Michelin honours 5 partners at Supplier Awards
Five of Michelin’s best suppliers were recognised at the fourth edition of the tyre maker’s Supplier Awards, which was held yesterday at ‘Aventure Michelin’ in Clermont-Ferrand, France. The awards were presented to representatives of the winning companies by Jean-Dominique Senard, chief executive officer and managing general partner of the Michelin Group, and four members of the Group Executive Committee.
Continue ReadingBain Capital buys US distributor Dealer Tire
The private equity firm building up a European tyre distribution group through its acquisition of firms such as Fintyre and Reiff has made a significant investment in North America. Bain Capital reports its acquisition of a majority shareholding in US-based aftermarket tyre and parts distributor Dealer Tire, LLC. The interests of Lindsay Goldberg LLC, Dealer Tire’s investment partner since December 2014, will be acquired by Bain Capital Private Equity. The transaction is expected to close by December.
Continue ReadingMichelin Supplier Award an honour – VMI
Amongst the companies recognised for exceptional contribution to the Michelin Group over the past years at a ceremony held yesterday evening at the museum Aventure Michelin in Clermont-Ferrand, France was VMI. Harm Voortman, VMI Group chief executive officer, received the award from Jean-Dominique Senard, chief executive of the Michelin Group.
Continue ReadingUK car production a factor in lower Q3 2018 volumes for Superior Industries Inc.
Declining car production in the UK has contributed towards lower wheel unit shipments in the third quarter of 2018, reports Superior Industries International, Inc. Compared with the prior-year period, Q3 2018 shipments were down 300,000 units to 4.7 million.
Continue ReadingPirelli completes high-end tyre JV
With the completion of Pirelli’s acquisition of a 49 per cent stake in Jining Shenzhou Tyre Co., the tyre maker’s management assume operational responsibility for the joint venture company’s consumer tyre plant in China. Pirelli states that the new plant will provide it with the “necessary production flexibility” it requires within its ‘High Value’ segment to accommodate the evolving Chinese market as well as expected developments in electric vehicles and the growing share of original equipment homologations obtained in China, Japan and Korea.
Continue ReadingMichelin investing in winter tyres, semi-finished products in Canada
Investments totalling CA$21 million (£12.3 million) will add 150 new jobs to the Michelin tyre factory in Nova Scotia, Canada and make permanent 200 temporary positions that were previously slated to end in 2020. The investments take the form of two new projects at Michelin’s Pictou County site – a new winter tyre line and the North American launch of a new process for semi-finished materials. These projects are valued at $9 million and $12 million respectively.
Continue ReadingHankook Tire introduces policy for rubber supply chain sustainability
Hankook Tire is the latest tyre maker to establish a policy setting out social responsibility within the natural rubber value chain. The policy aims to ensure each link in the natural rubber supply chain is economically, socially and environmentally sustainable.
Continue ReadingTrico & 90 years in Europe – I’ll drink to that
Something’s brewing over at Trico, and it isn’t trouble. The company has been present in Europe for 90 years now, and in correct birthday form is celebrating with beer.
Continue ReadingLinglong holds business investment talks with EBRD
Talks were held last week between Linglong Tire and the European Bank for Reconstruction and Development (EBRD). Linglong Tire chairman Wang Feng met with key EBRD representatives, including Jurgen Rigterink, first vice-president, Betsy Nelson, vice-president and chief risk officer, and Jean-Marc Peterschmitt, managing director of industry, commerce and agribusiness, in London on 16 October to discuss cooperation on the construction of Linglong’s tyre plant in Serbia.
Continue ReadingLeasePlan announces changes at the top of UK business
Vehicle management leader, LeasePlan has announced changes at the top of its business – with LeasePlan UK’s current managing director Matt Dyer appointed as president and chief executive officer of LeasePlan USA, and current LeasePlan Italy managing director, Alfonso Martínez stepping into the managing director role in the UK.
Continue ReadingJohn Lewis Partnership to phase out all diesel heavy trucks by 2028
The John Lewis Partnership will switch from diesel-powered heavy trucks to 100 per cent renewable biomethane-powered versions by 2028, a move the company states will cut its HGV emissions by more than 80 per cent.
Continue ReadingFirst Line secures £20m in funding from Santander to support global export growth
Banbury-headquartered First Line Ltd, one of the UK’s leading suppliers of premium quality automotive components to the vehicle aftermarket, has secured £20 million in funding from Santander Corporate & Commercial. The funding will help the firm expand its exports and capitalise on growth opportunities in overseas markets, it states.
Continue ReadingBorg & Beck features in F1 game
The latest official Formula One game for PS4 and XBOX has just been released and this 2018 edition features Borg & Beck, one of the premier racing division’s most well-known brands, evoking memories of an era when Borg & Beck received the design award for outstanding achievement in motorsport, with over 300 wins from vehicles fitted with OE Borg & Beck.
Continue ReadingBridgestone’s Joliette plant to gain automated warehouse
A new, fully automated warehouse is to be built at the Bridgestone manufacturing facility in Joliette, Canada. Bridgestone Canada Inc. is investing CA$56 million (£32.8 million) in the project, which will give it a maximum storage capacity of 500,000 car and light commercial vehicle tyres once the facility opens in early 2020.
Continue ReadingDharaprasadji Poddar passes away
Balkrishna Industries Ltd. (BKT) shares that its chairman emeritus, Dharaprasadji Poddar, died on 20 October 2018. In a statement, BKT writes that “his demise is an irreparable loss to the company and his guiding presence will always be missed by all at Balkrishna.
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