Bridgestone to Start Steel Cord Production in China
The Asia Times is reporting that Bridgestone Corp has announced that it will begin production of high-carbon steel cord in China next autumn.
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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Pirelli Selects New Logistics Company
Product NewsPirelli Tire, has selected Kuehne + Nagel to implement a new North American supply chain solution, including optimisation and management of its warehousing and distribution network.
Michelin Reassure Over US market
Product NewsMichelin has held a meeting in New York where it announced that it is currently utilising its US truck capacity by 100 per cent. The market, which was up six per cent in H1, has dropped in the last two months, especially in the mass market when high performance tyres kept growing.
The company claimed that its price increases in the US are holding however, as they have already commented, they do not think that US customers can cope with a 3rd price increase this year. The company also claims that it doesn’t need another price increase to meet its 04E targets.
Closure of Mayfield Definite
Product NewsAccording to US media sources Continental’s decision to lock its Mayfield tyre plant has been finalised. Together workers and unions had undertaken a last attempt to divert Continental from resolving the situation through closure but their cost cutting suggestions to make the factory more competitive were to no avail.
Stapletons Reshuffle Sales Team
Product NewsStapletons has reshuffled its sales team in a move designed to deliver an improved customer service.
SmarTire Settles Legal Action
Product NewsSmarTire and the company’s debenture holders have settled their legal dispute.
Mitas Becomes CGS
Product NewsIn the future Mitas US will be known as CGS (Ceska Gumarenska Spolecnost) Tires US Inc, said Mitas president Dennis Vavrik.
Dramatic Climax to Wales Rally GB
Product NewsPetter Solberg has won the Wales Rally GB, claiming his third successive victory in what commentators described as a thrilling final day.
Michelin Confident About its US Price Increases
Product NewsRecent market reports have stated that the latest price increases in the US passenger replacement market weren’t sticking. However Michelin is said to be confident that the price increases it instigated (key to offset raw material price increases) were sticking. Michelin passed two price increases in H1of three and five per cent.
According to Deutsche Bank the company also confirmed what it had already stated last summer; that the market may see a third set of price increases this year.
New COO at Stapletons
Product NewsStapletons (Tyre Services) Limited has announced the appointment of a new chief operating officer.
The Effects of Reduced Demand
Product NewsAs a result of the decline in the US tyre market, Deutsche Bank analysts are revising their estimates for tyre manufacturers Goodyear and Cooper. The analysts say they are adjusting their share price estimates for Cooper from $1.85 down to $1.70. Goodyear’s estimates are to be adjusted by a similar amount, from 50 down to 40 cents. According to the analysts, the 1.6 per cent slip in the market during August is a consequence of high fuel prices, which in turn reduces the amount of disposable income available to consumers.
TIA Help Hurricane Recovery
Product NewsThe Tire Industry Association (TIA) has announced that it will offer resource assistance to its members in Florida, South Carolina and Georgia who were affected by Hurricanes Charley and Frances.
Cooper Avon Unveil ‘The Next Big Thing’
Product NewsCooper Avon Tyres Ltd has confirmed that it has developed a 330/30R17 motorcycle tyre. The new product will be available for sale in early 2005.
UK Equipment Appoints Service Manager
Product NewsUK Equipment Ltd has appointed Linda Norman as service manager. In her new role she will be responsible for directing the company’s team of service engineers and its service call centre based in Reading. Through her new position Linda will aim to ensure that best practice is implemented across UK Equipment’s service organisation and she will also be working closely with key customers and partners to ensure that a premium service is provided.
Before joining the company Linda held a number of managerial positions within the UK workshop equipment industry, including 20 years at Transervice and more recently David Brown Radicon.
“Linda’s appointment will strengthen our service organisation and allow us to expand our market profile in the wheel service and MoT sectors,” said Brian O’Sullivan, general manager at UK Equipment Ltd. “One of our unique strengths is that we design, manufacture and service all of our products within our company. Enhancing our service team will allow us to provide the strongest offering to garage equipment customers in the UK”.
Hayes Lemmerz Tightens its Belt
Product NewsHayes Lemmerz International, Inc’s second quarter results show that the company has felt the consequences of increased steel and iron prices and lowered OEM production requirements in North America.
