Asia
At its February 3 extraordinary meeting, the Lanxess AG Supervisory Board agreed to revoke the contract of chief financial officer and Board of Management member Matthias Zachert. This measure was taken at Zachert’s request, Lanxess reports. The 43-year old has served on the Lanxess Board of Management since 2004.
LDL Technology is a privately owned company, specialising in development, manufacturing and marketing worldwide of wireless embedded electronic systems. According to company literature, the firm’s core technologies include Tyre Pressure Monitoring Systems (TPMS), Vehicle Immobilization (IMMO), Keyless Entry & Start system (KESS) and body control units.
Hankook Tire made 585.8 billion Korean won (383.3 million euro) in financial year 2010 operating profit, the company has announced. Helping Hankook achieve these figures was a record-breaking global sales total of 5.4 trillion won (3.5 billion euro), which fulfilled its aggressive global sales target to exceed 5.1 trillion won and recording an 11.5 per cent year-on-year increase. The company’s 2010 operating profit represented a 6.7 per cent increase. Hankook also said it sold more tyres than ever before to the European markets produced at its new European plant in Hungary.
Capacity at Yokohama’s production site in the Philippines is to increase from seven million to ten million passenger car tyres per annum as a result of expansion work being carried out there in the next three years. This first phase expansion at the Yokohama Tire Philippines site involves the construction of a new tyre plant to complement the existing 165,000 square metre facility. Construction work will get underway after a tenancy agreement is signed in February and initial production is expected to commence in 2013, with full operational capacity reached the following year. A total of 20 billion yen (₤153.2 million) is being invested in the first-phase expansion; a further 30 billion yen is earmarked for the second-phase expansion work, which will further increase Yokohama Tire Philippines’ annual capacity to 17 million tyres by 2017.
Hankook Tire's Asian division has announced improved 2010 earnings year-on-year with its net profit reaching 424.8 billion won ($381 million) last year, up 21.1 per cent from 350.8 billion won a year earlier. The increase has come on the back of “brisk sales in both domestic and overseas markets”. Sales jumped 19.3 per cent to 3.35 trillion won, and operating profit rose 5.5 per cent to 367.5 billion won.
Tyrexpo Asia 2011 organiser ECI International has announced that the event’s eighth staging in Singapore will be opened officially by Dr Stephen Evans, secretary general of the International Rubber Study Group (IRSG). The Singapore-based IRSG provides statistical data and analysis for all aspects of the rubber industry. In opening the show, Evans will follow in the footsteps of his predecessor at the IRSG, Dr Hidde Schmidt, who performed a similar role at the opening of Tyrexpo Asia in 2009. ECI says the show will be the largest in terms of exhibitor numbers in the 15-year history of the event when it opens its doors from 29-31 March, 2011.
Singapore’s Stamford Tyres has announced that it will use Tyrexpo Asia 2011 to promote its Firenza ST-05A range of V and W rated high performance passenger tyres. “The stand will include products from across our comprehensive range,” stated senior vice president (sales and marketing) Pat Berriman, “including truck and bus tyres plus our investment in new sports wheel technology will be a big attraction for wheel stockists as it offers something exciting and different in the sport wheels market.”
Pirelli has announced price increases for its entire tyre range in all European, Middle East, African and Asia-Pacific markets. These raw materials related price adjustments take effect on March 1 and will see passenger car, SUV and motorcycle tyre prices rise three per cent and the cost of light and heavy industrial tyres increase seven per cent.
China’s Hangzhou Zhongce Rubber has entered into a joint venture agreement with Thai Hua Rubber to establish a tyre production facility in Thailand’s Rayong Province. According to Bangkok based newspaper The Nation, the plant will be set up with a five billion baht (₤102.7 million) investment from the two parties; Hangzhou Zhongce holds an 85 per cent share in the joint venture, with the remainder belonging to the Thailand based rubber company.
While much attention has been focused on the amount of tyres being produced in China in general and the rapid growth of the most professional Chinese tyre manufacturers, the machinery companies that supply them have kept their similarly meteoric rise somewhat beneath the radar. But while the tyre mould and machinery making companies have managed to avoid the limelight so far, some market observers argue that their growing influence should not be ignored.
In the coming years, Lanxess subsidiary Rhein Chemie plans to expand its production of curing bladders for the tyre industry. These plans have been given a boost by its acquisition of Argentina based curing bladder and release agent manufacturer Darmex S.A. for an undisclosed sum. As a result of the acquisition, Lanxess reports that Rhein Chemie will become one of the “world’s leading providers of release agents for rubber products in a highly fragmented market.” Rhein Chemie will also acquire Darmex’s bladder technology in Latin America, a key production hub for leading tyre manufacturers. The release agents and bladders belonging to Darmex will be branded under Rhein Chemie brand name.
When financial analysts said that 2009 was a “banner year” for Cheng Shin Rubber Ind. Co., Ltd. in a report published back in May, the market watchers weren’t overstating the facts. But in 2010, when the 2009 results were made public, the Taiwan-based tyre manufacturer which is responsible for the Maxxis brand and Maxxis International companies, announced plans for two new factories, an international standard proving ground and some high profile OE contracts. It was also the year that saw the company move into 10th place in Tyres & Accessories’ annual ranking of tyre manufacturing companies. With all this in mind T&A recently visited Cheng Shin/Maxxis’ Kunshan tyre production plant near Shanghai, China and asked if 2010 was the real breakthrough for Maxxis? And if so what happens next?
Skinny is beautiful, at least according to a minority of motorcyclists in Asia – yet for these riders, beauty can also involve suffering. Singapore’s Straits Times newspaper brings word of a potentially dangerous trend, that of so-called “sotong tyres.” These tyres are thinner than regular motorcycle tyres and are said to be prized for their looks and promise of speed.
In 2011, Michelin will celebrate the tenth anniversary of Michelin Lifestyle, the company’s division dedicated to the development of licensed consumer products that promote the Michelin brand image. After a decade of operations the UK headquartered fully-owned Michelin subsidiary has seven regional offices around the world and over 75 licensee partners. In 2009, over 12.7 million Michelin licensed products were sold through 30,000 sales outlets in over 85 countries and Michelin was ranked 63 in the list of 125 top licensing companies compiled by the US based magazine ‘License!’
India’s Apollo Tyres has begun commercial vehicle tyre exports to neighbouring Bangladesh. Initial sales will focus on cross-ply tyres for heavy and light commercial vehicles and these products will be distributed through the Rahimafrooz Group, Bangladesh’s largest manufacturer and distributor of automotive and industrial batteries.
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