Goodyear appoints Greg Shank as senior IR director
The Goodyear Tire & Rubber Company has named Greg Shank as senior director of Investor Relations (IR). He reports to Christina Zamarro, executive vice president and Chief Financial Officer (CFO).
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The Goodyear Tire & Rubber Company has named Greg Shank as senior director of Investor Relations (IR). He reports to Christina Zamarro, executive vice president and Chief Financial Officer (CFO).
The share prices of Bridgestone, Continental, Goodyear, Michelin, Nokian and Pirelli were down by an average of 2.35 per cent following the news that the European Commission has started an antitrust investigation within the European Union.
Michelin Connected Fleet has signed a four-year partnership with Scottish Water to help boost the performance of the utility’s 2,000-strong mixed fleet and accelerate the firm’s move to electric vehicles (EV). Scottish Water is rolling out Michelin Connected Fleet across its 1,300 vans, 200-plus trucks and trailers, and 500 specialist pieces of plant, over the next six months.
Unannounced inspections, investigations, visits, raids. Whatever you call them, having the European Commission come knocking uninvited is not how any tyre manufacturer wants to start 2024. Nevertheless, that is exactly what happened at the tail-end of January across “several member states” within the European Union.
Following the news that the European Commission has opened a price-fixing investigation across “several member states”, Michelin has officially confirmed that it too has been investigated as part of EC antitrust case. Nokian, Goodyear, Continental, Pirelli and Bridgestone have also been investigated as part of the EC case.
The news that the government is maintaining annual MOTs in the present 3-1-1 regime was universally welcomed by the industry. But tyre retailers up and down the country continue to highlight the appalling reality that many tyres are changed past the legal limit and in shocking states of disrepair. For many motorists, the MOT is an annual driving sanity check, reminding them to change their tyres and other safety-critical car parts. That reality and the increasing prevalence of electric vehicle and ADAS technology have prompted calls for an upgraded MOT – not least from the BTMA and the NTDA.
Following the news that the European Commission is investigating tyre manufacturers across Europe for anti-competitive practices, we now know that at least Nokian, Continental and now Goodyear have been visited.
The European Commission has initiated an unannounced inspection at Nokian Tyres plc’s headquarters in Nokia, Finland. The investigation forms part of the EC’s wider look at tyre manufacturers across several member states:
The European Commission is carrying out unannounced inspections at the premises of companies active in the tyre industry “in several “member states”. The reason? “The commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices”, according to an official statement. So far, Nokian Tyres, Continental, Goodyear, Pirelli, and Bridgestone have confirmed they have received an unannounced inspection.
The European Commission has approved the creation of a joint venture by Pirelli Tyre S.p.A. of Italy and the Saudi Arabian Public Investment Fund (PIF) under the EU Merger Regulation.
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Vaculug has promoted Kelly Stevens to the role of head of fleet operations. Stevens has been a key member of the Vaculug team for nearly four years following a combined total of 15 years at Tructyre and ATS Euromaster.
Following the news that Bond International is set to acquire the Viking tyre wholesale business, Halfords Group executives have confirmed to Tyres & Accessories that, Bond will indeed acquire the Viking and Birkenshaw tyre wholesale businesses. At the same time, Halfords Group commercial director/director Halfords Commercial Fleet Services, Robin Shaw clarified that the Bond acquisitions only include the McConechy’s warehouse in Warrington which came into the Halfords group as part of its McConechy’s acquisition in 2019. Meanwhile, Halfords continues to invest in its Commercial Fleet Services operations which have grown out of Halfords’s acquisitions of the members of ULM – Universal, Lodge and McConechy’s.
In 2023, China’s tyre industry experienced “ice and fire”. On the one hand, large tyre makers with sufficient foreign trade orders or with overseas factories doubled growth in revenue and net profit. On the other hand, the slow recovery of the Chinese market, especially the lack of demand in the radial truck tyre (TBR) sector, has put the entire downstream industry under tremendous pressure.
Well-known tyre wholesale business Bond International was growing fast before the latest acquisitions were announced, but now the company has agreed to purchase Stepgrades Motor Accessories Limited trading as Viking Wholesale Tyres, Birkenshaw Distributors Limited and McConechey’s Commercial Fleet Services, growth will be considerably faster. All three Stepgrades businesses have been acquired from Halfords Group Plc as part of a deal which will see Bond International partner with Halfords to distribute tyres to all of their network. Moving forward, company representatives suggested that there will “further announcements” as the company looks to expand its operation in Scotland, where the business previously had limited exposure.
The Driver and Vehicles Standards Agency (DVSA) has confirmed that the Public and Commercial Services Union (PCS) has served DVSA notice of strike action on 8 and 9 February as well as 10 and 11 February 2024. This means that up to 2000 staff from 270 centres across the country will strike.
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