Sabanci Purchases Indonesian Tyre Yarn Company
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.
Asia
Tag Archive for: Asia
Hankook Tire’s Growth is Based on Quality
Product NewsAn investment of about 500 million euros (£340 million) into a new tyre factory is a clear statement of the future direction of a company. Hankook’s decision to invest in Central Europe rather than the US, Korea or China shows what an important role the European market plays in Hankook’s future growth and development strategy. The new factory, which will be built in the Hungarian city of Dunaujvaros, not only provides the company with missing production capacity close to important sales markets and cheap but highly-skilled workforce, but also goes far beyond the obvious, Seung Hwa Suh, president of Hankook’s European headquarters in Germany, says in an interview with Tyres & Accessories. There are three keywords that Mr Suh frequently uses to describe Hankook’s strategy for Europe and the rest of the world: quality/innovation, service and brand awareness.
Old Friends and New Blood for Brityrex International
Product NewsWith six months to go before Brityrex International opens its doors, the exhibition is shaping up nicely, with over 67 per cent of floor space already sold, say the organisers, ECI International. And never before has the “International” part of the show’s name been more appropriate, as companies from all over the world will be making tracks for Manchester’s G-MEX Exhibition Centre next May. ECI International managing director Paul Farrant is delighted with progress to date, saying: “Past Brityrex exhibitions have always had a large number of exhibitors from the UK, and indeed the 2007 show is no exception, but we are seeing an increasing number of overseas companies taking space.”
Airtec Launches New Core Retracting Inflation Tool
Product NewsAirtec Corporation Asia announced the release of a new Core Retracting Inflation Tool. The new transparent body allows the user to see the retracted core, supposedly eliminating guesswork. Concurrently released last month at both Automechanika Frankfurt and Tyrexpo Africa, industry response has been overwhelming. According to Airtec’s GM for sales and marketing, MC Loh, the New Tool speeds up the inflation and deflation process of the tyres and the inflation time is cut by half, and as the core can be viewed through the transparent body, it’s easy to use.
Apollo Launches India’s first W-speed Rated Directional Tyre
Product NewsApollo Tyres has launched India’s first ever w-rated ultra-high performance directional tyre. Dubbed “Aspire”, the new tyre was unveiled by Dilip Chhabria of DC Design and Onkar S Kanwar, chairman and managing director, Apollo Tyres Ltd at the Autocar Performance in Mumbai. This latest offering from the Apollo stable comes close on the heels of the launch of the V-speed rated Apollo Acelere Sportz earlier this week. Meant for sporty car lovers, currently the 17-inch Aspire can be shod on the Mercedes E and C Class, Audi A6 and A4, Toyota Camry, Skoda Superb, Laura and Octavia and the Honda Accord. More sizes are going to be added in the coming months.
Deal Orientated Distributor – Zisser Tire
Product NewsZisser Tire Wholesale (ZTW) is an international specialist in the ultra high performance tyre market, offering most major brands as well as several exclusive lines. Zisser acts as both buyer and seller, with many of the newest and hard to find uhp sizes in stock and available for immediate shipment. Current markets served include Asia, Australia, Europe, Latin America, the Middle East, North and South America and over half a million high performance tyres are available for delivery.
Hankook Signs David Higgins for China Rally and Wales Rally GB
Product NewsHankook is set to join forces with former British Rally Champion David Higgins on the final round of the China Rally Championship and of the World Rally Championship. The Welsh-based Manxman worked with Hankook earlier this year when he drove to third overall in the Lurgan Park Rally and the parties say they are delighted to be reunited on these two key events. Hankook Motorsport manager Mike Patterson said that Hankook would be supporting David’s efforts in the China Rally this month, which is the final round of the China Championship and the Asia Pacific Championship, together with his entry in Wales Rally GB.
Tiger Wheels to Spin Off Tyre Outlets
Product NewsEarly in November Tiger Wheels announced restructuring plans, which would see the company divest its entire shareholding in South African retailer Tiger Wheel & Tyre and wholesale tyre businesses in the UK and SA. These businesses would list on the JSE (Johannesburg Stock Exchange) as Tiger Automotive Limited (TAL). The move would spell the end of the interdependent relationship between the company’s German-based subsidiary and aluminium wheel producer ATS Beteiligungsgesellschaft (ATS) and the after-market retail and wholesale operations.
Sales Up, Earnings Down at Yokohama Rubber
Product News(Akron/Tire Review) Yokohama Rubber Co. today reported that its most recent quarterly net sales increased 10.5 per cent over the same period last year, while its net income plummeted 74.8 per cent for the same period. Yokohama said it had quarterly sales of 222.4 billion yen, and that the sales increase was due to business growth in North America and Asia, including increased OE tyre business. Sales increased 11.5 per cent in Yokohama’s Tire Group to 162.5 billion yen. Operating income in the Tire Group declined 69.7 per cent, to 1.1 billion yen, reflecting the rising prices for natural rubber and other raw materials.
Goodyear Achieves Record Sales in Third Quarter
Product NewsThe Goodyear Tire & Rubber Company today reported third quarter sales of $5.3 billion, a record for any quarter and a 6 per cent improvement compared to the year-ago period excluding the impact of businesses divested in 2005, and despite the strategic decision to exit certain segments of the private label tyre business in North America.
Third quarter 2006 sales were driven by improved pricing and product mix, particularly in North American Tire, and the favourable impact of currency translation, estimated at $77 million. All five of the company’s tyre businesses achieved sales that were a record for any quarter.
Conti to Close Buffalo Automotive Plant
Product News(Akron/Tire Review) The Associated Press has reported that Continental AG’s Automotive Systems Group will close its Buffalo plant and move production to Asia – likely to the Philippines. The move, expected by 2009, will eliminate about 380 jobs. Continental spokesman Jim Gill told the AP that the move was due to the “hyper competitive” automotive industry. The plant, located in Elma, New York, produces engine and transmission control sensors.
Dunlop India Reopens After Inactivity
Product NewsDunlop India Limited’s plant in Sahagange, reportedly the oldest tyre plant in Asia, restarts production today (Tuesday 30 October) after years of inactivity. Dunlop’s Ambattur plant re-opened a little over a month ago. “We are dealing with old machines at Sahagange. The problem has been compounded by damage and thefts when the plant had be closed,” S K Paul, managing director of Dunlop India, told reporters at the opening of the Ambattur plant.
Gajah Tunggal “Asia’s Best Managed Company in Indonesia”
Product NewsEuromoney recently named PT Gajah Tunggal Tbk as “Asia’s Best Managed Company in Indonesia”. The award was presented to Christopher Chan, president and director of Gajah Tunggal by Neil Osborn, managing director Euromoney PLC as part of the Euromoney Awards event in Singapore on 18 September.
This recognition will serve to motivate the management of Gajah Tunggal to enhance its performance going forward, Christopher Chan remarked. “We take this Award not as an end but as an encouragement to continue our quest to rebuild Gajah Tunggal to be the blue chip company that it can and should. We also have to thank the Global Capital Market in general which contributed to our drive to bring a higher level of management to this company.”
Wholesaler Establishes Chinese Retail Business
NewsThe fact that Singaporean wholesaler, Stamford Tyres, operates both a service centre chain (“Mega Mart“) as well as a tyre retail chain (“Tyre Mart“) in South East Asia and China shows that the people’s republic is more than just a production base for company. Instead the Chinese market is increasingly become a focus for Stamford’s retail operations.
Sibur Launches First All-Steel TBR
Product NewsSibur Russian Tyres Holding (SRT) has launched the first all-steel truck radial tyre made in Russia. Tubeless truck radials (branded TyRex) were recently produced at one of the company’s tyre plants and are reportedly fitted to MAN, Volvo, Scania, MAZ, KamAZ vehicles. Sibur is planning to reach 370,000 units per year in all-steel truck tyre production. About 30 per cent will be exported. There are already said to be potential clients among leading distributors in Eastern and Western Europe. Increasing demand is expected from the Middle East and Northern Africa.
