Moody’s downgrades American Tire Distributors
On 5 September Moodys Investors Service downgraded its Probability of Default Rating and senior subordinated notes rating for American Tire Distributors, Inc., to Ca-PD (from Caa3-PD) and C (from Caa3) respectively, following the companys proposed debt-for-equity exchange offer to holders of the rated notes. All other ratings, including the companys Caa2 Corporate Family Rating and Caa1 senior secured bank debt (term loan) rating remain under review for downgrade.
Continue Reading![Continental celebrates 50 years of tyre tests with driverless vehicles](https://www.tyrepress.com/wp-content/uploads/2018/09/conti-test-cars-sml.jpg)
Continental celebrates 50 years of tyre tests with driverless vehicles
Driverless cars? Continental had those 50 years ago…It is exactly half a century today since the tyre maker demonstrated its first electronically controlled driverless car at its Contidrom facility in Germany. In those days a car cruising the Contidrom circuit without someone behind the wheel was a novel sight, to say the least, and Continental recalls that more than 400 newspapers, magazines, radio stations and television channels reported on the events of 11 September 1968.
Continue Reading![Bridgestone’s Hungary plant to gain new 10,000m² warehouse](https://www.tyrepress.com/wp-content/uploads/2018/09/bridgestone-hungary-melinda-sml.jpg)
Bridgestone’s Hungary plant to gain new 10,000m² warehouse
Bridgestone intends to invest a further HUF 9.2 billion (£25.3 million) in its Tatabánya tyre factory in Hungary. According to information published by Hungary’s Ministry of Foreign Affairs and Trade, the investment will cover the construction of a 10,000 square metre warehouse and also facilitate an expansion of production capacity, as announced last year, to 7.2 million tyres per annum by 2020. Hungary’s government will contribute HUF 826 million (£2.3 million) towards the project.
Continue Reading![Michelin: Restructuring, layoffs a possibility for Dundee tyre plant](https://www.tyrepress.com/wp-content/uploads/2018/09/Environment-Michelin-Dundee-factory-wind-turbines-sml.jpg)
Michelin: Restructuring, layoffs a possibility for Dundee tyre plant
It isn’t just retreaders who have suffered at the hands of cheap tyres imported from the Far East. In a statement issued today, Michelin confirms that its plant in Dundee “continues to face extremely challenging trading conditions, primarily due to the influx of cheap tyres from Asia and falling demand for premium tyres in smaller dimensions.”
Continue ReadingVMI wins Pirelli Supplier Award 2018
During a ceremony held at Pirelli’s headquarters in Milan, Italy recentlym VMI received the Supplier Award for high quality and support. Chief purchasing officer Matteo Battaini handed over the Award to Harm Voortman, CEO of VMI Group:
Continue Reading![Bridgestone buys ETB, Britannia Tyres](https://www.tyrepress.com/wp-content/uploads/2018/09/ETB-image-2.jpg)
Bridgestone buys ETB, Britannia Tyres
Bridgestone has bought all the shares of ETB. ETB – otherwise known as Exhaust Tyres Batteries and Britannia Tyres – runs 32 different locations, with 265 employees assisting more than 10,000 customers a month. The news follows the sale of Bridgestone’s Kingsway tyre retail business in the East England to Lodge Tyre in September 2017. More widely, Bridgestone has been behind a series of high-profile tyre retail acquisitions across the major European tyre markets. Both ETB and Britannia Tyres will continue operating under their current identities and with their current team, with founder Charles Ivill continuing to direct operations from the ETB company headquarters in Worcester.
Continue Reading![Delphi Technologies: Automechanika debut for aftermarket packaging](https://www.tyrepress.com/wp-content/uploads/2018/09/Delphi-Technologies-packaging-technician-shot-sml.jpg)
Delphi Technologies: Automechanika debut for aftermarket packaging
Visitors to the Delphi Technologies stand (hall 4.0, stand C12) at Automechanika Frankfurt this week will be the first to see its newly designed aftermarket packaging. Featuring a new logo in a wallpaper print as well as a retail box based on the current design, the upgraded packaging is part of an extensive rebranding exercise which will see the company transition from its red oval logo to a single, common identity for both OE and aftermarket businesses. An improved layout and higher quality materials will also provide more robust packaging without increasing materials, weight or package size.
Continue ReadingNexen Tire Europe relocates headquarters
Nexen Tire Europe moved its head office and European technical centre to a new purpose-built 11,000 square metre location in Kelkheim, Germany on 5 September 2018. According to the company, the Lise-Meitner-Straße site was constructed in less than 13 months, with the focus on making an ecologically friendly building and using materials sourced from local companies.
Continue Reading![‘Fast cars and beautiful women’ – Liqui Moly introduces 2019 calendar](https://www.tyrepress.com/wp-content/uploads/2018/09/liqui-moly-calendar.jpg)
‘Fast cars and beautiful women’ – Liqui Moly introduces 2019 calendar
Liqui Moly has previewed its 2019 calendar, which the company promises will include a mix of “exclusive sports cars and beautiful women.” Peter Baumann, marketing director of the German oil and additive specialist, states: “Our calendar has a big fan base,” gathered over two decades. “It is intended to be a little ray of light in the stressful everyday life of a garage.”
Continue ReadingHella successfully concludes sale of wholesale businesses, FTZ and Inter-Team
Lighting and electronics specialist Hella has concluded the sale of the Danish and Polish wholesale businesses FTZ and Inter-Team. After approval by the antitrust authorities responsible, both companies were transferred to the Swedish wholesaler Mekonomen. Subject to the terms of the transaction, the purchase price amounts to 395 million euro.
Continue Reading![Dayco unveils its new corporate branding](https://www.tyrepress.com/wp-content/uploads/2018/09/Dayco1.jpg)
Dayco unveils its new corporate branding
Dayco will use the world stage afforded by Automechanika Frankfurt to present its new corporate branding to a global audience of the industry’s most influential people, including the many technicians who use Dayco’s replacement components. The new branding is consistent across both the company’s original equipment (OE) and aftermarket products. The company states that this is designed to deliver a continuous message of quality and dependability, using modern graphics that support the company’s business ethos and core strengths.
Continue Reading![Leading suppliers confirmed for Automechanika Birmingham 2019](https://www.tyrepress.com/wp-content/uploads/2018/09/Automechanika-Birmingham-2018.jpg)
Leading suppliers confirmed for Automechanika Birmingham 2019
Automechanika Birmingham will return to the NEC from 4 to 6 June 2019, with many major industry players signed up to exhibit. The show organisers say the 2019 edition looks likely to increase in size ahead of the event’s move to a biennial format starting in 2021.
Continue ReadingFalken sponsors Atlético de Madrid
Tyre brand Falken has agreed a sponsorship deal with the successful, tradition-steeped Spanish football team Club Atlético de Madrid for the 2018/19 season. The Spanish club occupies second position in the UEFA ranking, they are the current champions of the UEFA Europa League, and have just won the UEFA Super Cup in Tallin, Estonia. Falken has extended its marketing via football sponsorships across Europe in the past few years, partnering with major clubs, such as Liverpool FC in the UK.
Continue Reading![IAAF further swells its membership with TGL](https://www.tyrepress.com/wp-content/uploads/2018/09/TGL-Banbury.jpg)
IAAF further swells its membership with TGL
Independent Automotive Aftermarket Federation (IAAF) has announced clutch and transmissions specialist TGL as the latest member to join its ranks.
Continue Reading![Bendix braking products moving into Western Europe](https://www.tyrepress.com/wp-content/uploads/2018/09/Bendix.jpg)
Bendix braking products moving into Western Europe
The Parts Alliance will be helping to showcase opportunities with Bendix braking products to a global audience at next month’s Automechanika Frankfurt exhibition, taking place from 11 to 14 September.
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