Archive | December, 2015

IAAF: WILLIAMSON’S STARK WARNING

IAAF: WILLIAMSON’S STARK WARNING

IMG_20151217_103228IAAF chair Wendy Williamson has opened the Federation’s annual conference with a stark warning.

Under the theme of ‘survive and thrive’ Williamson spoke about the challenges presented to the independent sector by new cloud-based technology that is being introduced by the vehicle manufacturers.

“The threats from the VMs have now grown to unprecedented levels. Last year we talked about the connected car, but this year. We are facing a potential lock out from all the VMs. I genuinely believe that this is a greater threat than we faced ten years ago with block exemption regulations.”

“Technology seems to be outpacing regulations. To give you one example, Volvo have deleted functionality from the 16-pin socket apart from emissions data. The next step is that the garages will have to have pre-verified diagnostic tools and will have to pay the VM on a case-by-case basis to access the information they need.”

Williamson also thanked the industry for the work it had done in the past year. “I believe we are on the right track and I hope we are not just surviving, but thriving as well and I hope you enjoy what will be an interesting and stimulating day”.

 

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CAT’S INSIDE LINE: PORSCHE BOXSTER 986-987 (1996-2012)

Come back soon to find out the common issues and problems with this Porsche are, and there are a few!

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ANDREW PAGE SECURES EXTRA FINANCE

ANDREW PAGE SECURES EXTRA FINANCE

andrew page autoparts peoplePSFactor chain Andrew Page Group has secured further funding from its provider PNC Business Credit.

This comes a year after the group agreed a refinancing deal with PNC and the new funding will see its original facility level increase from £40m to £50m to support its growth plans.

In a statement issued by the company, Ed Brookes, CFO of Andrew Page commented: “The new £50m funding package provides additional capital to allow the business to accelerate its strategic growth plans and maintain its momentum.  PNC are a terrific partner to have on board through this exciting stage of our development.”

Jim Sumner, Chairman of Andrew Page said: “Our expansion plans and the confidence of our financial backers is a reflection of the wide experience and hard work undertaken by the management team. The continued focus on the streamlining and efficiencies of our business is paying dividends and we’re at the top of our game.”

The firm, which is backed by private equity houses Endless and Phoenix Equity Partners, operates 108 branches across the UK and at the start of last year stated its intention of expanding through a combination of acquisitions, new branch openings and investing in its on-line presence.

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