Bridgestone has appointed Steve Howat as technical training manager in a bid to strengthen its training department for First Stop and Truck Point dealerships. Andy Dingley, senior marketing analyst for Bridgestone UK, said: “It’s great that Steve has joined us. His knowledge, experience, and enthusiasm will be of great benefit to both Bridgestone and the members of the First Stop and Truck Point schemes.”
Toyota will increase capacity at its UK plant in Burnaston to 285,000 vehicles by 2005 (220,000 at present). The addition investment will total 50 million pounds. The Japanese car maker has begun a program of increasing capacity in Europe to 645,000 vehicles from 500,000 previously.
SmarTire Systems Inc. (OTCBB: SMTR) announced that the Company has signed a $15 Million Standby Equity Distribution Agreement with Cornell Capital Partners LP. This financial instrument replaces the $15 Equity Line of Credit arranged by HPC Capital Management in 2003. SmarTire also announces that it has arranged a second $750,000 unsecured, promissory note with Cornell Capital.
The Green Tyre Dealer Scheme launched recently by the Retread Manufacturers’ Association to promote the safety, performance and environmental benefits of retreaded tyres has been endorsed by the Chairman of the National Tyre Distributors Association. Martin Rowlands, Director of the Kinross-based retailer Tyrefair Ltd, was one of the first dealers to join the Green Tyre Dealer Scheme. He is also the current Chairman of the National Tyre Distributors Association, the national body representing independent tyre dealers within the UK. Rowlands said: “I wholeheartedly support the active promotion of retreaded tyres and applaud the RMA for their initiative in developing the Green Tyre Dealer Scheme. Retreads are environmentally friendly, their appearance is good, they have the same speed rating as new tyres and they are excellent value for money”.
Start saving up now: Porsche has announced that its new 911 series Carrera and Carrera S sports cars will be launched in mainland Europe on July 17 and in the UK and US markets in early September. Pretax prices in Germany will be 64,700 Euro and 73,300 Euro respectively.
A new trading name has entered the UK tyre market with the launch of Tym International, formerly known as Motokov UK Limited. Following a management buyout of Motokov’s tyre operation, Tym International tyre division will continue to import brands into the UK from the existing headquarters in Kings Lynn, Norfolk.
Cooper-Avon Tyres Ltd has achieved record sales results in the first quarter of 2004. Four years ago the company implemented a new strategy to help safeguard its future. As part of this, the company has seen substantial investment in new processes and products in recent years and is growing at a rate of some 10 – 12% per annum. It is anticipated that this trend is set to continue in the foreseeable future.
In 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.
For a number of years there has been little in the way of flotations on the German Stock Exchange, but suddenly there has been a flurry of activity. German Post wants to float its subsidiary Postbank on June 21, but the fast-fit service chain A.T.U (Auto-Teile-Unger) wants to forestall the Post and get in with its own flotation beforehand, at the beginning of June. The flotation is being handled by Credit Suisse First Boston and HSBC, who expect to raise one billion Euros. UK investment company Doughty Hanson is the majority shareholder and it is not yet known whether it will sell its entire holding or retain a stake in A.T.U.
On 9th June, the Primetime Engineering team will make an attempt on the 245 mph World Electric Land Speed record in their „ABBe=motion“ car on the Chott-el-Jerid salt flats in southern Tunisia. According to a computer simulation, the car should be capable of 304 mph and it has already achieved 146 mph in 1,000 yards (the longest distance available to the team in the UK). „ABB e=motion“ is powered by 58 Exide Technologies/CMP Orbital Series 800 batteries, delivering more than 600 volts and 2300 amps. The car runs on 25“ tall Goodyear Landspeed tyres and the final drive to these is via a bespoke belt and pulley system.
Goodyear in the UK is looking for a truck or bus driver who has performed an heroic or outstanding deed in the course of his or her duties. The Goodyear Big Hero award is based on the long-running US Highway Hero award, which has been running successfully in the USA for decades, and will be launched at the Truckfest trucking festival in early May, when leaflets will be handed out to the thousands of truck drivers and members of the public who attend the event. Richard Lyons, sales director Goodyear Dunlop Tyres UK, said that the award is to improve the image of truckers, who are often portrayed as the “bad guys” of the road.
Goodyear Dunlop has been chosen as tyre supplier to UK police forces for the next three years. Goodyear first secured the contract in 1994 and the new deal means that around 100,000 Goodyear and Dunlop tyres will be fitted to police cars, vans and motorbikes for each of the next three years.
Nottinghamshire-based Charles Lawrence International processes around 18,000 tonnes of commercial vehicle tyres a year at its £1.5 million granulating plant and has developed machinery to improve the recovery of steel from tyres. Over 72,000 tonnes of tyres recycled each year in the UK, creating 21,000 tonnes of a valuable high-grade steel fibre with a low copper content. But because the steel is contaminated by residual rubber from the granulating process, it is rejected by steel processing plants and has to be landfilled. Charles Lawrence International’s new process claims to recover cleaner steel which can be recycled by steel processors.
SmarTire Systems Inc. has announced it has signed an agreement with Motohaus Powersports Ltd. to distribute SmarTire’s second generation tyre monitoring product for motorcycles in the UK. Motohaus Powersports is a well-established distributor of motorcycle accessories and has a strong base of dealers throughout the UK. “With safety high on the agenda for UK riders and with tyre pressures so critical to the handling of modern high-performance motorcycles, we are excited to be offering SmarTire’s tyre monitoring system to the UK market,” says Owain Evans, Managing Director at Motohaus.
Hankook Tire has introduced a new corporate identity as part of efforts to engineer a new growth surge. The new logo aims to reflect progressive and innovative thinking, specialised technology, passion, sophistication, dynamism, and internationalism. It also visualizes brand individuality. The symbol stands for speed and flight and is combined with a mixed-script logotype. The new logo was designed by UK designer Neville Brody.
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