Cooper Reports ‘Exciting Quarter’
Cooper Tire and Rubber has reported a 6 per cent year-on-year increase in its net sales, breaking its previous record for tyre operations.
Asia
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Bridgestone to Start Steel Cord Production in China
Product NewsThe Asia Times is reporting that Bridgestone Corp has announced that it will begin production of high-carbon steel cord in China next autumn.
Goodyear Appoints New Asia-Pacific President
Product NewsGoodyear Tire & Rubber Company has announced that Pierre E Cohade, formerly executive vice president of worldwide water and beverage company, Groupe Danone, will become president of Goodyear’s Asia-Pacific region.
Kumho To Build Second Chinese Plant
Product NewsFar eastern news agency, Asia Pulse, has reported that Kumho Tire Co has signed a preliminary deal to build its second Chinese factory.
Ambitious goals for CITEXPO in Shanghai
Product NewsThe organisers of last year’s CITEXPO, China’s International Tire Expo, were so satisfied with the results of the Shanghai show, that they have promised the second exhibition to be even bigger and better.
The CITEXPO is already the biggest international tyre exhibition in China and has attracted numerous international exhibitors and visitors from over 40 countries, including many European countries.
The exhibition will again take place in the Shanghai East Asia Exhibition Center, from 22-24 September this year. The organisers, from Reliable International Exhibition Services, Hong Kong, are aiming to make the exhibition “one of the biggest and most famous tyre exhibitions in the world.” To achieve this they will focus not only on players from the domestic Chinese tyre market, but also on the global marketplace bringing manufacturers, distributors, dealers, retailers, buyers, professionals, and other interested parties together in one venue.
A-Z Formen and Maschinenbau Divide Business
Company News, International NewsA-Z Formen and Maschinenbau GmbH Germany has sold its Rubber Extruder Division and the related IPR and know-how to VMI – AZ Extrusion GmbH Germany, a newly founded company which is part of the VMI Group. All staff have been transferred to the new company.
VMI is a supplier of tyre manufacturing and rubber compound handling machinery. Plants operating in Europe, North America and East Asia will now produce the systems. Following the acquisition the VMI Group is now in a position to supply products, process know-how and service to rubber extrusion and retread customers worldwide.
The new company’s production facility and headquarters will be based in Runding Germany, whilst its sales offices will remain in Munich and Akron USA at their existing addresses. Business contacts within both locations will remain the same, however Mr Florian Fischer, currently manager of the Machine Division of A-Z will now become the new general manager. Mr Auke Dalstra, currently VP and CFO of the VMI Group will assist him.
A-Z Formen and Maschinenbau GmbH, has been supplying molds and mold closing systems for the tyre industry, special machinery for tyre mold production and components for the aerospace and other industries for over 40 years and will now fully concentrate on this sector of its business.
A look behind Gajah Tunggal’s scenes
Product NewsThe Indonesian company Gajah Tunggal is one of the biggest tyre manufacturers in south-east Asia producing its leading brand GT Radial for demanding markets like Europe. At the moment Gajah Tunggal is expanding its product ranges in order to offer up-to-date tyres for an increasing number of customers around the world. With a tour of the factory Tyres & Accessories was given the opportunity to get an idea of how tyres are produced on Gajah Tunggal’s all-in-one site in Tangerang near Jakarta where the company is also developing and producing tyres for the domestic and regional markets.
Yokohama Results for First Quarter
Product NewsThe Yokohama Rubber Co., Ltd. yesterday announced its consolidated results for the first quarter ended June 30, 2004. During the quarter, net sales increased 7.5% to 91,072 million yen, operating income 11.8% to 3,287 million yen, ordinary income 34.5% to 2,856 million yen, and net income 59.3% to 986 million yen.
Rubber Production and Demand Increases
Product NewsThe global demand for natural and synthetic rubber will rise in the next few years, according to figures from the International Rubber Study Group (IRSG) published in the recent issue of Rubber Asia. While demand in the European Union is expected to increase by 1.6 per cent throughout this year, demand in the Asian market will grow by 5.2 per cent. Asian companies already process half of the total world production of natural and synthetic rubber, almost 20 million tonnes. The IRSG expects world demands to develop by a further 5 per cent in 2005. At the same time production is expected to increase at the same rate, suggesting that there will not be any bottlenecks.
Cooper Saiyang – a new joint venture
Product NewsCooper Tire & Rubber’s operating group, Cooper-Standard Automotive, has created a joint venture company with Chinese manufacturer Saiyang Sealing Products. Together the companies will sell automobile sealing systems under the name Cooper Saiyang Wuhu Automotive.
German Graduates Reluctant to Work in Asia Eastern Europe
Product NewsDespite the recent expansion of the EU, German university graduates are relatively uninterested in developing their careers in one of the accession countries, a new report has found.
Michelin Set the Standard in Japan
Product NewsMichelin’s winter tyres have come out on top in a survey conducted into customer satisfaction in Japan.
Research company, J.D Power Asia Pacific, performed the study, which showed of the five tyre brands ranked by the customers, Michelin scored highest with 655 out of a maximum of 1,000 points. The overall industry average is 586.
ECI International Updates Exhibition Statistics
Product NewsIn keeping with the current atmosphere of tyre industry trade events, exhibition organiser, ECI International, has released further statistics in response to both its Tyrexpo Asia and Brityrex International events.
Kevin Kramer Joins Alcoa as President, Alcoa Cast Auto Wheels
Product NewsAlcoa (NYSE:AA) announced that effective immediately Kevin B. Kramer, 44, has joined the company as president of Alcoa Cast Auto Wheels. He is responsible for the development and growth of Alcoa’s cast auto wheel business worldwide. Alcoa currently produces cast aluminium auto wheels at plants in the U.S., Canada, Venezuela and Italy. Alcoa’s cast auto wheels are found on numerous automobiles and light trucks worldwide. Kramer will be located at the Alcoa Automotive, Aerospace and Commercial Transportation office in Cleveland, Ohio.
Yokohama Business Results and New Management Organization
Product NewsThe Yokohama Rubber Co., Ltd., announced its consolidated results for fiscal 2004, ended March 31, 2004. Owing in part to favorable export sales, net sales increased 0.3%, to 401,718 million yen. However, operating income declined 9.1%, to 21,073 million yen, owing mainly to an increase in the volume of tire exports and higher prices for shipping and raw materials, such as natural rubber. Ordinary income decreased 8.2%, to 17,258 million yen. On the other hand, a tax reduction helped boost net income 1.8%, to 10,331 million yen.
