Toyo Exhibits at “Auto Shanghai”
Toyo Tire and Rubber Co and president: Yoshio Kataoka are exhibiting the company’s products at the seven-day “Auto Shanghai 2005” at the Shanghai New International Expo Centre. Toyo say it will use this show to highlight its Proxes series, including the Proxes CT01, T1R and S/T tyres. Additionally, Toyo Tire says it plans to stimulate imaginations at the show with forwarding thinking products including the company’s Duraflat ‘run-flat’ product, along with automotive anti-vibration rubber and the Active Control Mount. In addition Toyo Tire representatives have said that the company sees the exhibition as an important opportunity to boost its brand image in the Chinese market.
Continue ReadingCheap Imports and High Costs Forces Indian Tyre Firms to Downsize
(India/Rubber Asia) Cheap imports from China and to a lesser extent from Thailand and South Korea, coupled with rising raw material costs are posing a serious challenge to the Indian tyre industry, Apollo Tyres chief operating officer Mr Neeraj Kanwar has said.
Continue ReadingTread Rubber Shipments to Grow This Year: RMA
(Akron/Tire Review) The Rubber Manufacturers Association’s (RMA) Tread Rubber Market Analysis Committee has reported that shipments of tread rubber will grow in 2005 to represent approximately 17 million retreaded tyres in the US. This will be the third consecutive year that shipments have increased, the committee noted. “Strong demand for commercial tyres will result in a 2.7 per cent increase in tread rubber shipments for the year,” the RMA also said. “This is nearly double the 1.5 per cent growth seen in 2004 shipments.” Growth will continue through 2007 at an annual rate of 1.5 per cent, the association forecasted.
Continue ReadingAutomechanika Asia ‘A Success’
Feedback from the fourth Automechanika Asia trade fair, held in Kuala Lumpur in early April, has been voted a success by visitors and exhibitors. There were 126 exhibitors from 17 countries (Australia, France, Germany, Hong Kong, India, Iran, Italy, Korea, Malaysia, Netherlands, Philippines, PR China, Singapore, Taiwan, Thailand, UK and USA).
Continue ReadingJP Morgan Analysts Up Cooper’s Rating
(Akron/Tire Review) JP Morgan analysts have upped their estimates for Cooper Tire & Rubber Co and upgraded its rating to “neutral.” The analysts said Cooper is benefiting from improved tyre pricing in the US and that its first-quarter results were in line with estimates. However, the company’s share price has depreciated by 20 per cent year to date, the analysts noted. Cooper’s EPS estimates for 2005 and 2006 were increased from $0.33 to $0.37 and from $0.50 to $0.70, respectively.
Continue ReadingYokohama Launches New European Subsidiary
At the beginning of April, Yokohama Rubber Co, made its Europe Office in Dusseldorf, Germany, a subsidiary called Yokohama Europe GmbH. Yokohama Europe will oversee Yokohama’s European marketing and sales strategies. According to the company, the move is part of efforts to strengthen Yokohama’s marketing strategy by more closely managing local operations. The new company will help reinforce sales by concluding comprehensive contracts with leading store chains around Europe and by accelerating original equipment marketing to European automakers. Yokohama now has sales companies in 10 countries in Europe - in the UK, Italy, Switzerland, Sweden, Germany, Austria, Denmark, Belgium, Spain, and Russia.
Continue ReadingNew Racex Marketing Material
Racex, the supplier of exterior and interior styling accessories for cars, has launched a range of updated marketing material.
Continue ReadingContract Negotiations Between BFNAT and USWA Resume
(Akron/Tire Review) 23 April will mark the second year of an expired labour contract covering some 1,440 workers represented by the United Steelworkers of America (USWA) Local 310 at a Bridgestone/Firestone North American Tire (BFNAT) agricultural tyre plant near Des Moines, Iowa. Talks resumed this week in St. Louis to replace the old contract, which, in addition to covering the Des Moines plant, also covers about 5,000 other workers at other plants throughout the US.
Continue ReadingCicero Appointed New Denman Tire CEO
(Akron/Tire Review) Emanuele E (Manny) Cicero has been named president and CEO of Denman Tire Corp., effective 1 May, Denman Tire has announced. Cicero replaces Charles R.Wright, who is retiring.
Continue ReadingKumho Announces Price Increase
(Akron/Tire Review) Kumho Tire USA plans to increase prices on passenger, light truck and commercial truck tyres from the first of June. Depending on the type of tyre, prices will increase up to by up 8 per cent, according to the manufacturer. Continuing price increases for raw materials and rising shipping costs were the reasons cited by David Hudrlik, vice president and director of sales at Kumho. The last time Kumho raised prices was 1 October 2004.
Continue ReadingYokohama Establishes Sales Company in Russia
Yokohama Rubber Co has established a tyre sales subsidiary in Russia on 1 April to reinforce local marketing. The Moscow based company is called Yokohama Russia L.L.C and operations will commence in late April. The new company is a joint venture between Yokohama and Itochu Corporation (with 85.1 and 14.9 per cent shares respectively).
Continue ReadingBridgestone Breaks Ground on Mexican BIRD Plant
(Akron/Tire Review) Bridgestone executives along with members of the Mexican government gathered in Monterrey, Nuevo Leon, Mexico, to celebrate breaking ground for the company’s new BIRD based tyre plant. Representatives from Bridgestone Americas Holding Inc. (BAH), Bridgestone/Firestone North American Tire (BFNAT) and Bridgestone/Firestone Mexico, SA. de CV (BFMX) were all present.
Continue ReadingMichelin to Raise Prices on Passenger, LT Tires in July
(Akron/Tire Review) Michelin North America (MNA) has announced price increases affecting passenger and light truck tyres. OE and replacement tyre prices for Michelin, BFGoodrich, Uniroyal and private and associate brands sold in Canada, Mexico and the US will increase by up to 8 per cent, the tyre maker said. The increases are effective in July and result from “continuing increases in raw material costs,” according to MNA.
Continue ReadingCooper Feels Effects of Arkansas Strike
Cooper has reported a sharp drop in profits as it feels the effect of the month long strike at its Arkansas plant. Publishing its first quarter results the company said is made $5.2 million or 7 cents per share for the period ended 31 March, compared with $24.3 million (32 cents per share) the year before.
Continue ReadingKumho Expands Presence in Chinese Market
(Akron/Tire Review) Kumho Tire Co has completed the expansion of its Nanjing, China tyre plant, more than doubling its annual production in China. The Nanjing plant, along with a new Kumho tyre factory in Tianjin, will result in an expected annual production capacity of 18 million tyres a year by 2007, according to Kumho. The Nanjing plant currently produces 5 million tyres a year, and the expansion will boost annual capacity to 12 million tires. Kumho also said it was considering building a third plant in China.
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