Administrative Receivers have been appointed to Finelist plc and its trading subsidiaries, which includes Motorworld. Finelist produces motor components and has a turnover of 500 million Pounds. The company employs almost 5,500 people in 600 UK locations. The receivers hope to sell the business as a going concern.
Cooper-Avon Tyres has announced that it is to phase out the production of medium sized truck and bus tyres at its Melksham, UK plant. The company intends to concentrate on passenger, light truck, motorcycle and racing tyres.
The assets of UK company Gemco Ltd have been purchased by Stenhoj, of Denmark. A new company, called Gemco 2000 Ltd. will begin trading. Gemco provides a range of garage equipment and services and Stenhoj was the company’s biggest supplier. Stenhoj consists of 8 companies, 4 of which are foreign subsidiaries.
The future of Nissan’s plant at Sunderland, UK will be decided by the company in. It hinges on whether the plant is chosen to build the new Micra, but Chief Operating Officer and President Carlos Ghosn has hinted that costs may force the group to make the car in France or Spain.
At a recent BIPAVER meeting, it was agreed that the UK’s Retread Manufacturers Association should take over the administration of the retreading section of BIPAVER. Said an RMA spokesman: “We recognised a need for consistent representation, particularly in what is proving to be a very difficult time for the retreading industry. To form two separate divisions under the BIPAVER umbrella seemed to be both logical and sensible.”
At the recent conference of the UK National Tyre Dealers Association (NTDA), Chairman of Council Ashley Croft announced that the Rapid-Fit chain of retailers had applied for membership. Rapid-Fit consists of 300+ fast-fit depots, owned by individual Ford car dealers. This will bring the number of centres in NTDA membership to more than 2,000.
Former apprentice engineer with Michelin, now multi-millionaire businessman, John Caldwell, has pledged to try to find work within his mobile phone empire for the 950 Michelin workers facing the axe. Caldwell already employs 2,000 people in North Staffordshire and Crewe. He runs some 110 Phones 4U shops throughout the UK and has plans to take on 1,000 more people within the next year. The bulk of the new posts would be in communications positions.
One of the UK’s leading tyre wholesalers, R. H. Claydon Ltd, suffered minimal fire damage at the end of last week at their Stockport, Cheshire warehouse. The fire started in an adjoining building belonging to another company and spread to the warehouse, but no stock was damaged and the sales division continues to operate normally.
On 11th November, The Society of Motor Manufacturers and Traders (SMMT) announced a new tyre exhibition for the UK. The show (as yet unnamed) will run alongside the Automotive Trade Show at Birmingham’s NEC between 29th April and 2nd May, 2001. The SMMT says that it makes good business sense for tyres to be a part of an aftermarket exhibition.
Avon Rubber has blamed falling car production in the UK for a 40% drop in annual profits to £3.3 million. Direct sales of automotive and technical products to Ford and Rover fell £7.6 million to £27.1 million. Shares fell 12.5p to 455p.
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