Tenneco announces close of Federal-Mogul acquisition

Tenneco Inc., one of the world’s leading designers, manufacturers and marketers of Ride Performance and Clean Air products and technology solutions for automotive and commercial vehicle original equipment markets and the aftermarket, has announced that it has completed its acquisition of Federal-Mogul LLC, a leading global supplier to original equipment manufacturers and the aftermarket.

“Today marks an important step for Tenneco as we progress toward the transformation of our company into two strong, leading global businesses with the scale and financial flexibility to drive long-term value creation,” said Brian Kesseler, co-CEO, Tenneco.

The transformational acquisition, which was first announced in the second quarter of 2018, accelerates long-term value creation by creating two product-focused, purpose-built industry leaders in their respective markets with greater scale, and strategic and financial flexibility. This closing precedes the planned separation of the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an Aftermarket and Ride Performance company and a Powertrain Technology company. The spin-off is expected to be complete in late 2019.

“This transaction makes possible the ability to create two new product-focused companies with even stronger portfolios positioned to capture unique opportunities in their respective markets,” said Roger Wood, co-CEO, Tenneco. “Now that we have completed the acquisition, we look forward to accelerating the successful realignment of the businesses and creation of the new companies.”

Cash consideration of $800 million was financed through a new senior credit facility that will replace Tenneco’s existing senior credit facilities and certain senior facilities of Federal-Mogul LLC. The new senior credit facility consists of a $1.7 billion term loan A, a $1.7 billion term loan B and a $1.5 billion revolving credit facility.

The company also announced the expansion of its board of directors from 10 to 11 members and the election to the board of directors of Mr. Keith Cozza, President and CEO, Icahn Enterprises L.P., effective today, in accordance with the terms of the Federal-Mogul purchase agreement.

Headquartered in Lake Forest, Illinois, Tenneco is one of the world’s leading designers, manufacturers and marketers of Ride Performance and Clean Air products and technology solutions for diversified markets, including light vehicle, commercial truck, off-highway equipment and the aftermarket, with 2017 revenues of $9.3 billion and approximately 32,000 employees worldwide.

On October 1, 2018, Tenneco completed the acquisition of Federal-Mogul, a leading global supplier to original equipment manufacturers and the aftermarket with nearly 55,000 employees globally and 2017 revenues of $7.8 billion. Additionally, the company expects to separate its businesses to form two new, independent companies, an Aftermarket and Ride Performance company as well as a new Powertrain Technology company, in late 2019.

About the Future Aftermarket and Ride Performance Company
Following the separation, the aftermarket and ride performance company will be one of the largest global multi-line, multi-brand aftermarket companies, and one of the largest global OE ride performance and braking companies. The aftermarket and ride performance company’s principal product brands will feature Monroe®, Walker®, Clevite®Elastomers, MOOG®, Fel-Pro®, Wagner®, Champion® and others. The Aftermarket and Ride Performance company would have 2017 pro-forma revenues of $6.4 billion, with 57% of those revenues from aftermarket and 43% from original equipment customers.

About the Future Powertrain Technology Company
Following the separation, the powertrain technology company will be one of the world’s largest pure-play powertrain companies serving OE markets worldwide with engineered solutions addressing fuel economy, power output, and criteria pollution requirements for gasoline, diesel and electrified powertrains. The powertrain technology company would have 2017 pro-forma revenues of $10.7 billion, serving light vehicle, commercial truck, off-highway and industrial markets.

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Tour de Fourth

Digraph has opened a new branch in Ellesmere Port, Cheshire. The commercial vehicle factor has now opened four new outlets in just three months, with plans to add more before the end of the year.

The new 6,500 sq ft site officially opened at the end of August and complements Digraph’s existing branch in Northwich. With an extensive stock range, the new outlet enhances the company’s presence in Cheshire, allowing Digraph to service customers on The Wirral more quickly, with off-the-shelf stock availability. This enables the Northwich branch to focus efforts on local customers, with direct access to stock from Ellesmere Port.

Digraph CEO, Sukhbir Kapoor, commented: “Digraph is currently growing at rapid pace. We are committed to improving service levels across the UK commercial vehicle parts aftermarket with major investments in our national network, our people, stock ranges, delivery speed and value-added programmes. The new branch in Ellesmere Port is an important part of our expansion plans, enabling us to serve the local customer base quickly and effectively.

“We are working hard to go the extra mile for customers, building an exceptional team of people and offering the highest quality parts at the best prices for repairers nationally.”

Digraph Ellesmere Port currently has 10 dedicated members of staff and a five-van fleet.

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Alliance Automotive Group acquires Platinum International Group Ltd.

Alliance Automotive Group UK (“AAG”), a leading distributor of vehicle parts and workshop tools and equipment, announced today that it has acquired Platinum International Group Limited (“Platinum”), a leading distributor of batteries in the UK.

AAG is one of the largest automotive aftermarket distributors in the UK, with a focus on light vehicle and commercial vehicle replacement parts. Headquartered in Milton Keynes, AAG has over 4,000 employees and 780 company-owned and affiliated distribution outlets across the U.K. Since 2017 AAG has been part of Genuine Parts Company, the world’s largest automotive aftermarket distributor with activities in North America, Europe and Australasia. AAG has a consistent track record of organic growth supported by strategic investments, such as Platinum, to strengthen both its geographic and product coverage.

Steve Richardson, Managing Director of AAG UK stated, “We are excited to welcome Platinum into our UK business and to strengthen our position in the UK battery market. We have tremendous respect for Platinum as a long-standing supplier to our Group and are confident the integration of the company into AAG will add value for all our customers and lead to long term, sustainable, growth. Platinum has a strong and talented management team and is an excellent strategic fit for our Group”.

Chris Taylor, CEO and founder of Platinum said, “I am delighted to see Platinum become part of AAG, especially with its reputation as a leader in the UK market. Platinum has been built over a long period of time and I would like to thank my team for their hard work and contributions to making the business a success. The development of Platinum is also a testament to how much support and loyalty we receive from our customers and suppliers and I’m convinced that, together with AAG, Platinum will continue to achieve great things. I’m confident that I’ve found the best long-term home for the business.”

About Genuine Parts Company
Genuine Parts Company (GPC) is the largest distributor of automotive replacement parts in the world with activities in North America (U.S., Canada, Mexico), Europe and Australasia. GPC is also a leading distributor of industrial parts with a presence in North America and Australasia. GPC had 2017 revenues of $16.3 billion. Further information is available at www.genpt.com.

About Alliance Automotive Group
Alliance Automotive Group is the European division of GPC and a leading distributor of light and commercial vehicle parts to the independent aftermarket in France, Germany, UK and Poland. AAG trades under the Groupauto France, Précisium, Partners and Gef’Auto brands in France, Groupauto UK, UAN, FPS, Apec and BTN in the UK, Alliance Automotive Group Germany in Germany and Groupauto Polska in Poland. AAG serves approximately 40,000 garages with over 100,000 different parts for repair and maintenance from a network of more than 400 company-owned stores and over 2,000 affiliated outlets. Further information is available at www.allianceautomotivegroup.eu.

About Platinum International Group Limited
Platinum International is the UK’s largest independent battery and lubricants distributor supplying products to the automotive, agricultural, mobility, marine and leisure industries. Established in 2002 and headquartered in Manchester, Platinum has 10 regional distribution centres across the UK with an additional distribution centre in The Netherlands. Further information is available at www.platinuminternational.com

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IAAF Awards 2018 – Voting now live

The voting for this year’s IAAF Awards has now gone live, with a special issue of the eBulletin having been sent out once the nomination period closed.

The response rate has been exceptionally good across all of the five awards, including the new award for Service Suppliers.

Voting will remain open until 2nd November, so to ensure your vote is included, go to the IAAF WEBSITE and have your say.

To make the whole process much more accessible the IAAF has introduced a more streamlined system. Suppliers can vote on distributors and distributors can vote for suppliers. Both can vote for the new category of Service Supplier. Companies cannot vote for themselves.  The voting system will be moderated but will be completely confidential.

The winners in each category will be announced at the IAAF Awards Dinner on 6th December 2018 to be held at the DoubleTree by Hilton in Milton Keynes. If you have not already booked your places at the Dinner, or the Conference which will be held earlier in the day, you can download the  IAAF Reservation Form 2018 Rev , complete and return it to the IAAF Office.

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MAHLE Aftermarket appoints Jonathan Walker as General Manager Aftermarket Western Europe

MAHLE has appointed Jonathan Walker as General Manager Aftermarket Western Europe, in addition to his current role as General Manager Aftermarket UK & Ireland.

Walker takes over from Georges Mourad, who at the same time will adopt a global position of Director of Operations worldwide both within the Aftermarket Business Unit.

Walker has over 25 years’ experience in the automotive industry, where he has spent a large period of that time with MAHLE. He was recruited to the Group’s aftermarket operation as General Manager Aftermarket UK & Ireland in 2013, playing a key role in expanding MAHLE’s replacement parts business in the UK and Ireland into new product sectors, including thermal engine management, air conditioning and diagnostics.

Prior to that, for seven years he worked at MAHLE Filter Systems UK in Telford, as head of design, quality and development engineering for air induction systems and filtration.

Walker said: “I’m looking forward to advance and develop all business opportunities throughout Western Europe including synergies, best practice, customer and product developments in line with our strategic objectives to work at the height of MAHLE’s professional level of excellence.”

Olaf Henning, Corporate Executive Vice President and General Manager Aftermarket of MAHLE, said: “We would like to wish Jonathan good luck and every success in his new assignment. His contribution to MAHLE to date has been invaluable and we’re delighted that we’re able to further harness his level of experience and expertise for the benefit of the company and our aftermarket customers.”

As one of the 30 largest automotive suppliers and one of the top 3 systems providers, MAHLE supplies products that are used in every second vehicle around the world. Almost all vehicle and engine manufacturers work with MAHLE when dealing with piston systems, cylinder components, valve trains, air management, and fluid management systems.

The MAHLE Aftermarket division transfers this knowledge to its partners in retail, repair shops, and engine reconditioners, as well as into the corresponding products.

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Nissan recalls nearly 240,000 vehicles

Nissan is recalling almost 240,000 cars and SUVs around the globe due to a fire risk.

According to Automotive News Canada, 19,761 of the vehicles being recalled are in Canada, and 215,124 vehicles in America.

Included in the recall are certain 2015 to 2017 Nissan Muranos, 2016 and 2017 Nissan Maximas, 2017 to 2018 Nissan Pathfinders and 2017 Infiniti QX60 cars. Nissan estimated that 56% of the listed vehicles have the malfunction.

The reason for the recall is an issue with the anti-lock brake pump. Defective pumps can leak brake fluid on the circuit board, which could lead to an electrical short and possibly start a fire, according to Nissan.

Beginning 15 October, Nissan dealers will check the pump serial numbers and will replace them accordingly.

The car company has warned drivers that if they see the anti-lock brake warning light of their vehicles on for more than 10 seconds after starting the engine, they should stop immediately stop driving and park their vehicle outdoors away from structures and other cars.

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Our Virtual Academy latest member to sign up to IAAF

The Independent Automotive Aftermarket Federation (IAAF) has announced that online training provider Our Virtual Academy (OVA) has become the latest company to join the industry body’s growing membership roster.

Using cutting-edge learning technology and its vast industry expertise, OVA supports vehicle technicians by providing online interactive video-based technical training at manufacturer level, delivering a cost-effective training solution via an internet subscription.

Through constantly evolving content, it delivers training in order to enhance technicians’ knowledge and expertise, bringing manufacturer level knowledge and skills to the aftermarket.

By means of a series of online automotive technical training videos, OVA covers a wide range of technical subjects, as well as tackling the more complex topics of Diesel Diagnostics, Hybrid and EV and Air Conditioning, to arm technicians with essential know-how for future technology.

With a customer base including several leading names in the automotive industry and independent workshops across the UK and Ireland, OVA also provides training to colleges to equip tomorrow’s talent with the right industry skills.

Ben Stockton, Our Virtual Academy managing director, said: “Now we’re a member of the IAAF we will be able to keep our ‘ear to the ground’ regarding future trends and issues associated to the automotive industry. In addition, we look forward to developing further strong relationships throughout the sector.”

Wendy Williamson, IAAF chief executive, said: “We are extremely pleased to welcome onboard OVA, a company whose main objective is focused on equipping the automotive aftermarket with the right tools to handle the technological developments and challenges that are just around the corner.

“Our aim is to ensure they get the most out of what benefits IAAF membership has to offer.”

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Third time lucky for Ring as it takes best buy award

Ring Automotive, the world-leading lighting and automotive electrical specialist based in Leeds, is celebrating after its 12V Preset Digital Air Compressor RAC635 secured the Auto Express Best Buy Award for a third time.

Competing against other industry specialists, Ring’s air compressor received the five-star accolade and came out on top as the reviewers measured the product’s reading accuracy and the time taken to inflate a 15inch tyre from 20PSI to 30PSI, whilst also providing extra points for the overall performance of the product.

No stranger to industry accolades, this latest award takes the brands total to more than 182. Earlier in the year, Ring was also named Product Award Winner 2018 in the Digital Tyre Pressure Gauge category for Auto Express and awarded highly commended for its RIL3600HP MAGflex Twist LED Inspection Lamp and the RW1577 Xenon150 Headlight Bulbs.

Ring’s extensive tyre care range has proven to be a firm favourite amongst consumers and expert reviewers alike as its tyre inflators, gauges and emergency tyre repair solutions help drivers to stay safe on the road and maximise performance.

Henry Bisson, Marketing Manager for Ring, comments: “We have invested heavily in recent years to make sure that we are able to provide industry leading products, while also focusing on innovations that will see our range meet with the needs of drivers today and in the future.

“Having independent verification that our products are five star gives us a renewed sense of confidence as we continue to move forward and create accessories for the aftermarket that reiterate our marketing leading position and dedication to quality and performance.”

For further details about the RAC635, please access the following video https://www.youtube.com/watch?v=AlEscjIe784&t or for details about Ring and its range of products that sit within three categories; vision, inspection and power, please visit, www.ringautomotive.com.

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Exol Lubricants a finalist for 2018 Birmingham Post Business Awards

Exol, the UK’s biggest independent lubricants company, have been shortlisted as a finalist in the Export Award category for a second year running at this year’s Birmingham Post Business Awards 2018, in recognition of its excellent global customer service standard.

Birmingham Post Business Awards celebrate the best businesses in the region that have delivered business excellence for themselves, their staff and their customers, boosting the economy while making a positive contribution to the local community.

The winners across 15 different categories, featuring both companies and individuals such as small business, entrepreneur and contribution to the community, will be decided by a judging panel and announced at an awards final on November 1, at the Birmingham ICC.

Last year, Exol was named runner-up for the Export Award, where it marked its achievement as the only business shortlisted in the category from the automotive, commercial, agricultural, industrial, off highway & rail sectors, further underlining its position as the UK’s No.1 independent lubricants company.

Exol has recently enhanced its approved export status, now increasing its export offering by supplying more than 40 countries worldwide, including Nigeria, Turkey, Iraq, China and Taiwan. The company has successfully extended its export business throughout Africa, Asia, Eastern Europe, the Middle East, appointing strategic partners in various countries.

Steve Dunn, Exol sales director, said: “We are delighted to have reached the final for this award for the second year running. We’ve worked hard to cement our position as one of the fastest growing lubricants companies, as well as one of the biggest exporters within the region. For this to be acknowledged again by such a highly esteemed publication as the Birmingham Post speaks volumes.”

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Driving in the EU after Brexit

Licence Bureau, which carries out driving licence checks, has warned UK drivers that their driving licences may not be valid in the European Union (EU) in the event of the nation exiting with no withdrawal agreement in place.

After March 2019 UK drivers looking to drive on business or pleasure in EU countries or looking to hire a car will need to be in possession of both a UK driving licence, and one or both of two different International Driving Permits (IDPs).

The warning from Licence Bureau follows the Department of Transport (DoT) publishing a detailed guidance document on the 13 September entitled ‘Driving in the EU if there’s no Brexit deal.’

‘It’s something businesses and individuals need to be aware of, to start thinking of developing contingency plans should the issue arise,’ explained Malcolm Maycock, managing director of Licence Bureau

According to the DoT, there are two types of IDP required by EU countries. Each is governed by a separate United Nations convention – one IDP is governed by the 1949 Geneva Convention on Road Traffic and the other is governed by the 1968 Vienna Convention on Road Traffic.

The IDP version required depends on which EU country you are visiting and whether it is party to the 1949 or the 1968 convention.

After 28 March 2019, a UK-issued 1968 convention IDP would be recognised in all other EU countries, plus Norway and Switzerland.

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