Pirelli, along with Italian brake systems specialist Brembo and technology systems manufacturer Magneti Marelli, has announced the commencement of a cooperative technological agreement. The aim of this joint work, says Pirelli, is to develop leading edge solutions for the Italian and international automotive industry.
On January 22 Amtel-Vredestein N.V. reported its postponement of the general meeting of shareholders planned for the second half of the month. This decision was taken, the company discloses, because it is not yet “in a position to submit a decision on the disposal of its subsidiary Vredestein Banden B.V. to the general meeting for approval”. Amtel-Vredestein says plans regarding the subsidiary’s disposal are continuing, however it admits the sale process “may be impacted by certain legal actions taken by creditors of the company”. In a press statement, the company says it intends to conclude the sale process as soon as possible, thereby offering maximum value to all stakeholders. This is, admittedly, a best-case scenario; the statement contains the caveat that there can be no certainty of the successful sale of Vredestein Banden B.V.
Following the signing of an agreement on January 5, Bridgestone Australia will be working more closely with Sydney based retail tyre network Jobson’s Discount Tyre and Mechanical. The agreement finalises Bridgestone’s purchase of JLK Holdings, which owns and operates seven Bridgestone Tyre Centre outlets across the metropolitan Sydney region.
Phil Jobson, co-owner and founder of Jobson’s Discount Tyre and Mechanical, said the agreement represented “an exciting new phase” for both businesses. “We have been planning a move such as this for a number of years, so I am delighted to be joining forces with Bridgestone as it allows me to stay very much at the helm of the business while also ensuring its long-term future,” he said.
Bridgestone and Truck Point have won a four-year contract to supply Bridgestone truck tyres and service to the McPherson Ltd fleet in the UK. The fleet distributes prestigious alcoholic beverages for the whisky industry and also offers general haulage services via multiple locations.
Under the terms of the agreement, which took effect on 1 January 2009, Bridgestone UK will provide full supply of replacement truck tyres and total tyre management service through its national Truck Point service network.
Porsche has increased its stake in Volkswagen ordinary shares to 50.8 per cent. Analysts Morgan Stanley say that, while the timing of such a move was impossible to predict, this is absolutely in line with Porsche’s stated strategy of ultimately moving to 75 per cent of Volkswagen and seeking a domination agreement.
With this move, Porsche also acquires indirect control over Scania through VW’s 68.6 per cent voting stake in the Swedish truck maker. Porsche has made it clear that is has no strategic interest whatsoever in Scania or any interest in buying Scania shares. However, Swedish law requires Porsche to make a mandatory bid for Scania.
Following reaching an agreement with employee representatives, Lanxess AG has announced its plans to cut back or shut down production at 23 out of 45 of its German production facilities over the Christmas period and into January 2009. These arrangements, planned for the company’s Leverkusen, Dormagen, Krefeld-Uerdingen and Brunsbuettel sites, will directly affect around 1,400 employees.
Firestone Liberia celebrated on December 12 the official reopening of the Firestone Medical Center at Duside, in the city of Harbel, as an inpatient facility. Several VIP guests attended the one-hour ceremony to commemorate this milestone, including Liberian President Ellen Johnson Sirleaf and US Ambassador to Liberia Linda Thomas-Greenfield.
According to Bridgestone, the hospital was severely damaged during Liberia’s 14-year civil war and all of its medical equipment was either stolen or destroyed. The company adds that rebuilding and reopening of the hospital represents the fulfilment of one of Firestone Liberia’s commitments to the nation of Liberia under its investment agreement with the country.
SmarTire Systems has signed a definitive agreement to sell its business and related assets to Bendix Commercial Vehicle Systems LLC, the North American affiliate of Germany’s Knorr-Bremse Group. The December 10 transaction immediately incorporates SmarTire’s assets into Bendix’ electronic business unit, and proceeds from the sale will be held in a third party account subject to SmarTire obtaining shareholder consent at a meeting to be held in March, 2009. The company says it expects to apply all, or a substantial proportion, of the proceeds from the sale against its debt obligations. Following the transaction, SmarTire will change its name to TTC Technology, Inc.
Dunlop India is becoming something of a political hot potato in the run-up to the election in the Lok Sabha, the country’s house of representatives. With the support of West Bengal politician Mamata Banerjee, company chief managing director Pawan Ruia is reported by the Times of India to be perhaps placing political pressure on the West Bengal government to gain Dunlop India additional concessions of a nature normally reserved for ‘sick’ units; that is, companies that at the end of any financial year have accumulated losses equal to or exceeding their entire net worth. And the government, says the Times of India, is holding its tongue on political grounds.
Michelin India has announced an agreement to supply its silica based compound tyre Energy XM1 tyre as OE to the new Honda City in the Indian market.
“This initiative is part of our long term strategy for India and has also strengthened our relationship with Honda and we hope to continue with this relationship” said Mr. Jean Paul Caylar, the CEO of Michelin in India.
During voting that took place on December 7 and 8 the United Steelworkers of America Local 207L ratified a new three-year contract with Cooper Tire & Rubber. The contract, set to expire on October 31, 2011, relates to Cooper’s Factory in Findlay, Ohio.
“This contract was very different from any negotiations we have faced before,” said Mark W. Krivoruchka, Cooper’s senior vice president, Global Human Resources. “The Local 207L committee needed to adjust wages and working conditions in a way that makes Cooper more cost competitive in the marketplace. I would like to thank the local and international union leadership as well as membership and acknowledge the good work they provided to approve and ratify a contract that positions the Findlay plant more competitively in today’s uncertain economic environment.”
A tentative agreement between Cooper Tire & Rubber and the United Steelworkers Local 207 regarding the company’s Findlay, Ohio facility has been reached. If this agreement is ratified, a new three-year contract may be implemented.
The Findlay plant manager has said the agreement places the facility in a position to be more competitive, something seen as a major step towards maintaining operations at the site in light of Cooper’s plans to close one of the company’s four US factories.
Lloyd Fraser Supply Chain has renewed its three-year contract for Vacu-Lug to supply tyres for tis Focus DIY distribution contract. The agreement covers a total of 162 items of equipment and features a combination of fixed-price and pence-per-kilometre pricing.
A total of 59 Scania tractor units, 76 Don-Bur double-deck trailers and 27 Lawrence David trailers are included within the agreement, which will see new Yokohama tyres fitted to all steer axles and Vacu-Lug Duramold retreaded tyres on the trailers. Reflecting the nature of the operation, the tractor units are on a pence-per-kilometre tariff while the trailers are charged for at a fixed monthly rate.
Dneproshina JSC, the second largest tyre manufacturer in the Ukraine, has dismissed its director general Jozef Rucek. This news was given in a December 1 company statement and disseminated by iTyre.com; it is reported that the decision was made on November 26 by company president Vitaliy V. Verbas, and Rucek’s contract was ended by mutual agreement on November 29.
Dunlop India plans to suspend production at its Sahaganj facility and idle its workers on an Rs 2,000 (£30) a month retainer have run into complications, resulting in the company declaring a lockout at the plant on November 30. Workers have refused to sign an agreement accepting a suspension of production and the monthly payment, and on the morning of November 30 staged a demonstration against the company’s decision.
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