USA Archives - Page 131 of 268 - Tyrepress

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.

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Bekaert Acquires Two Bridgestone Steel Cord Plants

On January 31 Bridgestone Corporation entered into a definitive agreement to sell 100 per cent of the shares held in its Italian and Chinese steel cord manufacturing subsidiaries to Belgium’s NV Bekaert SA. The manufacturing subsidiaries to be sold are Bridgestone Metalpha Italia S.p.A. (BMI), based in Sardinia, and Guangdong Province based Bridgestone (Huizhou) Steel Cord Co., LTD. (BSSH). As part of this transaction, Bridgestone has entered into a long-term tyre cord supply agreement with Bekaert to ensure a stable supply of quality cord. Bridgestone and Bekaert will complete the transactions once all applicable governmental and regulatory approvals are received. The transaction has an enterprise value of approximately 70 million euros, and is expected to close in the second quarter of 2010.

1st February 2010/by Tyrepress Editors

Toyo Releases First 20” Track Day Tyre for Nissan R35 GTR

Toyo Tires have developed a specific fitment tailored to the needs of the Nissan R35 GTR. The 285/35 ZR 20 (100Y) front and 315/30 ZR 20 (101Y) rear sizes have been added to the Proxes R888 range. At the Autosport Show in January 2010, the tyres were fitted to the Sumo Power 660bhp Nissan R35 GTR demonstration car on the Time Attack stand. The Time Attack series has chosen the R888 as its control tyre. The series includes cars that have in excess of 700bhp, giving the R888s have a track record (so to speak) of handling the type of power output expected from such highly powered sports cars.

27th January 2010/by Tyrepress Editors

Momentive Takes Over Conti R&D Facility

The purchase of a number of assets and sublease of laboratory space from Continental Tire North America has enabled Momentive Performance Materials USA to set up a 2,000 square metre tyre research and development laboratory. The Charlotte, North Carolina site is said to offer state-of-the-art capabilities and will help Momentive provide faster innovation for customers in the tyre and rubber industry while helping the company reduce new product development cycle times. Momentive has also employed five ex-Conti R&D personnel to work at the facility.

27th January 2010/by Tyrepress Editors

Navistar Chooses Continental Tyres as OE

In the US, Navistar International Corporation has chosen Continental truck tyres as the standard original equipment fitment for all of its International PayStar, WorkStar, and DuraStar severe service and medium duty vehicles. The agreement took effect on 1 January 2010.

26th January 2010/by Tyrepress Editors

Michelin China Project to Cost US$1.5 billion?

On January 22 Tyres & Accessories brought news of plans by Michelin to invest US $989 million in China by 2012 to build a passenger car and truck tyre manufacturing facility. China Knowledge reported on January 26 that this figure may well be higher. The business information provider states that Michelin Shenyang Tire Co Ltd. plans to spend US$1.5 billion, an amount equivalent to RMB 10.5 billion, to build its new tyre plant in the Shenyang Economic and Technological Development Zone, Liaoning Province.

26th January 2010/by Tyrepress Editors

Amerityre to Leave Nasdaq February 4

Amerityre Corporation has announced the delisting of its common stock from the Nasdaq stock exchange as of February 4, in compliance with Securities and Exchange Commission rules. The company reports it is unable to meet the minimum requirements needed to remain listed on the Nasdaq, such as a minimum US$2.5 million stockholders’ equity, listed securities to a market value of $35 million, or $500,000 in net income from continuing operations. As of September 16, 2009, Amerityre’s stock had been trading below $1 for 30 consecutive business days, violating another Nasdaq listing requirement.

26th January 2010/by Tyrepress Editors

Kumho’s Kim to Dealers: “We are Here to Stay”

The sandbags outside one of the lobbies to the hotel served as an oddly timed metaphor for the 2010 Kumho Tire USA Dealer Meeting last week in Desert Palms, California, Tire Review reports. An unrelenting rain that caused floods across much of Southern California had pounded the area for a week. Its parent company in financial turmoil, Kumho Tire USA has been flooded by a rising tide of questions from media, dealers and suppliers, and the company used the meeting to address its future.

25th January 2010/by Tyrepress Editors

Byun Appointed Kumho Tire Europe President & Managing Director

Yuong Nam Byun is to be appointed the new president and managing director of Kumho Tire Europe GmbH. Byun, who studied business administration at Ohio State University in the US, has held various positions at Kumho. Most recently he was managing director, sales for Central and South America, and in this capacity also was responsible for the most important emerging markets worldwide.

25th January 2010/by Tyrepress Editors

Hankook Contemplating Price Increase

Bloomberg has brought news of Hankook Tire’s plans to increase prices to meet rising raw material costs. The company has already raised prices in the US, and according to the news service, Hankook Tire spokesman Yoon Seong Ha said “We’re considering raising prices in other regions.

25th January 2010/by Tyrepress Editors

Dunlop Extends Australian Superbike Control Tyre Deal

Dunlop Tyres’ control tyre supply to the Australian Superbike Championship has been extended for a further three seasons. The tyre maker has already served in this capacity for the past two years. “We at Dunlop are excited with this announcement and are proud to be appointed this tender,” said Dunlop’s motorcycle and motorsports National Manager Ken Wieden. "This was an important contract for us and our distributors to win.

25th January 2010/by Tyrepress Editors

Lawmakers Seek Study of Chinese Tyre Tariff Effects

In the USA Lawmakers from Texas and Oklahoma called on Thursday for a government report on the economy-wide effects of the 35 per cent tariff that President Barack Obama imposed on tyre imports from China, reports Tire Review. “I am concerned that the administration's tyre tax will cost us jobs in the United States and raise prices for tyres for hardworking Americans,” representative Kevin Brady, a Texas Republican, said in a statement. “I want to make sure that the administration has all the facts so that it can best determine how and when to end that tax.”

22nd January 2010/by Tyrepress Editors

2009 USA Miles Driven Will Likely Show Growth

The preliminary national data on miles traveled in November is good news for the aftermarket, according to the Automotive Aftermarket Suppliers Association (AASA). November mileage reported an uptick following a dismal October, when the string of year-over-year positive monthly mileage reports for 2009 ended, according to the Federal Highway Administration of the U.S. Department of Transportation.

22nd January 2010/by Tyrepress Editors

TIA Aids in Removing Retread Safety Standards From Bill

In the USA, the Tire Industry Association recently stepped forward when an attempt was made to mandate retread safety standards equivalent to the new tyre standards in a motorcoach safety bill, reports Tire Review. Senate bill S. 554, introduced by senators Kay Bailey Hutchison (R-TX) and Sherrod Brown (D-OH), contained the following paragraph:

21st January 2010/by Tyrepress Editors

Carlisle Merges Tire & Wheel, Power Transmission Belt Businesses

On January 20 Carlisle Companies Incorporated announced it has combined its tyre and wheel business with its power transmission belt business. Explaining the decision, company chairman, president and CEO David A. Roberts commented: “We announced plans to sell our power transmission belt business in April 2008. We were close to selling the business to a strategic buyer late last year when our transaction was derailed by the financial crises. During our extended sales process, we also considered retaining the belt business, which has remained profitable, and combining it with one of our other businesses. Though we recently received an offer near book value, the decision was made to retain and combine the belt business with our tyre and wheel business.

21st January 2010/by Tyrepress Editors

Bridgestone Group Companies Donate to Haiti Relief Efforts

Bridgestone Corporation, together with two of its subsidiaries, Bridgestone Americas and Bridgestone de Costa Rica is donating a total of approximately seven million yen (more than US$75,000) to assist with relief efforts following the January 12 earthquake in Haiti. Bridgestone will donate 2.5 million yen (approximately US$27,000), through the Japanese Red Cross Society. Bridgestone Americas, through the Bridgestone Americas Trust Fund, will donate 2.25 million yen (US$25,000) to the relief efforts through the Clinton Bush Haiti Fund.

21st January 2010/by Tyrepress Editors