Conti outlines new loan agreement
German tyre maker and automotive supplier Continental has improved its debt maturity profile through the signing of a new syndicated loan agreement. Committed to by approximately 30 domestic and international banks, the credit amount has been reduced slightly. It now totals 4.5 billion euros and is split up into two tranches of differing duration – a 1.5 billion euro loan with a term of three years, and a five-year, 3 billion euro revolving credit line. For the new syndicated loan, Continental has been able to obtain the release of the asset collateral previously put up for financing and has also implemented “further simplifications” with regards to the documentation.
Continue ReadingBigger and faster: Superbike also gets the Pirelli treatment
It isn’t just Formula One whose tyres have, in Pirelli’s words, undergone a “revolution”. In this, the tenth consecutive season of single tyre supply to the Superbike series – the longest single tyre supply agreement in the history of motorsport – the Italian firm is ready for the switch from 16.5-inch to 17-inch tyres.
Continue ReadingMore overtaking, pit stops – Pirelli talks about its new F1 tyres
Those wanting to see more overtaking action in Formula One won’t be disappointed by what Pirelli has in store. During today’s presentation of Pirelli’s 2013 motorsport season, the Italian tyre maker detailed its new F1 tyres. It stated that this year the P Zero dry weather and Cinturato wet weather ranges have been “completely revolutionised,” having been developed “according to the wishes of the teams and the latest rules from world motorsport’s governing body, the FIA.” Pirelli says the objective of all these innovations, which work closely together, is to improve performance and increase thermal degradation, to ensure at least two pit stops per race and open up more strategic options for all the teams.
Continue ReadingTrelleborg adjusts figures to reflect new business structure
Following the organisational changes announced late last year, the Trelleborg Group has recalculated its business area quarterly data for the years 2007 to 2012. Results are now tabulated under the “Coated Systems”, “Industrial Solutions”, “Offshore & Construction”, “Sealing Solutions” and “Wheel Systems” business areas. This recalculation has resulted in little change for the Trelleborg Wheel Systems tyre and wheel business.
Continue ReadingE-Commerce B2C a Delticom highlight in a “challenging” 2012
The traditionally upbeat tone of Delticom’s financial reporting was slightly muted upon release of the company’s 2012 preliminary full-year figures on 23 January. The German-based online tyre retailer described 2012 as a “challenging year” and the market environment as “difficult.” Full-year revenues amounted to 456.4 million euros, a 4.9 per cent decrease on 2011.
Continue ReadingLayoffs coming at Goodyear’s Danville plant
Due to weakened demand for truck tyres in North America, Goodyear Tire & Rubber is laying off 41 workers at its Danville, Virginia truck and aircraft tyre factory. Local newspaper the Danville Register & Bee writes that the layoffs will take effect on 4 February. In an article published 21 January, it quoted Goodyear communications manager Laura Singleton as saying hourly workers throughout the plant will be affected, with selections based on seniority; employees most recently hired will be laid off first.
Continue ReadingPirelli revealing 2013 motorsport plans today
Having officially ‘kicked off’ its 2013 motorsport season, later today Pirelli will share its news regarding the upcoming year. At 11:30am local time (10:30am GMT) the Italian tyre maker will conduct a press conference at its Milan headquarters; the event will be streamed online via the company’s website and viewers will be given the chance to submit questions to the Pirelli team through the company’s Facebook page.
Continue ReadingConti’s unorthodox OE fitments
After keeping mum about it for quite a while, Continental has shared that its tyres play a key role in making the London Eye spin. The 442 foot (or 135 metre, for those reading this in metric) high Ferris wheel is spun by drive systems located in towers at each end of the boarding platform; these systems’ hydraulic motors rotate the wheel via friction rollers, and Continental HSR (Heavy Steer Regional) tyres fulfil this role.
Continue ReadingLevelling off or still falling?
It has been quite a month for the forecasters. Not the weather forecasters mind you – although the winter weather that has sprinkled the UK and parts of Europe with a fresh dusting of snow will no doubt have kept them busy too – but rather the market forecasters. With ETRMA reporting that tyre unit sales fell off a cliff last year, Conti saying the market is likely to bottom out in 2013 and with other analysts predicting 2013 will be a good year for tyre retailers, what is on the horizon for the next 12 months?
Continue ReadingMichelin: Tyre sell-in unit volumes weak in December
The latest tyre market data published by Michelin is being read as a warning signal by market analysts. The figures, which reflect demand trends in December and for 2012 as a whole suggest tyre sell-in unit volumes were weak. European light vehicle replacement sales, specifically, continued to slip (-7%), despite falling 19 per cent year—on–year in December 2011. Overall this is being interpreted as a response to a poor winter tyre season.
Continue ReadingVianor and Wissol cooperating in Georgia
At the tail end of 2012, Nokian Tyres plc has signed a co-operation agreement with the Wissol Group conglomerate to expand its Vianor retail chain into Georgia. With this agreement, Wissol Group’s 15 existing “AutoExpress” retail outlets will be re-branded as Vianor. In the future, the chain will also be further developed and expanded under the Vianor brand.
Continue ReadingHankook liveries rolled out by Drummond Distribution
Drummond Distribution, a logistic provider for Hankook, has rolled out new liveries featuring the manufacturer’s corporate identity. The family run business, Drummond Distribution has worked with Hankook for over 12 years providing a next day delivery service to customers across Scotland.
Continue ReadingKit-Kat trailers roll on Michelin X One Maxitrailer Tyres
Four years after trialling its first Montracon trailer with Michelin X One MaxiTrailer tyres, Nestlé Customer Logistics reports that 25 per cent of its 200-strong tri-axle ‘Cooliner’ fleet is operating on the uniquely sized 455/45 R22.5 tyres. Nestlé Customer Logistics’ fleet operates on trunking routes between its production facility in York – which makes 6 million Kit-Kats a day – and distribution hubs throughout the UK. Moving forward, engineering manager Ralph Defty specifies the Michelin tyre on all new standard length trailers joining the fleet.
Continue ReadingAvon Storm 3D X-M offers 15-20% higher mileage than predecessor
Following the introduction of the 3D Ultra last year, Avon is further expanding its motorcycle tyre range with the release of the Storm 3D X-M. In a short release introducing the new product, the tyre maker says the new X-M delivers 15 to 20 per cent greater mileage in comparison with the current Storm range. The sipes on the X-M also contain three-dimensional points that are designed to improve stability, grip, limit tread flex and allow the tyre to warm-up in less time – a feature also seen on the 3D Ultra. High performance single and multi compound super rich silica (SRS) treads are also present; Avon says these enhance wet grip. The tyre maker adds that the X-M possesses outstanding handling and stability qualities.
Continue ReadingSD-International: A quality choice of van patterns
As one of the UK and Europe's most progressive contract tyre manufacturers, Shanghai based SD-International offers four individual brand and pattern options to the van and light truck market sector with their Pace, Zeta and Maxtrek labels.
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