SRI completes acquisition of Dunlop brand rights
Sumitomo Rubber Industries, Ltd. (SRI) has completed the process of acquiring the Dunlop brand business of the UK based Sports Direct International plc (SDI). As announced on 27 December 2016, SRI reached an agreement with SDI to acquire their trademark rights to the Dunlop brand in various countries and territories, as well as SDIs Dunlop sporting goods and licensing business, for the purchase price of US$137.5 million. The transaction was finalised on 3 April 2017.
Continue ReadingSTARCO: Aftermarket remains ‘business as usual’ in the UK
Since the middle of last year, STARCO has oriented its focus towards the original equipment business, and is currently phasing out most of its replacement market activities in Europe. On 31 March, the company exited the replacement business in France and reduced its aftermarket presence in Poland, where it is now restricting its sales to solid forklift tyres. Only the STARCO group’s UK subsidiary now retains its traditional replacement market activity.
Continue ReadingSpeakers for Michelin’s Movin’On announced
Michelin has announced the first wave of speakers for Movin’On, the world’s largest collaborative event focused on solving society’s key mobility challenges.
Continue ReadingCAM obtains silver Investors in People accreditation
CAM has improved its Investors in People (IIP) accreditation, gaining silver following its recent inspection. IIP said the higher classification is based on the company’s commitment to flexible working, leading to excellent customer service and support, clear performance targets aligned with a commensurate reward scheme; its investment in continuous professional development in a complex technical environment; and sustained involvement in corporate social responsibility.
Continue ReadingValeo Innovation Challenge semi-finalists chosen
Valeo has announced the 24 teams selected to move onto the second stage of its global competition, the Valeo Innovation Challenge. Selected from a total of 1,628 participating teams by 70 Valeo experts and independent scientists, the 24 semi-finalist teams hail from 13 countries across 23 universities and schools.
Continue ReadingKwik-Fit enters Italian market
The Kwik-Fit brand is now present in Italy following the opening of the first outlet in the country last Saturday. Kwik-Fit’s entry into Italy follows last year’s signing of an agreement between the company and CDG-ONE, a company belonging to Italian tyre distributor Segema S.p.A. As a master franchisee, CDG-ONE plans to build a network of more than Kwik-Fit 200 centres in Italy by 2026 – the first is now in operation in Buccinasco, Milan.
Continue ReadingChina recycling plant and joint venture: Enviro signs MoUs with Vanlead Group
State-owned Chinese firm Guangzhou Vanlead Group, parent company of Wanli tyre brand manufacturer South China Tire & Rubber Co., Ltd, has signed two memorandums of understanding with Swedish firm Scandinavian Enviro Systems. The first of these covers the establishment of a turnkey recycling plant in Guangdong province, and the second the setting up of a joint venture to market Enviro’s patented technology across China.
Continue ReadingECP expands business in Ireland
Euro Car Parts has acquired the business of Team P R Reilly, a family-owned, automotive parts, accessories and bodyshop business based out of Dublin, Ireland, and that of paint and collision repair supply specialist Karkraft (N.I.) Limited of Belfast. The agreement expands Euro Car Parts’ operations across Ireland, with a key focus on enhancing product availability, further improving delivery times and expanding into new market sectors.
Continue ReadingTyrepac founder to head Point S Asia growth
Point S has opened an Asia office Singapore and appointed Ler Hwee Tiong as chief representative. The new Point S representative office is located within the French Chamber of Commerce in the city centre of Singapore and will coordinate activities within the Asian region. Point S push into Asia is expected to be “patient, and adapted to the local working environment of each market”.
Continue ReadingHexpol buys Valley Processing for $44 million
Just three days after buying Trelleborg’s Czech compounding operation, on 3 April Hexpol announced it has signed an agreement to acquire the business of Valley Processing from Ted Ballou and his family. The acquisition price amounts to approximately US$44 million on a cash and debt free basis. There will also be an additional product transfer fee, which will be paid later.
Continue ReadingBridgestone updates its CSR commitment
Bridgestone Corporation has refined its global corporate social responsibility (CSR) commitment. It says the new CSR commitment, titled ‘Our Way to Serve’, builds upon the company’s initial, 22 focus point CSR programme, which has been in place for a decade. The ‘Our Way to Serve’ programme is centred around three priority areas – Mobility, People and Environment.
Continue ReadingTrelleborg increases agricultural, construction tyre prices 14%
Trelleborg will increase its agricultural, forestry, and construction products by an average of 14 per cent. Trelleborg states that raw materials have faced a price increase of approximately 50 per cent, compared to the average price in 2016.
Continue ReadingHexpol buys Trelleborg’s Czech compounding unit for 65 million euros
Hexpol has today acquired 100 per cent of Trelleborg Material & Mixing Lesina s.r.o from the Trelleborg Group. The divested operation develops, produces and supplies polymer compounds. The majority of its sales are to external customers and a minor share to a small number of Trelleborg facilities in Europe.
Continue ReadingHankook to present most advanced PCR, TBR tyres at Autopromotec 2017
Hankook will showcase its advanced high-performance, environment-friendly and safe transportation product line-ups in the car and bus and truck sectors at Autopromotec in Bologna, Italy (24-28 May). Some highlights of Hankook’s booth (Hall 20, A74) will be the new all-season trailer tyre, SmartFlex TH31; two winter tyres, Hankook Winter i*cept evo² and Hankook Winter i*cept RS²; the four season Hankook Kinergy 4S; and the Laufenn tyre brand launched on the European market in 2015.
Continue ReadingUK Automotive industry demands Brexit safeguards
On the day that Prime Minister Theresa May official wrote to the European Union signalling the UK’s intent to leave the EU, the Society of Motor Manufacturers and Traders (SMMT) called for the automotive industry to be at the heart of negotiations.
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