Schaeffler, the family-run ball-bearing maker and largest shareholder in Continental AG, is reportedly considering a multi-billion euro IPO for its ball-bearing business in what could be a prelude to a further purchase of Conti shares. The Wall Street Journal (WSJ) has led coverage of the recent financial manoeuvres between Conti and Schaeffler, however financial analysts and other commentators lend credence to the view that purchasing Conti stock could be the endgame.
At the end of 2014 Maxxis, in conjunction with Stapletons Tyre Services, recently rewarded its top dealers with a five-star, all-expenses trip to Rome as part of the Maxxis Dealer Rewards Programme. Fifteen dealers and their partners were treated to a three night stay in the luxury five-star Hotel Eden, located in the heart of the Old City of Rome, just a short walk from the legendary Spanish Steps and picturesque Villa Borghese.
JK Tyre & Industries has raised its short and long term debt ratings from A1 to A1+ and A to A+ respectively. Arun K Bajoria, president of JK Tyre, told The Times of India that the improved credit ratings were “testimony to JK Tyre's strong fundamentals.”
Vipal Rubber’s New Zealand partner, Power Retreads, has opened a new manufacturing unit in Hastings on the country’s North Island. During the opening, which took place last month, guests were able tour the premises and learn more about the products and procedure. Vipal has worked in partnership with Power Retreads since 2007. That is why on this occasion Vipal’s representatives gave the firm an acknowledgement plate for the work it has performed in the last 7 years.
In a world of uncertain requirements and demands of future campaigns, militaries all over the world are being forced to adapt their supply chains and the life cycle management of their assets. With this in mind, Defence IQ is hosting the 12th Annual Defence Logistics symposium. The event, which runs from 18 - 20 February 2015, welcomes a large number of representatives from large defence manufacturers, coming to discuss their specific supply chain challenges and to share common solutions.
Marcos Oliveira, president and CEO of Iochpe Maxion, has announced the promotion of Pieter Klinkers (44) to the role of CEO of Maxion Wheels, effective 1 March 2015. Klinkers, from the Netherlands, succeeds Fred Bentley in this role at the world’s largest manufacturer of aluminium rims for passenger cars and steel rims for cars and commercial vehicles. While Bentley led the company from the USA (Northville, Michigan), in future Klinkers will execute his duties as CEO from Königswinter, near the former West German capital of Bonn, where he is currently based.
Leading road safety charity the Institute of Advanced Motorists (IAM) has called for traffic education to become an integral part of the National Curriculum, in an effort to cut the numbers of young people killed and injured on UK roads. The call ties in with a survey by the FIA (Fédération Internationale de l'Automobile) which found only eight of 15 European countries had mandatory traffic education in schools.