In December Maxam Tire, along with its distributor Stamford Tyres, the company sponsored a golf tournament in Indonesia. The event – the Sorowako Golf Tournament was held over two days at the Sorowako Golf Club and, for the sponsors, Federico Fiorini of Maxam and Erwin Chua from Stamford Tyres International attended the tournament.
Yokohama India Pvt. Ltd. is exhibiting at Auto Expo 2014. The Motor Show runs from 5-11 February and is being held in Greater Noida, India. This year will mark Yokohama Indias fourth straight appearance at the expo since it first exhibited in 2008. Indias Auto Expo, purportedly the nations largest motor show, is held every other year.
Cooper Tire gives Chengshan option to buy, values CCT at US$435 million
Cooper Tire & Rubber Company has signed an agreement with Chengshan Group Company Ltd. According to the Findlay, Ohio-based tyremaker, the deal begins with the commitment that the Chinese joint venture Cooper Chengshan Tire (CCT) business will be independently valued and is said to position Cooper to resume regular financial reporting. Tyres & Accessories understands that the deal sets a floor value of at least US$435 million for the total company and perhaps more if the independent valuation comes in higher. Cooper’s share price rose 2.75 per cent (correct at time of publication) in response to the news.
What the rise of BRIC and MINT economies means for the tyre market
OK so the fact that China is the world’s largest tyre producer, the largest car maker, has the largest population and is likely to be the largest economy soon means that it is massively premature to write off the People’s Republic. Rapid growth and the huge scale of Brazil, Russia and India means these markets are still should be the focus of much attention. However, many international businesses have already latched onto this. So if everyone is competing for what they perceive as the same low-hanging fruit other opportunities could be going missing…or at least that is the question that is being raised in banking circles.
Hercules purchase “fits very well” into ATD growth plan
This month, American Tire Distributors (ATD) acquired Hercules Tire & Rubber for approximately US$310 million. Further details of the deal beyond the news reported this week have been published by US trade publication Tire Review, who yesterday spoke about the purchase with Ron Sinclair, senior vice-president of marketing at Hercules Tire & Rubber.
Aeolus showing entire car tyre range at Reifen 2014 in Essen
Aeolus Co. Ltd. reports that it will be showcasing its entire range of passenger car tyres, bolstered by truck and EM product lines at the forthcoming Reifen show, which will run 27-30 May 2014.
Report: Carbon black manufacturing is moving to China and India
Most carbon black manufacturing units in the western world, especially in North America and Europe, are being forced to shut down their operations because of the heavy competition they are facing from low cost Asian manufacturers. That’s the view of Tech Archival analysts, who said as much in a report entitled “China Carbon Black: Assessment, Opportunities & Forecast Up-to 2018”, which was published 24 January.
On 27 January, Point S Development, the Lyon, France-based international headquarters of the Point S network, launched a new version of its “eios” European online ordering system. The new version was developed after analysing member purchasing behaviour over a period of several months; Point S Development says the latest eios website is more intuitive than the previous version.
TREC: Michelin partners to extract alcohol and rubber from used tyres
Four French companies are partnering in a project to develop further applications for used tyres. Work is being carried out under the TREC project name and Michelin’s leadership; TREC is backed by a €51 million budget that extends over an eight year period and includes €13.3 million that Frances Agency for the Environment and Energy Management (ADEME) is providing to Michelin and one other partner, SDTech, as part of the French government’s “Investing in the Future” programme. The project covers all stages of research and development processes, from the definition of scientific concepts to pilot testing and validation on an industrial demonstrator. Michelin says at least one of the project’s outcomes is expected to tie in with the BioButterfly project that began last year.
Major US-based replacement tyre wholesaler American Tire Distributors (ATD) has acquired Hercules Tire & Rubber for approximately US$310 million. Details of the purchase – described as a merger – were submitted to the United States Securities and Exchange Commission on 24 January. Subject to closing conditions, the transaction is expected to be consummated by the end of January 2014.
Official opening held for Conti’s Sumter tyre plant
Continental Tire the Americas has thanked “everyone who came from near and far and braved the weather” to attend the opening of its Sumter factory in South Carolina. Despite the arrival of an Arctic cold front, on 28 January several hundred guests, including Germany’s Ambassador to the US and South Carolina Governor Nikki Haley, attended the facility’s official inauguration.
“The Tire Cologne” – details of show to rival “Reifen” announced
Between 29 May and 1 June 2018, a new exhibition aimed at the international tyre industry will take place in Germany. “The Tire Cologne”, as the show will be called, will be supported by current Reifen show main sponsor the BRV (the German Federal Association of the Tyre Trade and the Vulcanisers’ Skilled Trade), and the plan is to hold the event every two years. Regular Reifen exhibition visitors may already note that the dates for The Tire Cologne coincide with this year’s show week in Essen and, presumably, those planned for future events – a sign that the BRV and Koelnmesse consider the future Cologne trade exhibition the heir apparent to the European tyre show throne.
Following the publication of an informational poster last year on the subject of TPMS, the Scandinavian Tire & Rim Organization (STRO) subsequently issued a market newsletter questioning whether TPMS actually had to be working in order for cars to pass the Swedish national equivalent of the MOT. Writing in a newsletter published on 10 December 2013, the STRO explains that debate broke out at the end of last year and has yet to be resolved, but the gist of it is that there is a significant different of opinion (or perhaps) interpretation.
We’ll continue with ‘Reifen’ tyre show, confirms Messe Essen
As reported last week, the main sponsor of the Reifen tyre show, which is held every two years in Germany, will part ways with exhibition organiser Messe Essen after the 2016 show. Trade association and current Reifen ‘ideal sponsor’ the BRV intends to be involved in a new tyre trade fair located in Cologne. A letter sent by Messe Essen on 23 January and signed by management board chairman Oliver P. Kuhrt and director of trade fairs and exhibitions Annegret Appel, addresses the future parting of ways.
The latest market figures from Michelin were released on 23 January, and these show across the board year-on-year growth taking place within the European tyre market in December 2013. These results for Europe include the Russian and Turkish markets. Original equipment passenger car and light truck tyre sales were eight per cent up on December 2012, while replacement market tyre sales expanded by one per cent. Michelin noted that growing markets experienced a slight decline in Western Europe due to winter tyre sales. Heavy truck tyre market growth was even more pronounced and experienced what Michelin called a ‘technical rebound’. In December, the original equipment market was 26 per cent above where it was a year earlier and the replacement tyre market was 12 per cent higher.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
