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NASDAQ Chastises Hayes Lemmerz Over Late Results Publication

On 4 May 2009 Hayes Lemmerz International, Inc. received an exchange listing non-compliance letter from the Nasdaq stock exchange notifying the company that it was “no longer in compliance with the rules for continued listing according to Listing Rule 5250(c)(1),” which refers to the prompt publication of financial results. According to a statement issued by Hayes Lemmerz, the letter comes as a result of its failure to file its annual report on Form 10-K for the fiscal year ended 31 January 2009 with the US Securities and Exchange Commission. Hayes has until 3 July 2009, to submit a plan to regain compliance with Nasdaq’s continuing listing standards. The company says it expects to file its Form 10-K on or before 15 May 2009. The notification has no effect on the listing of the common stock of Hayes at the moment.

12th May 2009/by Tyrepress Editors

Vredestein Launches Ultrac Cento

Dutch tyre manufacturer Vredestein has launched the new Ultrac Cento high performance tyre. At the launch, Vredestein UK managing director, Stuart Jackson explained that the company is aiming its latest tyre at the kind of high mileage, high performance motorists that drive Mercedes, Audis and other 16 to 17-inch 45 to 55 series fitments.

The Centro is 20 per cent lighter than its predecessor and has been developed with compliance to the new EU noise, wet grip and rolling resistance regulations that are scheduled for introduction in 2012. Therefore, as you would expect, it includes a –SW (noise and wet grip) mark on its sidewall signifying this. It is Y-rated, indicating that its can cope with speeds up to 300 km/h, and is already available in 13 sizes. This includes two run-flat fitments – 225/50 R17 94Y and 225/45 R17 91Y.

28th April 2009/by Tyrepress Editors

Bridgestone Chooses not to Appeal Cartel Fine

On January 28, Bridgestone Corporation (BSJ) and its UK subsidiary, Bridgestone Industrial Ltd. received notice from the European Commission regarding a 58.5 million euro fine for the company’s alleged participation in an international marine hose cartel. BSJ reported on April 16 that, after careful consideration, it has decided the most appropriate action for it to take is to bring the course of proceedings to an end and focus upon the “reinforcement of its compliance system and promotion of preventive measures.” Therefore, BSJ confirms it will pay the imposed fine rather than appeal the decision.

16th April 2009/by Tyrepress Editors

Marangoni Adds to ‘Marix Ecology’ 4×4 Retread Range

According to Marangoni, its Marix Ecology range has proven a popular choice for off-road drivers thanks to a series of products designed for extreme use, such as Lion and Puma. Both of these tyres feature substantial tread blocks, and for this reason are sought by those who use their 4×4 for work or in sporting competitions, and want a tyre with good grip and drainage capacity. The latest additions to the Marix 2008 range are the Cruise and Ghepard, the latter a high performance tyre for SUVs that is approved for high performance and available in 17 and 18-inch sizes. Marangoni says the Ghepard ensures comfort and maximum grip in all conditions thanks to the use of high performance compounds.

27th March 2009/by Tyrepress Editors

Norbar’s New Wrenches

Norbar has enhanced its range of torque wrenches with the addition of two brand new TruTorque models ideally suited to tough environments. The new models increase the TruTorque range of wrenches from 1N.m to 300 N.m and encompass outstanding durability.

Philip Brodey, Sales & Marketing Director of Norbar, said: “This development provides our customers with even greater reliability, resilience and range of choice. The Trutorque is accurate to +/– 3 per cent of reading, which exceeds all international standards. And, as each wrench is supplied with a coded calibration certificate it makes compliance and traceability an exact science. We believe our design team has produced the best tool for UK and World markets at a very competitive price.”

20th March 2009/by Tyrepress Editors

Klaus Rosenfeld New Schaeffler CFO

The Schaeffler Group has appointed Klaus Rosenfeld (42) to the company’s executive management board (effective 18 March 2009) where he will assume the post of chief financial officer (CFO). Prior to joining Schaeffler, Klaus Rosenfeld was a member of the management board of Dresdner Bank AG from 2002 and was responsible for the areas Finance/Controlling, Compliance und Corporate Investments.

According to Reuters Rosenfeld is had been expected to step down from Dresdner Bank following its takeover by Commerzbank earlier this year. Rosenfeld replaces Thomas Hetmann (46) who the company announced was stepping down on 18 February. Schaeffler Group thanked Mr. Hetmann for his “hard work and dedication to the company.”

18th March 2009/by Tyrepress Editors

Kwik-Fit Fleet & Leasedrive Velo Extend Relationship

Kwik-Fit Fleet’s association with the Leasedrive Velo Group continues with the signing of a new three-year contract to provide a range of fast fit services to the vehicle management group. The independent fast fit operator has maintained a relationship with the company since the days before Leasedrive and Velo merged in 2007, and this latest contract replaces the initial 12-month agreement signed following the merger.

13th February 2009/by Tyrepress Editors

Advanced ID Restructuring to Affect UK Operations

A letter to shareholders in Advanced ID Corporation, sent by company chairman Seymour Kazimirski on February 9, indicates that changes to the firm’s UK operations are afoot. Specific details of these changes and what they mean to the company’s Derbyshire based Pneu-Logic subsidiary, however, were not set out.

“As we enter the New Year, I would like to take this opportunity to summarise the goals we have established for 2009,” began Kazimirski. “You are all well aware of the challenges we faced in 2008 with the systemic breakdown of the capital markets worldwide. More specific to Advanced ID, we experienced the meltdown of the auto industry, which has greatly impacted the tyre industry. Estimates of decreased global tyre production are upwards of 40 per cent. We are working to meet these challenges.”

10th February 2009/by Tyrepress Editors

BSI Promotes Kitemark Garages to Fleets

The BSI Kitemark campaign is promoting its registered garages to businesses and fleet managers as a way of “eradicating any potential dangers.” According to a press release published on 23 January, fleet managers can be reassured that by using a Kitemark garage the risk of poor repairs has been lowered, not just the cost.

In its report BSI refers to the Health and Safety Offences Act 2008, which came into force on 16 January 2009. This new Act increases penalties and provides courts with greater sentencing powers for those who break health and safety law. Therefore managers who turn a blind eye to maintaining the company’s business cars regularly will be more severely punished. The importance of specifically replacing car tyres was also highlighted.

23rd January 2009/by Tyrepress Editors

ATS Euromaster Wins Lloyd’s TSB Autolease ‘Conquest’ Deal

ATS Euromaster has gained the Lloyds TSB Autolease tyre supplier contract, the UK’s second largest hire fleet in the car and van sector. The new three year agreement sees Lloyds TSB Autolease adopt a completely new tyre policy with Michelin tyres being fitted as replacements across its fleet. These will be fitted predominantly through ATS Euromaster’s nationwide network of 470 service centres and fleet of mobile service vehicles, which can be booked to fit tyres at a customer’s home or place of work.

Steve Phillips, Deputy Operations Director at Lloyds TSB Autolease, says: “What came out very clearly through the tendering process was ATS Euromaster and Michelin’s willingness to work in partnership with us to deliver a quality service that really adds value to our customers.

10th November 2008/by Tyrepress Editors

Rogue Drivers Forced Off The Roads

The number of rogue drivers on Britain’s roads has dropped significantly, the results of a joint police and Government operation, released by the Department for Transport, indicate. Compared with a similar operation in 2006, fewer motorists were found to be driving without a valid licence, insurance or MOT. Operation V79, carried out by the Association of Chief Police Officers (ACPO) and its Scottish counterpart ACPOS in partnership with the Department for Transport, showed that:

* The level of unlicensed drivers stopped fell by half over two years – to 0.8 per cent from 1.6 per cent in 2006
* The level of uninsured drivers stopped fell to 1.2 per cent from 1.9 per cent in 2006
* The level of vehicles stopped which required but were without a current MOT fell to 1.5 per cent from 4.2 per cent in 2006
* The level of drivers stopped without valid vehicle tax fell to 1 per cent from 2 per cent in 2006
* The level of drivers committing a serious offence, such as no insurance, or driving whilst disqualified, fell to 3.4 per cent from 7.5 per cent in 2006 while the number committing any of the offences looked for – which included failing to notify change of vehicle ownership, illegal vehicle number plates – fell to 11.1 per cent from 21 per cent in 2006.

10th November 2008/by Tyrepress Editors

Conti Concludes “Far Reaching” Agreement with Schaeffler

After more than a month of talks and controversy, on August 21 Continental AG announced it has entered into what it calls a ‘far reaching investment agreement’ with Schaeffler KG, Mrs. Maria-Elisabeth Schaeffler and Mr. Georg F.W. Schaeffler. The agreed upon deal sees Schaeffler increase its offer to 75 euros per Conti share, however this “new chapter in its Corporate history”, to quote Continental, will be one without CEO Manfred Wennemer; Mr. Wennemer has asked the Conti supervisory board to release him from his responsibilities by August 31, 2008. The supervisory board has agreed to this request, noting great respect for Wennemer’s achievements. His successor will be appointed in the immediate future.

21st August 2008/by Tyrepress Editors

Apollo Drops Hungarian Factory Plans

A question mark now hangs over Apollo Tyres’ future direction in Hungary following the company’s decision to withdraw its application to establish a facility in the city of Gyöngyös. Apollo planned to build a greenfield operation to house its European Manufacturing and High Technology Centre, however delays and local opposition has dampened the company’s enthusiasm for the project. This news comes barely a fortnight after Apollo admitted production at the facility would not feasibly begin before 2010 because of hold-ups in the land acquisition and regulatory clearance process.

15th August 2008/by Tyrepress Editors

Parts Suppliers Comment on NHTSA Proposal

Motor & Equipment Manufacturers Association (MEMA) has weighed in on NHTSA product marking recommendations for imported vehicles and vehicle part. The group’s input came in response to NHTSA’s request for comments its proposed regulations. Various MEMA sub-groups – including the Heavy Duty Manufacturers Association and the Automotive Aftermarket Suppliers Association – participated.

MEMA said that NHTSA’s product marking recommendations “go beyond just the ‘country of origin’ mark by adding the following: manufacturer name or trademark; date or date range of manufacture; and, any marking requirements from an industry standard or recommended practice.

11th August 2008/by Tyrepress Editors

Calls for Winter Tyre Restrictions in New Zealand Renewed

Pressure is mounting in New Zealand for the government to legislate against the importation of used cold weather tyres. These tyres, known as snow tyres in New Zealand, are regularly entering the country fitted to used vehicles imported from Japan – the most common source of second hand cars in this country – or loose in containers. While the tread depth on these tyres exceeds the 1.5mm minimum required in New Zealand, they are often fitted to vehicles also fitted with summer tyres and used in conditions they were not intended for. The inappropriate use of these tyres has been linked to several fatal accidents.

28th July 2008/by Tyrepress Editors