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Defective Tyres Rise on Leicestershire Roads

Further results from the TIC’s 2004 tyre safety campaign show a four per cent increase, to 17 per cent, in the number of defective tyres in use on the roads of Leicestershire.

In 2003 Leicestershire recorded that 13 per cent of vehicles checked had at least one tyre at or below the 1.6mm legal requirement. The national average is 12 per cent.

Leicestershire Constabulary’s road safety officer, PC John Budulis said: “I am very disappointed that so many people put not only their own lives at risk, but many other people’s by driving about on defective tyres. It only takes a few seconds to check the condition of your tyres, but very few people take the time to do so. Leicestershire Police are committed to making our roads safer and will continue to enforce the tyre legislation.”

17th January 2005/by Tyrepress Editors

Amtel Appoint Financial Director

Viktor Nekrasov has been appointed the financial director of Amtel holding and the chief financial officer of the parent company Amtel Holdings Holland.

In his new role he will be responsible for corporate finance, merger and takeover deals, as well as controlling the company’s financial activities.

17th January 2005/by Tyrepress Editors

Goodyear to Resolve Accounting Issue

Goodyear is to resolve some of its financial issues by working with South Pacific Tyres Australia to reach an agreement on how to account for $8 million through a supply deal between both companies.

According to news source Forbes, the tyre manufacturer is attempting to have this supply deal aligned under US accounting principles. The financial statements for South Pacific Tyres are prepared under Australian accounting principles, and then adjusted for use in the United States. These disclosures are required before Goodyear can file its amended annual report for 2003 with the Securities and Exchange Commission.

4th January 2005/by Tyrepress Editors

Hankook: Sales Up 15.3 per cent

Hankook has released monthly financial results for November, which show that the company has experienced a 15.3 per cent increase in operating profit and an 8.4 per cent increase in sales volumes. In this period tyre sales, by volume, increased from 2.761 million to 2.992 million. The fact that revenues increased more than sales volumes suggests that the company sold more of its higher profit products, indicating an improved product mix.

17th December 2004/by Tyrepress Editors

SmarTire Publishes Lower Q1 Losses

SmarTire Systems Inc has published first quarter results, which show a quarterly net loss of $2.38 million, or $0.02 per share. This compares with a net loss of $3.26 million $0.06 per share in the same quarter last year. At the same time the announced that its gross revenue has also decreased $126,357 to $301,169.

“As reflected in our recent announcements with Aston Martin, New Flyer and Redmer Industries, the company has focused considerable resources on securing strategic OEM accounts over the past months,” explained Robert Rudman, SmarTire Systems’ president and chief executive officer. “We see these OEM wins and key distributor signings as strengthening our position and revenue base going forward. With the availability of the new high-pressure systems for RVs, buses and commercial vehicles, the company is generating increased activity in these important target markets.”

15th December 2004/by Tyrepress Editors

Alliance Continues to Profit

In its recently published third quarter results, Alliance Tire has announced a net profit of $102,000 for the third quarter of 2004, compared with a net loss of $1.66 million in the corresponding period last year. Although this period represents the company’s third successive profitable quarter, quarter-on-quarter figures show a slight drop in growth.

Compared to 2003, Alliance reports that sales grew 26.3 per cent to $29.7 million. In the second quarter Alliance’s sales totalled $31.6 million. The company’s export figures continue to show impressive levels of growth. Alliance’s export sales grew by 37 per cent to $21.8 million compared with the same time last year. Agricultural, multi-purpose and industrial tyres for export make up approximately 75 per cent of Alliance’s export. Local market sales increased 4 per cent to $7.9 million, a figure that represents 27 per cent of total sales.

In the first nine months of 2004, the tyre manufacturer reports that net profits grew to $3.7 million compared with losses of $8.3 million in the corresponding quarter of last year. In the same period, sales increased to $93.4m, an increase of 29 per cent compared with the corresponding period in 2003.

Alliance chairman Isia Tchetchik said the third quarter growth was hindered by the port strike that prevented sales of $1.9 million. Despite this, he said, the company managed to achieve positive results that prove that Alliance is experiencing an improvement in business performance.

Joseph Anglister, Alliance’s president, said the break-through in sales to Central and South America continued in the third quarter, in particularly in Brazil where sales doubled to $5.1 million in the first nine months of the year. The company president also stated that Alliance continues to implement efficiency measures, something that likely to prove useful in the face of rising raw material costs. According to Mr Anglister, production costs per ton of output fell 2.5 per cent to $2.38 per ton, while production increased 19.4 per cent, to 27,527 in the third quarter of 2004.

29th November 2004/by Tyrepress Editors

Capirossi and Checa Have Successful Bridgestone Debuts

Loris Capirossi and Carlo Checa have made successful debuts, testing tyres for Bridgestone. The riders were testing Japanese rubber after Ducati switched suppliers from Michelin to Bridgestone. Capirossi shone with best results followed by Checa. The Aprilia, Proton-KTM and Kawasaki were also testing in Jerez.

25th November 2004/by Tyrepress Editors

Toyo’s Operating Income Doubles

Publishing its first half 2005 results, Toyo has reported that its operating income has rocketed 120.8 per cent, compared with the same period last year. In the period ended 30 September, the company’s operating income demonstrated the most marked increase growing from 1.893 billion to 4.18 billion yen (£21.4 million). Toyo achieved a 6.7 per cent increase in net sales rising from 120 billion to 128 billion yen (£657 million).

One explanation for the rapid ascent of the figures is the company’s increase of UHP and SUV sales. Sales of these high margin products have gone up 25.9 per cent, with tyre sales in general improving by 8.7 per cent. In Europe the company says that this has been largely down to favourable sales and marketing of new products including its Proxes T1R.

16th November 2004/by Tyrepress Editors

Starter Batteries Fail the Test

According to “Stiftung Warentest,“ Germany’s Which? equivalent, maintenance-free starter batteries promise much but often don’t deliver. Recently published battery test results shed a poor light on the 16 products tested. Of these only three reached the second-best mark, none was tested “A“. In particular the testers criticized the standards of battery capacity, which was generally not as good as indicated. Out of the 16 batteries tested, four that failed. The cheapest two batteries (each costing 41 euros) receive the worst results. By far the best battery was the “Power Bull“ from Banner, Austria. Moll’s “Kamina Start“ came second with Arktis’ “Qualitätsbatterie“ taking third place.

12th November 2004/by Tyrepress Editors

Deldo’s Count-Tronic

In a slight diversification from its core wholesale business, Deldo is promoting its new “Count-Tronic” system. During the last year the company says it has been testing different tyre counting systems in cooperation with an external development company. According to the Belgian wholesaler, the results were clear and Deldo chose to use and license the Count-Tronic system.

The Count-Tronic is designed to count every load with an electronic eye, which is subsequently followed up with a computer. This data is then saved making it possible to produce a print-out for each load.

Deldo believes that this technological development means it can provide an improved service and that the chances of incorrectly counting loads is now “non-existent.” Deldo’s Phillip Delcroix told Tyres & Accessories that the counting system works “very well” and that as a result the company sees itself as “the benchmark in accurate loadings.” The company also reports that many of it clients and suppliers have become familiar with the system and are now also interested in buying it.

12th November 2004/by Tyrepress Editors

Hankook UHP Sales Up 50 per cent

Hankook Tire has announced third quarter results, which were stronger than expected both in terms of income and product sales. The third quarter results show that Hankook beat Institutional Brokers Estimate System expectations by 20 per cent with net profits rising 30 per cent year-on-year to 46 billion South Korean won (£27.376 million). Quarter-on-quarter the same figures fell 2 per cent due seasonality. Following the same pattern, volume shipments rose 5 per cent year-on-year but fell 6 per cent quarter on quarter.

In addition, the third quarter saw the Korean company sell 50 per cent more UHP tyres than it did at the same time last year. This equates to 737,000 units in the last quarter. In total Hankook reports that sales are up 5.1 per cent. For Hankook, any news of increased sales is welcome as it will help offset rising raw material costs.

9th November 2004/by Tyrepress Editors

Continental Sime Exports Grow 40 per cent

Contental’s Malaysian joint venture partner, Sime Tyres, reports that it is on track to achieve 10 per cent increase in sales on the back of higher domestic and international demand, according to chief executive officer Mohd Shukri Baharom. Folowing the strong results, the company is expected to increase tyre production to 5.5 million this year, with exports projected to grow by 40 per cent.

In a move designed to further boost sales, the company says it will explore the regional market under the Asean Free Trade Area (Afta). “Afta will allow us to expand further,” Mr Shukri told journalists at a Simex 4×4 International Rainforest Challenge (RFC) 2004 briefing in Petaling Jaya yesterday.

9th November 2004/by Tyrepress Editors

Montupet Winds-up

French automotive supplier Montupet SA, has released first half results showing a reduction in the company’s turnover. The company, which produces PAX wheels, amongst other products, This year the company’s turnover totaled 225.8 million (£157.64 million) euros compared with 236.24 million euros the year before. In contrast to this the remainder of the company’s figures show significant improvements. Thus the company’s halved its net debts from 53.33 million to 24.3 million euros, while its net profit increased from 14.92 to 18.14 million euros (£12.66 million).

5th November 2004/by Tyrepress Editors

Bridgestone Sets Record Figures

Japanese tyre manufacturer, Bridgestone, has reported record figures for the first nine months of 2004, the company says. Bridgestone’s third quarter results show that the company produced a turnover of $15.8 billion, while making operating profits of $1.25 billion. The company says that this translates to a net profit of $724 million.

During the first nine months of 2004 Bridgestone recorded a turnover of $2.1 billion in Europe, while the company’s operating profits totalled $140 million. According to company, its US turnover reached $6.8 billion while its operating profit amounted to $235 million in this region. In the manufacturer’s home market of Japan, the company achieved roughly the same turnover but almost three times as much in terms of operating profit – $726 million.

5th November 2004/by Tyrepress Editors

Nokian’s New Records

The Finnish tyre manufacturer, Nokian, is reporting new record figures. The company’s turnover increased by 15 per cent to 39.8 million euros in the first nine months of 2004. Operating profit was also on the up and increased by 57 per cent compared with the first nine months of last year to reach 6.2 million euros. Management confirmed that they had significantly outperformed last year’s record results.

1st November 2004/by Tyrepress Editors