BMW Equips New 6 Series with Bridgestone Runflat Tires in Japan
Bridgestone Corporation announced that it has begun supplying Potenza RE050 runflat tires to BMW for factory installation on 6 Series models sold in Japan.
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.
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Goodyear seeks another extension
Product NewsGoodyear Tire & Rubber is seeking an extension from regulators to file its quarterly report. The company said it plans to file the report by mid-June. As reported, the firm last month restated its net income for 1997 through 2003, less 65 million US dollars. Shares closed at 8.22 dollars, down 22 cents.
Chinese Leader Visits Hankook Tire Plant
Product NewsChinese President & Party General Secretary Hu Jin Tao visited the Hankook Tire plant in Huai-an, Jiangsu Province and talked to the workers. More than 40 other senior provincial officials were also on hand.
Michelin Hosts Seminar On Rubber Tree Parasites
Product NewsIn Brazil recently, Michelin hosted the world’s first research seminar on parasites that attack rubber trees (hevea) and which are threatening the rubber industry in Central and Latin America. Microcyclus Ulei is a parasite that attacks and eventually kills rubber trees and Michelin has set up a laboratory and research centre at its plantation in Bahia, Brazil, where 14 resistant varieties of hevea have been identified and are being tested.
Goodyear Sues Over Price Fixing
Product NewsGoodyear has filed lawsuits against 12 chemical companies, accusing them of price fixing and overcharging for the synthetic rubber EPDM (Ethylene Propylene Diene Monomer) during the period from 1994 to 2002. EPDM is used in tyres and hoses as a strengthening agent and to provide resistance to ozone and ageing. The 12 companies are based in the USA, Germany, Italy and The Netherlands and one – Crompton Corp. of Connecticut – is reported to have already pleaded guilty to conspiring to fix prices of rubber chemicals and is to pay a $50 million fine.
TIC Plans Radio Adverts
Product NewsIn the UK, the Tyre Industry Council plans a series of radio advertisements to support the growing number of regional tyre safety campaigns. The 30-second safety messages are the result of a commitment by members of the British Rubber Manufacturers Association to contribute financially towards the radio campaigns, which will go on air in the north-east and north-west of England, Scotland and Northern Ireland. The major TIC Associates in these areas have agreed to match the financial contribution. The first adverts can be heard this month in support of the north-east Tyre Safety Campaign.
IRSG Predicts Growth In Rubber Consumption
Product NewsDelegates at the 40th assembly of the International Rubber Study Group were told that rubber consumption in 2003 grew by 4.8 per cent to 19.01 million tonnes. Natural rubber consumption was up 5.6 per cent and that of synthetic rubber rose 4.3 per cent. This year, total consumption is expected to rise by 3.8 per cent and by 4.9 per cent in 2005. The main driver of this rise will be the Asia-Pacific area, with predicted growth in consumption of 5.6 per cent this year and 6.7 per cent next year.
Pelmar Engineering Buys Goodyear Equipment
Product NewsPelmar Engineering, the Israel – based dealers in used, reconditioned and new tyre machinery, have recently bought the entire equipment released by Goodyear Wolverhampton as a result of closure of about 50 per cent of their plant. The equipment is now being dismantled and removed; part of it directly to customers and part to Pelmar’s warehouse in Manchester. It includes mainly rubber compounding and processing equipment, such as complete extruder lines, calendering lines, mixing lines and miscellaneous other machinery. Pelmar has seven warehouses in Europe, Israel and U.K., providing machinery, engineering and complete turnkey projects related to the technical rubber and tyre industries worldwide.
Further Appointments At Cooper
Product NewsCooper Tire & Rubber’s strategic realignment has resulted in two Vice Presidential sales and marketing appointments. Carl A. Casalbore has been made Vice President, Marketing and Retail Sales for the North American Tire Division. He joined Cooper in 1999 as a director of sales, after 20 years’ service with a competitor and his most recent post was that of VP, retail sales and high performance tyre development. The second appointment is that of Phillip D. Caris, as Vice President Sales & Marketing for the North American Tire Division. His 21-year Cooper career includes several sales and marketing roles, latterly as VP, marketing. Both appointments are effective from 1st May.
Cooper Promotes Three
Product NewsThe Cooper Tire & Rubber Co. has named three key senior appointments, effective 1st May, as a result of a realignment within the Tire Group to better focus on target markets. Harold C. Miller has been named President, International Tire Division – he joined Cooper in March 2002 as vice president, corporate planing and control. D. Richard Stephens becomes President, North American Tire Division. His Cooper career spans 26 years and has been president of Cooper Tire since December 2001. Patricia J. Brown takes up the newly-created post of Vice President, Global Branding and Communications, after a Cooper career of nearly 36 years, latterly as vice president, advertising and communications.
Record Sales For Cooper In 1Q
Product NewsCooper Tire & Rubber’s first quarter results show sales at an all-time record high of $974 million; a Year-on-Year increase of 23 per cent. Net income increased by 56 per cent to $24 million (1Q 2003: $15 m). Tire Group operations showed a record turnover of $485 million, 23 per cent up on the 1Q 2003 figure of $396 million, and a 12 per cent increase in volumes and an improved mix. Sales of high performance tyres rose by 47 per cent, those of P-metric tyres were up 52 per cent and truck tyre sales were up 27 per cent. Despite this, operating profit was down slightly at just under $16 million. Raw material costs reduced operating profit by $18 million while product liability and litigation costs were $9 million higher than 1Q 2003.
Conti to sell Agricultural division
Product NewsGerman tyre manufacturer Continental is considering selling its agricultural tyres division to the Czech Rubber Group. Negotiations on a similar deal with Trelleborg Wheel Systems fell through last year. A spokesman for Continental stated that while no details were available on any possible deal with the Czech Rubber Group, he was confident they would be successful.
Dana Corporation elects Samir Gibara to board
Product NewsSamir G. Gibara, former chairman of Goodyear Tire & Rubber Company has been elected to the Dana Corporation Board of Directors. In addition to his Dana Corporation appointment, Gibara serves on the board of directors of Sumitomo Rubber Industries and International Paper.
Cooper’s 1Q Results “Will Be Higher Than Expected”
Product NewsCooper Tire & Rubber has said that its earnings per share for the first quarter of 2004 will be around 30-34 cents per share; significantly higher than the forecast of 24-28 cents per share. The reasons are higher sales, a strong performance of Cooper-Standard Automotive and a smaller than expected impact of raw material prices. Cooper’s full 1Q results will be released on April 22nd.
Goodyear To Close Nebraska Warehouse
Product NewsGoodyear Tire & Rubber Co. will close a warehouse and distribution centre in Lincoln, Nebraska by the end of the year, eliminating about 160 jobs. Goodyear spokesman Skip Scherer said the closure was to improve customer service and has nothing to do with the recent announcement that Goodyear will reduce its reported profit for the past six years by an additional $65 million because of improper accounting.
