Apollo Tyres ‘pleased’ with final dismissal of Cooper case
The legal dispute between Apollo Tyres and Cooper Tire & Rubber has now ended following the final dismissal of litigation filled by Cooper Tire against Apollo.
Continue ReadingMichelin acquires land for German plant expansion
The German town of Bad Kreuznach reports Michelin’s acquisition of a 70,000 square metre land plot alongside its facility there, an area that will be used to expand the plant. The land is part of the ‘Marshall Kaserne’ site, a former US Army barracks in the Rhineland-Palatinate that closed in 2001.
Continue ReadingChinese court victory for Bridgestone design lawsuit
A court in China has ruled in favour of Bridgestone Corporation, determining that two Chinese companies, Jianxin Rubber (Fujian) Co. Ltd and PT.Beststone Rubber Industries Co. Ltd., infringed the Japanese tyre maker’s design rights. The Zhengzhou Higher Peoples Court ruled that a pre-cure tread the companies manufactured and sold for truck and bus tyres violated Bridgestone’s design rights.
Continue ReadingThe Parts Alliance awarded ‘Best UK Automotive Transactions’
The Parts Alliance has been recognised for providing the ‘Best UK Automotive Transactions in 2014’ in Deal Feed International’s inaugural Sector Success Awards. The website’s new business awards examine mergers and acquisitions across the globe, asking a panel of financial professionals and writers to judge award winners across various segments. The Parts Alliance’s victory comes on the back of “the group’s rapid growth and financial performance as well as other key strengths such as customer service, employee development and overall strategy,” according to the Alliance’s statement.
Continue ReadingBekaert acquisition of three Pirelli steelcord plants finalised
The sale of Pirelli’s tyre steelcord activities at three sites was finalised on 18 December. Bekaert is now the official owner of the Figline facility in Italy, the Slatina plant in Romania and the operation in Sumaré, Brazil, however it still awaits local regulatory approvals for the transfer of Pirelli’s steelcord facilities in Izmit, Turkey and Yanzhou, China. It is expected that these approvals could be obtained in the first quarter of 2015, however the companies can give no assurance that this timeframe will be met.
Continue ReadingHankook Tire takes 19.5% share in Halla Visteon Climate Control
Korea’s Hankook Tire is a 19.49 per cent shareholder in Halla Visteon Climate Control Corp after it and private equity firm Hahn & Company acquired the close to 70 per cent company share that Visteon Corp held in the joint venture. Its 50.5 per cent stake makes Hahn & Company the largest shareholder in the climate control system specialist, while Hankook Tire is the second largest. According to a disclosure made to the Korea Stock Exchange, Hankook Tire paid a total of Krw 1.08 trillion (£630.2 million) for the 20.8 million shares it received.
Continue ReadingPirelli’s Tronchetti Provera: “In Russia we will continue to grow”
Football magnates such as Arsenal’s second-largest shareholder Alisher Usmanov and Chelsea’s Roman Abramovich may have lost nearly losing $809 million (£516 million) $450 million (£287 million) already with the collapse of the rouble, but Pirelli’s Marco Tronchetti Provera remains optimistic about the tyre maker’s chances in Russia.
Continue ReadingRubbery harvest – Mitas to trial dandelion rubber in agricultural tyres
Continental, Apollo Vredestein and Bridgestone have all expressed interest in using dandelion-sourced rubber as a substitute for Hevea brasiliensis rubber in tyre production. Now Mitas has indicated its intention to evaluate the suitability of dandelion rubber for use in the manufacture of agricultural tyres. The company will use rubber extracted from Taraxacum koksaghyz (Kazakh dandelion) and aims to produce the first prototype tyre some time in 2015. This plan complements Mitas’ involvement in the Drive4EU project, which is researching the possibilities of using rubber from the Kazakh dandelion.
Continue ReadingMichelin partners in Spanish wholesale joint venture
At around the same time that Michelin moved to acquire 100 per cent of German tyre wholesaler Ihle Baden-Baden, the company gained approval to enter the Spanish wholesale market. On 12 September 2014, the Spanish National Authority for Markets and Competition (Comisión Nacional de los Mercados y la Competencia) gave its approval for Euromaster Automoción y Servicios, S.A.U. and Rodi Metro, S.L., which operates the 150+ Rodi Motor Services retail network in Spain, to form a new wholesaling operation to distribute car and light commercial vehicle tyres within the country. Rodi says the wholesale operation has been set up as a 50/50 partnership.
Continue ReadingLinglong Tire’s R&D, European factory plans – Wang Feng gives details
Speaking at the signing ceremony of Shandong Linglong Tire’s agreement with German football club VfL Wolfsburg, the tyre maker’s CEO spoke of the “first class exposure” and substantially increased brand awareness the partnership will bring. He also discussed Linglong Tire’s growth ambitions and the role Europe will play in achieving these.
Continue ReadingContinental buys mould manufacturer A-Z
Continental has acquired German tyre mould and container manufacturer A-Z Formen- und Maschinenbau GmbH. The Bavaria-based specialist reports that the tyre and automotive components maker has taken over the interests belonging to both former shareholders. Further details will be made public in January, and employees were informed of the deal at a plant meeting yesterday. “Continental has belonged to A-Z Formen- und Maschinenbau GmbH’s clientele for many years,” shared the mould manufacturer in a statement. “The Runding-based company will, together with its subsidiary in the Czech Republic (A-Z Czech S.r.o.; d.Red.), become an important part of the Continental group and continue its long-term positive business growth.
Continue ReadingNew logo, headquarters for Toyo Tires in anniversary year
Toyo Tire & Rubber has unveiled a new commemorative logo to mark the 70th anniversary of Toyo Tire & Rubber next year. A further, more tangible change will also take place in conjunction with the anniversary – the company is shifting to a new headquarters.
Continue ReadingGoodyear relocating Latin America HQ to Akron
According to a report emanating from Goodyear’s hometown, the tyre maker intends to bring its regional headquarters for Latin America back to company headquarters in Akron (Ohio, US) next year. The Akron Beacon Journal wrote on 16 December that efforts to relocate the headquarters in São Paulo, Brazil will begin early in 2015 with the transfer of senior management to Akron. Goodyear will spend several months evaluating which other positions it will move from São Paulo to the US, the Akron Beacon Journal added. The headquarters has been based in São Paulo since 2005, after it was moved from Akron.
Continue ReadingOn the buses – Hankook wins second award for Blue Bird supply
It’s now two years since Hankook Tire began supplying AH12 steer and Z35A drive axle tyres to bus manufacturer Blue Bird Corporation for original equipment fitment on its school buses, and the US-based company has recognised Hankook’s efforts by bestowing it one of ten 2014 Outstanding Supplier Awards; Hankook award success was in the Polymer category. This is the second year in a row Hankook has received the award; the tyre maker says its back to back wins underscore the commitment shown in its original equipment activities with Blue Bird Corporation.
Continue ReadingHankook Tire linked to Halla Visteon bid speculation
According to news published by both Reuters and Bloomberg, South Korea’s Hankook Tire may submit a joint bid with private equity company Hahn & Company to acquire a majority share in climate control system specialist Halla Visteon Climate Control Corp. Reuter says its information comes from a Hankook Tire official, who was not named, while Bloomberg’s report is based on an e-mail from the tyre maker that confirmed interest in jointly purchasing the 70 per cent company share that Visteon Corp. presently holds.
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