Sir Tom Farmer Receives Carnegie Medal
Kwik-Fit founder, Sir Tom Farmer has received the Andrew Carnegie Medal of Philanthropy alongside billionaire racehorse owner, The Aga Khan, and members of the Hewlett Packard and Cadbury families.
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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Federal-Mogul Gets Key Bankruptcy Agreement
Product News(Akron/Tire Review) Federal-Mogul Corp can see light at the end of the bankruptcy tunnel, thanks to a key agreement that was reached late last week between the company and administrators in the UK that will settling outstanding asbestos claims. The agreement is seen as key to allowing Federal-Mogul to emerge from Chapter 11 bankruptcy after some four years.
Toyo Sets Commercial Tyre Price Hike
Product News(Akron/Tire Review) Toyo Tire (USA) Corp. is raising prices on all of its commercial tyres by as much as 8 per cent as of 1 November. The Cypress, California-based tyre company said prices on its line of medium truck tires would increase by 5 per cent, while prices on its OTR tyres would be increased by 8 per cent.
Should Formula 1 Have a Control Tyre?
Product NewsJenson Button, David Coulthard, and Ralph Schumacher have all recently complained about tyre performance at the Brazilian and other Grand Prix. Before that there was the whole US Grand Prix debacle. Most observers and industry insiders put this down to FIA’s ‘one tyre for a race weekend rule.’ Could these and other problems all be solved with a control tyre? click here. to state your views. Don’t forget to leave some contact details so we can publish your views at a later date.
Nokian Buys US Distributor
Product NewsNokian Tyres has purchased US companies University Wholesalers Inc and University Wholesalers in order to strengthen its wholesale and logistics in the strategically important North American winter tyre markets. The purchase agreement was signed 28 of September 2005.
ATSE Appoint Sales Director
Product NewsPaul Burnell has joined ATS Euromaster to head up the commercial vehicle and national car fleet sales operation as group sales director.
Commenting on his appointment, Paul Burnell said: “There is a new, extremely positive business philosophy evolving at ATS Euromaster, I look forward to helping drive this forward and grow sales by delivering new levels of service and value to our customers of all sizes.”
Sumitomo to Acquire US Retailer TBC
Product NewsSumitomo Corp, the third-largest trading house in Japan, said it has reached an agreement to acquire US automobile tyre retailer TBC Corp this year for some 120 billion yen (£600 million). Sumitomo said it will complete the acquisition at the end of December. The acquisition is intended to solidify Sumitomo’s existing tyre business and increase profits by expanding into tyre retailing, the company said in a statement. The Japanese company plans to expand its tyre business in the U.S. by adding TBC’s more than 1,000 retail stores to its Treadways Corp. wholesaling business.
BFNAT Set to Raise Prices
Product News(Akron/Tire Review) Reuters reported this morning that Bridgestone/Firestone North American Tire (BFNAT) will raise prices on its branded, associate and private brand tyres by as much as 8 per cent as of 1 November. The increase covers the US and Canada, and the company’s Bridgestone, Firestone and Dayton brands.
Duke Nishiyama, BFNAT president, said in a statement: “Our tyre companies are facing dramatic increases in raw material costs. Unfortunately, these dramatic raw material cost increases simply cannot be offset by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company.”
Goodyear Appoints de Bok President of its EU Business
Product NewsGoodyear Chairman and Chief Executive Officer Robert J. Keegan announced the appointment of Arthur de Bok (43) as president of the company’s European Union business. Headquartered in Brussels, Belgium, the business is Goodyear’s largest outside of North America with 2004 sales revenues of $4.5 billion.
Vredestein Increase Mould Process Efficiency
Product News(Akron/Tire Review) Vredestein Banden has engaged UK software developer INCAT to help it reduce tooling costs, including a significant 50 per cent drop in the amount of time necessary to produce tyre moulds.
Supply Direct Installs UK’s First Robotic Wheel Aligner
Product NewsSupply Direct has recently installed the UK’s first robotic wheel aligner. The Nussbaum manufactured ‘WAB01’ is one of less than 30 worldwide and is located in Hodgsons-Toyota in Newcastle, which opens in early October.
According to Supply Direct, the installation of robotic equipment is not only a turning point for the company but also a turning point for the UK motor industry. It has revolutionised wheel alignment, saving time for workshop engineers therefore providing customers with a much faster and accurate service, the company says.
Alliance Opens First NA Warehouse
Product News(Akron/Tire Review) Alliance Tire USA opened its first North American warehouse this week, located in Springfield, Ill. The company did not say how large the facility was. “This is a very exciting development for us, and allows Alliance and our customers the opportunity to ensure that we can put Alliance tires on equipment at short notice,” said Manjri Shah, manager of Alliance, based in Denville, N.J. “Many customers, especially original equipment manufacturers, have been eager to see a warehouse to ensure a quick way to fill surprise needs.”
Shah said Alliance customers will continue working through their normal supply channels to fill container loads. The warehouse is for emergency needs only, she noted. In addition, the company is also soliciting suggestions from its customers on the tread designs and sizes that they would like to have close at hand. Seeking customer input will help ensure “a steady supply of the right products,” according to Alliance president Joseph Anglister.
Delphi Acknowledges Chapter 11 ‘A Possibility’
Product NewsDelphi CEO Steve Miller has predicted Delphi, the world’s largest car parts manufacturer, could enter bankruptcy by 17 October unless the United Auto Workers union and GM agree on a relief plan. Robert “Steve” Miller Jr came out of retirement in Oregon to lead Michigan-based Delphi.
Both Amcast and Speedline Optimistic About Recovery
Product NewsAmcast Corp, the former owner of Italian wheel manufacturer Speedline, is looking forward to achieving economic recovery soon. At the same time Speedlines new owners proved they too are looking forward to a bright future by investing 25 million euros in the modernisation and automisation of Speedline’s production facilities, with a similar amount scheduled for this year.
Amcast sold the European wheel business to Aluminium parts manufacturer Mazzucconi-Gruppe pm 17 March 2003, after it entered Chapter 11 status and had to sell-off some of its assets. Amcast continues to run two wheel factories in the US.
ArvinMeritor to Close Shock Absorber Plant
Product NewsArvinMeritor, Inc is to close its Light Vehicle Systems (LVS) shock absorber assembly operation in Pulaski, Tenn., US The company will transfer a portion of the production to its Detroit, Michigan, US, and Toronto, Ontario, Canada facilities, with remaining business being phased out by July 2006. The company met with employees today to discuss the transfer and closure plans, which will affect all 268 employees.
“As announced in our second-quarter earnings release, ArvinMeritor identified the need to rationalize 11 sites, to further focus its businesses on serving customer needs and improve its return on invested capital,” said Sidney Del Gaudio, vice president and general manager of LVS Undercarriage Systems. “Pulaski was one of the 11 sites chosen because its overall costs exceeded the short- and long-term returns required to sustain the business and remain competitive.”
