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.
Reuters reports that GITI Tire intends to launch a US$400 – 500 million initial public share offer in Hong Kong in the near future. The news agency states that a ‘source’ indicated Giti Tire plans to seek Hong Kong listing committee approval in the coming two weeks, aiming to list shares in April. The deal is, adds Reuters, sponsored by BofA Merrill Lynch and Credit Suisse.
Dunlop has released an application for iPhone and Blackberry devices designed to give consumers information on the tyre best for the user’s car and the features and benefits of the selected tyre. The application allows users to search for the most appropriate tyre for their car by selecting their vehicle model. It also allows users to find out where their nearest Dunlop stockist is at the press of a button. It provides all the information available on the brand’s website, but with what the company says is an easier and simplified viewing format specifically designed for the smaller mobile screen.
Accuride Corporation recently debuted a line of OEM-quality chrome wheel accessories. This new range consists of ABS chrome front and rear wheel hub and nut covers designed to fit most class 7 and 8 trucks, trailers, and recreational vehicles.
As a provider of advanced wheel alignment systems to the UK market, Northamptonshire-based company Pro-Align stresses the advantage of cutting edge equipment from the point of view of both service quality and commercial opportunity. Its latest product from US garage equipment manufacturer Hunter – the Hunter CodeLink – fits this bill, both catering for models in the Audi, BMW, Lexus, Chevrolet, Mini, Toyota and Volkswagen ranges and anticipating the increase in popularity of Electronic Stability Control in new cars; a system that will become a requirement in all new cars from 2012.
Maxxis is offering cash rewards or ‘contingency payments’ totalling more than a million dollars to ATV and motorcycle racers competing in eight major US race series this season. “Historically, Maxxis has offered cash for certain classes and free tyres for the rest. This year, we’ve gone to an all-cash contingency since racers are having a harder time than ever coming up with the money for things like gas, hotels and all other race expenses. And of course, the extra cash will help when they need to replace their well-used Maxxis tyres,” said Maxxis senior sales representative Harry Tripp.
Bridgestone Motorcycle Tyre Development manager Tohru Ubukata has declared himself “very confident” in the new MotoGP rear medium compound tyre supplied by the series’ tyre provider for testing at Sepang, Malaysia. The manufacturer also tried out a developmental specification hard front slick over the two day testing period – the results of which will go towards determining the future direction of Bridgestone’s tyre technology, according to the company.
NHTSA has announced that Toyo Tire Holdings of Americas is recalling certain Nitto Terra Grappler All Terrain, Toyo Open Country A/T and Toyo Proxes ST II tyres, according to US trade news source Tire Review. All of the recalled tyres are in size 305/50R20. The exact number of tyres being recalled was not announced.
Pensions & Investments magazine reports that Goodyear’s pension plan is badly underfunded, and that the tyremaker will contribute between $275 million and $325 million to its global pension plans in 2010. Goodyear had contributed $430 million to its plans in 2009, the magazine reported.
The Press Trust of India writes that the country’s government is “likely” to implement an anti-dumping duty on bus and truck radials imported from China and Thailand. The Commerce Ministry’s Directorate General of Anti-dumping and Allied Duties (DGAD), it reports, has recommended a US$90 duty per tyre.
An anticipated increase in demand within Africa and the expectation of growing OE sales in Europe have led Apollo Tyres to plan capacity increases in these two regions. The Wall Street Journal reports the company’s South African activities involve the investment of US$30 million this year at its two Dunlop facilities there in order to boost passenger car radial capacity from 10,000 units per day to 12,500, while truck and bus tyre capacity is to be lifted from the current daily level of 800 units to between 1,200 and 1,500 tyres.
Alliance Tire appointed three veteran tyre executives to its management team, reports Tire Review: Bob Arnold is vice president of aftermarket sales; Randy Gaetz is vice president of OE sales; and Todd Richardson is chief financial officer. “We’re building an outstanding team to serve our customers in the field,” said Manny Cicero, president of Alliance Tire USA.
Liberia’s rubber industry is often shrouded in controversy, with various parties claiming the use of child labour and a workforce trapped in a cycle of poverty. Numerous charitable organisations are working to improve conditions for Liberians working on the nation’s lucrative rubber plantations, however, and Firestone Natural Rubber Company (FSNR) reports its intention to extend its partnership with these charities – its Donation Cargo Program – through 2010. This year’s efforts mark to ocean freight programme’s fifth year in operation.
Following the announced retirement of Bridgestone Americas, Inc. (BSAM) chairman, CEO and president Mark Emkes, company vice president, general counsel, chief compliance officer and secretary Gary Garfield stepped up to the plate to take on the positions of CEO and president. Filling Garfield’s shoes in his former roles is Chris Nicastro, who is currently general counsel, Bridgestone Americas Latin American Operations, and corporate compliance officer, BSAM. Nicastro’s appointment in this new portfolio of positions takes effect March 1, 2010, and will involve him taking over responsibility for overseeing the company’s legal and compliance functions.
Four more North American market Yokohama commercial vehicle tyres have been added to the US Environmental Protection Agency's SmartWay list of verified fuel-saving technologies for tyres. This brings the number to seven of Yokohama products that are recognised as SmartWay "low rolling resistance tyres." SmartWay Transport, a collaboration between the EPA and the freight sector, is designed to improve energy efficiency and energy scrutiny, and reduce greenhouse gas and air pollutant emissions.
BSRO, which operates Firestone Complete Auto Care, Tires Plus, ExpertTire and Wheel Works, opened 68 new automotive service locations across the USA in 2009, creating more than 800 new jobs. The new stores feature updated waiting rooms and consultation pods and offer improved bay spacing for customer vehicles.
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