Asia
Groupe Michelin is to invest $170 million in expanding production in Shenyang, China. The Asia Pulse news agency has reported that the group will invest this sum in the Shenyang Economic & Technology Development Zone, in order to add another 156,820 square metres to the land it already owns. A memorandum of understanding signed by Michelin and the zone explains that the company plans to use this land to increase its truck tyre production capacity.
In the UK the implementation of nitrogen inflation is still a relatively new topic. But when ATS Euromaster began a nitrogen inflation trial at 25 of its UK outlets earlier this year, it stirred interest about the subject within the market.
Following yesterday’s news of strike action at Apollo Tyres’ Vadodara factory the manufacturer has released more details of the circumstances surrounding the “illegal strike.”
The industrial action is being conducted by only one of the three unions representing workers at the plant that employs roughly 3000 people, an Apollo Tyres spokesperson told Tyres & Accessories. None of the manufacturer’s other factories are reported to be involved in the troubles.
(India/Rubber Asia) After almost 30 years of manufacturing, Apollo Tyres’ first production plant has produced more than 16 million units. The factory at Perambra in Kerala, south India, has grown into one of India’s leading tyre manufacturing sites with the capacity to role out 9 billion rupees (£130 million) worth of tyres each year, according to Onkar S Kanwar, chairman and managing director.
(India/Rubber Asia) There has been a flurry of new car launches in the Indian market thanks to the apparent growth of Indian consumer purchasing power. General Motors, the world’s largest car maker for example, has even come out with a new strategy specific to the Indian market, the main component of which is to launch two new cars every year in the country between 2006 and 2008, local media sources report.
(India/Rubber Asia) Indian truck and bus tyre exports grew 16 per cent in March 2005 compared with the same time last year (222,527 in March 2004 compared with 258,727 March 2005).
The Automotive & Tyre Manufacturers Association (ATMA) figures also show that passenger car tyre exports grew, rising from 98,327 units to 107,559 – a 9 per cent increase. LCV tyre export shipments rose 8 per cent to 118,337 units in March 2005 from 109,272 the previous year. Tractor tyre exports were also significantly higher than the previous year, growing 29 per cent (front), 11 per cent (rear) and 46 per cent (trailer) while OTR tyre shipments jumped 37 per cent. Scooter and motorcycle tyre exports shot up 45 and 44 per cent respectively.
(India/Rubber Asia) Indian truck and bus tyre exports registered a 16 per cent growth in March 2005 compared with the same month last year (YAM). While 222,527 units of these tyres were exported in March 2004, the number for March 2005 reads 258,727.
As for passenger car tyre exports, they rose from 98,327 units to 107,559, a growth of nine per cent. LCV tyres shipped out from India rose eight per cent to 118337 units in March 2005 from 109,272 units in the YAM, according to a media release from Automotive & Tyre Manufacturers Association (ATMA).
(India/Rubber Asia) There has been a flurry of new car launches in the Indian market thanks to the apparent growth in the Indian consumers purchasing power. General Motors, the world’s largest car maker, for example, has even come out with a new strategy specific to the Indian market, the main component of which to launch two new cars every year in the country, from 2006 to 2008, local media sources report.
Mr. Rajiv Chaba, president of GM India, has said it would be a “mix of local production/assembly for voulume cars and CBU imports in the case of some lifestyle products”.
Superior Industries International, has announced a 3.2 per cent increase in the company’s quarterly cash dividend, to $0.16 per share at today’s AGM. The new, higher dividend is payable to shareholders on 15 July 2005.
“We always are pleased to increase the cash dividend, particularly as we are faced with the difficult challenges of an increasingly competitive environment and the rapid globalisation of the automotive industry,” said president and chief executive officer, Steven Borick. “This latest dividend increase demonstrates the Board’s conviction that we have the right long-term strategy to protect and enhance our industry leadership, and the discipline, determination, and resources required to successfully implement our plans for the future.”
The first round of the 2005 Asia Pacific Rally Championship (APRC) that was run as the Subaru Rally, Canberra, Australia kicked up plenty of dust in more ways than one. When the dust and din settled, debutant Jussi Valimaki (co-driver Jarkko Kalliolepo) from Finland, driving a Mitsubishi Lancer Evolution VIII for Team MRF Tyres (India), emerged as the winner. However, the 30-year old Finn, nicknamed “Fast Jussi” had to wait for the several hours that it took the Stewards to conduct scrutiny and then exclude first placed Toshi Arai of Japan.
An obviously elated Valimaki said: “This was a good first rally with a new team, new car and new tyres and I’m very happy with the result. I am sure with some more time we can get faster – it’s the biggest win of my career.”
After an absence of four years, the UK tyre industry was once again treated to its own, dedicated exhibition when Brityrex International was held in May at the Harrogate International Centre.
The show consisted of more than 70 exhibitors from all sectors of the industry and, over the three days of the show, 2,495 visitors came through the doors. Paul Farrant, Managing Director of organisers ECI International, was delighted with the reactions from visitors and exhibitors, with many of the latter booking space for the 2007 show on the spot.
A common theme in the feedback from exhibitors was the quality of the visitors, with many selling machinery off the stand (in one case, every piece of machinery on the stand was sold during the show) and others reporting lists of genuine enquiries to be followed up.
“This exhibition definitely showed that there is a need for a tyre industry, trade-only event,” he said, “and I see it as the springboard for future shows.” As a mark of their confidence, ECI have booked a third hall for the 2007 show, giving another 1,000 square metres of stand space.
“I would like to thank all the exhibitors for their efforts and I am very pleased that their hard work was rewarded by visitors who were obviously at Brityrex International to do some serious business.” Paul Farrant said, adding: “Hopefully those companies which were sitting on the fence this time will have seen the quality of the show and will lend their support for the 2007 exhibition.”
The exact dates for Brityrex International 2007 will be announced later this week and the show will be officially launched at the Tyrexpo Asia show in Singapore this September. Exhibitors wanting to reserve specific stand locations are advised to book early.
(Akron/Tire Review) Joseph Copeland, senior vice president of business development, strategy and restructuring, for Goodyear Tire & Rubber Co has been named CEO of Goodyear’s South Pacific Tyres subsidiary. Goodyear owns a 50 per cent share in the Australian joint venture. Mr Copeland will report to the South Pacific Tyres board of directors, as well as to Pierre Cohade, president of Goodyear’s Asia/Pacific tire business.
Darren Wells, Goodyear’s vice president and treasurer, was promoted to senior vice president of business development and treasurer, reporting to Richard Kramer, executive vice president and CFO. Mr Wells will assume Joseph Copeland’s business development responsibilities as well as additional oversight responsibilities for the investor relations and tax functions.
(Akron/Tire Review) Publishing 2005 financial results, Yokohama Rubber Co has reported that it achieved net sales of approximately 419.8 billion yen (£2.1 billion), up 4.5 per cent from the year prior. The company also reported favourable overseas sales in Europe, Asia and the Middle East, while replacement market sales in Japan were also up. Yokohama’s Tire Group sales increased 6.7 per cent, to 307.9 million yen (£1.5 billion). Yokohama’s management projects a 6 per cent increase in net sales, a 14.5 per cent rise in operating income, and a 1.6 per cent increase in net income in the 2006 financial year. Group operating income grew 19 per cent to roughly 18.2 billion yen.
JK Tyre has received the highest ranking in a customer satisfaction survey of tyres purchased in India. Moving up from third position in 2004, JK Tyre topped the 2005 JD Power list with a satisfaction score of 781 index points on a 1,000-point scale. The industry in general performed marginally better growing one percentage point year-on-year.
Tyrexpo Asia 2005 has stepped up a gear following the organisers’ announcement that the show is now officially open for pre-registration on www.eci-international.com.
The exhibition currently has 100 exhibitors from over 45 different countries highlighting the international nature of the show. Exhibitor numbers and square metre take-up have exceeded all other previous Tyrexpo Asia events, the organisers report. Industry sectors represented include: new tyres, wheels, retreads and retreading equipment, fast fit and tyre repair equipment, tyre changers and balancing equipment, buffing and grinding equipment, disposal and recycling equipment and other tyre accessories. Tyrexpo Asia will run from the 13 to 15 September, Hall 2, Singapore Expo Centre.
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