Former Pirelli Chairman Dies
Pirelli has reported the death of Former chairman Leopoldo Pirelli. Pirelli, who passed away at his home in the northern Italian seaside resort of Portofino, was 81.
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Kwik-Fit Fleet and Leaseplan Sign New Five-Year Deal
Kwik-Fit Fleet has won a five-year multi-million pound tyre repair, replacement and management contract with LeasePlan UK. The deal with LeasePlan UK, one of the country’s largest contract hire and fleet management companies with almost 120,000 funded vehicles on its books, will run until the end of 2011. The new contract builds on a business relationship between the two companies, which dates back to 2004.
Michelin Launches Pilot Road 2
Michelin has launched the Pilot Road 2, unveiling its latest dual compound offering at the Motorcycle Trade Expo at Stoneleigh Park. The French manufacturer claims that its latest product means riders no longer have to compromise between wet grip and tread life. Michelin hopes results of tests conducted by CERM will help convince retailers and the motorcycle riding public of this.
Motorcycle Tyre Market Revs Up
In contrast to car tyre sales, the UK motorcycle tyre market continued the pattern of growth it has demonstrated in recent years in 2006. Europool figures put the total market size at about 775,000 units (not including non-EU produced tyres and grey and parallel imports), up around 2.2 per cent on 2005. But industry sources are expecting more next year and are projecting that European produced tyre sales will reach 800,000 units (up 3.22 per cent).
TRIB Adds More International Flavor
(Akron/Tire Review) The Tire Retread Information Bureau (TRIB) has announced that Dakoudis Bross S.A., based in Greece, and Reencauchadora Relino SRL, located in Peru, are its newest members.
“TRIB continues to grow internationally as more and more companies in the retread industry throughout the world realize that TRIB is the only international retread industry association,” said Harvey Brodsky, TRIB’s managing director.
Valley Tire Signs on as MRT Franchisee
(Akron/Tire Review) Charleroi, Pa.-based Valley Tire Co. Inc. has been signed as the newest Michelin Retread Technologies (MRT) franchisee. Luc Minguet, COO of Michelin Americas Truck Tires, and Jim Stankiewicz, president of Valley Tire, made the announcement.
Harnar is New Denman Sales Chief
(Akron/Tire Review) Industrial and OTR tiremaker Denman Tire Corp. has appointed Bob Harnar as its new vice president sales. Harnar comes to Denman from Continental Tire North America, where he was director of sales for its OTR tire group.
“I am excited about joining the Denman team,” Harnar said. “Denman has a long history in the tyre industry and I look forward to assisting in helping the company reach new levels of sales growth.”
Reprieve for DuPont Factory
Automotive component and sealant manufacturer Dupont Performance Elastomers will reportedly retain their Rubbertown factory in Louisville, Kentucky until the end of the year. The company previously announced the facility would close by the end of March.
WRC – Subaru happy with BFGoodrich.
Subaru World Rally Team managing director, Richard Taylor has stated that his WRC team is ‘pleased’ with how their new partnership with tyremaker BFGoodrich is progressing. Subaru were required to change to BFGoodrich this season after Pirelli decided to end their involvement with the FIA World Rally Championship.
Tyre Aftermarket in India Growing: Frost & Sullivan Report
(Akron/Tire Review) A new report from Frost & Sullivan, entitled “Indian Tire Aftermarket,” shows that the Indian tyre aftermarket earned revenues of $1,461.7 million in 2005 and estimates revenues to reach $3,414.6 million in 2012.
Essex Man Wins Marangoni-Shod MGF
David Johnson of Essex proved to be the lucky winner of the Marangoni Tyre-sponsored MG Enthusiast Magazine prize MGF. The prize was drawn at the recent NEC Classic Motor Show and the resplendent MGF was handed over at the beginning of December, a very special early Christmas present!
The competition, which ran over a six-month duration during the summer of 2006 in MG Enthusiast and at various events including the Classic Motor Show, attracted thousands of entries. The prize MGF had been restored to perfection over a six-month period by a group of specialist companies. Marangoni supplied a set of Ultra High Performance Zeta Linea tyres for the prize vehicle.
The Marangoni involvement, coordinated by Midlands marketing consultancy Torqback Ltd, was the result of a unique partnership with publisher Octane Media Ltd, parent company of MG Enthusiast Magazine, the joint venture being planned by Octane Media Managing Director Geoff Love, Managing Editor David Lillywhite and Derek Carruthers, Marangoni (Car Tyre Division) Global Sales & Marketing Director.
“We have been delighted by the response to our participation at the Classic Motor Show with Octane Media and being able to communicate the Marangoni story to an informed and discerning audience. We were more than happy to supply the Zeta Linea tyres for the MG Enthusiast project MGF, which highlights their suitability for this hugely popular sports car. Our NEC involvement has certainly proved a very successful and rewarding partnership and has provided an ideal platform for building Marangoni brand awareness in the Classic Car market segment,” said Derek Carruthers.
BEN: ‘Fund Us or Lose Us’
BEN, the automotive industry charity, is facing a deficit of up to £750,000 in its financial year to 31 March after tough market conditions, a drop off in legacy donations and plant closures like Longbridge and Ryton hit its fundraising income. Already BEN has been forced to close its Palliative Care Unit at its Alexandra House care centre in Southport, a move that will cut costs by £150,000 per year through staff redundancies and internal changes.
Titan Alters Conversion Offer for Senior Convertible Notes
Titan International, Inc. has alerted holders of its 5.25 per cent senior convertible notes due 2009 that it will convert their notes into Titan’s common stock at an increased conversion rate. According to financial news media, the notes are currently convertible at a conversion rate of 74.0741 shares of common stock per $1,000 principal amount of notes, or about $13.50 per share. The increased conversion rate is 81 shares per $1,000 principal amount of notes, or about $12.35 per share. As of January 19, 2007, there were $81.2 million principal amount of convertible notes outstanding, according to Titan officials.
Brityrex International 2007 Puts Global Marketing Drive into Gear
A major marketing campaign is underway to attract visitors from around the world to this year’s Brityrex International 07 show at the G-MEX Exhibition Centre in Manchester. More than 60,000 free entry tickets to the exhibition are being distributed throughout the UK tyre industry and to professionals around the world. Each exhibitor at May’s show also has the opportunity of taking hundreds of tickets to attract their own customers and contacts to the event.
Titan Secures $200 million Bond, Warns of Losses
Titan Internatinal Inc has announced that the company successfully secured a $200 million senior unsecured five-year bond on 28 December 2006 that allowed it to pay off its revolving credit facility. However the manufacturer also warned that its farm business was down at least $75 million in 2006 and that it may report a negative gross margin for the fourth quarter of 2006.
