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JK Tyre Quarter Figures

Results for JK Tyre’s quarter ended March 31, 2008 show a net profit of Rs 230.2 million (£2.87 million), an increase of 67.4 per cent over the corresponding quarter last year. This profit came through net sales of Rs 8.29 billion (£103.2 million).

Upon releasing the quarter results on April 29, vice chairman and managing director Raghupati Singhania commented that the company’s Board of Directors had approved the takeover of Tornel in Mexico, and that the company’s combined capacity post-takeover would be 940 tons per day.

2nd May 2008/by Tyrepress Editors

AV Birla Signing Land Deal for Mexico Carbon Black Plant

India’s Aditya Birla group is reported to be in the process of signing a land deal with the port authority of Altamira, in eastern Mexico. The purpose of the deal is to facilitate the establishment of a US$150 million carbon black facility. “We may sign the agreement next week,” commented AV Birla Group regional joint president Surendra Goyal. “The $150 million project will be completed in two years.”

According to Goyal, the region near the port, in the Mexican state of Tamaulipas was, selected as an entry point to the US, where naptha is cheaper. The Mexican carbon black facility will add to the company’s global capacity of around 790,000 tonnes per annum, an amount that makes the company the world’s fourth largest producer. In total the Aditya Birla group plans to invest about US$600 million to increase its carbon black manufacturing capacities in India and globally. Goyal, who heads the group’s operations in Latin America and Egypt, said the company also intends to set up a facility in Oman.

2nd May 2008/by Tyrepress Editors

High Speed from Matador

The Hectorra MP 45 and MP 46 Hectorra 2 continue to keep Matador well represented in the high performance tyre segment.

Available in W and Y speed ratings, aspect ratios from 55 series down to 30 series and for wheels from 16 to 18-inch, the MP 45’s asymmetric tread pattern gives the tyre a sporty look, as well as contributing to good handling in the wet and on dry roads. ‘W’ speed rated tyres are also available with an extra load capacity.

The MP 46 Hectorra 2 is the second generation summer high speed asymmetric tread tyres produced by the Slovakian manufacturer, and the final sizes to complete the Hectorra 2 range are expected to come to market during summer 2008. Like the MP 45, the Hectorra 2 features an asymmetric tread and Matador reports it delivers excellent braking properties and reliable manoeuvrability on wet as well as dry surfaces, along with high resistance to aquaplaning. The MP 46 Hectorra 2 is available in V and Y speed rated sizes for rim diameters between 16 and 20-inch.

30th April 2008/by Tyrepress Editors

Proud Farmers Wanted

Goodyear is on the look-out for the UK’s top performing agricultural innovator. And what’s more the company is offering £3500 worth of Goodyear Farm tyres and the title of Goodyear Proud to be a Farmer Award 2008 to the most innovative farmer the company comes across. Anyone interested in entering the competition is encouraged to enter the competition via the Goodyear website www.mygoodyear.co.uk.

This year Goodyear celebrates 70 years of specialised farm tyre supply within the UK. To celebrate these innovations over the last 70 years Goodyear has teamed together with Harper Adams University College based near Shropshire, to create the Proud to be a Farmer Award. This award is searching for the UK’s most innovative, pioneering and ground breaking farmer. “Harper Adams is one of the UK’s top agricultural universities and offers a wealth of knowledge on farming practice and innovation. They will be using their expertise to help us select a winner of the Proud to be a Farmer award 2008” said Andy Morris, Director of Goodyear Farm Tyres.

30th April 2008/by Tyrepress Editors

Titan Sees Record 1Q Sales, Profit Improvement

Titan International reported “all-time record” first quarter sales of US$253.5 million, up 12 per cent period-to-period compared to 2007’s sales of $226.3 million. Gross profit for first quarter 2008 was $32.3 million, up 19 per cent versus the same period last year, while net income hit $8.1 million, up $10.6 million compared to 2007’s first quarter loss of $2.5 million.

“Titan’s first quarter reached record levels. The growth was spurred by the huge demand in the agricultural market,” said Chairman and CEO Morry Taylor “Increases in grain-based ethanol and soybean-based biofuel has increased commodity prices throughout the ag market.” Taylor said Titan is on schedule to start production of 57- and 63-inch OTR radials in July 2008. “Looking forward, production of these giant OTR tyres will build as equipment is brought online,” he said. “With the new capacity to produce giant OTR tyres and the continued demand in ag, Titan’s sales should remain strong.” (Tire Review/Akron)

30th April 2008/by Tyrepress Editors

Stapleton’s Offers Increased Availability Following Expansion

Following the relocation of two of its regional distribution centres to larger premises and the creation of an additional warehouse facility, Stapleton’s is reporting “a significant increase” in its stock profile and availability. The newly relocated centres at Warrington and Avonmouth increased stock capacity by more than 50 per cent and combined with the additional facility at Biggleswade, increased stock levels by around 130,000 tyres.

Steve Parker, Stapleton’s trading director, commented: “Our aim with the new facilities was always to offer customers the same high levels of outstanding customer service and, thanks to the increased capacity, more choice combined with excellent availability.”

29th April 2008/by Tyrepress Editors

Gori: EC Standards may Agitate Problem of Low Quality Imports

Pirelli chief executive Francesco Gori, in his capacity as president of the ETRMA, has voiced concern that planned European Commission standards will hinder European tyre manufacturers in their competition with Asian rivals. In an April 23 interview reported by Reuters, Gori commented that Asian manufacturers who produce low-cost tyres can easily circumvent the standards, and the costs involved in conforming to them, as the volumes in which such tyres are arriving in European ports makes it difficult to effectively monitor product quality.

“There are not enough resources to control this invasion of products that do not conform to European standards,” said Gori. “It’s very complicated to find a solution.” While Gori does not object to the standards’ aims of improving tyre safety and environmental footprint, his objection lies in the fact that only products made in Europe must conform. “You can use cheaper materials if you make tyres that do not meet the standards. We would want that even the tyres that are imported in Europe met the same standards.”

According to Gori, Asian manufacturers hold between 10 and 20 per cent of Europe’s tyre market, and this figure is increasing by a double-digit figure annually. He added that 20 per cent of replacement tyre sales in Europe were in the budget segment where Asian made products are the strongest.

Should the proposed standards fail to deliver safeguards against tyres that do not conform, Gori said that approaching authorities in major European national markets to discuss potential means of deterring the sale of these tyres was a possible option. He spoke of strong penalties being dished out on offenders as an example to others, and raising consumer awareness of tyre safety and quality.

25th April 2008/by Tyrepress Editors

As Worn by all the Big Names…

When UK deliveries of the long-awaited replacement for Jaguar’s S-type began in March, much interest was directed towards what many see as a make or break car for the classic British marque. The new Jaguar XF represents a departure from the company’s strategy in recent years, which has seen its efforts directed towards presenting itself as a volume production rival for the established German luxury car manufacturers. The XF, in contrast, has been planned from the outset to be something different – a more exclusive premium sports car for a discerning clientele. As Jaguar design director Ian Callum said: “Jaguars should be perceived as cool cars, and cool cars attract interesting, edgy people.”

Included in this deliberately cool package is Pirelli. The Italian manufacturer’s partnership with Jaguar continues, with homologation for the XF covering sizes for all road and weather conditions. Pirelli tyres approved for the Jaguar XF include the P Zero, P7, Nero M + S and Winter Sottozero in four rim sizes – 17, 18, 19 and 20-inch. At the top of the new Jaguar range is the supercharged XF 4.2 V8, and Pirelli’s 20-inch P Zero is the exclusively supplied tyre for this model.

24th April 2008/by Tyrepress Editors

Maywood Appointed Exclusive Cascos Distributor

The Maywood Equipment Group, sole UK distributor of the Hofmann, Omer and Finkbeiner brand lifting equipment, has announced its appointment as sole distributor throughout the UK of the Cascos brand of lifting products, beginning in April 2008. Although new to Maywood, Cascos, headquartered in Spain, has been producing lifting equipment for more than four decades, and today sells its products around the world. Maywood reports the company’s philosophy is to build a reliable product with first class materials and a high level of quality control, and deliver this together with first class service. The Kent based distributor adds that spares are also available for every Cascos lift produced throughout the company’s entire history – and at reasonable prices.

Cascos is said to have selected Maywood because, in the words of company managing director Carlos Cascos, “we wanted a partner who would insist on the importance of quality and had their own top level after sales service. Maywood also had a prominent presence in the market already selling other top brands of lifts. We are delighted to have been able to secure this arrangement with Maywood, with whom I see a great future .”

23rd April 2008/by Tyrepress Editors

Kraiburg “Satisfied” With 2007 Figures

With a turnover of 83.4 million euros in 2007, Kraiburg Austria recorded an increase of around four per cent on the previous year. The company’s mainstay of sales remains its retreading business division, accounting for 56.9 million euros.
This stability has been achieved in spite of the increasing competition due to material providers from overseas and cheap truck imports from the Far East. Positive results have begun to show through from the restructuring measures initiated last year in the sales organisation.

To improve the operating result, the company had taken the decision to manage customer contacts in selected countries without commercial agencies directly via the field and indoor service team. This cost-saving measure has been welcomed by all Kraiburg retreading partners.

22nd April 2008/by Tyrepress Editors

ATC Outlines Desire to Acquire Goodyear OTR Tyre Facility

Amongst the regular assortment of correspondence postal workers deliver to Goodyear each day will shortly appear a letter proposing the purchase of its Topeka, Kansas facility. The people at American Tire Corporation (ATC) have produced a letter to this affect, and it appears they have already licked the envelope seal, stuck on a stamp, and dropped the acquisition offer through the slot of the nearest mailbox.

According to ATC, under the proposal ATC would buy out Goodyear’s OTR tyre facility in Topeka at “any reasonable price.” Built in 1944 by US government, Goodyear’s Topeka tyre plant is the largest Goodyear OTR tyre facility in the world and the company’s only one in North America. Should such an acquisition be successful, ATC says it will spend US$200 million modernising this “old OTR tyre plant” (to quote ATC), increase production capacity for all sizes of OTR tyres by a minimum of 20 per cent, and “create more job opportunities with a better annual pay in the state of Kansas.”

21st April 2008/by Tyrepress Editors

New CEO for Parts Manufacturer Dana Holding

US automotive parts manufacturer Dana Holding Corporation has announced the appointment of Gary L. Convis as its new CEO, replacing John Devine, who has held the role in an acting capacity since January. The company, which recently exited Chapter 11 bankruptcy, appointed Convis to its Board of Directors in January 2008, shortly after he retired from Toyota, where he had served for more than 20 years, most recently as chairman.

“Gary is widely respected as one of the leading experts in lean manufacturing and management systems, including the Toyota Production System. Along with his strong leadership and global industry experience, we believe he is an ideal choice as our new chief executive,” said Dana Executive current chairman, John Devine.

18th April 2008/by Tyrepress Editors

Indian Tyre Majors Face Cartel Investigation

India’s government has asked the national fair trade regulator MRTP Commission – a quasi-judicial tribunal established to investigate monopolistic, restrictive and unfair trade practices – to look into suspected cartel-like behaviour amongst India’s major tyre manufacturers. On April 16 the commission’s investigative division issued notices to five leading tyre makers who, combined, control more than 80 per cent of the Indian market: The five include MRF, who alone controls 24 per cent, Apollo (22 per cent), JK Tyres (17 per cent), Ceat (14 per cent) and Goodyear (6 per cent).

18th April 2008/by Tyrepress Editors

Nokian Kazakh Tyre JV Will Export 5%

At least 5 per cent of Nokian’s Ordabasy-Nokian Tyres Kazakhstan joint venture tyre production plant will be exported. According to the Ordabasy Corporation manager in charge of joint venture projects, Adilkhan Umerbayev, some of this 5 per cent will be exported to EU countries. The joint venture will see a 4 million unit capacity passenger car tyre plant constructed in the Central Asian state by 2009, the Ordabasy executive explained in a report published by the Reuters news agency.

17th April 2008/by Tyrepress Editors

Michelin Invests £14 million in Ballymena Tyre Plant

Northern Ireland Economy Minister Nigel Dodds has announced a £14 million investment in manufacturing and staff training at Michelin’s Ballymena plant. The Ballymena truck and bus tyre plant manufactures products that are primarily exported to North America and Europe. According to the company, the investment will enable Michelin to maximise production efficiency through the introduction of “automated” machinery alongside a targeted training programme for all staff.

No precise details about what equipment the manufacturer will purchase have been released, however a statement on the subject said 11 separate projects would be initiated including the installation of “the latest automated production lines.”

17th April 2008/by Tyrepress Editors