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TYRE INDUSTRY NEWS

Pirelli Tyre Earnings Up In Q3 - 11 November, 2009

Pirelli Tyre reported measurable gains in operating and net income in the third quarter, as sales almost equalled those of the previous 2008 period. Pre-tax operating income before restructuring charges jumped nearly 55 percent to $207.3 million as sales hit $1.52 billion. Net income more than quintupled to $52.6 million.

Pirelli attributed the earnings improvement to a decline in raw materials costs, the focus on price and mix, actions for greater competitiveness and a recovery in the market, accompanied by sales growth at higher rates than the market in all areas.Revenues for the nine months ended September 30th 2009 amounted to $4.32 billion, down 4.5 percent from the 2008 period. Pre-tax operating income for the year to date was up 1.2 percent to $558.8 million, improving the profit ratio a full point to 12.9 percent.

Pirelli reported sales in its consumer business rose 3.1 percent to $1.07 billion on improved replacement market demand and smaller-than-expected declines in OE sales. Sales for the nine-month period were down 4.5 percent to $3.08 billion. Industrial business sales fell 12.2 percent in the quarter to $447.7 million and 16.7 percent for the year to date to $1.24 billion.

 

BF Goodrich Launches New 4x4 Tyre - 11 November, 2009

Manufacturer of premium brand four-wheel drive tyres, BF Goodrich has officially launched its new tyre for serious off-road enthusiasts in the UK, the Mud-Terrain T/A KM2. Aimed mostly at the specific mud-terrain market, the tyre is designed for a ratio of 20:80 (on-road:off-road) usage and replaces BF Goodrich’s previous Mud-Terrain T/A tyre. It is already available in a wide range of 15 to 17 inch sizes, with more planned for 2010 and many exciting new conversion options.

 

Michelin Announces New Slogan - 28 October, 2009

Michelin, one of world's most renowned tyre manufacturers, recently launched its very first gloabl advertising campaign with a brand new slogan stating 'The Right Tyre Changes Everything'.

When asked for the reasoning behind the new slogan, a representative replied that it is a response to today's increasingly competitive business environment. It has also been developed to educate purchasers and car enthusiasts of the advantages of buying Michelin tyres and products.

With perfected features, such as enhanced break power and better fuel efficiency, the Michelin team suggest that selecting the right tyre can provide you with the safest, most economical solution. The new campaign displays an animated world, featuring the popular 'Bibendum' - Michelin's mascot.

Michelin's campaign will spread over American television and internet on October the 7th 2009, and move forward to more than 55 countries world wide thereafter. Keep a lookout for this fanastic new campaign, and give the Tyre Professionals a call today for you Michelin tyre requirements.

 

Bridgestone Looking To End Manufacture In Australia & NZ - 25 October, 2009

Bridgestone have announced that they will been closing two manufacturing plants in Adelaide and Christchurch, claiming that it is no longer viable to continue manufacture of Bridgestone tyres in Australia and NZ.

The Christchurch plant will be closed by the end of 2009, whilst the Adelaide plant will remain open until the end of 2010. The closure in Adelaide is expecting to effect 600 South Austraian workers, and 275 workers for the closure in Christchurch, NZ. Fortunately, the 1500 workers in the Oceanic distribution, customer service and retail outlets will not be affected by the closures.

Please call Tyre Professionals to speak to one of our friendly team about aquiring Bridgestone tyres today.

 

Goodyear Reports Improvement In Q3 - 23 October, 2009

Tyremaker Goodyear has locked in an operating income of US $275 million for the third quarter of 2009 - up from $266 million one year ago and a fractional $24 million in 2009's second quarter.

The company commented that "Compared to the prior year, the third quarter of the 2009 segment operating income reflects continued weak industry demand, which resulted in a negative volume impact of $64 million and under-absorbed fixed costs of approximately $107 million. The 2009 quarter benefited from $207 million in lower raw material costs."

Goodyear's third quarter net income was $72 million, which was up from $31 million in 2008. The company reported large net losses of $221 million in the second quarter of 2009 and $333 million in the first.

Q3 sales were at $4.4 billion, down 15% from 2008's third quarter however up 11% from Q2 2009. Goodyear stated that Q3 sales reflected the $276 million impact of a 7% decline in tyre unit volume, this due to lower industry demand as well as a $279 million reduction in sales in other tyre-related businesses.

 


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