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Net Sales, Net Loss Up for Hayes Lemmerz in Q2

Hayes Lemmerz reported on September 6 that its sales for the fiscal second quarter ended July 31, 2007 were US$570.3 million, up 19 per cent from $480.8 million in the corresponding quarter of 2006. The sales increase came from strong international steel and aluminium wheel sales, metals cost recovery and favourable currency fluctuations, the company said.

For the fiscal second quarter, the company reported adjusted EBITDA of $48.5 million, up $6.6 million from $41.9 million a year earlier, and a loss from operations of $4.8 million, compared with year earlier earnings from operations of $7.4 million. “We continue our strategy of restructuring our business, executing our operating plan, and extending the lead in our global wheel business,” said Curtis J. Clawson, president, CEO and chairman of the board.

As part of the company’s ongoing restructuring efforts, Hayes Lemmerz reached “important milestones” in the second quarter that it believes significantly improve its long-term outlook, while imposing one-time transaction costs. “We greatly strengthened our balance sheet by raising $193.1 million through an equity rights offering and a direct equity investment, and paying down $130.8 million of long term debt,” said Clawson. The balance sheet restructuring, which included the rights offering, new senior credit facilities totalling approximately $495 million, and 130 million euros of 8.25 per cent senior unsecured notes issued by a European subsidiary, “improved our liquidity by $80 million, will generate interest cost savings of approximately $24 million annually, and extends all significant debt maturities until 2013 or later.”

7th September 2007/by Tyrepress Editors

Tiger Auto Mauls a 19 Per Cent Headline Earnings Increase

Tiger Automotive has thrived since its unbundling from Tiger wheels last December, and the company’s latest financial bear testimony to the wheel and tyre distributor’s good health. Tiger Automotive reports that in its first full year as a company listed with South Africa’s JSE stock exchange in its own right, it has achieved a 19 per cent increase in headline earnings, to Rs 1.242 (£0.085) a share. Revenue has risen 17.3 per cent to Rs 1.1 billion (£75.3 million). The company reports that these results counter the typical pattern of lower earnings in the second half. At the half-year stage, headline earnings were 15.2 per cent up at Rs 0.61 (£0.042), and the forecast was for a slight increase in full-year earnings.

“This pleasing rise in earnings was achieved because we were able to rectify – although not completely – problems that impacted on the first half,” said group managing director Keith Rivers.

Pre-tax profit (for the year to 30 June) increased 15.5 per cent to Rs 101.3-million (£6.9 million), while attributable profit was up by almost Rs 10 million to Rs 73.7 million (£5.04 million). In lieu of an annual dividend, the company is making a capital distribution of Rs 0.49 (£0.03) a share.

7th September 2007/by Tyrepress Editors

Extra Light Wheel From Carlsson

Career Tracks, Product News

Carlsson wheels have always had a good reputation in the Mercedes tuning sector and the company’s latest product – the 1/11 Evo Brilliant Edition (BE) looks set to enhance this even further. Based on the successful 1/11 BE wheel, the new 22″ wheel has been developed for use on Mercedes ML, R and G class vehicles.

As well as visual impact, the 1/11 Evo BE offers greater ride comfort and considerable weight saving, says Carlsson. The distribution of the 11 spokes means that the forces acting on the wheel are transferred to the centre of the wheel, thus making thick walls unnecessary and saving weight. Grooves in the spokes save even more weight, with the result that the 1/11 Evo BE weighs 20.3 kg – over 3 kg lighter than comparable, one-piece cast aluminium wheels, with no reduction in strength.

30th August 2007/by Tyrepress Editors

Twenty-One and Still Growing

In 2006 Summit celebrated 20 years in business at Coventry. And after two decades the company is continuing to expand, with 2007 marking the opening of another depot in East Anglia. This new facility is expected to further improve the level of service Summit provides customers in the region.

Summit was founded in 1986 by Peter Summers, a man who had already spent the majority of his career in the tyre industry. Seeking a location at the heart of the country, Summers selected Coventry as the site for his new firm. The business specialised in industrial tyres and wheels to the fork truck and skid steer replacement and original equipment markets. Operating in a niche market, Summit quickly established itself as a leader in its field for product and advice in this specialist area. Furthermore, Summit ensured that it held stock of products that other wholesalers and distributors didn’t, thus building a reputation that is still enjoyed today – if the tyre or application is unusual, the likelihood is that Summit has got it.

30th August 2007/by Tyrepress Editors

Toyo Tires – Stay in Charge, Whatever the Weather

Whether it’s the wrong kind of leaves on the line, frozen pipes or frosted locks, traditionally us Brits have never prepared well for winter… and it shows. As the sage advice goes, there’s no such thing as bad weather, just the wrong clothing. And whilst no sane person would brave the winter months in their summer shoes, we somehow expect our cars to.

The safety-conscious Scandinavians have it sussed. With many countries enforcing fitment of winter tyres in appropriate months, the accident figures, or rather lack of them, speak for themselves. We’ve all seen cars beached by the roadside or sliding helplessly along a poorly cleared road. Often with inevitable and expensive results. Whilst a decent set of winter tyres may tax the pocket a little, it’s small beer compared to a lost day’s work, your insurance excess – and resulting premium hike – or worse! Many fatal accidents occurring in winter could have been wholly avoidable had the vehicle in question had the right tyres fitted. Putting a price on safety really is the worst kind of false economy.

28th August 2007/by Tyrepress Editors

Several Companies Show Interest in Ailing ATS Plant

A number of companies have cast a hungry eye upon the factory owned by ATS Light Alloy Wheels South Africa a month after the company was placed in provisional liquidation. One of the joint liquidators, Alan Pellow, said that about six companies had already inspected the plant and “some people in the US want to have a look.”

The liquidators say they are striving to find a buyer who we take on the factory as a going concern, however this happy outcome is by no means certain. “We are waiting for the final valuations for the plant and will then probably send out an information pack worldwide and see what we can bring in,” Pellow added.

ATS Light Alloy Wheels South Africa is a wholly owned subsidiary of Tiger Wheels’ 74 per cent owned German unit ATS Beteiligungs. In addition to the South African facility, ATS also operates alloy wheel manufacturing plants in Germany, Poland and the US. Directors and senior management at the South African plant applied for liquidation of the company due to ongoing cash flow problems, and the decision as to if or when liquidation is finalised is dependent on a high court decision.

28th August 2007/by Tyrepress Editors

Goodyear OE for New Toyota and Mercedes

Goodyear has added another two feathers to its OE cap following the selection of its Excellence tyre range as standard equipment on two new UK vehicle launches. Toyota and Mercedes have both approved the tyre on their respective highest-volume models, the Auris and the C-Class.

The Toyota Auris replaces the Corolla, for many years the world’s best selling car, and Goodyear Excellence will be fitted as standard on models delivered with 15-inch wheels. The latest Mercedes C-Class, new for Summer 2007, will wear Goodyear Excellence in 225/45R17 and 245/40R17 sizes on those cars fitted with its popular 17-inch alloy wheel option.

The Goodyear Excellence was launched two years ago, and its asymmetric tread design combines sure footed wet weather grip with high levels of comfort. Goodyear says that the Excellence is particularly popular with OEMs seeking to reduce vehicle road noise, a reported strong point for the tyre.

22nd August 2007/by Tyrepress Editors

Eurostone from NDI –Tyres for Wet or Dry Winters

Nordisk Dæk Import AS (NDI) is a major supplier of tyres and wheels to European markets. The Danish company was established in 1970 and today its headquarters in the town of Brørup occupy more than 56,000 square metres of office and warehouse space. The company boasts a sizeable presence in its home market of Denmark – throughout the country NDI also operates nine strategically located branches and 50 company owned “Super Dæk Service” retail outlets, employing a total of approximately 750 people.

The company also produces wheels to order for industrial and agricultural applications, specialising in adapting rims to individual customer’s requirements. A third related field in which NDI operates is retreading. The company’s retreading subsidiary, Euroband, is Denmark’s largest manufacturer of retreaded tyres for trucks, buses, tractors and earthmovers. The Euroband facility is also located in Brørup.

17th August 2007/by Tyrepress Editors

Goodyear Seeks Silver Anniversary Highway Hero

(Akron/Tire Review) Goodyear Tire & Rubber Co. is now accepting nominations for its annual Highway Hero Awards – the 25th straight year the tyremaker will recognise the heroic actions of a North American truck driver. Nominations will be accepted through November 30.

To be considered for the award, the nominated driver must be a full-time truck driver; must be a resident of the U.S. or Canada; the incident recognised must have occurred in the U.S. or Canada; the nominee must have been on the job; and the nominee must drive a truck with 14 or more wheels. The incident being nominated must have occurred between November 16, 2006 and November 15, 2007.

“We’re hearing about the brave men and women who make our highways safer and drive our economy,” said Steve McClellan, vice president for Goodyear commercial tyre systems. ”They truly are America’s unsung heroes, and we want to honor them.”

Nomination forms and program details may be obtained by calling the Goodyear Highway Hero Hotline at 330-796-8183. Nomination forms are also available at www.goodyear.com/truck/whatsnew/hero.

16th August 2007/by Tyrepress Editors

Yokohama HPT Partners With MK Dons Football Team

The UK distributor for Yokohama tyres and TSW, MAK plus a range of marque-specific replacement alloy wheels, Yokohama HPT Ltd, has become a partner to the Milton Keynes-based football team, the MK Dons. The partnership will see Yokohama logos displayed at the MK Dons’ brand new 31,000-seat stadium in Milton Keynes and will allow Yokohama HPT to support the team from its own box at the stadium during home games.

The MK Dons are eagerly anticipating the start of the new football season this weekend and with it, the commissioning of the brand-new multi-million pound StadiumMK. Situated within strolling distance of the Yokohama HPT offices, thus the relationship between the team and the company is a logical one, and reflects Yokohama HPT’s commitment to the local community.

The MK Dons are currently situated in the Second Division but a series of high-profile additions to the team structure over the winter have strengthened its chances of gaining promotion this season. The former Manchester United and Liverpool player and England captain, Paul Ince, has joined as Manager and brings with him a wealth of experience of top level football, both in the UK and abroad.

13th August 2007/by Tyrepress Editors

Stamford Tyres: Quality Products For A Global Market

Having enjoyed very successful shows recently at Tyrexpo Africa 2006 and Autopromotec in Italy with their European trading division – Sumo Firenza. Stamford Tyres prepare for Tyrexpo Asia 2007 in their home-base of Singapore with justified optimism.

The company’s primary objective at the show will be to promote the benefits of the Sumo Firenza tyre ranges as well as its wheel division – Stamford Sport Wheels (SSW). There will be an extensive selection of products on display including the Sumo Firenza ultra high performance and truck ranges and high quality aluminium wheel designs.

The Sumo Firenza range is manufactured in China incorporating Japanese state-of-the-art-technology and both the high performance and truck tyres are expected to arouse a lot of interest among visitors. The Sumo Firenza ST-08 high performance pattern offers a number of features including twin wide grooves to combat aquaplaning, tapered groove walls for improved overall grip as well as a silica-based compound to further enhance grip on wet roads.

Pat Berriman, Vice President for Sales and Marketing states, “We are confident of being able to maintain a premium above most other Chinese tyres and as visitors to the stand will discover, you only have to inspect the ST-08 to appreciate its sheer quality and durability.”

13th August 2007/by Tyrepress Editors

Quarter Profits up at Superior Industries

OE alloy wheel supplier Superior Industries International announced their financial results for the second quarter of this year on August 9, figures that show a solid increase in unit wheel shipments, net sales, gross margin and pre-tax income from continuing operations compared to the second quarter of 2006.

“The benefits of our hard work during the past several years to improve productivity, reduce costs, and position Superior for success as a truly global company are becoming increasingly evident in our financial performance,” said chairman, president and CEO Steven Borick.

For the three months ended June 30, 2007, net sales increased 16.1 per cent to US$255,217,000 compared to $219,880,000 for the second quarter of 2006, driven by a 3.7 per cent increase in unit wheel shipments, a higher percentage of large-diameter wheels in the sales mix than in the prior year, and higher pass-through aluminium costs in selling prices.

10th August 2007/by Tyrepress Editors

£35,000 Bedfordshire Tyre & Wheel Haul

Thieves stole over £35,000 of tyres and wheels from a Bedfordshire warehouse last week. According to a report on the NTDA website, the haul includes over 150 top-of-the-range alloy wheels and a selection of high performance Yokohama tyres of all sizes including the Geolander light truck range plus over 40 Z-rated performance tyres. Anyone dealers who think they have been offered any of the stolen stock should contact the NTDA for a complete list of the stolen items.

8th August 2007/by Tyrepress Editors

Yokohama Advan Sport OE for 3 AMG Models

The world-renowned official Mercedes Benz tuner, Mercedes AMG, has selected Yokohama’s Advan sport tyres for OE on three models – the CL 63 AMG, CL 65 AMG and ML 63 AMG. The CL 63 AMG and CL 65 AMG will ship with the Advan Sport V103 with 255/35ZR20 XL (Extra Load) size fitted the front and 275/35ZR20 XL for the rear. The 4×4 ML 63 AMG will come wearing the Advan Sport V103A, with 295/40ZR20 106Y size rubber fitted to both front and rear wheels.

Yokohama state they are proud to have met the high technical standards set out in the process of development with Mercedes AMG and are confident the selected tyres meet the AMG requirements of high-speed stability, comfort, handling and braking in wet and dry conditions. “MO” (Mercedes Original), which indicates approval of the tyre by Mercedes-Benz, is stamped on each one.

3rd August 2007/by Tyrepress Editors

Changers, Balancers and More

It remains business as usual for Nottingham based leading automotive and service equipment specialists Beissbarth following the company’s acquisition by Bosch in April, and the established Beissbarth range of products continue to find favour with UK customers.

Introduced in 2006, the company’s latest addition to their tyre changing line up is the MS67 tyre changer for low profile, run-flat tyres and wide rims, and Beissbarth say this is a unit that offers safe and simple tyre changing, even for the most difficult tyre rim combinations. The Servomat MS67 tyre changer has been designed to meet our ubiquitous health and safety regulations while providing a fast and efficient service for technicians and customers.

“Tyre changing is no longer a simple operation. A bit more care and attention is involved,” commented a member of the Beissbarth team that Tyres & Accessories spoke to. Those involved in the business will be well and truly aware of this; many changes, both in terms of tyre technology and official legislation, have impacted the tyre industry. With Health and Safety taking an increasingly humourless approach to the lifting of heavy objects in the workplace, a key safety feature built into the MS67 is a definite bonus. The unit comes equipped with a pneumatic lift that raises the tyre onto the table without the fitter having to lift the heavy wheel and tyre assembly. This ensures that the manual handling of tyre and wheel assemblies is kept to a minimum.

1st August 2007/by Tyrepress Editors