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Kumho Increases Prices

Kumho 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.

30th July 2004/by Tyrepress Editors

TIA Support Restructure of Truck Tyre Tax

The Tyre Industry Association (TIA) has announced that it will support moves to restructure how the Federal Excise Tax (FET) is calculated on truck tyres.

26th July 2004/by Tyrepress Editors

Goodyear to Invest $50 Million in Colombian Plant

Goodyear 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.

12th July 2004/by Tyrepress Editors

Continental Suspends Mayfield Production and Cuts 800 Jobs

Continental 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.

30th June 2004/by Tyrepress Editors

Toyo Chooses Bartow County

Following 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.

14th June 2004/by Tyrepress Editors

Bridgestone Europe establishes new company: ”Bridgestone Retread Systems”

Bridgestone 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.

4th June 2004/by Tyrepress Editors

Nokian 1Q Sales Increase

Nokian 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.

5th May 2004/by Tyrepress Editors

Michelin 1Q results – Volumes rise as European and US markets grow

Michelin’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.

28th April 2004/by Tyrepress Editors

Pirelli Prices To Rise In North America

Pirelli 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.

28th April 2004/by Tyrepress Editors

Continental To Invest In Brazil, Malaysia

Continental AG plans to invest more than 250 million euro in building a new tyre production facility in Camacari (Bahia/Brazil) and expanding capacity in Malaysia with joint venture partner Sime Darby (car tyres in Alor Setar, truck tyres in Kuala Lumpur).

16th March 2004/by Tyrepress Editors

Pilot Travel Centers go Michelin and Goodyear

Michelin Americas Truck Tires and Goodyear Tire & Rubber Company have announced agreements with Pilot Travel Centers LLC, the largest truck stop network in North America, to begin supply Michelin, BFGoodrich and Goodyear truck tyres at its travel centres. Pilot Travel Centers is a leading interstate retailer, operating 264 travel centres coast-to-coast. The company operates its travel centres in 38 states. Goodyear will supply a variety of truck tyres for Pilot’s store network, including the G395 LHS steer tyre. The new Pilot Truck Care Centers will also feature a full line of Michelin and BFGoodrich tyres including the Michelin X One wide single tyre line.

12th March 2004/by Tyrepress Editors

More Outsourcing For Cooper

Back in October, Cooper Tire & Rubber announced that Chinese manufacturer Hangzhou Zhongce would produce 300,000 radial medium truck tyres for the US company. Now Cooper has revealed that Hangzhou Zhongce is also to make one million passenger radials for the US market; these will be in six sizes under the brand names Cooper, Mastercraft, Dean and Starfire. Dick Stephens, president of Cooper’s Tire Group, said that the outsourcing will help Cooper meet growing demand, especially for the Zeon high performance lines. “By outsourcing some of our broadline products, we can devote more production capacity to the more exotic performance tyres,” commented Stephens, adding: “We have increased capacity at all of our US plants and these tyres from Hangzhou will help fill the gap between our capacity and projected demand.” The tyres will be manufactured to Cooper’s specifications and engineers are currently in China conducting audits to ensure the highest quality standards.

25th February 2004/by Tyrepress Editors

Toyo Announces Tire Production in the United States

Toyo Tire & Rubber Co Ltd has announced its decision to build a new manufacturing plant in the United States for the production of passenger car and light truck tyres.

20th February 2004/by Tyrepress Editors

Michelin to import truck tyres to India

The Indian Government is to permit Michelin to import bus and truck radial tyres for wholesale trading on cash and carry basis until its joint venture with Apollo Tyres becomes operational. Michelin Apollo, 51 per cent owned by the French firm and 49 per cent by Apollo Tyres, will take about 20 months to begin production.

20th February 2004/by Tyrepress Editors

China drives Asian tyre market

Demand for car tyres in China has grown by about one million units a year for the past four years, fuelled by growing vehicle production, which last year exceeded four million units. Demand for light truck tyres is even higher, at an estimated 25 million annually.

19th February 2004/by Tyrepress Editors