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.
In the first quarter of 2005 Alliance Tire reported net profits of around $9.2 million including deferred tax assets of around $4 million. Alliance’s first-quarter exports amounted to $29.3 million, a growth of 16.7 per cent over the first quarter of 2004. Sales for the first quarter amounted to $37.6 million compared to $32.1 million the previous year, an increase of 17.1 per cent.
The directors of MG Rover are to face a full inquiry into their accounts and management of the collapsed car maker, The Times has reported. The inquiry, to be led by Guy Newey, QC, was ordered by Alan Johnson, the Trade and Industry Secretary, after a preliminary inquiry for the Department of Trade and Industry raised concerns. Witnesses can be forced to give evidence to the inquiry.
Firestone has launched what it claims it the world’s widest agricultural tyre. At 1250 millimetres wide, the company reports that the agricultural tyre is a full 200 millimetres wider than the nearest competitor.
Bekaert has put in a bid to take over the ECC card clothing division of Carclo, which deals in plastic components and specialist wire products.
ECC has facilities in the UK, France, Italy, Turkey, USA, Canada, China and India, and achieves annual sales of €24 million.
The value of the acquisition is estimated at €13 million. Carclo and Bekaert are expected to reach an agreement in the coming weeks.
The company first invested in this market in 2002 with the acquisition of Sobelcard in Zwevegem, Belgium, which produces half products for card clothing manufacturers.
World Trade Association (WTA) is an international tyre wholesaler, based in Coral Springs, Florida.
The company deals in all brands of passenger car, high performance, light truck and truck tyres and has more than 30 years’ experience dealing in the global marketplace, shipping tyres all over the world.
WTA is also the worldwide distributor for the Hanksugi Japan range of truck tyres, which are available in both bias-ply and radial construction. They are produced in Shanghai, with the manufacturing process controlled through the Sinochem International Company Limited.
Lanxess has concluded the first stage of a program to increase production of neodymium polybutadiene rubber, or Nd-PBR in response to growing demand for high performance rubber.
The program will modify existing manufacturing lines so that multiple grades of material can be produced on the same line, including Nd-catalyzed PBR as well as lithium-PBR and solution styrene butadiene rubber SSBR.
(Akron/Tire Review) Kumho Tire USA has introduced a specially designed tyre that produces red smoke, developed for drift competitions. The Kumho Ecsta MX-C made its debut with Enjuku Racing at the Formula Drift event at Road Atlanta last weekend.
“When we saw the red smoke boiling off the rear tyres, we just stood there and stared in awe,” said Enjuku lead driver and team captain Matt Vassallo. “I think people will be blown away when they see this.”
(Akron/Tire Review) Kumho Tire USA Corp. has leased an 830,000-square-foot warehouse and office building in a new Rancho Cucamonga, California, industrial estate and plans to move its US headquarters and distribution centre there by July. The company reportedly signed a 10-year, $35 million lease for the facility in the Haven Distribution Center. Kumho, currently headquartered in Fontana, has placed its current 265,000-square-foot headquarters and distribution centre facility on the market.
Herman Karl Hochschwender, chairman of Smithers Scientific Services, passed away Thursday, 28 April 2005 in Naples, Flrorida. He was 85.
Born in Heidelberg, Germany, on 1 March 1920, Mr Hochschwender moved to the US in 1930. In 1944 he settled in Akron, Ohio where he lived most of his life. He earned a Bachelor of Science degree from Yale University in 1941, and did post-graduate work at Harvard Business School.
Amerityre Corporation has announced that its airless polyurethane tyres has passed FMVSS 129 testing. “This is a major breakthrough in tyre technology,” said Richard Steinke, Amerityre’s president and CEO. “Over the past several years, a lot of companies have attempted to make a non-pneumatic tyre for passenger vehicles. Those attempts fell short, in large part, because they didn’t have the compounds to do it. To the best of our knowledge, we are the first company to have a tyre that completely meets the standard,” he added.
(Akron/Tire Review) Dr Georg Bohm, vice president of research for Bridgestone Americas’ Centre for Research and Technology (BACRT) has announced plans to retire as of 1 May. Dr Hiroshi Mouri, BACRT president, will assume Dr Bohm’s responsibilities at BACRT.
The public bus company of Greece’s second largest city, Thessaloniki, is to equip more than 500 of its buses with Wabco’s Integrated Vehicle Tire Pressure Monitoring (IVTM) systems.
For the second year in a row, Continental has agreed to support the Chrysler Group’s dealer training and consumer marketing programmes. Continental will provide support for the Inspired Drives, Camp Jeep and Camp Jeep: On the Road US consumer programmes.
This is a short extract. Tyrepress and Tyres & Accessories subscribers can log in below to read the full article.
If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.
Becoming a member has benefits such as:
(Akron/Tire Review) JP Morgan analysts have upped their estimates for Cooper Tire & Rubber Co and upgraded its rating to “neutral.” The analysts said Cooper is benefiting from improved tyre pricing in the US and that its first-quarter results were in line with estimates. However, the company’s share price has depreciated by 20 per cent year to date, the analysts noted. Cooper’s EPS estimates for 2005 and 2006 were increased from $0.33 to $0.37 and from $0.50 to $0.70, respectively.
Preliminary full year figures show that Beru AG increased total sales revenues by 9 per cent in the year ended 31 March 2005. Meanwhile the company conceded that sales of tyre pressure monitoring systems (TPMS) failed to meet expectations. Beru’s 9 per cent sales figure fell just short of the company’s growth target for the 2004/2005 year. Beru had aimed to achieve 10 per cent growth during the course of the year.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
