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MRF factory No. 7 to enter production by year’s end

Production at MRF Tyres’ seventh factory in India is expected to begin in the coming months. At the opening of a company sales and service outlet in the city of Kolkata, MRF deputy general manager Rajat K. Nangia commented that operations at the Rs 9 billion (£121 million) truck tyre and passenger car radial plant in Thiruchirapalli, Tamil Nadu state would commence before the end of the year. Nangia also reported on the tyre maker’s intention to raise US$110 million through the sale of ten year bonds; Nangia said the bond sale process is already underway and a portion of the funds raised will be utilised to increase capacity expansion in each of the company’s factories.

23rd May 2011/by Tyrepress Editors

Yokohama Board of Directors confirms Nagumo, Noji appointments

At its May 20 meeting, Yokohama Rubber’s Board of Directors decide in favour of the promotion announced by the previous Board of company president Tadanobu Nagumo to the role of chairman and CEO. Nagumo maintains his role as representative director. Taking his place as president is Hikomitsu Noji, currently director and senior managing corporate officer, and president of the Yokohama’s Tire Group; Noji will continue serving in this last-mentioned capacity. These and other promotions decided upon at the meeting will be formally approved at the company’s general meeting of shareholders on June 29.

20th May 2011/by Tyrepress Editors

Hankook breaks ground on 3rd Chinese plant

Last November, Hankook Tire signed a US$954 million investment agreement to build an 11.5 million tyre per annum factory in Liang Jiang Xin Qu, Southwest China. The plant is scheduled to start operation in August 2012 and build up to an output of 4,500 truck and bus radials and 30,000 passenger car radials per day by the end of 2015; on May 18, 2011, a groundbreaking ceremony was held for this third Hankook Tire factory in China. Senior company management including vice-chairman and CEO Seung Hwa Suh, CMO Hyun Shick Cho and Hankook Tire China COO Ki Yeul Huh joined some 180 government officials from Chongqing region for the ceremony at the factory site.

19th May 2011/by Tyrepress Editors

Hankook Tire America confirms warehouse shift

Hankook Tire America has confirmed it is opening a new warehouse in New Jersey, a 400,000-square-foot (37,000 square metre) facility in Dayton that will replace its current Edison centre in the same state. US industry publication Tire Review first reported on the new warehouse last week after real estate company CoStar Group announced the deal to local media. Hankook said the new warehouse can handle some 610,000 passenger, light truck/SUV and medium truck tyres, a 70 per cent capacity increase over its older location. The new warehouse is scheduled to open later this year.

19th May 2011/by Tyrepress Editors

Hefei plant inaugurated – Conti underway in Chinese tyre market

A ceremony marking the official opening of Continental’s first tyre factory in China was held on May 18. Shipments from the passenger car tyre plant in Hefei, Anhui province are expected to become available in the Chinese market within the next few weeks, with versions of the ContiPremiumContact 2 and ContiComfortContact 5 tailored for the Chinese market amongst the first volume products to be manufactured in Hefei. The new plant was officially opened today by CEO Dr. Elmar Degenhart, Nikolai Setzer, Executive Board member responsible for the Passenger Car and Light Truck Tires division, plant manager Tobias Kerle and representatives of local authorities.

18th May 2011/by Tyrepress Editors

Conti to commence Russian PCR manufacture in Q4 2013

Continental has confirmed news first reported last year on its intention to erect a new factory in Russia. Alexander Lührs, head of media and press relations for the German manufacturer’s Passenger & Light Truck Tires division, told Tyres & Accessories that approximately 200 million euros will be invested in a greenfield plant initially capable of producing four million passenger car tyres a year. Production is expected to begin in the fourth quarter of 2013, Lührs added.

17th May 2011/by Tyrepress Editors

YHI – Now is the ‘right time’ for greater OEM sector involvement

The newly-released annual report from YHI International states the Singapore-based wheel manufacturer and automotive components distributor is embarking on a “new exciting era.” Specifically, the company has begun a five-year expansion plan to grow its manufacturing and distribution segments and achieve sales of S$1 billion (£494 million) by the 2015 financial year.

17th May 2011/by Tyrepress Editors

Sumitomo to manufacture in Brazil through 100% owned subsidiary

Official confirmation has been given of Sumitomo Rubber’s plans for Brazil; in July the Japanese firm will establish Sumitomo Rubber do Brasil Ltda, a Panara state-based subsidiary responsible for manufacturing and selling tyres in Brazil. With an investment of some 560 million real (£211 million), Sumitomo Rubber do Brasil will erect a factory to produce passenger car radials. The 500,000 square metre plant is scheduled to start production in October 2013 and have a 15,000 tyre per day capacity. Sumitomo Rubber will be sole shareholder in the new subsidiary.

17th May 2011/by Tyrepress Editors

Marangoni highlights complete forklift range, German service arm at CeMAT 2011

International News, News

The Marangoni Group presented its forklift range at one of the world’s most important intralogistics exhibitions, CeMAT 2011, at the Hanover Exhibition Centre between 2 and 6 May. Following the recession in the industrial goods handling business in 2009, last year average monthly European production of forklift trucks again exceeded the 20,000 mark. This recovery in Europe has led German forklift truck manufacturers to present a new generation of technologically evolved forklifts, so as to satisfy current and future demands in terms of safety and energy savings. For Marangoni, already an OEM supplier to leading European brands, this has meant the development of a series of tyres that match the technology applied to these new vehicles.

13th May 2011/by Tyrepress Editors

Goodyear extends tyre range for telehandlers on hard ground

Goodyear has announced an extension to its range of durable radial industrial tyres, the IT630T, with the first size available the most popular one for these machines: 460/70R24. The new tyre is designed for use in hard ground applications, with its primary utilisation on telescopic handler machines, denoted by the suffix T.

13th May 2011/by Tyrepress Editors

70th Anniversary an opportunity for Hankook to concentrate on growth

As Tyres & Accessories reported on May 9, Hankook has reached its 70th anniversary. The tyre maker says it has decided against celebrating with “pomp and ceremony” and instead wishes to mark 70 years in the business by concentrating on its sustained growth. In this jubilee year, the South Korean company says it will also renew its promise to customers that in the coming decades it will “still tackle all challenges with passion and commitment and continue regional investment.”

12th May 2011/by Tyrepress Editors

Styron breaks ground on Schkopau, Germany SSBR production line

Germany’s newly elected minister of economic affairs Prof. Dr. Birgitta Wolff joined other dignitaries and employees from Styron to celebrate the construction of Styron’s new SSBR (Solution Styrene Butadiene Rubber) production line on 11 May 2011. The groundbreaking ceremony marks the introduction of an additional 50,000 metric tons of production capacity at the firm’s facility in Schkopau, Germany. According to the company, this will allow Styron better supply the “increasing demand for high performance tyres.”

11th May 2011/by Tyrepress Editors

Rising demand prompts Michelin US factory expansion

A further US$200 million is being invested in Michelin North America’s factory in Lexington, South Carolina in order to accommodate growing regional demand for passenger tyres. Work on expanding capacity at the Lexington site will begin immediately and equipment for this latest project, which adds to the more than $1 billion invested in the site since its establishment in 1981, will be installed by the first half of 2013. Michelin North America reports that 270 new jobs will be created at the Lexington factory and phased in over the coming two years.

10th May 2011/by Tyrepress Editors

Improved core business gives Nokian a ‘flying start’ to 2011

The quarter one results released by Nokian Tyres plc on May 6 show the group’s net sales to have increased 57.3 per cent to 289.2 million euros in the three months to March 31, 2011 and profit up 211.1 per cent year-on-year to 62.4 million euros. For the rest of 2011, the Finnish tyre maker anticipates operating profit, which during the first quarter jumped 241.8 per cent year-on-year to 183.8 million euros, will “improve clearly” compared with 2010; this may be helped by a 30 per cent increase production capacity during the year, largely in its Russian plant. The challenge posed by raw material costs remains, however, and Nokian anticipates these will this year be 30 per cent higher than in 2010. To counter this, Nokian is preparing for “further tyre price increases during 2011.”

6th May 2011/by Tyrepress Editors

Q1 puts Pirelli on track for 2011 sales of “above 5.85 billion euros”

Results for the first three months of the current financial year show Pirelli & C. SpA revenues increasing 23.4 per cent year-on-year to 1,401 million euros and a 43.3 per cent growth in the company’s gross operating result (EBITDA) to 203.4 million euros. The operating result (EBIT) before restructuring charges was 146.5 million euros, compared with 90.2 million euros in the first quarter of 2010, while EBIT after restructuring charges was 143.3 million euros, a year-on-year increase of 63.6 per cent. EBIT margin increased from 7.7 per cent in the first quarter of 2010 to 10.2 per cent.

5th May 2011/by Tyrepress Editors