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Siemens Selling VDO Unit to Conti

Continental AG will become the proud new owner of Siemens’ VDO automotive electronics unit after agreeing upon a deal worth 11.4 billion euros. The details of the sale were confirmed at a meeting of Siemens’ supervisory board on July 25. Following the sale, which must first be granted approval from the relevant antitrust authorities, Continental will become one of the world’s five largest automotive suppliers. Assuming no delays in antitrust clearance occur, the sale should be closed towards the end of this year’s fourth quarter. Integration will be concluded by the end of 2009.

The sale to Continental spells an end to the possibility of an IPO for the VDO unit as previously considered. At the same time as this deal was approved Siemens also announced its intention to purchase the US manufacturer of medical equipment Dade Behring for US$7 billion

25th July 2007/by Tyrepress Editors

PAACE Automechanika 2007: Not an Ordinary Trade Show

(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

Conti & TRW Inflate their Siemens VDO Bids

During the weekend of 21-22 July both Continental AG and TRW Automotive submitted bids in excess of 12 billion euros for Siemens’ VDO unit. This news was reported in the German financial newspaper Handelsblatt and draws upon unspecified sources within the financial industry. The companies involved have chosen to neither confirm nor deny the report.

As part of their offer TRW and Blackstone, the private equity company backing the TRW bid, have allegedly promised not to close any factories in Germany. The Siemens supervisory board is expected to meet on July 25, at which time it will discuss whether to sell the VDO unit to either Continental or TRW instead of floating it in an IPO.

23rd July 2007/by Tyrepress Editors

Damaged Riken Factory Not a Tyre Plant

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

Hankook to Show New European Made Tyres at IAA

Hankook Tire will showcase its first European-made tyres, low rolling resistance tyres at this year’s 62nd IAA Car Show. In addition to the products offered to car manufacturers, Hankook Tire offers innovative products which are also affordable on an average income. One example here is a new UHP-product, which will – at the fair in Frankfurt – be shown to the public for the first time to be launched in Europe within spring 2008.

Visitors will also have the opportunity to obtain information about the eco-friendly Hankook Optimo K715 from the recently started European production. It has already been tested by the independent German consumer-protection organisation Stiftung Warentest (issue 03/2007), with the overall ranking “good”. According to Stiftung Warentest, the Optimo K715 contains also the lowest amount of harmful ingredients of all 29 tested tyre makes.

19th July 2007/by Tyrepress Editors

Conti Appoints New International Press Officer

Continental has made a new addition to their Passenger & Light Truck Tire division’s press team. Starting July 1 was new international press officer Ansgar Wilkendorf (48). Wilkendorf’s main duties are coordinating activities between headquarters and the international market organisations for passenger and light truck tyres and providing assistance in the day-to-day business.

“I am very much looking forward to this new challenge with a leading German tyre manufacturer,” said Wilkendorf. In the past fourteen years he worked as a motoring journalist, since 2002 as editor-in-chief of a major European magazine reporting on the automotive world. Trained as a motor mechanic, Wilkendorf’s life has revolved around motor vehicles, and he is thus well acquainted with the needs of the groups he will be working with. As international press officer, Wilkendorf reports to the head of Public Relations – Passenger and Light Truck Tire, Alexander Lührs.

18th July 2007/by Tyrepress Editors

American Racing to Focus on Auto, Racing Wheels

(Akron/Tire Review) Wheel maker American Racing Equipment to dropping its lines of motorcycle wheels to focus entirely on automotive and racing wheels. America Racing owns and markets such brands as TIS, Weld, Bod Coddington, Motegi, Dropstars, Dale Earnhart Jr. and American Racing.

“The exclusive focus of American Racing and its family of brands will be on market leadership in the automotive wheel aftermarket and professional racing wheel market,” said Steve Tooker, ARE’s CEO. “The decision was extremely difficult, but the move will allow us to focus our operations on pursuing our goal of serving as a market leader in both the automotive aftermarket and in professional racing.”

13th July 2007/by Tyrepress Editors

BEN Sets Sail for Charity

This year the automotive industry charity BEN will make its debut in an extremely demanding event, the notoriously gruelling ‘Rolex Fastnet yacht race’. The BEN entry into the 608 miles race, which starts on August 12, is being made in the form of a joint team effort along with Business Development & Marketing Ltd. (BDM), and the combined crew will be sailing on a 60-foot yacht called L’isme.

The entry has been arranged by Mike Surridge, managing director of BDM, an organisation working predominately within the automotive sector. When not wearing his managing director’s hat Mike Surridge is a commercially qualified and experienced skipper with a number of passages, races and teaching experiences under his ‘keel’. By entering in the race the crew of 8 guests and 2 core crew members will raise £9500 for BEN.

11th July 2007/by Tyrepress Editors

Bosch Worldwide Chief Visits Euro Car Parts

Euro Car Parts recently welcomed Mr Robert Hanser, Automotive Aftermarket President, Robert Bosch GmbH, to their Wembley HQ.

Already one of Bosch’s largest UK distributors, Euro Car Parts is expanding rapidly, with eight new branches opened so far in 2007.

Mr Hanser, who was very impressed by the successful development of Euro Car Parts since his previous visit eight years ago, said “I am convinced that ECP will have a bright future in the British Automotive Aftermarket offering the BIS and BCS programs and being very committed to face the challenges of this sector very professionally.”

10th July 2007/by Tyrepress Editors

Conti Invests in China Engineering Centre

Continental’s Automotive Systems Division has announced plans to build a dedicated engineering centre in China. On July 10 the company announced in Shanghai that 48 million euros have been earmarked for the project, which will be comprised of two facilities, an office site with design and test labs in the Yangpu District of Shanghai and a site containing large-scale equipment for bench testing. This second site will be an extension of the existing Continental Automotive Systems Shanghai facility in Jiading. The Yangpu site will also serve as the new Asia headquarters of Continental’s Automotive Systems, ContiTech and Passenger & Light Truck Tire divisions. Both facilities will be fully operational at the beginning of 2009 and provide employment for about 450 people, with the potential for this number to increase to 600 by 2011.

10th July 2007/by Tyrepress Editors

Maxxis Launches New Victra Z4S UHP Tyre

(Akron/Tire Review) Maxxis International USA has introduced the Victra Z4S ultra-high performance tyre, which, Maxxis said, offers handling and traction on wet, dry or snowy surfaces.

The new tyre features a solid centre rib for high-speed stability; silica tread compound for fuel economy and wet and dry traction; reinforced steel belts for high-speed stability and long tread life; multiple snow-biting grooves and “optimal” siping for traction on snowy surfaces; four high-void, circumferential main grooves to expel water; five-pitch tread blocks and two-in-one groove designs for a quiet ride; V-shaped unidirectional grooves for handling on wet and dry roads; Hard bead-filler compound for cornering, acceleration and handling; and reinforced casing and body-ply structure for handling and stability.

10th July 2007/by Tyrepress Editors

Michelin Energy Saver OE for New Peugeot

When the all-new Peugeot 308 begins to arrive at dealerships it will most likely be wearing tyres from Michelin’s new Energy Saver range. Energy Saver tyres will be fitted to versions of the Peugeot 308 1.6 HDi 66 & 80 kW (90 & 110 hp) sold in Europe and equipped with 15 or 16-inch wheels. The French tyremaker has for some time worked with Peugeot in developing innovations for the new model, a partnership Michelin believes has made a significant contribution to the car’s energy balance.

The Energy Saver, according to tests conducted this year by TÜV SÜD Automotive on 195/65R15 size tyres, has a rolling resistance of 20 per cent, reducing the amount of energy required for traction. As the test results bear out, the Michelin tyre thus delivers above market average fuel efficiency. Results showed savings of almost 0.2 litres per 100 kilometres in combined cycle driving, providing for CO2 emission reductions of close to 4 grams per kilometre. Over the average life of a vehicle this represents about one tonne of CO2 not released into the atmosphere – Michelin claim this is the same amount absorbed by 40 trees in a year.

10th July 2007/by Tyrepress Editors

Myers Industries Shareholder to Vote Against Proposed Purchase

(Akron/Tire Review) On July 23 in Akron, Ohio, Myers Industries shareholders are expected to vote on the proposed $1.07 billion purchase of Myers Industries by GS Capital Partners, a private-equity unit of Goldman Sachs.

One of Myers Industries’ shareholders, Mario Gabelli, stated in a letter filed with the Securities and Exchange Commission that he would vote against the merger proposal. Gabelli’s investment company holds more than 3.1 million shares (8.9% of outstanding shares) of Myers Industries.

In his letter, Gabelli stated that federal TPMS requirements present opportunities for the company’s automotive service business and that financial projections do not include benefits gained from a potential financial restructuring. However, Myers Industries’ board of directors reportedly supports the purchase.

9th July 2007/by Tyrepress Editors

ADL Appoints New Sales Manager

Hans-Dietmar Fiedler joined ADL in March 2007 as a sales manager. According to the company he has “outstanding experience” in the automotive world and his professional career, in contrast to his technical background, is very sales driven. His appointment strengthens the company’s international position with his French, English and Spanish skills. Fiedler can be contacted on on +49 171 227 6279 or by email at hd.fiedler@adl-sa.de.

9th July 2007/by Tyrepress Editors

Hayes Lemmerz Completes Sale of Powertrain Components Facility

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