Hankook a tyre supplier for Euro 6 Atego
In addition to supplying original equipment tyres to various MAN truck models, Hankook Tire has also secured original equipment approval for the vehicle said to be the best-selling distribution truck in the world, the Mercedes-Benz Atego.
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‘Obligations not fulfilled’ – Point S Development gives its side of the Dutch break-up story
In a statement released today, Point S Development has confirmed the March 2014 cancellation of the master franchise contract signed with shareholders in the Netherlands in 2010. A new Dutch headquarters, Point S Holland, has now been created. The statement arrives a day after Wim Reijmerink – managing director of the now defunct Point S Nederland operation – told Tyres & Accessories that a number of former partners were holding discussions to form their own tyre dealer cooperative.
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Hungary confirmed for first Apollo greenfield factory outside India
Apollo has confirmed Hungary as the location for its first greenfield facility outside India. The manufacturer says that Hungary was chosen having considered some of its neighbouring Central Eastern European and Asian countries. Apollo’s latest investment, which is planned to total 475m euros over the next five years, was approved by its Board of Directors today.
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Point S split in the Netherlands – “No winners, just losers”
For many years Point S Development has been coated in the glossy sheen of constant growth, but now a scratch has appeared in this growth story – and more than a dab of polish is needed to buff it out. The organisation’s Dutch operation is in acute danger of splitting in two as many local Point S partners consider the return on their master franchise fee too low, they see too little support coming from the company’s international headquarters and no real “European strategy”, and they wish to renegotiate their contracts. But the two shareholders in Point S Development – the national Point S organisations in France and Germany – appear uninterested in revising terms and conditions in the Netherlands, and therefore some Dutch partners are negotiating new franchise contracts elsewhere. Should Point S partners in other markets follow suit, we may see a process that results in no winners, rather only losers.
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Apollo Tyres to restructure African operation
Apollo Tyres Ltd has initiated voluntary business rescue proceedings for its Apollo Tyres Africa Proprietary Limited subsidiary. The company has informed the BSE that a specialist has been appointed to restructure its South African operation; the specialist’s evaluation will “decide the future course of action for the company in South Africa.”
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ZF acquires TRW Automotive, sells steering system business
A new “heavyweight” in the automotive components sector has been created today with the acquisition of TRW Automotive Holdings Corp. by ZF Friedrichshafen AG. TRW announced that it has entered into a definitive agreement with ZF Friedrichshafen, which will see all outstanding TRW shares acquired for US$105.60 per share in an all-cash transaction valued at approximately $13.5 billion. The announcement that TRW is changing hands followed a separate statement from ZF Friedrichshafen announcing the sale of its 50 per cent share in the ZF Lenksysteme GmbH joint venture to partner Robert Bosch GmbH for an undisclosed sum; this transaction is said to have been made to satisfy antitrust requirements prior to the acquisition of TRW.
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Citexpo 2014 reports record figures
Following the conclusion of Citexpo 2014 on 11 September, all initial figures point to the event being the most successful in the international tyre shows history...by some way. Indeed, with this years unaudited visitor total said to have been around the 11,000 mark, the 2014 show could have grown by as much as 50 per cent since the last event, which attracted just over 7,000 visitors.
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Michelin to buy Germany’s largest tyre wholesaler
According to information available to Tyres & Accessories, major European wholesaler Ihle Baden-Baden AG may soon belong to Michelin. The French tyre maker is said to be planning a 100 per cent acquisition of parent company Ihle Holding AG, whose assets include some 20 companies. Ihle Baden-Baden AG, which is headquartered in the spa town that serves as its namesake, is Germany’s largest wholesaler and enjoys an annual turnover of around €175 million (2012). German and other European authorities are conducting merger control proceedings.
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Protyre Motorsport becomes Michelin Formula E global tyre supply partner
Michelin has named Protyre Motorsport as its global tyre supply partner in the inaugural FIA Formula E championship. The Winchester based firm will supply and service the Michelin Pilot Sport EV tyre, which has been specially developed for the series. Protyre experts will co-ordinate logistics and trackside assistance to all teams over the 10 rounds of the innovative series.
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Dunlop tops Auto Express 2014 tyre test
UK motoring publication Auto Express has named the Dunlop Sport BluResponse the winner of its 2014 test of the popular 205/55R16 tyre size. The Dunlop tyre was rated the top performer in three of the nine test criteria and came second in a further two. Test runner-up was its Goodyear stablemate, the EfficientGrip.
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Apollo Tyres launches Manchester United ‘Apollo Challenges’ competition
The word to Louis van Gaal is that Manchester United must finish ‘no lower than third’ in the Premier League this year, and should the recently-appointed manager meet this expectation it will be a marked turnaround of last season’s fortunes. Sponsors, such as tyre makers Federal, Multistrada and Apollo Tyres – the latter official partner for the club in 69 countries – also stand to benefit from a better year on-field.
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Pirelli confirmed for three more Superbike seasons
It has already served as official tyre supplier to the FIM Superbike World Championship for a decade, and Pirelli’s technical partnership with the series has now been confirmed for a further three years after winning the tender organised by promoter Dorna in agreement with FIM, the International Motorcycling Federation. Pirelli will thus continue as sole tyre supplier for all Superbike World Championship classes until the end of the 2018 season, and the tyre maker views the longevity of its relationship with Superbike as vindication of its initially controversial support for a single-supplier solution.
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Rösler sells Zeus tyre fill business – MD explains why
On 2 September, US-based polyurethane, plastisol and recycled rubber product manufacturer Accella Performance Materials Inc. (known before May 2014 as Dash Multi-Corp) announced its acquisition of Rösler Tyre Innovators’ “Zeus” tyre fill business for an undisclosed sum. Zeus has become a subsidiary of Accella Polyurethane Systems will operate as Zeus Tyrefill Systems GmbH. Speaking with Tyres & Accessories, Paul Rösler Jr, joint managing director of Rösler Tyre Innovators, provides some further details of the deal and explains why the company decided to exit the tyre fill production business.
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Citexpo 2014 opens its doors to record crowds
Citexpo 2014 opened its doors today to what looks like will be record breaking numbers of visitors by the end of the week. According to Reliable Exhibitions (the show organiser), China International Tire Expo, as it is more formally known, saw at least 5,200 visitors pass through the doors of the Shanghai Everbright Exhibition Centre during the course of the opening day. Inside, visitors found large, modern stands from the shows 348 exhibitors (up 13 on last years total) spread across four halls for the first time in the shows 12-year history.
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