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.
US-based Michelin Retread Technologies (MRT) retreader Allied Oil & Tire Company has reached the million-mark. The company, which is located in Omaha, Nebraska, opened the doors of its MRT plant in 1998, and upon celebrating the retreading of its one millionth commercial vehicle tyre plant manager Don Roberts commented that “this milestone speaks volumes about our commitment to customer satisfaction and producing industry-leading retreads.”
US distributor of the Double Coin brand, the China Manufacturers Alliance, is one of the latest companies to join the Retread Tire Association. Reporting this new addition, RTA managing director Harvey Brodsky commented “We continue to be very pleased and gratified at the amount of support our exciting new association continues to receive from retreaders and others in the retread and tyre industries. Since our beginning in 2010, 298 members have joined our association and we are grateful to every one of them for their support in our ever growing association.”
Myers Industries has reported full-year 2012 figures, which feature a 40 per cent increase in earnings per share (EPS) growth. This was reportedly driven by productivity gains and new product introductions. 2012 net sales were US$791.2 million compared with $755.7 million in 2011. However, it has to be said that this was mainly held up by strong sales performance in the Engineered Products and Material Handling Segments. In fact, according to the company, it was the relative strength of these segments that “more than offset sales decreases in the Distribution and Lawn & Garden Segments.
Michelin and BMW Motorsport have announced plans to join forces to contest the American Le Mans Series (ALMS) and the Nürburgring 24 Hours in 2013. According to the two companies, this means the German carmaker’s BMW Z4 GTE and BMW Z4 GT3 cars will run on Michelin ‘Ultimate’ endurance racing tyres. The 2013 programme’s first competitive outing will be the 12 Hours of Sebring in Florida, USA, on 16 March.
Hankook Tire America Corp has named Thomas Kenny its new vice president of technology and head of its Akron Technical Center. Tire Review reports that Kenny will be responsible for managing various aspects of work at the Akron Technical Center, including development, testing and research for Hankook tyres sold in the US.
Cooper has secured its first US original equipment deal with Ford, which has selected the Cooper Zeon RS3-A as the standard fitment on its 2013 Ford Focus SE and Titanium models. Tire Review reports that the all-season UHP tyre will be supplied in W-rated size 215/50R17.
Dunlop’s motorcycle tyre management team in the US has been expanded by the appointment of Cary Budzinski as its new general manager of sales. Budzinski begins his new role with more than 26 years at Goodyear’s retail store and consumer business units behind him; most recently he served as general manager of dealer development for Goodyear’s Consumer business unit. In his new position, Budzinski will report to Mike Buckley, Senior vice-president sales/marketing & R&D. Reporting to Cary will be Scott Dewey, Phil Waters, Fred Hassen and the rest of Dunlop’s sales force.
Bridgestone reports its first-ever original equipment run-flat tyre fitment on a General Motors vehicle with the selection of its Potenza RE050A RFT for the 2013 Cadillac ATS. The Potenza is being supplied to GM in size 225/40RF18 88W (front) and 255/35RF18 90W (rear) for fitment on the ATS Premium Collection, the highest level package available on the new Cadillac.
The Carlsson-developed SLK 340 international hillclimb race car due to première at the Geneva Motor Show on 5 March is capable of developing a respect-worthy 782bhp per tonne, and a car with this level of performance needs a suitable tyre. Thus Avon Tyres takes pride in reporting that its hillclimb tyres have been chosen as the SLK 340’s original equipment fitment.
US-based speciality chemicals company Cabot Corporation has announced reaching “another key milestone” in its technology licensing agreement with Manufacture Francaise des Pneumatiques Michelin for use of Cabot’s patented elastomer composite technology in tyre applications. Regular royalty payments to Cabot have now begun and will extend through fiscal 2022.
Another expansion of Continental’s Mount Vernon, USA plant will commence in order to meet growing North American demand for commercial vehicle tyres. Continental Tire the Americas will invest US$129 million in the plant, with $95 million of the funds going towards expanding CV tyre production, including wide-base truck tyres. The expansion of the Mount Vernon plant’s commercial vehicle production is expected to be complete in mid-2015 and will increase truck tyre capacity to more than three million units per annum. At least 80 new jobs will be created.
Toyo Tires racers won six stages and 13 podiums during the 2013 Dakar. Team Toyo’s Robby Gordon finished the Rally strongly, winning Stages 11 and 13 while two past Dakar champions, Carlos Sainz and Nasser Al-Attiyah, used the Toyo Open Country M/T-R to win Stage One and Stages Three, Four and Six respectively. Sainz drove the American-built #303 Team Qatar Red Bull buggy, Al-Attiyah the #300 Team Qatar Red Bull buggy, while Gordon competed in the Toyo-supported #315 Speed Energy/Toyo Tires/Mapei Hummer.
German tyre maker and automotive supplier Continental has improved its debt maturity profile through the signing of a new syndicated loan agreement. Committed to by approximately 30 domestic and international banks, the credit amount has been reduced slightly. It now totals 4.5 billion euros and is split up into two tranches of differing duration – a 1.5 billion euro loan with a term of three years, and a five-year, 3 billion euro revolving credit line. For the new syndicated loan, Continental has been able to obtain the release of the asset collateral previously put up for financing and has also implemented “further simplifications” with regards to the documentation.
Some 1,700 Continental motorcycle tyres sold in North America are the subjects of a voluntary recall. Based upon market feedback it has received, the tyre maker says that under certain service conditions the size 180/60R16 M/C 74H ContiMotion may experience uneven wear, groove cracking and in some cases belt lift, which can lead to a loss of inflation pressure and a potential loss of control. These service conditions have been observed on the rear tyre of Honda Gold Wing 1800 motorcycles, particularly under conditions of overloading and/or under-inflation. Continental adds that has not received any reports about accidents resulting from this condition.
Bridgestone Corporation says it has acquired the land where its Shenyang, China truck and bus tyre plant will be relocated to. In accordance with Shenyang City development policies, which were revised following the urbanisation of the area surrounding the Bridgestone (Shenyang) Tire Co., Ltd plant, production will be moved to the Shenyang Chemical Industry Park. The new site will encompass approximately 395,000 square metres and relocation will involve a total investment of US$99.9 million.
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