Volkswagen could face fines of up to £60 billin after the US Justice Department filed a civil lawsuit against it for violating clean air laws. It alleges that Volkswagen installed ‘defeat devices’ in almost 600,000 diesel vehicles in the US to cheat emission tests. The Justice Department recently filed the lawsuit on behalf of the Environmental Protection Agency, which accuses Volkswagen of four counts of violating the US Clean Air Act. In theory, Volkswagen could be handed fines of about £25,000 per vehicle found to have violated the law.
Car parts distributor Euro Car Parts (ECP) has opened a standalone branch in Enfield at Unit B Progress Way, Great Cambridge Road, Enfield EN1 1SH.
ECP has closed its existing ex-Unipart site, which was operating as a satellite branch to Edmonton. The new 10,000 sq ft (929 sq m) unit is five times the size of the old branch and includes ECP’s new fast-track Click & Collect counter service.
Nokian Tyres shares that it has signed the United Nations Global Compact initiative and as of 23 December 2015 been registered as a supporting member. The tyre maker joins more than 8,000 companies around the world, along with around 4,000 other participants, in what is said to be the worlds largest corporate social responsibility initiative. Nokian says that signing the initiative “further strengthens” its commitment to profitable business and responsible methods.
Harper Adams data: Michelin Ultraflex tyres lead to 4% yield gain
Farmers fitting Michelin Ultraflex Technology tyres to their agricultural machinery can benefit from a 4 per cent more yield. That’s the view of research led by Harper Adams University, which set out to measure the effects of Michelin Ultraflex Technology tyres on annual wheat yields, specifically looking at productivity, environmentally-friendly agriculture and soil protection.
Helicopter water bombers have been called in to drop their payloads on a tyre fire at Melbourne-based recycler Tyre Crumb Australia. An estimated 150,000 tyres – around 70 per cent of the tyres present at the Broadmeadows site – are burning, and more than 100 firefighters have been called in to fight the fire on the ground. Around 10,000 litres of water is being pumped onto the blaze every minute.
Tyrelessly, an online tyre recycling business launched by 16 year-old Delhi resident Anubhav Wadhwa, aims to collect tyres for free and generate revenue from pyrolysis and online advertising. The company, which was founded in December 2015, launched its web platform on 8 January 2016.
Hankook issues sidewall cracking-related tyre recall in the US
Hankook Tire America Corp. (Hankook) is recalling certain Ventus S1 Noble 2 tyres I n the US because they may develop cracks in the tyre sidewall, resulting in a loss of air. The products subject to the recall are the 245/45R18 96W, manufactured 20 May 2013 to 14 February 2015; and size 245/40R19 94W and 275/35R19 96W tyres manufactured 22 May 2013 to 14 February 2015 supplied for 2015 Hyundai Genesis vehicles as well as being sold as replacement tyres.
epyx, the ecommerce fleet platform, has announced three new director level appointments. Aditya Varadpande has been appointed as director of the newly-created growth and marketing department. He shall also lead the company’s international operations.
ChemChina to acquire KraussMaffei Group for €925million
Leading chemical group China National Chemical Corporation, or ChemChina, has agreed to acquire machinery manufacturer KraussMaffei Group from Onex Corporation for a cash enterprise value of 925 million euros. ChemChina’s acquisition of the KraussMaffei Group covers the German company’s three brands of products, including the KraussMaffei Berstorff range of extruders, roller head systems and cap strip systems for the tyre industry. The transaction is subject to closing conditions including customary regulatory approvals.
Titan, US union file petition against off-road tyres from China, India & Sri Lanka
Titan International has filed petitions with the US International Trade Commission and the US Department of Commerce for relief from imports of off-road tyres from China, India, and Sri Lanka. The petitions were filed jointly with the United Steelworkers union and allege that imports from China and India are being dumped in the US market in violation of international trade agreements and that imports from all three countries are benefitting from improper government subsidies.
Compagnie Générale des Etablissements Michelin has called on the assistance of an investment services provider for the implementation of its share buyback programme as authorised during the tyre maker’s Annual Shareholders Meeting of 22 May 2015.
Preliminary key data published today by Continental Corporation shows that the tyre and automotive systems manufacturer enjoyed both higher turnover and adjusted EBIT margin in the 2015 fiscal year. Full year sales of around 39.2 billion euros represent a year-on-year increase of 13.6 per cent, while adjusted EBIT margin rose from 11.3 per cent for the 2014 financial year to 11.7 per cent for 2015.
IHS: 2015 car registrations show gains across brands and segments
Following SMMT’s release of record 2015 UK car registration figures, market analysts at IHS have offered commented on the brand and model trends the numbers reveal.
Approval has been given for the long-anticipated Triangle Tire Co Ltd. initial public offering. The Shanghai Stock Exchange disclosed on 6 January that the go-ahead was granted at the meeting of the exchange’s Issuance Examination Committee held earlier that day.
UK new car registration figures for December 2015 released by the SMMT show a remarkable 8.4 per cent increase on the same period last year and, when combined with the previous 11 months of data, reflect an overall market improvement of 6.3 percent for 2015 over 2014.
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