Yokohama hiking tire prices Jan. 1
FULLERTON, Calif.-Yokohama Tire Corp. will increase prices by up to 6 percent across the board on its Yokohama brand as well as associate and private brand consumer tires, effective Jan. 1.
The Fullerton-based tire maker said additional in-line adjustments will be made, with detailed pricing to be provided to dealers prior to the actual increases.
Among reasons cited for the hikes were the continued escalation of petroleum-derived material costs and freight cost increases.
Goodyear, TIA join on certification
AKRON-Goodyear and the Tire Industry Association (TIA) have joined forces to offer certified tire technician training.
The collaboration-an industry first between a maker and a tire dealer association-includes two one-day seminars in 48 cities next year. Tire technicians from the Goodyear, Dunlop and Kelly dealer network, as well as Wingfoot Commercial Tire Centers, are eligible for the Goodyear/TIA joint certification.
Steve McClellan, Goodyear's vice president of commercial tire systems, said the customized training combines TIA's commercial tire service program and Goodyear's hands-on experience. He added that Goodyear seeks to improve its service business revenue through the partnership with TIA.
Al Cohn, manager of strategic initiatives for Goodyear's commercial tire systems, said dealer training is a major initiative and noted the course exceeds safety training requirements set by the Occupational Safety and Health Administration (OSHA).
Yokohama revises sales forecast
TOKYO-Yokohama Rubber Co. Ltd. is revising upward its earnings and sales forecast for the half-year ended Sept. 30, based on increased overseas tire sales and a profit improvement in North America.
Yokohama now expects to report net income of $115.9 million and sales of $1.77 billion, 8.3- and 2.3-percent increases, respectively, over the earlier projection disclosed in August.
The updated projections represent a sales increase of 5.4 percent and an 18-fold improvement in net earnings over the first half fiscal 2005 figures.
Michelin reports higher Q3 sales
PARIS-Group Michelin's sales in the third quarter grew 4.5 percent over the 2004 period, but the firm does not expect ``significant market improvements'' in the fourth quarter.
For the third quarter, Michelin reported sales of $4.68 billion. Sales through nine months rose 1.8 percent to $13.7 billion. Michelin did not report earnings at this time.
The company is adjusting production levels to match conditions and is now saying operating performance will be equal to that of 2004, whereas earlier the company had forecast an improvement.
Under the current circumstances and barring any further deterioration of markets in the final quarter, Michelin expects its operating performance will be at least as good as last year's, when it had a pre-tax operating profits/sales ratio of 8 percent.
Titan 3Q sales, earnings down
QUINCY, Ill.-Tire and wheel maker Titan International Inc. posted net earnings of $1.18 million on net sales of $102.7 million in the third quarter, down from income of $1.48 million on sales of $116.5 million reported in the same period of 2004.
Titan's largest segment, its agricultural business, made up $64.6 million, or 62.9 percent, of sales for the quarter, though sales fell 8.3 percent from the same period in 2004. Titan's earthmoving/construction and consumer segments made up $31.3 million (30.5 percent) and $6.81 million (6.6 percent) of the firm's sales, respectively.
Through nine months of 2005, Titan posted net earnings of $16.6 million, a 33.7-percent jump from 2004. Sales for the year decreased 7.7 percent to $373.6 million.
SRI develops eco-friendly tire
TOKYO-Sumitomo Rubber Industries (SRI) Ltd. has developed an environmentally friendly tire that reduces the use of petroleum-based materials by nearly 60 percent and cuts rolling resistance 30 percent.
Marketed in Japan by Sumitomo's Dunlop Falken Tyres Ltd. unit, the Enasave ES801 replaces a large percentage of the synthetic rubber with epoxidized natural rubber (NR), the carbon black with silica, petroleum-based processing oils with vegetable-based ones and the synthetic casing fibers with vegetable fiber-based materials.
SRI, which launched the tire at the Tokyo Motor Show, said these changes have reduced the tire's makeup to 30 percent petroleum-based materials from 56 percent.
The Tokyo-based tire maker claims silica-reinforced epoxidized NR cuts the tire's rolling resistance 30 percent vs. its conventional tires.
The tire will come in three sizes and be sold in the Japanese replacement market.