Turkey Archives - Page 12 of 16 - Tyrepress

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Brisa Employees Occupy Factory Following Job Cut Announcement

Turkey’s Dogan News Agency has reported on around 1,000 Brisa employees barricading themselves inside the company’s tyre manufacturing facility in Izmit. The factory occupation and an associated halt in production is said to have taken place to protest the unexpected announcement of more than 30 job cuts.

Brisa announced on December 18 that it had terminated contracts of 32 workers at the plant due to falling sales figures and lower product demand. Executives of the employees’ union are said to have joined the protest.

19th December 2008/by Tyrepress Editors

Goodyear Turkey Halting Production for 10 Days, Says Union Leader

Production at two factories operated by Goodyear in Turkey will be halted for ten days in December and January, says the president of the country’s petroleum, chemical and tyre union. The factories in Adapazari and Kocaeli will be closed between December 12 and 17 and then from January 2 – 7 due to reduced demand. Union president Abdullah Karacan added that production at the factories had decreased between 30 per cent and 60 per cent.

12th December 2008/by Tyrepress Editors

Comings and Goings

On May 24, 2008 tyre industry steel cord producer Bekaert and China’s Anshan Iron and Steel Group Corporation (Ansteel), one of the world’s leading steel producers, signed a memorandum of understanding outlining the terms of a close future partnership between the two companies. As part of the arrangement both firms agreed to explore strategic cooperation projects in order to better address the growing demand for advanced wire products on the Chinese market.

27th November 2008/by Tyrepress Editors

Goodyear Turkey Halts Production for 8 Days

Goodyear Lastikleri, the Turkish unit of Goodyear Tire & Rubber, is temporarily stopping production at its Adapazarý and Ýzmit factories in the country’s northwest. The company closed these facilities on October 3, and they will remain for eight days, Goodyear Lastikleri said in a filing with the Istanbul Stock Exchange on September 26. A slump in domestic and export orders was the reason given for this decision.

7th October 2008/by Tyrepress Editors

Dunlop Aircraft Tyres to Supply Fast Growing Turkish Carrier

The decision by Pegasus, Turkey’s fastest growing airline, to double its fleet with the purchase of 24 new Boeing 737-800 aircraft has been well received at Dunlop Aircraft Tyres. The Birmingham based operation has been selected to supply tyres for the new airliners.

“The news that Pegasus Airlines is doubling the size of its Boeing 737-800 fleet is positive for the company and our workforce in Birmingham,” said Dunlop Aircraft Tyres’ chairman, Ian Edmondson. “Tyres made at our site in Erdington are among those fitted to the fleet by a company in Turkey that carries out maintenance, repair and overhaul to the aircraft.”

26th September 2008/by Tyrepress Editors

Bangladesh to Double Rubber Output by 2020

Industry professionals in Bangladesh say that the country has targeted a doubling of rubber production over the next decade, in order to meet potential export figures. The current capacity stands at 30,000 tonnes, though at present the estimate for 2008 stands at 16,000 tonnes from the 1,300 nationwide rubber gardens.

Local news sources report that the country’s commerce adviser, Dr Hossain Zillur Rahman said on Monday that Bangladesh had started to trade rubber with Turkey, which is trying to get certificate for Bangladesh’s rubber from Bridgestone. “Bridgestone’s certification may take the Bangladeshi rubber industry to a new height,” claimed Hossain Zillur.

12th September 2008/by Tyrepress Editors

Hayes Lemmerz Increases Adjusted EBITDA Guidance for 2008

On September 4 Hayes Lemmerz International announced it is increasing its fiscal 2008 Adjusted EBITDA guidance as it reported substantially improved Adjusted EBITDA, core operating earnings and liquidity for the second fiscal quarter ended July 31, 2008.

“We are increasing the Company’s Adjusted EBITDA guidance for fiscal 2008 to $225 million to $240 million, up $20 million from prior guidance of $205 million to $220 million,” said Curtis J. Clawson, president, CEO and chairman of the Board. “Capital expenditures have been reduced for the year and are now expected to be between $90 million to $100 million, down $5 million from prior guidance of $95 million to $105 million. We are also affirming the Company’s sales guidance of $2.1 billion to $2.3 billion for fiscal 2008.”

5th September 2008/by Tyrepress Editors

Pneu-Logic and EDP Plan Major Growth For End of 2008

Pneu-Logic, the UK-based subsidiary of leading RFID developer Advanced ID Corporation has completed a “major growth plan” in cooperation with the company’s French strategic marketing partner EDP. This agreement, based on EDP’s rapidly growing customer base, more than doubles the company’s original 2008 forecast and is expected to exceed US$500,000 in product sales for Advanced ID. With expanding sales in France, Spain, Turkey and Israel, and a large order from China, EDP is set for massive expansion with its Tyre Parc Fleet Management software. With EDP selling Advanced ID probes, RFID tags and patches and the new OTR probe in 2009, the company expects sales to reach US$750,000 next year.

“We are very pleased with our sales performance, particularly in new markets such as China, Israel and Turkey,” said EDP Managing Director Jean Luc Guisti. Mr. Guisti continued: “Our Tyre Parc software with the Pneu-Logic system has been widely accepted as the industry leading solution for companies who understand the importance of good tyre management to reduce fleet operating costs.”

4th September 2008/by Tyrepress Editors

Brisa Bridgestone Looks to Egypt to Reduce Labour Costs

Bridgestone affiliate company Brisa Bridgestone Sabanci Lastik Sanayi & Ticaret A.S., which manufactures tyres in Turkey, may construct a new plant in Egypt to avoid high Turkish labour costs. The average worker at a tyre facility in Turkey costs the company about US$50,000 to employ, therefore competing with rivals in regions such as Eastern Europe is difficult.

“Egypt is one of the alternatives we’ve been looking and working on it all the time,” commented Guler Sabanci, chairwoman of Haci Omer Sabanci Holding A.S., joint venture partner with Bridgestone in the Brisa operation. According to Ms Sabanci’s office, an Egyptian worker is at least $5,000 cheaper per annum to employ.

2nd September 2008/by Tyrepress Editors

World Bank's Corporation Offers Petlas US$250 million Loan

International News

International Finance Corporation (IFC), a member of the World Bank Group, has reportedly offered loan support of up to US$250 million dollars to Turkish tyre manufacturer Petlas. According to the Anatolia news agency, the first step is an 80-million-dollar loan for Petlas, apparently the only tyre plant manufacturing military tyres in Turkey. Semra Guler, finance director of Abdulkadir Ozcan Otomotiv A.S, told the news agency the financing would help Petlas upgrade technology, expand product range and manufacture eco-friendly tyres.

2nd September 2008/by Tyrepress Editors

Antitrust Authorities Give Green Light to Conti Oltas Acquisition

After the approval of the Turkish antitrust authorities in late August Continental AG has acquired 89.66 per cent of the shares in Oltas SPA headquartered in Istanbul, Turkey. Oltas is Continental’s exclusive tyre distributor for the Continental, Uniroyal and Barum passenger car and commercial vehicle tyre brands in Turkey.

“We are glad about this quick approval process. Now we will improve our market position for commercial vehicle and passenger car tyres in Turkey and in Eastern Europe overall significantly step by step,” said Dr. Alan Hippe, Executive Board member responsible for the Passenger Car Tire division.

1st September 2008/by Tyrepress Editors

Pirelli Acquires Minority Shareholding in Turkish Tyre Units

Pirelli & C SpA reports its tyre division has purchased the minority shareholdings in the two tyre companies it controls in Turkey for 43 million euros. These purchases were made, Pirelli adds, in order to strengthen the group’s position in what it regards as a strategic country.

Pirelli Tyre acquired 25.75 per cent of Pirelli Turk Lastikleri and 48.0 per cent of Celikord from Isbank. A further 1 per cent stake in Celikord was also purchased from other shareholders. According to Pirelli, it now owns 95.35 per cent of Pirelli Turk Lastikleri and 100 per cent of Celikord.

22nd August 2008/by Tyrepress Editors

Conti to Acquire 89.66% Stake in its Turkish Tyre Distributor

Continental AG reports it has agreed to acquire 89.66 per cent of Turkey based tyre distributor Oltas Spa. The purchase value of this shareholding, previously held by Turkish Fortune Global 500 corporation Koç Holding and other Koç Group shareholders, has not been disclosed. Approval of the deal by Turkish anti-trust authorities is pending and further approvals from the European authorities are not required in the case of this majority holding.

Oltas exclusively distributes Continental, Uniroyal and Barum branded passenger car and commercial vehicle tyres in Turkey, and has built up a franchise dealer network of 200 outlets. According to Conti, Oltas achieved sales of 39 million in 2007.

22nd July 2008/by Tyrepress Editors

Second Istanbul Eurasia Lastik & Jant Show Announced

The second annual Eurasia Lastik & Jant Show has been announced for 23 – 26 April 2009 at the CNR Expo Centre, Istanbul, and is open for exhibitor applications.

The tyre, rim, battery and service equipment fair provides an excellent platform for manufacturers and distributors wishing to showcase products in one of the world’s fastest-growing automotive industries, while the exhibition promises to provide the opportunity for the development of new markets for visitors and exhibitors alike. With 64,000 visitors from 14 countries, 170 brands and 120 exhibitors present, the show looks to be a must for all with an eye on the Eurasian market.

14th July 2008/by Tyrepress Editors

Vipal Opens New Warehouse in Hamburg

Less than three weeks before the Essen show, Brazilian retreading material supplier, Borrachas Vipal demonstrated just how much the company developed its export business. The news was that the company that had long been market leader in Brazil had chosen Mexico as the site for its first non-domestic production plant. At the time Vipal’s International Business Director, Maria Locatelli, explained that Mexico was chosen because it is an “entrance door” to the US. However, during an interview with Tyres & Accessories at the recent Reifen exhibition, Maria Locatelli explained that increased production in Mexico would also benefit European customers, both economically and due to shorter delivery times.

The main strategy behind the investment is to make use of Mexico’s North American Free Trade Agreement (NAFTA) ties. However, the company also intends to capitalise on the production cost benefits available in the petrochemical producing country, with a view to passing a saving onto consumers in export markets like Europe. “This is not the main target, but there will be possibilities to supply [Europe],” said Maria Locatelli.

27th June 2008/by Tyrepress Editors