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Tym International offering comprehensive Triangle, Techking ranges

Norfolk based Tym International is one of a select number of UK importers that specialise in the sale and distribution of earthmover tyres. The company stocks a comprehensive range of products from Triangle and Techking, and Tym International is the sole UK importer of both brands. Products purchased from Tym are dispatched on the same day as the order is placed with a guaranteed 24 hour delivery to the site if required, subject to availability.

29th May 2013/12,345 Comments/by Tyrepress Editors

Snap-on buys Challenger Lifts

Equipment manufacturer and supplier Snap-on Incorporated has acquired Challenger Lifts for approximately US$38 million in cash. Reporting the purchase, Snap-on chairman and chief executive officer Nick Pinchuk stated “Challenger is an important addition to our Repair Systems & Information Group. The Challenger vehicle lift product line complements and increases Snap-on’s existing undercar equipment offering, broadening our established capabilities in serving vehicle repair facilities. We believe this acquisition will further Snap-on’s progress along its strategic and coherent growth runway of expanding with repair shop owners and managers. We look forward to welcoming Challenger associates to the Snap-on family.”

23rd May 2013/12,345 Comments/by Tyrepress Editors

Rollier appointed chairman of Michelin’s Supervisory Board

At last Friday’s Michelin Annual Shareholders Meeting in Clermont-Ferrand, France, a dividend of €2.40 per share, with a reinvestment option, was approved. The dividend will be paid in cash or reinvested in shares on 24 June 2013.

22nd May 2013/12,345 Comments/by Tyrepress Editors

Sticky questions: Labelling, retailing and the necessary systems

With levels of label-readiness varying significantly across the country and across Europe, the introduction of EU tyre labels that began a year ago remains in infancy. However, while some have gone on the record as saying it is a waste of space, labelling could also be seen as a developing field that – also like a small child – grows fastest in its early years. And with this debate in mind, Tyres & Accessories recently received an interesting addition to the debate, focusing on the nuts and bolts of retail labelling.

21st May 2013/12,345 Comments/by Tyrepress Editors

Michelin aircraft tyre app cleared for takeoff

Michelin Aircraft Tire has introduced a mobile application for aircraft mechanics, private pilots, airlines, military operators and others who have an interest in or use for aircraft tyres. The app will draw upon Michelin’s expertise in this field and aims to serve and educate customers on how to better maintain their Michelin tyres, to maximise tyre performance and minimise costs.

16th May 2013/12,345 Comments/by Tyrepress Editors

Hofmann extends Spring/Summer Collection promotion

Although originally scheduled to conclude at the end of May, Hofmann says its Spring/Summer collection will, depending on stock availability, will be available until this autumn. The promotion features a number of special offers for workshops. First up is the Geolite V3D wheel aligner, which Hofmann says delivers fast and accurate real-time alignment measurements and a profitable revenue stream. Workshops can now purchase a Geolite V3D for just £8,099, saving £3,400 on the list price of £11,499. The 3D aligner is also available as a twin pack with a four post, four tonne electro-hydraulic lift, with front turn plates and in-fill paddles worth £645 included, for only £14,499, a saving of almost £6,000 on the list price of £20,494. With the UK’s pothole ridden roads causing misalignment on millions of vehicles, Hofmann says its many garages make over £3,000 per month through its 3D wheel alignment technology.

13th May 2013/12,345 Comments/by Tyrepress Editors

Growth continues in April new car market

SMMT figures show that UK new car registrations rose 14.8 per cent in April to 163,357 units. Registrations in the first four months of 2013 grew 8.9 per cent to 768,555 units. April secured the strongest growth in 14 months as buying cycles and market volatility combined to boost uptake.

10th May 2013/12,345 Comments/by Tyrepress Editors

Tyre safety check data alarming – Bridgestone

The release of 2012 statistics gathered by Bridgestone while taking out more than 28,000 free tyre safety checks in Europe provide grim reading. The world’s largest tyre manufacturer’s figures suggest that tyre care and awareness has continued to deteriorate in the region. The most alarming change from data gathered in the same way in 2011 is an increase of 25 per cent in the number of tyres either underinflated or beyond the legal limit. While the European Union has in place many strategies for making roads safer – it is a specified goal of the EU tyre label – and organisations such as TyreSafe in the UK grow both membership and influence, Bridgestone’s data suggests that the most basic tyre checks remain beyond too many of the continent’s drivers.

29th April 2013/12,345 Comments/by Tyrepress Editors

Fuel price still major motoring cost concern

Despite several leading supermarkets dropping fuel prices at the pumps, new research from leading vehicle remarketing company BCA, highlights that fuel costs remain a major concern for motorists. When BCA polled over 720 used car buyers in March it found that three quarters claimed the price of fuel is their biggest worry when it comes to motoring costs and over a third are frustrated by the lack of action by the Government to tackle fuel prices. Three quarters of motorists use their car every day and one in five drivers are particularly concerned about the rising costs of motoring because they rely on their car for their work.

29th April 2013/12,345 Comments/by Tyrepress Editors

Kwik-Fit overhauls fleet card offer

Kwik-Fit Fleet has launched a new card aimed at SME sector light commercial and car fleets. Called Kwik-Fit Drive, the card replaces the Kwik-Fit Business Drive Card and can be used to purchase fuel and obtain vehicle breakdown and recovery, while it also provides fleets access to a range of Kwik-Fit services at competitive prices. Kwik-Fit Drive will be officially launched in June.

22nd April 2013/12,345 Comments/by Tyrepress Editors

Michelin offers farmers ‘tyres on tick’

Financing is now available for UK purchasers of Michelin agricultural tyres through the company’s new ‘Flexelagri’ credit scheme. The tyre maker says qualifying UK farmers and contractors looking to purchase Michelin agricultural drive or trailer tyres, or the rims required for its Ultraflex technology, will be able to spread the cost over two years at a 0 per cent finance rate. No deposit is required, however a £100 administration fee applies.

19th April 2013/12,345 Comments/by Tyrepress Editors

Pearl River diversifying into non-tyre businesses

Pearl River Tyre (Holdings) Limited reports that the disposal PRT Capital Pte Ltd took place on 16 April 2013. Upon completion of the HK$85 million (£7.2 million) deal, PRT Capital will cease to be a subsidiary of Pearl River Tyre and the financial results will no longer be consolidated with that of the group.

18th April 2013/12,345 Comments/by Tyrepress Editors

ETRMA on 1Q tyre demand – all sectors down

Following a slow year in 2012, the European Tyre and Rubber Manufacturers’ Association (ETRMA) has published first quarter 2013 figures showing that the decline has continued.

According to the association, which represents the European operations of some of the largest tyre manufacturers in the world, the market for consumer tyres fell 12 per cent (to 46.6 million units) in the first quarter. This is said to have been because of, amongst other factors, bad weather conditions, delay of the change from winter to summer tyres, and not least the current economic environment.

12th April 2013/12,345 Comments/by Tyrepress Editors

KKR confirms Alliance Tire Group purchase

Kohlberg Kravis Robert (commonly known as KKR) has confirmed reports that it is acquiring a controlling stake in Alliance Tire Group (ATG) from an affiliate of Warburg Pincus. KKR also confirmed that Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the company and partner with KKR to continue to grow the business. Terms of the transaction were not disclosed and so details of current shareholdings and therefore the balance of power are not yet clear. As usual, the transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.

12th April 2013/12,345 Comments/by Tyrepress Editors

Report: KKR buying 90% of Alliance Tire Group

India’s Economic Times reports that private equity firm Kohlberg Kravis Roberts (KKR) has agreed to buy a 90 per cent stake in Alliance Tire Group. The deal for a reported US$650 million includes an estimated $125 million in debt.

9th April 2013/12,345 Comments/by Tyrepress Editors