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Schaeffler to Apply for Antitrust Clearance

Following renewed talks with the EU Commission, the Schaeffler Group expects to submit the final draft of its antitrust clearance application (relating to its Continental AG purchase) during the course of the next week. The statement from Schaeffler’s Herzogenaurach headquarters could be seen as the company’s answer to reports that investors are concerned about the speed of Schaeffler’s application to the EU. 48 hours earlier the Financial Times reported hedge funds associated with Schaeffler’s takeover of Continental are “becoming increasingly nervous about the potential 12 billion (£9.4 billion) deal closing.”

Schaeffler’s statement says the group believes it is in the best interests of both company to achieve “a rapid conclusion of the process by preparing the notification in the best possible manner.” Explaining the delay of the group’s submission to the EU, the statement added: “…the EU Commission asked Schaeffler to specify the worldwide potential relations between products in neighbouring markets and corroborate this statement with financial figures. Since corresponding information is not centrally available at Continental AG, the compilation of such information is a time-consuming procedure.

8th October 2008/by Tyrepress Editors

New Website for Those Who Can “Please the Ladies”

Sadly, some garages are still patronising in their treatment of the ‘fairer sex’, and greeting female customers with a leer before steering them towards an expensive and unnecessary purchase is not always just an occurrence from back in the bad old days. Businesses where this sort of behaviour is considered acceptable, however, won’t be recommended by one particular new website. The site, foxychoice.com, has been launched with the aim of helping motorists do their garage buying homework for MOT’s and car servicing, and in particular identifying the best female friendly garages and dealerships in the area. Answers to important everyday questions are answered within the site, and motorists looking for female friendly local garages can search to suit the work required then compare qualify features and facilities before making their final choice.

7th October 2008/by Tyrepress Editors

Cooper Launches Rebate Promotion

With its U.S. plants back on-stream, Cooper launched a national rebate promotion. The “Take the Money and Ride” promotion, which runs through Dec. 31, gives consumers a $50 rebate with the purchase of four qualifying Cooper tyres at participating dealers nationwide. “We are confident in the quality and performance of our tyres,” said Hal Gardner, Cooper vice president of marketing. “A large-scale event like the national tyre sale gives us the opportunity to share that quality and performance with consumers at a price that is affordable even in a tight economy.”

The promotion features a mail-in rebate of $50 for consumers buying a set of four Cooper CS4 Touring, Cooper Lifeliner GLS or Discoverer ATR and H/T tyres. Cooper said the national effort will be promoted on commercials airing on a number of TV channels, including ABC, ESPN, ESPN2, Versus, Raycom Sports and Fox Sports Regional, as well as with in-store POS materials. (Tire Review/Akron)

7th October 2008/by Tyrepress Editors

LSUK Goes into Administration

Car parts wholesaler LSUK has gone into administration following a failed takeover attempt by competitor Euro Car Parts. All 53 branches will close, with 600 workers being made redundant. The new owners reluctantly came to the decision “after a considerable amount of non-stop work and investment into LSUK” during the five days following Euro Car Parts’ takeover bid over on 29 September. Despite their efforts Euro Car Parts’ directors realised that they had no option but to place LSUK into administration with effect from Monday 6 October 2008. This includes all 53 LSUK Branches, including MI Diesel Products, Protech Automotive (UK) and Yeovil Rewind.

In a statement on the failure of the deal Euro Car Parts explained its reasons for putting LSUK into administration: “Unfortunately, it became clear, very quickly, that it was simply going to be impossible to continue with investment without the required support, which was not forthcoming.”

6th October 2008/by Tyrepress Editors

Euro Car Parts Buys LSUK

Euro Car Parts has acquired the businesses of Pinco 1555 Ltd, otherwise known as LSUK. Euro Car Parts will take over all 53 LSUK Branches, together with subsidiaries M I Diesel Products, Protech Automotive (UK) and Yeovil Rewind. Chairman, Sukhpal Singh commented on the acquisition: “Euro Car Parts has proved its ability to grow organically in difficult times. The purchase of LSUK will further accelerate our expansion and support our quest to provide the ultimate in quality and service to the automotive aftermarket.”

He added: “Previous acquisitions by Euro Car Parts have shown our willingness to invest in the staff and fabric of companies, so as to bring them up to the same market-leading standards that have gained Euro Car Parts many awards for customer service throughout the industry.”

30th September 2008/by Tyrepress Editors

Dunlop Aircraft Tyres to Supply Fast Growing Turkish Carrier

The decision by Pegasus, Turkey’s fastest growing airline, to double its fleet with the purchase of 24 new Boeing 737-800 aircraft has been well received at Dunlop Aircraft Tyres. The Birmingham based operation has been selected to supply tyres for the new airliners.

“The news that Pegasus Airlines is doubling the size of its Boeing 737-800 fleet is positive for the company and our workforce in Birmingham,” said Dunlop Aircraft Tyres’ chairman, Ian Edmondson. “Tyres made at our site in Erdington are among those fitted to the fleet by a company in Turkey that carries out maintenance, repair and overhaul to the aircraft.”

26th September 2008/by Tyrepress Editors

Fuel Price Rises Hit Fleets

Global vehicle fleets have seen their fuel bills rise by as much as a third in the last year according to research by international leasing company Masterlease, which manages around 210,000 vehicles across Europe. With vehicle manufacturers’ continuous improvements in fuel efficiency now being swamped by escalating fuel prices, global businesses have to face the reality of increasing costs to their fleet management.

While average diesel prices have soared by a third in the last year, the story is not quite as grim for unleaded petrol – although globally it has still increased on average by 18 per cent since 2007.

25th September 2008/by Tyrepress Editors

Goodyear Chooses IMG as International Licensing Agent

Goodyear has chosen IMG Licensing, a division of global sports and entertainment company IMG, as its agency for licensing the Goodyear brand outside of North America. According to IMG, Goodyear is looking to extend the brand beyond its core products in ways that both enhance the company’s image and provide new streams of profitable revenue.

According to Bob Paciulan, manager of licensed products for Goodyear, the company has licensed close to 70 companies worldwide. “However, to take this to the next level we needed a company with local offices and licensing professionals throughout the world with a proven track record of developing brands successfully,” Paciulan stated. “IMG fit the bill perfectly and showed they understand how and where we wish to leverage the Goodyear brand. We’re very pleased to bring IMG onto the Goodyear licensing team.”

24th September 2008/by Tyrepress Editors

Michelin Purchase of Conti Tyre Division Not Feasible – Analysts

Any idea Michelin has of purchasing Continental AG’s tyre business will most likely die quietly, as analysts have poured cold water on the possibility that such an arrangement would be permitted. A number of analysts have been quick to point out that a purchase of Conti’s tyre business would be seen frowned upon; it would, after all, leave the resultant company holding 40 per cent of the European passenger car tyre market and more than half of the truck tyre market. Michael Punzet, an analyst with DZ Bank, commented to Forbes that the European Commission would thus most likely not give approval as it would break competition rules.

23rd September 2008/by Tyrepress Editors

SRF Buys Thai Baroda Tyre Cord Business

SRF Limited, the Indian market leader in technical textiles has reportedly closed the acquisition of Thai Baroda Industries Limited in Rayong, Thailand. As a result of the purchase, made through one of SRF’s international subsidiaries, SRF Group has increased its output to 65000 tonnes per annum, “making it the second largest Nylon 6 tyre cord fabric manufacturer in the world,” according to local news sources.

Thai Baroda Industries Limited has an annual production capacity of approximately 12,000 tonnes of Dipped Nylon Tyre Cord Fabric with annual sales of around $50 million.

10th September 2008/by Tyrepress Editors

Canadian Tire sells 11 stores for $164 million

Canadian Tire Corp. has sold 11 stores to two Canadian real estate trusts for $164.6 million. Canadian Real Estate Investment Trust, commonly known as CanReit, will buy eight properties for $137 million. Charter Real Estate Investment Trust will purchase three other stores for $27.3 million. Canadian Tire will continue to run the stores but will now lease these facilities and pay rent to the two companies.The properties are spread across Canada. CanReit, for example, is getting three stores in Alberta, two in Quebec and one each in British Columbia, Nova Scotia and Ontario. Canadian Tire will remain as the stores’ operators for at least the next 15 years, reducing the chances that either trust will need to find a new tenant for these properties.

9th September 2008/by Tyrepress Editors

Costin Says Tyre Change Key to Turnaround

West Midlands-based Costin Logistics, formerly AE Costin Haulage, has adopted a pence per kilometre (PPK) tyre contract in conjunction with Michelin and ATS Euromaster, as part of the company’s turnaround strategy. The PPK structured deal – which is traditionally more common with larger 3PLs – sees Costin Logistics’ fleet of commercial vehicles adopt a fully managed tyre policy whereby the company only pay for the kilometres used on tyres, but without the up front cost of outright purchase. This replaces a rudimentary policy of buying the cheapest rubber, managed internally, with the company holding its own tyre stock.

Craig Bunker, who purchased AE Costin in 2007 through his role as a Managing Director of Key3 Partners, a specialist transport turnaround consultancy, says: “The previous tyre policy was a completely false economy demonstrating the common mistake of focusing on price rather than the overall cost, as it often pays to buy quality.”

9th September 2008/by Tyrepress Editors

IBDA Forecasts Battery Price Increases

The Independent Battery Distributors Association is warning members to expect further increases in battery prices due to significant rises in material costs. Battery manufacturers have been adversely affected over the last few years by dramatic increases in the price of lead due to growing worldwide demand, particularly in Eastern Europe, China and India.

Warning of inevitable increases Godfrey Ferris, IBDA Secretary, explains: “Lead prices did fall earlier this year but are again on the rise and it is expected that this trend will persist. Whilst the current cost of $2,000per ton is still short of the $3,000 reached earlier this year, other factors have arisen that far outweigh this temporary respite.

8th September 2008/by Tyrepress Editors

Pirelli Develops New Premium “Gommoncino”

Pirelli continues to aspire to innovation in the area of truck tyres, while also acknowledging its desire to tap into new and emerging markets. Now it has developed the Gommoncino, a new 385/55R22.5 size, premium-tread FH85 Amaranto, which the manufacturer claims is able to sustain superior loads and return greater mileage. Simultaneously, the company announces that it continues to strengthen its position in emerging markets, especially in China and South America, through OE alliances with some of the world’s largest industrial vehicle manufacturers.

4th September 2008/by Tyrepress Editors

Bike Tyrestore Not Just Tyres for Bikes

Bike Tyrestore, as the company name more than suggests, predominately participates in the motorcycle tyre sector, supplying dealers and customers with quality products for two-wheeled machines. However vehicles with four wheels are not entirely spurned by the Birmingham based company – Bike Tyrestore also keeps quad bike users on (or off) the road with a healthy range of ATV tyres.

1st September 2008/by Tyrepress Editors