Today (30 November) Pirelli signed off on a new revolving line of credit, which provides the company with 1.2 billion euros over a duration of five years. According to the company, the new facility will replace existing lines of credit worth a total of 1.475 billion euros, launched in 2005 and 2007 with maturities in 2011 and 2012. These therefore will be cancelled in advance. An official statement on the matter explained that the new 2015 maturity is aligned to the timing of Pirelli’s recently presented industrial plan.
Trelleborg Wheel Systems’ TM900 High Power super single tyre is designed to fit the most advanced high power tractors, and now an extra large size (900/60R42) is on the market for the New Holland T9 from 350 to 500hp and the Case Steiger from 350 up to 450hp both in Europe and North America. At higher horsepower, tractors require dual tyres, which are typically recommended for field application only; Trelleborg says its super single 900/60R42 TM900 High Power has been engineered to combine outstanding performances both in the field and on the road.
During November one member of Grouptyre entered administration and four more formed a joint venture to maintain supply to national customers. Now that the joint venture is poised to make another acquisition, this time of WJ Wood & Sons, Tyres & Accessories exclusively interviewed Grouptyre managing director Karl Naylor in order find out more about the reasons behind the recent events. Needless to say a lot has been happening within Grouptyre over the last few weeks, with what Naylor diplomatically described as “unforeseen problems at one of its larger member companies…resulting in rapid changes having to be put in place to maintain its national coverage and service to customers.”
However, while the market officially got wind of the story in November, it appears Grouptyre’s members had been making every effort to secure Broadway’s future as far back as the summer. At this point plans were being discussed to address concerns that Broadway’s financial performance was weaker than Grouptyre was comfortable with.
Moscow has is the venue for this year’s the launch of ‘The Cal’ – Pirelli’s 2011 Calendar. In its almost half-century, the Pirelli Calendar has gained an enviable reputation for presenting some of the world’s most beautiful women. This time round, however, under the artistic direction of Karl Lagerfeld the Calendar has diversified to include something for everyone – in a departure from the previous 37 editions, men feature alongside the female models in the 36 photos that make up the 2011 Calendar. Tyres & Accessories brings you full information tomorrow.
Despite already being in existence for the seven years since 2003, Eastman Industries Ltd’s AddoIndia brand was a new one for Tyres & Accessories. Speaking to the magazine during the Reifen China exhibition in late November, Harpeet Singh Walia, the company’s international marketing executive, explained that the company’s cross ply tyres are produced in India, while the firm takes delivery of and distributes passenger car radials manufactured in China. In addition to these lines, the company sell “everything from bike to OTR tyres” and also markets lines in battery and wheel products. Many of the truck tyres the company sells are of bias construction, but company representatives are pragmatic about the fact that these will eventually go away.
Joining the list of vehicle manufacturers endorsing cold weather tyres in the UK is Ford, who is teaming up with Pirelli to help drivers nationwide “avoid any slip-ups” this winter. And the two companies seem certain that British motorists can benefit from winter tyres – Ford and Pirelli reckon more than 30 days with average temperatures sitting below seven degrees Celsius await us between January 1 and February 28, yet should their forecasting talents be found wanting the companies will refund half the tyres’ cost. Any customer buying four Pirelli cold weather tyres through a participating Ford dealer before December 31, 2010 is eligible to register his or her details and receive a 50 per cent refund on the tyres’ purchase price if the weather proves to be warmer.
Stapleton’s Tyre Services latest and greatest 100,000 square foot warehouse has been developed to be the leading tyre wholesaler’s UK “super hub.” Positioned near the literal mid-point of England, the new depot is central to the company’s existing warehouses. Previously the largest of these were developed to be Northern and Southern hubs, but now they will be fed by the large Birmingham location, which is coincidently located a stone’s throw away from Goodyear Dunlop’s Tyre Fort in the Erdington area, Birmingham. Tyres & Accessories recently met Ashley Croft, head of Stapleton’s supply chain, for an exclusive first look at the new facility.
The first thing you notice after you arrive inside the Erdington, Birmingham location – which is impossible to miss owing to the largest Stapleton’s signage in the company fixed to the road facing wall outside – is that the new super hub is already stocked with a full-range of about 3500 stock keeping units (SKUs).
When Clampco UK was founded in 2001, the company largely focused upon the supply of exhaust clamps and fittings to the exhaust and tyre fast fit sector. The firm was well received and its customer base grew to some 2,000 garages within a few years, yet during this period signs of decline in the exhaust market as a whole became apparent to Clampco. As Clampco managing director Stuart Hubble shares, it was clear the company’s only option for growth lay in diversifying and enlarging the product range on offer. With this in mind, Clampco focused its energies on investigating what other everyday items could be sold through its existing customer base. Two of the first additions to this wider range were tyre repair consumables and wheel balance weights – this was, notes Hubble, a “natural progression” from tyres and exhausts. Subsequently, Clampco added items covering the full spectrum of workshop requirements, including hygiene and safety products plus workshop cleaning products such mops, buckets and brushes. In addition to this, a full range of fast fit garage related tools such as impact wrenches and torque wrenches were added to the Clampco line-up.
This season’s talking point is shaping up to be winter tyres and what pros and cons are attached to them. In order to provide its customers with some clarity on the issue, Mycompanyfleet, the automotive software division of human resources services provider NorthgateArinso, has outlined the means by which fleet operators can effectively evaluate their need for winter tyres.
In the weeks since the September launch of its first winter tyre programme, Kwik-Fit Fleet has reported considerable demand. At present the fast-fitter is fitting more than 2,200 winter tyres a week and soon demand may outstrip supply in Britain’s previously sluggish winter tyre market. And with demand for tyres increasing globally, supplying our market with sufficient fresh stocks may prove no mean feat.
Through its ‘Forever Forest’ project, Yokohama Rubber hopes to transform the grounds at its factories into verdant, leafy areas. The company has held numerous tree planting ceremonies both in Japan and around the world, and now Yokohama Tire Corporation is going one step further by conducting a ‘Green Week’. Between November 30 and December 3 the US based operation is staging a series of eco-themed events, culminating with a visit from one of the world’s most famous ecologists.
Pirelli’s sale of its broadband business is a done deal. On November 29, the Italian company reported the sale of Pirelli Broadband Solutions SpA to Advanced Digital Broadcast Group has been finalised and the transaction is now completed and closed. Advanced Digital Broadcast paid approximately 25.1 million euros in cash and 400,000 listed shares, equal to approximately 7.2 per cent of its capital, for the broadband business. With regard to these shares, Pirelli & C. has undertaken a lock-up commitment for the first two months following the closing, as well as a put option for Pirelli & C. and a call option for ADB, which can be exercised within two years.
The GT Radial GSL213 steer tyre and GT669+ drive tyre have received SmartWay verification from the US Environmental Protection Agency. SmartWay verified products reduce emissions and provide estimated fuel savings of three per cent or greater against market leading on-highway commercial truck tyres. These are the first GT Radial tyres to receive SmartWay verification. “This is an important milestone for our customers and company,” said Tom McNamara, vice president of sales for GITI Tire USA. “Our customers are reducing fuel costs, one of their highest expenses. We have received confirmation on the technology of our products and commitment to the environment.”
India’s Ceat Ltd. now holds global ownership of the ‘Ceat’ brand name after purchasing the rights from Pirelli & C. SpA for nine million euros. The company is said to have made an upfront payment of 4.5 million euros to Pirelli with a bank guarantee for the balance. The purchase allows Ceat to export tyres under the eponymous brand anywhere in the world, and Ceat shares jumped 7.4 per cent to 138.85 rupees as details of the deal became known.
Online tyres company etyres says that it is strengthening its nationwide coverage and continuing to grow at a rapid rate, despite the challenging economic climate. etyres has reported a steep rise in the number of new branches launching across the UK.
The intensified growth of the company has led to a strengthening of its nationwide coverage. The consolidation of its network is also enhancing the service provided to thousands of customers every week, says the company.