Tyres can’t function without this critical raw material. Whether its natural or synthetic rubber you are interested in, articles bearing this tag feature this indispensable polymer.
As many as two million motorists in the UK are putting their lives at risk by never checking their tyre pressure or tread, according to a survey launched by the RAC foundation today. The warning comes at the start of “National Think Before You Drive Month”, which is launched by the RAC Foundation in association with the FIA Foundation, Bridgestone.
Yokohama Rubber has been appointed as the official tyre supplier to the World Touring Car Championship. The manufacturer will replace Michelin for the 2006 season.
The company will also supply the control tyre for the first FIA European Touring Car Cup to be held this October at the Vallelunga circuit in Italy.
Nankang Rubber Tyre Co Ltd has launched a new pattern for its Sonar brand. According to the company the Sonar SX1 is aimed at the high performance market, and the company is planning to introduce new sales channels in across Europe countries in 2005. Sizes will also be enlarged to between 15 and 19 inches in order to cater for demand form tuning shops.
Yokohama Rubber has announced that it will introduce a four per cent price increase in the price of domestic replacement tyres in September. The last domestic replacement tyre price increase was a 5-6 per cent hike in May 2004. Local news sources are reporting that the price increase could cover as much as 60 per cent of input cost increases.
In the last few days Michelin’s share price has fallen four per cent, prompting analysts to ask questions about the manufacturer’s cash flow. Deutsche Bank analysts discount suggestions that natural rubber price increases are the main reason for the drop in share price. Instead they agree with bearish predictions that despite 9.2 per cent operating profit margin in 2005, the company isn’t generating enough cash flow. However, future labour cost savings coupled with lower capital expenditure will boost free cash flow generation in the next 2-3 years, the analysts believe.
Goodyear Tire & Rubber Co is to increase investment at its plant in northeast China by more than 10 per cent between now and 2007. The move is designed to offset rising raw material costs, by increasing the production of premium products, according to the company’s Asia Pacific president, Pierre Cohade. Goodyear hopes to profit by sales of replacement tyres, which now account for about half of China’s tyre market and are growing “sizeably” as Chinese drivers buy new tyres, Mr Cohade told Reuters.
Australia’s Ansell Ltd has slashed the value of its tyre-making joint venture with Goodyear Tire & Rubber Co by more than half, citing the impact of an influx of cheaper imports and rising raw material costs. In a move largely factored into analysts’ estimates, Ansell said it plans to write down the carrying value of its investment in South Pacific Tyres, or SPT, by $80 million Australian dollars to about A$58 million.
The AA Motoring Trust and County Surveyors’ Society (CSS) has called for the government to lead a review of the 1.6 millimetre tread depth limit. The call comes in response to “research evidence from real crashes,” says the report. At the same time the report called for greater investment from local authorities in road surface renewal.
Toyo Tire & Rubber Co. Ltd is to “spin off” the Nitto brand division of Toyo Tire (USA) Corp, incorporating it as a separate company. The new business will be called Nitto Tire North America Incorporated, from 1 July 2005.
Toyo Tire & Rubber Co Ltd is to reorganise its European sales structure by establishing two companies – Toyo Tyre (UK) Ltd in the UK and Toyo Tire Benelux BV in the Netherlands. The new companies will be subsidiaries of Toyo Tire Europe GmbH (TTE) which itself has only been in operation since January 2005.
The Director of British Rubber Manufacturers’ Association, John Dorken, will be undertaking a sponsored trek in support of the children of Chechnya in August.
John is the Treasurer and Secretary of Medical Aid and Relief for the Children of Chechnya (MARCCH). MARCCH is a registered charity set up in 2001 to help the young victims of the long running conflict in Chechnya. Money is needed to meet the refurbishment and running costs of the orphanage as well as expanding activities into medical assistance.
In 2002 John and his daughter, Marina undertook a similar trek in the Himalayas, walking above the Tibetan monasteries in Sikkim to the base of the world’s third highest mountain, Kanchenjunga, and for their efforts received close to £9000. This year John will be warming up on the most famous trek in the Andes – the Inca trail – and then embarking on further trek around the highest mountain in South East Peru – Ausangate – described as ‘high, tough and cold’, taking him up to 5165 metres (nearly 17000 feet). Last time it was pretty challenging and this time will be no easier – and he will be three years further from the prime of youth!
For details of how to contribute go to the website www.marcch.org or telephone: 020 8883 8899.
(Akron/Tire Review) Goodyear Tire & Rubber Co has agreed to sell its Wingtack adhesives resins business to Sartomer Company Inc, a unit of the French energy firm Total SA, for a reported $65 million. The sale includes a production facility in Beaumont, Texas, adjacent to Goodyear’s synthetic rubber plant there.
Goodyear said it will continue to supply raw materials to the adhesives resins plant. The adhesives resins business, with 115 employees, produces Wingtack brand hydrocarbon resins, which are used in pressure-sensitive and hot melt applications.
(Akron/Tire Review) Workers at Goodyear Tire & Rubber Co.’s wire plant in Asheboro, North Carolina, voted to be represented by the United Steelworkers (USW). A secret ballot election was held last week, with a final vote of 173-147 in favor of union representation. The USW said that Asheboro workers participated in a card check election in 2004 “that validated the USW as the official employee representative.” However, some workers there dissented, and legal action was taken. The National Labor Relations Board was brought in to conduct the secret ballot vote.
Avon Tyres believes motorists are wasting more than £1 billion a year and increasing the risk of accidents by not checking tyre pressures. According to the manufacuturer’s calculations, up to 90 per cent of vehicles on Britain’s roads do not have the correct pressure in their tyres.
This, in turn, is believed to have a knock effect that stings consumers to the tune of an extra £230 million on new tyres every year. Researchers said that at any one time, 90 per cent of vehicles had at least one tyre under-inflated by 10 per cent of the recommended pressure. This equates to a 15 per cent reduction in the life expectancy of the tyre or an extra £5.12 per year cost to the driver – or £230 million if extended to all UK drivers.
(Akron/Tire Review) Goodyear Tire & Rubber Co has reported that it has “reclassified” financial information to reflect the integration of its chemical products business segment into its North American tire segment. The reclassification applies to financial information for each of the three previous years, ending on 31 December 2004.
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