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Cabot Commissions World’s Largest Carbon Black Plant

Cabot Corporation today (23 October 2009) commissioned 150,000 metric tons of manufacturing capacity at its carbon black facility in Tianjin, China. The plant is now said to be the world’s biggest with annual production capacity of nearly 300,000 metric tonnes. Cabot share rose 4.52 per cent to US$24.72 in response to the news. The giant manufacturing project is being conducted by Cabot Chemical (Tianjin) Co., Ltd., an equity joint venture between Cabot (China) Limited, and Shanghai Coking Chemical Company, a member of the Huayi Group. Cabot and Shanghai Coking have been joint venture partners since 1988.

According to the company’s 2008 annual report, in 2007, 2007 and 2008 Goodyear Tire & Rubber Company accounted for 12 per cent, 12 per cent and 14 per cent of Cabot’s annual consolidated net sales. No other customer individually represented more than 10 per cent of net sales. In total tyre manufacturers spent $320 million with Cabot, according to the company’s accounts receivable data, more than double the $169 million they spent in 2007.

23rd October 2009/by Tyrepress Editors

Uniroyal Launches RainMax 2 for MPVs

Uniroyal has launched a new tyre for MPVs and light vans – the RainMax 2. According to the company, the tread pattern on this new rain tyre has been completely re-developed to ensure “safe, economical performance on both wet and dry roads.” New design features centre on a 17 per cent shorter wet braking distance the than that of the previous model.

23rd October 2009/by Tyrepress Editors

Nankang Presents New Winter Tyres

For the last few years CITExpo has been a fixture in the Nankang Rubber Tire Corporation’s annual events calendar. And the tyre maker, one of Taiwan’s largest, does not head to Shanghai each year just to give the exhibition an international flavour – as Eric Shih, marketing and project manager for Nankang’s export department, explained to Tyres & Accessories, the CITExpo show offers a “good chance to do tyre business.” Hence Nankang is always pleased to return to the exhibition. Admittedly, the Taiwanese company didn’t have far to travel to reach CITExpo: Nankang has an office in Shanghai and since 2003 has operated a factory in nearby Zhangjiagang, Jiangsu Province.

19th October 2009/by Tyrepress Editors

YHI International Names New CEO

Singapore based alloy wheel manufacturer YHI International Limited has appointed a new CEO of its YHI Manufacturing Group. Taiwan national Thomas Lee commenced in the role on October 7, and brings to the job more than two decades’ experience: Between 1985 and 2007 Lee was employed by aluminium wheel and casting tooling producer Lioho Machine Works in the capacity of senior vice president and chief of China operations.

15th October 2009/by Tyrepress Editors

Superior’s Turner Calls it Quits

Wheel supplier Superior Industries has announced the resignation of chief financial officer Erika Turner. In the short term her shoes will be filled by Emil “Bud” Fanelli, who has served as the company’s vice president and corporate controller since 1997. Superior Industries has begun the quest to bring a new CFO into the fold.

13th October 2009/by Tyrepress Editors

India Tyre Prices Rise by up to 7% as Demand Revs Up

Car and two-wheel vehicle tyre prices in India have recently risen by some five to seven per cent due to unprecedented demand and reduced manufacturer inventories. According to India’s The Economic Times newspaper, tyre manufacturer’s inventories have declined from 20-25 days to just 5-7 days of late, disrupting vehicle production. The price increases mean that vehicle manufacturers also need to absorb the additional cost of around Rs 800 (£10.75) in each new car they sell.

9th October 2009/by Tyrepress Editors

Cooper Tire Moving to 24/7 Operations at Texarkana Plant

Production capacity is to be expanded at Cooper Tire & Rubber’s Texarkana, Arkansas facility. The company reports that, in response to growing market demand for its products, operations at the Texarkana passenger car and light commercial vehicle tyre plant will shift to a 24/7 operation as of January 1, 2010. Approximately 200 additional employees will be needed to support this increased production volume, which will be phased in over several months in 2010.

6th October 2009/by Tyrepress Editors

Marangoni Merges Retreading Businesses

As a response to market changes and the rapid evolution of its manufacturing and distribution arms, Marangoni has decided to merge by incorporation its Marangoni Spa and Marangoni Tread SpA operations into Marangoni Pneumatici SpA. This new company, which came into being on October 1, 2009, will serve as the parent company and will be officially known as Marangoni SpA. This merger, says Marangoni, is part of a medium-term strategic plan aimed at strengthening the group and placing a greater focus on its core retreading business.

2nd October 2009/by Tyrepress Editors

Maritime Cargo Services Tackles Current Tyre Industry’s Complexity

Maritime Cargo Services, a Suffolk-based freight forwarder, was founded by Rob Shelley nearly twenty years ago. Through building relationships with tyre-based companies importing products into the UK, it can now count itself among the country’s leading freight forwarding specialists in the industry. Working closely with 20 major tyre importers, the company manages the customs clearance and delivery of containers to well over a hundred tyre warehouses and depots throughout the UK and Ireland. The company talked to Tyrepress.com about its recommendations for the tyre sector and issues currently affecting global tyre wholesaling.

1st October 2009/by Tyrepress Editors

Interstate Tires To Double European Warehouse Capacity

Interstate Tires intends to double the capacity of its European warehouse by November this year. The company says that this will enable Interstate to offer its European customers quicker delivery, better service and good availability for all Interstate tyres. Theo de Vries, Vice President, said fill rates in the first half of 2009 were about 87 per cent. Light truck tyres and winter tyres, the inventory of which is not linked to demand, were instrumental in bringing down the average, he noted.

1st October 2009/by Tyrepress Editors

Hankook Confirms it is Considering 6th Production Facility

When Hankook executives announced details of their plans to expand production at the company’s Dunaujvaros, Hungary factory earlier in September, the Financial Times reported that either an Indian or Malaysian plant are next on the list. In answer to Tyres & Accessories/tyrepress.com questions, Calvin Pak, Hankook team manager corporate communications, explained that these countries are indeed being considered, but that sites in Mexico and Brazil are also being looked into. Acquisitions of existing plants or companies are also said to be an option. However, no final decisions have yet been made.

28th September 2009/by Tyrepress Editors

Nexen to Invest 1 Trillion Won in New South Korea Factory

Nexen Tire is planning to invest 1 trillion won (£526 million; 572 million euros; $829 million) in a new factory in South Korea. The move is seen as a way of ramping up production in anticipation of a 6 per cent annual growth of global tyre demand. The new plant, which will be located in Gyeongnam Province, southeast of Seoul, would be the world's largest to produce tyres for passenger vehicles and light trucks, according to the company. The investment, which is scheduled to be made by 2017, will double the company’s existing annual output from its other China and South Korea plants to 60 million units and place it among the world's top 10 tyre makers, the company said in a statement.

Nexen shares rose 1.35 per cent to 6,020 won by 0248 GMT 28 September 2009 following the news.

28th September 2009/by Tyrepress Editors

YH America Expands Power Steering Hose Business

Yokohama Rubber has announced the expansion of the power steering business operated by it US affiliate YH America, Inc. In making the announcement, Yokohama states “in the changing US automotive market environment, no company can survive the power steering hose market without high product quality and cost competitiveness.” The company notes that, recognising this situation as an opportunity for improving its position in the market, YH America increased its production capacity in May by leasing a plant in South Carolina. This move should propel YH America into the top position on the US power steering hose market.

25th September 2009/by Tyrepress Editors

Tenneco to Close Nebraska Facility

US based automotive component supplier Tenneco Inc. reports it will close its original equipment ride control plant in Cozad, Nebraska as the company continues to restructure its operations globally. The company expects to begin transferring current customer business to other ride control operations later this year, including Hartwell, Georgia, Paragould, Arkansas, and Celaya, Mexico. Tenneco expects to complete the closure in the fourth quarter 2010. Currently 460 hourly and 40 salaried workers are employed at the Cozad plant; Tenneco states that Impacted employees will receive transitional assistance.

24th September 2009/by Tyrepress Editors

China Auto Industry Faces Overcapacity

China's auto industry has shown signs of overcapacity, but automakers continues planning further expansion, Chinese state news agency Xinhua has reported that the country’s largest car makers face overproduction, but have further expansion plans anyway. China’s car production capacity is predicted to exceed 16 million units by 2012.

Leading auto companies, including SAIC Motor, FAW Group, Dongfeng Motor and Changan Auto, have each announced multi-million unit sales targets for the coming two years. Chery Auto, for example, has set an output and sales goal of 1 million units by 2012. Beijing Auto is aiming at output and sales of 1.5 million units in 2010 and 2 million in 2011.

In the auto industry stimulus plan unveiled in March, China set a target of annually producing 500,000 electric vehicles and hybrid vehicles in 2009-2011, with new-energy vehicle sales making up 5 percent of total passenger vehicle sales.

22nd September 2009/by Tyrepress Editors