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Virginia Deals With Abandoned Tyres Problem

The US state of Virginia is getting closer to eliminating millions of abandoned tyres that for decades have accumulated at hundreds of locations across the state. And now many of them are put to better use. The state has been working since the early 1990s to clean up the tyre piles, which have long been a major environmental and health problem because they pose a fire hazard and are breeding grounds for mosquitoes. The old tyres can be recycled, with the material used as a landfill cushion, mulch and as a fuel source.

22nd June 2010/by Tyrepress Editors

Euro Car Parts Not For Sale Despite Reports

Representatives of Euro Car Parts, a leading British aftermarket distributor, have rebutted reports over the weekend that the business is up for sale. According to reports posted on thisismoney.co.uk, the founder of Euro Car Parts, Sukhpal Singh had appointed adviser Robert W Baird to conclude a sale could see him receive “more than £200 million” from a total price of up to £250 million. This report pointed out that Sukhpal Singh started the company with £5,000 in an outlet in north London and has recently seen profits triple to £17 million compared with £6.6 million the year before on sales that increased from £145.1 million to £186.9 million.

However, the company’s press representatives said the report’s conclusions “couldn’t be further from the truth” and even questioned the above sales and profit figures. They confirmed that the company has “definitely not been put up for sale and is currently experiencing record trading.” On the subject of Robert W Baird’s involvement the added: “Robert W Baird is an investment company, which has been working with Euro Car Parts for almost 18 months now, exploring ways of expanding the business organically.”

17th May 2010/by Tyrepress Editors

SMMT Urges Next Government to Continue Automotive Support

More than a fortnight after the much famed scrappage scheme came to an end and two weeks before the general election, the Society of Motor Manufacturers and Traders (SMMT) has published a “manifesto” urging the next government (whoever they will be) to continue support for the UK automotive industry.

Directing its plans squarely at the next government, SMMT outlines the key issues that will affect the UK motor industry in the near future and advises on policy direction to maximise the industry’s potential. The automotive sector is a vital part of the UK economy with a turnover of £52 billion, exports amounting to 10 per cent of the UK total and supporting over 800,000 jobs and is at the forefront of low-carbon technology.

20th April 2010/by Tyrepress Editors

Casumina 2009 Profits Exceed All Expectations

The Southern Rubber Industry Joint Stock Company, better known by its trading name Casumina, reports attaining sales of 2,496,309 million dong (£84.0 million) during 2009, up 116.17 per cent on the previous year’s sales and 146.37 per cent more than expected sales for the year. The Vietnamese tyre maker’s after tax profit totaled 290,642 million dong (£9.8 million), a whopping 3,240.5 per cent higher than in 2008 and 664.33 per cent greater than the year’s expected after tax profit.

13th April 2010/by Tyrepress Editors

Increased Fuel Duty, Road Spending and Business Support in Pre-Election Budget

Alistair Darling’s last pre-election Budget has delivered a duty on fuel to be phased in between April and January 2011. The road network – the subject of much criticism following the appearance of more potholes than usual after the harsh winter season – will be subject of a £385 million investment.

24th March 2010/by Tyrepress Editors

Investigation Into Disappearance of Porsche-Tuner Gemballa Continues

The internet has become a rich source of speculation over the disappearance of Uwe Gemballa. The founder of the Porsche tuning company Gemballa disappeared after arriving in the South African city of Johannesburg more than two weeks ago. According to German police reports, Gemballa telephoned his wife in Germany shortly after arriving on February 8, informing her to transfer a million euros to a particular bank account. Police say the 51-year old stated he’d had an accident and needed a large sum of money. Since then he has not been able to be contacted.

22nd February 2010/by Tyrepress Editors

New Name for Continental in US

Continental Tire North America is no more. The company, incorporated in Ohio, has changed its name to Continental Tire the Americas LLC. The change was made on 31 January, according to reports, but no formal announcement was made. Headquartered in Ft. Mill, South Carolina, the company was once named Continental-General Tire when it was based in Akron, following Continental AG’s purchased of the former General Tire Co. Under Ohio law, the company can change its status – from “incorporated” to “limited liability corporation” – through a formal name change. The change only affects the company’s tax status, reports said, as the entity can pass all income and losses through to its owners.

5th February 2010/by Tyrepress Editors

Carlisle Merges Tire & Wheel, Power Transmission Belt Businesses

On January 20 Carlisle Companies Incorporated announced it has combined its tyre and wheel business with its power transmission belt business. Explaining the decision, company chairman, president and CEO David A. Roberts commented: “We announced plans to sell our power transmission belt business in April 2008. We were close to selling the business to a strategic buyer late last year when our transaction was derailed by the financial crises. During our extended sales process, we also considered retaining the belt business, which has remained profitable, and combining it with one of our other businesses. Though we recently received an offer near book value, the decision was made to retain and combine the belt business with our tyre and wheel business.

21st January 2010/by Tyrepress Editors

Top Technician Competition Open for Entrants

The competition to find the UK’s best mechanics, Top Technician 2010 has opened for entries and nominations at the website www.toptechnician.co.uk. The winner will be announced after three competitive assessment stages at Workshop 2010, the industry’s own parts and equipment exhibition, at the NEC Birmingham on 15 April, 2010. S/He will be awarded £2,500 tax-free, alongside thousands of pounds’ worth of prizes and – a press release for the competition states – “priceless publicity for you and your business.” Entrants must complete the initial online test by 8 January, 2010. The prize is sponsored by Blueprint, Comma Oil & Chemicals, Delphi, Euro Car Parts, Lemforder and Motor Codes.

10th November 2009/by Tyrepress Editors

JK Tyre Reports 1.369 billion rupees Operating Profit

JK Tyre & Industries Ltd. (JK Tyre) reported quarterly operating profits (EBITDA) of 1.369 billion rupees (£17.769 million; 19.670 million euros; US$29.1 million) from sales of 9.38 billion rupees, publishing the details on 30 October. First half (April to September 2009) results show the company achieved post tax profits of 1 billion rupees against net sales of 18 billion rupees.

2nd November 2009/by Tyrepress Editors

8 Year-Old Vans Now Qualify for Scrappage Deals

The terms of the Government’s revised scrappage scheme, which includes provision for replacing vans, comes into force today (22 October). In September it was announced that an extra £100 million was proposed for the Government’s scrappage scheme bringing the total budget to £400 million and covering up to 400,000 vehicles in total. The scheme will end in February 2010 or when the funding runs out, whichever is sooner.

The key change to the policy is that van owners looking to trade in their vehicles will now be able to scrap their 8-year-old van instead of the previous 10-year requirement. Car owners must trade in vehicles registered on or before 29 Feb 2000 (V registration).

Arguably sounding like the nation’s biggest second-hand car salesman, business secretary Lord Mandelson said: “Consumers and businesses looking for a new vehicle should make the most of the scrappage scheme now…but it has to end when the funding runs out.”

22nd October 2009/by Tyrepress Editors

Hasta La Vista, Scrap Tyres…

In a move that is perhaps a faint nod to his former career, California Governor Arnold Schwarzenegger has signed a bill permitting usage of a portion of the state’s scrap tyre recycling funds to “terminate” the presence of scrap tyres on the Mexico side of the California-Mexico border. The money will be used to reduce scrap tyre levels and encourage the establishment of recycling projects.

19th October 2009/by Tyrepress Editors

Trayal Workers Strike Over Unpaid Wages

Workers at the Serbian Trayal tyre factory have gone on strike over unpaid wages. Production is said to be at a standstill. According to the Sofia News Agency, 700 of the 2100 total work force have gathered at the factory gate, near where the managers’ offices are, and demanded immediate payment. The local union leader stated that this is their last chance to accomplish anything before the busy winter season takes hold.

29th September 2009/by Tyrepress Editors

Malaysia Chamber Puts Out the Welcome Mat

(Tire Review) Malaysia apparently sees an opportunity from the tyre tariff tiff between the US and China. According to Bernama new service, the country’s Chamber of Commerce is encouraging Chinese tiremakers to set up plants in Malaysia in a move to avoid the new 35 per cent tariff on exports to the US.

28th September 2009/by Tyrepress Editors

Revie Bought National Tyre Sites in £49 million Deal

Alan Revie, executive chairman and majority shareholder in the National Tyres & Autocare retail chain, has reportedly bought most of the group's properties in a £49.2 million deal. Citing Axle Group Holdings’ accounts for the year to 31 December 2008, Crain’s Manchester Business suggests the move shows that Revie is about to exit the business.

According to the report, parent company Axle Group Holdings Ltd made a profit of £3.87 million from the sale of the properties to Axle Investments Ltd, which is described as a partnership controlled by Revie. It said the sale was “on normal commercial terms amounting to £49.2 million” but added that Axle Investments still owed the group £49.2 million at the year end. During 2008, the net book value of the group's freehold land and buildings fell from £3.8 million to £107,000. The statement of recognised gains and losses includes a £37.3 million surplus from property revaluations.

15th September 2009/by Tyrepress Editors