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Schaeffler to reorganise UK business

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The global automotive and industrial supplier Schaeffler, which employs over 92,000 people worldwide, proposes to reorganise its UK business activities as part of its excellence programme “Agenda 4 plus One”. This programme includes a global footprint initiative that is examining the strategic and economic competitiveness and long-term sustainability of all Schaeffler locations worldwide. As part of this initiative the Executive Board has decided to reorganise its activities in the UK.

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Supervisory Board approves Continental realignment

Major organisational changes proposed by Continental AG have gained the blessing of the company’s Supervisory Board. At a meeting today, board members approved the creation of a new Continental AG holding structure, ‘Continental Group’, and also gave the green light to making an independent legal entity out of the company’s Powertrain division ahead of its partial initial public offering (IPO) in mid-2019.

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  1. Continental announces major organisational realignment
  2. Continental to expand restructuring programme to save 1 billion euros by 2023
  3. Continental CEO Degenhart resigns
  4. Job cuts, changes: Continental responds to evolving automotive market
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Continental announces major organisational realignment

Tyre maker and automotive technology firm Continental says it will be “one of the largest organisational realignments” in its history: The Executive Board of Continental AG has announced plans to create a holding structure under a new umbrella brand, Continental Group, and support this holding structure with three new business sectors – Continental Rubber, Continental Automotive and Powertrain. These sectors will succeed the current Automotive Group and Rubber Group.

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Related news:

  1. Supervisory Board approves Continental realignment
  2. Continental to expand restructuring programme to save 1 billion euros by 2023
  3. Continental net income up almost a quarter in “extremely successful” 2014
  4. Continental discussing ‘need for action’ with employee representatives
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Rosava ‘restructuring’ as plant readies for larger tyre sizes

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Despite a company restructuring that includes the closing down of the private joint-stock company (PJSC) Rosava, the Rosava factory in Bila Tserkva, Ukraine is currently gearing up to begin production of 19-inch tyres following the installation of new plant equipment.

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  1. Rosava purchases Saehwa equipment for 17-inch tyre production
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  4. Accreditation for Rosava tyre testing laboratory
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Solvay cutting 600 jobs

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Solvay will cut 600 jobs as part of a broad restructuring program aimed at simplifying the organization. On 29 March the firm announced that job cuts related to the restructuring include 160 redundancies in France, 90 in Portugal and 80 in Brazil.

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  1. Solvay’s Sylvaine Neveu wins 2016 Irène Joliot-Curie Prize
  2. Solvay reports second quarter sales of 3 billion euros
  3. Solvay appoints two business unit presidents
  4. Conti Invests to Expand Production Processes in Romania
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Michelin creates Europe North region, names Anish Taneja CEO

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As of 1 January 2018, Michelin is restructuring its global organisation into ten newly-created regions. The UK finds itself in what has been named the Michelin Europe North region, along with Austria, Denmark, Finland, Germany, Iceland, Ireland, Norway, Sweden and Switzerland. Covering the former sales regions for Germany/Austria/Switzerland, the UK and the Nordics, the new regional operation is led by Anish K Taneja, who from the start of the year holds the post of chief executive officer, Michelin Europe North.

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  1. Von Aspern to lead Michelin’s new European wholesale business
  2. Michelin cuts jobs in France and the US
  3. Michelin closing Dundee tyre factory
  4. Guy Heywood named Hankook Tire Europe truck tyre marketing director
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‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre

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In response to a contracting market in 2013 and 2014, Italian wholesale giant Fintyre underwent a reorganisation, involving relocation north from Empoli to Seriate, Bergamo and a staff reduction of 60 employees. The overhaul of the company structure did not end there; it started a process in 2015, completed in late 2016, which has changed the face of Fintyre. This, it states, has consolidated its position as the leader of the Italian market with a share of around 25 per cent. In 2015, British investment firm BlueGem Capital Partners, which at that point held a 90 per cent share in Fintyre after its original 2009 investment, was recapitalised following a major financing agreement with GSO Capital Partners. The company then made two major acquisitions – Pneusmarket and Franco Gomme – which have helped to increase turnover from 255 million in 2014 to an estimate of more than 400 million euros in 2016.

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Related news:

  1. Fintyre now sole Italy distributor for Triangle tyres
  2. Tyre wholesale: acquisition gives Italy’s Fintyre national coverage
  3. Fintyre acquisition shows fast-growing firm is ‘doing OK’
  4. Fintyre to open London head office
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Motor Wheel Service Distribution restructures senior management

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Motor Wheel Service Distribution (MWSD) has restructured its senior management in preparation for future growth. The changes follow the launch of MWSD’s German division and the impending implementation of the EU Roadworthiness Act. Company founder and owner John Ellis becomes chief executive and Matthew Mardle, who joined the business earlier this year as operations director, takes the title of chief operating officer. Kevin Ryan maintains the specialist product development and client advisor role as chief technical officer, and Clive Maudsley is now chief financial officer. Michael Payton maintains his position as marketing director.

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  3. MWSD appoints operations, finance directors
  4. Michelin Training Centre, MWheels collaborating to improve CV wheel safety education
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Kings Road Tyres Burton-on-Trent ‘Superhub’ a major step in restructure

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Kings Road Tyres’ restructuring process has taken “a major step towards completion” with the opening of its new central Superhub in Burton-on-Trent. The company is now operating out of a 92,000sqft office and warehouse complex on a five acre (two hectare) site known as Centrum One Hundred. KRT adds that its new neighbours – businesses including DHL, Boots, Unilever, Waterstones and Holland & Barrett – show the high calibre of the location, just off the A38, and with easy access to the M1 and M6 motorway networks.

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Related news:

  1. Kings Road Tyres appoints Simon Tidmarsh commercial director
  2. Strategic investment group buys controlling interest in Kings Road Tyres Group
  3. Goodyear aggressively pursuing leading position in UK truck tyre market
  4. Apollo Tyres to restructure African operation
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Starco restructures its business with European OEMs

A new organisational structure is being rolled out for Starco’s original equipment business in Western and Northern Europe. The company’s national sales entities will adopt a cross-border, segment-driven approach that will focus more strongly upon current customers and new, larger customers. Starco explains that this new structure’s adoption is being driven by market demands for specialised knowledge, strong supplier partnerships and cross-border mobility.

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  1. STARCO expanding in Poland to meet OEM demand
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  4. STARCO moves to new HQ – Bohnenkamp settles into former site
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New year, new business structure – SRI making changes in North America

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Falken Tire Corporation has announced a realignment of its business units that accommodates changes brought about by the dissolution of the global alliance between parent company Sumitomo Rubber Industries and Goodyear Tire & Rubber. The realignment will take place in stages and begins on 1 January with the subsidiary’s renaming as Sumitomo Rubber North America, Inc.; Richard Smallwood, who is currently CEO and president of Falken Tire Corporation, will hold these positions in the retitled business.

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  1. SRI to stop Dunlop production at US plant, focusing on Falken brand
  2. SRI’s Buffalo factory to supply Japanese car makers with OE Dunlop tyres, phasing out Goodyear make to order
  3. Falken veteran sales VP retires, executive roles shuffled
  4. Goodyear to Hike US Tyre Prices
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Dayco restructures UK distribution operation

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Dayco has opened its own centrally-based distribution centre in Redditch, West Midlands. Having previously worked through a national distributor, the power transmission parts supplier says the new opening is the final part of a restructuring process that it says will bring significant benefits to motor factors and their workshop customers.

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  1. Dayco ties the knot with Marathon
  2. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
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  4. Michelin unveils European Distribution Centre in Stoke-on-Trent
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First blood to import tariffs?

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No sooner had Shandong Deruibao Tire Co., Ltd. entered into apparent “restructuring” proceedings on 7 February then we at Tyres  & Accessories started hearing about it on the grapevine (see page 40 for full coverage of this story). Of course, companies face difficulties in any business from time to time, but this case has particular resonance with many because it is emblematic of what is going in China. There are two things the market is interested in – what’s behind the pressures Deruibao are facing and what the knock-on effects will be.

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South African commission evaluating Apollo restructuring plan

As reported on 17 September, Apollo Tyres’ South African subsidiary, Apollo Tyres Africa Proprietary Limited – the residual operation remaining after the sale of the main business to Sumitomo Rubber Industries in 2013 – voluntarily initiated Business Rescue Proceedings on 15 September 2014 as per the provisions of the South Africa Companies Act. In its second quarter notes, The company has now submitted a Business Rescue Plan to the South African Companies and Intellectual Property Commission (CIPC).

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Apollo Tyres to restructure African operation

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Apollo Tyres Ltd has initiated voluntary business rescue proceedings for its Apollo Tyres Africa Proprietary Limited subsidiary. The company has informed the BSE that a specialist has been appointed to restructure its South African operation; the specialist’s evaluation will “decide the future course of action for the company in South Africa.”

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

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Related news:

  1. Cooper appoints ex-Apollo exec Ceneviz
  2. Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer
  3. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  4. Show review: Reifen China 2014
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