Avon Rubber sells auto ops May 23, 2006
Avon Rubber, the UK rubber manufacturer, is to sell its US automotive division for GBP63 million. Senior managers at Avon Rubber’s automotive group, backed by Red Diamond Capital, a private equity firm based in New York, are to lead the buyout, which is expected to be completed within three weeks. With annual revenue of approximately $349 million (E280 million, GBP188 million), Avon’s automotive unit is a leading global supplier of low-pressure hoses for air induction, fuel and coolant systems, as well as vibration-management products. Commenting on the disposal, Trevor Bonner, chairman of Avon Rubber, said: ?The disposal signals a …
More Than offers ‘green motoring’ discount
UK insurer More Than is offering new hybrid car drivers a discount on their motor insurance and reduced premiums for existing customers. More Than, the direct financial services arm of Royal & SunAlliance, said that the move is part of an effort to lead the green motoring crusade by being the first insurer to offer a discount to hybrid car drivers in the UK. The insurer commissioned research into UK attitudes toward hybrid cars, which are powered by two sources, usually a petrol-electric combination. The study found that 74% of drivers are seriously concerned about the rise in petrol …
Porsche to launch ‘entry-level’ Cayman May 22, 2006
Following the successful market launch of the Cayman S in autumn 2005, Porsche is introducing the Cayman, a new ‘entry-level’ version of the mid-engine sports coupe. Based on the Boxster series, the two-seater is powered by a six-cylinder boxer engine with a capacity of 2.7 liters and developing an output of 245 bhp. With its high and sustained propulsive power in the lower and medium speed ranges, the model has a top speed of 258 kilometers per hour, accelerating from 0 to 100 km/h in 6.1 seconds. “The Cayman is convincing proof of the fact that outstanding performance …
TNT Automotive Logistics Italy achieves IiP certification
TNT Automotive Logistics, a division of TNT Logistics Italy & South America, has been awarded Investor in People (IiP) certification. IiP is an internationally recognized standard which sets out a level of good practice in human resource management. It is awarded to companies that can prove they comply with specific quality criteria in the management, training and development of their people. The IiP certification initiative involved all parts of TNT Automotive Logistics Italy operations, with its more than 1,000 employees. Ilaria DallaRiva, director of human resources and marketing for TNT Logistics Italy & South America commented, “This is a …
Around the Block: 2007 Mitsubishi Eclipse Spyder GT: Along Came a New Spyder May 21, 2006
The Spyder’s biggest innovation is an “out of sight” soft top that electrically retracts and disappears into its own compartment under the trunk lid. WHAT IS IT? Sporty 2+2 convertible HOW MUCH? $29,794 base with automatic transmission; $33,702 as tested with $1,090 premium sport package (leather front seats, 18-inch alloy wheels, power driver’s seat and more) and $1,999 appearance package (aerodynamic body cladding, alloy fuel door, special floor mats, wheel locks).WHAT MOVES IT? 3.8-liter V-6 (260 horsepower); five-speed automatic; front drive. HOW THIRSTY? Rated 17 m.p.g. in town, 26 on highway (with automatic); 21 m.p.g. observed. Premium fuel recommended.ALTERNATIVES: Ford …
Green Tech: Is That a Tinge of Green on New York’s Yellow Cabs?
With 27 hybrid cabs now on New York streets, drivers and fleet operators are starting to feel the effects ? in their wallets. “A year ago, we still used $20 to $30,” he said, his speech, 22 years after arriving in New York, still tinged with the cadences of Bangladesh. “Now, it’s more ? now almost minimum $40 to $50 for gasoline every day.”But some days ? when he is lucky enough to find himself behind the wheel of a Ford Escape S.U.V. hybrid taxi rather than a Ford Crown Victoria sedan ? Mr. Islam saves up to $15 over …
TNT Logistics to double-shift Disney Store, Nissan vehicles May 19, 2006
The Disney Store, the retail arm of media conglomerate The Walt Disney Company, has awarded TNT Logistics its UK distribution contract - and TNT is utilizing vehicles assigned to another customer to benefit both of its clients. The TNT liveried vehicles which are used to deliver Nissan Renault spare parts to 450 dealerships throughout the UK at night will also be utilized to deliver merchandise to the 59 Disney stores in the UK during the day.”Both clients are based at Magna Park in the Midlands and by maximizing the use of the vehicles, we are reducing costs for everyone,” …
Japanese Cars, American Retirees
Japanese automakers put health and pension burdens squarely on the workers, a distinct advantage over their American counterparts. They built a string of manufacturing plants in the South, employing tens of thousands of local workers. They hired American designers. They spent millions on ads to trumpet their growing roots in communities across the country. “Being a good corporate citizen starts with hiring lots of good citizens,” one Toyota ad says. Yet as they built up their operations, the Japanese “transplants” have worked hard not to resemble an American car company in one vital respect: how they treat their retirees. “We …
Vector trumpets success of auto visibility solution May 18, 2006
Vector SCM, the global logistics management joint venture between Con-way and General Motors, said it has successfully rolled out its European Vehicle Visibility (EUVV) program for General Motors Europe (GME), providing outbound logistics visibility and exception management of finished vehicles to all GME dealers across Europe covering all modes. In directing a network of more than 70 outbound service providers moving some 1.7 million GM vehicles to 54 countries annually, Vector provides visibility to some 11 million shipments per year, supporting finished vehicle delivery for two GM brands. Vector said its management program, which leverages the company’s process-driven …
G.M. Shakes Up Its Accounting Division
DETROIT, May 17 (Reuters) ? In response to a series of accounting errors, General Motors said on Wednesday that it would overhaul its corporate controller’s office and hire a financial advisory firm. Paul W. Schmidt, the current controller, will retire later this year and Peter R. Bible, the chief accounting officer, will resign effective June 1, G.M. said in a statement. The company said it would combine the two positions and search for a successor outside the company.G.M. also said it had retained AlixPartners, an advisory firm, to help with accounting, financial reporting and related matters.Fritz Henderson, the company’s chief …
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