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EU Commission Approves VDO Purchase

Continental AG reported on November 29 that it has received approval from the EU Commission for the unconditional acquisition of Siemens VDO Automotive AG. Antitrust authority approval had already been issued by the relevant national offices. This enables Continental to close the transaction in early December and transfer the purchase amount, €11.4 billion including tax benefits of around €1 billion, to Siemens AG. The integration of Siemens VDO into the Continental Corporation will begin immediately after closing.

30th November 2007/by Tyrepress Editors

Study Shows Nokian Most Productive European Auto Company

According to an article published in the German periodical Manager Magazin, of the 500 largest stock exchange listed companies in Europe, Nokian Tyres is the most productive company in the automotive sector. In its study, the magazine measured the economic success and productivity of Europe’s 500 largest listed companies, with the aim of showing which companies produce wealth for investors and which consume it.

Nokian came out on top in the automotive sector, ahead of Porsche at number two. The company’s nearest ranked direct competitor was Continental, in third place. The automotive sector was but one of 20 categories included in the report, and Nokian Tyres was placed 63rd across the board.

29th November 2007/by Tyrepress Editors

Ford Reaches Settlement in Explorer Rollover Lawsuit

The Ford Motor Company has reached a settlement in the well-known class-action lawsuit that claimed the company’s popular Explorer SUV was prone to rollovers. This settlement comes two years after Bridgestone Firestone agreed to pay Ford US$240 million to settle liability over the recall of 6.5 million tyres in 2000 and 2001, a recall that took place in response to a number of fatalities in accidents caused by tread separation.

29th November 2007/by Tyrepress Editors

Phil Hopper Joins Harvie Prema Team

Mark Prince, UK sales manager at Harvie Prema has announced the recent addition of Phil Hopper to his team. Hopper will take on an active sales role in the field, servicing customers in the North Wales, Liverpool & Merseyside region. Phil brings with him a broad knowledge of the tyre industry and the automotive after market. After a long and successful career already in direct sales he commented that he is looking forward to what he sees as a great opportunity to further his career in sales with an established company bursting with ambition and tremendous capacity for future growth.

28th November 2007/by Tyrepress Editors

Conti Signs European Road Safety Charter

On November 26 Continental AG added its signature to the European Road Safety Charter, a document outlining the goal to halve the number of fatalities on roads within the European Union by the year 2010; in other words, a reduction to 25,000 from 50,000 EU road deaths recorded in 2004. With the signatures of Continental’s board executive Dr. Hans-Joachim Nikolin and the European Commission Vice President, Jacques Barrot, Continental AG commits itself to supporting this initiative.

“For years now Continental has been engaged in the development of intelligent automotive safety systems and in initiation of educational and research projects, including programs aimed at children and young people, all of which is intended to improve European road safety,” underscored Dr. Nikolin at the ceremony in Brussels. “Our signature under the European Road Safety Charter moves us closer to realisation of Vision Zero. For us that means making future road traffic even safer.”

27th November 2007/by Tyrepress Editors

Counterfeit ContiTech Drive Belts Seized and Shredded

In ContiTech’s second recent success against product piracy, roughly 19,500 counterfeit drive belts and packages with ContiTech labelling were seized by customs authorities in Malta and then destroyed upon release by the courts. The counterfeits entered the Mediterranean country along with other automotive aftermarket fakes via container shipment. “To underscore our determination to rigorously pursue product piracy, we took legal action in this matter at our own expense and had the fakes destroyed,” said Jürgen Grefe, head of automotive aftermarket sales in the ContiTech Power Transmission Group. At the beginning of November the counterfeits were tossed into a gigantic shredder and reduced to rubber shavings.

As reported in early November, ContiTech has stepped up its efforts to curtail trade in product forgeries. The company intends to send a strong message, a move it believes in the interest of consumer protection. “As a rule phoney products are not made of the same material and do not exhibit the same quality workmanship as ContiTech drive belts. If a belt tears, this could result in costly engine damage,” commented Grefe, citing the reason for taking this step.

21st November 2007/by Tyrepress Editors

Lamborghini Selects Beru f1Systems for TPMS

Automotive engineering specialists BERU f1systems has announced that it is supplying its award-winning digital tyre pressure monitoring system (TPMS) DigiTyre to Lamborghini for the Gallardo and Murciélago platforms. The safety feature, developed using Beru f1systems’ motorsport experience, is based on the technology of BERU’s Tire Safety System (TSS), which is fitted on vehicles by Audi, BMW and Porsche. DigiTyre is standard fit on US Gallardo and Murciélago models to comply with the TREAD act. (The TREAD act makes it mandatory for passenger vehicles and light trucks sold in the USA to be fitted with a pressure monitoring system).

Specialist and niche vehicle manufacturers rightly demand robust and integrated solutions,” says BERU f1systems’ managing director John Bailey. “The higher speeds, higher cornering forces and demands experienced by performance cars rule out many solutions currently available. Our system is robust, light yet still retains all the integration features such as end of line testing and dealer diagnostics that OEMs require.”

20th November 2007/by Tyrepress Editors

Trelleborg to Divest Coventry Facility

Trelleborg disclosed its intention to close the company’s operations in West Thurrock at its Capital Markets Day in November 2006, and now, a year later, Trelleborg has announced it has entered an agreement in principal to divest its operations in Coventry, which belong to Trelleborg Automotive UK. Trelleborg states that the Coventry operations will be taken over by the company’s management.

This decision comes as part of Trelleborg’s ‘strategic and operational action program’ within the Trelleborg Automotive business area, and Roger Johansson, Business Area president of Trelleborg Automotive, commented: “This operation is not part of Trelleborg’s core business, it has few synergies with our remaining activities and is limited in size. The transaction will enable us to further focus our automotive operations, at the same time as the business conducted in Coventry will now have an opportunity to grow within its particular area.”

19th November 2007/by Tyrepress Editors

Thomas P. Capo Named Director of Cooper Tire & Rubber

Cooper Tire & Rubber announced on November 15 that its Board of Directors has named Thomas P. Capo as a director of the company. Mr. Capo serves as chairman of the board for Dollar Thrifty Automotive Group Inc, a $1.7 billion car rental company, and also serves as co-chairman of the board of Microheat Inc., a privately held tier-one supplier to the automotive industry. Mr. Capo is an advisor on business, financial and investment strategy to various companies and organisations. He previously served on the boards of JLG Industries Inc., a $2.3 billion access equipment producer, and Sonic Automotive Inc., an $8.0 billion automotive retailer.

Mr. Capo served as senior vice president and treasurer of DaimlerChrysler Corporation from 1998-2000. Prior to 1998, he held the positions of vice president and treasurer of the Chrysler Corporation and vice president and controller of Chrysler Financial Corporation. He earned a bachelor’s degree in accounting and finance, a master’s degree in business administration and a master’s degree in economics, from the University of Detroit Mercy, Detroit, Michigan.

19th November 2007/by Tyrepress Editors

EU Extends Deadline for Continental Buy of Siemens’ VDO

(Akron/Tire Review) News reports say that the European Commission has extended the deadline for its inquiry into Continental AG’s proposed 11.4 billion euro acquisition of Siemens AG’s VDO automotive electronics unit to November 29. The original deadline was November 15.

15th November 2007/by Tyrepress Editors

Yokohama Begins ‘Forever Forest’ Project

Yokohama Rubber’s inaugural “Yokohama Forever Forest” tree planting ceremony, held at is factory in Hiratsuka City, Japan, proved to be a highly successful introduction to the tyremaker’s long-term tree planting initiative. Around 3,500 local residents and Yokohama employees, with family members, attended the factory site on Sunday November 11 and planted about 27,000 seedlings. Yokohama reports that 54 varieties of tree were planted on the day, including tabu (persea), shii (castanopsis) and akagashi (quercus acuta).

15th November 2007/by Tyrepress Editors

New Potential Tiger Auto Buyer Appears

South Africa’s Tiger Automotive has confirmed it received a written expression of interest in purchasing the company from prominent South African private equity manager Ethos Private Equity. The company has offered to pay R 1.05 billion (£76.2 million) for Tiger Automotive. However, Tiger Automotive added that this document is in no way a binding offer, nor is it a notice of firm intention to make an offer on the tyre and wheel distributor.

15th November 2007/by Tyrepress Editors

Smithers Rapra, the Polymer Specialist

Smithers Rapra Technology Limited is better known as Smithers Rapra, a wholly owned subsidiary of the Smithers Group and recognised as a world leading plastics and rubber consultancy. The company has premises in two UK sites – Shawbury, Shropshire and Billingham, Cleveland – and can provide clients with a comprehensive independent service, including technology and information services for the polymer industry and for industries that utilise plastics and rubber in any component, product or production process.

The industries supported by the services Smithers Rapra provides are varied and include the commercial, industrial, pharmaceutical, automotive and transport sectors; a diverse range of business, yet all requiring specialist assistance in the area of polymers. Smithers Rapra can provide a mix of on-site expertise and facilities that enable the application of an integrated approach to problem solving, and the company believes the core capabilities possessed by Smithers Rapra lie in the skills and experience of its people, many of whom are recognised and accepted as leading experts in their field.

14th November 2007/by Tyrepress Editors

Conti Names Director of Dealer Sales

(Akron/Tire Review) Jim Sicking has joined Continental Tire North America as its new director of independent dealer channel sales for its passenger/light truck tyre unit. Most recently, Sickling was national accounts manager for Phillips Industries. “We are pleased to welcome Jim Sicking to the CTNA family. He has extensive experience in the automotive industry, and we’re confident that under his leadership, we will see significant gains in our dealer sales in the coming years,” said Andreas Gerstenberger, executive vice president of PLT replacement sales and marketing.

14th November 2007/by Tyrepress Editors

RMA Sets US National Tire Safety Week Dates

(Akron/Tire Review) In the US the seventh annual National Tire Safety Week will be held between April 20 and 26, 2008, the RMA has announced. The event is part of RMA’s “Be Tire Smart – Play Your PART” program. RMA said that National Tire Safety Week participation grew from 15,000 retail outlets in 2006 to 18,500 in 2007. Partners in RMA’s Be Tire Smart program include a wide range of independent tyre dealers, such as American Car Care Centers, Big 10 Tires, Belle Tire, Big O Tires, Discount Tire Co., Expert Tire, Just Tires, Kaufman Tire, Les Schwab, Merchant’s Tire, National Tire and Battery (NTB), Northwest Tire, Peerless Tires, STS Tire and Auto Centers, Sullivan Tires, Tire Factory, Tire Kingdom, Tire One, Tires Plus, Tire Warehouse, Town Fair Tires, VIP Parts, Tires and Service, and many others.

Also supporting the RMA program are non-independents and trade groups such as the National Automobile Dealers Association (NADA), Pep Boys, Sears Automotive Centers, Firestone Complete Auto Care, GCR Tire Centers, Goodyear Auto Centers, Wal-Mart Tire and Lube Express, Costco, Automotive Service Excellence, Tire Industry Association (TIA) and AAA.

9th November 2007/by Tyrepress Editors