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NEWS EXTRA
Vulcan-Vulcap Further Expands into US Market
Gilles and his new team. Vulcan- Vulcap’s portfolio is a perfect complement to our family of equipment for tyre repair and retreading,” said Doug Conley, Shamrocks’ Vice-President.
The two companies will officiate their partnership at the upcoming 65th Annual Off-The- Road conference hosted by the Tire Industry Association in Palm Springs, California.
As part of its continuous expansion into the North American Market, tyre repair equipment specialists Vulcan- Vulcap
Industries has
1956, and with over 10,000 machines sold in North America alone, the company’s goal remains making the tyre repair process more efficient, profitable and safer for all the parties involved.
As a recognised distributor of tyre repair and retreading products, Shamrock Marketing
has been working with Vulcan-
Vulcap for several years already. “We are thrilled to have Shamrock, a long-time partner, adding Vulcan-Vulcap’s broad product offering into their
distribution channels”, said Gilles Wauthy, president of
Vulcan-Vulcap Industries. “This venture will ensure growth
into the US market as we combine the benefits of our products with the turn-key solutions and distribution expertise and services offered by Shamrock.”
“Vulcan-Vulcap has a proud history in the tyre industry, and we are excited to work with
Fraud Suit Brought Against Vacu-Lug’s Former Owners
announced the appointment of Shamrock Marketing as one of its distributors for the US market. Vulcan-Vulcap, headquartered in Terrebonne Quebec, Canada, has offered a range of high-quality section repair mould systems and vulcanisation equipment since
According to the legal news service Law360, a £7.2 million lawsuit has been brought by Grantham Capital, the owners of UK retreader Vacu- Lug, against 37 individuals, who Grantham accuses of fraudulently manipulating the financial records it used to base its offer to buy the company in 2018.
In its High Court claim Grantham asserts that Vacu-Lug’s directors and other shareholders artificially inflated its 2017 reported profits to misrepresent how much money the company had, knowing that Grantham would be relying on those accounts when it offered to buy the company.
The claim says that although Grantham was told the value of Vacu-Lug was £9 million as of July 31, 2018, the company in fact had
no value because of its low profit figure and declining performance. Grantham claims it should be able to rescind the acquisition deal and get back the £7.2 million it has paid so far, in addition to damages to cover the costs it claims it has incurred in reconstructing Vaculug’s financial records and identifying the alleged fraud.
The four key defendants in the case are John Langham, Alison Collins, Timothy Hercock and John Parsons, who were directors of Vacu-Lug. The remaining 33 defendants are warrantors to the draft share price agreement which lies at the heart of the suit.
At the time of writing, the defendants had yet to file a defence to the claim.
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