Celebrity news and gossip site tmz.com reports Mel Gibson has settled the tyre tech-related lawsuit brought against him by Nader Sherif. The settlement involves Gibson’s payment of an undisclosed sum to Sherif, and further details have not been made public.
In a press statement intended for readers located outside of the USA, Compagnie Générale des Etablissements Michelin announced it has repurchased open market shares between October 2011 and January 2012 for more than ten per cent of the issued number of its lowest ranking subordinated notes (titres subordonnés remboursables de dernier rang), due 3 December 2033, for an aggregate nominal amount of 500,000,000 euros admitted to trading on the regulated market of NYSE Euronext Paris under ISIN FR0010034298. Following the repurchase which is mentioned in this information, the outstanding nominal amount is 97,938,000 euros.
During a special meeting held on 31 January, the holders of Pirelli & C. SpA savings shares nominated Professor Giuseppe Niccolini as their common representative for the years 2012, 2013 and 2014. He will replace Giovanni Pecorella, whom Pirelli wishes to thank for his service.
Schaeffler AG, which currently controls what is effectively a 60 per cent stake in Conti, has announced plans for new credit worth around 8 billion euros. In addition to this refinancing, the company announced plans to issue 2 billion euros of bonds.
According to financial analysts at Morgan Stanley, this all comes around the same time as ratings agencies Stand & Poor’s and Moody's are planning to publish official credit ratings. And all follows Schaeffler’s decision to change its legal form into AG back in September 2011 in order to gain better access to capital markets.
A world first has been claimed by Denmark’s Starco. The company reports it has begun coating the steel wheels it produces, both pressed and spun, with the ‘e-coat’ nanotechnology treatment. The application of e-coat during the steel wheel production process began at Starco’s Beli Manastir, Croatia wheel plant at the start of this year, following the installation and commissioning of equipment there in the final quarter of 2011. Starco says it is currently the only press wheel manufacturer using e-coat.
Titan Tire will utilise the former Goodyear plant in Union City, Tennessee to produce and redistribute materials to other company facilities. Tire Review shares that Titan Tire chairman Bill Campbell told local media that the plant’s operation – polyester and blending rubber and steel strands used in tyre belts – will create 300 jobs by the end of 2012.
Birmingham motorcyclist, Mitu Rahman has won a Pirelli Yamaha YZF-R1 British Superbike ‘pace bike’ in a competition organised by the Italian tyre company and Black Horse Consumer Finance. The bike was also signed by 2011 BSB champion Tommy Hill, and comes equipped with the latest Pirelli Diablo Rosso Corsa tyres. The bike helped Hill beat American rival Hopkins to take the series crown in the final round at Brands Hatch by 0.006 seconds.
Online tyre dealer Delticom reports that 2011 was “again a successful year.” The German-based company’s preliminary figures for the recently concluded financial year show a 14.4 per cent increase in revenues, to 380.0 million. During the 12 month period EBIT grew 9.6 per cent to 52.2 million and earnings per share were up 8.4 per cent to 2.99 euros.
The car industry reported that new car registrations fell 4.4 per cent in 2011, with new car demand totalling 1,941,253 units in 2011. That said the total was ahead of the 1.92 million forecast. The SMMT, which collates national registration statistics projected that 2012 will be “broadly flat.” Nevertheless a firmer recovery expected in 2013.
Roadside service provider Mondial Assistance shares that cost is a major factor putting UK motorists off purchasing winter tyres. In a recent 200-person survey it conducted, just under two thirds of respondents said they do not intend to fit winter tyres to their vehicles; from this group, 46 per cent said they won’t fit winter tyres as they cost too much money.
According to Continental, an estimated 2.8 million electric vehicles will be registered worldwide and on the road by 2020. To cater to this currently small yet fast-growing market, the tyre maker has introduced the Conti.eContact, a new range featuring dimensions specifically aimed at electric vehicles.
The English language version of Yokohama Rubber’s 32-page CSR Report 2011 is now available. Two versions of the company’s corporate and social responsibility document are available – a print version, which is available to download as a pdf, and a digital version. This second option contains more detailed information than the print version, the company shares. Both versions were first published in Japanese in August 2011.
In the four and a half years since Hankook Tire’s Rácalmás plant in Hungary entered production, the facility has produced a tyre or two. In fact, the company shares that the 25th million tyre rolled off the production line in November 2011 – and the facility’s current capacity means it will take only half this time to manufacture the next 25 million tyres.
Those who ‘soldier on’ throughout winter on two wheels need all the help they can in maintaining grip. Metzeler says its Feelfree Wintec is the first tyre conceived to allow scooter riders to use their two wheelers in every season, especially in the coldest months. The range was first introduced in 2007 for maxi scooters of up to 650cc and the tyre maker has now added a number of new sizes.
The Nizhnekamsk SSC Tire Factory has began production of a new size rear axle fitment for its Kama N 202 series range; the new addition is a 295/80 R 22.5 fitment. In a statement announcing the new tyre’s release, the Russian tyre maker shares that its Kama ‘N’ series tyres with a 202 index are “designed to run on asphalt, rough terrain or dirt roads at any time of the year at temperatures from -45°C to +55°C.”
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