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Pirelli sponsors Porsche 911 record

Porsche set a world record at the Silverstone Classic, as more than 1,000 911s took to the track in a parade to celebrate the model’s 50th anniversary. Pirelli sponsored the parade, as part of its Porsche Club Great Britain partnership agreement signed earlier this year, which stipulated that Pirelli will support Porsche Club GB financially and with tyres and on-event expertise. 1,208 Porsche 911s, which included an array of Carrera, GT, RS, RSR, Speedster, Targa and turbo variants, took part in the parade, which helped raise funds for national cancer charity, Hope for Tomorrow.

2nd August 2013/12,345 Comments/by Tyrepress Editors

BFGoodrich, USW reach agreement

Company News, International News, News

BFGoodrich has joined Goodyear and Bridgestone in reaching a tentative agreement with the United Steelworkers. The tyre maker and union negotiating teams have nutted out a three-year contract covering 2,400 workers at the company’s Tuscaloosa and Fort Wayne plants in the US.

30th July 2013/12,345 Comments/by Tyrepress Editors

Goodyear, Bridgestone Reach Deals with USW

Both Goodyear Tire & Rubber Co. and Bridgestone Americas have reached tentative agreements with the United Steelworkers (USW), avoiding strikes in several plants across the US.

Goodyear reached a tentative agreement with USW on 27 July, the deadline for its former contract. The deal, covering 8,500 employees, still needs to be approved by the majority of the six local USW unions.

29th July 2013/12,345 Comments/by Tyrepress Editors

Goodyear, USW progressing towards deal

Strike action at Goodyear plants in the US has been averted following the announcement of a tentative agreement between the tyre maker and the United Steelworkers union. On the evening of Saturday 27 July, as the clock ticked away on the previous four-year contract, the two parties reached an understanding over a four-year labour agreement that covers some 8,500 employees at Goodyear’s Buffalo, Topeka, Fayetteville, Danville, Gadsden and Akron plant.

29th July 2013/12,345 Comments/by Tyrepress Editors

Strike possible at US Goodyear plants

The deadline for reaching a new contract agreement at a number of Goodyear, Michelin and Bridgestone plants in the US is Saturday, and the likelihood this will be settled to the satisfaction of both tyre makers and union decreases with every hour.

26th July 2013/12,345 Comments/by Tyrepress Editors

Schaeffler Holding refinances debt, issues bonds

On 17 July, Schaeffler Holding signed a new €3.875 billion credit agreement that it is said to offer improved terms. As part of the transaction, Schaeffler Holding intends to issue high yield bonds in euro and US dollar tranches, with an issue size equivalent to approximately €1.5 billion. This will go towards repaying the company’s debt. Schaeffler says these measures will further reduce borrowing costs and significantly improve capital structure at the holding level.

18th July 2013/12,345 Comments/by Tyrepress Editors

Firestone-Liberia Signs New Labor Contract

The management and employees of Firestone-Liberia signed a new three-year collective bargaining agreement aimed at “increasing productivity and promoting working relationship between the management and employees of the company,” reported allafrica.com.

31st May 2013/12,345 Comments/by Tyrepress Editors

Schaeffler terminates Conti investment agreement

On 13 May, the Schaeffler Group gave notice of its intention to terminate the mutual investment agreement it has held with Continental AG since 2008. The agreement will terminate in May 2014.

14th May 2013/12,345 Comments/by Tyrepress Editors

Nokian share transfer increases Bridgestone Corp. ownership above 15%

Bridgestone Europe will transfer its shares in Nokian Tyres plc to Bridgestone Corporation on 7 May, the Japanese tyre maker told Nokian. This agreement decreases Bridgestone Europe’s ownership in Nokian to less than five per cent of share capital and Bridgestone Corporation’s ownership to over 15 per cent of the share capital.

3rd May 2013/12,345 Comments/by Tyrepress Editors

Pirelli details board nominations

Pirelli & C. SpA shares that Camfin S.p.A., as a Pirelli shareholder and member of the Shareholder Agreement of Pirelli & C., will ask Pirelli’s shareholders at the company’s 13 May Shareholders’ Meeting to confirm Carlo Salvatori as a member of the Pirelli Board (as already proposed by the company’s Board of Directors). It will also request the nomination of Jean Paul Fitoussi and Luca Rovati in place of Mario Greco and Paolo Ferro-Luzzi.

26th April 2013/12,345 Comments/by Tyrepress Editors

Croatia could join EU in July

International News, News

Croatia has been cleared to join the European Union (EU) as earlier as July, according to online news reports including BBC News.

However, the process is not yet complete. It won’t be until all 27 member states have ratified the agreement that it can go ahead. That said 19 member states have reportedly signed off on the Balkan state's EU accession. But it was not without criticism. A commission monitoring report is quoted by theparliament.com as saying the country needs to take further steps to tackle organised crime and corruption. Nevertheless Deutsche Welle cited an EU report as saying: "The commission concludes that Croatia will be ready to join the EU on 1 July 2013.”

27th March 2013/12,345 Comments/by Tyrepress Editors

Double Coin Holdings wins India trademark case

Double Coin holdings Limited’s ownership of the Double Coin trademark in India has been confirmed in a dispute between the Chinese manufacturer and local distributor, Trans Tyre (India) Private Limited. The Hindu newspaper reports that the Chennai-based Intellectual Property Appellate Board (IPAB) has ordered that the trademark registration granted to Trans Tyre in 2007 be nullified.

25th March 2013/12,345 Comments/by Tyrepress Editors

Reports: KKR close to Alliance Tire Group buyout

Reports from India suggest private equity firm KKR and Co. is in the last stage of talks to buy as much as an 80 per cent stake Alliance Tire Group. The latest news, which follows a couple of months of speculation about the deal, values the company at around US$600 million. According to livemint.com, KKR will buy out the stake currently held by another private equity firm, Warburg Pincus Llc, as well as the minority stake held by certain other stakeholders.

12th March 2013/12,345 Comments/by Tyrepress Editors

Italmatic signs Americas sales and support agreement

Tesco of America – no relation to the UK-based retail giant – has signed an exclusive service parts, support and sales agreement with Italmatic. Under the agreement, Tesco of America will serve as representative for the Italian firm’s truck, OTR and passenger car tyre retreading equipment in the US, Central America, South America and the Caribbean regions.

11th March 2013/12,345 Comments/by Tyrepress Editors

Cooper Tire and Industrias Negromex patent silica masterbatch process

Cooper Tire and Industrias Negromex S.A. de C.V. (INSA), a subsidiary of Grupo KUO, report that the US patent office has granted a patent to the two organizations for their silica masterbatch process. According to the two companies, the process to produce silane, hydrophobated silica, silica masterbatch and rubber products results in a broader processing window offering “manufacturing efficiencies” for the end user.

1st March 2013/12,345 Comments/by Tyrepress Editors