Kwik-Fit: Business as usual for fleet customers
Kwik Fit Group’s fleet division has added its voice to Stapleton’s in saying that, following the tyre retail giant’s takeover by Itochu, it is business as usual. In a press statement the fleet business said: “following the sale agreement it is ‘business as usual’ for fleet and retail customers across its network in the UK as well as in the Netherlands and France where the company also operates.”
Continue ReadingItochu's Kwik-Fit and Stapleton’s to be run as separate entities
Following the news that the Japanese conglomerate that own Stapleton’s Tyre Services has bought Kwik-Fit, Itochu has clarified that while the group is interested in “know-how” synergies between the businesses, they will continue to be run as completely separate entities.
Continue ReadingKwik-Fit confirms Itochu is new owner
Kwik-Fit Group has confirmed earlier reports that PAI Partners has sold the fast fit chain to the Japanese Itochu Corporation for £637 million. The purchase price is said to include £457 million of debt, which will be paid off in full at completion, according to a Financial Times report. The deal is reportedly Itochu’s biggest investment in the UK and follows its acquisition of Stapletons in 1994. The company is also already talking about the potential synergies between the two businesses:
Continue ReadingDunlop renews motocross title assault with factory teams
Dunlop has announced that its Geomax tyre is the choice of factory-backed teams from Honda, Yamaha and KTM in both MX1 and MX2 classes of the 2011 Motocross World Championships. Dunlop’s links with Motocross go back to the beginnings of the sport. The brand has a “race-to-road” (or in this case “off-road”) policy with motorsport, and using it as a “high-pressure development laboratory teaches the designers important lessons,” which can be passed on to customers, incorporated directly into the production tyre range.
Continue ReadingPirelli signs agreement with Genan for recycled tyre rubber reuse research
Pirelli has announced that it has signed a research agreement with Danish tyre recovery company Genan to find ways of reusing industrial raw materials in tyre production. Managing director of Pirelli Tyre, Francesco Gori said: “Being able to reduce the dependence of the production cycle on natural rubber by 10 per cent could produce considerable savings”. Gori also said the use of materials recovered from tyres could become a necessity based on “sustainability”.
Continue ReadingMIRA to invest £300 million in becoming ‘Europe’s most advanced independent testing facility’
MIRA has announced its intention to become a £100million business within the next 10 years. The well-known independent test centre, which is home to test garages belonging to Dunlop, Continental, Giti and Kumho to name but a few, says the business’ growth will see MIRA become the most advanced independent transport technology facility in Europe. And the operation reports that it is willing to commit £300 million to investment in new infrastructure at its Midlands base.
Continue ReadingEuromaster: pan-European cold weather tyre demand reaches “all time high”
It was widely predicted that the winter, or cold weather tyre market would experience growth in Europe this winter; indeed, the question turned from whether there would be growth to how much of a leap this winter would see. The Euromaster Group has now announced that demand for cold weather tyres across Europe saw volumes reach an all-time high. Its sales alone of the high-grip seasonal car and van fitments exceeded 1.5 million units for the first time, rising by 20 per cent from 1.4 million in 2009 to 1.68 million in 2010. In the UK, volumes sold by ATS Euromaster have risen over the past two winters by 955 per cent.
Continue ReadingApril launch for Yokohama BluEarth in Europe
Yokohama Rubber says its preparations for the 2010 European tyre label are to be strengthened through the April release of its BluEarth-1 range, which it says has achieved an ‘A’ grade rating – the highest possible – for fuel economy under the upcoming label’s expected classification system. The BluEarth-1 is the first of a series of BluEarth products that will be launched in Europe; the product family was first publicly previewed at January’s Tokyo Auto Show, where the top of the line BlueEarth-1 was displayed alongside the premium BluEarth RV-01 minivan tyre and the standard BluEarth AE-01.
Continue ReadingConti reports global growth in winter, OEM sectors
On March 3 Continental AG will hold its annual press conference, at which it will provide detailed information on its performance in 2010, a year in which the automotive supplier says it emerged from the crisis “in impressively good shape.” The company has already reported an increase in annual sales from 20 billion euros in 2009 to “at least” 25.5 billion euros last year, a figure helped by the “positive performance” of the company’s car tyre division.
Continue ReadingTyre Maintenance promotes “green credentials” with RRS
With four locations spanning northern to southern England, Tyre Maintenance Ltd says it has long been “committed to best practice in used tyre recycling”, a fact it intends to publicise in 2011 with TIF Responsible Recycler Scheme branding. Throughout 2011 Tyre Maintenance outlets, vehicles, documentation and letter heading will be progressively branded with the RRS logo and staff will be tutored to understand just what this implies for the customer and for the environment.
Continue ReadingItochu Buys Kwik-Fit for £637 million
Kwik-Fit has reportedly been sold to the Japanese conglomerate that owns Stapleton’s, Itochu Corporation. According to a City AM report, the deal follows the signing of a three digit million pound deal yesterday (1 March 2011). The article suggests Kwik-fit’s former owner, private equity firm PAI Partners” has “cashed out” of its six-year ownership of the chain for “£637 million, which includes net debts of £457 million.” A Kwik-Fit spokesman refused to confirm or deny the reports when Tyres & Accessories asked for confirmation of the news. Either way, the reports suggest the deal is still subject to regulatory approval.
Continue ReadingVredestein launches Europe-wide billboard campaign
The burghers of 37 European cities are the target audience for Vredestein’s largest ever billboard campaign. To coincide with the opening of the Geneva Autosalon, the Dutch brand has taken a total of 10,156 square metres of advertising space in prime locations.
Continue ReadingSailun pleased with Canadian test showing
Sailun has stated its satisfaction after receiving plaudits for its new Sailun Atrezzo Z4+AS high performance tyre in a recent independent tyre testing event in Toronto, Canada. Canadian automotive journalist John Mahler of the Toronto Star put three BMW 3-series through a number of tests on the Mosport facility, utilising the skid pad, an adjacent giant exercise area and a short public road loop. Tyre longevity was not part of the test. The Atrezzo Z4+AS performed particularly well in the ride quality (where it was placed first of six) and noise tests, where it was the equal quietest. The drivers also said they were impressed with the sporty, aggressive-looking tread pattern.
Continue ReadingBenoit Raulin joins Nokian board
Alongside the publication of Finnish Tyre manufacturer Nokian’s 2010 figures, the company announced a new addition to its board of directors. Benoit Raulin previously served as managing director of Bridgestone Deutschland GmbH and was appointed vice president Finance & Procurement at Bridgestone Europe NV/SA on 1 October 2010.
Continue ReadingNTDA and ECI reach sponsorship agreement for Brityrex 2012
The National Tyre Distributors Association (NTDA) is to sponsor the next staging of Brityrex International in 2012 after reaching an agreement with the show’s organisers, ECI International. The association has been a long-term supporter of the UK’s only dedicated tyre and workshop equipment trade show and believes it plays an important part in the industry’s business calendar.
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