Schaeffler places 4% Conti shares to reduce debt
Schaeffler Holding and Schaeffler AG have announced that the companies have placed roughly 4 per cent of Continental shares with a range of investors. According to a statement issued by Schaeffler group, net proceeds will be used to pay down debt as well as additional reduction of debt from excess cash flow. However, the company re-affirmed that Continental AG remains a long-term strategic shareholding.
Continue ReadingDelticom buys Tirendo for 50 million euros
Hanover, Germany-based Delticom AG agreed to purchase Tirendo Holding GmbH on 16 September. The leading European online tyre business will purchase all shares in the Berlin-based online tyre retailer and its subsidiaries. According to a statement issued by the companies, the purchase price, including acquired shareholder loans, amounts to roughly 50 million euros.
Continue ReadingNew advertising opportunities a highlight of upcoming Tyrepress relaunch
Many readers of Tyrepress will now be aware of the planned relaunch of the site later in September. While the benefits to readers of the site’s new design will be discussed in articles throughout the week, today we focus on how the new site will enhance the experience of advertisers using Tyrepress’ busy, highly focused traffic as a platform for promotion. “One of the first things we wanted to improve was the choice of adverts available to you, bringing you the best options to suit your particular advertising needs,” explains advertising manager Scott Parker-Copestick.
Continue ReadingAutomotive firms struggle to give consumer style e-commerce experience buyers expect
When it comes to B2B selling online, automotive organisations are struggling to provide the online buying experience that their customers have come to expect. That’s the view published in the 2013 E-commerce Report from Intershop, which also reveals that smartphone usage, social media and the so-called “consumerisation of IT” are driving up B2B customer expectations. The reports advice? Automotive firms have to adapt to changing customer expectations, driven by trends such as smartphone usage and social media.
Continue ReadingTransense reports most successful year yet
Transense Technologies plc, which offers RFID/TPMS chips and equipment, had what it refers to as its most successful year yet in the 12 months ended 30 June 2013. The company reports revenue increased 98 per cent to £1.5 million (2012: £0.765m, 18 months: £1.014 million). During the same period gross profit is said to have increased 140 per cent to £1.02 million (2012: £0.424 million, 18 months: £0.565 million). As a result the company reports that it has a positive cash position at 30 June 2013 of £1.98 million (30 June 2012: £0.195 million).
Continue ReadingTrax supplying OE wheel weights for new US Ford Transit
British firm Trax JH Ltd, the second largest wheel balance weight manufacturer in Europe, has been selected to supply wheel weights for the new Ford Transit to be built in Kansas City, USA. Widely known in Europe, the Transit will be new to North America and is expected to be sold as the “T” series. The model will be launched in 2014.
Continue ReadingBridgestone stock falls following analyst downgrade
Deutsche Bank’s decision to downgrade its advice rating for Bridgestone shares from “buy” to “hold” on 12 September resulted in a 1.4 per cent fall in the Japanese tyre manufacturer’s share price to 3,430 yen in response to the report.
Continue ReadingNew Tyre Bay Direct website
Tyre Bay Direct has reported that its new website adds a significant number of customer-led improvements to its already existing 24/7 service. The addition of a ‘Live Chat’ feature means customers can speak to Tyre Bay Direct's advisors anytime between 9am to 5pm, Monday to Friday, and can also leave a message outside of these hours.
Continue ReadingThird Conti Eurobond placed under debt issuance programme
Continental has placed another €750 million Eurobond with institutional and retail investors; the company says it chose to do so in order to take advantage of “the current positive capital market environment as well as the momentum of its previous bond transactions.”
Continue ReadingCourt delays Cooper Chengshan anti-merger case
In the latest installment in the on-going Apollo/Cooper merger saga, a Chinese court has postponed a hearing on a case brought against the combination by Chinese manufacturing business Cooper Chengshan.
Continue ReadingPirelli tops tyre sector in sustainability index for 7th year
Pirelli has been nominated the world leader in the ATX Auto Components sector of the Dow Jones Sustainability World and Dow Jones Sustainability Europe indices, with a score of 85 points compared with a sector average of 51 points. It is the seventh consecutive year that Pirelli has topped the tyre sector in this respect.
Continue ReadingTyres, magazines and the quality dichotomy
What do tyres, websites and a new cover design have in common? It is all a question of quality. In the British tyre industry everyone talks about price versus quality. Almost as often the debate broadens out before settling in the amorphous arena of “value”. More often than not this means the narrowing of the gap between two perceived opposites. In practice it could mean a customer buying a high quality product for a lower than expected price.The classic example of this is the customer that buys a higher priced product that performs beyond either their expectations or what the competition has to offer. In either case both propositions are predicated on the basis of product quality. Without this there are only short term pricing and sales strategies. And this in turn leads to the key difference highlighted by the age-old business adage: “sales are vanity, profits are sanity”. Without a properly considered quality-focused market approach, businesses struggle to make sense in the long-term, whether the macro-economic environment provides wind in your sails or an adverse gale.
Continue ReadingTyrepress.com upgraded and relaunched
In just a few days’ time, a completely upgraded tyrepress.com will be unveiled. We’ve listened to feedback from within the industry and taken stock of the increasing demand for our online services, and the result is a totally redesigned site with improved mobile and tablet functionality along with more user friendly search and navigation.
Continue ReadingMouldmaker Greatoo looking to expand into OTR markets
Chinese mould manufacturer Greatoo Incorporated is reportedly planning to establish intelligent factories for the production of large OTR tyre and speciality as well as other apparently high-end moulds as part of a so-called “structural adjustment strategy”. The move is being seen as a way of strengthening the core value of its company by focusing on the highest value sectors.
Continue ReadingContinental Tyres takes Mercedes-Benz World to Contidrom
Continental Tyres recently invited Mercedes-Benz World representatives and driving instructors to experience its Contidrom testing facility in Hanover, Germany. Utilising Contidrom’s 2km wet handling track, Continental set out to demonstrate the difference between premium and budget tyres on a Mercedes-Benz C-Class among other tests.
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