results Archives - Page 35 of 52 - Tyrepress

Posts

Michelin Recalls Pilot Sport Extra Load Tyres

Michelin is recalling its Michelin Pilot Sport Extra Load tyres in size 255/35 ZR 20 97Y. According to an official statement, “this decision results from the analysis of customer returns in Europe, which has revealed an anomaly that in certain cases may lead to a rapid loss of air pressure in the tyre. This situation constitutes a potential safety risk.” The manufacturer says it will therefore exchange all of the tyres in question.

As a precautionary measure Michelin has decided to exchange all the subject tyres. UK readers wishing to query Michelin further can phone the following number: 0800 056 7200. Callers in the Republic of Ireland should dial 01 459 5955.

4th January 2006/by Tyrepress Editors

Beissbarth Tops Industry Poll

The latest industry poll of the ‘hot 100’ automotive groups reveals that 60 per cent of the top firms are supplied by Beissbarth UK .

20th December 2005/by Tyrepress Editors

Cooper Reports Results of Fixed Spread Tender Offer

(Akron/Tire Review) Cooper Tire & Rubber Co. announced that its tender offer to purchase up to $175 million in aggregate principal amount of its outstanding 7 ¾ per cent notes due 2009, 7 5/8 per cent notes due 2027, and 8 per cent notes due 2019 expired yesterday at 5:00 p.m., Eastern time.

15th December 2005/by Tyrepress Editors

Campbell-Ewald Gets Bigger Michelin Slice

(Akron/Tire Review) Michelin North America (MNA) said it has consolidated its online communications with its other advertising and marketing communications, awarding all of that business to Campbell-Ewald. The agency has had MNA’s passenger tyre advertising account since 2001.

13th December 2005/by Tyrepress Editors

Hayes Lemmerz 3Q Sales Up 11 per cent

Hayes Lemmerz International, Inc today reported that sales for the fiscal third quarter ended 31 October 2005, rose 11 per cent to $604.0 million from $545.9 million for the same period last year. However Hayes Lemmerz reported net losses of $13.3 million, compared with $5.3 million in the same period last year, and issued revised guidance for 2005.

8th December 2005/by Tyrepress Editors

Bridgestone Renews PR Contract for Sixth Year

Bridgestone UK has renewed its contract with PR specialists Nexnet for the sixth consecutive year. The Leeds-based agency has been retained by the tyre company to continue handling all its UK corporate, business-to-business and consumer PR throughout 2006.

28th November 2005/by Tyrepress Editors

TIC: ‘Part Worn Tyres a Cause for Concern’

The sale of part-worn tyres is still a cause for concern, the Tyre Industry Council has reported. These concerns are backed-up by the environmental protection services at Glasgow City Council who found in checks at tyre dealerships, that a high percentage of the second-hand tyres checked did not meet the legal requirements and therefore could have posed a risk to an un-suspecting motorist.

22nd November 2005/by Tyrepress Editors

Nokian Begins Lay-off Negotiations

Today Nokian Tyres began the statutory negotiations for the lay-off of some personnel as well as for possible dismissals of around 100 employees, working at the car tyre production facility in Nokia, Finland. The aim of the procedure is to adjust the car tyre production to suit current tyre demand and inventories.

21st November 2005/by Tyrepress Editors

MAHA at Aftermarket Show

MAHA has signed up for next year’s Aftermarket Show. The event, which runs from January 12 to 15 2006 at Birmingham NEC, has grown “rapidly” in recent months, according to organisers.

On display at the MAHA stand will be the LPS 3000 High Power Dynamometer Roller Set and Display Console. The company will be demonstrating the product’s capabilities through pre-recorded results of actual tests. With the roller set on the stand, MAHA will also show the workings of the hardware.

15th November 2005/by Tyrepress Editors

Sumitomo Rubber Publishes Strong Q3 Results

Sumitomo Rubber Industries has published sales of 120 billion yen (£581 million, up 8 per cent year-on-year) and operating profit of 9.3 billion yen (£45 million up 18.6 per cent year-on-year). Analysts report that results were ahead of plan and tyre sales particularly “outperformed forecasts.” Exports are reported to have been particularly strong and high performance tyres are said to have sold well domestically.

As a result of the strong quarter Sumitomo has raised its full year forecast to sales of 500 billion yen (up 6.3 per cent) and operating profit of 46 billion yen (up 1 per cent). However, Deutsche Bank analysts said: “We feel that the company is somewhat conservative about our fourth quarter. Our current forecasts are sales of 496.0 billion yen [and] operating profit of 50.0 billion.”

15th November 2005/by Tyrepress Editors

SmarTire Reports Strong Quarter

SmarTire Systems Inc has reported gross revenue of $594,000 for the quarter ended 31 October 2005, an increase of approximately $292,000 or 97 per cent compared with the same quarter of 2004. Total sales to the original equipment manufacturer (OEM) market for the quarter ended were approximately $437,000, an increase of approximately $264,000 or 153 per cent against the same quarter of 2004. SmarTire will file its Form 10-QSB for the first quarter ended 31 October 2005 by 15 December 2005.

Al Kozak, president and CEO of SmarTire, said, “We are beginning to see results from our shift in focus toward value-added systems for the OEM market. We are very encouraged by these results. Although they are well below where we expect to be in the coming quarters and years, it is clear we are moving in the right direction.”

10th November 2005/by Tyrepress Editors

Hankook Has Net Gains Despite Cost Increases

(Akron/Tire Review) Hankook Tire Co saw profits increase 16 per cent in the third quarter, reaching $51 million against sales that rose 7 per cent to about $450 million. The South Korean tyremaker said the results were due to increased sales to automakers and price increases.

“Sales rose as Hankook raised prices of tyres in the US two times this year and once in Europe,” said Suh Min Chul, assistant manager of Hankook’s investor relations department. Hankook Tire, he noted, paid 11 per cent to 15 per cent more for raw materials compared to previous periods.

9th November 2005/by Tyrepress Editors

Trelleborg Wheel Systems’ 3Q Results

During the third quarter 2005 Trelleborg experienced a strong trend in both agricultural and industrial tyre sales. Between January and September sales rose by 12 per cent compared with 2004 totalling 721 million Swedish Krona. Operating profit rose by slightly more than 40 per cent compared with the previous year, amounting to 55 million Krona. Trelleborg puts this down to increased sales volumes, new OEM customers, favourable product mix and high utilisation of capacity. Price increases were said to have offset increased raw material costs.

4th November 2005/by Tyrepress Editors

Continental Results Too Good to Last?

Analysts have raised questions about the long-term staying power of Continental AG’s recent spate of impressive financial results. “Continental’s “clean” EBIT of 420 million euros was 70 million euros above consensus and 100 million above our expectations,” Deutsche Bank analysts reported, adding: “With current high EBIT margins, in excess of 11 per cent, it’s difficult to see further improvement especially since 62 per cent of revenues are OE related and since OEMs are currently struggling.”

3rd November 2005/by Tyrepress Editors

SmarTire Reports Year End Financial Results

SmarTire Systems Inc has published its results for the financial year ended 31 July 2005. The company reported revenue of $1.46 million compared to $1.66 million in 2004. Net loss for the year totalled $14.3 million compared with losses of $11 million in 2004.

31st October 2005/by Tyrepress Editors