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IRSG Predicts Growth In Rubber Consumption

Delegates at the 40th assembly of the International Rubber Study Group were told that rubber consumption in 2003 grew by 4.8 per cent to 19.01 million tonnes. Natural rubber consumption was up 5.6 per cent and that of synthetic rubber rose 4.3 per cent. This year, total consumption is expected to rise by 3.8 per cent and by 4.9 per cent in 2005. The main driver of this rise will be the Asia-Pacific area, with predicted growth in consumption of 5.6 per cent this year and 6.7 per cent next year.

7th May 2004/by Tyrepress Editors

Michelin 1Q results – Volumes rise as European and US markets grow

Michelin’s first quarter results show that the group’s net sales totalled 3.799 billion Euro; up 3.9 per cent on the 1Q 2003 figure of 3.654 billion Euro. If currency fluctuations are factored out, the increase would be nearer 9.5 per cent. In tonnage terms, volumes rose 7.6 per cent over 1Q 2003. Net Sales by Product 1Q 04 were as follows millions of Euros: Car/light truck: 1,842.3. Truck: 995.5. Other businesses: 1,187.6. Inter-sector eliminations: – 226.4. Total: 3,799.0.

28th April 2004/by Tyrepress Editors

Tyrexpo Asia Review

The highlights and headlines from Tyrexpo Asia. The show hit the headlines in the Far East as it signalled the rise and rise of the Chinese tyre market. The show has grown by 25 per cent since the previous event and there is every sign of it growing further still. Singapore has long been at the crossroads of international trade, it seems set to retain that role form many years to come.

8th April 2004/by Tyrepress Editors

Indian tyre industry growing

The Indian tyre industry is expected to register impressive growth coming from a combination of both organic and inorganic development, according to credit rating agency ICRA. Consolidation of the Indian tyre industry is expected to continue through mergers of existing players. While organic growth would come from raising efficiency levels, inorganic growth would be achieved through alliance and mergers and acquisitions, it said. To leverage growth, ICRA predicted that tyre makers would expand their dealerships and explore tie-ups among themselves to increase customer bases. Outsourcing would also play a major role as many companies have entered into offtake agreements with tyre producers in South-East Asia, Eastern Europe and Latin America.

25th March 2004/by Tyrepress Editors

Brityrex Is Back For 2005

ECI International, the organisers of the Tyrexpo Asia series of exhibitions, has acquired the Brityrex name and is launching a new show for the UK, called Brityrex International 2005. The show will take place at the Harrogate International Centre from 10-12 May 2005. Paul Farrant and Rowena Suthers of ECI were the original team behind Brityrex when it was owned and organised by Tyre Exhibitions and they believe that there is a place for a dedicated event for the UK tyre industry, hence the launch of Brityrex International, described by ECI as “an independent, cost-effective, no frills trade exhibition.”

27th February 2004/by Tyrepress Editors

Raw Material Costs Hit Michelin’s 2003 Figures

Michelin has released its 2003 year-end figures. These show net sales of 15.4 billion euro (down 1.8 per cent on 2002), although sales volume (in tons) rose by 3.7 per cent. Operating income was down 6.7 per cent, to 1.143 billion euro and net income was down 47 per cent, to 329 million euro. The main impact on the figures came from sharply-increasing raw material costs, which rose by 21 per cent (in US$) during the year. Currency fluctuations and several one-off extraordinary items also had a negative effect on the figures. Michelin believes that, in the light of these exceptional cost increases, its 2003 figures show that the company is resilient, with increased investment and a strengthened global presence. The company claims a worldwide tyre market share of 19.2 per cent.

25th February 2004/by Tyrepress Editors

Tyrexpo Asia 2004 – A Resounding Success

In view of what has been happening in the fastidious world of tyre shows recently, it is refreshing to report on a successful venture. Of the four Asian tyre exhibitions to date, the Tyrexpo held in Singapore 17th-19th February was by far the best and, bearing in mind the various difficulties necessitating the postponement for six months because of the SARS outbreak, a triumphant achievement for the organisers ECI International. The show had a very strong international attendance both from an exhibitor and visitor perspective. A total attendance of close-on 3,000 from over 60 countries far exceeded most exhibitors expectations. The buying and negotiating power of visitors was also favourably commented on. Those seeking new technology were not disappointed and there were also a number of innovative products on show. The next Tyrexpo Asia will be from the 13th to 15th September 2005 and ECI advised us that many of the exhibitors from this year’s show have already rebooked stands. A full report on Tyrexpo Asia 2004 will appear in the April edition of TYRES & ACCESSORIES.

24th February 2004/by Tyrepress Editors

Tyre distributors in Singapore on a roll

Rising real income in booming economies like China and Thailand are driving sales of automobiles there, Singapore companies YHI International and Stamford Tyres are poised to ride the strong tide of demand.

13th February 2004/by Tyrepress Editors

Honeywell ups polyester capacity in China

Honeywell has announced that it will double its dimensionally stable polyester production in Kaiping, China, to meet growing demand for its products and services in the Asian marketplace. The added capacity will produce the latest generations of Honeywell’s DSP® fibres for tyre reinforcement and other end uses. “This is another example of our commitment to the global tyre industry and our customers worldwide,” said Greg Rogowski, General Manager, Performance Fibers. “As the only polyester fibre supplier with manufacturing facilities in Asia, Europe and North America, we continue to make investments in technology to meet the needs of our customers, wherever they are located.” The plant expansion is expected to be complete by late 2004.

10th February 2004/by Tyrepress Editors

Bekaert celebrates its first steel cord plant in India

Bekaert has officially inaugurated its first steel cord plant Bekaert Industries Pvt Ltd in Pune (India).

6th February 2004/by Tyrepress Editors

New Bridgestone logistics centre outside Paris

ProLogis, a leading global provider of distribution facilities and services, today announced that it has signed a build-to-suit lease agreement with Bridgestone, one of the world’s largest tire manufacturers. Bridgestone will lease 245,611 square feet (22,818 m2) of distribution space at ProLogis Park Evry located on the outskirts of Paris.

4th February 2004/by Tyrepress Editors

TYREXPO ASIA 2004

‘Europe was top dog in the 1800’s, America was the great power of the last century and the next 100 years will belong to Asia’ (The Times).

A recent report by Goldman Sachs forecast that China will overtake America to become the world’s largest economy by 2040. As China’s economy grows, it will act as a magnet for raw materials and goods from surrounding Asian countries, giving a boost to the whole region. It remains one of the most exciting growth areas in Asia, with its potentially vast consumer markets and its low manufacturing cost base.

Singapore is a recognised gateway to Asia, attracting leading buyers from the whole of South East Asia and Australasia as well as the key decision makers from China and other Asian markets, providing a comprehensive mix of buyers and sellers from across the entire region.

The Asian region offers the tyre industry major opportunities for those companies committed to its long-term future. With Asian tyre consumption accounting for over 35 per cent of world demand combined with the enormous potential of tyre markets such as China and India where companies are making a name for themselves in the global tyre market, the Asian region offers investment opportunities to manufacturers and suppliers alike.

Tyrexpo Asia 2004 will be the 4th in the series of Tyrexpo Asia events that focuses on the fastest areas of growth in the tyre market and it is the only established tyre event of its kind in Asia. The 2004 event will be the largest yet and exceeds previous Tyrexpo Asia shows by over 25 per cent. The 2001 exhibition attracted visitors and exhibitors from over 63 different countries making it a truly international event. The show will once again be sponsored by Tyres & Accessories and Neue Reifenzeitung in addition to being strongly supported by specialist trade press and sponsors IE Singapore (International Enterprise Singapore). Tyrexpo Asia 2004 takes place from the 17 to 19 February at the Singapore Expo Centre and provides the perfect forum for the tyre industry to be stimulated by new ideas, products and market opportunities which reflect the importance of globalization within the region. The show focuses on every aspect of the tyre industry from tyres, retreads, tyre changing & repair equipment, to fast fit, garage equipment and parts & accessories. Amongst exhibitors are:

A-Z Formen und Maschinenbau, Big Wheel, Clipsal Airtec Pty Ltd, Collman, Columbus McKinnon, Del-Nat, Elgitread, DuroTyre, Federal Corporation, Fujikoki, Global Traco, Gummiwerk Kraiburg, Hangzhou Zhongce, Hock Lee, Italmatic, Jantsa, Kenda, Konimpex, Leka-Reifengrosshandel, Liew Koon, Mace Engineering, Midas, Mindtrac, Mohawk International, Myers Tire Supply International, Newera, Nexen Corporation, Pirelli Speciality Products, Pt Gajah Tunggal, Pt Mega Tires, Rema Tip Top, Samik Corporation, Sicam Tyre Equipment, Stamford, Tech International, Treadway Exports, Tyre Trading International, Value Tyres, Viewtum, Vipal and many more.

28th January 2004/by Tyrepress Editors

Bridgestone raises tyre prices

Bridgestone Corporation has announced that it has begun raising tyre prices by around 5 per cent in Asia, Oceania, the Middle East, Africa and Russia to offset the rising cost of natural rubber and other raw materials. The price increases vary by product and by market and largely apply to radial and bias tyres for passenger cars, light trucks, trucks and buses sold under the Bridgestone and Firestone brands.

21st January 2004/by Tyrepress Editors

TyreExpo Asia

The preview of the Far East’s window on the global tyre market. Singapore is the place to be. All the movers and shakers will be there and January T&A will give the low down on who is exhibiting what at the biggest tyre exhibition in the Pacific Rim.

10th December 2003/by Tyrepress Editors

Michelin tops JD Power Taiwan survey

Michelin has come top of the JD Power Asia Pacific 2003 Taiwan OE Tyre Customer Satisfaction Index. 900 owners of new vehicles in Taiwan were questioned about their tyres up to 18 months after the purchase. Michelin scored 827 points out of a possible maximum of 1,000. Goodyear was the second-placed brand, with 810 points.

21st November 2003/by Tyrepress Editors