“Impact Wrenches Can Be Health Hazard” – Report
Pneumatic impact wrenches such as those typically used for commercial wheel bolting could prove to be a health hazard if used for more than a few minutes a day, says a new assessment.
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Titan Purchase Committee Member Named
Product News(Akron/Tire Review) In its third quarter financial results, Titan International released the names of those who are serving on its special committee to conduct sale negotiations with One Equity Partners.
Toyo Promotes Tyres in Mod Prod Series
Product NewsAs far as motorsport is concerned, Toyo targets potential consumers by sponsoring the Toyo Tyres Modified Production Saloon Car Championship. This year’s winner, Gareth Porter, had more reason to celebrate than most having driven a 240BHP Peugeot 205 to victory beating the likes of BMWs along the way.
Bridgestone to Exhibit at Tokyo Motor Show
Product NewsBridgestone will run a booth at the 39th Tokyo Motor Show to be held at Makuhari Messe in Chiba City from 22 October to 1 November.
The theme of the Bridgestone stand this time is “Technology for People”, and will comprise three corners – Premium, Future, and Safety – and will introduce aspects of tyres and technology supporting automobiles, which are such an important part of people’s lives.
Goodyear Expects Temporary Impact from Hurricane Rita
Product NewsGoodyear has implemented temporary reductions in production at its North American tyre facilities due to disruptions in the supply of certain raw materials resulting from the impact of Hurricane Rita in Texas and Louisiana.
Easy Round
Product NewsRema Tip Top has launched a new wheel straightener called Easy Round.
The portable device can be mounted on to a tyre changer; requires no external power source (such as air or electricity) and has no over-heads or maintenance costs.
Tyre Mechanics Short Course
Product NewsThe 30th Annual Tire Mechanics Short Course is to be held concurrently with the Tire Technology Expo and Conference in Stuttgart, from 6 –9 March 2006. According to the organisers, this four-day educational and developmental course will provide engineers and scientists with an in-depth, intense study of developments surrounding tyre engineering.
Winners choose Avon
Product NewsSeven of the top ten competing cars at last Saturday’s Brighton Speed Trials were run on Avon tyres, including the winning car, a Gould Puma which set a time of 9.45 seconds for the quarter mile sprint.
Has Your Battery Got A Touch of the Sun?
Product NewsAs the busy summer holiday motoring season draws to a close Kwik-Fit is offering motorists a free battery check-up, explaining that even though most batteries die in the winter, it’s actually the summer that inflicts most of the damage.
According to Kwik-Fit, on a hot summer’s day – with the engine running – temperatures under the bonnet can reach up to 90 degrees centigrade. This extra heat causes the chemical reaction within a car battery to speed up and in older batteries this can lead to a total failure.
Bridgestone Gears up for MotoGP
Product NewsMotoGP is gearing up for action again with the Czech Grand Prix in Brno, Prague. The circuit has hosted motorcycle GP’s since 1987 and has always offered fascinating racing action. Bridgestone has conducted numerous development tests in Brno, and has always scored strong results at the Czech Grand Prix, such as fourth place in last year’s round. The German Grand Prix four weeks ago also marked a significant step forward in Bridgestone’s tyre development programme, with Ducati star Loris Capirossi clocking the fastest lap of the race, and with Kawasaki’s Shinya Nakano scoring a remarkable sixth place, only 4.5 seconds behind race winner Valentino Rossi.
Tyre technicians used the summer break to develop a choice of three or four different front tyres, and seven to ten different rear tyres for Brno. In order to satisfy the different demands of the riders and to cater for all possible weather conditions, a total of 1100 tyres were shipped to the Czech Republic.
BERU Achieves Double Digit Quarterly Revenue Growth
Product NewsBeru AG’s preliminary first quarter figures show the company increased its total sales revenues in the first quarter by 14.5 per cent to 97.9 million euros. The company attributed the strong first quarter results to new product “start-ups” in the core division of Diesel Cold Start Technology and in the youngest division of Electronics and Sensor Technology, which includes TPMS sensors.
According to executive board chairman, Marco von Maltzan, the group now plans to achieve growth in sales revenues at a high single-digit percentages in its current financial year. The goal is for operating profit (EBIT) to increase at the same rate as sales revenues. Beru considers itself well positioned with its strong product pipeline, but expects weaker growth in the coming quarters in view of only moderate growth in demand for automobiles combined with an increasingly competitive environment and more aggressive pricing.
Sumitomo Rubber Reports ‘Firm’ Earnings
Product NewsSumitomo figures for the half-year ended 30 June 2005 show that net sales amounted to 230.6 billion yen (£1.15 billion) as opposed to 216 billion last year. During the same period operating income increased from 17 billion yen (£87 million) in the first half of 2004 to 20.6 billion yen (£103 billion).
Market analysts from Deutsche Bank described the results as ‘firm’ and increased their sales forecasts. “We leave our operating forecast unchanged, as we believe the company can offset rising material prices through tyre price increases, product mix improvement, and expanded production volumes,” said Deutsche Bank representatives adding: “Management remained conservative, leaving its full-year forecasts unchanged, suggesting that an upward revision is probable at some stage. We forecast 10 per cent operating profit growth in the 2006 full year, as further price rises and output expansion offset a range of cost increases.”
SEC Recommends Goodyear Penalties
Product News(Akron/Tire Review) The US Securities and Exchange has informed Goodyear Tire & Rubber Co that it is recommending civil and/or administrative enforcement action against the company in connection with Goodyear’s previously acknowledged accounting problems.
This “Wells Notice” has been issued in connection with the SEC’s investigation into accounting matters included in the company’s restatement of financial results, announced in October 2003, and related public filings. Wells Notices have also been issued to a former Goodyear CFO and a former chief accounting officer.
With the notice, the SEC is claiming Goodyear violated the Securities and Exchange Act of 1934 relating to the maintenance of books, records and internal accounting controls, the establishment of disclosure controls and procedures, and the periodic SEC filing requirements.
Recipients of “Wells Notices” have the opportunity to respond to the SEC staff before the staff make a formal recommendation on whether any action should be brought by the agency.
Toyo Tires: First Quarter Results
Product NewsToyo Tire & Rubber Co. Ltd. announces its consolidated business results for the first quarter of FY2005 (from April 1 through June 30, 2005). Net sales were 523.9 million euros (an increase of 13.9% from the same period of the previous year); operating income was 23.3 million euros; ordinary income was 26.1 million euros; and net profit totaled 5.3 million euros.
Michelin Covers US F1 Refund Costs
MotorsportMichelin’s half year financial results, published last week, include provision for the cost of reimbursing ticket holders at this year’s US F1 Grand Prix at Indianapolis, when seven Michelin-shod teams withdrew from the race. The cost, estimated at around 12 million euros, has been accounted for in the operating income figure before non-recurring items, says the company.
