The trip to Essen every two years has been a fixture for those active in the tyre industry within Europe and beyond for around half a century, but as of 2018 the renowned Reifen exhibition will have a new home some 45 miles away. The show’s organiser took the decision to leave the city synonymous with the exhibition after plans to modernise the ‘Messe Essen’ site were turned down by a local referendum on 19 January.
A securities class action lawsuit has been filed against Cooper Tire & Rubber and certain of the company’s senior executives by a number of investors. The lawsuit was filed in the US District Court for the District of Delaware. The complaint alleges that Cooper violated the federal securities laws by issuing a series of materially misleading statements and omissions in connection with the proposed acquisition of the company by Apollo announced on 12 June, 2013. In addition, the complaint alleges that Cooper misrepresented Cooper’s financial condition, financial prospects, and the effectiveness of the Company’s internal controls.
Grouptyre’s top independent customers claimed a trip to New York City in early December as part of the 2013 Grouptyre Rewards programme. The dealers earned a place for themselves and a partner by purchasing volumes of exclusive brands Evergreen, Federal and Goodride tyres from the wholesaler during 2013.
Taiwan’s Federal Tyres has signed up as title sponsor of the ‘King of Europe’ drift series. The tyre maker will give its brand name to the King of Europe Street Legal and the Queen of Europe Ladies League for the 2014 season and will also be the official tyre sponsor.
German-based Pirelli company Pneumobil GmbH has established its first flagship ‘Driver’ centre. The Driver store in Frankfurt opened its doors on Friday 13 September, and this will hopefully prove a lucky date for the new premium concept. Pirelli intends to expand the Driver network, however it has not outlined its future rollout plans or indicated whether the Driver centre concept will be extended to other markets.
Federal-Mogul Corporation has appointed Andrew Bevington as managing director, Vehicle Component Solutions UK & Ireland. Bevington previously worked at EXIDE technologies, where he has honed his skills and expertise over the last five years. During this time he has developed a number of key relationships in becoming a well-known figure in the marketplace, and is relishing the opportunity to apply his insight to the continued delivery of excellence for Federal-Mogul’s established distributor customers.
Taiwan’s Federal Tyre has become the latest tyre manufacturer to sign a sponsorship agreement with Manchester United FC. The three-year agreement, making Federal United’s Official Tyre Partner in Russia and Taiwan was launched at the Interauto Show in Moscow, led by Federal CEO, Jamie Ma.
On 26 July, the Hart-Scott-Rodino (HSR) review period for Apollo Tyres’ pending acquisition of Cooper Tire & Rubber expired with no action taken by the Federal Trade Commission or the Department of Justice in the US. In a statement issued on 2 August, Cooper Tire explained that the expiration of the HSR review period satisfies one of the conditions necessary for the acquisition transaction to close. Cooper and Apollo now expect that, subject to the remaining customary closing conditions, the transaction will be completed before the end of the year.
Nearly year after the UAE banned the sale of used tyres, local news sources report that an import ban has been added to measures designed to curb the part worn trade. The new law is part of a tyre management plan implemented by the Emirates Standardisation and Metrology Authority (Esma), which will implement the ban on the import of used tyres in September. In the meantime, the existing federal law is “being openly flouted by traders and workshops in Sharjah and Dubai”, according to Gulf News.
Pirelli’s factory in Silao, Mexico, which was inaugurated in May 2012, has produced its millionth tyre and is gearing up to become the Italian tyre maker’s dominant NAFTA region supplier. Covering an area of 135,000 square metres, the Silao plant’s capacity will reach 3.5 million tyres in 2015. When fully operational in 2017, production is expected to reach 5.5 million pieces, according to Pirelli. The tyre maker’s total investment through 2017 will amount to approximately US$400 million.
The worst of the flooding in Central Europe is now over and the time has arrived to clean up – an effort that some estimate will cost up to €12 billion. Continental has chipped in towards these efforts with a donation of €250,000.
Federal launched its Formoza AZ-01, the company’s latest flagship product, in Bologna. In addition the company display a selection of its latest products and technology including the 595RPM which is aimed at super cars, the 595EVO FRF ultra high performance tyre and the Himalaya ICEO studless snow tyre. At the same time the Couragia FX asymmetric SUV was on show. This product, say company representatives is aimed at meeting the so-called 3H demands of luxury SUVs – that is high horse power, high centre of gravity, and Hhgh chassis. At the same time the Couragia XUV─A, a new SUV all-season Touring tyre was also exhibited.
Taiwan’s Federal Tyres recently appointed Rito Marketing its exclusive distributor in Malaysia. Commenting on the decision, Jerry Lai, Asia sales executive of Federal’s Global Sales Division, commented: “Rito Marketing is a firm with an excellent reputation and we are sure they will be a first-rate ambassador in Malaysia for the Federal brand, as we hope our local customers will benefit from our product expertise and Rito’s market knowledge.”
MTS Systems Corporation describes the tyre testing system it has installed at the US-based National Tire Research Center (NTRC) as the “world’s most advanced tyre testing system”, and reports the facility is now fully operational.
Independent UK wholesaler Grouptyre offers an extensive choice of van tyres from its exclusive brands Evergreen, Federal and Goodride. Covering a wide range of sizes for all light commercial vehicle operations, Grouptyre says it has a van tyre for every use. The company adds that its delivery service is unrivalled, and therefore it can ensure it can get the right tyre to its customers whenever they’re needed.
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