Kumho To Build Second Chinese Plant
Far eastern news agency, Asia Pulse, has reported that Kumho Tire Co has signed a preliminary deal to build its second Chinese factory.
Truck Tyres
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Volvo Trucks opt for Conti Eco Tyres
Product NewsContinental Tire North America has announced that its Eco Plus truck tyres are now a published option at all Volvo Truck dealerships nationwide.
“Rising fuel prices have increased the importance of finding ways to lower operating costs and improve the bottom line,” said David Misbrener, CTNA account manager for Volvo Trucks North America. “Continental’s Eco Plus tyre technology provides impressively low rolling resistance for excellent fuel economy and long original mileage. We are very pleased that this premium line of tyres is now also available at Volvo dealerships for fleets trying to find a way to lower their operating costs.”
According to the company tests conducted at its Uvalde proving grounds (SAE fuel consumption test J1264) show that, with Continental HSL Eco Plus tyres in the steer position and the HDL Eco Plus tyres on the drive axle, fuel mileage is increased by up to 7.2 per cent over conventional tyres
Michelin Reach Agreement with USWA
Product NewsThe labour dispute between the United Steel Workers of America (USWA) and Michelin appears to have come to an end as the two sides have reached a tentative agreement.
Michelin and USWA Remain at the Table
Product NewsAlthough Michelin North America Inc. and the United Steelworkers of America have been under self-imposed deadline pressure to come to terms with the negotiations on a new contract agreement, both parties remained at the table when the fixed date for a conclusion passed by.
How has the Truck Tyre Market Changed?
Product NewsThere is a new question of the month on the Tyres & Accessories web site. This time it refers to the changing world of the truck tyre market.
As dealing with truck tyres becomes more and more professional, and as retail businesses are forced to adapt to the market, T&A asks for the opinions of those at the centre of the action.
To read the question of the month and to add your own views, click here
Michelin Implement Plans in Nova Scotia
Product NewsMichelin is to invest $31 million (£17 million) in plans to upgrade and expand production at its Bridgewater and Waterville tyre plants situated in Nova Scotia, according to the Nova Scotia Economic Development Ministry, which is providing $3 million to help secure the project.
Kumho Increases Prices
Product NewsKumho Tire USA Inc is to increase prices on all of its tyres, effective of the 1 October.
Prices of the company’s passenger, light truck and commercial truck tyres will increase anywhere from three per cent to five per cent, depending on the model.
David Hudrlik, vice president and director of sales, referred to escalating raw material prices and rising shipping costs as the reasons for the increase. The company gave the same reasons for increasing its tyre prices in May.
TIA Support Restructure of Truck Tyre Tax
Product NewsThe Tyre Industry Association (TIA) has announced that it will support moves to restructure how the Federal Excise Tax (FET) is calculated on truck tyres.
Goodyear to Invest $50 Million in Colombian Plant
Product NewsGoodyear Tire & Rubber Company has announced that it will invest $50 million (£27 million) in plans to expand its facility in Cali, Colombia. The plans will see the plant produce radial medium truck tyres in addition to its existing output. This signifies Goodyear’s commitment to the growth of Colombian exports in certain Latin American countries, according to Eduardo Fortunato, president of Goodyear’s Latin America region.
Continental Suspends Mayfield Production and Cuts 800 Jobs
Product NewsContinental Tire North America has announced that it will indefinitely suspend tyre production at its Mayfield, Kentucky plant by 31 December 2004. The move will mean that 715 hourly and 112 salaried employees will lose their jobs. Continental hopes that working with the appropriate agencies will ease the transition for affected employees. The Mayfield plant is still valuable to Continental and the company has not plans to close it completely. In the meantime Continental will make use of the plant’s mixing and warehouse facilities.
Toyo Chooses Bartow County
Product NewsFollowing what the company have called “robust overseas demand” Toyo has announced that its new tyre plant will be situated in Bartow County, Georgia in the USA. The site, situated outside the state capital, Atlanta, was chosen above other prospective locations mainly based in the south-eastern United States.
The new facility will use the company’s automated tyre manufacturing system, which enables it, according to Toyo, “to maintain a high standard of quality while realising the flexibility to produce small production runs of multiple lines if tyres.” A new subsidiary company, Toyo Tire North America Inc., will own and operate the manufacturing facility.
The tyre producers plan to spend a total of nearly $400 million on the plant. In the first phase the company will spend $146 million on the plant and hope to begin production in 2006. Initially 350 employees will run the plant. In the second phase the company will invest $127 million and will create 300 more jobs. The third phase will include a further $119 million of investment and will see the work force expand to around 900. When finished, the site will have a total floor area of 96,000 square metres. Toyo estimates that the factory will produce two million passenger and light truck tyres a year. The site in Bartow County will also include a 40,000 square metre warehouse that will service the south-eastern states.
Bridgestone Europe establishes new company: ”Bridgestone Retread Systems”
Product NewsBridgestone Europe NV/SA announced today, that it has formed a new subsidiary company, Bridgestone Retread Systems NV/SA, in a joint venture with Italian retread specialist Marangoni Tread S.p.A as minority partner. The new company, headed by Managing Director Ing. Marcello Gambarini, will have its dedicated headquarters in Brussels, Belgium.
Nokian 1Q Sales Increase
Product NewsNokian Tyres has released its 1Q figures, which show a 17.8 per cent increase in sales over 1Q 03, from 95.7 million Euros to 112.7 million Euros. Group operating profit was up to 10.7 million Euros (3.2 million). Profit before taxes was 9.6 million Euros (1.6 million) and net profit totalled 6.5 million Euros (0.7 million). Sales of passenger car, heavy tyres and retreading materials rose, but bicycle tyre sales fell.
Pirelli Prices To Rise In North America
Product NewsPirelli Tire North America is to increase prices of passenger car and light truck tyres from 1st June. All Pirelli branded tyres will be affected by the increase, which will vary by product offering but will average three per cent. PTNA President and CEO Guy Mannino blamed raw material costs for the increase, but added that they were lower than in other parts of the world because of manufacturing efficiencies made by PTNA.
Michelin 1Q results – Volumes rise as European and US markets grow
Product NewsMichelin’s first quarter results show that the group’s net sales totalled 3.799 billion Euro; up 3.9 per cent on the 1Q 2003 figure of 3.654 billion Euro. If currency fluctuations are factored out, the increase would be nearer 9.5 per cent. In tonnage terms, volumes rose 7.6 per cent over 1Q 2003. Net Sales by Product 1Q 04 were as follows millions of Euros: Car/light truck: 1,842.3. Truck: 995.5. Other businesses: 1,187.6. Inter-sector eliminations: – 226.4. Total: 3,799.0.
