A new report suggests the Bangladesh tyre market will grow by 9 per cent compound annual growth rate between now and 2020 due to a rise in automobile sales, improvement in public infrastructure, and growth in purchasing power.
According to the recently released TechSci Research report, “Bangladesh Tyre Market Forecast & Opportunities, 2020’’, several global tyre giants have also expressed interest in making significant investments by setting up their manufacturing units in the country.
Australian facility a global support base for Bridgestone’s mining tyre business
An operations base opened by a Bridgestone Corporation subsidiary in Australia is said to be the first facility in the world to specialise in mining tyre business development and to offer comprehensive solution services related to off-the-road tyres for construction and mining vehicles, belts and hoses. Reporting that an opening ceremony has been held for the Bridgestone Institute Global Mining Solutions Pty. Limited centre, Bridgestone states that the facility will act as a global core base, offering support and services that aim to optimise mining tyre customer operations in two primary areas.
GRI (Global Rubber Industries), an industrial tyre manufacturer based in Sri Lanka, has announced plans to raise prices by between 8 per cent and 9.5 per cent. According to statement released by the company, the precise price increase depends on which country in the European market and is effective from 1 May 2015.
Apollo Tyres inaugurated its third Apollo Retread Zone (ARZ) in Mumbai, in the western part of India. Rajesh Dahiya, Group Head, Sales-APMEA (Asia Pacific, Middle East & Africa), Apollo Tyres Ltd inaugurated the outlet in Turbhe, Navi Mumbai. With the objective of providing quality retreading service to truck-bus customers and fleet owners, these branded outlets are equipped with most advanced retreading machines, high quality tread material and trained workers. The move demonstrates
Chinese tyre recycling plant to feed ‘SRI Compound’ demand
A plant for converting end of life tyre rubber into a compound suited for use in new tyres will be set up in China’s Fujian Province if the aims of a new Memorandum of Understanding are fully realised. The MoU signed between China Automobile Parts Holding Limited and Malaysia’s Sri Elastomers Sdn. Bhd. on 18 March formalises both parties’ intention to form an alliance for the commercialisation of SRI Compound. Plans call for the establishment of a joint operation in the city of Xiamen.
Sameer Africa Ltd., is planning to enter the Rwandan tyre market in the next two years, company executives told Bloomberg recently. At the same time, the company is said to be exploring the possibility of setting up a subsidiary in Nigeria. However, in light of ongoing share sale talks since last summer, this could be […]
Friends charged with insider trading on Apollo/Cooper deal
Two men who profited from inside information regarding Apollo Tyres’ plans to acquire Cooper Tire & Rubber in 2013 have been charged by the US Securities and Exchange Commission, and parallel criminal charges have also been filed by the US Attorney’s Office for the District of Massachusetts. The SEC is now attempting to recover more than US$1.1 million made through the illegal trading of Cooper Tire stock.
Yokohama promoting products, Chelsea sponsorship at Shanghai Motor Show
The presence of Yokohama Rubber at the upcoming Auto Shanghai 2015 show has been confirmed. The exhibition will take place between 20 and 29 April, and the Yokohama stand will feature tyres from the company’s Advan, BluEarth, Geolandar and Neova ranges, along with Yokohama’s ‘aerodynamic tyre’, which will be displayed in China for the first time.
As of 1 April, Joaquin Gonzalez Jr. has taken on the role of president at US tyre wholesaler Tire Group International. Prior to his appointment to this new role, Gonzalez served as the companys chief marketing officer. He joined TGI in 2006 as chief operating officer.
Nexen steps up to the plate for another year of baseball sponsorship
Another innings of Nexen Tire baseball sponsorship is about to begin: The tyre maker has renewed its partnership agreements with four Major League Baseball (MLB) teams in the US. It will thus continue its relationship with the LA Dodgers, Texas Rangers, Detroit Tigers and the LA Angels for the 2015 baseball season.
The latest generation Lexus RX was introduced at the New York International Auto Show this week, and Michelin says it will supply its Premier LTX as an original equipment fitment to North American market versions of the RX that ride on 18-inch (tyre size 235/65 R18) and 20-inch (tyre size 235/55R 20) rims.
Event Tyres launching three new products at Autopromotec
Netherlands-based Event Tyres BV has revealed plans to launch three new products at the Autopromotec exhibition in Bologna, Italy in May. The new products are called the Futurum, Semita and Potentum and are aimed at high performance, SUV and UHP orientated vehicles respectively. With Autopromotec less than two months away, Tyres & Accessories spoke with Eddy Oost, managing director of Event Tyre BV, in order to find out more about the products and the company’s broader expansion strategy.
Belshina factory idled due to apparent Asian import competition
The Belshina tyre plant is scheduled to re-start production today (1 April 2015) after production ceased on 26 March, according to the Belarusian Independent Trade Union various (BITU), in a move that is seen as indicative of wider economic concerns and is blamed on low-cost Asian tyre imports.
Artur Mikhalap, BITU chairman, commented: “The plant stopped completely, reason unknown to me, but the thinking is the same as in most enterprises - no market. Warehouses are filled up. According to my information the plant stopped only for five days, until April 1.
Aeolus gains French market boost with new distribution centre
France is a market of growing importance to Heuver Tyrewholesale, and the wholesaler says it has been particularly successful with the Aeolus truck tyre range there. Its distribution of these products will now speed up with the opening of Heuver Tyrewholesale’s own French distribution centre today. The new facility is based around 20 miles from Lyon, in the town of Quentin Fallavier, and the wholesaler says its incorporation will reduce transport costs for French customers and guarantee faster delivery. The company’s physical presence is viewed as part of Heuver’s vision for the French market.
Trelleborg acquires Australian agricultural tyre business
Sales of Trelleborg agricultural tyres in the Australian original equipment and replacement markets will benefit from Trelleborg Wheel Systems’ acquisition of Armstrong Tyres, an agricultural segment service and distribution company. Trelleborg has signed an agreement to purchase the Australian firm for an undisclosed sum, and the transaction is expected to be finalised in the second quarter of 2015.
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