With the chronic shortage in heavy haulage tyres causing inflated prices and end users purchasing inferior quality products, the giant mining and resources company Rio Tinto has decided to take matters into their own hands. The company has announced that they have set up their own tyre retreading facility in Western Australia, not far from their sizable mining operations in the state’s Pilbara region.
A tyre retailing chain in the America is currently running a novel promotion to encourage the purchase of tyres from its outlets. In true Western tradition Les Schwab Tire Centers, headquartered in Oregon, are offering customers free beef products with their new tyres.
The new extension to the MAHA factory in Germany commenced operation following the Christmas break. The factory extension, built to accommodate the manufacture of 2 post electro hydraulic lifts, is considered by MAHA UK’s managing director, Gus Gregory, to possibly the most advanced lift production facility for the manufacture of 2 post lifts in the world.
Parker Hannifin Process Air and Gas believe that filling a HGV’s tyres using the company’s latest nitrogen generation technology can enable commercial fleet operators to improve the safety of their vehicles while reducing operating costs by a considerable margin.
(Akron/Tire Review – AFX) German auto parts supplier Continental AG said it expects to reach a decision soon on whether or not to pursue a purchase of Goodyear’s Engineered Products division.
Gerhard Lerch, Continental board member, made the announcement, and said that negotiations have progressed and that a decision is expected this quarter.
Goodyear said it was considering selling the division two years ago.
Bridgestone Corporation expects its profits to increase by almost six per cent this year due to improving sales in the U.S. and Europe. In a media statement, Bridgestone said that it projects net income to increase to 90 billion yen (£384 million) as sales rise 3 per cent, to 3.08 trillion yen (£13.2 billion). Net income in 2006 fell 53% to 85.1 billion yen (£364 million) on sales of 2.99 trillion yen (£12.8 billion), compared to a net income of 180.7 billion yen (£772 million) a year earlier.
The Bosch Group has unveiled plans to further consolidate its foothold in the workshop equipment market through the acquisition of Munich-based Beissbarth GmbH, and Italy’s Sicam s.r.l., companies that both belong to parent company Beissbarth Automotive Group GmbH. An agreement between Bosch and Beissbarth Automotive was signed on February 14.
The Australian Performance Car Championship (GTP) is expected to be a more closely contested competition following the announcement that all cars in the series will be required to race on identical Pirelli “control” tyres. Series Organiser Craig Nayda announced that Pirelli motorsport distributor Trofeo Motorsport has won a tender to provide tyres and event technical support to GTP for the next three seasons.
(Akron/Tire Review) In what has to be an industry first, one tyremaker will take the stage at another tyre company’s national dealer meeting to introduce a series of new products. Titan Tire will be on hand at Goodyear’s dealer meeting in Orlando next week, to launch three Goodyear-branded farm and skid-steer tyres.
UK based company Watts Tyres Plc has announced the purchase of Diprima Industrial Tire after reaching an agreement with Diprima Marketing Services Inc. This latest acquisition, combined with Watts’ existing US facility in Valley City, Ohio, gives the firm a strategic position in both the northern and southern US states, putting it in a better position to achieve its ambitious growth plans.
The CEO of Hankook Tire, Choong Hwan Cho, has announced the company’s global sales target for 2007 is $US3.6 billion, a significant increase on last year’s realised US$2,5 billion. Hankook are also targeting an operating profit of US$340 million and a recurring profit of US$282 million.
Bridgestone Americas Holding Inc.’s US$1 billion acquisition of Bandag Inc. has received early approval from the US Federal Trade Commission (FTC). The FTC ended a required 30-day waiting period for the acquisition ahead of schedule, on January 29, announced Bandag in a prepared statement. The 30-day period was not scheduled to end until February 8.
A number of Bandag Inc. shareholders have reportedly filed a lawsuit against the retreading supplier for allegedly failing to seek offers of purchase from potential buyers other than Japanese tyre giant Bridgestone. The lawsuit was filed in the District Court in Bandag’s hometown of Muscatine County, Iowa on December 8 by the Plumbers and Pipefitters Local 572. They are seeking class action status on behalf of all shareholders.
Nemesis UK, the official UK distributor of Magnaflow Performance Exhaust products, is offering garages and performance centres the chance to become approved Magnaflow installers. In order to meet increased demand for the brand, Nemesis UK has devised a business package that will enable garages and performance centres to equip themselves as approved Magnaflow installers and be able to build bespoke exhaust systems.
Germany’s Federal Cartel Office and corporate competitiveness watchdog, the BundesKartellamt, has given the all clear for Continental’s purchase of UK based company Thermopol International Limited. The German automotive supplier intends to integrate Thermopol into the Fluid Technology business unit of its daughter company, ContiTech.
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