Nizhnekamskshina Increases Six-month Production to 6.974 Million Tyres
(Clacton, U.K./Tyres & Accessories) Between January and July 2006, Nizhnekamskshina OJSC increased tyre production by 13.5%, compared with the same period of last year to 6.974 million tyres.
Making the Most of the Internet
(Clacton, U.K./Tyres & Accessories) Online retailing has come of age, and U.K. consumers are leading the way.
Auto Parts Makers Lose Ground
(Akron/Tire Review – Wall Street Journal/Detroit News) Despite breathless anticipation over automaker alliances, stock and bond investors still see much of the U.S. car business as a sputtering jalopy.
Banks Abandon Pirelli IPO at Last Minute
(Clacton, U.K./Tyres & Accessories) Banks advising Pirelli Tyre on its initial public offering withdrew the company from floatation at the last minute on June 30.
Stamford Tyres Expands Product Lines, Wheel Capacity, Territory
(Clacton, U.K./Tyres & Accessories) On the back of record net profits of 15.6 million Singapore dollars, Stamford Tyres plans to further strengthen its position through European expansion plans.
Amtel-Vredestein Holds Annual Shareholder Meeting
(Akron/Tire Review) Amtel-Vredestein N.V. held its 2006 annual shareholder meeting on June 26 in Amsterdam, and reaffirmed the top management of the Moscow-based tiremaker.
Pirelli Tyre IPO Set For June 21-30
(Akron/Tire Review) Pirelli SpA has obtained clearance from the market regulator Consob for the initial public offering of its Pirelli Tyre SpA unit, which will run June 21-30.
Michelin Credit Rating Put on CreditWatch by S&P
(Akron/Tire Review) AFX reports out of London say that Standard & Poor’s Ratings Services has placed its BBB+ long-term corporate credit rating on Groupe Michelin, citing concerns over the tiremaker’s profitability.
Pirelli Submits Official Request for Tire Unit IPO
(Akron/Tire Review) Pirelli SpA has submitted an official request to the Milan stock exchange for permission to list its tire unit in an initial public offering.
Blackcircles Opens First Garage in Franchised Network
(Clacton, U.K./Tyres & Accessories) Village Motor Co. in Wallasey has become the first member of Blackcircles’ franchised dealer network.