Vehicle leasing specialist Arval has signed a Memorandum of Understanding with GE Capital to acquire the latter’s European fleet management business. The scope of this acquisition covers more than 160,000 vehicles in 12 European countries, of which France, Germany and the UK represent more than three quarters; vehicle assets amount to €2.4bn as of Q1 2015. Parent company BNP Paribas states that the transaction will “significantly reinforce” Arval’s leading market position in Europe.
BEN, the automotive industry charity is extremely proud of their dedicated London to Paris 24 participants who cycled the 240 mile journey in less than 24 hours. So far, the team have raised over £25,500 for BEN with funds still coming in.
The UK's plug-in vehicle sector is already experiencing record levels of demand in 2015 and the finale of the Formula E season in London could accelerate this trend. With thousands of spectators watching the races, plus millions more watching the event across the world, electric vehicle campaign Go Ultra Low anticipates a boost to plug-in car enquiries and registration figures.
Following its launch at the IAA Show in Hannover in October 2014, Vacu-Lug, the sole UK distributor for all Westlake truck and bus radial tyres, has launched the range in the UK. According to the company, the Westlake range offers a choice of 17.5”, 19.5” and 22.5” rim diameters and consists of four applications: Long Haul, Regional, Mixed Service and Max Load.
A new “snow specialist” has been added to the Hankook truck tyre portfolio. The SmartControl DW07 drive axle winter tyre has been released in three key sizes – 315/80 R22.5, 315/70 R22.5 and 295/80 R22.5 – and Hankook Tire is preparing to expand the range with additional sizes.
Following the retirement of Dan Guiney, Tom Kenny has taken over as Yokohama Tire Corporation’s director of technical service. He joins the company from Hankook Tire, where he served in a variety of roles for some 22 years, most recently as vice-president of technical. Previous industry experience also includes positions at Cooper Tire and Continental.
A couple of months ago we discussed the “restructuring” of relatively large and modern Chinese manufacturer Deruibao Tire. Back then, Qingdao Doublestar was top of the list of firms connected with an acquisition/cooperation/merger rescue orchestrated by the local government. A month later government-owned ChemChina announced that it was buying Pirelli. This latter point has been covered in some depth in the pages of Tyres & Accessories, especially in our April edition. The Pirelli/ChemChina story will no-doubt garner more attention as the very complex outworkings of the deal are walked out, but what remains of interest is the way in which both the local Chinese market and the global industry are engaged in a period of both parallel and inter-connected consolidation.