automotive parts Archives - Page 10 of 12

Amtel-Vredestein Founder Reduces Share in Company

The founder of Amtel-Vredestein, Sudhir Gupta, has reportedly sold 17.9 per cent of his holdings, reducing his stake in the Russian tyremaker to 11.4 per cent. Analysts also expect Gupta to part with the remainder of his holdings, which they say means the free-float of the company could reach 59 per cent. Should this level be reached, the position of the holding’s senior management, including CEO Petr Zolotarev, would be significantly strengthened.

Gupta sold the 17.9 per cent stake between July 18 and August 22 at a range of US$5.21 to $5.68, which reportedly created $63 million to $69 million return to Gupta. The stocks were acquired by a number of Western capital funds. Russian media also reports that “Mr. Gupta will sell all stocks of the holding and withdraw from its board of directors.”

The tyremaker owns three factories with Russia; Moscow, Voronezh and Kirov, plus a plant in Enschede, the Netherlands, as well as the AV-TO chain of stores, which sell and automotive parts. The company sold thirteen million tyres in 2006.

29th August 2007/by Tyrepress Editors

BFNAT Breaks Ground for Largest Distribution Centre

Product News

(Akron/Tire Review) Bridgestone/Firestone North American Tire broke ground for its one-million-square-foot distribution centre in Jacksonville, Florida, the company largest single distribution facility in the US. The groundbreaking ceremony included representatives of the city and county governments, as well as the Jacksonville Economic Development Commission. As part of the celebration, BFNAT made a $5,000 donation to nearby Chaffee Trail Elementary School.

With a capacity for more than one million tyres – from small passenger to commercial truck tyres – the centre will supply tyres and automotive parts to dealers in Florida, Georgia, South Carolina and North Carolina, BFNAT said. In addition, the distribution centre will supply customers across the US. with imported tyres from Bridgestone/Firestone plants in Latin America, and the Eastern half of the US with tyres made in Japan and other Asian countries.

23rd August 2007/by Tyrepress Editors

Automechanika Shanghai – December 2007

Product News

Automechanika Shanghai has gained a reputation as one of China’s most valuable professional forums for the automotive parts, components and aftermarket industry. The Automechanika show to take place in China’s largest city is scheduled for 5 – 7 December and will house a complete range of products for the automotive original equipment and aftermarket, including parts and systems, accessories and tuning, repair and maintenance, and service station and car wash. Over 700 exhibitors have already confirmed their attendance, necessitating a doubling of the size of the fair to over 46,000sqm.

When Automechanika Shanghai was last held, in December 2006, more than 12,000 visitors from 97 countries & regions attended, 38 per cent more than attended the previous show in 2004. An onsite survey revealed that around 90 per cent of visitors were people involved in purchasing decisions for their company. Of this figure 25 per cent were attendees from overseas.

10th August 2007/by Tyrepress Editors

Alcaline: ‘Continental Ideal in the Long Run’

Product News

International haulier Alcaline (UK) Limited has reported that it finds Continental tyres ideally suited to the sort of long-distance operation that takes its trucks deep into Italy and increasingly into Eastern Europe. From the UK, the company runs 40 tractor units and 60 trailers out of its base at Ashford in Kent, which is conveniently located for the Channel tunnel and Dover ferry port. Coiled steel, paper and automotive parts are the main products carried and the company plays a key role in the supply chain for several prestige car makers.

Almost all the trucks are DAF’s top-of-the range XF95 and XF105 two axle tractors – the latter being the current ‘International Truck of the Year’ – operating at 40 tonnes gross. Trailers are high-quality, tri-axle curtainsiders by Schmitz Cargobull, including ‘mega cube’ units of up to 104 cubic metres capacity, and all are on air suspension.

9th August 2007/by Tyrepress Editors

Court Approves Delphi Investment Plan

Product News

Financially troubled automotive parts manufacturer Delphi Corporation marked another milestone on its journey back from bankruptcy on August 2. The US Bankruptcy Court for the Southern District of New York gave its consent for the New Jersey based hedge fund Appaloosa Management LP and a number of other investors to inject as much as two and a half billion US dollars into the company. In return Appaloosa and the others will receive preferred and common stock in the reorganised Delphi.

The company is working towards coming out from under the umbrella of Chapter 11 bankruptcy protection – the section of the United States Bankruptcy Code allowing for the reorganisation of a company under bankruptcy court supervision – by the end of 2007, and the August 2 decision will greatly assist to this end. “This was a huge milestone,” said Delphi chairman Robert S. (Steve) Miller, “A lot of the heavy lifting is done.”

3rd August 2007/by Tyrepress Editors

2007 CITExpo Bigger Than Ever

Product News

Tyre industry watchers should be well aware of the increasing importance China is taking on the world stage. The world’s largest market for the production and consumption of tyres has attracted the attention both of local players and global giants wishing to grab a share of fast growing domestic and export sales.

The proliferation of tyre and related product suppliers can make finding those offering the best quality and value a difficult job, and the China International Tire Expo (CITExpo) are firm believers in the importance of their exhibition as a place where domestic and international buyers, tyre manufacturers, and carmakers can seek new OEM and trade partners, a fact CITExpo add has also been well acknowledged by these companies – both domestic and international – themselves. Last year’s CITExpo attracted 220 exhibitors to its 10,000 square metres of exhibition space, and over three days 6,800 visitors attended.

25th July 2007/by Tyrepress Editors

PAACE Automechanika 2007: Not an Ordinary Trade Show

Product News

(Akron/Tire Review) Last week, many North American automotive aftermarket professionals – including myself – packed their bags for Mexico City and the annual PAACE Automechanika trade show. The show this year drew more than 550 exhibitors and 19,000 attendees.

In recent years, the show has become known as a place for U.S. companies to explore expansion plans into Mexico and South America. The show is sponsored Mexico’s Industria Nacional de Autopartes (INA) along with U.S. industry association heavyweights: the Automotive Aftermarket Industry Association (AAIA), the Motor Equipment Manufacturer’s Association (MEMA), the Automotive Parts Rebuilder Association (APRA) and the Specialty Equipment Manufacturers Association (SEMA).

Whether you are a first-time attendee or veteran of the show, PAACE Automechanika always manages to amaze and educate about this growing market. According to a 2005 study by the Mexican Ministry of Economy and the INA, the Mexican aftermarket employs more than half a million people at almost 40,000 automotive parts stores and more than 146,000 repair facilities.

24th July 2007/by Tyrepress Editors

Damaged Riken Factory Not a Tyre Plant

Product News

The Riken factory in Japan knocked out of production by the July 16 earthquake is not, despite the name, in any way affiliated with tyres produced by the Michelin Group. The automotive parts plant, owned by the Riken Corporation and located in the Kashiwazaki region of Japan, suffered minor damage and a number of employees were injured. Due to the severance gas and water supplies and the necessity to check plant equipment, supply of auto parts to a number of major Japanese carmakers including Toyota, Mitsubishi and Suzuki has been severed, causing disruptions to their production schedule.

Part of Michelin’s Riken tyre line, sold in the UK through Kwik-Fit, is produced in Japan, however production at Michelin’s Japanese facilities was not affected by the earthquake. Riken tyres are also produced in Romania by Michelin Silvania.

20th July 2007/by Tyrepress Editors

Bosal Invests In Russian Plant

Product News

Global exhaust and towbar manufacturer, Bosal Group, has acquired a 244,000 square metre site at Kaluga, 180 kilometres southwest of Moscow. The largest Bosal site in the world, the Kaluga investment will feature state-of-the-art production facilities and a supplier logistics hub that will play a major role for the distribution of automotive parts in the Russian market. The Dutch-registered privately held business is one of the first OE suppliers to acquire a site at Kaluga, but OEMs including Volvo and Volkswagen have already committed to the area.

Bosal plans to construct a 153,000 square metre plant in stages, the first phase of which will see a 28,000 square metre facility completed by the end of 2008. The Kaluga site will serve as the central manufacturing and distribution hub for Bosal’s operations in Russia where it also anticipates establishing regional satellite facilities to serve OEM assembly plants.

12th July 2007/by Tyrepress Editors

Hayes Lemmerz Completes Sale of Powertrain Components Facility

Product News

On July 5 wheel and automotive parts manufacturer Hayes Lemmerz International announced the sale of Hayes Lemmerz International – Wabash, Inc., a wholly-owned subsidiary that operates its Wabash, Indiana facility, to Harvey Industries LLC, a privately held company based in the US. Under the terms of the agreement, Harvey Industries has acquired all assets of the subsidiary. The financial terms of the transaction remain undisclosed.

The Wabash facility employs about 325 employees and manufactures intake manifolds, cylinder heads, water pump housings, and cast iron exhaust manifolds. “This transaction will further enhance Hayes Lemmerz’ goal to strengthen our financial position and to focus on initiatives in select geographic regions that will improve the growth of our company,” said Curtis Clawson, Hayes Lemmerz president, CEO and chairman of the board. “At the same time, this transaction will provide the Wabash facility the opportunity to grow with Harvey Industries.”

6th July 2007/by Tyrepress Editors

OEM Wheel Maker Names New President

News

Asahi Tec, manufacturer or OEM aluminium wheels and other automotive parts and systems, has appointed a new president and co-CEO. Hideo Ishii takes on these roles, as well as that of director and representative executive officer, following the company’s general shareholders meeting on June 28.

Mr. Ishii will be responsible for Asahi Tec’s Metal Forming Group and Diversified Business Group, and will act as co-CEO alongside Timothy D. Leuliette, who also serves as co-chairman of the company with Shoichiro Irimajiri. Mr. Irimajiri had been serving as president, co-CEO and representative executive officer, and is resigning from these posts to focus on the role of director and co-chairman of the company.

“Asahi Tec’s goal is to create a strong, globally competitive company that understands and supports global markets, cultures and customers to deliver leading-edge products worldwide,” said Irimajiri. “In his role as president and co-CEO, Hideo Ishii will play a key role in developing and executing the initiatives and strategies that will help realise that goal.”

26th June 2007/by Tyrepress Editors

China Becomes Second Largest Exporter of Auto Parts to U.S.

Product News

(Akron/Tire Review) China overtook Germany in the first quarter to become the second largest exporter of automotive parts to the U.S., Shanghai Securities News reported. China exported $1.936 billion worth of auto parts to the U.S. in the first quarter this year, just topping Germany which notched up $1.934 billion U.S. dollars, according to statistics from the U.S. Commerce Department cited by the newspaper. Japan is way out in front with a substantially higher $3.57 billion.

During the same period last year, China exported $1.52 billion worth of auto parts to the U.S., less than the $1.73 billion attributed to Germany. Statistics from the China Association of Automobile Manufacturers show that China’s exports of auto parts grew at 54 per cent annually from 2000 to 2005, far outpacing the 29.5 per cent rise in imports.

13th June 2007/by Tyrepress Editors

Autobacs Forms Credit Line for Acquisitions

Product News

(Akron/Tire Review) Japanese automotive parts and accessories retailer Autobacs Seven Co. has established a committed line of credit capped at $822.8 million, to finance the acquisition of competitors inside and outside Japan. An agreement for the five-year commitment line was signed with an investment firm in the UK.

Autobacs will also soon set up a panel to discuss its planned acquisitions and include outside experts to obtain their advice. But the firm says it is “not yet at a point where the acquisition plans can be announced.”

Autobacs said it intends to boost domestic sales, including those at its franchised stores, to approximately $3 billion by fiscal 2008 from the fiscal 2006 level of $2.5 billion. In April, Autobacs reached an agreement to buy U.S. parts retailer Strauss Discount Auto out of bankruptcy for a price of up to $55 million.

4th June 2007/by Tyrepress Editors

Auto Parts Maker Announces Closure

Product News

The bankrupt US automotive parts manufacturer Delphi Corp. announced on February 22 that it plans to close its Puerto Real factory in Cadiz, southern Spain. A union representing employees at the plant has stated that as many as 1,650 workers will be affected by this closure.

28th February 2007/by Tyrepress Editors

Automechanika Coming to Canada

Premium, Product News

Automechanika, a leading international brand of automotive parts and service trade shows, will join forces with CarFixWORLD to make its debut in the Canadian marketplace. This event will be presented jointly by Messe Frankfurt, producer of what will now be a dozen Automechanika shows across the globe, and Business Information Group, publisher of over 90 media products in Canada.

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31st January 2007/by Tyrepress Editors

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