ChemChina (China National Chemical Corp) has gained European Union antitrust approval for Pirelli takeover. According to a Reuters report, the completed transaction would give the combined company a 10 per cent market share. As a result, ChemChina unit China National Tire & Rubber is now expected to go ahead with plans to set up a joint venture to acquire a 26.2 per cent stake from Italian holding firm Camfin and then make a mandatory takeover bid for the rest of Pirelli.
On Tuesday 30 June, Road Haulage Association chief executive Richard Burnett made the trip to Calais to witness for himself the "appalling conditions" under which UK hauliers are currently operating. “This action will have a massive effect on the UK economy as a whole and is putting the livelihood and lives of hundreds of hauliers at risk”, said Richard Burnett.
Rubber Asia has announced it will honour “those who have made outstanding contributions to the rubber industry” at the Asian Latex Conference (ALC) 2015 and India Rubber Summit & Dinner (IRSD) 2015. The two events are organised on consecutive days on 10, 11 (ALC), and 12 (IRSD) September in Kochi, India.
With form, fitness and all manner of other factors to consider, sponsoring an emerging sports star is never an easy task. Yet Bridgestone is positive its decision to back four blossoming motocross stars is paying off. Rob Yates (17) and Jack Timms (20) are currently first and second in the Bridgestone-sponsored British Schoolboy Motorcycle Association (BSMA) Clubman’s Series. The tyre manufacturer says their outstanding performances are currently turning heads as the season reaches its halfway stage, vindicating the decision to single them out in a strong field.
Mexican carrier Morgan Express says ti achieved reductions by retreading over 800 tyres from its fleet with Vipal materials. Morgan has over 40 years of experience in the logistics markets, with facilities in five Mexican cities (Guadalajara, Monterrey, Nuevo Laredo, Veracruz, and Mexico City). The company, which has a fleet of around 150 vehicles, retreaded over 800 heavy duty tyres in 2014, using Vipal’s VEL B and V167 B treads.
Milltek Sport has released a new stainless steel exhaust system for BMW’s popular F32 428 model. The manufacturer says the system balances looks, power and soundtrack in one package, with variations for manual and automatic cars with and without tow bar setups.
Michelin communications head, Michael Küster will take on additional responsibility for commercial vehicle tyres and the Travel Publishing Group public relations on 1 July. Küster was previously head of product and motorsport communications with responsibility for Germany, Austria and Switzerland (DACH region). Nina Grigoleit, who previously supervised these areas, will take on other duties within the company.
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.