One snippet of information to emerge from this week’s Cooper Tire & Rubber Co. v. Apollo Holdings Pvt Ltd court case is that Apollo attempted to eliminate opposition to its Cooper Tire buyout by acquiring the 35 per cent share in Cooper Chengshan held by Cooper’s joint venture partner. This potential problem-solver failed when the sum Apollo offered fell way short of the Chengshan Group’s expectations.
Battery supplier Manbat has supported three consecutive events in Telford, Birmingham and Paris. “Despite the complication of the timing of the events, two of which ran simultaneously, I’m delighted to say that all three exhibitions were a great success,” said marketing manager Myles Pemberton.
Pirelli has launched a new initiative based around the operating temperature of winter tyres. Customers who purchase the manufacturer’s winter products are being offered a 50 per cent refund should the average UK daily temperature remain higher than seven degrees Celsius for more than 30 days between 1 January 2014 and 28 February 2014.
Titan International has announced the closing of its offering of $400 million aggregate principal amount of 6.875 per cent Senior Secured Notes, due 2020.
Titan intends to use the net proceeds from the offering to finance the purchase of the Company’s 7.875 per cent Senior Secured Notes due 2017 validly tendered pursuant to a tender offer and consent solicitation which it commenced on September 23, 2013, and to pay all consent payments, accrued interest, costs and expenses associated therewith.
On October 7th, Cooper Tire & Rubber Company issued a statement regarding the pending merger with Apollo Tyres, in which Cooper makes it plain that it believes that a reduction in share price is unwarranted. The statement, in full, reads as follows:
Falken Tyre Europe is offering one of its customers the chance to win a new car in time for Christmas. Open to anyone who purchases just two tyres from its award-winning range between now and 30 November, the recipient will receive a new VW up! before Christmas.
AM Bromley has unveiled a new OTR (off the road) Tyre Monitor System that utilises telematics technology to provide cost-savings as well as safety and tyre life improvements. Developed in collaboration with ENAiKOON, the global leader in telematics communications, the new system combines AM Bromley’s Tire Monitor System (TMS) with ENAiKOON’s advanced tracking software to deliver an integrated system that offers real-time, anytime reporting for large off-road vehicles.
On 23 September, a total of 350 guests joined executives from Yokohama Tire Corporation, including Yokohama Rubber representative director Hikomitsu Noji, and state and local officials in West Point, Mississippi to break ground on Yokohama’s first greenfield manufacturing facility in the United States. During the official groundbreaking ceremony, the first sod was turned on a plant that is scheduled to enter production in October 2015 and manufacture up to one million tyres a year, mostly for the domestic market.
Following on from the news that Delticom AG purchased fast-growing online tyre retailer Tirendo on 17 September, Delticom executives have also revealed that company’s founders and main shareholders Rainer Binder and Andreas Pruefer also sold around 500,000 Delticom shares to a subsidiary of European Media Holding AG (EMH), which itself is a founding shareholder of Tirendo. In addition EMH was granted options to purchase up to a further 1.6 million shares. Apart from increasing the apparent combined value Delticom attributed to Tirendo, it is also likely to have consequential effects on market pricing.
According to Continental, the habour tyre range it unveiled at the TOC Container Supply Chain Europe exhibition in Rotterdam in July has struck a chord with port operators. The company claims that more than half the respondents to a recent survey plan to purchase or recommend the newly-released range.
Pneumobil, the retail operation run by Pirelli in Germany, has acquired Bavarian tyre retailer Reifen-Wagner I.S. Auto-Service GmbH & Co. KG. The purchase of this chain adds 15 new outlets to the 70-strong Pneumobil network; the deal will take affect on 1 October.
Speaking about the fall in sales of motorcycles in August, Sue Robinson, Director of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK, said: "As the summer months are usually prime time for motorcycle sales it is extremely disappointing to see registrations decline in August".
Continental's ContiSportContact 5 has come out on top in the demanding tyre test carried out by leading car magazine Auto Express. The Auto Express test celebrates the best of the best in the tyre market, highlighting exceptional performance, quality, safety, desirability and value. It is seen within the motoring industry as a stamp of approval offering motoring enthusiasts confidence when looking for their next tyre purchase.
Just a day after we announced the first early details of the NTDA’s national tyre labelling survey, it has now emerged that mytyres.co.uk is also managing a survey on a very similar subject.
Writing in a customer email dated 2 September 2013, mytyres.co.uk explained the background to tyre labelling before going on to explain that company is interested in learning more about what consumers themselves think of labelling.
Thousands of motorists are driving potentially dangerous cars as the number of vehicles on the road that have previously been written off increases. The National Association of Bodyshops (NAB) has previously called on the Competition Commission to review their position on write-offs during an investigation into the private motor insurance market.
However the Competition Commission say that they have no plans to review this further stating that despite the evidence they received during the investigation, they judged that write-offs were an issue relating to the supply of used cars and not related to the provision of Private Motor Insurance and related goods and services.