USA Archives - Page 148 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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GM Files C11, Chrysler Sale OK’d

Once mighty General Motors formally filed for Chapter 11 bankruptcy protection in New York this morning. The pre-packaged bankruptcy is expected to last 30 to 90 days, and GM will receive some $30 billion in US-guaranteed loans. GM is expected to emerge from bankruptcy considerably smaller, after shuttering or selling an estimated 14 plants as part of its bankruptcy. Debt-holders and the United Auto Workers will end up with a stake in the remaining company, while the US government will be GM’s largest owner.

Meanwhile, a federal bankruptcy judge has approved the sale of most of Chrysler assets to Italian automaker Fiat. The sale approval presumably clears the way for Chrysler to exit its own court protection within 60 days. Chrysler’s plan gives a 55 per cent share of the new company to a UAW trust for retirees, a 20 per cent stake to Fiat and smaller shares to the US and Canadian governments. Fiat’s share could grow to 35 per cent under the plan. (Tire Review/Akron)

1st June 2009/by Tyrepress Editors

ITMA Launches European Technical Group

The Imported Tyre Manufacturers’ Association has launched a European Technical Group, aimed at better supporting its member companies across the 27 member states of the EU. Speaking about the new initiative, ITMA Director Peter Taylor said: “The tyre industry is facing a deluge of new Directives and Regulations and we must organise ourselves better in order to prepare to deal with them. By sharing our individual resources in this way we can have a big impact.

“Across the Union, our members account for up to 40 million units annually and we must not allow ourselves to be marginalised or seen wanting. The formation of this group will help us to serve our members better, encourage others to join and give us a unique, new voice.” The group is comprised of tyre engineers and other specialists nominated by ITMA member companies from around the world; it has already held its first meeting.

28th May 2009/by Tyrepress Editors

Visteon Files Chapter 11 Bankruptcy Protection

In the USA, giant parts supplier Visteon Corp. – faced with severely reduced demand from automakers, has filed for Chapter 11 bankruptcy protection. According to the Associated Press, Visteon filed its petition in the US Bankruptcy Court for the District of Delaware. Last month, it’s Visteon UK subsidiary filed for bankruptcy protection and closed three UK plants.

With its first quarter financials, Visteon showed total liabilities of $3.96 billion and total assets of $4.56 billion. “During the reorganization period, we will seek to address our capital structure and legacy costs that are not sustainable given the current economic environment,” Donald Stebbins, chairman and CEO, said in a statement published by the AP.

Visteon, which in 2000 separated from Ford to become a stand alone company, said Ford has committed to support debtor-in-possession financing for Visteon’s restructuring. Visteon has also applied for court permission to continue serving customers and paying employees and vendors. (Tire Review/Akron)

28th May 2009/by Tyrepress Editors

Love Still Growing After a Year, Reports Michelin

In May 2008 Love’s Travel Stops, a company ranked by Forbes Magazine as one of the top 25 largest privately held companies in the US, began a cooperative agreement with Michelin Americas Truck Tires. A year down the line Michelin has announced that Love’s outlet in Memphis Tennessee has become the 25th truck tyre care service location it has opened since the agreement was signed.

27th May 2009/by Tyrepress Editors

Hoosier Lays off Staff at Manufacturing Facility

A number of workers at Hoosier Tire & Rubber’s Plymouth race tyre manufacturing plant in Indiana, USA were laid off on May 26 in response to current market conditions. According to news released by the company, the layoffs constitute a “small workforce adjustment,” however the exact number of jobs lost was not specified.

“This reduction in force is necessitated by the current economic and market conditions,” read the statement. “We believe we have taken careful steps to remain a major player in the very competitive national motor sports market place.

27th May 2009/by Tyrepress Editors

Freightliner Extends Bandvulc Contract

Freightliner, the UK’s largest haulier of maritime containers has extended its commercial tyre agreement with Bandvulc Tyre Contracts. Freightliner operates a fleet of over 300 road vehicles, for final delivery and collection of containers from customer’s premises. Using Bandvulc retreads across all of its drive and trailer axles, the agreement sees Bandvulc collecting and managing all of their tyres and disposing of them within environmental guidelines.

Richard Branston, general manager Road and Port Operations for Freightliner comments; “Bandvulc has been involved with Freightliner for over 10 years and the processes we have developed in conjunction with BTC have helped us control and manage our tyre policy effectively and recent developments have seen us extend this relationship further. The management and control of a nationwide operation required a comprehensive set of partners to work with and BTC’s network enabled service delivery 24/7/365 in all areas of the UK.”

27th May 2009/by Tyrepress Editors

GITI to Construct New Chinese Proving Ground and R&D Centre

Another crucial area of responsibility for ETC’s leadership is the development of new global test facilities, test equipment and methodology. For the time being, at least, this centres on two key multi-million dollar projects – the development of the company’s recently constructed R&D centre alongside its Hefei City, Anhui Province manufacturer facility and the design and construction of a new cutting edge proving ground. The idea here is to bring premium quality tyre testing and development to China in order to enable the entire global company to produce higher order products, with the ultimate aim of competing with the premium manufacturers.

27th May 2009/by Tyrepress Editors

Yokohama’s Team Geolandar Fielding Electric Vehicle at Pikes Peak

The Pikes Peak International Hill Climb is arguably the world’s best-known hill climb event, and in 2009 Yokohama Rubber is fielding an electric vehicle in the event. The company’s Team Geolandar off-road racing team will race to the 4,301-metre summit on July 19 in a self-created vehicle equipped with Geolandar H/T-S tyres.

The Japanese manufacturer refers to the Colorado, USA based event as the “Yokohama Team Geolandar EV Off-Road Challenge,” and states its aim in participating is to contribute towards meeting its environmental responsibilities. In this instance Yokohama wishes to promote awareness of the current and future potential of electric vehicles and gain real world experience to help it develop electric vehicle tyres suitable for use in severe off-road conditions.

26th May 2009/by Tyrepress Editors

Bridgestone Paid Royal Visit at Monaco Grand Prix

Bridgestone Motorsport has described itself as “honoured” when it received a princely visit from Albert II, sovereign prince of Monaco, on the Thursday of the 67th Monaco Grand Prix. Prince Albert was welcomed into Bridgestone Motorsport’s motorhome, meeting Hiroshi Yasukawa, director of Bridgestone Motorsport. Bridgestone has enjoyed a thirteen-year continuous association with the FIA Gold Medal Award-winning race at Monte Carlo, enjoying ever increasing global TV coverage both from its technical association and commercial signage around the track.

Yasukawa said, “It was a great honour to receive Prince Albert at Bridgestone and to earn recognition from His Serene Highness for our association with the Monaco Grand Prix. This is the most important and prestigious motor race in the world. It is the jewel in the racing crown seen around the globe by one of the biggest television audiences of the year, producing the highest return in commercial value of all the races.”

22nd May 2009/by Tyrepress Editors

Autoglym Aids Record Attempt

The British team behind ‘Inspiration’ – the vehicle that will next month make an assault on the world land speed record for a steam-powered car – recently called on the skills of car care experts Autoglym as part of final preparations before the car is shipped to the USA for its record attempt. The Autoglym team was tasked with reducing surface drag and enhancing the appearance of the already stunning-looking car with a coat of its super-durable High Definition Wax.

At Edwards Air Force in the Mojave Desert, California, the team will attempt to break the 145mph US national record (set in 1985) and the FIA record of 127mph which has stood for 103 years. The Inspiration team hopes to hit 170mph, and every effort has been made to optimise aerodynamic performance and reduce drag. Autoglym’s High Definition Wax was applied to Inspiration’s metallic British Racing Green paintwork to provide a smooth, ultra-glossy surface that will help the car to cut through the air with minimal resistance.

22nd May 2009/by Tyrepress Editors

Continental Industrial Tire Names Dealer of the Year

Continental Industrial Tire, a division of Continental Tire North America, named Equipment Depot, located in Irving, Texas, as the 2008 Dealer of the Year. Ed Fritz, Equipment Depot executive vice president, received the award at the Material Handling Equipment Dealer Association Convention, held at the JW Marriott Desert Spring Resort in Palm Desert, California, on 2-6 May.

In its first year as a Continental Industrial distributor, Equipment Depot became Continental’s largest aftermarket distributor in North America, according to the tyre-maker. Joe Pauli, Continental’s US BUIT market manager, presented the award. “Equipment Depot has embraced the concept that industrial tires are the fastest wearing part on today’s forklifts,” said Phil Lannon, Continental’s U.S. Business Unit Industrial Tire sales manager. “We are pleased to award them the 2008 Dealer of the Year and consider them one of our most valuable aftermarket distributors.” (Tire Review/Akron)

22nd May 2009/by Tyrepress Editors

Automechanika Shanghai

Automechanika Shanghai, reputedly Asia’s largest automotive trade fair and the organiser’s second largest Automechanika fair, will take place from 9 – 11 December 2009 at Shanghai New International Expo Centre. This fifth edition of the fair is organised by Messe Frankfurt (Shanghai) Co Ltd and the China National Automotive Industry International Corporation (CNAICO). In line with the product profile of the global Automechanika brand, the event will encompass a broad spectrum of products and services for the automotive original equipment and aftermarket. Products on offer cover the sectors Parts & Systems, Accessories & Tuning, Repair & Maintenance, IT & Management to Service Station & Car Wash.

In 2008 Automechanika Shanghai had a record number of 1,982 exhibitors from 23 countries and regions showcasing their products in eight halls covering 92,000 square metres. The show attracted more than 30,800 visitors from 104 countries and regions and half of the buyers had full purchasing authority. The number of exhibitors and visitors were up to 59 per cent and 41 per cent respectively.

20th May 2009/by Tyrepress Editors

Bridgestone-Firestone Receives State Funds for Job Retention Project

A grant of US$1 million is to pay for repairs on roads around the company’s Bridgestone Firestone Tech Center in Akron, Ohio, the Akron Beacon Journal reports. The city of Akron will use the state provided Road Development Grant in support of the Bridgestone Firestone North American Tire LLC job retention project. According to a news release from the Ohio Department of Development, this $11.5 million project will support the retention of 1,000 jobs.

The grants, administered by the Ohio Department of Development, was approved by Ohio’s State Controlling Board.

19th May 2009/by Tyrepress Editors

ArvinMeritor to Close Carrollton Wheel Assembly Facility

Global market weakness has been cited as the reason behind ArvinMeritor’s decision to idle its Carrollton facility. Wheel end assembly operations at the plant, located in the US state of Kentucky, will be moved to other facilities in Kentucky and Ohio and the machining and casting activities currently performed on-site will be outsourced.

“Although the employees in Carrollton have demonstrated a strong commitment to performance and quality, the continued weakness in the global markets has driven the company to aggressively reduce costs to lower its breakeven point,” said Wayne Watson, general manager, North American Operations for ArvinMeritor. “Closing the Carrollton operation is another necessary step toward improving the company’s overall cost structure.”

18th May 2009/by Tyrepress Editors

New Falken Tyre Gets “Rugged”

In the US Falken Tire Corp. has introduced a new, rugged line of all-terrain tyres – the High Country A/T. Falken said the “Falken High Country A/T confidently transitions when surfaces go from smooth to rough and dry to muddy,” and the tyre features a deep tread depth, heavy siping and M+S performance for all types of weather and driving conditions. The tyre is available in 24 P-metric, LT-metric and flotation sizes, ranging from 15- through 20-inch wheel diameters.

18th May 2009/by Tyrepress Editors