USA Archives - Page 244 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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Michelin To Buy 10 Per Cent Of Hankook

Michelin and Hankook have signed a partnership agreement, involving co-operation in R&D, manufacturing and distribution. Hankook will be licensed to produce Michelin’s PAX run-flat technology as part of the agreement. Michelin will take a 10 per cent stake in the Korean company, which, based on the share price when the deal was signed, is estimated to be worth just over US$ 33 million. Shares in Hankook rose almost five per cent on the news, nearly four times better than the market in general.

28th January 2003/by Tyrepress Editors

Pirelli Introduces X-Pressure

Pirelli has introduced a sophisticated tyre pressure monitoring system for the aftermarket, aimed at cars, light vans, SUVs and light trucks. Called “X-Pressure”, the system is easy to install, says Pirelli, and is approved for use in the USA and Europe. It uses wireless technology to transmit inflation pressure and temperature data from transmitters in each wheel to an in-cabin receiver/display module. The system has implications for both safety and tyre life, plus it offers a simple solution for those motorists wishing to fit run-flat tyres, where a pressure monitoring system is essential.

28th January 2003/by Tyrepress Editors

Fiat Auto Predicts Larger-Than-Expected Loss For 4Q

Fiat has warned that its auto division will report a loss of around 187 million Euros for the fourth quarter. Previously the company had predicted a break-even for 4Q, while analysts were forecasting a loss of 35 million Euros. If the estimate is correct, Fiat Auto’s loss for the year 2002 will be 1.4 billion Euros. The company has sold assets in an attempt to improve its financial position, including its 5 per cent stake in General Motors, bought by Merrill Lynch for US$ 1.16 billion.

21st January 2003/by Tyrepress Editors

RFID First For Michelin

As reported in T&A RFID tyre identification systems are about to become an element of tyre production and management. After testing on truck and earthmover tyres, Michelin has begun fleet testing of Radio Frequency Identification tagging on passenger car and light truck tyres. The technology allows the tyre identification number to be associated with the vehicle identification number (VIN) making the tyres uniquely identifiable with an individual vehicle, telling when and where the tyre was made, maximum inflation pressure, tyre size, etc.. The ability to identify and track individual tyres through their life cycle has attractions for tyre management services, but ultimately may have applications in the control of the tyre life cycle, including retreading and recovery.

15th January 2003/by Tyrepress Editors

Generation Power At Titan Technologies

Titan Technologies (Albuquerque/USA) has announced that its ability to generate electricity by using the gas and carbon black byproducts generated by its tyre recycling process has sparked considerable interest from tyre shredding operations across North America.Titan had been researching the use of its plants to generate electrical power. Titan addressing costs and developing scrubbers to eliminate emissions from combustion of the oil, gas and carbon black produced by the process. Once these costs have been determined, Titan will develop an electrical generation business pro forma for different locations. At this time, Titan believes that a TRTM plant is an economically viable electrical generation system. Ronald L. Wilder, Titan’s president, added, “All cities and countries have major waste tyre problems and most, if not all, will need additional electrical generation. There can be special benefits if additional power comes from recyclable waste tyres”.Titan’s current claim is that the BTU output of a Titan Technologies tyre recycling plant processing 100 tons of scrap tyres per day is almost 3 billion BTU/day in excess of the energy required to operate the recycling plant. This excess will generate approximately 20 mega watts of continuous electrical power.

15th January 2003/by Tyrepress Editors

Changes At Bridgestone USA

Noburo “Tim” Kawakami, president of Bridgestone/Firestone manufacturing operations in the USA, is to retire on March 31 next year. His place will be taken by Masao Wada, currently manager of the factory at Aiken County, South Carolina, and succeeding Wada will be Mike Rose, operations manager at the facility. In keeping with events in Europe, the American subsidiary is changing its name, from Bridgestone/Firestone Americas Holding to Bridgestone Americas Holding.

30th December 2002/by Tyrepress Editors

Bridgestone Gets Go-Ahead For Indian Investment

Indian Commerce Minister Arun Shourie has approved 23 foreign direct investment deals, worth 920 million Rupees (US$ 19.1 m). One of these is for Bridgestone to increase its equity holding in its Indian subsidiary from 90 per cent to 100 per cent, with an investment of 666 million Rupees (US$ 13.85 m).

30th December 2002/by Tyrepress Editors

2002 US Tyre Shipments Rise

In the USA, the Rubber Manufacturers Association is predicting that 2002 tyre shipments for new vehicle owners will rise by 7.3 per cent to 58.5 million units. This rise is fuelled by the heavy incentives and zero-finance offers from car manufacturers. The RMA also forecasts that car tyre OE shipments next year will stay flat and are expected to rise again in 2004 as the economy improves. An improved economy will also mean an increase in truck and trailer tyre shipments, says the RMA.

30th December 2002/by Tyrepress Editors

Hayes Lemmerz Files Reorganisation Plan

Hayes Lemmerz has filed a Plan of Reorganisation with the US Bankruptcy Court. This is the first step in the company’s attempt to emerge successfully from Chapter 11 proceedings, which it hopes will happen in the first half of next year. The Plan requires approval from creditors and the Court. Among the corporate initiatives already put in place by Hayes Lemmerz are rationalisation of manufacturing and marketing and divesting non-core assets. It is understood that the plan involves Hayes Lemmerz paying creditors $425 million in notes and common stock in the reorganised company and assuming a debt of $650 million.

18th December 2002/by Tyrepress Editors

Martien de Louw New Board Member for Passenger Tires Continental

The Supervisory Board of Continental AG (Hanover) has appointed Martien de Louw (56) to the company’s Executive Board, with responsibility for the Passenger Tire division. Board chairman Manfred Wennemer (55) previously oversaw the division in addition to his other duties. De Louw will take up his new assignment on February 1, 2003.

16th December 2002/by Tyrepress Editors

Safety The Priority In J D Power Survey

In a study of Automotive Emerging Technologies by J.D. Power in the USA, safety-related features were more important to motorists than entertainment or convenience. The most popular safety feature on the motorists’ wish list was a tyre pressure monitoring system, prompted by recent tyre recalls. However, the study found that the price of these features is important – one feature which was high on the list was infra-red night vision, but interest dropped dramatically when consumers were told this would cost $1,800.

13th December 2002/by Tyrepress Editors

Hoosier To Be Control Tyres For 2003 Ascar Series

Cars in the 2003 Ascar race series in the UK will be running on Hoosier radials, similar to those used in oval racing in the USA, where Hoosier provide over 65 per cent of control tyres. The tyres were tested at the Rockingham circuit, at 150+ mph speeds for up to 50 laps at a time. With 105 laps completed, the softest compound tyre was found to be only 50 per cent worn.

12th December 2002/by Tyrepress Editors

Goodyear Director Resigns

In the USA, Philip A. Laskawy (61) has resigned from Goodyear’s Board of Directors, which he joined in August 2001. Laskawy is set to join the Board of General Motors and, as Goodyear is a major supplier to GM, he felt that remaining on Goodyear’s Board could lead to a potential conflict of interests, hence the resignation.

5th December 2002/by Tyrepress Editors

Bridgestone Lowers Profit Forecast

Bridgestone Corporation has reduced its profits forecast for the year by 43 per cent; down to 40 billion Yen (322.3 million Euros) from 70 billion Yen. This is a result of the planned investment in the corporation’s European operations of 400 million Euros and a one-off charge of 300 million Euros to cover the write-down of equipment. Analysts believe that Bridgestone is now concentrating on reviving its European operations, having concentrated on the US over the past couple of years, due to the Firestone recall. In the USA, Bridgestone/Firestone is set to make a profit of $70 million this year, compared to last year’s losses of $1.67 billion.

5th December 2002/by Tyrepress Editors

SmarTire Plans London Listing

Canadian company SmarTire, which makes tyre pressure monitoring systems, is said to be considering moving its stock exchange listing from Nasdaq to London. The reason, according to chief executive Robert Rudman, is a lack of understanding of its business among US investors. SmarTire is bidding for potentially lucrative contracts and Rudman believes the company is undervalued, with shares having fallen to 60 cents.

3rd December 2002/by Tyrepress Editors