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Alliance Continues to Profit

In its recently published third quarter results, Alliance Tire has announced a net profit of $102,000 for the third quarter of 2004, compared with a net loss of $1.66 million in the corresponding period last year. Although this period represents the company’s third successive profitable quarter, quarter-on-quarter figures show a slight drop in growth.

Compared to 2003, Alliance reports that sales grew 26.3 per cent to $29.7 million. In the second quarter Alliance’s sales totalled $31.6 million. The company’s export figures continue to show impressive levels of growth. Alliance’s export sales grew by 37 per cent to $21.8 million compared with the same time last year. Agricultural, multi-purpose and industrial tyres for export make up approximately 75 per cent of Alliance’s export. Local market sales increased 4 per cent to $7.9 million, a figure that represents 27 per cent of total sales.

In the first nine months of 2004, the tyre manufacturer reports that net profits grew to $3.7 million compared with losses of $8.3 million in the corresponding quarter of last year. In the same period, sales increased to $93.4m, an increase of 29 per cent compared with the corresponding period in 2003.

Alliance chairman Isia Tchetchik said the third quarter growth was hindered by the port strike that prevented sales of $1.9 million. Despite this, he said, the company managed to achieve positive results that prove that Alliance is experiencing an improvement in business performance.

Joseph Anglister, Alliance’s president, said the break-through in sales to Central and South America continued in the third quarter, in particularly in Brazil where sales doubled to $5.1 million in the first nine months of the year. The company president also stated that Alliance continues to implement efficiency measures, something that likely to prove useful in the face of rising raw material costs. According to Mr Anglister, production costs per ton of output fell 2.5 per cent to $2.38 per ton, while production increased 19.4 per cent, to 27,527 in the third quarter of 2004.

29th November 2004/by Tyrepress Editors

Onkar S Kanwar Becomes New FICCI President

Onkar S Kanwar has been named as president-elect of the Federation of Indian Chambers of Commerce and Industry (FICCI). Mr Kanwar, chairman and managing director of Apollo Tyres, will take over from current president YK Modi at the conclusion of the 77th annual session next month. Closely associated with leading national and international industry chambers and other business organisations, Kanwar is also past president of the International Chamber of Commerce – India (ICCI). As head of Apollo Tyres, Kanwar recently forged alliance with Michelin, the world’s number one tyre manufacturer with operations in over 170 countries.

23rd November 2004/by Tyrepress Editors

Alliance reports Growth

Alliance has released its second quarter financial results, showing a second straight profitable quarter after a succession of 11 negative quarters. Net income amounted to $1.2 million, compared to a $1.1 million net loss in the parallel quarter of 2003. The figures also showed a 30 per cent growth in sales in the first half of 2004 to $ 63.7 million.

22nd September 2004/by Tyrepress Editors

Carbon Black Businesses Discuss Joint Venture

Mitsubishi Chemical Corporation and Tokai Carbon Co., Ltd. are discussing the details of a possible joint venture.

22nd July 2004/by Tyrepress Editors

Eberspächer Cooperate with Calsonickansei

German exhaust specialists, Eberspächer, and Japanese automotive component supplier, Calsonickansei, are to “intensify their collaboration” by setting up a marketing joint venture in Paris. The company will operate under the name of ACE Alliance CalsonicKansei Eberspächer S.A.S.

9th July 2004/by Tyrepress Editors

Continental And JK Tyre Review Options

Continental and JK Industries are in talks to explore how the two companies can strengthen their existing alliance. Among the options is that of Continental investing in a joint venture for the Indian market. Continental board member Hans-Joachim Nikolin is quoted in the Indian press as saying that the discussions are taking place “at levels up to the most senior in both companies.” He also adds that radialisation is increasing in the Indian tyre market and “the technological capabilities of Continental were now applicable to the Indian situation.”

27th April 2004/by Tyrepress Editors

Good Figures From Alliance

Alliance Tire has reported a 6.6 per cent rise in turnover in 2003 to US$99.7 million. Gross profits were $20.4 million (2002: $3.1 million) while the operating profit was $1.23 million, following three years of losses, including a deficit of $14.9 million last year. Alliance’s net loss in 2003 was $13.1 million, which is half the 2002 figure and largely attributable to currency differentials. President Joseph Anglister said that the company had achieved a major break-through in South America, with sales up 158 per cent.

13th April 2004/by Tyrepress Editors

Indian tyre industry growing

The Indian tyre industry is expected to register impressive growth coming from a combination of both organic and inorganic development, according to credit rating agency ICRA. Consolidation of the Indian tyre industry is expected to continue through mergers of existing players. While organic growth would come from raising efficiency levels, inorganic growth would be achieved through alliance and mergers and acquisitions, it said. To leverage growth, ICRA predicted that tyre makers would expand their dealerships and explore tie-ups among themselves to increase customer bases. Outsourcing would also play a major role as many companies have entered into offtake agreements with tyre producers in South-East Asia, Eastern Europe and Latin America.

25th March 2004/by Tyrepress Editors

Alliance Tire: The agricultural specialist

Alliance Tire has some unusual barriers to overcome in its search for continued success. However the Israeli tyre manufacturer is focussed and determined to grow.

Most tyre manufacturers have the ability, in today’s global market, to sell anywhere in the world, certainly to their neighbours. Alliance is denied that opportunity by being an Israeli company. Yet despite being perhaps a key industry in Israel, Alliance still has to operate on a free market basis. Denied access to the obvious Middle East market, for reasons we may not always comprehend but certainly cannot have failed to have noticed over the past 50 plus years, Alliance has to work doubly hard to gain market share. That takes determination. It takes loyalty. There is no possibility of failure, therefore everyone must work to win. To understand that drive is to understand why Alliance Tire, a small, single plant manufacturer in a beleaguered state, has the potential not only to survive but to take a leading role in its chosen market sectors.

Alliance has long taken the view that developing niche products for specialist markets is the way to proceed. It has therefore developed its own technology and products to gain respect and a leading market share in its chosen agricultural sector. The requirement to develop and refine placed a burden on the company loans. However, with the appointment of Joseph Anglister as General Manager there was a turnaround in fortunes at Alliance and once more the company was back in operating profit. The turnaround came as the result of efficiencies created by the investment allied to a reduction in the workforce. Today the Alliance workforce has vastly improved its efficiency in production. However, the investment continues and next year will see the installation of a new state of the art calendaring line for inner liners.

28th January 2004/by Tyrepress Editors

ThyssenKrupp Deepens Ties With Alfred Herbert

ThyssenKrupp Elastomertechnik GmbH, the world’s largest manufacturer of tyre machinery and a part of the Euro 35 billion ThyssenKrupp group, has deepened its alliance with the RS Lodha-managed Alfred Herbert India Ltd by signing an additional technical collaboration agreement.

2nd December 2003/by Tyrepress Editors

A marriage made in heaven? (update)

A short time before the announcement of the joint venture between Michelin and Apollo Tyres, the Indian company broke off its alliance with Continental. An Apollo spokesman said that the arrangement with Conti “was only a technical tie-up. As far as we are concerned this (the jv with Michelin) is a real marriage.” Michelin paid around $28 million for a 14.9 per cent stake in Apollo and the French company owns 51 per cent of the joint venture company, which is called Michelin Apollo Tire. MAT plans to invest $70 million over the next four years in building a manufacturing plant in India.

18th November 2003/by Tyrepress Editors

Metro Tyres Predicts Turnover Growth

Indian two-wheeler tyre producer Metro Tyres predicts a 10 per cent growth in turnover this fiscal year to 3.3 billion Rupees (US$72 million) and five billion Rupees ($109.9 m) in the next three years, on the back of its technical alliance with Continental AG. Metro will also invest 200 million Rupees (44.4 m) to double production at its factory in Ludhiana to a monthly capacity of 100,000 tyres and tubes. The Indian domestic two-wheeler tyre market is estimated to be worth 10 billion Rupees ($219.5 million) annually.

2nd October 2003/by Tyrepress Editors

Bandag Second Quarter Results

Bandag, Incorporated has reported consolidated net income of $8.7 million, or $0.45 per diluted share for second quarter 2003, compared to second quarter 2002 consolidated net income of $11.7 million, or $0.57 per diluted share, a decrease of 26% and 21% for consolidated net income and diluted earnings per share, respectively. Second quarter 2003 results were reduced by approximately $2.2 million due to net foreign exchange losses. Second quarter 2003 results were also reduced by approximately $1.5 million in net charges related to Bandag’s distribution subsidiary, Tire Distribution Systems, Inc. (TDS), for store divestitures and a real estate impairment charge. Consolidated net sales for second quarter 2003 were $204.1 million, a decline of approximately 12%, compared to consolidated net sales of $231.1 million in the prior year period.

21st July 2003/by Tyrepress Editors

Toyota Alliance Boosts Production In China

Toyota is in talks about forming an alliance with Guangzhou Automobile to manufacture vehicles in China. The Japanese company says that it is also in talks with other, unnamed, local manufacturers. Toyota has been slow to take advantage of the growing Chinese market and the latest moves are seen as an attempt to catch up with its rivals.

4th July 2003/by Tyrepress Editors

New President At Alliance

Alliance Tire has appointed Yossi Anglister (56) as company President. He is from outside the tyre industry and is an industrial engineer with a reputation as a turnaround specialist. He describes the past few years as “challenging”, both for the tyre industry and the Israeli economy, but is confident that the next few years will see significant growth for Alliance.

6th May 2003/by Tyrepress Editors