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Ambitious goals for CITEXPO in Shanghai

The organisers of last year’s CITEXPO, China’s International Tire Expo, were so satisfied with the results of the Shanghai show, that they have promised the second exhibition to be even bigger and better.
The CITEXPO is already the biggest international tyre exhibition in China and has attracted numerous international exhibitors and visitors from over 40 countries, including many European countries.
The exhibition will again take place in the Shanghai East Asia Exhibition Center, from 22-24 September this year. The organisers, from Reliable International Exhibition Services, Hong Kong, are aiming to make the exhibition “one of the biggest and most famous tyre exhibitions in the world.” To achieve this they will focus not only on players from the domestic Chinese tyre market, but also on the global marketplace bringing manufacturers, distributors, dealers, retailers, buyers, professionals, and other interested parties together in one venue.

1st September 2004/by Tyrepress Editors

Vredestein Annouce £305.6 million Turnover

In the 2003 financial year the Vredestein group has generated a turnover of 305.6 million euros (£205 million) of which roughly 200 million euros (£134.3 million) stems from new tyre business, the company has said. With this turnover the Dutch tyre manufacturer achieved an EBIT of 18.6 million euros (£12.5 million) and net earnings of 9.1 million euros. Talking to Tyres & Accessories, Vredestein’s managing director Rob Oudshoorn, who is responsible for the tyre business of the group, said that the company would be as successful as its competitors this year. Mr Oudshoorn could not and would not give detailed business results.

30th August 2004/by Tyrepress Editors

Sumitomo Record Improved Half-Year Results

Japanese tyre manufacture, Sumitomo Rubber Industries (SRI) has again improved its half-year results for the six months ended 30 June. In relation to the previous year, sales rose to £1.102 million, compared with £1.069 million previously. SRI’s operating income improved from £65.1 million in the first half of 2003 to £88.2 million in 2004. Almost 74 per cent of the company’s turnover comes from the tyre business unit. SRI’s operating income remains at 58.5 per cent.

27th August 2004/by Tyrepress Editors

“Transporting” Truck Tyre Test: Super Single vs Dual Tyres

The September edition of the German magazine “Transporting” has tested whether or not using super single tyres instead of conventional dual tyres on trucks can save fuel. Examining the effect that a lower rolling resistance has on reducing fuel consumption was not the only idea behind the comparison of both tyres. The testers also wanted to check if and how, the driving characteristics of a truck are influenced by the reduced weight of the super broad tyres. And the results – they found that utilising super singles on the rear axle “recognisably” deteriorates the spring/damping characteristics. However, there were no differences found between the two types of tyres with regards to lane keeping and traction. But, in accordance with expectations fuel savings of around four per cent were recorded during the tests.

26th August 2004/by Tyrepress Editors

Over 900 Tyre Tests Available Online

The Internet’s largest compilation of Tyres Tests is now available online. The tests, which cover more than 940 tyres from across the UK and Europe have been collated and published on the Tyres & Accessories for the first time. Each entry contains a brief profile, review and a reference to the original source.

In order to navigate this huge database, products can be searched in terms of brand, model, year, width, height, diameter or speed index.

The test database is regularly kept up-to-date and will include the results of the new winter tyre tests when they come out in early October.

To visit the tyre test database click here or look out for the ‘tyre tests online’ animation.

25th August 2004/by Tyrepress Editors

Bridgestone Forecasts ‘Overly Pessimistic’

According to Deutsche Bank, Bridgetone’s second half forecasts are overly pessimistic. The company’s projections are also said to assume low production volume and reflect an overly negative “cost-push scenario.” Instead Bridgestone’s strong first half results, which include an increase in turnover of 4 per cent and 29 per cent improvement in the companies operating income, have led analysts to project a more positive outlook and to affirm their advice to buy these shares.

20th August 2004/by Tyrepress Editors

Sauber Berate F1 Tyre Suppliers

The ongoing rivalry between Michelin and Bridgestone is having too much effect on the outcome of races, according to a BBC interview with Sauber team owner, Peter Sauber.

20th August 2004/by Tyrepress Editors

Nokian Announces Record Figures Too

Finnish tyre manufacturer, Nokian, has announced that it increased its turnover to 250.8 million euros (£166 million) in the first half of 2004. Compared with the first half of 2003 this represents a 19 per cent improvement.

6th August 2004/by Tyrepress Editors

Titan International Reports Favourable Results

Titan International has reported positive first half results, with net sales of $288.2 million, (£158 million) from $260.0 million compared with 2003. Second quarter net sales increased by 29 per cent, reaching $121.2 million, (£66 million) from the previous year’s figure of $94.0 million. The net sales, for the period ending 30 June, were adjusted to reflect the sale of Titan Europe, which brought sales of $131.0 million.

A net income of $5.6 million (£3 million) was recorded for the second quarter, resulting in a $10.9 million (£6 million) year-to-date sum for 2004. The figure compared favourably to the previous year’s net losses of $(8.2) million for the second quarter and $(14.1) million for the first six months. Diluted earnings per share were $.32 for the second quarter, compared to a loss per share of $(.39) for the corresponding quarter of 2003, resulting in a $.71 increase quarter-over-quarter. Year-to-date earnings per share leveled at $.57 measured against a $(.67) loss per share in the first half of 2003.

6th August 2004/by Tyrepress Editors

Goodyear Results ‘Deflate’ Analysts

Goodyear may have been in profit for the second quarter and may have posted record sales but not everyone is impressed. Deutsche Bank analysts have pointed out a number of flaws in the company’s optimism.

6th August 2004/by Tyrepress Editors

Conti is Becoming Analysts‘ Favourite

Continental’s recently published and extremly favourable half-year business results seem to have fired the imagination of analysts. After the German tyre manufacturer announced 9.9 per cent increase in turnover and a 21.4 per cent increase in EBIT, half a dozen company and market reports have been published arguing that Continental shares still have considerable development potential.

4th August 2004/by Tyrepress Editors

Pirelli Posts First Half Results

Pirelli has announced its preliminary first half results showing what it claims as “a strong improvement of all economic indicators.” While the results were in line with 2004-2006 targets, its net financial position is negative by approximately 2,050 million euros, against 1,745 million euros at year end 2003.

2nd August 2004/by Tyrepress Editors

Cooper’s Numbers Look Good

Analysts have reported that Cooper’s 2nd quarter results were better than they expected. The good results are said to be mainly due to improved performance from the Cooper tyre division. This is good news for the company because it is due to sell its Auto Parts division, making tyre production its core business.

23rd July 2004/by Tyrepress Editors

Maha’s New Test Lane

Maha has developed a new Profi test lane for workshops and MOT stations. The test lane will check brakes, suspension and tracking, and offers a print out of results within five minutes.

The test lane also features a large analogue and digital display with automatic or manual test programmes and is fully MOT approved for both class four and seven.

Profi can be linked to Maha’s range of lifts to complete the MOT bay. The Maha lifts, 4 poster, scissor and below floor, are all to the MOT specification and can befitted with play detectors, jacking beam, turn plates and recessed if required.

1st July 2004/by Tyrepress Editors

Hayes Lemmerz Financial Results

Hayes Lemmerz has posted its first quarter 2004 results, which reflect a 15% sales growth, reduced debt and a stronger balance sheet. Sales of the global supplier for the first fiscal quarter rose to $594.1 million from $515.3 million of the previous year. Earnings from operations for the first financial period climbed sharply to $26.2 million, compared with $14.4 million a year earlier.

17th June 2004/by Tyrepress Editors