Euro Car Parts planning UK’s biggest parts distribution centre
Euro Car Parts has secured one of the largest industrial facilities in the Midlands with a view to turning it into one of the UK’s largest parts distribution centres. According to the company, the project is being funded by investment from parent company LKQ Corporation and will secure over 1,350 jobs for the local area and an additional 2,000 jobs in branches and head office.
In addition to serving as general manager of Toyo Tire & Rubber’s Europe business unit, president of Toyo Tire Europe GmbH, and president of Toyo Tire Deutschland GmbH – roles held since 1 July 2014 – Tatsuo Mitsuhata will as of 1 December 2014 take on the function of president, Toyo Tire Benelux B.V.
After delivering investors a net income of exactly no cents per share in the third quarter of 2013, this year Cooper Tire & Rubber exceeded analyst estimates to deliver US$0.77 per share, $0.05 higher than the consensus estimate. In reporting these much stronger third-quarter results, the company pointed out that its financial results from a year earlier were impacted by “a number of unusual circumstances,” including strike action and other issues at the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) joint-venture operation in China, which resulted in lower production and shipments; higher costs and lower volume associated with shipping inefficiencies related to ERP system implementations; and costs related to the then-pending acquisition by Apollo Tyres, a deal that was terminated at the end of the year. “As a result, many of the year-over-year comparisons are not representative of the business under normal conditions.”
Although Cooper Tire & Rubber will retain offtake rights for tyres produced by the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) plant in China after its ownership is fully transferred to Chengshan Group Company Ltd., the tyre maker is nevertheless looking for an alternate supply of tyres in China. Several options are under consideration; company chairman, chief executive officer and president Roy Armes outlined these at Cooper’s third quarter earnings call on 7 November.
October car sales push yearly figure past two million
SMMT figures reveal that new car registrations jumped 14.2 per cent in October to 179,714 units, marking the 32nd consecutive month of growth. 2,137,910 cars have been registered in the year-to-date – the first time the market has passed two million in October since 2007. Rising demand for alternatively-fuelled vehicles continued, with the market up […]
Pirelli provides medium, soft F1 P Zeros in Brazil
Interlagos, in the heart of Sao Paulo, is the second-shortest lap of the year after Monaco. Formula One tyre supplier Pirelli will provide medium and soft compound P Zero tyres to combat the challenges of its series of twists, turns and elevation changes. Long-range weather forecasts predict wet weather for at least part of the […]
Bridgestone to shod new Ninjas with Battlax rubber
Japanese tyre maker Bridgestone has teamed up with a couple of Ninjas in order to help maximise their performance. The Ninjas in question are the Kawasaki Ninja H2R and H2 supersport bikes, respectively launched on 30 September and 4 November; the pair will be fitted with Bridgestone’s Battlax tyres as original equipment. The Ninja H2R receives the Racing Battlax V01 in size 120/600R17 for the front wheel and size 190/650R17 on the rear, while the Ninja H2 comes with the Battlax Racing Street RS10 in size 120/70ZR17 M/C (58W) as standard on the front and size 200/55ZR17 M/C (78W) on the rear wheel.
Dmack rounds corner on 50th event at Wales Rally GB
The short history of the Dmack brand reaches a significant landmark next week at Wales Rally GB. The concluding chapter of the 2014 FIA World Rally Championship marks the brand’s 50th WRC event, and Dmack has announced a powerful line-up to take on its home round of the global series. Dmack will field Estonians Ott […]
Bridgestone Battlax RS10 original equipment for new Yamaha bikes
The soon to be released Bridgestone Battlax Racing Street RS10 sport radial will be fitted as original equipment on the new Yamaha YZF-R1 and YZF-R1M supersport bikes in Europe and North America. The range was launched at the EICMA International Motorcycle Show in Milan, Italy on 3 November; a size 120/70ZR17 M/C (58W) front tyres and 190/55ZR17 M/C (75W) rear tyre will be supplied for both models, while a size 200/55ZR17 M/C (78W) rear tyre will also be fitted to the YZF-R1M.
First Line releases Steering & Suspension catalogue
The First Line Group (FLG) has launched the latest version of its steering & suspension catalogue. The 7g edition covers applications for both car and light commercial vehicles. FLG calls the 1,551-page publication “more than just a catalogue,” with a buyers guide and thousands of part numbers for hundreds of applications included. A leading steering […]
Government, tyre industry unite to reduce tyre-related casualties
The UK tyre industry and various government agencies will forge a closer working relationship following a meeting hosted by PACTs at the House of Commons on 5 November. Both parties are jointly committing to increase efforts to reduce further the number of tyre related casualties which occur each year on the UK’s roads. Those attending […]
Apollo announces final Manchester United football challenge
The third and final skill test in the ‘Apollo Challenge’ has begun. Together with Manchester United F.C., tyre maker Apollo Tyres is encouraging football aficionados to demonstrate just how on target their shooting is with the Apollo Accuracy Challenge. This particular challenge sees Manchester United midfielder Ashley Young demonstrate the importance of accuracy, a quality Apollo Tyres argues is the most important skill for any footballer.
Bekaert-Pirelli steelcord deal expected to close in Q1 2015
Upon releasing its latest financial results, Pirelli provided an update on the deal to sell its steelcord business to Belgium’s NV Bekaert SA. The European Commission approved the transaction at the start of August, and Pirelli reports that it still remains subject to approvals in China and Turkey. The deal is expected to close between the end of 2014 and the first quarter of 2015.
Although profits are up at Pirelli so far this year and revenues are down, during the third quarter of 2014 the situation reversed itself. Revenues grew 3.0 per cent to €1,541.8 million in the three months between 1 June and 30 September; highlights of the quarter include a continuation of top-line growth continued in Europe and the NAFTA regions, and an acceleration in Asia Pacific. With year-on-year growth of 17 per cent, the Italian tyre maker outperformed the market’s 12 per cent growth. EBIT increased 1.9 per cent during the third quarter to €203.5 million, with 0.1 per cent shaved off the EBIT margin, which was 13.2 per cent for the period. Net income declined 1.7 per cent year-on-year to €106.2 million.
‘£2bn potential for UK auto parts supply’ – report
A new Automotive Council report has highlighted a fresh £2 billion growth opportunity for UK component suppliers as UK car makers enjoy an unprecedented period of success. The report, released at the recent Society of Motor Manufacturers and Traders’ (SMMT) Open Forum event at Cranmore Park, Solihull, assesses the ‘re-shoring’ potential for ‘upstream’ automotive suppliers […]
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