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Cooper Posts Loss for 2005

(Akron/Tire Review) Citing a number of factors, Cooper Tire & Rubber Co. posted a net loss of $9 million for 2005, down considerably from 2004’s net profit of $201 million. The loss came against full-year sales of $2.2 billion, which was up 4 per cent vs. 2004’s sales of $2.1 billion.

Cooper said the 2005 loss was due to a combination of rising raw material costs, lower unit sales, plant inefficiencies and the impact of the strike at its Texarkana, Arkansas, plant last year. Improved pricing and product mix helped boost overall sales, Cooper said.

2nd March 2006/by Tyrepress Editors

35 per cent OP Increase at Conti – Analysts Predict

Deutsche Bank analysts are predicting that Continental’s operating profit will increase by as much as 35 per cent in the company’s fourth quarter results. They expect sales to reach 3,610 million euros, up 4.5 per cent on the same period last year. Deutsche Bank predicts profits will peak at 431 million euros, up 35 per cent against the market consensus of 390 million euros. This is put down to the reduction of exceptional charges levelled at the company – last year this reached 100 million euros in the fourth quarter.

22nd February 2006/by Tyrepress Editors

Analysts Predict Higher Sumitomo OP than Management

Deutsche Bank analysts are more optimistic than the management when it comes to predicting future results. The analysts forecast that Sumitomo will achieve 13 per cent more operating profit than the management predicts. “Working off our new…forecasts and historical 12-month valuations we lower our target price from 1,700 yen to 1,500 yen but maintain our Hold rating,” the report commented. “However, we still think it may only just sustain single-digit profit growth given the significant pull impact of rising input costs,” they added.

22nd February 2006/by Tyrepress Editors

CTNA Announces New Flagship Performance Tyre

(Akron/Tire Review) Continental Tire North America (CTNA) announced that its recently launched ContiProContact will serve as the new flagship luxury performance tyre for the Continental brand. The ContiProContact tyre replaces its predecessor, the ContiTouringContact CH95. “The ContiProContact outperformed the ContiTouringContact CH95 in virtually every category, including straight and lateral hydroplaning, as well as ABS braking performance in both wet and dry conditions,” said CTNA in a statement.

22nd February 2006/by Tyrepress Editors

Michelin Achieves Profit Growth Through Price Rises

Michelin has reported an operating income of 1,368 million euros for 2005, up 5.1 per cent on a year earlier. According to Financial Times Deutschland, this is well above financial analysts’ estimates and reflects the higher prices that Michelin has been able to achieve, more than compensating for raw material cost increases.

17th February 2006/by Tyrepress Editors

Trelleborg Group Shows Growth

The Trelleborg Industrial Group has published its financial results for 2005. Net sales were 24,170 million Swedish Kronor (SEK) or 2.57 billion euros, compared with the 2004 figures of SEK 22,912 m (2.43 bn euros). Net profits for the year, excluding restructuring costs, amounted to SEK 1,177 m (125.3 m euros); five per cent higher than the 2004 figure of SEK 1,122 m (119.4 m euros).

16th February 2006/by Tyrepress Editors

UK Fulda Challenge Team ‘Best Ever’

The 2006 Fulda Challenge UK team is heading back to Britain after its best Arctic performance yet. Kate Balchin (26) and Martin Yardley (38) travelled to the breathtaking Yukon Territory at the end of January to take part in the annual extreme sports adventure. The UK team finished in fourth place, 30 points behind the winning team. Kate finished third overall in a field of world-class female athletes and was presented with a cheque for $1,000 (Canadian).

Belgium’s Liesbeth Buytart and Germany’s Martin Hollerbach were the top performing woman and man respectively and they received a cheque for $3,000 (Canadian) each. The final results meant that the German Lowa team won the 2006 Fulda Challenge after leading the event from start to finish. They were awarded a Klondike gold nugget each.

7th February 2006/by Tyrepress Editors

Cooper Expected to Report Disappointing 4Q

Deutsche Bank analysts are expecting Cooper to announce losses of $0.14 per share when the company releases its fourth quarter results. The analysts are already describing the period as “another weak quarter.” Cooper is said to have under-performed the market in recent times. According to the Deutsche Bank analysts, Cooper’s third quarter North American (NA) volume declined 6 per cent compared with a drop of 1 per cent across the market.

1st February 2006/by Tyrepress Editors

Coach Company: Michelin Beats Bridgestone for Durability

Kirkcowan-based Kings Coach Hire, located in Dumfries and Galloway, has completed a trial using a set of Michelin and Bridgestone tyres on two similar vehicles operating on virtually identical local bus routes.

The Michelin 17.5 inch XZE2 tyres were fitted to a 31-seat midibuses in March 2005, with the tyre performance on both buses closely monitored. The Bridgestone tyres were replaced after 48,000 km whilst, in comparison, the Michelin tyres are said to have already covered 89,000 km, with a further 4mm of tread remaining.

30th January 2006/by Tyrepress Editors

Michelin Expected to Announce Operating Margin of 8.7 per cent

Michelin is expected to record a “stable” operating margin for 2005 when it announces its full-year results on 14 February. The price rises implemented by the tyre manufacturer have reportedly made it possible to compensate for high raw material prices. A consensus of the estimates of 15 analysts, suggests that the company will publish a 2005 operating margin of 8.7 per cent, according to Reuters.

24th January 2006/by Tyrepress Editors

JK Industries Back in the Black

JK Industries Ltd, the manufacturer behind the JK Tyre and Vikrant brands, recorded a turnover of 6.52 billion rupees (£83 million) between October and December 2005, a 30 per cent increase over the corresponding quarter of the previous year.

The quarter-end results also showed that the company’s Operating Profit (EBIDTA) has increased 100 per cent to 380 million rupees and the Profit Before Tax also registered an increase at 48.2 million rupees against a loss of 49.3 million rupees in the corresponding quarter of the previous year. Net profit was up at 24.7 million rupees against loss of 92 million rupees during the same period year ago.

23rd January 2006/by Tyrepress Editors

Rubber Recovery and Crumb Rubber win WRAP Tender

The results of WRAP’s (the Waste & Resources Action Programme) open tender are now in and Rubber Recovery Ltd, based in Barnsley, and Crumb Rubber Ltd, from Devon, have been named as winners. The tender asked potential applications to come up with new products made from used tyre. One of the winning suggestions uses retreading, while the other is based on a new concept.

19th January 2006/by Tyrepress Editors

Record Number of Automobiles Sold in Mexico in 2005

(Akron/Tire Review) A record 1.13 million automobiles were sold in Mexico in 2005, up 3.3 percent from the year before, the Mexican Automotive Industry Association, or AMIA, announced on Tuesday.

17th January 2006/by Tyrepress Editors

MAHA LPS 3000 Upgraded

The Maha LPS 3000 has now got a new operating system using MS Windows XP. An E.O.B.D connection is available for real time results, plots emission curves against power, carrying out driving trials, constant load or constant speed tests for engine mapping and to simulate a full road test.

9th January 2006/by Tyrepress Editors

GreenMan Technologies Delays Filing Year-End Results

GreenMan Technologies has announced that it expects to report “aggregate net loss for the fiscal year ended 30 September 2005 [of] between $14 and $15 million.” The company also said it will delaying filing its 10-KSB for the year. According to the company, this will take no more than 30 days and is necessary for it to finalise the accounting treatment of the pending divestiture of its Georgia operation. Greenman is recycles over 20 million scrap tyres per year in the US.

9th January 2006/by Tyrepress Editors