Cooper Tire gives Chengshan option to buy, values CCT at US$435 million
Cooper Tire & Rubber Company has signed an agreement with Chengshan Group Company Ltd. According to the Findlay, Ohio-based tyremaker, the deal begins with the commitment that the Chinese joint venture Cooper Chengshan Tire (CCT) business will be independently valued and is said to position Cooper to resume regular financial reporting. Tyres & Accessories understands that the deal sets a floor value of at least US$435 million for the total company and perhaps more if the independent valuation comes in higher. Cooper’s share price rose 2.75 per cent (correct at time of publication) in response to the news.
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Sailun involved in Kings Road Tyres acquisition
Tyre manufacturer Sailun has confirmed to Tyrepress an “indirect interest” in Kings Road Tyres. While the direct players in the investment group have yet to be fully confirmed, Sailun’s indirect interest gives some indication of potential tyre industry figures involved in the partnership, confirmed to involve Chinese, European and North American interests.
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Goodyear coach tyres anticipate 2018 EU vehicle weight increases
Coach travel’s status as one of the most fuel efficient modes of transport will be boosted further by an increase of the EU weight limit for passenger service vehicles to 19 tonnes. To maximise the efficiency and profitability further – as well as to comply with safety requirements – premium tyre manufacturers in particular are readying their commercial vehicle ranges, with specialised lines delivering load capacity increases and improved, coach-specific characteristics. Goodyear states that its Marathon Coach and Ultra Grip Coach tyres have been developed with load capacities in anticipation of regulation changes proposed by the European Union.
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TREC: Michelin partners to extract alcohol and rubber from used tyres
Four French companies are partnering in a project to develop further applications for used tyres. Work is being carried out under the TREC project name and Michelin’s leadership; TREC is backed by a €51 million budget that extends over an eight year period and includes €13.3 million that Frances Agency for the Environment and Energy Management (ADEME) is providing to Michelin and one other partner, SDTech, as part of the French government’s “Investing in the Future” programme. The project covers all stages of research and development processes, from the definition of scientific concepts to pilot testing and validation on an industrial demonstrator. Michelin says at least one of the project’s outcomes is expected to tie in with the BioButterfly project that began last year.
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“The Tire Cologne” – details of show to rival “Reifen” announced
Between 29 May and 1 June 2018, a new exhibition aimed at the international tyre industry will take place in Germany. “The Tire Cologne”, as the show will be called, will be supported by current Reifen show main sponsor the BRV (the German Federal Association of the Tyre Trade and the Vulcanisers’ Skilled Trade), and the plan is to hold the event every two years. Regular Reifen exhibition visitors may already note that the dates for The Tire Cologne coincide with this year’s show week in Essen and, presumably, those planned for future events – a sign that the BRV and Koelnmesse consider the future Cologne trade exhibition the heir apparent to the European tyre show throne.
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The Nation’s Favourite Van
New research published by Direct Line for Business, reveals the A-team’s classic GMC Vandura is the nation’s favourite van. Despite the cult TV show ending in 1987 the A-team van has become an enduring pop culture icon capturing 43 percent of the vote. Thousands of Britons voted the iconic black and metallic grey vehicle with is characteristic red stripe, driven by Sergeant Bosco Albert B.A Baracus played by Mr T, in the show as their favourite.
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Pirelli 2014 F1 tyres first details, special winter spec tyre for Jerez
Pirelli has released the first details of its Formula One tyre line-up for 2014 ahead of the first winter test in Jerez. The supplier will bring new tyres designed to operate with the wide range of regulations brought in for the 2014 season, which Pirelli describes as a “technical revolution”. Headlined by the presence of […]
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Rema Tip Top unveils UK TPMS strategy
While Rema Tip Top has a significant Tyre Pressure Monitoring heritage, it might be said that the TPMS part of their offering has been flown somewhat under the radar – in the UK at least. Now however, the company’s management is sharing details of its broad offering in what is quickly becoming an important part of the professional tyre retail business.
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Automotive suppliers, smart cars, intelligent tyres and safety concerns
The proliferation of electronic driver assistance systems is making the average vehicle more dependent on computing power than ever before. The latest trends see cars becoming more connected to their user’s personal computing systems and the Internet than ever as well. The combination of the two raises security questions, but are they valid and how does all this related to the tyre/TPMS business?
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£3.5m investment to support Dmack PCR, TBR, motorsport range expansion
Carlisle-based tyre brand Dmack has secured an investment of £3.5m from private equity managers Maven. The injection of funds will help to fund the next stage of its growth, according to Dmack, boosting its production capacity and range of road-going and motorsport tyres.
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‘Reifen’ show moving to Cologne
The trip to Essen every two years has been a fixture for those active in the tyre industry within Europe and beyond for around half a century, but as of 2018 the renowned Reifen exhibition will have a new home some 45 miles away. The show’s organiser took the decision to leave the city synonymous with the exhibition after plans to modernise the ‘Messe Essen’ site were turned down by a local referendum on 19 January.
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Strategic investment group buys controlling interest in Kings Road Tyres Group
A controlling interest in Kings Road Tyres Group (KRT) has been acquired by a strategic investment group with members in China, Europe and North America. The UK management team, which bought out the company in the second half of 2011, will “continue to retain a significant equity position in the company and will maintain responsibility for day-to-day operation of Group businesses,” said a statement issued to Tyrepress by KRT today. The company said that the deal would “secure significant new equity investment” for KRT, which it said would help it develop its position as one of the leading players in the UK tyre industry.
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Randall appointed managing director of Halfords Autocentres
UK automotive and cycling services retailer, Halfords Group has appointed Andy Randall as managing director of its garage servicing and auto repair business, Halfords Autocentres. Randall joins the business in March.
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Micheldever extends GT Radial Exclusive Distribution Agreement
Giti Tire and Micheldever Tyre Services have renewed their Exclusive Distribution Agreement (EDA), extending the wholesaler’s sole UK supply rights for GT Radial passenger car, 4x4 and light truck tyres for the next three years. Under the terms of the agreement, which began in 2010, Micheldever will continue to develop the GT Radial Performance Centres (GTPCs) network as a priority while utilising the product offering to expand other wholesale and VMA business.
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