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Lanxess Increases 2008 Earnings Forecast

Specialty chemicals company Lanxess AG has increased its net sales for the third quarter of 2008, however in keeping with the current economic climate these higher sales figures have not equalled greater net income. Quarterly sales of 1.81 billion euros for the period ending September 30 represented an increase of 6.4 per cent. Pre exceptionals EBITA, at 191 million euros, was also up on last year’s 175 million euros in the third quarter. BBIT, pre exceptionals, was 119 million euros, 6.3 per cent higher than the corresponding quarter of 2007. The company’s quarterly net income of 56 million euros represented a decrease of 25.3 per cent.

14th November 2008/by Tyrepress Editors

Columbian to Close US Carbon Black Plant

Due to softer demand for carbon black in North America, Columbian Chemicals announced on November 12 that it will close its production facilities in Marshall, West Virginia, on or around January 31, 2009. Approximately 55 jobs will be lost as a result of the closure.

13th November 2008/by Tyrepress Editors

Yokohama to Build JV Rubber Processing Factory in Thailand

On November 12 Yokohama Rubber announced its intention to cooperate with Teck Fu Joint Venture Co., Ltd. to build a joint-venture natural rubber processing factory in southern Thailand’s Surat Thani Province. Teck Fu is a subsidiary company of Teck Bee Hang Co., Ltd., a natural rubber processing company in Thailand. Yokohama Rubber’s decision to operate its own factory stems from its aim for an assured stable supply and quality of natural rubber, the company says.

12th November 2008/by Tyrepress Editors

François Michelin Inducted into TIA Hall of Fame

An honour that carries particular weight in North America is the ‘hall of fame’, a distinction for those who achieve lifelong excellence in their specific field, whether it be sports, music – or tyres. This year one of the historical contributor inductees into the Tire Industry Association (TIA) Hall of Fame was Mr. François Michelin, former managing partner of the Michelin Group. In November ceremonies held during the annual TIA “Breakfast with the President,” Mr. Michelin was recognised for his accomplishments and contributions to the tyre industry, including his support for the advancement of radial tyre technology.

12th November 2008/by Tyrepress Editors

Toyota, Renault-Nissan Look to Emerging Markets

With vehicle sales in established markets declining, it is hardly surprising that manufacturers are eyeing fresh fields. India’s Tata has already unveiled the Nano, at £1,300 the world’s cheapest new car; now the company faces competition from international rivals hoping for a share of the Indian and other newer markets.

Toyota, along with its Daihatsu small vehicle unit, is said to be developing a new low-cost car for emerging markets. The vehicle, which would sell in locations such as India, Brazil and Africa, is said to have a planned price tag of around £3,200. Japan’s Asahi Shimbun newspaper reports this vehicle will be introduced in the early 2010s and manufactured in India. Toyota executives have not, however, confirmed this news, and are said to have countered that selling such a car under the Toyota badge could harm its brand image.

11th November 2008/by Tyrepress Editors

Superior Industries Records $14.2M Q3 Net Loss

Superior Industries International has announced a net loss of US$14.2 million for the third quarter of 2008, including a charge linked to the December closure of its factory in Pittsburg, Kansas. In the comparable quarter of 2007 Superior recorded a net loss of $739,000. Unit shipments decreased 29 per cent in the quarter, compared with the same period a year ago, and were at the lowest level since the third quarter of 1998.

11th November 2008/by Tyrepress Editors

Pirelli Supports US Amateur Motocross Event

Pirelli has announced that it has added the 2008 Amateur Open of Motocross to its – exquisitely produced – calendar. The Italian giant will be trackside at the Arizona Cycle Park in Phoenix between 12-16 November, supplying riders with its own Scorpion MX tyres in its capacity as the event’s official supporter. The contest is one of the USA’s top amateur motocross championships, and will see $150,000 distributed in prizes.

11th November 2008/by Tyrepress Editors

Production Starts at Kumho China Factory

According to South Korea’s Yonhap news service, the production of truck and bus tyres began today at Kumho Tire’s new facility in China. The US$100 million plant in Nanjing has a capacity to produce 300,000 bus and truck tyres per annum, the company said in a statement.

7th November 2008/by Tyrepress Editors

Strong Bekaert Sales Driven by High Raw Material Prices

In the first nine months of 2008 Bekaert achieved consolidated sales of 2.047 billion euros and combined sales of 3.119 billion euros, an increase of 28.8 per cent and 24.0 per cent respectively. Bekaert reports that organic growth accounted for a growth in consolidated sales of 24.7 per cent, largely driven by the passed on raw material price rises, and the net movement in acquisitions and divestments in Vicson (Venezuela) and in Proalco (Colombia) accounted for 7.9 per cent. Exchange rate fluctuations tempered the growth by 3.8 per cent.

7th November 2008/by Tyrepress Editors

Pirelli – Russian Technologies JV Agreement Signed in Moscow

On November 6 Pirelli & C. SpA and Russian Technologies State Corporation signed an agreement formalising a joint venture between the two companies. Although details of the JV are still to be finalised, Pirelli reports that the production of tyres in Russia will begin before the end of 2010.

7th November 2008/by Tyrepress Editors

Lanxess and Cheng Shin Sign Long-Term Supply Agreement

The Performance Butadiene Rubbers business unit belonging to Lanxess AG and Taiwanese tyre manufacturer Cheng Shin Rubber have put their cooperation on a firm footing with the conclusion of a long-term supply agreement. Over the next four years Lanxess will supply solution SBR and polybutadiene rubber to Cheng Shin, and the company plans to nearly double the volume of high-performance rubber it supplies over this period.

5th November 2008/by Tyrepress Editors

Bekaert and Angang Steel Establish Steel Cord Joint Venture

Belgium’s Bekaert Group and China’s Angang Steel Company are reported to have formerly established a joint venture company on October 30. Called Angang Bekaert Tire Cord Co, the new venture is situated in Chongqing’s Shuangqiao Industrial Park and will engage in wire rod processing and the production of tyre cord for the domestic market.

4th November 2008/by Tyrepress Editors

Contract Extension Gives Cooper, USW Three More Weeks

Cooper Tire & Rubber agreed on October 31 to extend its contract with USW Local 207L until midnight on November 21, 2008, to allow more time for discussion. The contract was set to expire at the end of October. During this three week extension period, production will continue as planned at the Findlay, Ohio tyre manufacturing facility.

4th November 2008/by Tyrepress Editors

Michelin to Discontinue BFGoodrich Agricultural Tyre

In order to improve the ability of its own branded agricultural tyres, Michelin North America announced on October 31 that it will, as of next year, no longer offer the BFGoodrich Power Radial 80 tyre. The company says it will convert the factory capacity currently utilised in its production to the manufacture of Michelin-brand agricultural tyres.

3rd November 2008/by Tyrepress Editors

The US Made Tyre – An Endangered Species?

Every day the news seems to get worse – production cuts, decreased demand, shutdowns, plant closures – the US tyre industry is not, to put it lightly, in a happy place at present. The problems it and the automotive sector as a whole now face are of course only a fragment of a wider tapestry of economic woe, and the range of remedies tyre makers have at their disposal are limited.

3rd November 2008/by Tyrepress Editors