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NHTSA Denies RMA Petition

(Akron/Tire Review) The National Highway Traffic Safety Administration (NHTSA) has formally denied the Rubber Manufacturers Association’s petition to establish recommended cold inflation pressure using a tyre pressure reserve. The petition requested that NHTSA include a reserve tyre pressure sufficient to allow tyres to carry the maximum load of a vehicle at the new tyre pressure monitoring system (TPMS) regulation trigger point.

The Tire Industry Association (TIA) had supported RMA’s petition and expressed disappointment with the agency’s ruling. “We are disappointed that NHTSA decided not to build in an additional safety measure and grant the petition for reserve inflation pressure,” said Roy Littlefield, executive vice president of TIA, in a statement. “With this decision coming on the heels of the TPMS ruling, TIA is frustrated with NHTSA’s apparent lack of interest in what the tire industry has to say.”

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Related news:

  1. NHTSA Issues Final TPMS Regulations
  2. TIA Petition on TPMS Rule
  3. TIA Objects to NHTSA Denial of Reserve Pressure Request
  4. Companies Challenge Tyre pressure Rule
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Cooper Sets Price For Tender Offer

(Akron/Tire Review) Cooper Tire & Rubber Co. announced that it has priced its fixed-spread tender offer to purchase the $350 million aggregate principal amount outstanding of its 7-3/4 per cent notes due 15 December, 2009.

Cooper will pay $1,095.05 for each $1,000 principal amount of the notes tendered and accepted for payment in the tender offer, plus $34.44 for accrued but unpaid interest, said the company. The tender offer is scheduled to expire at 5:00 p.m. Eastern Time on Friday, May 20, unless extended, Cooper said.

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Related news:

  1. Cooper Makes Tender Offer to Buy Back Debt Notes
  2. Cooper Sets Prices for Tender Offer
  3. Cooper Announces Dividend
  4. Analysts See Oliver Acquisition as Positive Move for Michelin
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Toyo Increases Production at Kuwana Plant

Toyo Tire & Rubber Co., Ltd is to increase the volume of passenger car and light truck tyres produced at the company’s Kuwana Plant by approximately 1,000,000 units and 120,000 units a year, respectively, by the end of 2005. The company plans to invest 2.8 billion yen in this expansion of production, designed to address flourishing demand in overseas markets.

Toyo is also working to build a manufacturing base in North America, raise the production capacity of a joint-venture plant in China, and launch another joint-venture plant for truck and bus tyres in China. The increase in output at the Kuwana plant is said to be part of this ongoing effort.

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Related news:

  1. Toyo Announces Tire Production in the United States
  2. Enhancing a Global Position
  3. Toyo Increasing UHP, LT/SUV Production
  4. Continental Cuts Production at Charlotte Passenger Plant
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Goodyear Shares Overweight

J.P. Morgan Securities has cut its rating on Goodyear Tire & Rubber to neutral from overweight, citing valuation.

The shares rose 23 per cent in the last month against a three per cent rise in the benchmark S&P 500, the broker noted.

“The now-richer valuation, coupled with less favorable just-released April tyre pricing data, suggests stock could enter range-bound period,” said the company.

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Related news:

  1. KeyBanc Raises Goodyear Share Target to $48
  2. Good News for Goodyear Shares
  3. Analyst Reduces Earnings Estimates for Goodyear
  4. Analysts: Cooper Stock Worth ‘A Second Look’
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Is a BFNAT Strike Imminent?

(Akron/Tire Review) Recent statements by the bargaining committee representing workers at Bridgestone/Firestone North American Tire (BFNAT) plants in the US. indicate the union is prepared to go on strike, perhaps as early as next month. Talks between the tyre manufacturer and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International (USW) were scheduled to resume this week, but union negotiators say this could be their last attempt to reach an agreement.

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  1. Progress Reported in BFNAT-USW Talks
  2. Bridgestone Firestone Employee Contract Extension Approved
  3. Firestone Staff Stopped From Collecting for Liberian Workers
  4. Excellence Award Acknowledges Bridgestone Firestone OTR in US
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1000 Attend Brahler Industries Open House

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Nearly a thousand industry professionals attended an open house and trade fair held here at the world headquarters of Brahler Industries on 5 and 6 May. The open house featured a tour of the new Innovative Tread Replacement (ITR) facility, which is said to be the most advanced retreading facility in North America. Visitors had an opportunity to meet with representatives of Brahler’s Truckers Supply, Gaither Tool Company and Brahler’s Industrial Retreading, all operating companies of Brahler Industries. The trade fair offered visitors a chance to meet with top representatives of key suppliers such as Continental General Tire, Yokohama Tire, Michelin Ag Tire, Tech International, Marangoni Tread, Mid-West Truckers Association and others.

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Related news:

  1. Michelin Man Gets More ‘Socially Responsible’ in New Ads
  2. US Congress Orders Rolling Resistance Information Campaign
  3. Pneu-Logic to Supply 2 million RFID Chips to Mesnac in China
  4. Morghew Park Estate Chooses Michelin and Mitas Fitments
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New Toyo Advertising Campaign

Toyo is set to launch what it calls “an astonishing new, £600,000 advertising campaign.” The innovative ‘Vital’ campaign is the latest in a string of mould breaking campaigns, designed to position Toyo as the thinking driver’s alternative to ordinary tyres.
The campaign features a series of images from inside the human body. Toyo tyres are depicted as parts of the body vital to life, such as blood cells. These executions neatly mirror the tyres’ function, which is essential to driving. Developed with Northampton agency Engine, the anatomical illustrations, coupled with bold, stripped down copy, offer a thought-provoking message.

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  1. Toyo Equipped Cayenne Breaks Record
  2. Toyo Exhibits at “Auto Shanghai”
  3. Conti Launches Conti Curves Ad Push
  4. Goodyear Announced New Senior Marketing Position
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Tyres Blamed for Ferrari’s Poor Showing

Rival teams have blamed Ferrari’s poor start to the Formula One season on its Bridgestone tyres. Speaking in a press conference prior to the Monaco Grand Prix, Michelin supplied drivers including Red Bull Racing’s David Coulthard, Renault’s Giancarlo Fisichella and McLaren’s Kimi Raikkonen all pointed to inferior Japanese rubber as the reason for Ferrari’s struggles.

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  1. Sauber to Use Michelin Tyres
  2. Vettel Not Yet Burning Rubber
  3. Single Tyre Proposed for MotoGP
  4. ‘Think Before You Drive’
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Manual Handling of Tyres Guide Launched

The NTDA Regional Meeting, held at the Brityrex International exhibition on 11 May, played host to the launch of a new Guide to the Manual Handling of Tyres, drawn up by the Health and Safety Executive (HSE) in consultation with industry bodies and trade associations.

The Guide was launched by Chris Flint, HM Principal Inspector, HSE and one of the Guide’s authors. It is, he said, aimed at employers whose businesses involve the collection or delivery of new or used tyres and is relevant to employers who manufacture, store, distribute, collect, deliver and retail tyres and to retreaders, road haulage companies and bus operators. It is limited to dealing with the risk of musculoskeletal disorders arising from the manual handling of tyres during collection and delivery and does not cover tyre handling during manufacture and retreading.

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Related news:

  1. TIF Delegation Meets With MP
  2. Tyrespot Wins RMA Green Dealer Award
  3. Continental Delivers Long Tyre Life to Argos
  4. TIA Retreading & Recycling Conference Grows 60%
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Copeland Named to Head Goodyear Australian JV

(Akron/Tire Review) Joseph Copeland, senior vice president of business development, strategy and restructuring, for Goodyear Tire & Rubber Co has been named CEO of Goodyear’s South Pacific Tyres subsidiary. Goodyear owns a 50 per cent share in the Australian joint venture. Mr Copeland will report to the South Pacific Tyres board of directors, as well as to Pierre Cohade, president of Goodyear’s Asia/Pacific tire business.

Darren Wells, Goodyear’s vice president and treasurer, was promoted to senior vice president of business development and treasurer, reporting to Richard Kramer, executive vice president and CFO. Mr Wells will assume Joseph Copeland’s business development responsibilities as well as additional oversight responsibilities for the investor relations and tax functions.

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Related news:

  1. Tyre Companies Invest in China
  2. Goodyear to Boost Chinese Investment
  3. Goodyear Sets Quarterly Sales Mark, Hits $142 Million Profit
  4. Singapore Trade Minister to Open Tyrexpo Asia 2009
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Shareholders Move to Ditch Directors

(Akron/Tire Review) According to a report by Queensland Newspapers, Bridgestone Australia shareholders failed in a bid to oust members of the company’s board of directors at the firm’s annual meeting 9 May. Meanwhile, Bridgestone Australia chairman and CEO Makio Ohashi told shareholders that the financial situation wasn’t going to get better, warning of continued lower profits because of escalating raw materials costs and competition from imports.

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  1. The Effects of Raw Material Price Increases
  2. Bridgestone Corporation Reports Sales and Earnings for Fiscal 2003
  3. Bridgestone Reports Fire at its Largest Plant
  4. Bridgestone Officially Opens Steel Cord Plant in China
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Yokohama to Build Thai Plant

(Akron/Tire Review) Yokohama Rubber Co is to build a new tyre plant in Thailand to produce passenger and light truck/SUV tyres. The company said it would begin construction of the 11.5 billion yen facility this October, which will be located adjacent to its current Yokohama Tire Manufacturing (Thailand) Co. facility there. Yokohama said the new plant, with an initial capacity of 1.4 million tyres annually, will begin production in November 2006. The plant will be designed, the company said, to allow for further expansion as warranted.

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Related news:

  1. Yokohama Doubles Thailand Site Area
  2. Yokohama Rubber More than Double Vietnam Tyre Capacity
  3. Yokohama to Treble HPT Capacity at Shinshiro-Minami
  4. Yokohama to Increase Production Capacity in Thailand
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Hercules Acquired by FdG

(Akron/Tire Review) Hercules Tires & Rubber Co has officially announced that its senior management has “partnered” with private equity firm FdG Associates to acquire the Findlay, Ohio-based private brander and distributor. Hercules’ 33 dealer shareholders voted to sell their share to FdG

According to its statement, Hercules said the transaction was financed with equity from FdG’s second institutional fund, FdG Capital Partners II LP, and “will provide Hercules with the capital to further expand its Hercules branded private label program, solidify its industry position and capitalize on opportunities for continued growth and acquisitions.” Details of the deal were not disclosed.

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Related news:

  1. Statement Says Hercules Getting Equity Group Help
  2. Marangoni Expanding South American Presence
  3. GPX Sells Part of Business to Equity Firm
  4. Marangoni Establishes a New Partnership in Brazil
/by

Yokohama Reports Sales Increase

(Akron/Tire Review) Publishing 2005 financial results, Yokohama Rubber Co has reported that it achieved net sales of approximately 419.8 billion yen (£2.1 billion), up 4.5 per cent from the year prior. The company also reported favourable overseas sales in Europe, Asia and the Middle East, while replacement market sales in Japan were also up. Yokohama’s Tire Group sales increased 6.7 per cent, to 307.9 million yen (£1.5 billion). Yokohama’s management projects a 6 per cent increase in net sales, a 14.5 per cent rise in operating income, and a 1.6 per cent increase in net income in the 2006 financial year. Group operating income grew 19 per cent to roughly 18.2 billion yen.

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Related news:

  1. Yokohama’s Income Decreases
  2. Yokohama Announces 3 per cent Sales Increase
  3. Part 2 of Yokohama’s Mid-Range Plan Announced
  4. Yokohama Reports Increased Earnings
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Chinese Tyre & Rubber Exhibition Goes Annual

Tyres & RubberTech China was first staged in 1998 and has been held every other year. Now, in response to demand from exhibitors and visitors, it has been decided to stage the show annually and the next event will take place in Shanghai from 9 – 11 November. The organisers estimate that the 2005 show will cover 10,000 square metres.

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Related news:

  1. Sumitomo to Build Radial Plant in Thailand
  2. Forecast Predicts Chinese Rubber Growth
  3. Bridgestone Officially Opens Steel Cord Plant in China
  4. Conti Sime to Raise Tyre Output
/by

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