Schaeffler Accused of Blocking Continental Merger
Continental AG chief executive, Dr Karl-Thomas Neumann, has reportedly written to the Schaeffler Group’s family owners alleging Schaeffler has tried to block the two companies’ merger with “incorrect assumptions about the company’s value and a reluctance to agree to key points.” According to the Financial Times, the letter alleged that Schaeffler’s banks had “communicated an unrealistic value of 12 billion euros (£10.325 billion; $17 billion) for the automotive supplier. FT reports that Dr Neumann is now “heading for a showdown with Schaeffler at [the] supervisory board meeting next week, when he will push for a decision on several key points as a basis for a merger of the companies.” The financial newspaper described a proposal document Dr Neumann has presented to supervisory board members ahead of the meeting. In it he demands that the combined group strive toward an investment grade rating as quickly as possible: “From 2010, the group should have a maximum net debt of three times operating profit (earnings before interest, tax, depreciation and amortisation) and equity ratio of 25 per cent, the document says.”
Continue ReadingHayes Lemmerz Receives Daimler Truck Award
Hayes Lemmerz International has become one of a small number of companies acknowledged by Daimler Trucks North America for meeting its rigid quality requirements and expectations. This recognition came in the form of a Masters of Quality Award for 2008. It is a great honour for us to receive this high recognition for quality excellence from one of our valued customers, said Donald Hampton, Jr., Vice President, North American Operations. We are proud of our Akron facilitys accomplishments. Our Akron facility, like all of our global facilities, is committed to continuing to deliver world-class products to Daimler Trucks and all of our global customers.”
Continue ReadingApollo Tyres to Supply 50% Nissan Truck South Africa OE Needs
Apollo Tyres South Africa recently won the contract to supply half of Nissan Diesel’s truck tyre requirements. Nissan Diesel SA (Pty) Ltd, based in Rosslyn Pretoria, have reportedly chosen Apollo Tyres South Africa (formerly known as Dunlop International) to supply the Dunlop brand steel radial truck tyres, in an “open-ended contract.” The deal with Nissan Diesel is the single largest original equipment deal secured with a vehicle manufacturer since the reinstatement of Apollo Tyres South Africa’s Original Equipment department early last year. Dr Luis Ceneviz, Apollo Tyres South Africa’s CEO said: “We are proud to be collaborating with Nissan Diesel as both companies share a common goal of exceeding customer expectation and growing its share of business. We look forward to many more such partnerships into the future.”
Continue ReadingCooper Responds to Consumer Demand with New Sizes
Cooper Tire & Rubber has announced that, in response to consumer demand, it has added new sizes to a number of its tyre line-ups. These new sizes, the company states, form part of its effort to ensure replacement tyre buyers have the ability to make the right tyre purchase for their vehicle. The expanded Cooper tyre ranges include the following additions:
Continue ReadingRomanian Hospital to Benefit from Pirelli Sponsored Training
Pirelli Tyre has signed a memorandum of cooperation with Romania’s Health Ministry, pledging to finance a training programme for staff at a hospital in Slatina, where the Italian company’s Romanian factory is located. Medical staff from the County Emergency Hospital’s Emergency Reception Unit will receive training at Milan’s Niguardia hospital, continuing a cooperation between the two units that began around a year and a half ago. The document was signed in Slatina by Pirelli Tyre’s Romania director Enrico Malerba and Romanian health minister Ioan Bazac on July 23. Italy’s ambassador to Romania, Mario Cospito, also attended the signing ceremony.
Continue ReadingApollo Chairman Speaks on ‘Signs of Revival’
While addressing shareholders at the Apollo Tyres Annual General Meeting, company chairman Onkar S Kanwar expounded upon what Apollo has gained and learned in the past year. His topic, titled ‘Navigating a Slowdown’, centred upon the company’s business model, which according to Kanwar has enabled Apollo to remain afloat during the recent slowdown. This business model, Kanwar explained, covers Apollo’s three main principles: domestic markets, cost and quality initiatives. Sticking to this tried and tested business model has paid dividends during the past twelve months, he added. “Last year’s crisis has allowed your company the opportunity to break structures and behaviours that sap productivity and effectiveness out of organisations. It has allowed your company to realign itself to a new reality.
Continue ReadingApollo Net Sales Up 24% in Q1
The unaudited Apollo Tyres results for the first quarter of the 2009-10 financial year, announced on July 23, show an overall year-on-year 24 per cent growth in revenues to Rs 16.3 billion (£204.8 million). Operations within India alone generated sales of Rs 11.8 billion (£148.3 million). Earlier in the day, shareholders approved an annual dividend payout of 45 per cent per share for the year ended March 31, 2009. “Your company’s continuing attention to increasing efficiencies across the board and re-aligning costs to protect margins have paid high dividends,” commented Apollo Tyres chairman Onkar S Kanwar. “This has assisted us in improving margins and enabled your company to remain competitive.”
Continue ReadingYokohama Awarded for Performance in Philippines
Established in 1996, Yokohama Tire Philippines was the first international company to establish a presence in the Clark Freeport Zone, the redevelopment of the United States Air Force’s former Clark Air Base. In acknowledgement of its long-term contribution to the zone in terms of investment, employment, environmental management and employee heath and safety, on July 13 the company received an Outstanding Recognition for Overall Performance award from the Clark Development Corporation (CDC). At the ceremony, Philippines president Gloria Macapagal-Arroyo presented the certificate of commendation to Yokohama Tire Philippines president Takayuki Hamaya.
Continue ReadingFalcon Tyres Divesting to Remain Listed
A chunk of Ruia Group company Falcon Tyres will be sold in order to increase ouput at its factory in Mysore, eastern India, and to ensure its promoters shareholder remains below the 75 per cent required to stay listed on the Bombay Stock Exchange. The share, according to Indian media, is to be sold to a private equity firm for Rs 1 billion (£12.6 million). “We are in the process of preparing our presentation and hope to be through with the placement within the next two months,” Falcon Tyres chairman Pawan Kumar Ruia told the Hindu Business Line. Ruia reports that the promoters’ share in the company went up to 86 per cent following the recently concluded open offer requiring either a public issue or private placement.
Continue ReadingMore US Miles Logged in May
After April 2009 broke the nearly year-and-half streak of falling year-over-year monthly mileage, it is welcome news that May continued the trend. Preliminary total vehicle travel reports from the U.S. Department of Transportation show a 0.07 per cent increase compared to May 2008. The year-to-date total remains down, 0.82 per cent compared to the same time in 2008, however that is also an improvement. In May of 2008, year-to-date travel was 2.5 per cent lower than 2007 levels. Total travel in May was 257,311 million miles, and 29 states posted increases in mileage. Rural travel increased by 0.83 per cent, while urban travel fell 0.17 per cent compared to May 2008. The rolling 12-month total is 2.77 per cent lower, however last month it was down 3.1 per cent, so the trend is certainly positive. (Tire Review/Akron)
Continue ReadingToyo Website Wins ‘Best in Class’ Award
Toyotires.com, the website representing Toyo Tire USA Corp., recently won “Best in Class” in the Consumer Goods category of the 2009 Interactive Media Awards. Designed and developed by Garrigan Lyman Group of Seattle, Washington, toyotires.com was created for the US market and provides a full insight into the Toyo Tires brand, according to the company. The Interactive Media Awards are judged and presented annually by the Interactive Media Council, Inc., a non-profit organization consisting of lead web designers, programmers, advertisers and web-related professionals. Toyo said clean visuals, easy navigation and ready access to continually updated product data are some of the elements designed into the new toyotires.com. The site is designed to inform consumers better about the full line of Toyo Tires’ products, including tyre applications for passenger cars, light trucks and commercial vehicles. The site also serves as a resource tool for authorized Toyo Tires dealers. “We are proud that toyotires.com has been acknowledged by the interactive community,” said Julie Sediq, director of marketing communications. “Garrigan Lyman Group did a fantastic job of creating a website that conveys our position as a premium brand and delivers a positive user experience.” (Tire Review/Akron)
Continue ReadingAutopromotec 2009: New Parker TyreSaver 3.0
“The air we breathe consists largely of nitrogen, oxygen and water. The oxygen and water contained in compressed air has a negative impact on tyres and will influence handling, fuel efficiency, tyre life and rim condition, the environment and your own safety. The solution is to inflate tyres with a high concentration of nitrogen. Tyres filled with nitrogen last longer, are safer and more eco-friendly. In the future, every driver will have nitrogen inflated tyres,” claimed product manager at Parker Filtration and Separation B.V., Robin Biemans. A new design and engineering project has seen the company produce a new nitrogen tyre inflation tool. It can be used to inflate car, motorcycle, trailer and van tyres. The TyreSaver 3.0, describes Parker, is a robust, lightweight, mobile, nitrogen tyre inflator for the automotive industry, with low investment costs, making the company certain that it has a high sales and profit margin potential. “This workshop tool can be connected to a compressor and automatically generates nitrogen from compressed air; a simple concept that is, above all, inexpensive. This means that the investment will pay for itself in no time at all. The TyreSaver 3.0 is fitted with an exchangeable membrane cartridge that will operate for thousands of tyre inflations. The patent is currently pending,” continued Robin Biemans.
Continue ReadingBridgestone North America Adds Two to Blizzak Line
This season, two new tyres are being added to the Bridgestone Blizzak line: the Bridgestone Blizzak DM-V1 and LM-60, each suited for vehicles ranging from light trucks and SUVs to sports cars and sedans. The Bridgestone Blizzak DM-V1 will be available in 46 R-speed-rated sizes ranging from 15 inches to 22 inches and 75-45 series. Replacing the DM-Z3, the DM-V1 is designed to disperse surface water and improve grip. A directional tread pattern and 3-D sipes enhance dry performance and continuous lug design and center tread grooves increase traction in the snow and ice, according to Bridgestone. Designed in response to unique road conditions in the US and Canada, the Blizzak LM-60 incorporates continuous lugs and zigzag sipes to improve snow and ice traction. Circumferential grooves channel water out of the tyre’s footprint area to resist hydroplaning and a directional tread pattern and 3-D sipes enhance dry performance of the LM-60, Bridgestone said. Available in 34 H-speed rated sizes from 17 inches to 20 inches in the 60-35 series, the LM-60 consolidates existing Blizzak tyres into one H-rated tire line. This consolidation includes the Bridgestone Blizzak LM-18, LM-22, and the LM-25. (Tire Review/Akron)
Continue ReadingBridgestone Previews MotoGP’s UK Round 10
Donnington Park will host the tenth round of the MotoGP championship this weekend, with Bridgestone supplying riders with Soft and Medium slick compounds for front and rear. The manufacturer believes that last year’s predictably unpredictable weather will carry over to this year’s race, having a major impact on its outcome, even though the British round is held one month later this year as a result of a change-around in the MotoGP calendar. Due to the cooler British climes and the smooth and flowing nature of the Donington Park circuit, Bridgestone has selected the softest tyre compound options for this weekend: the soft and the medium compound slicks. The soft compound wets will also be available, as used in Le Mans and Mugello. Donington is a medium-slow circuit with a low-grip surface that traditionally has been a tricky one for Bridgestone, despite the result of the wet but slowly drying 2007 race, when Casey Stoner and the Ducati Team brought Bridgestone’s first victory at Donington, and Rizla Suzuki’s Chris Vermeulen finished third.
Continue ReadingGoodyear and Haweka Promote Benefits of Tractor Wheel Alignment
The importance of correct wheel alignment is already widely conveyed in the truck and passenger car segments. In these parts of the market customers have been hearing about how correct alignment improves road comfort, fuel consumption and prevents premature wear for years. But what about the off-road and agricultural segments? Is it worth aligning vehicles that are literally designed to face the axle jolting lumps and bumps other drivers try to avoid? Goodyear and Haweka certainly think so. In June Goodyear and Haweka teamed up to promote an agricultural wheel alignment programme that will see the two-companies promote the benefits of wheel alignment to customers, dealers and vehicle sales offices. Goodyear is communicating the tyre alignment message because, according to the company, tough economic times mean improving fuel consumption and preventing the costs that come with premature tyre wear are more important than ever. A similar partnership between the German branches of the two companies has been in operation for some time.
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