Has Schaeffler Puts the Brakes on Merger With Conti Automotive?
Schaeffler has reportedly brought its plans to merge with Continental’s automotive wing to halt, according to Germany’s Handelsblatt newspaper. If synergies can be had without a major merger, then it would not put a strain on the organisation, an unnamed source told the paper. However, the ball bearing maker’s spokesman confirmed, in an email to Bloomberg, that Schaeffler will: “Continue to work on the merger of both automotive operations…But it is certainly not a process that can be completed in the coming months.” Earlier, Hubertus von Gruenberg, a former Continental AG chief executive, resigned following what the Financial Times (FT) called a “tumultuous meeting of the car-parts suppliers board.”
Continue ReadingTwo Charged With Stealing Tyre Secrets From Goodyear
Two employees of a US company with links to a Chinese tyre manufacturer has been arrested and charged with conspiring to steal trade secrets from Goodyear Tire & Rubber. Clark Alan Roberts, 46, and Sean Edward Howley, 38, both engineers for Tennessee based Wyko Tire Technology, were arraigned before a federal magistrate in Knoxville, Tennessee on March 6, after being named in a 12-count indictment.
Continue ReadingArvinMeritor Joint Venture Company to Close Canada Plant
Meritor Suspension Systems Company (MSSC) – a joint venture between ArvinMeritor and Mitsubishi Steel Manufacturing – has announced plans to close its coil spring operations in Ontario, Canada. The company met with officials from the Canadian Auto Workers union on March 5 to discuss the closure plans and their impact on the plant’s 165 strong workforce. “We are experiencing unprecedented economic pressure within the global automotive industry,” said Gerald Anderson, president and general manager, MSSC. “This closure reflects actions we are taking to reduce fixed costs in response to significantly lower vehicle production volumes.”
Continue ReadingB&J Rocket Cancels Autopromotec Participation
B&J Rocket states it will not attend this year’s Autopromotec 2009 trade fair. Com"Our investment focus is on product quality and service", as Andreas Müller, managing director of B&J Rocket Sales AG, emphasises. "The intensive dialogue with our customers worldwide, personal and via our online media, has long been established on an ongoing basis."menting on this decision, the Swiss company notes that the worldwide financial situation compels companies to thoroughly look into their expenses.
Continue ReadingConti Supervisory Board Presents Board Nominees List
At its meeting on March 6, the Continental AG Supervisory Board adopted its proposals for shareholder representation to be submitted to a vote at the company’s Annual Shareholders’ Meeting on April 23, 2009. The nominees are: Prof. Dr. Hans-Jörg Bullinger, President of the Fraunhofer-Gesellschaft Mr. Gunter Dunkel, Chairman of the Executive Board of Nord/LB
Continue ReadingHankook Debuts in Le Mans Series
During the last few years Hankook has steadily increased its involvement in the European racing calendar, and the Korean manufacturer added the 2009 Le Mans Series and 24 Hours of Le Mans to the list of events in which it participates. The company made its debut appearance in the Le Mans series on the weekend of March 8, at the Paul Ricard Circuit in Southern France.
Continue ReadingConti’s Von Grünberg Steps Down From Supervisory Board
Continental AG Supervisory Board chairman Dr. Hubertus von Grünberg has ended his tenure with the German company, reportedly for personal reasons. On March 6 Continental reported that Dr. von Grünberg had ended his position as chairman and as an ordinary member of the Supervisory Board, with immediate effect. Until a vote can be taken to appoint a new chairman, the Supervisory Board is to be led by deputy chairman, Werner Bischoff. Dr. von Grünberg began his chairmanship of the Supervisory Board in 1999 and served as company CEO between 1991 and June 1999.
Continue ReadingDunlop India Plant to Restart Production in 2-3 Months
According to information given my Dunlop India chairman P K Ruia on March 6, the company’s Shahgunj factory will begin production in the next two to three months, and in stages all employees will return to work. I want to reassure everybody that the plant will begin production and each of the employees would be absorbed in phases, said Ruia.
Continue ReadingVerdek To Distribute Italian EV In America
Verdek-EV was formed a year ago, with ex-Pirelli USA president and CEO Guy Mannino as its president and CEO. In celebration of the company’s first anniversary, VERDEK-EV has signed an agreement to be the exclusive distributor for the Italian- manufactured Tazzari ZERO, a neighbourhood electric vehicle (NEV) with lithium-ion batteries that provide a range of 88 miles before recharging at a cost of less than $2. Verdek-EV’s distribution rights include North America, Mexico and the Caribbean islands. Along with battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and other alternate-fuelled vehicles, NEVs are a growing and critical niche within the future of worldwide transportation, says the company. With 40 per cent of the world driving less than 40 miles per day, NEVs are optimally suited to satisfy much of the local transportation demands.
Continue Reading“You’re Hired!” – Beissbarth Sponsors Apprentice Scheme
Beissbarth UK, have backed their commitment to training excellence with sponsorship of the Peugeot Service Technician Apprentice of the Year 2008 awards. Six finalists were put through their paces during a challenge of six diagnostic tasks based on the IMI Diagnostic Level Automotive Technician Accreditation (ATA). The tasks tested the candidates on braking systems, engine electrical systems, transmission, vehicle electrical systems, engine mechanical systems and vehicle body multiplexing systems. David Trent, apprentice at George Hartwell, Ferndown, Dorset, won first prize with a prize donated by Beissbarth UK, whose MD Philip Hodges said: Training is a vital part of our industry’s future and we were delighted to be able to celebrate the success of these apprentices. The level and range of sophisticated diagnostic and repair equipment will continue to increase and we are indeed fortunate to be able to work with farsighted firms like Peugeot who are leading the way in investing in apprenticeships, so enabling more young people to embark on an excellent career.
Continue ReadingPelmar Group Expects ‘Increased Sales in 2009/10
Despite the current economic crisis Pelmar Group, the pre-owned tyre manufacturing equipment supplier, is reportedly expecting increased sales in the next two years. “More and more tyre and rubber plants worldwide are turning to buy used and reconditioned machinery, due to low capital investments caused by the global economic crisis,” company representatives told Tyres & Accessories. The 42 year old company (which employs 150 workers) reported a 25 per cent increase of sales in the fourth quarter of 2008 and first quarter of 2009. According to company literature, Pelmar Engineering Ltd. is a world leading supplier of refurbished, pre-owned and new machinery to the tire and rubber industry.
Continue ReadingStatutory Negotiations End At Nokian Heavy Tyres
The statutory negotiations at Nokian Heavy Tyres Ltd ended on March 9, 2009. The results of the negotiations were to cut personnel numbers by four office employees and 29 factory employees. Part of the personnel cuts will be carried out through pension arrangements. Adjustment measures will also include temporary lay-offs for all personnel and factory stoppages as needed. In addition, 34 factory employees will be laid off until further notice. Costs will be reduced and operations re-organised in line with solutions which have been mutually agreed with the personnel. The working model of the heavy tyre production will change to discontinued three-shift/five day operations. The reason for the adjustment measures is the decreased heavy tyre demand caused by the global recession, which has created the need to adjust production in line with the lower demand. Following these measures Nokian Heavy Tyres Ltd employs approximately 240.
Continue ReadingBATO Distribution Center Earns Honors
Bridgestone Americas Tire Operations regional distribution centre at Cecil Commerce Center in Jacksonville, Florida, was named the “Industrial Project of the Year” at the annual National Association of Industrial and Office Properties. The distribution centre, BATO’s largest in the country, is a one-million-square-foot, $44 million facility on 63.3 acres at Cecil Commerce Center. The distribution centre has a significant impact at Cecil and has indirectly created more than 200 jobs at JAXPORT, according to BATO. With capacity for more than a million tyres ranging from small passenger and industrial to commercial truck tyres, this centre supplies tyres and automotive parts to Florida, Georgia, South Carolina and North Carolina. In addition, the distribution centre will ultimately supply the entire U.S. with imports from Latin America and the eastern half of the U.S. with tyres from Japan and other Asian countries. “We are happy to be in Jacksonville — the people of this community have been great to work with,” said Steve Shelton, vice president of logistics and supply chain management, BATO. “The city of Jacksonville, the city council and the Jacksonville Economic Development Commission helped us every step of the way. They’ve proven to us that Jacksonville is a great place to live and do business. We are very fortunate to have such great partners in this endeavor.” (Tire Review/Akron)
Continue ReadingNewspaper: Schaeffler May Retain Under 20%
Schaeffler Group’s owners will end up with a fifth or less of the company in the event that creditor banks take control of the automotive supplier, according to Sueddeutsche Zeitung. The German newspaper added that the government doesn’t plan to grant aid to the company, without citing a source. Meanwhile competitor Bosch denied reports that it had been in talks to buy Schaeffler Group.
Continue ReadingBridgestone Americas Lands Three ‘Consumers Digest’ Best Buys
Bridgestone Americas Tire Operations (BATO) reports earning three “Best Buys” ratings from Consumers Digest in the magazine’s recent tyre evaluation. A Bridgestone-brand and a Fuzion-brand tyre were acknowledged in the Performance Car Tires category along with a Bridgestone-brand tyre in the Touring Car Tires classification. This is a significant occurrence for BATA, as according to Consumers Digest, “Research shows that 62.7 per cent of consumers actually bought a product based on Consumers Digest Best Buy Seal.” “We are very honoured to earn this kind of recognition for our Bridgestone and Fuzion-brand tyres,” said John Baratta, president, Consumer Replacement Tire Sales, U.S. and Canada, BATO. “Consumers Digest is an important and influential resource for consumers when they go to make buying decisions.”
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