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New Malaysia factory to meet Toyo's Asian demand

Construction on Toyo Tire & Rubber’s new factory in Malaysia is expected to begin this year and production in 2013. Japanese media organisation Nikkei reports the tyre maker will invest around 20 billion yen (£153 million) in a six million passenger car tyre per annum plant that will primarily meet demand in China, India and other emerging Asian markets. According to Nikkei the new plant, which complements the newly-acquired three million tyre per year Silverstone plant, will make Malaysia Toyo’s main Asian centre of production outside of Japan. By 2015, will produce 12.5 million units in Asia each year, Nikkei adds.

17th May 2011/by Tyrepress Editors

Kumho expands football sponsorship with Germany’s HSV

Manchester United sponsor Kumho Tyres has extended its European football activities by signing on as an exclusive partner to German club Hamburger SV. The Hamburg-based team, which is currently ranked seventh in Germany’s premier Bundesliga championship, welcomes Kumho as sponsor starting in the 2011/12 season. As part of the two-year contract between Kumho and HSV, the tyre maker’s advertisements will be displayed in the stadium and in other relevant media, including at press conferences, on game entry tickets, official teams photos and on the HSV website.

13th May 2011/by Tyrepress Editors

‘Ambitious growth strategy’ paying off as Lanxess profits jump 60% in Q1

The year has started well for Lanxess. After achieving what it calls its “best-ever quarterly result in the first quarter,” the German specialty chemical company says it is on track to achieve EBITA pre-exceptionals in excess of one billion euros in 2011; during the first quarter its EBITA pre-exceptionals rose 38 per cent year-on-year to 322 million euros, with double-digit growth recorded in all its segments and regions. The company’s sales increased 29 per cent year-on-year in the three months to March 31, 2011 due to higher volumes and price increases that helped offset rising raw material costs. EBITDA margin pre exceptionals rose to 15.5 per cent in the first quarter from 14.4 per cent a year earlier and net profit increased 60 per cent year-on-year to 166 million euros.

12th May 2011/by Tyrepress Editors

Reports: Thai tyre and rubber industry slowing after Japan earthquake

Thai news reports are warning that “over 30,000 workers in the rubber-based industry have been affected” following the earthquake/tsunami disaster that hit Japan recently. Quoting figures issued by the Federation of Thai Industries (FTI), the reports cited FTI Rubber Based Industry Club President Dr Chayo Trangadisaikul as saying: “15 domestic car tyre manufacturers have reduced production capacity by 30 – 40 per cent and cut overtime operations; thereby, over 30,000 workers in the industry are affected.”

10th May 2011/by Tyrepress Editors

JK Tyre aiming for annual 15-20% overseas growth

Speaking to India’s Business Standard newspaper, JK Tyre & Industries vice-chairman and managing director Raghupati Singhania has shared that the tyre maker is looking at expanding its international presence by 15 to 20 per cent every year. Currently JK Tyre sells Rs 8 billion (£108.5 million) worth of goods outside of India, some 44 per cent of which is produced at international sites. These overseas facilities include the Tornel plant in Mexico, which the Indian manufacturer acquired in 2008, and partner factories in China, Vietnam and Sri Lanka.

10th May 2011/by Tyrepress Editors

Happy 70th birthday, Hankook Tire

Employees at Hankook Tire’s headquarters in Seoul, Korea have celebrated the 70th anniversary of the tyre maker’s founding with drinks and a cake-cutting ceremony. While staff applauded the many achievements in Hankook’s last seven decades, the company is also using the milestone as an opportunity to look to the future; Hankook says the occasion calls for “commitment to an incessant passion and readiness for challenges in the next 70 years.”

9th May 2011/by Tyrepress Editors

Government acclaim for Yokohama inner liner development

Two Yokohama Rubber employees have been acknowledged by Japan’s government for their work on developing tyre inner liner technology. Yuichi Hara and Yoshiaki Hashimura, both research and development managers at Yokohama, received “Commendations for Science and Technology” from Japan’s Ministry of Education, Culture, Sports, Science. The awards were given in the development category for developing a tyre inner liner that possesses a balance between the low air permeability of resin and the flexibility offered by rubber, thereby substantially reducing air leakage despite being only 20 per cent as thick as a conventional liner. The product developed by the pair and their research teams was released in 2009 under the name Advanced inner liner.

9th May 2011/by Tyrepress Editors

Zafco wins Tyrexpo Asia gold award

Dubai-based Zafco, the only Dubai based company to exhibit at the Tyrexpo Asia 2011 held in Singapore last month, won the exhibition’s “gold award” for the most innovative stand design. Zafco’s premium brand Zeetex also participated, with all the categories of tyres including passenger, truck and bus. Visitors to the Zafco and Zeetex stands experienced interactive discussions, activities, multimedia advertisements and tyre patterns on display.

6th May 2011/by Tyrepress Editors

Pirelli picks up Chinese ‘best marketing’ award

Pirelli reports it recently won the “best marketing” category of the 2011 China Auto Aftersales Summit Forum awards – an award the tyre maker describes as “one of the most influential awards in the auto industry.” In total, five categories of award were announced at the forum, which is hosted by the China Automobile Manufacturers Association, China Automotive Engineers Society, China International Trade Committee Automotive Branch, China Automotive Technology and Research Center and Motor Trend magazine.

4th May 2011/by Tyrepress Editors

Yokohama reports Japan disaster relief activities

Giving an update on its assistance to relief efforts following the Japan earthquake and tsunami, Yokohama Rubber reports that as of April 28 Yokohama group companies and their employees had donated a total of approximately 88,500,000 yen (US$1,100,000) to the relief effort. That total includes donations of 61,700,000 yen ($760,000) by Yokohama group companies and their employees in Japan, including a 50,000,000 yen ($610,000) corporate donation by the parent company, and 26,800,000 yen ($330,000) by group companies and their employees in other nations. The companies and employees made their contributions mainly through the Red Cross societies in their nations.

2nd May 2011/by Tyrepress Editors

Conti on track for 10% sales growth in 2011

The first quarter of 2011 will form a “solid foundation” for Continental Corporation’s year as a whole, the tyre and automotive component supplier reported at its annual shareholders’ meeting. The complete report for the first quarter won’t be released until May 5, however at the April 28 event, Continental reported a 20+ per cent year-on-year sales increase during the first three months to more than 7.3 billion euros. EBIT, at nearly 634 million euros, was around 140 million euros higher than in the first quarter of 2010.

29th April 2011/by Tyrepress Editors

Nankang employees contribute to Japan disaster aid

Taiwan based tyre maker Nankang Rubber Tire Corp. reports its management and employees raised two million yen (£15,000) for the Japan Red Cross in order to aid victims of the recent earthquake and tsunami. “After the March 11 earthquake hit, our eyes, hearts and browser windows have been trained on Japan,” Nankang commented in a press statement. “As one of global citizens, we just do our responsibility to express our deepest condolences to the suffered people.”

27th April 2011/by Tyrepress Editors

Queen’s Award for Enterprise presented to Dunlop Aircraft Tyre

Dunlop Aircraft Tyres has been honoured with the Queen’s Award for Enterprise in the international trade category, following six consecutive years of growth in its international sales. Based in Birmingham, and with a rich history spanning over 100 years DATL’s chairman Ian Edmondson expressed the company’s satisfaction with the reception of the prestigious award: “We are delighted that our achievements have been recognised with a Queen’s Award for Enterprise. It is a great honour for both the company and the people that work here.”

21st April 2011/by Tyrepress Editors

Al-Dobowi opens 200 million dirham battery plant

Eternity Technologies FZ LLC plant, owned by the Al Dobowi Group, has been launched with an investment of 200 million dirhams ($54.6million). According to the company, it is the Gulf region’s largest industrial battery plant and will design and develop batteries for use in electric fork lift trucks, industrial cleaning machines, access platforms and personnel transport. The plant will be situated in the Ras Al Khaimah Investment Authority (RAKIA) Industrial Park in Al Jazeera Al Hamra and will have the capacity to produce one million 2-volt cells. The company plans to export 85 per cent of its output to global markets including US, Europe and Asia, apart from servicing the UAE and GCC countries.

21st April 2011/by Tyrepress Editors

Hankook sales surged 16.3% from Q1 2010 to 1.4 trillion won on European growth

Hankook Tire announced the highest quarterly global sales on record for the first quarter of 2011 with turnover totalling 1.4 trillion Korean won, a 16.3 per cent year-on-year increase. Hankook Tire’s first quarter operating profit for 2011 amounted to 179 billion won. Operating profit to sales ratio was 12.4 per cent, up from 6.9 per cent in the fourth quarter of 2010.

21st April 2011/by Tyrepress Editors