per cent increase on 2005. Operating income for the 2005 financial year also grew, totalling 13.094 billion yen (£61.627 million, 90.5 million euros) up 8.5 per cent year-on-year. However this total was short of the company’s target of 13.6 billion yen. During the period, Toyo’s net income fell 22.1 per cent to 5.378 billion (£25.313 million, 37.2 million euros). Toyo’s results presentation explain that the fall in its various income totals was largely impacted by the rise in raw material costs that is effecting all manufacturers.

16th June 2006/by Tyrepress Editors

World First as New Rubber Road and Rail Highway Trial is Announced

Trials of the world’s first all rubber road and rail highway, funded by WRAP (the Waste & Resources Action Programme), are now underway in association with Holdfast Level Crossings Ltd. The HoldFast Rubber Highway (HRH) has the potential to recycle an average of 354,000 tyres in every one mile stretch of rubber highway. WRAP is funding the trial following an open call for demonstration trials using UK post consumer tyres in a range of new applications. The trial will incorporate 8,000 vehicle movements over an eight week period to assess early life performance of the HRH.

22nd May 2006/by Tyrepress Editors

US Old Tyres to Oil Programme Goes Ahead

(Akron/Tire Review) A group of investors led by a North Dakota man is moving ahead with plans to turn old tyres into oil. Ervin Lee of Minot, North Dakota, and his group of investors, including his brothers and Ron Nichols, the inventor of the oil-from-tyres process, bought a 9,000-ton pile of tyres from Moorhead’s former Tire Depot earlier this year.

19th May 2006/by Tyrepress Editors

4500 Visit Aftermarket Show

New figures released by The Aftermarket Show event organisers, Haymarket Exhibitions, show that more than 4500 aftermarket trade visitors attended the event in January of this year. In 2006, The Aftermarket Show was monitored closely and this research has brought about a number of changes to the event in 2007, one of which is the new trade two-day exhibitor package.

18th May 2006/by Tyrepress Editors

Apollo Tyres Reports 2005 Results

Publishing its full-year 2005 results Apollo Tyres Ltd has reported that it has crossed the 30 billion-rupee turnover mark, compared 26.56 billion the previous year. Operating profit soared 35 per cent to 2.22 billion rupees while net sales grew 18 per cent to 2.64 billion rupees.

8th May 2006/by Tyrepress Editors

Goodyear Has Record First Quarter

Goodyear Tire & Rubber Co. reported a net income of $74 million for the first quarter of the year against record first quarter sales of $4.9 billion. Sales for the quarter were up 2 per cent compared to the same period last year, while the net income results were up 9 per cent versus the first quarter of 2005.

Sales declined 5 per cent in the European Union Tire business compared to the first quarter of 2005, which was the strongest first quarter in the unit’s history. Price and product mix improvements were not enough to offset unfavourable currency translation of approximately $98 million and lower volume in the consumer replacement market.

5th May 2006/by Tyrepress Editors

Quicksilver Exhaust System for Aston Martin V8 Vantage ‘Sports’

Following the success of the QuickSilver’s DB9 Sports exhaust system, the QuickSilver development team has now designed a stainless steel exhaust system for the Aston Martin V8 Vantage. Now the V8 driver can enjoy a new level of sound that is appropriate to the Aston Martin name. The QuickSilver system will not spoil the enjoyment of the car for the high-mileage and urban driver as there are no intrusive tones in low or medium rpm.

28th April 2006/by Tyrepress Editors

Titan’s Q1 Sales Up 34 Per Cent

US company Titan’s first quarter financial results show that the company achieved a 34 per cent increase in net sales. First quarter 2006 net sales were $182.6 million, compared to $136.1 million in first quarter 2005. Gross profit increased by 29 percent, or $7.0 million. First quarter 2006 gross profit was $31.1 million ($24.1 million Q1 2005).

28th April 2006/by Tyrepress Editors

Record Recovery Levels for Responsible Recycler Scheme

Statistics newly released by the Tyre Recovery Association show that for the first time members of the Association (all of whom are affiliated to the TIC Responsible Recycler Scheme) collectively recovered over 320,000 tonnes of waste tyres in 2005. This represented more than a 12 per cent increase over the 2004 figure (285,000 tonnes) and is the first time the Scheme has passed the 300,000 tonnes barrier. Indications suggest this figure will rise even further in 2006. The UK industry is estimated to generate 475,000 tonnes of used tyre arisings annually.

28th April 2006/by Tyrepress Editors

Goodyear Announces Q1 Earnings Release

The Goodyear Tire & Rubber Company will report first quarter 2006 financial results before market opens on Thursday, May 4, to be followed by an investor conference call at 11:30 a.m. EDT. Participating in the conference call will be Robert J. Keegan, chairman and chief executive officer; Richard J. Kramer, executive vice president and chief financial officer; and Darren R. Wells, senior vice president, business development and treasurer. They will review Goodyear’s first quarter results.

26th April 2006/by Tyrepress Editors