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Broadway Tyres Lifts the Lid on New Dealer Training

Several months after unveiling its new corporate identity, Broadway Tyres is making steady progress on the roll out of its rebranding. Depots, vans, staff uniforms and office stationery are now increasingly seen sporting the distinctive new double-tyre Broadway “B” logo. But the company has not stopped at merely sprucing up its image. In late September Broadway Tyres ran the pilot of a new training programme aimed at increasing professionalism amongst the approximately 1,200 independent tyre dealers that purchase from the company – and increasing their ability to generate strong sales.

“I want Broadway Tyres to become a world class company,” stated managing director Jonathan West to an audience of industry representatives – the ‘guinea pig’ audience for this first-ever training session. “And we are committed to our customers’ success as much as our own.” These customers, the smaller independent tyre dealerships that make up 29 per cent of the market, have been the cornerstone of Broadway Tyres’ past success, and West is confident this will continue to be the case.

1st October 2007/by Tyrepress Editors

Ross Thompson Trials Michelin XTE2

Newry-based Ross Thompson Ltd, a long established haulier in Northern Ireland, is currently monitoring the performance of the Michelin 385/65 R22.5 XTE2 tyres on the rear axle of one of its Crossland tanker trailers. Fitted as original equipment in early 2006, the tyres have already clocked up 175,000 km and still have 3-4mm of tread remaining. Over 90 per cent of the company’s fleet is fitted with Michelin tyres as original equipment.

27th September 2007/by Tyrepress Editors

“We Shall Not Be Moved” – Kwik-Fit

Kwik-Fit is single-handedly holding up the start of Basildon’s £900million town centre regeneration by refusing to move from its centre in Cherrydown East, Basildon. The firm’s refusal to move has hit plans by the Essex Ford Group to sell the site it shares with Kwik Fit, allowing it to be developed into 445 luxury flats, for which developer Western Homes already has planning permission. Essex Ford owns the site and had hoped to relocate its garage and car sales business to Dunton in December.

25th September 2007/by Tyrepress Editors

Rent’N Go Launches Rent-to-Own Wheels and Tyres Franchise

After years of perfecting the Rent’N Go wheels and tyres hire purchase retail concept, RNG President Bob Catino announced the official launching of the company’s franchising programme in the US. “While I always felt our expansion would be through franchising, it has happened a bit faster than I thought it would. The system is ready and the results from operations indicate the time is right to launch our franchising initiative,” says Catino.

Rent’N Go started coming together for Catino after he met Jim Taylor, a veteran of the wheel and tyres business. They became fast friends working on developing the first Rent’N Go store in Tamarac, Florida. Taylor is the company’s vice president of operations.

20th September 2007/by Tyrepress Editors

Petron-Michelin Partnership Offers Free Fuel with Tyres

Petron, the Phillipine’s leading oil firm, has partnered with Michelin to offer consumers free fuel when tyres are purchases. From 1 August to 31 October 2007, Michelin tyre buyers will receive up to P1,000 (£10.44) worth of free Petron fuel gift certificates when they purchase Michelin tyres at participating dealers nationwide. A consumer buying a set of four tyres size 15-inches and above will be issued with P1,000 worth of Petron vouchers; while four 13 to 14 inches tyres gets P500 worth of vouchers; two tyres 15-inches and over also gets P500 worth of free fuel.

According to Riz Dalangin, Michelin country manager for the Philippines: “As a premium brand, Michelin chose to partner with Petron in this promotional activity as we would like to be able to offer greater value to Filipino consumers. Petron’s market leadership signifies that it is the preferred fuel of the majority of motorists nationwide, and we know our buyers will appreciate the complimentary fuel certificates from Petron.”

12th September 2007/by Tyrepress Editors

Fast Wear Costs Apollo Tyres in Fine

(Akron/Tire Review) Asia Pulse has reported that Apollo Tyres has been ordered to pay 10,000 rupees by the Delhi Consumer Commission for alleged tyre defects. According to the report, the commission found that certain Apollo-made tyres were wearing out within six months of purchase. According to the consumer complaint that instigated the investigation, a tyre purchased by a consumer wore out within six months. The man was subsequently rebuffed repeatedly by Apollo when he attempted to get it replaced. Apollo appealed, claiming the man used the tyre on a commercial vehicle, subjecting it to excessive use. The commission awarded the man 4,400 rupees as the cost of the damaged tyre, and another 3,000 rupees in compensation and as cost of litigation.

12th September 2007/by Tyrepress Editors

Conti Acquires Chinese Auto Components Firm

Continental AG’s Automotive Systems Division plans to further consolidate its position in China through the acquisition of Zhangjiagang Fugang Heli Electronics Co., Ltd. from China’s Fugang Group. Conti intends to integrate the operations of Fugang Heli, who manufactures cooling fan modules and window lift motors, into the division’s Electric Drives business unit upon regulatory approval of the purchase.

The Chinese company was founded in 2005 and employs approximately 250 staff at its headquarters in Zhangjiagang City, Jiangsu Province and two production facilities in Zhangjiagang and Changchun, Jilin Province. Last year Fugang Heli achieved sales of RMB 84 million (£5.526 million) and sold it products to both domestic and international vehicle manufacturers.

“With the acquisition of Fugang Heli, Continental Automotive Systems will enhance the local production capability in order to better meet the demand of OEMs in China as well as develop a new base for export into other regions in Asia based on a cost competitive manufacturing,” said Dr. Karl-Thomas Neumann, president Continental Automotive Systems and member of Continental AG’s Executive Board. “The deal will greatly help Continental Automotive Systems to strengthen its worldwide leading position in cooling fan modules at existing and emerging marketplaces, where our OEM customers are doing their business.”

4th September 2007/by Tyrepress Editors

Pirelli’s Telecom Italia Sale Delayed

The sale of Pirelli’s loss-making share in Telecom Italia has been delayed by Brazil’s telecommunications regulator Anatel. The regulator’s review of the deal was postponed on August 30 in order for it to have more time to consider the acquisition in greater depth.

Anatel must approve the deal because Spain’s Telefonica, one of the investors in Telco, the holding company that has agreed to acquire control of Telecom Italia, also operates mobile phone services competing against Telecom Italia in Brazil. Representatives at Telefonica state they do not see any potential problems arising with Anatel.

The Spanish phone company is one of several investors that agreed to purchase Olimpia in April for more than four billion euros plus debt. However the investors must wait until Anatel grants approval before closing the deal.

3rd September 2007/by Tyrepress Editors

Conti Preparing to Work with Integrated VDO

In the month following being granted consent to acquire the VDO Automotive division from Siemens, Continental AG has busied itself becoming acquainted with the new workforce and sharing its vision of VDO’s future within the company. According to Conti executive board chairman Manfred Wennemer, his company is interested in ensuring the larger Continental that emerges from the purchase of VDO can fully appreciate what the component manufacturer has to offer, and integrate this into Conti’s existing structure.

Wennemer has travelled to VDO’s production sites, including its headquarters in the Bavarian city of Regensburg, and has used these visits as an opportunity to reassure VDO workers that the company they work for will maintain its own identity. When the integration of VDO is complete Continental’s automotive parts division will be reorganised into three units; security-related parts, powertrain components, and information and entertainment systems. Wennemer indicates that at least one of these divisions will have their headquarters in Regensburg, and no distinction will be made between VDO and Continental employees when making personnel decisions.

“The Continental system will not necessarily win,” Wennemer said. “What will win is the best system and the best man for the job.”

31st August 2007/by Tyrepress Editors

Revenue and Net Income up at Delticom

Delticom AG, Europe’s leading Internet tyre retailer, has published its consolidated interim report for the first six months of 2007. The company recorded revenue growth of around 35.2 per cent in the first six months compared to the first six months of 2006, with the total rising to 102.0 million euros (H1 2006: 75.4 million euros). EBIT increased from 3.7 million euros in H1 2006 to 5.4 million euros. At the same time, net income for the period increased to 3.7 million euros (compared to H1 2006: 2.2 million euros).

Revenues in the key eCommerce segment were up 41.7 per cent in H1 2007 to 94.1 million euros from 66.4 million euros in H1 2006. The number of registered customers in the eCommerce segment – the customers who have purchased at least once from Delticom in the past (including the current fiscal year) increased from 974,000 at the end of the second quarter of 2006 to 1,555,000 one year later. Delticom acquired 306,000 new eCommerce customers in H1 2007, with 112,000 registered customers making a repeat purchase from Delticom in the period under review.

22nd August 2007/by Tyrepress Editors

Stapleton’s Redevelops its Online Presence

Stapleton’s has launched a new website in line with its new brand identity. The new look website is a modern, straight-forward way for customers to find out more about the company and includes a link to ProfitLink where they can purchase tyres online. www.stapletons-tyres.co.uk also offers additional features including a list of products, delivery and regional sales support information and a breakdown of contact details for each area of the business.

Stephen Childs, the marketing manager of Stapleton’s, said: “The site is exactly what we want to offer our customers. It is extremely efficient and easy to navigate, with clear drop-down menus and a separate section for each area of the business.

“The web site is now consistent with our online purchasing service, ProfitLink, which was also recently improved and includes up to the minute price and stock information as well as acting as a useful retail tool for customers, automatically calculating selling prices to set parameters.”

8th August 2007/by Tyrepress Editors

Court Approves Delphi Investment Plan

Financially troubled automotive parts manufacturer Delphi Corporation marked another milestone on its journey back from bankruptcy on August 2. The US Bankruptcy Court for the Southern District of New York gave its consent for the New Jersey based hedge fund Appaloosa Management LP and a number of other investors to inject as much as two and a half billion US dollars into the company. In return Appaloosa and the others will receive preferred and common stock in the reorganised Delphi.

The company is working towards coming out from under the umbrella of Chapter 11 bankruptcy protection – the section of the United States Bankruptcy Code allowing for the reorganisation of a company under bankruptcy court supervision – by the end of 2007, and the August 2 decision will greatly assist to this end. “This was a huge milestone,” said Delphi chairman Robert S. (Steve) Miller, “A lot of the heavy lifting is done.”

3rd August 2007/by Tyrepress Editors

Marangoni US Facility now Company Owned

Marangoni Tread North America has finalised purchase of its current manufacturing facility premises in Madison, Tennessee. This transaction concludes a process of expansion and development at the facility as part of the company’s declared aim of further strengthening its presence in the North American market.

The purchase of the 80,000 m2 (including a covered surface area of 14,000 m2) premises required an investment in the region of US$5,000,000. As a result of the purchase, the warehouse, which was previously contracted out, can now be managed directly. Marangoni hopes efficiency in the clearance of customer orders can thus be improved.

Recent expansions to the facility that saw its surface area triple will lead to an increase in production output and double production capacity over the next two years. “Now, approximately 75 per cent of the North American demand can be met locally”, said Bill Sweatman, chairman of Marangoni Tread North America. “This expansion will help us to further improve our response to customer service requirements.”

3rd August 2007/by Tyrepress Editors

Carlyle Group Closes Purchase of Goodyear Division

On 1 August global private equity firm The Carlyle Group announced it has closed its purchase of Goodyear’s Engineered Products Division. The transaction, valued at US$1.475 billion, was announced on March 23, 2007. Through a long-term license agreement, products will continue to carry the “Goodyear” brand, while the legal name of the company has been changed to “Veyance Technologies, Inc.”

Veyance Chief Executive Officer Timothy R. Toppen said, “We are excited about this new chapter in our history and we look forward to a strong and fruitful partnership with The Carlyle Group.”

Toppen said customers will continue to see the Goodyear Engineered Products brand they have known since 1898. “In addition, we have adopted a new corporate name – Veyance Technologies, Inc. It combines two critical components of our daily operations. Our products convey materials, fluids or power from one location to another and are designed to optimise performance for customers and end users.

2nd August 2007/by Tyrepress Editors

Analysts See Oliver Acquisition as Positive Move for Michelin

Financial analysts are predicting Michelin will continue to grow its retread business following the purchase of Cooper Tire & Rubber subsidiary, Oliver Rubber Company. “This would mean that Michelin is growing in the tyre retread business,” Deutsche Bank analysts wrote, adding: “The group has currently approximately 700 million euros of revenues in retread. This is potentially a very interesting market which should grow (penetration rate of only 37 per cent in Europe versus 85 per cent in North America, and should be highly profitable [with] significantly less capital expenditure and raw material costs. We believe that this strategic move will give vertically integrated tyre Co a significant competitive advantage.

1st August 2007/by Tyrepress Editors