Evonik Industries reports successfully completing the divestment of its carbon black activities on July 29, 2011. The sale of the business to Rhône Capital and Triton Partners is valued at over 900 million euros, the company added.
Pirelli’s tyre supply to the FIM Superbike World Championship will continue for a further three years. Infront Motor Sports has announced that the tyre maker’s current contract for the championship has been extended from 2013 through to the end of 2015. The agreement, as has been the case since the start of the collaboration between the two companies in 2004, will also include the exclusive supply of tyres for the FIM Supersport World Championship, the Superstock 1000 FIM Cup and the UEM Superstock 600 European Championship.
The trustees of Pirelli’s UK pension fund have appointed Dutch company Cardano fiduciary manager of its £600 million assets. Cardano was selected due to its focus on improving the scheme’s funding ratio with less volatility that the current investment strategy implemented by Mercer. This approach is more closely aligned with the trustees’ main objective, they said.
Bridgestone UK’s training department has announced the addition of a fourth element to its Retail Business Development training programme. Dealer Selecta Tyre has been the first to engage with the new module, believing Bridgestone to “[understand] the tyre retail business better than any other external management training company we have been involved with in the past,” according to sales director Nick Henshall: “Selecta Tyre is growing as a business and as such we recognise that our retail managers are of vital importance to us continuing to achieve our future company strategies and goals.
A new battery tester from Equipexpress offers technicians and fleet owners the chance to test batteries thoroughly, as well as alternators, starters and engine earthing, then store the results and print them out through a PC. The BESA (Battery Electrical System Analyser) offers a level of functionality normally found only in much more expensive equipment. It gives a detailed analysis of the state of a vehicle's battery, now more vital than ever as modern car systems and the growth of diesel continue to impose increasing demand on batteries.
A primary supplier in major car and truck manufacturer dealership equipment programs, Hunter was pleasantly surprised by visitor numbers at the Italian trade show. “Autopromotec was very well organised and attendance was much better than we had anticipated,” said Robert Bruce the company's advertising manager.
Buying a new car is one of the most significant purchases anyone can make but some motorists in North West considered it more important than choosing a new house, picking their own children’s names and even deciding who to marry, according to a new study.
On average local drivers take just under three months (2.74) to decide what new motor to buy, while almost a quarter (23.77 per cent) need up to six months to choose before they commit to one. The national average is 2.94 months.
Upon the retirement of Michelin North America chairman and president Richard “Dick” Wilkerson later this year, current president of Michelin’s Truck and Bus division, Pete Selleck, will step into the role of heading up the company’s North American operation. Wilkerson will become chairman emeritus of Michelin North America when he retires from his current role.
As of October 1, Patrik Romberg will take over as the Trelleborg Group’s senior vice-president of Corporate Communications. He succeeds Viktoria Bergman, who leaves the company on September 30.
The Goodyear Tire & Rubber Company has announced that it has completed its previously announced redemption of $350 million in senior notes due 2016. A statement from the company continues: “Following its successful mandatory convertible preferred stock offering in March, Goodyear exercised its right to redeem $350 million in aggregate principal amount of its outstanding 10.500% senior notes due 2016. The redemption price was 110.5 per cent of the principal amount of the notes redeemed, plus accrued and unpaid interest to, but excluding, May 27, 2011. The redemption will result in savings to annualized interest expense of approximately $40 million, of which about $23 million will be realized in 2011.”
Pirelli has previewed the Spanish Grand Prix and the debut of the latest evolution of its harder compound tyre, suggesting that it should provide a longer-lasting alternative to the Yellow-coded softer compound that has been the teams’ favourite this F1 season. The company’s motorsport director Paul Hembery states: “Our new PZero Silver tyre is an evolution of the existing tyre that should provide an extra five laps or so of running compared to the previous version, widening the gap between the new hard tyre and the soft.
As he prepares for a conference call on May 23 to discuss his company’s first quarter 2011 results, Titan International chairman and CEO Morry Taylor, offered a revised outlook for the remainder of the year.
Employees at Michelin's three UK sites put on beer goggles in a drink driving simulation, heard the results of a hidden speed camera exercise and enjoyed free tyre checks to mark the launch of the United Nations Decade of Action for Road Safety initiative.
Staff at Michelin’s Stoke-on-Trent site got the opportunity on Wednesday 11 May to experience the dangers of driving under the influence of alcohol via the combination of a Mario Cart Wii driving game simulator and a special pair of 'beer goggles' provided by Staffordshire County Council's road safety department.
A combination of successfully implemented cost-cutting initiatives plus increased tyre prices in international markets are behind Bridgestone Corporation’s release of revised consolidated financial projections for the fiscal year ending December 31, 2011. The Japanese tyre maker now expects to achieve net sales of 1,480,000 million yen (£11.2 billion) during the first half of the current financial year and 3,190,000 million yen (£24.1 billion) for the full year to December 31 – an increase of 10,000 million yen on the projected figures released on February 18. Operating income for the first half has been bumped up to 72,000 million yen (£544.7 million) and 167,000 million yen (£1.3 billion) for the full year, both 27,000 million yen more than projected in February. Ordinary income projections for the half and full year have both also been upwardly revised 27,000 million yen, to 64,000 million yen (£484.2 billion) and 151,000 million yen (£1.1 billion) respectively. Projected net income for the half and full year has been increased by 12,000 million yen to 35,000 million yen (£264.8 million) and 94,000 million yen (£711.1 million).
A new low-cost ‘fit and forget’ ceramic coating offering surface temperature reductions of 125°C has been developed by coatings specialist Zircotec for diesel engine applications. The coating features a new ceramic formulation and this, together with changes to the manufacturing process, has enabled the company to reduce costs for the new Performance Diesel product – the first Zircotec application specifically developed for commercial vehicle manufacturers – by fifty per cent. Zircotec believes the coating will prove an attractive option for truck and bus manufacturers challenged by the higher temperatures experienced with new Euro VI emissions regulations and testing methods set to be introduced in late 2013.
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