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Rhodia to boost HDS capacity at French, US facilities

Newly announced capacity increases at two Rhodia facilities, together with the company’s recently inaugurated plant in Qingdao, China, will increase Rhodia’s global highly dispersible silica capacity by more than 40 per cent. The French specialty chemicals company is investing in its Chicago Heights plant in the US and its Collonges-au-Mont-d’Or facility in France to give the plants a combined 32,000 tons per annum additional HDS production capacity. Start ups are respectively planned in the fourth quarter 2011 and the first quarter 2012.

23rd February 2011/by Tyrepress Editors

Eurotire says “Romanian OTR plant is complete”

New York based mining tyre company Eurotire – not to be confused with European distributor Eurotyre – has announced the completion of its OTR manufacturing plant at Drobeta-Turnu Severin, Romania, which was first announced in 2007. The company says US$300m was invested, with “nearly 1,000,000 sq ft of high-tech manufacturing and product development space” available at the facility. Information on the capacity of the plant, the product lines manufactured there and the markets products from the plant will be shipped to has not yet been passed to tyrepress.com.

22nd February 2011/by Tyrepress Editors

Kumho tyres shod winner of GMF Motor Factors Wydean Forest Rally

Four of the top ten finishers at the GMF Motor Factors Wydean Forest Rally on 12 February were shod with Kumho R800 gravel rally tyres, the Korean manufacturer reports. They included the Peugeot Cosworth of Andy Burton and Robin Kellard, which took the top podium spot, and the Mitsubishi Evo IX of David Wright and Michael Wilkinson that was fourth overall and first in class B13.

22nd February 2011/by Tyrepress Editors

Giti Tire Corporation 2010 earnings down 64 per cent

Giti Tire Corporation (a Giti Group Shanghai listed company) recorded a 64 per cent year-on-year drop in 2010 net profit attributable to shareholders to 54 million yuan. This was despite a 36 per cent year-on-year increase in revenue to 3.61 billion yuan, according to a company filing.

21st February 2011/by Tyrepress Editors

Guizhou Tyre’s 670 million yuan rights issue

Guizhou Tyre reportedly planed to raise 670 million yuan (£62.924 million; 74.624 million euros; US$102 million) through a rights issue of three shares for every 10 shares held at 6.86 yuan per share. According to Shanghai Securities News, which cited a company filing, the subscription period was 11 – 17 January 2011. The company has not yet released any details of the results of the issue.

21st February 2011/by Tyrepress Editors

Share offer for Azerbaijan tyre maker announced

Azerbaijan’s State Committee for Property Affairs is offering investors the chance to obtain a 96.98 per cent share in tyre maker JSC Azersin. According to the Azerbaijan Business Center, this package of shares is made up of a standard package offered for investment (85 per cent of shares) plus shares available after labour collective subscription. The share tender is open to both domestic and foreign investors. Bids for shares in the debt-ridden tyre maker are accepted until March 31.

21st February 2011/by Tyrepress Editors

Recyclatech signs first franchise deal for bacteria devulcanisation process

Various news sources have reported the February 15 signing of a franchise deal between Scotland’s Recyclatech Group and Spanish firm Biotyre. According to The Scotsman newspaper, Biotyre will build a pilot tyre recycling plant in Spain utilising Recyclatech’s bacteria driven devulcanisation technology, and in return from licence fees and royalty sales the Scottish firm will provide Biotyre with technical and scientific support, plus the bacteria used in the process. The half million pound pilot plant is being set up with a view to Biotyre establishing a full-scale commercial operation. Recyclatech itself intends to establish a facility of its own in Scotland, and The Scotsman reports company chairman John Pool as saying the company is “close” to raising the £1 million it needs for this. The Recyclatech plant will have the capacity to produce around 1,000 tonnes of recycled rubber per annum and it will be used to supply samples to companies interested in using the technology.

18th February 2011/by Tyrepress Editors

Yokohama signs site lease for Philippines factory expansion

To fulfil plans to increase tyre making capacity, Yokohama Rubber has signed a contract to lease a 300,000 square metre section of land adjacent to the Yokohama Tire Philippines plant, some sixty kilometres northwest of Manila. The leasing contract for the land at the former US Air Force base was signed between Yokohama and Clark Development Corporation on February 12. The capacity expansion plans were first announced in late January and involve a total investment of 50 billion yen (£371.3 million) in order to increase capacity 143 per cent to 17 million units per annum.

18th February 2011/by Tyrepress Editors

James Nuttall switches truck fleet to Michelin Energy tyres for fuel efficiency

National haulier James Nuttall (Transport) is moving its truck fleet on to Michelin’s Energy tyres following outstanding results from a year-long trial. The company is seeking ways to reduce costs, and with the increases in fuel prices, the company has devoted some attention to ways in which consumption can be lowered. The transport operator reports that it recorded a 5.08 per cent improvement in fuel efficiency when using Michelin’s XZA 2 Energy and XDA 2 Energy tyres compared to the fleet’s existing XZE 2+ and XDE 2+ fitments, which are principally designed for regional haulage. Performance was measured using two identical Scania R 420 6×2 tractor units.

16th February 2011/by Tyrepress Editors

Yokohama Rubber announces senior management promotions

On 14 February 2011, the board of directors of Yokohama Rubber decided the following management changes in board membership and corporate officers, which take effective on 1 April 2011. The changes include the promotion of Hikomitsu Noji to director and senior managing corporate officer, president of Tire Group. He is currently director and managing corporate officer, president of the Tire Group, general manager of Tire Global Production Division.

16th February 2011/by Tyrepress Editors

Sumitomo Rubber warns on earnings, to raise prices 7%

Sumitomo Rubber Industries announced full year 2010 results and issued a profit warning on 9 February, but analysts warned that while positive sales projections look conservative the firm may have underestimated raw material costs as well. During the last financial year, higher raw materials prices reportedly cut earnings by 30.6 billion yen year-on-year and yen appreciation had an adverse impact to the tune of 5.0 billion. While higher selling prices boosted profits by 8.9 billion yen and volume/composition is said to have given a 39.8 billion yen boost. Higher productivity also contributed to earnings.

16th February 2011/by Tyrepress Editors

Maxxis rewards leading retailers with Shanghai trip

International News, News

Maxxis International thanked its top 18 performing retailers of 2010 – the winners of the top prize in the Maxxis Rewards programme – by taking them on a seven-day, all expenses paid trip to China. A mix of culture and business, the visit combined sightseeing visits to major attractions in Shanghai, Hangzhou and Shuzhou with a tour of the Maxxis factory in Kunshan.

15th February 2011/by Tyrepress Editors

Nissan builds battery plant

Nissan Motor Co., Ltd., has begun construction of a state-of-the-art, advanced lithium-ion battery plant in Cacia, Portugal to support the rollout of electric vehicles from the Renault-Nissan Alliance in Europe, reports the headlineauto website. The battery plant is being built on a 30,450 sq. m. plot of land belonging to the Renault CACIA gearbox assembly plant following an investment of 156 million euros. The facility will start operations in December 2012 and will have a total capacity of 50,000 units a year. About 200 jobs are expected to be created by the new plant.

14th February 2011/by Tyrepress Editors

Kramer praises loss-making Goodyear for ‘improvement across all businesses’

Although Goodyear Tire & Rubber recorded a net loss for the third consecutive year, company chairman and CEO Richard J. Kramer states he’s “very pleased” with the tyre maker’s fourth quarter and full year 2010 performance. “Our operating results reflect significant recovery, with improvement across all of our businesses versus last year despite escalating raw material costs,” Kramer commented.

10th February 2011/by Tyrepress Editors

Goodyear to close Union City plant by year’s end

WIthin its full year 2010 results report, released February 10, Goodyear Tire & Rubber discloses plans to close its tyre making facility in Union City, Tennessee by the end of this year. A stated reason for proceeding with closure plans is the desire to “reduce high-cost manufacturing capacity globally” as per Goodyear strategy. The Union City plant currently employs approximately 1,900 people.

10th February 2011/by Tyrepress Editors