Protyre network expands with Bathwick Tyres acquisition
Micheldever Tyres Services Ltd has announced the completion of a deal to acquire regional retailer, supplier and fast-fit specialist Bathwick Tyres Ltd.
Micheldever Tyres Services Ltd has announced the completion of a deal to acquire regional retailer, supplier and fast-fit specialist Bathwick Tyres Ltd.
Only recently, Michelin unveiled its first connected tyre solution that amateur driving enthusiasts can go out and buy for their cars. This is Track Connect, a system compatible with the newly-launched Pilot Sport Cup 2 Connect tyre and now on sale in several European markets. A dedicated competition version has also been developed – the tyre maker calls it Michelin Motorsport Connect, and this solution will be introduced at the next rounds of the French Rally Championship between 13 and 15 April. Michelin Motorsport Connect will then initially be released in France, with prices starting at 400 euros, before being introduced elsewhere in Europe and the rest of the world.
The first sizes in two Goodyear tyre lines for smaller trucks come to market this month. The Kmax S steer axle and Kmax D drive axle tyres are being rolled out in a total of 20 dimensions for 17.5-inch and 19.5-inch rim diameters, and Goodyear says the new products offer strong traction, excellent steering characteristics, high mileage and robustness.
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.14 per share of common stock. The dividend is payable 1 June 2018 to shareholders of record on 1 May 2018. The payout represents an annual rate of $0.56 per share.
Automotive parts manufacturer Federal-Mogul is changing hands for US$5.4 billion. The new owner is vehicle ride performance and clean air products manufacturer Tenneco Inc., which yesterday signed a definitive agreement to acquire the business from Icahn Enterprises L.P. The acquisition is to be funded through cash, Tenneco equity and assumption of debt and is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions.
ELTA Automotive Ltd, the Midlands-based electrical component specialist and the company behind the Lucas Electrical brand, has launched a new range of vision and engine management products under the VisionPro and VxPro brands.
A new tyre line has joined the Hankook range of bus tyres. The SmartCity AU04+ is designed for year-round urban use – it is 3PMSF and M+S marked – and is available in size 275/70R22.5.
A court in the US state of Arizona ruled on 3 April that Goodyear Tire & rubber cannot continue to keep court documents relating to an alleged defect in a Goodyear tyre secret. The ruling from the Superior Court of Arizona, Maricopa County, comes in the Haeger v. The Goodyear Tire & Rubber Company personal injury case and follows a motion from non-profit organisation the Center for Auto Safety (CAS) to unseal court records and remove a protective order.
The CST brand is perhaps best-known in the UK for its presence in the ATV market, with its tyres distributed by one-stop motorcycle parts and accessories shop Bickers. The Cheng Shin Group has announced it is to diversify its CST range in Europe with the addition of passenger car, van and 4×4 tyres to its expanding portfolio.
On 19 March 2018, Michelin announced it had reached an agreement on the terms of its acquisition of Fenner plc, specifically a recommended cash acquisition of Fenner’s entire issued and to be issued share capital. The plan is for the acquisition to be implemented by means of a court-sanctioned scheme of arrangement.
The Goodyear Tire & Rubber Company announced the re-election of 12 members of its Board of Directors to new one-year terms at the company’s annual shareholder meeting yesterday. In addition, shareholders voted in favour of an advisory resolution approving the compensation of its named executive officers and voted to ratify the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2018.
Driving charity Speed Of Sight and Landsail Tyres have launched a new partnership for 2018. The Manchester-based organisation uses specially adapted high-performance cars to offer track day experiences for individuals with disabilities, including the blind and partially sighted. Landsail will support SOS in fundraising efforts and at awareness events.
Cooper Tire & Rubber Company has announced the planned retirement as a full-time executive of Ginger Jones, senior vice president and chief financial officer. Jones intends to focus on serving on public company boards of directors.
Graham Lange, proprietor of Horton Cars in Buckinghamshire has put EDT’s automatic transmission machine through its paces, declaring himself “astonished” by the results. The independent Volvo specialist said the machine helps ease the removal of oil from automatic gearboxes, usually a tricky process. Lange explains: “Using the EDT machine you can remove all of the oil from the gearbox, cleaning out every last little bit in there. That’s simply not possible by draining the oil and replacing it: even if you flush it two or three times you won’t get the same result that you do with the EDT machine.”
Mahle Aftermarket has announced new additions to the Victor Reinz gasket range, offering a wider choice of sealing solutions to aftermarket customers for both passenger and heavy duty (HD) vehicle applications.
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