One Equity Partners to Buy Remaining Columbian Chemicals Share
Equity Investment company One Equity Partners has agreed to pay $150 million to acquire the remaining 66.75 per cent stake in Columbian Chemicals Holding LLC that it does not already own. Columbian Chemicals, based in the US state of Georgia, manufactures carbon black for use in tyres and plastic products.
Continue ReadingBike Tyrestore on Show at the NEC
Bike Tyrestore is once again exhibiting at the Motorcycle Trade Expo at Birminghams NEC on 18 -20 January. Company managing director, Peter Smith, told Tyres & Accessories that the company is confident it can repeat last years successful growth in sales to the motorcycle tyre trade in 2009. On show with its major partners, Bridgestone, Michelin and Sava, BTS will be demonstrating YOUR Online Warehouse, the company’s on-line enquiry and order service and Customer Loyalty Rewards programme Moto-Vate, which has just concluded a unique deal with the Ron Haslam Race School. BTS won Best Trade Service award last year and is known for having the friendliest Customer Service Team in the business.
Continue ReadingHull Tyre Shop Damaged in Ram Raid
Local news sources have reported that criminals using a blue Ford Fiesta drove through the shutters of Trojan Tyres on Oxford Street in Hull, causing £5,000-worth of damage. It is not known why the secure compound was targeted, as a preliminary search of the site has revealed that nothing is missing.
Continue ReadingPelmar Engineering Annual Conference
Pelmar Engineering has announced that it is to hold its annual conference in Hamburg, Germany this year. The company is holding its conference alongside Tire Technology Expo 2009. According to a statement on the matter, the 2009 conference is the first time that the event will be held outside of Israel. “The main reasons are the vast international expansion and the increased sales and engineering contracts signed in Europe,” the statement explained.
Continue ReadingBridgestone Operating Profit Anticipated to Drop 15%
According to Japan’s Nikkei financial daily, Bridgestone expects its operating profit to decrease by 15 per cent to 100 billion yen (£742.7 million) in the 2009 calendar year. The Japanese tyre major anticipates sales will fall about 10 per cent from their 2008 level, to around 2.85 trillion yen (£21.2 billion), reported the newspaper. On December 22 the company reported an expected 2008 operating profit of 118 billion yen (£876.4 million), significantly down on the 249.96 billion achieved in 2007.
Continue ReadingUS Tyre Firms Announce Layoffs
The US tyre industry announced over 100 job losses today in both the manufacturing and retail segments. News reports suggest that Titan is to cut 80 jobs from its Freeport, Illinois plant in addition to taking on a six-weeks-on/two-weeks-off schedule, while Les Schwab Tire Centers’ distribution centre in Prineville, Oregon is set to shed 27 employees. “Theres certainly a level of tentativeness about what the future holds in the short-term,” USW Local 745 President Steve Vanderheyden told Rockford’s WIFR-TV. “Theres been less construction companies willing to buy large mining rigs for example that would have our tires on them.”
Continue ReadingPorsche Increases Stake in VW
Porsche has increased its stake in Volkswagen ordinary shares to 50.8 per cent. Analysts Morgan Stanley say that, while the timing of such a move was impossible to predict, this is absolutely in line with Porsches stated strategy of ultimately moving to 75 per cent of Volkswagen and seeking a domination agreement. With this move, Porsche also acquires indirect control over Scania through VWs 68.6 per cent voting stake in the Swedish truck maker. Porsche has made it clear that is has no strategic interest whatsoever in Scania or any interest in buying Scania shares. However, Swedish law requires Porsche to make a mandatory bid for Scania.
Continue ReadingSealey’s New Year Sale
With the holidays over, what better way to kick off 2009 than with Sealey’s New Year Sale which launched on the 1st January 2009? This massive 48-page promotion is packed with hundreds of Sealey’s fastest moving tools and equipment. Whether a professional or serious DIY enthusiast, now’s the chance to get organised and your garage or workshop in check for 2009. The promotion runs until the 28th February 2009 and copies of this promotion and Sealey’s latest catalogue can be obtained from local Sealey distributors or directly from Sealey.
Continue Reading6 Million Indian Truckers Down Tools
Indian news sources have reported that more than six million of the nation’s trucks are off the road at the beginning of 2009, as a strike has been called following deadlock in union negotiations over the price of tyres and fuel. Talks stalled late on Sunday evening when Road, Transport and Highways secretary Brahm Dutt failed to reach a satisfactory agreement with the All-Indian Motor Transport Congress. The AIMTC’s major targets were a 10 rupee deduction in diesel costs and a rationalisation of tyre prices.
Continue ReadingStarco Launches New Website
Industrial and niche tyre specialist Starco has launched a newly redeveloped website. According to marketing co-ordinator, Sharon Wilkins, the upgraded web presence recognises “the increasing importance and prominence the Internet plays in our daily communication.” Company representatives told Tyres & Accessories that the company’s goal is to provide visitors even more relevant information on group issues, while still enabling them to quickly find information about local group companies. At the moment, the page is available in English with German, Russian and Danish translations expected shortly. The new site can be found at www.starco.com.
Continue ReadingConti Revises US Web Site
Continental Tire North America launched a redesigned consumer Web site at www.continentaltire.com. CTNA said the revised site is easier to navigate, “and echoes the graphic scheme of the company’s upcoming new ‘Confidence’ ad campaign.” The site includes links to the company’s latest news, promotions and events, as well as a dealer locator and links for consumers to select and register their tyres. In addition, there is an FAQ page and Tech Docs” section to answer consumer questions and provide technical advice. (Tire Review/Akron)
Continue ReadingPAX System Class Action Suit Settled
Michelin North America Inc. and American Honda Motor Co. have settled a class action lawsuit with consumer claiming they were misled about Michelin-produced run-flat tyres. Terms of the agreement were not released, and final court certification is expected on 14 January. The federal consumer class action suit claimed Michelin, which made the tyres, and Honda, which outfitted certain cars and minivans with Michelin’s PAX Tire and Wheel Assembly System, failed to disclose that the tyres last half as long as standard tyres, that the tyres were “prohibitively expensive to repair and replace” and that sufficient repair facilities and stock of the tyres and other parts of the PAX system do not exist in the U.S. (Tire Review/Akron)
Continue ReadingMichelin Canada Truck Tyre Prices to Rise
Prices for Michelin and BFGoodrich truck tyres are set to increase in the Canadian market, effective February 1. Michelin brand truck tyre prices will increase by up to five per cent and those for BFGoodrich brand replacement market commercial truck tyres by up to six per cent. Michelin North America (Canada) notes that this is the first such price increase in three years.
Continue ReadingToyo Promotes Corporate Officers
Several key promotions were made by both Toyo Tire Holdings of Americas Inc. and its subsidiary, Toyo Tire USA Corp. As of 1 January, Carlos Kibata became chairman of Toyo Tire Holdings of Americas. He had been president and CEO of TTHA, and was the founding president of Toyo Tire North America Manufacturing Inc. Concurrently, Masaharu Yoshimoto, president and CEO of Toyo Tire USA, was named president and CEO of TTHA. Yasushi Takagi was promoted to president and CEO of Toyo Tire USA, having served as COO and executive vice president of the company since September 2008. (Tire Review/Akron)
Continue ReadingMichelin North America Increases Canadian Truck Tyre Prices
Tire Review reports today that Michelin North America (Canada) Inc. will increase truck tire prices as of 1 February, 2009. Pricing on Michelin brand medium truck tyres will be raised by up to 5 per cent, while BFGoodrich medium truck tyres will see a rise of up to 6 per cent.
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