Yokohama Invest In Philippines
Yokohama Rubber has announced that it will invest some 10 billion yen (£50. 9 million) at its Yokohama Tire Philippines subsidiary in a bid to increase its production capacity to 7 million tyres, by September 2006.
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Conti Gets Phoenix Go-Ahead
Product NewsThe EU Commission has given Continental the okay for its proposed takeover of Phoenix. “Therefore, there is nothing in the way of a merger of these two historic German companies anymore and we will find ourselves well positioned to deal with the worldwide competition,“ said Continental executive board chairman, Manfred Wennemer.
On Course to Deliver
Product NewsBrityrex International aims to deliver what its organisers, ECI International, promised from the beginning – an exhibition dedicated to the tyre and related industries.
Cooper Reports ‘Exciting Quarter’
Product NewsCooper Tire and Rubber has reported a 6 per cent year-on-year increase in its net sales, breaking its previous record for tyre operations.
Toyo Tire Launches US Construction Project
Product NewsToyo Tire & Rubber Co officially “broke ground” this week for its new manufacturing plant and warehousing facility in Bartow County, Georgia. State officials and local dignitaries witnessed the event which marks the official start of construction of the company’s first wholly owned North American tyre manufacturing facility.
The 1.03 million square feet building will be built on a 150-acre site and will initially be able to produce 2 million passenger, light truck and SUV tyres annually. Toyo has invested $150 million into the products so far.
Falken to Phase-Out Ohtsu
Product NewsFalken Tire Corp is to discontinue the marketing and distribution the Ohtsu medium truck tyre. The move will become effective from 1 January 2005.
Ford’s Harley-Davidson Truck to use Goodyear Wranglers
Product NewsThe Goodyear Tire & Rubber Company has announced that it has been chosen as the exclusive tyre supplier for the 2005 Ford Harley-Davidson F-Series Super Duty, a truck that becomes available in November. The four-wheel drive truck features 20 inch Goodyear Wrangler AT/S tyres, along with an optional 6.8-litre V-10 or 6-litre diesel V-8 engine.
“Supplying the tyres for one of the toughest, most popular trucks on the road is a job Goodyear is proud to claim,” said Mike Parnell, Goodyear’s vice president, original equipment. “This truck is an eye-catcher, and we want the tyres to play an important role in that appeal.” The truck will use Wrangler AT/S tyres in the LT275/65R20 size.
Dunlop Sport Maxx Put to the Test
Product NewsDunlop’s new performance tyre, the Sport Maxx, has been put to the test through the ‘Performance Car of the Year’ programme. Hailed as “the toughest media evaluation programme of its kind,” the annual test, conducted by Car & Driving, the UKs motoring media agency, puts top performance vehicles and their tyres through a series of road and track tests all over Europe.
Matador gets the Green-Light to Supply VW
Product NewsVolkswagen has selected Matador’s so-called “green tyre” for original equipment on its Polo model.
Goodyear Expands Availability of its ‘Unique’ Tyres
Product NewsGoodyear Tire & Rubber Company has announced that it will expand availability of its Assurance tyre. The company will add three more sizes of the product, which features TripleTred Technology.
The Fastest Four-Seat to Adopt Yokohama Advan Sport Tyre
Product NewsYokohama Rubber Co, Ltd has announced that its flagship sport tyre Advan Sport has been as the 20 inch option tyre for the Bentley Motors Continental GT. Bentley has adopted the 275/35ZR20 for the Mulliner Driving Specification Continental GT, on both front and rear axles.
Goodyear Appoints New Asia-Pacific President
Product NewsGoodyear Tire & Rubber Company has announced that Pierre E Cohade, formerly executive vice president of worldwide water and beverage company, Groupe Danone, will become president of Goodyear’s Asia-Pacific region.
Cooper in Lawsuit with USWA
Product NewsThe United Steelworkers of America (USWA) is to be tied up in yet another lawsuit, this time with Cooper Tire & Rubber. A grievance has been filed to delay the sale of the company’s Cooper-Standard Automotive division to the Cypress Group and Goldman Sachs Capital Partners.
Legal action is being taken on behalf of the 1,500 USWA members that work in four of the division’s plants across America.
Yokohama Creates New Hose Division
Product NewsYokohama Rubber has announced that it will create a hoses and coupling division as of the 1 October.
The company will merge the operation of Yokohama Hydex, a wholly owned subsidiary, so that the production and assembly of hoses are integrated under one chain of command. The move will be made in an attempt to improve the efficiency of the business.
The new division will head a hoses and coupling sales department, engineering department and quality assurance department. The Yokohama Hydex head office in Tokyo and Nagoya will be integrated with the MB Tokyo Office and MB Nagoya Office of Yokohama Rubber, respectively. And the branch office functions in Osaka and Hiroshima will be transferred to the new hoses and coupling sales department.
Hydex Tokyo and YH America, will now become 100 per cent subsidiaries of Yokohama Rubber. Yokohama Hydex employees will be transferred to Yokohama Rubber.
Goodyear Downgrade to Neutral
Product NewsJP Morgan has downgraded Goodyear Tire & Rubber from “overweight” to “neutral.”
Analysts claim that the downgrade is based on “valuation” and the company’s “less bullish growth prospects in 2H.” So far this quarter the company’s share price has appreciated 18 per cent in absolute terms and this combined with slowing growth rates has brought down the company’s rating. JP Morgan also asserts that Goodyear is unlikely to witness significant gains from its recent price increases.
