September continues car manufacturing growth
The Society of Motor Manufacturers and Traders has hailed September’s 7.4 per cent growth in vehicle manufacturing as showing that a positive trend is developing in the sector in the UK. Car manufacturing rose by 7.5 per cent in the month, making the first three-quarters of 2011 up 4.8 per cent over 2010’s. Commercial vehicle output rose by 6.2 per cent in September, but is still down 2.7 per cent over the January-September period.
Continue ReadingMark Griffiths joins Continental UK communications team
Continental Tyre Group Ltd has appointed Mark Griffiths as communications assistant to work alongside communications manager, Laura Hardy within this newly created role, covering all aspects of the brand’s public profile. Griffiths 24 recently returned from a year living in Paris teaching English. Before this, he studied for his BA Journalism degree in 2008 graduating with 1st class honours, going on to complete his MA in Automotive Journalism in 2010 with Merit.
Continue ReadingAnnunziato to replace Ohashi as Bridgestone Europe chief
As of 1 January, 2012, Makio “Mac” Ohashi will end his tenure as CEO and president of Bridgestone Europe NV/SA. He will be succeeded in this role by Franco Annunziato, who is now chief quality officer and senior vice-president – technology at Bridgestone Europe as well as managing director of Bridgestone Technical Center Europe S.p.A. After taking on Ohashi’s current duties, Annunziato will remain chief quality officer of Bridgestone Europe and managing director at the Technical Center Europe. Annunziato also serves as a vice-president and officer of Bridgestone Corporation.
Continue ReadingReport: 2010’s new car sales helped repair puncture in tyre market
Higher new vehicle registrations in 2010 helped to repair a price deflation puncture in the UK tyre and tube market in 2009. According to a new report published by Key Note, the tough economic conditions in 2009 resulted in the UK market value for tyres and tubes deflating by 8.4 per cent at manufacturers’ selling prices (msp). Their view is that a boost in new vehicle registrations in 2010 and inflationary price increases helped the apparent market undo this, growing by 12.6 per cent in 2010.
Continue ReadingHayes Lemmerz purchased by Brazil’s Iochpe-Maxion
Following an all-cash transaction valued at approximately US$725 million, wheel manufacturer Hayes Lemmerz International, Inc. has been acquired by Iochpe Holdings, LLC, a subsidiary of Brazilian automotive and railway wheel and chassis manufacturer Iochpe-Maxion S.A. The deal will combine Hayes Lemmerz’s global wheels business with that of Iochpe-Maxion.
Continue ReadingVenture provided £37.5 million for Unipart deal
Venture Finance provided a funding line of £37.5 million to finance H2 Equity Partner’s recent acquisition of a controlling stake in Unipart Automotive. And what’s more there is said to be “increased appetite for structured private equity deals.”
Continue ReadingEmerging markets, Tier 3 central to Michelin growth
At its most recent Investors Day, held at the company’s Cuneo site in Italy, Michelin confirmed its growth outlook for the coming decade. The French tyre major anticipates the global passenger car and light commercial vehicle tyre market reaching 1.5 billion units in 2015, a figure representing a 25 per cent growth on 2010 figures. Looking further ahead, an additional 20 per cent growth in the years between 2015 and 2020 is expected, with 1.8 billion tyres sold in this sector worldwide in 2020. Michelin notes that 70 per cent of this volume growth should occur in ‘new’ markets.
Continue ReadingUnipart and H2 Equity complete deal
Unipart Group and H2 Equity Partners have officially completed the previous announced deal that sees H2 acquire a controlling stake in Unipart Automotive, one of the UK’s largest independent suppliers of car parts, workshop consumables and garage equipment.
Continue ReadingStrong demand prompts Titan to up 2011 projections
The sales and EBITA guidance issued by Titan International on May 19 has been revised, with increases made to both figures. In a September 28 press release announcing these alterations, Titan chairman and CEO Maurice Taylor stated: “Agriculture is booming, mining is hot and construction is rebounding.
Continue ReadingMichelin announces notes repurchase
In a press release intended for all markets excepting the US, Compagnie Générale des Etablissements Michelin announced that on 21 September it repurchased more than 10 per cent of the company’s lowest-ranking subordinated notes (titres subordonnés remboursables de dernier rang), due 3 December 2033, for an aggregate nominal amount of 500,000,000 euros admitted to trading on the regulated market of NYSE Euronext Paris under ISIN FR0010034298. Following the repurchase, the outstanding nominal amount is 140,628,000 euros.
Continue ReadingSchaeffler to become public company
As a step towards achieving capital market viability, major Continental shareholder Schaeffler is to be transformed into a public company. The decision for the privately-owned Schaeffler GmbH to become Schaeffler AG (Aktiengesellschaft) – an entity similar to a British public limited company – was announced by Supervisory Board chairman F.W. Schaeffler on September 26. The stock corporation is expected to be entered into the commercial register in October and Schaeffler Group operations will henceforth be managed by an Executive Board.
Continue ReadingHow social nets, price comparison are influencing online tyre business
Things move quickly in the online world. Even business moves “at the speed of thought” as Bill Gates suggested in the title of his book of the same name. While the tyre industry has shown some signs of reticence when it comes to doing business over the Internet, in recent years the tide has turned and most large (and many small and medium sized) tyre companies now see online involvement as a permanent part of their business. However recent developments in social marketing and price comparison sites only go to show that if you don’t keep up you may lose out. Tyres & Accessories analysed the latest data and spoke to some leading players on the frontiers of tyre e-business to see what pitfalls and opportunities lie ahead for the UK and European tyre business.
Continue ReadingInfinity launches online media site
Infinity Tyres has announced the launch of its online Press & Media Room at which news and press releases related to Infinity Tyres, the Infinity Tyres Foundation, and, any stories and media related to the Infinity family, will be first published and stored online. Infinity says it believes that this new digital platform will help journalists find “new ways of engaging their audiences.” Jorge Crespo, Infinity’s European general manager, said the Press Room is a very important digital tool because “millions of people and potential clients will now have access to Infinity’s message, whether this is regarding our product range, or the company’s interests, achievements and goals. And all of this is aimed at giving our potential customers and clients further information about all that happens within Infinity’s world.”
Continue ReadingFor sale: Itochu to divest French subsidiary Speedy
Only a few months after Japanese trading concern Itochu Corporation acquired UK fast-fit giant Kwik-Fit, the British company’s French subsidiary Speedy is, according to French media reports, up for sale. The resale of the Speedy fast-fit chain admittedly doesn’t come as a complete surprise, as from the outset Itochu expressed its main interest as being in the UK and Dutch markets.
Continue ReadingAnd now; electric roads
An article on the website TruthDive suggests that cars could, in the future, be powered by electrified roadways, thus eliminating car batteries. Masahiro Hanazawa at Toyota Central R and D Labs in Nagakute, Aichi, Japan, and Takashi Ohira at Toyohashi University of Technology, also in Aichi, are developing a system that transmits electric power through steel belts placed inside two tyres and a metal plate in the road.
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