Following the news that China National Tire & Rubber Co. (CNRC), a subsidiary of China National Chemical Corporation (ChemChina), entered into a binding agreement with Edizione with respect to the purchase of 1.574 per cent of the share capital of Pirelli on 13 April, company representatives have issued a clarification that these shares are held indirectly.
Michelin solutions used the Commercial Vehicle Show 2015 to launch what it calls “a new pan-European value-creation offer for road transport fleets”. In other words, this means the firm is offering price per kilometre (PPK) tyre management contracts with a contractual fuel saving commitment, for the first time. Michelin solutions calls this – ‘Effitires with fuel commitment’ and it is designed to make both hauliers’ and own-account operators’ fleets more efficient by combining outsourced tyre procurement and expert tyre management with a commitment to saving fuel.
Demand for new passenger cars in the European Union rose 10.6 per cent year-on-year in March 2015, with the ACEA, or European Automobile Manufacturers Association, reporting a total of 1,604,107 cars registered. This is the 19th consecutive month of growth, and it is a trend fuelled by all major markets – particularly Spain, where new passenger car registrations jumped 40.5 per cent to 112,299 units. Italy also enjoyed double-digit growth and recorded 161,303 new passenger car registrations in March, 15.1 per cent more than a year earlier. The greatest number of new registrations during the month took place in the UK, where 492,774 new passenger cars were registered, a 6.8 per cent increase on March 2014.
Success is always sexy. No wonder, therefore, that after finishing tenth in their debut appearance in 2013 and fifth last year, suspension expert BILSTEIN and the Aston Martin Racing works team are planning to join forces again for the 43rd edition of the ADAC Zurich 24-hour race at the Nürburgring (14 to 17 May 2015). Unlike the last two years though, the blue and yellow Aston Martin V12 Vantage GT3 with the new BILSTEIN 4-way MDS motorsport suspension is targeting overall victory this time around.
Apollo Tyres inaugurated its third Apollo Retread Zone (ARZ) in Mumbai, in the western part of India. Rajesh Dahiya, Group Head, Sales-APMEA (Asia Pacific, Middle East & Africa), Apollo Tyres Ltd inaugurated the outlet in Turbhe, Navi Mumbai. With the objective of providing quality retreading service to truck-bus customers and fleet owners, these branded outlets are equipped with most advanced retreading machines, high quality tread material and trained workers. The move demonstrates
Contract tyre producer and manufacturer of the Rotalla brand, Enjoy Tyre, is bringing extending the Routeway tyre range it offers in the UK and Europe beyond the TBR range already available here. The new first lines destined for our shores include seven passenger car patterns, including UHP, SUV, winter and van/light commercial tyres, and Enjoy Tyre says these are now available for new orders.
Dieter Köppner, managing director of Nokian Tyres Central Europe since 2007, has announced his intention to retire this year. Sharing the news with Tyres & Accessories, the 62 year old said that to ensure a smooth transition he is already working alongside his successor, Hannu Liitsola, at the tyre maker’s Central European headquarters in Prague.
In case you haven’t heard, as much as 65 per cent of Pirelli is in the process of being sold to ChemChina. It’s a complex plan and there’s a long road ahead, but the deal has been done and so takeover wheels are in motion (see page 28 for complete coverage of this part of the story). So what’s next? The deal can’t fail to have an impact at Pirelli, but what about the other top five tyre manufacturers and beyond? We hinted at market consolidation in this column last month, with reference to restructuring proceedings at Shandong Deruibao Tire Co., Ltd and possible contagion in China; and Pirelli CEO Marco Tronchetti Provera made the market aware of that he was planning to sell his stake within two years in January 2014. But few would have named this particular bidder and this particular timing. Now we are faced with the possibility, even the likelihood that the Pirelli/ChemChina deal is going to precipitate further micro and macro consolidation within the tyre market - even a re-shuffle of the tyre industry's top 10.