Pirelli Sells Cable Business to Goldman Sachs for 1.3 billion euros
Pirelli & C SpA has sold its Energy and Telecom Cables and Systems business to Goldman Sachs for 1.3 billion euros. So what will the investment company get for its money? In 2004 the cable business turned over more than 3.2 billion euros, with an operating income (EBIT) of more than 110 million. The transaction includes intellectual property rights and Pirelli brand licensing for two years. While the business itself employs 12,000 people in its 52 plants around the world.
Continue ReadingFour People Critically Injured in Tyre Recycling Blast
Irish Health & Safety Authority officials are investigating an explosion at Crumb Rubber Ireland, the only collector and processor of scrap tyres in the Republic of Ireland.
Continue ReadingGassing on About Nitrogen
In the UK the implementation of nitrogen inflation is still a relatively new topic. But when ATS Euromaster began a nitrogen inflation trial at 25 of its UK outlets earlier this year, it stirred interest about the subject within the market.
Continue ReadingProgress Reported in BFNAT-USW Talks
(Akron/Tire Review) News reports from St Louis indicate union negotiators feel they are making progress in their contract negotiations with Bridgestone/Firestone North American Tire (BFNAT). The two sides reportedly met through the Memorial Day weekend, and both sides said they expected to stay at the bargaining table through the first week of June.
Continue ReadingPrivate Brands Optimise Margins
It is not only manufacturers that sell tyres. Wholesalers too are getting more and more involved in the market with their own tyre brands, the so-called private brands. These brands offer a variety of advantages to the owner: they give the tyre wholesaler the opportunity to chose the market segment where they want to place these tyres and – even more important – they offer the wholesaler the opportunity to optimise its margins by determining the right price.
Continue ReadingBridgestone Recalls 500,000 Valve Cores
Bridgestone is to recall some 500,000 tyre valve cores used in its tyres due to a pressure leak problem. The manufacturer reports that it has informed the Japanese Ministry of Land Infrastructure of its plans to recall the valve cores which were made by Asahi Metal, and produced between October 2004 and May 2005.Bridgestone said it has received reports of 20 cases of malfunction in Japan relating to the valve cores but no accidents. The affected tyres are only said to be available in Japan.
Continue ReadingATSE Pushes Cold Weather Tyres
ATS Euromaster is urging fleet managers to prepare their drivers for winter by placing orders for cold weather tyres before the end of July to ensure stock availability and delivery before the winter season sets in. The retailer’s interest coincides with the UK tyre industry’s recent commitment to create a cold weather tyre market in the UK, as opposed to a winter tyre market.
Continue ReadingContinental to Outpace Car Growth
“Continental AG will grow faster than automotive sector output in the years ahead,” chief executive Manfred Wennemer told an investment conference on Tuesday. “Also in coming years -- based on the orders we have in our books -- we will grow considerably faster than the relevant car (sector) production,” he said, noting that Continental grew some seven per cent faster than relevant automotive production in 2004.
Continue ReadingMichelin Suffers Tyre Theft
Michelin recently suffered the theft of one of its tyres during a British Superbike Championship event. A police investigation showed that the theft of one of its most technologically advanced tyres appeared to have been professionally carried out. In an effort to safeguard its industrial secrets, Michelin is reconsidering its involvement in competitive race series’ outside the MotoGP World Championship.
Continue ReadingGovernment Orders Inquiry into MG Rover Collapse
The directors of MG Rover are to face a full inquiry into their accounts and management of the collapsed car maker, The Times has reported. The inquiry, to be led by Guy Newey, QC, was ordered by Alan Johnson, the Trade and Industry Secretary, after a preliminary inquiry for the Department of Trade and Industry raised concerns. Witnesses can be forced to give evidence to the inquiry.
Continue ReadingApollo Tyres Suspends Production: Update
Following yesterday’s news of strike action at Apollo Tyres’ Vadodara factory the manufacturer has released more details of the circumstances surrounding the “illegal strike.” The industrial action is being conducted by only one of the three unions representing workers at the plant that employs roughly 3000 people, an Apollo Tyres spokesperson told Tyres & Accessories. None of the manufacturer’s other factories are reported to be involved in the troubles.
Continue ReadingGetting the Message Across
MIRA (Motor Industry Research Association) and RoadSafe welcomed both journalists and ‘opinion formers,’ including representatives from the AA, police and RoSPA, to the association’s test grounds in Nuneaton last month, to host comparative tyre tread depth tests and to promote the industry’s 3mm tyre replacement cause. To read more go to Subjects in Focus
Continue ReadingGetting the Message Across
“The UK aftermarket industry must play a key role in bringing the findings of new research into tyre performance to motorists’ attention” – this was RoadSafe’s message at its recent ‘safety in the wet demonstration,’ a message it successfully managed to impress on guests. MIRA (Motor Industry Research Association) and RoadSafe welcomed both journalists and ‘opinion formers,’ including representatives from the AA, police and RoSPA, to the association’s test grounds in Nuneaton last month, to host comparative tyre tread depth tests and to promote the industry’s 3mm tyre replacement cause. Guests were offered the opportunity to take part in a practical demonstration that aimed to further impact the tyre safety message. Four cars, each with one of the specified tread depths, 8mm, 4mm, 3mm or 1.6mm were available for guests to complete wet braking tests. The results were strikingly clear, the lower the tread depth the longer and further it took to stop the vehicle. A simple exercise, a simple message; yet despite the simplicity a large percentage of motorists drive on illegal levels of tyre tread. What the 3mm working group says is that it’s up to the UK tyre industry to do something about this and promote change.
Continue ReadingMEPs Vote to Rein-in Bull-Bars
MEPs have backed EU plans for tighter controls on the use of ‘bull bars’ on cars, in a bid to minimise injuries to pedestrians and cyclists. The European Parliament voted at a first reading on new EU laws setting out tougher safety standards and strict tests for new cars built with frontal protection systems to improve pedestrian safety.
Continue ReadingGoodyear Reorganises Off-The-Road
Goodyear Dunlop has reorganised its Off-The-Road department, promoting Mark Turner into the role of key accounts manager for OTR SBU. Currently farm tyre sales and training specialist, Mr Turner will now focus on key accounts, and the development of farm, industrial, ATV and Terra tyres with dealer customers throughout the UK. In his new role Turner will continue to run the show calendar for Goodyear Dunlop and will maintain his training responsibilities.
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