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Investment Group to Take 49 per cent Share in The Tire Rack

(Akron/Tire Review) Automotive News has reported that the Los Angeles-based investment group, Leonard Green & Partners will buy a 49 per cent stake in the Tire Rack. Leonard Green & Partners, which also owns shares in the Rite Aid drugstore chain and Diamond Triumph Auto Glass will effectively buy out The Tire Rack founders, Peter and Wilma Veldman, while remaining family members and senior management would retain 51 per cent in the South Bend, Ind., mail order and wholesale tyre and wheel company.

Family members and senior management that will retain majority ownership include Mike Joines, Tom Veldman, Matt Edmonds and Mark Veldman. In addition The Deal.com suggested Leonard Green & Partners’ would spend in excess of $350 million for its minority stake in The Tire Rack.

14th June 2005/by Tyrepress Editors

GM Stands Out on Tyre Aging Issue

(Akron/Tire Review) In an unusual split from its Big 3 brethren, General Motors did not take the opportunity to stand with Ford and DaimlerChrysler on the subject of tyre aging. GM, in a statement issued earlier this week, said it would not endorse the other automakers’ position that tyres six years old or older should be replaced.

3rd June 2005/by Tyrepress Editors

ATD Releases First Quarter Operating Results

(Akron/Tire Review) American Tire Distributors Holdings Inc (ATD) has announced operating results for the first quarter ended 2 April. Consolidated net sales increased 17.6 per cent to $354.3 million, versus $301.4 million in the first quarter of fiscal 2004, and gross profit increased 10.9 per cent, ATD reported.

19th May 2005/by Tyrepress Editors

Deaths Caused by Exploding Tyres

An unnamed 19-year-old man has died after a tyre exploded while he was inflating it at his workplace. The man was working at a tyre firm in Cleland, Lanarkshire when the tyre threw him backwards into a wall, the BBC has reported.

19th May 2005/by Tyrepress Editors

Trelleborg Approves Arnco Flatproofing Product

(Akron/Tire Review) Sweden’s Trelleborg Wheel Systems has approved Arnco’s SuperFlex and RePneu flatproofing fill for use in its branded agricultural tyres. Arnco European Sales Manager Andrew Elliot said the results of extensive laboratory and field testing conducted by Trelleborg were a major factor in the decision.

Commenting on the testing, Trelleborg field engineering manager Bo Lenander said: “The end-user specially pointed out the positive side of being spared the expensive tire repairs, wrecked tires and the difficult and expensive down time. It was also noted that they were let off the continuing tyre pressure checks and the otherwise constant concern for air leakage.”

9th May 2005/by Tyrepress Editors

New Off Road Tuning Wheel

Size does matter. Well that’s what Cobra Technologie & Lifestyle say. And in keeping with this philosophy the company now offers the new Cobra Sahara 10Jx22 light-alloy wheel for premium off-road vehicles such as the BMW X5, the Mercedes M-Class, the Mitsubishi V60, the Porsche Cayenne, the Volvo XC 90 and the VW Touareg.

9th May 2005/by Tyrepress Editors

New UK Distributor For Toora Alloy Wheels

Toora, the Italian alloy wheel manufacturer, has announced that its new UK distributor is to be Exclusive Tuning & Design. Established in 1993, Toora have modern facilities based in Bergamo, and have a range of popular designs which have sold well throughout the UK.

Exclusive Tuning are based in Exeter and have a management team with decades of experience in the UK’s aftermarket industry. Paul Normington of Exclusive Tuning said: “We are delighted to have been selected by Toora to supply their well designed range of wheels. We will be holding large stock levels to ensure we can cope with the strong demand.”

29th April 2005/by Tyrepress Editors

Titan Announces First Quarter Results

(Akron/Tire Review) Titan International Inc has reported record first-quarter net income of $11.2 million, up 111 per cent from last year’s first quarter. Net sales were $136.1 million for the first quarter, ended 31 March and gross profit was $24 million. Basic earnings per share also set a record at $0.68 for the quarter, the company said. Classified by segment, revenues were $89 million for agricultural, $39 million for earthmoving/construction and $7.5 million for consumer.

29th April 2005/by Tyrepress Editors

MWS Launches Forged Aluminium CV Wheel

Motor Wheel Service Group launched a full range of forged alloy wheels at the recent Commercial Vehicle/Automotive Trade Show. According to the company, the new forged alloy wheels are exclusive to the MWS Group and will increase the range of wheels already stocked by the company. MWS is remaining tight lipped about which company is responsible and where the new wheels are being produced, but was keen to point out that the MWS forged alloy range will include both polished and machine-finished wheels and will be available through the company’s MWS Wheel Systems (OEM source) and MWS Aftermarket divisions.

26th April 2005/by Tyrepress Editors

New Racex Marketing Material

Racex, the supplier of exterior and interior styling accessories for cars, has launched a range of updated marketing material.

22nd April 2005/by Tyrepress Editors

Alcoa Opens New Facility in North Carolina

Following a $6 million investment Alcoa’s Subassembly and Logistics business will open a new manufacturing plant in North Carolina.

The company, a part of Alcoa Wheel and Forged Products, provides wheel and tyre assemblies to the Freightliner Group, the largest heavy-duty truck manufacturer in North America and a leading manufacturer of medium-duty and specialised commercial vehicles.

The new facility is scheduled to begin production in mid-April. It will add to Alcoa’s presence in North Carolina, where it already has four other operating locations.

15th April 2005/by Tyrepress Editors

Fasep Introduce Tilting Balancer

Tyre equipment manufacturer, Fasep, has introduced a new automatic tilting balancer. The Videotronic V652 allows wheels to be mounted horizontally to aid centring. It also has a pneumatic tilt system with electronic control, full automatic wheel data input and a laser system for application of adhesive weights. A 15 inch LCD monitor has also been included in the design, to ease operation of the machine.

15th April 2005/by Tyrepress Editors

Montupet Invest in North Irish Wheel Production

Automotive supplier Montupet S.A. (France) felt a recession of around three to four per cent in sales in 2004, or 423 million euros. However the company’s annual general meeting has reported a net profit of 17.72 million euros, but more importantly reduced its debts to 22 million euros. Investments including that into Renault engines, a Canadian plant for Chrysler/USA and the modernisation of a Belfast aluminum cast wheels factory, were valued at 26 million.

12th April 2005/by Tyrepress Editors

Cooper Tyres Championship Kicks Off

Drivers from 15 different countries, including Great Britain, Venezuela and Canada, will be among the contenders of the opening two rounds of the 2005 Cooper Tyres Championship for Formula Ford 2000 cars, that kicks off as part of the Grand Prix of Atlanta ALMS event at Road Atlanta next weekend.

Drivers Jay Howard and Joey Foster will be representing Britain. Howard contested two races in the Cooper tyres championship last season, winning once at Infineon Raceway. Foster won the Formula Ford Festival and World Cup at Brands Hatch in 2003, and will drive for Cape Motorsports, which has won the title in three of the last five years.

11th April 2005/by Tyrepress Editors

Omitec Launches Tyre Pressure Monitoring Valve Tester

Omitec, a leading UK independent test equipment manufacturer, has launched a new product to test vehicle tyre pressure monitoring valves. The product called OmiDetect 150 establishes if a wheel valve in a tyre pressure monitoring system (TPMS) is operating.

7th April 2005/by Tyrepress Editors