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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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Cooper Net Income Rises In Fourth Quarter

Cooper Tire & Rubber has reported a 50 per cent rise in net income in the 4th quarter of 2002, compared to the same period in the previous year. Net income was $23 million on a turnover of $842 million (4Q 2001: $16 m/$777 m). For the year, the Tire Group posted a turnover of $1.8 billion ($1.7 bn) with unit sales up 5 per cent and the operating profit rose 88 per cent to $137 million, although the 2001 figure was affected by class action settlement charges totalling $72 million. Excluding these charges, operating profit for the year declined by $8 million or 5 per cent. Sales for the Automotive Division last year rose 7 per cent to $1.6 billion. Thomas A. Dattilo, Cooper chairman, president and CEO, said that the group had achieved its targets for the year and the outlook for 2003 was “challenging”.

7th February 2003/by Tyrepress Editors

No Quarterly Dividend From Goodyear

The Board of Goodyear Tire & Rubber has agreed to eliminate the company’s quarterly dividend. President and CEO Robert Keegan described the decision as “an important step in a series of actions the company is taking to improve its financial flexibility.”

5th February 2003/by Tyrepress Editors

Weaker 2003 For Bridgestone Australia

Raw material price uncertainty is likely to pull down Bridgestone Australia’s profits for 2003. This follows significant rises in the prices of natural and synthetic rubber. The company reported a profit of 12.6 million Australian Dollars for 2002, a 41.2 per cent rise on the previous year. Total revenue rose from 513 million dollars to 517 million dollars. The improvements in profitability came from non-tyre related business and reduced borrowing costs. A company spokesman said that the tyre business in Australia remained marginal and directors are concerned that significant improvements in productivity and reduction in manufacturing costs will be required to sustain this business into the future.

3rd February 2003/by Tyrepress Editors

Confirmation Of Job Losses At Goodyear

The Goodyear Tire & Rubber Company has announced restructuring actions in its corporate headquarters and North American Tire operations that will eliminate more than 700 salaried staff positions. The action is being taken to improve the company’s fixed cost structure.

17th January 2003/by Tyrepress Editors

U.K. Firm Buys Canadian Microwave Plant

Environmental Waste International Inc. has made its first sale of its reverse polymerisation tyre processing plant. It has sold its first plant to an un-named firm in the United Kingdom for an operation to be located there. The company has received a deposit of more than 1 million dollars against the purchase price of 10 million dollars. The plant should be commissioned within 18 months.Environmental Waste International’s system uses microwave energy to separate scrap tyres into carbon black, oil, steel and hydrocarbon gases. The plant can process 3,000 tyres per day. It reduces each 9kg tyre to about 3.5kg of carbon black and 1kg of steel. The plant can use the oil and hydrocarbon gases released to produce enough electricity to run the system. Excess electricity can be sold to the power grid.

16th January 2003/by Tyrepress Editors

More To Go At Goodyear?

Reports from Akron point to a further 1,000 positions being slashed at Goodyear Tire and Rubber. The news was disseminated to all staff by an internal company memo from new CEO Robert Keegan. Of the 1000 job cuts some 400 are expected top take place across salaried posts at Akron. There is also speculation that there may be shift layoffs and plant closures.

15th January 2003/by Tyrepress Editors

Waste Tyres A Global Problem

Sarawak’s Natural Resources and Environment Board claims that there is no market for the recycled products from the scrap tyres and that retreading was not economically viable. Crumb rubber which can be used for many purposes has a market value of only 75 per cent of its production cost. Sarawak, has no system developed or legislation formulated to promote and regulate scrap tyre disposal and recycling issues. Malaysia produces about 14 million pieces of used tyres per year and the number is increasing at a rate of 10 to 15 percent.

14th January 2003/by Tyrepress Editors

Smithers Scientific Reorganises

Smithers Scientific Services Inc. has reorganised as a result of its acquisition last March of a company specialising in environmental toxicology and analytical studies. The reorganisation brings three independent companies under the umbrella of the Smithers Group with worldwide headquarters in Akron, Ohio.

14th January 2003/by Tyrepress Editors

Compound Interest

Tread rubber and compounds are continually changing, in order to meet changing needs. The motorcyclist wants superb grip, the truck haulier wants long mileage and the ordinary motorist wants both. Developments such as silica compounds and precure treads that are axle-specific help to achieve these objectives. What’s next on the horizon – using reclaimed rubber perhaps?

9th January 2003/by Tyrepress Editors

Shanghai Tyre & Rubber Company Limited: Double Coin

Along with the dawn of the 21st century, Shanghai has very quickly become the international economic trading capital of China. The city is the showcase of reform, increasingly attracting foreign investment in new business enterprises. Just outside the city centre is the industrial district of Min Hang and this is home to China’s largest tyre producer, Shanghai Tyre & Rubber Company Limited.The Shanghai Tyre & Rubber Company was incorporated on 4th July 1992. It was restructured from the two oldest tyre manufacturing plants in China, both having a history stretching back over seventy years, the Ta Chung Hua Rubber factory and the Tsen Tai Rubber factory. In the early 1930s these two tyre producers first established the brand names Double Coin and Warrior. In September 1998 a joint venture was agreed with First Tractor Group of China to produce agricultural tyres, expanding the existing capacity by nearly 50 per cent to 900,000 tyres and consolidating its access to the agricultural market. In the same year the company completed a $95 million US dollar expansion programme at the Min Hang factories. Weak domestic demand and the Asian crisis did see a downturn in profits as the decade came to an end, at the same time, selling prices were cut by ten per cent in order to compete with some foreign, and particularly South Korean, tyres. This was a setback, but no more than that. The company has shown itself to be extremely perceptive and very determined.Within the Shanghai Tyre Company today there are three principal tyre producing factories. An all steel radial truck tyre plant manufacturing the Double Coin brand, and a passenger and light truck tyre radial factory producing the Warrior brand; this plant has been a joint venture with Michelin since March 2001. Finally, a bias-ply plant manufacturing passenger, truck, a massive range of agricultural, off-road, industrial and motorcycle tyres in a total of over 350 specifications. The company is the 15th biggest tyre producer in the world, employing over 11,000 people.

9th January 2003/by Tyrepress Editors

2002 US Tyre Shipments Rise

In the USA, the Rubber Manufacturers Association is predicting that 2002 tyre shipments for new vehicle owners will rise by 7.3 per cent to 58.5 million units. This rise is fuelled by the heavy incentives and zero-finance offers from car manufacturers. The RMA also forecasts that car tyre OE shipments next year will stay flat and are expected to rise again in 2004 as the economy improves. An improved economy will also mean an increase in truck and trailer tyre shipments, says the RMA.

30th December 2002/by Tyrepress Editors

Cooper Third Quarter Sales And Profits Up

Cooper Tire & Rubber has reported its third quarter figures. Net sales were up 6 per cent to $839 million (3Q 2001: $791 m). Operating profit was $55 million and net income was $23 million, 28 per cent up on the 3Q 2001 figure of $18 million. Comparing the first nine months with the same period last year, net income rose 87 percent, from $47 m to $88 m, while operating profit was $195 m, compared to $137 m. Cooper’s tyre sales in North America declined by one per cent during 3Q, but this compared to an industry decline of nearly 8 per cent. Operating profit for the tyre group in 3Q was $27 m. This compares to a loss in 3Q 2001 of $9 m, but this figure was affected by charges related to a proposed class action litigation settlement.

30th December 2002/by Tyrepress Editors

Lampe Named “Rubber Industry Executive Of The Year”

Rubber & Plastics News, a sister magazine of Tire Business, has named Bridgestone/Firestone Chairman and CEO John Lampe (53) as the “Rubber Industry Executive of the Year”. The award is in recognition of Lampe’s leadership in the company’s rebound from the Firestone tyre recall, which was at its height when Lampe assumed the top job. He was reluctant to accept the award at first, fearing that it would overshadow the part played by employees, dealers and customers. The company’s recovery is such that it expects to report a net income of $70 million for 2002, compared to a net loss of $1.67 billion in 2001.

18th December 2002/by Tyrepress Editors

Tyre Dumps Hit During Fire Dispute

Hundreds of homeowners were warned to remain indoors and keep their doors and windows shut after clouds of black smoke from a blaze at a scrap tyre depot in Levenshulme, Manchester swept across the area.Thirty military personnel and five Green Goddess tenders were sent to tackle the blaze at the tyre depot in, Levenshulme, late last night, and they were still dealing with the incident more than twelve hours later.Loudspeaker warnings for people in Levenshulme and Gorton to remain inside and keep doors and windows closed, to keep out fumes from the burning rubber, were relayed by the Greater Manchester Police helicopter. And motorists were being urged to avoid the area completely. A further four Green Goddesses were despatched to another blaze in nearby Stockport to tackle a tyre dump fire.

25th November 2002/by Tyrepress Editors

Israeli Company Develops Devulcanisation Technology

Levgum, of Israel, has developed a new rubber devulcanisation technology, allowing the rubber to be re-used. Exclusive rights to the western hemisphere have been purchased by Oklahoma-based Softstone Inc.; a company involved in rubber recycling. Softstone invested in the Levgum process after extensive testing by Akron Rubber Development Laboratory Inc. and holds 10 per cent of the company’s shares. Softstone has the right to sub-license the technology and is negotiating with “several major rubber product manufacturers”. Levgum has signed licensing agreements with two companies in India and talks are under way with companies in Australia, Brazil and the UK.

18th November 2002/by Tyrepress Editors