According to an article published in Italian newspaper La Repubblica today, Pirelli intends to divest its ‘Steelcord’ business and has attached a €250 million price tag to it. The publication says Pirelli is now in the final stages of negotiations with Bekaert regarding a potential sale.
October volumes in mature markets have risen by three per cent, according to Michelin. While North American passenger car tyre volumes increased a little more than in Europe to reach an aggregate rise of two per cent, Europe led truck tyre increases at nine per cent versus North America’s six per cent.
On 6 November, Titan International completed the previously announced redemption of the outstanding US$137,681,000 aggregate principal in its ‘7.875% Senior Secured Notes due 2017’. The company redeemed the notes at a price of $1,059.06 for each $1,000 principal amount, or approximately $145.8 million in total, plus approximately $1.1 million of unpaid interest accrued to the redemption date. Titan says it did not incur any early termination penalties in connection with the redemption of the notes beyond the premium reflected in the redemption price, as described above.
The 1.2 million tyre recall Bridgestone announced in Japan also affects some markets in the Americas, albeit on a much smaller scale. On 8 November Bridgestone Americas announced a voluntary recall of approximately 2,600 Tochigi-produced truck and bus tyres that were sold in Guam, Canada, Mexico, Central and South America. The tyre maker says it has received no “field complaints of adjustments” regarding the defect in the Americas, nor has there been any report of property damage, accidents, injuries, or deaths.
Karlheinz Haupt (56) is now head of the Advanced Driver Assistance Systems (ADAS) Business Unit in Continental’s Chassis & Safety Division, effective 1 November 2013. He succeeds Friedrich Angerbauer (49) who has been appointed Head of Purchasing for the Chassis & Safety Division. The business unit is headquartered in Lindau, Germany.
A group of leading trade associations from the UK and Ireland have written to the European Parliament’s Transport Committee asking it not to damage highly efficient trade flows between the two countries by imposing unnecessary and unwelcome height restrictions on goods vehicles. The letter, alerting the Committee to the real threat posed to trade by a report which was presented to it today (5 November), received strong support from key members of the Transport Committee and from the European Commission.
Nexen’s third quarter figures have underperformed market expectations. According to Deutsche Bank research published 1 November, Nexen’s operating profit results were 13 per cent below consensus expectations.
A new report published by Research and Markets suggests that the global “green” or eco-tyre market is expected to grow at a 9.82 per cent compound annual growth rate (CAGR) between 2012 and 2016.
The September report from the Society of Motor Manufacturers and Traders makes good reading for the UK car industry, as output has reached a level not seen since 2007-08. In the rolling 12 months since October 2012, the UK has manufactured more than 1.5 million, achieving a five-year high.
Motorcyclists are an ageing consumer group – according to some figures, more than 60 per cent of riders now over 40 years old, almost double the proportion of ten years ago. While motorcycle performance has improved with significant increases in horsepower and top speeds, many riders run older models, and according to a recent report from German publication Motorrad, the average two-wheeler age in now more than 14 years old, two years older than in 2007.
The 2012 annual report on road casualties in Great Britain was released by the Department for Transport this morning, and these show that the number of drivers killed or seriously injured on the UK's roads as a result of a dangerous, illegal or underinflated tyres, fell by five per cent to 194 casualties.
Sumitomo Rubber Industries has published the English-language version of its "CSR Report 2013", which was originally released in Japanese in June. The report details the group’s corporate social responsibility activities during 2012.
The National Association of Motor Auctions (NAMA) has published its Light Commercial Vehicle (LCV) market report for August. The report shows that during July the average values of used LCV’'s at auction across the board rose by just 1 per cent from £4,188 to £4,224 between July and August. Total sales volumes increased 18 per cent from 6,007 to 7,101 units.
Continental has appointed Matthias Matic as its new Hydraulic Brake Systems Business Unit head, part of the Continental Chassis & Safety Division, headquartered in Frankfurt am Main. Matic moves from his current position as Chassis Components Business Unit head on 1 September, succeeding Peter Laier who has assumed a position on the executive board of a German light manufacturer. “I’m looking forward to the new challenge. Hydraulic brake systems have proven their worth a million times over; they’re a key component of automotive safety. Friction brakes will continue to be an important topic for the foreseeable future”, said Matic.
While the European financial fug continues, brake suppliers are being required to show greater flexibility in their operations. The reactions of brands operating in the sector are shown in this feature to include a drive towards internationalisation – particularly with performance products generating improved revenues in the Americas and Asia Pacific – and a more varied product line-up to suit both OEM and end-user requirements. A new report published by Markets and Markets suggests that the global brake market will “grow to $28,532 million by 2018, as compared to $20,210 million in 2013, with a CAGR of 7.14% from 2013 to 2018. During this period of flux, the report suggests drum brakes will occupy the major share when compared to disc brakes systems, but that demand for discs will increase at a faster rate and slowly surpass the drum brakes market.
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