Asia
(Akron/Tire Review – Korean Times) South Korea’s two tyre giants, Hankook and Kumho, are leaving huge marks on China’s roads.
Hankook, Korea’s leading tyremaker, has been a dominant player since 2003 in China. Its market share reached 25% last year. That means that one out of every four saloons in the world’s fastest growing economy run on Hankook tyres.
(Rubber Asia, Kerala, India) Rubber products are important to automobiles because they perform certain key functions better than any other known materials – functions that cannot be done by any material other than elastomers.
US based RubberNetwork, a consortium of the companies participating in the global tyre and rubber industry, and Brazil based Webb Negocios, a company specialising in consulting, ebusiness and outsourcing Company, announce the formation of a jointly owned enterprise, RubberNetwork-Webb. The newly constituted company builds on a five-year commercial relationship between RubberNetwork and Webb and draws on the strengths of both companies. The venture will offer a range of Supply Chain services aimed at reducing costs and improving efficiency to companies in the community of the tyre and rubber industry.
MRF Ltd. has been India’s most important tyre manufacturer since the industry’s earliest days in the subcontinent. The company was founded in the city of Chennai, previously known as Madras – hence the abbreviation MRF, which is short for “Madras Rubber Factory”. Today the manufacturer can proudly look back at its 60 years of history, and also show pride in its current annual turnover of 42.5 billion rupees (£486 million). According to analysts, MRF today holds a 24 per cent slice of the Indian tyre market and is also very active in export business as well as motorsports. Company sources state that MRF currently exports its products to 75 countries.
On January 31 Columbian Chemicals (Weifang) Holdings S.àr.l., completed the acquisition of Shandong Haihua Carbon Black Chemical Co., Ltd. located in the city of Weifang, in China’s Shandong province. This purchase represents Columbian’s first entry into the Chinese carbon black market.
(Rubber Asia, Kerala, India) The strides made by Mardec RK Latex Group ever since its humble beginning in the 1940s are a typical example of how passion and commitment to quality can take a business to great heights. The group, which started off with large rubber estates in Kerala, the home of Indian rubber, expanded into creamed and centrifuged latex in the 80s and early 90s to emerge as one of the largest processors of these products in India.
The Goodyear Tire & Rubber Company has announced the appointment of Judith Swales to the position of managing director and chief executive officer of its Australian-based South Pacific Tyres (SPT) business. Swales replaces Joe Copeland, who has been named vice president of Goodyear’s Global Off-Highway business based in Akron.
The fifth China International Tire Expo, (CITExpo) is being held in Shanghai this September. Since the first exhibition was held in 2003 the CITExpo has grown rapidly and strengthened its position as one of Asia’s leading tyre events. The exhibition’s organisers, Reliable International Exhibition Services, report that this year’s upcoming event shows every sign of being another record breaking year. From the exhibition’s inception until 2006 the CITExpo was held solely in the west wing of the Shanghai Everbright Convention & Exhibition Center in the city centre, but this year the increased number of exhibitors has meant that the centre’s east hall has also been needed.
(India/Rubber Asia) India’s largest manufacturer of steel cord reinforced converyor belts, Phoenix Yule, has announced plans to expand its capacity by as much as 60 per cent. Phoenix Yule is the company created by the privatisation of the conveyor belts division of the public sector Andrew Yule. According to Rubber Asia, currently 74 per cent of its 460 million rupee (£5.26 million) paid-up equity capital is held by Phoenix of Germany, while the rest is with the Government.
(Akron/Tire Review) At the 2006 SEMA Show, a panel of international journalists presented Firestone Industrial Products Co. (FSIP) with an International New Products Award for its new Air-Rite digital air command and Red Label air springs.
Pricing of GITI Tire’s $200 million secured note concluded a day late on 19 January in Hong Kong. The bond will list in Singapore. Apart from helping its parent, the proceeds are expected to be used for capital expenditure, general corporate purposes and possible acquisition of other tyre businesses.
According to automotive industry analysts, during 2006 China overtook Japan to become the world’s second largest market for cars. During 2006 7.2 million vehicles were sold in China, a 25.1 per cent increase on the previous year’s sales. Japan, now ranked number three, sold a mere 5.7 million vehicles in comparison.
Indian tyremaker Apollo Tyres has reaffirmed its commitment to the development of professional tennis in its homeland by signing up a doubles team to compete in the 2007 ATP and Grand Slam Tours. The two players are top Indian player Mahesh Bhupathi and the Czech Republic’s Radek Stepanek.
According to a Japanese survey, Michelin ranks number one when it comes to customer satisfaction with the tyres their new compact, passenger and 4×4 vehicles come fitted with. Customer satisfaction research specialists J.D. Power Asia Pacific conducted a study measuring customer satisfaction with the OE tyres on four segments of new vehicle, checking how well they fared in terms of appearance, handling/traction, ride/quietness and durability/reliability.
As part of its plans to expand into east Asia, Turkish corporation Sabanci has agreed to purchase a controlling stake in the Indonesian tyre-yarn firm PT Branta Mulia Tbk.
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.
