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Tiwheel Results Show Headline Loss

South African alloy wheel maker Tiwheel (Tiger Wheels Limited), majority shareholder in ATS Light Alloy Wheels, have reported £0.085 in headline loss per share for the interim six month period ending December compared with headline earnings per share of £0.046 the same time last year. The company’s revenue grew from 1.17 billion rand (£77.8 million) to 1.60 billion rand (£111.4 million) while 30.3 million rand (£2.1 million) was reported in operating loss compared with 8.6 million rand (£598,700).

Tiwheel has described the results as ‘disappointing’ and attributed them mainly to an accumulation of problems at its Kentucky, USA, facility. The problems referred to occurred at the Kentucky plant in November and December 2006 and according to the group were caused by a combination of management mistakes and market circumstances.

16th March 2007/by Tyrepress Editors

Ford to Recall US Police Cars

(Akron/Tire Review) The Ford Motor Co. plans to recall more than 109,000 Crown Victoria police cars due to cracks that can develop in the steel wheels that could cause rapid air loss in tyres during high-speed pursuits. The recall affects certain 2003-2005 models. According to the NHTSA, the cracks can form near the weld line that connects the rim to the wheel disk. The stress on wheels during pursuits is much greater than during normal driving because of police techniques, Ford stated.

Ford added that the cracks have been reported in a small percentage of the wheels, which had been covered by an extended warranty program. Dan Jarvis, a spokesman for Ford, said police departments have reported two crashes that they attributed to the wheel problem, but Ford is disputing the claims. No injuries were associated with the two crashes.

14th March 2007/by Tyrepress Editors

Sunny Days

(Akron/Tire Review) Mexico and Kumho Tire U.S.A. have become rather synonymous. For the past several years, the tyremaker has chosen Cancun or Puerto Vallarta as destinations of choice for its annual dealer meeting. This year’s meeting, held Jan. 5-9 in Cancun, was another successful event at a pleasant resort setting.

This time, Kumho added a minor twist to the festivities: dealers got to meet the newly installed CEO and president of Kumho Tire North America B.K. Kim. Don Hun Ham, recently named president of Kumho Tire U.S.A., was unable to attend.

Also on hand were Dave Hudrlik, vice president of sales and marketing; Mike Leverington, director of marketing; Kelvin Oh, general manager and sales coordinator; and Rick Brennan, brand director, all of whom spoke to dealers about the company’s 2006 accomplishments and its plans for 2007.

Parent company Kumho Tire Co. is currently ranked 10th among tyre manufacturers worldwide, with revenue of $1.6 billion in 2006. In the U.S. alone, Kumho has gone from just under $100 million in sales in 1997 to $465 million in revenue in 2006 and is aiming for what it feels is a reachable target of $610 million for 2007. In terms of tyres, Kumho hopes to reach 9.3 million units in the U.S. for 2007, according to the management team.

14th March 2007/by Tyrepress Editors

General Tire Sales Could Grow 10 per cent in 2007

Distributed exclusively in England, Scotland and Wales by the UK’s leading 4×4 tyre wholesaler (Micheldever/Southam Tyres), the General brand is reportedly the fastest growing 4×4 range in the UK market. According to Alan Baldwin, Micheldever’s sales director and 4×4 specialist, General’s awareness of the market and desire to produce products that consumers want, will result in an increase in market share of about 10 per cent in 2007. General Tire, a wholly owned subsidiary of Continental Tyre AG, is the specialist arm of the well-known German premium tyre manufacturer.

14th March 2007/by Tyrepress Editors

Borbet acquires Remaining Share in South African Subsidiary

In December 2006 the South African engineering and construction group Murray & Roberts announced that it wished to dispose of its 50 per cent share in alloy wheel manufacturer Borbet South Africa, based in Port Elizabeth. Now the recently released business half-year financial report for Murray and Roberts, ending December 31, 2006 indicates that the German Borbet Group has since this time itself acquired Murray & Roberts’ share.

The 50 per cent parcel was the remaining portion of the former alloy wheel company Alloy Wheels International. The Borbet Group purchased a 50 per cent share in the South African company on July 1, 2003 and took over management of the company.

14th March 2007/by Tyrepress Editors

Hayes Lemmerz Subsidiary Expanding in India

Hayes Lemmerz International, Inc. has strengthened its market position in India and bolstered export capabilities following the completion of expansion work on its Indian subsidiary’s steel wheel production facility. The Kalyani Lemmerz Limited factory is located in the city of Pune, approximately 100 miles from Mumbai, and following recent expansion work it possesses an annual capacity of 800,000 units. Kalyani Lemmerz intends to add a further 200,000 units of capacity during 2007 through an additional US$10 million investment.

14th March 2007/by Tyrepress Editors

Two Life Sentences for Thompson Killer

A judge has sentenced Michael Goodwin, convicted of murdering and Trudy Thompson, to two consecutive life terms. A jury convicted Goodwin of two counts of murder on January 4.

9th March 2007/by Tyrepress Editors

Hayes Lemmerz to Formalise Russian JV

Hayes Lemmerz International Inc plans to transform its technical alliance for the licenced manufacture of passenger car steel wheels in Russia into a formal joint venture over the next couple of years.

7th March 2007/by Tyrepress Editors

Alloy Wheel Repair System Proving Popular

Yorkshire based manufacturer of smart repair systems, Ayce Systems, states that the company’s new all-in-one alloy wheel repair kit has experienced dramatic sales growth since its introduction last year. Known as Wheelrite Pro, the system is a self-contained unit for repairing and polishing kerbed, scratched and corroded alloy wheels, and features pneumatic self-centring on a rotary turntable, an integral beadbreaker, tyre inflation and pressure gauge and independent drive for grinding and polishing wheels.

6th March 2007/by Tyrepress Editors

Rubber 2007 Hosted by Expocenter of Ukraine

Between 31 October and 3 November 2007, Ukraine’s national Expocenter will play host to Rubber 2007, the 9th National Specialized Exhibition with foreign participation. The event, which is supported by the Ministry of Industrial Policy of Ukraine and the Union of Chemists of Ukraine will cover a diverse range of topics including:

6th March 2007/by Tyrepress Editors

Kumho OE for US Market Sprinter

Kumho Tire has announced the supply of their products as OE on the US market version of the Sprinter van. The Sprinter, which sports the Mercedes-Benz badge in UK and European markets, will go on sale in the US under the Dodge and Freightliner brand names in the first quarter of 2007.

5th March 2007/by Tyrepress Editors

Marshal Tyres Offer 4-year Warranty in UAE and Iran

The exclusive distributor of Marshal tyres in the UAE and Iran, Varga Trading co. LLC has announced that it will be providing a 4-year warranty. “Most people in this region are shocked to hear that our tyres have such a long-term warranty, our tyres are of the highest quality and we are convinced that they can out-perform many of the very expensive brands. The stated four-year warranty is a message of confidence to end-users about the quality of Marshal tyres and a message to our dealers that we are committed to providing them with superb after sales services,” said Varga’s VP, Alireza Moaref.

2nd March 2007/by Tyrepress Editors

Titan Releases Q4 Figures

Titan has released their fourth quarter 2006 results, and these show a US$69 million, or 71 per cent, increase in net sales for the quarter. Total net sales in this period reached $165.6 million. And during the quarter, in December, Titan completed a $200 million senior unsecured five-year bond offering due January 2012.

1st March 2007/by Tyrepress Editors

Auto Parts Maker Announces Closure

The bankrupt US automotive parts manufacturer Delphi Corp. announced on February 22 that it plans to close its Puerto Real factory in Cadiz, southern Spain. A union representing employees at the plant has stated that as many as 1,650 workers will be affected by this closure.

28th February 2007/by Tyrepress Editors

BFGoodrich Launches New AT Sizes

BFGoodrich has announced that its award winning All-Terrain (AT) tyre will now be available in a wider range of sizes. The additional sizes will begin to become available from March 2007 and have been designed to meet the demand to fit a wider range of 4×4 vehicles.

23rd February 2007/by Tyrepress Editors