Wheels
Titan International (Quincy, Illinois), manufacturer of wheels and tyres for off-highway vehicles, has announced a cash dividend of $ 0.015 for the first quarter of 2000. In 1999 Titan’s sales declined and a net loss was recorded.
Hayes Lemmerz sales and earnings in the first quarter 2000 were at the same level as last year. A significant drop in orders for heavy truck wheels and brake components was compensated by a successful expansion of aluminium wheel capacity worldwide.
Italian brand Melber had to leave the German aftermarket for alloy wheels last year. In co-operation with Euro Consulting and sales manager Josef Holder the company is now planning a relaunch of the brand in the German market.
Hayes Lemmerz, the world’s leading supplier of wheels, has announced record 1999 fourth quarter and full year figures in both earnings and sales. The strong expansion of the wheel business (especially aluminium wheels) and the acquisition of CMI are the main reasons for the good results. Hayes Lemmerz also announced the contract for its sixth wheel/tire assembly facility: for BMW in Munich.
Hayes Lemmerz International, one of the world’s leading suppliers of wheels, brakes, powertrain, suspension, structural and other lightweight components to the automotive and commercial highway markets, has announced that its Board of Directors has approved the repurchase of up to an aggregate of $30 million of its outstanding Common Stock. “Based on current market prices, our stock is at a historical low and we believe that the repurchase program is a good investment of available funds,” said Ron Cucuz, Hayes CEO and Chairman of the Board.
Speedline is a well-known producer of light alloy wheels for original equipment. However, the Italians want to improve their position in the aftermarket and thus a sales company has been formed for Germany in Ravensburg: SL Corse.
Alloy Wheels International (AWI), a subsidiary of South African company Murray & Roberts, has closed its Cardiff plant because of an expected fall in demand from oe customers Rover Cars and Land-Rover and reduced competitiveness because of currency problems. 250 jobs are lost.
With the sale of assets Titan International (Quincy/Illinois), a manufacturer of speciality tyres and wheels, has exited the oe business with lawn and garden equipment as well as all terrain vehicles (ATVs) and improved its second quarter results due to the price paid by Carlisle Tire and Wheel Co. The new strategy of Titan will be to concentrate on agricultural and construction wheel business and tyre assemblies and to focus more on aftermarket demands.
The division Speedline Truck supplies the major truck manufacturers in Europe and North America. In future the range will include flow-formed wheels – for trucks Speedline uses this technology exclusively, which has the effects of reduced weight and improved mechanical properties.
North America’s Accuride Corp. (Evansville/Indiana) is an enormously profitable producer of steel and aluminium wheels for trucks and recorded a record jump in sales to more than 500 million US-$ in 1999. Founded by Firestone in 1905, the company was sold in 1986 to Phelps Dodge Corp., cooperated with Goodyear 1992 and was sold again in 1998 to investment group Kohlberg, Kravis and Roberts (KKR). Now the automotive supplier has its eyes set on the European market for investments, maybe also in aluminium wheels for cars.
Superior Industries (Van Nuys/California), North America’s Leading oe supplier of aluminium wheels, announced record revenues of more than 331 m US-$ (+13.5%) and record net income to more than 40 m US-$ (+16.3%) after tax.
Italian company Lancia has built a new limousine as a present for the Pope. The car will be fitted with four special aluminum wheels produced by Speedline (Tabina).
During the annual shareholders meeting of Continental, the tyre manufacturer announced that it is going to build up an online tyre shop which will go live at the beginning of next year. At first he offer will contains passenger car tyres and service, and later complete wheels and car accessories will be included.
New contracts for chrome-cladded steel wheels from General Motors and DaimlerChrysler have prompted ArvinMeritor to expand its San Luis Potosi (Mexico) facility. Staff numbers will increase from 300 to 450.
DTM (Deutsche Tourenwagen-Masters), the popular German racing series, will be revitalised this year. Dunlop is supplying all participating teams (Audi, Opel and Mercedes have confirmed their participation) with tyres. AMG-Mercedes’ teams, eight expected, will have wheels fitted by ATS.
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