Matador has completed a majority share purchase agreement with joint-stock company Pal-Inalfa from Vrable, Slovakia. The acquisition will now provide the group with access to the suppliers and producers segment of the car industry.
Wholesale warehouse distributor, WDS, has added XL and Kilen to its portfolio of aftermarket brands. The trading division of FPS was launched just over a year ago to support FPS’ same-day distress purchase delivery service by offering an overnight stock order service to independent motor factors.
Goodyear has received an award at the American Point-of-Purchase Show for the “creative merchandising and selling tools” that it used to support its line of Assurance tyres.
The show focuses on the best in-store marketing ideas used and three of Goodyear’s Assurance items were honoured with awards.
Online tyre retailer, Black Circles, has won an e-commerce award at the Scottish 2004 National Business Awards.
The company views the award as an endorsement of its strategy to trade predominantly online. The E-Strategy Business of the Year Award joins the company’s Shell LiveWIRE Young Entrepreneur of the Year award received by Black Circles’ 25 year old managing director Mike Welch.
Mr Welch commented: “Our overall business strategy, including the e-commerce strategy, is highly innovative and includes a highly appealing consumer offering. We sell top brand name tyres cheaply and we fit them at a location of your choice at a time of your choice. That has already been shown to be appealing to tens of thousands of consumers across the UK already and this award is further endorsement that we are continuing to go in the right direction.”
The company’s web service allows consumers to source, purchase and arrange tyre fitting all online.
Tyre & Accessories has learnt that Guangzhou South China Tire & Rubber Company (SCTR) is planning to build a new factory in July 2004. The move comes as part of the company’s plans to increase production of its popular Wanli tyres. At the moment the company produces around 4.85 million tyres of which two-thirds are radial tyres. The expansion will see production levels increase by
MAM Software has developed new e-business links with Bridgestone UK. The manufacturer’s account holders will now be able to order stock directly over the Internet, without the need for faxes, telephones or third-party software.
The recent acquisition of the AA by private equity groups CVC Capital Partners and Permira has led to management changes at Kwik-Fit. The initial impact was felt as soon as the purchase was made public when Kwik-Fit chairman, Sir Trevor Chinn, and chief executive, Tim Parker, announced that they would move to the AA on completion of the deal.
Goodyear Dunlop Tires Europe has completed its acquisition of the Dackia tyre retail group, in Sweden.
Only hours after announcing that it would offer a $150 million aggregate principal amount of convertible notes, Goodyear has said that it is doubling the total amount available to $300 million
Goodyear Tire & Rubber Company has completed its previously announced acquisition of the remainder of Sava Tires, a tyre manufacturing company in Kranj, Slovenia.
Bandag announced that Yellow Roadway Corporation elected on April 30, 2004 not to renew the existing Bandag outsourcing agreement for Roadway Express tire and wheel services in place since 1999. Under the existing agreement Yellow Roadway is obligated, by August 1, 2004, to repurchase all tires and wheels owned by Bandag and used on the Roadway Express fleet. Bandag estimates the value of the tires and wheels to be approximately $37.0 million. The definitive purchase price is subject to an inventory and valuation pursuant to the terms of the existing agreement.
Titan International is to purchase 4.9 million shares of Titan International common stock from Citicorp Venture Capital (CVC). This represents around 23 per cent of the total shares outstanding and the purchase price is US$ 15 million.
Goodyear Dunlop Tires Europe has strengthened its position in Scandinavia with an agreement to buy the outstanding shares of one of Sweden’s major retail tyre groups, Däckia. The company expects to complete the purchase of the chain by the end of June. Goodyear Dunlop currently owns 50 per cent of the shares with the remaining being primarily owned by Procuritas (26%) and Däckia management (24%). Financial terms of the deal were not disclosed. Däckia has more than 60 company owned stores, as well as 31 contract partners in cities throughout Sweden, with annual sales revenue of approximately $65 million. Däckia is widely regarded as one of the most successful tyre retailers in the Nordic Region.
Kleber has launched a new roadside assistance service for buyers of any car tyre from its range. Kleber Assistance is available free to drivers who purchase Kleber tyres. It offers three years free cover against tyre-related breakdowns and includes vandalism, punctures or any other type of accidental damage. The service operates 24 hours a day, seven days a week and assistance is provided within one hour, anywhere in Europe. If the tyre cannot be repaired at the roadside and the spare wheel is unusable, the vehicle will be taken free of charge to the nearest garage where the tyre can be replaced at the driver’s expense. In the event of no garage being open the vehicle and occupants will be taken to a place of safety such as a hotel or the driver’s home if nearer. Although new to the UK, Kleber Assistance has been running in parts of Europe for some time.
Pirelli has exercised its option to acquire 0.46 per cent of the capital of Telecom Italia, the telecomunications group. The transaction involves the purchase of over 47 million ordinary shares at a price each of 2.12 Euro.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
