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.
According to figures published by the Rubber Manufacturers Association, or RMA, US tyre shipments in 2012 amounted to 284 million units. This is unchanged from the previous year – the RMA says a ten per cent increase in original equipment shipments offset a nearly two per cent decrease in replacement shipments, and it states this absence of overall growth can primarily be attributed to a “cautious consumer as well as economic uncertainties in both the commercial and consumer sectors of the replacement market.”
Changes to the management structure of Pirelli Deutschland’s sales and marketing team took effect on 1 April. Amongst these tweaks is an extension of Sascha Kemper’s area of responsibility. In addition to his current position as Germany-wide sales manager for the original equipment truck business and Northern Germany sales manager for the replacement market truck business, Kemper has taken over as head of the replacement truck business in Southern Germany from Sascha Ihrig.
Lurid local newspaper headlines have rekindled media interest in the industrial incident that resulted in the death of a man at Pirelli’s Carlisle tyre factory. However, with the Police having already confirmed that they are no longer pursuing a criminal investigation, the Health and Safety Executive (HSE) investigation ongoing and with no date for the inquest, there is little more to report and no further comment from the parties involved.
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform – Bull – or underperform – Bear – the markets over the next three to six months. In a move that may give ‘The Grizz’ reason to growl, on 22 March Zacks Equity Research named Titan International its ‘Bear of the Day.’
It probably won’t surprise the average motorist at all to hear the findings of a report commissioned by Kwik Fit – the number of vehicles hitting potholes has increased 143 per cent in the last two years. The studies carried out by ICM Research in January 2011 and then in March 2013 indicate that nearly 39 per cent of motorists, some 13 million people, collided with a pothole in the past 12 months, compared with 5.7 million in 2011.
The latest new motorcycle and scooter figures show February sales overall were down 4.6 per cent compared with the same month last year. Under 50cc scooter sales were down 6.1 per cent in September, while all over 50cc motorcycle sales have decreased by 4.2 per cent.
Fears that UK motorists will steer clear of this month's '13' registration plate for new cars are unfounded, say CAP – the car information experts. Nor does the company believe superstitious motorists will cause increased depreciation via reduced demand for 13 plate cars by avoiding them in the future used car market.
The latest round of speculation associated with the sale of shares in Alliance Tire Group puts Kohlberg Kravis Roberts (KKR), Blackstone, TPG Capital and Advent International at the front of the pack. According to a Times of India report published on 20 February the firms are “set to fire bids valued at more than US$300 million to acquire majority shares in Alliance Tire Group.” Standard Chartered Private Equity is also said to be bidding.
Cooper Tire and Industrias Negromex S.A. de C.V. (INSA), a subsidiary of Grupo KUO, report that the US patent office has granted a patent to the two organizations for their silica masterbatch process. According to the two companies, the process to produce silane, hydrophobated silica, silica masterbatch and rubber products results in a broader processing window offering “manufacturing efficiencies” for the end user.
Milltek has released a new exhaust for the B8 RS4. Milltek’s engineers report that they were keen to maintain the all-round character and usability of the RS4, whilst injecting a little more drama – and power – into proceedings. Two systems will be made available upon launch; a primary cat back, with full EC homologation and approval for those looking to keep things ‘OEM+’ and a wonderfully toned non-resonated system that offers a perfectly pitched rasp and growl, but without the in-cabin resonance and droning of lesser systems.
Kiene has developed a new adapter for its K-1350 Wheel Grabber. According to the company, the new “Extender” allows a technician to safely remove seized wheels from vehicles on a floor lift.
Dunlop’s motorcycle tyre management team in the US has been expanded by the appointment of Cary Budzinski as its new general manager of sales. Budzinski begins his new role with more than 26 years at Goodyear’s retail store and consumer business units behind him; most recently he served as general manager of dealer development for Goodyear’s Consumer business unit. In his new position, Budzinski will report to Mike Buckley, Senior vice-president sales/marketing & R&D. Reporting to Cary will be Scott Dewey, Phil Waters, Fred Hassen and the rest of Dunlop’s sales force.
Quinton Hazell Automotive Limited's administrators and its parent company Klarius Group have announced 117 redundancies at the QH Glasson Dock site in Lancaster and 79 redundancies at the QH Colwyn Bay site in North Wales. Both sites have ceased to operate. The news follows the announcement of the sale of the firm's Cheadle operation earlier today (which secured jobs there) and the closure of the QH distribution business in Hinckley, Leicestershire.
Treadsetters (part of the TIA Group) was listed in The Sunday Times 2012 Fast Track 100 Companies, which is jointly sponsored by The Sunday Times and Sir Richard Branson. Treadsetters is placed in 76th position having achieved a 60.51 per cent sales growth since the beginning of the recession in 2008 and are the only tyre company to be named in the report.
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