Across the Atlantic they are called tires, while over here we use a “Y” and say tyres. This tag provides the latest tyre business news emanating from the United States of America (USA), whichever way you spell it.
Following a two year recession-related delay, plans for German specialty chemicals group Lanxess to transfer its corporate headquarters from Leverkusen to the nearby city of Cologne are back on track. More than 1,000 Lanxess employees will make the 15 kilometre move to a newly renovated 22-storey building in the second half of 2013; the new headquarters’ opening will bring almost all the company’s management functions under one roof.
A new major player may be set to enter the global rubber industry: India’s Reliance Industries (RIL) intends to invest in building up a rubber business to meet growing demand in Asia. "We are developing a whole new rubber business,” company chairman Mukesh Ambani told India’s Economic Times. “We will make RIL one of the world's largest players in rubber as the whole tyre industry moves to Asia. The big trend is that if you look at next ten years, the projections for automobile growth is all China, India and Asia focused." In total, RIL plans to invest some US$10 to $12 billion in its chemical business to strengthen the company’s portfolio in a number of sectors.
Yokohama Tire Corporation has added a second Major League Baseball team to its US sport sponsorship portfolio after signing an agreement with the Philadelphia Phillies. Included in the Phillies sponsorship deal is Yokohama signage in strategic positions, such as behind the home plate and on the first and third base lines, pre-game, post-game and in-game spots on the Phillies flagship radio station throughout the season, in-stadium displays and in-game announcements on the public address system and LED scoreboard.
Some two years after Goodyear established its AGRI club to encourage the sharing of best practice and industry news throughout the UK's farming community, the tyre maker has welcomed the new 1000th member. This millennial number is Kaye Davies, who works 700 acres of mixed farmland including potato, wheat, barley and OSR crops plus cattle, sheep and pigs. She operates with 11 tractors. Davies signed up at an event at Farm Tyre Specialist dealer Llandovery Tyres in Dyfed.
Following months of sky-high raw material prices and a run of price increases from large and small tyre manufacturers around the world, one Chinese company has opted to buck the trend. Sihong Benteng Rubber Products Co, Ltd, which produces Threestones branded industrial tyres and rubber track products wrote to Tyres & Accessories informing us of the impending price drop for the Threestones brand.
Ben Butlin has joined research firm JATO Dynamics as global research director. Prior to JATO, Butlin’s career included 17 years at Ford where he began as a professional mechanical engineer. His role developed into overseeing quality, product planning and project management with international assignments in Belgium, USA and Japan. His most recent role at Ford was global CV product planning manager where he was responsible for the alignment of LCV product planning across all regions.
The all-new Chrysler flagship, the 2011 Chrysler 300, is now on sale in the US, and UK sales are tipped to start in spring 2012. The 300 is shipped in four model specifications – Touring, Limited, 300C and 300C AWD – and Bridgestone Americas Tire Operations reports its Firestone-brand FR710 tyre has been selected as standard original equipment on the more upmarket Limited and 300C versions. Another Firestone tyre, the Firehawk GT, will be optional original equipment for the same models.
The formation of a new group to handle Bridgestone Americas Tire Operations’ commercial tyre business has led to the elimination of some 30 jobs within the organisation. Bridgestone Americas reports the job reductions are effective immediately; the creation of the Bridgestone Commercial Solutions Group to handle the company’s Bridgestone Bandag Tire Solutions and Off Road Tire, US & Canada Tire Sales divisions has rendered these positions superfluous.
Last weekend’s BSB round at Oulton Park provided a “best ever” moment for Maxxis-sponsored team MSS Colchester Kawasaki. The tyre maker reports that team rider Stuart Easton, having secured the new Kawasaki Ninja ZX-10R’s first podium in the 2011 MCE Insurance British Superbike Championship with a third place in race one, followed up with an even better performance in the second race and led for the majority of laps before finishing second overall. This was, Maxxis states, the team’s best ever Superbike finish.
Goodyear comments that Goodyear and blimps go together like America and apple pie, and this association will most likely continue even though the tyre maker’s next airships will be built using technology sourced from the USA’s old lighter-than-air rival: A new agreement with German zeppelin manufacturer ZLT Zeppelin Luftschifftechnik will see Goodyear supplied with airships well into the next decade.
Following the implementation of price increases averaging 10 per cent in its US, Eastern European and Russian markets in April, CGS Tyres will extend this increase into its remaining markets, including Western Europe, in May. The manufacturer says rising raw material prices are behind this price adjustment.
Giving an update on its assistance to relief efforts following the Japan earthquake and tsunami, Yokohama Rubber reports that as of April 28 Yokohama group companies and their employees had donated a total of approximately 88,500,000 yen (US$1,100,000) to the relief effort. That total includes donations of 61,700,000 yen ($760,000) by Yokohama group companies and their employees in Japan, including a 50,000,000 yen ($610,000) corporate donation by the parent company, and 26,800,000 yen ($330,000) by group companies and their employees in other nations. The companies and employees made their contributions mainly through the Red Cross societies in their nations.
As of June, 1 prices for all Pirelli passenger car and light truck tyres sold in the US will increase by six to nine per cent. The manufacturer attributes the decision to further lift prices to increasing raw material costs.
Goodyear Tire & Rubber has called US$350 million of its outstanding 10.500 per cent senior notes due 2016 for redemption on May 27, 2011. The tyre maker intends to use net proceeds from its recent mandatory convertible preferred stock offering to fund the redemption. The redemption will result in savings to annualised interest expense of approximately $40 million, of which about $23 million will be realised in 2011.
US based commercial tyre dealer Snider Tire has begun producing retreads at its sixth Michelin Retread Technologies (MRT) retread plant. The new facility is located at the company’s headquarters in Greensboro, North Carolina. Snider Tire became an MRT franchisee in May 2009, starting with two MRT retread plants, and has opened or acquired four additional MRT plants during the past two years.
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