Acorn Infinity Motorsport (AIM) introduced three new race cars for the 2014 British Drift Championship at the UK’s premier motorsport show, Autosport International, recently held at the NEC Birmingham. Steve ‘Baggsy’ Biagioni and his new Nissan S13 participated on the Lydden Hill Race Circuit stand throughout the four days, while in Hall 9, Mark Lappage […]
Cooper Tire & Rubber Company has signed an agreement with Chengshan Group Company Ltd. According to the Findlay, Ohio-based tyremaker, the deal begins with the commitment that the Chinese joint venture Cooper Chengshan Tire (CCT) business will be independently valued and is said to position Cooper to resume regular financial reporting. Tyres & Accessories understands that the deal sets a floor value of at least US$435 million for the total company and perhaps more if the independent valuation comes in higher. Cooper’s share price rose 2.75 per cent (correct at time of publication) in response to the news.
OK so the fact that China is the world’s largest tyre producer, the largest car maker, has the largest population and is likely to be the largest economy soon means that it is massively premature to write off the People’s Republic. Rapid growth and the huge scale of Brazil, Russia and India means these markets are still should be the focus of much attention. However, many international businesses have already latched onto this. So if everyone is competing for what they perceive as the same low-hanging fruit other opportunities could be going missing…or at least that is the question that is being raised in banking circles.
Tyre manufacturer Sailun has confirmed to Tyrepress an “indirect interest” in Kings Road Tyres. While the direct players in the investment group have yet to be fully confirmed, Sailun’s indirect interest gives some indication of potential tyre industry figures involved in the partnership, confirmed to involve Chinese, European and North American interests.
The trading price of shares in Pirelli & C. SpA jumped to €12.96 late on 29 January after financial website FT Alphaville published information from “usually well-informed sources” about manoeuvres to change the company’s ownership structure. The release of a statement from Pirelli chairman and CEO Marco Tronchetti Provera denying any deal ensured the descent from this peak, however, and by 11:00am GMT today the share price had declined 7.3 per cent from this high to €12.01.
The vacancy in Bridgestone Americas’ senior management created by Eduardo Minardi’s impending departure for Europe will be filled by Gordon Knapp. Effective 1 March, he will assume the role of chief executive officer of Bridgestone Americas and chairman, CEO and president of Bridgestone Americas Tire Operations. Until a successor is appointed for his current position, Knapp will also continue as president of North American Consumer Tire at Bridgestone Americas Tire Operations.
Eduardo Minardi is to relocate to Brussels to make the role of executive chairman, Bridgestone Europe (BSEU) his primary responsibility. Minardi previously served as Bridgestone Americas chief operating officer and chairman, CEO & president of Bridgestone Tire Operations concurrently with the BSEU role he assumed 1 January, 2014.
Giti Tire has promoted Matthew Mardle to its senior management team, taking up the newly created position of European supply chain manager. Mardle will be responsible for product life cycle management, forecasting and planning for GT Radial, Primewell and Runway tyres across passenger car, SUV and light truck (PCR) and commercial truck and bus (TBR) operations.
Continental AG has integrated the cables for wheel speed sensors and the electric parking brake (EPB) into a single harness, making the company one of the first manufacturers to offer such a combination of components. And what’s more a Japanese car manufacturer is set to introduce the innovation in 2015.
Tuning parts supplier JMS has launched its 2014 Mercedes Tuning & Styling catalogue. Coinciding with the start of the new season, the catalogue includes: aerodynamic parts, car alarm systems exhaust systems, spacers, suspension kits, chiptuning, speedpedal, strut braces, headlights, taillights, spacers, windstops, floor mats and sport seats within its 48 pages. JMS says the catalogue […]
The CV Show’s organisers are gearing up for the 2014 event, but promoting its cooperation with a number of leading tyre suppliers. The idea seems to be to pitch to fleet operators and owner drivers alike, explaining that the show recognises the role tyre choice and maintenance cost plays in dictating profits. That’s why – the organisers say – this year’s show features 14 different suppliers to this “essential sector of the road transport industry”.
This month, American Tire Distributors (ATD) acquired Hercules Tire & Rubber for approximately US$310 million. Further details of the deal beyond the news reported this week have been published by US trade publication Tire Review, who yesterday spoke about the purchase with Ron Sinclair, senior vice-president of marketing at Hercules Tire & Rubber.
Coach travel’s status as one of the most fuel efficient modes of transport will be boosted further by an increase of the EU weight limit for passenger service vehicles to 19 tonnes. To maximise the efficiency and profitability further – as well as to comply with safety requirements – premium tyre manufacturers in particular are readying their commercial vehicle ranges, with specialised lines delivering load capacity increases and improved, coach-specific characteristics. Goodyear states that its Marathon Coach and Ultra Grip Coach tyres have been developed with load capacities in anticipation of regulation changes proposed by the European Union.