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PTL Announces New Greenfield Facility

On January 15 the Board of Directors of PTL Enterprises took on record the company’s unaudited results for third quarter of 2007-8 and gave approval for a Rs 400 million (£5.2 million) green field project in Kerala. For the third quarter of the year, PTL Enterprises recorded a total income of Rs 67.1 million (£871,800) from Rs 38 million (£493,700) in the same quarter last year; an increase of nearly 77 per cent. Company net profit went up by more than 1000 per cent to Rs 23.6 million (£306,600) this quarter from Rs 2 million (£26,000) in Q3 FY 2006-07.

The Board of Directors approved a Rs 400 million investment for a greenfield facility manufacturing specialty tyres for the Indian market. The manufacturing unit will be established on land recently acquired by the company in Ernakulam, district of Kerala. The PTL facility is currently leased to Apollo Tyres.

15th January 2008/by Tyrepress Editors

Apollo Announces Results, Projects

Gurgaon, India, January 15, 2008: The board of directors of Apollo Tyres Ltd, on January 15 announced the company’s unaudited results for the third quarter of the financial year 2007-08. The board also approved investments of Rs 3.6 billion (£46.8 million) for various green and brown field projects to be implemented in India.

Net sales for the companies India & overseas operations closed at Rs 12.4 billion (£161.1 million) up 14 per cent £140.3 million) from Rs 10.8 billion. Operating profit rose by 60 per cent, and net profit, at Rs 820 million (£10.7 million), increased by 165 per cent.

Commenting on the results, Onkar S Kanwar, Apollo chairman & managing director, said: “This is the kind of steady growth that we are looking to maintain in India, South Africa or any other market that we work in, in the near future. Our strength in manufacturing and people are assets, and Indian companies need to leverage these to ensure that we build Brand India as a quality manufacturer of products and services.”

15th January 2008/by Tyrepress Editors

Apollo Unveils Concept Tyres

Apollo Tyres is a manufacturer moving up in the world; the company is in the process of significantly expanding its production capacity, and the acquisition of overseas companies plus the establishment of a greenfield facility in Europe is on the cards. A further sign that Apollo aspires to bigger and better things is the unveiling of its, and India’s, first concept tyres.

The first of these is called the Aspire TT and has been designed for Apollo by Turin based Tom Tjaarda, designer of over 70 well-known cars including the De Tomaso Pantera, VW Karmann Ghia 1500, Fiat 124 Spyder and Ferrari 330GT and 365 GT Coupe. The Aspire TT features a bi-directional asymmetric tread pattern. Displayed alongside the Aspire TT at the Auto Expo 2008 in New Delhi was the Dolphin concept, a tyre offering strong wet weather performance.

14th January 2008/by Tyrepress Editors

Trelleborg Investing $20 Million in Sri Lanka Expansion

Trelleborg is reported to be expanding its operations in Sri Lanka at the expense of those in the US. The Ceylon Daily News reports that the Swedish firm intends to invest US$20 million expanding its operations in this South Asian nation, with part of this expansion taking the form of relocating its entire Hartville, Ohio tyre operations there.

14th January 2008/by Tyrepress Editors

Pirelli Announces ‘Extensive’ Investment in UK Motorsport

Pirelli has announced that the Italian manufacturer will invest “extensively “in the UK and Eire and is delighted to promote national championships, supporting customers and competitors alike, speaking at January’s Autosport show. Pirelli representatives told Tyres & Accessproes that are “very pleased” to announce that the company has a new UK distributor of Rally Tyres in D Mack Tyres Ltd which is based in Cumbria and is run by the former head of Motorsport for Pirelli Ltd, Dick Cormack. In Ireland, Pirelli said it is delighted to continue its 10-year partnership with Pitlane Motorsport.

14th January 2008/by Tyrepress Editors

BKT to Establish New Facility, Increase Capacity

Balkrishna Tyres is reported to be planning a new facility within the Special Economic Zone in Gujarat, northwest India. An investment of Rs 5 billion (£64.7 million) will go into the facility over a three-year period starting in the 2009 financial year, with the completed plant expected to have an annual output of 75,000 tonnes. The company’s head of finance, B K Bansal, told local media “we are analysing two to three Special Economic Zones in Gujarat and are in talks for acquisition of land, though nothing has been finalised as yet.”

10th January 2008/by Tyrepress Editors

Apollo Tyres to Double Radial CV Tyre Production

Apollo Tyres has announced it is planning to double commercial vehicle (CV) tyre production capacity at its Vadodara plant. Apollo, which bought Dunlop International and its Regal brand at the end of 2006, has reportedly made the expansion plans following a successful response to test marketing its Regal brand truck and bus radials.

9th January 2008/by Tyrepress Editors

Bridgestone to Expand US OTR Tyre Plant

Bridgestone Firestone North American Tire intends to expand operations at its Bloomington OTR tyre facility, situated in the Illinois town of Normal. According to preliminary reports, curing capacity for large size loader tyres produced at the plant will be doubled, and new OTR sizes will also be introduced. The company says that at least US$12 million will be invested in the facility over a five-year period, with 50 new jobs created during the course of 2008.

9th January 2008/by Tyrepress Editors

Stapleton’s Invests in New Delivery Vans

Following the relocation of two of its regional distribution centres to larger premises and the opening of a brand new warehouse, Stapleton’s has expanded its fleet of delivery vans. The 20 Renault Master and six Isuzu 7.5 ton vans will join the 40 vans that were introduced at the end 2006, bringing the Company’s delivery fleet to 179 vehicles. Commenting on the additional vans, Steve Parker, Stapleton’s trading director says: “By relocating stock to larger facilities and commissioning a brand new warehouse in Biggleswade, we have increased our capacity and improved stock levels. With increased stock, we can offer customers improved availability so it is vital that we are able to continue to deliver a fast, efficient and reliable delivery service with greater flexibility in terms of delivery options.” Stapleton’s fleet of vehicles offers nationwide deliveries on a twice-a-day, same-day or next-day delivery basis depending on individual customer requirements. Steve Parker continued: “During the warehouse moves, we also implemented new technology and picking systems further improving efficiency and delivery turnaround for customers.”

3rd January 2008/by Tyrepress Editors

Continental Opens 100th Dealership in China

Continental Tire opened its 100th dealership in China in mid-December. According to a company statement, Conti plans to have a total of 300 dealerships across China by the end of 2008. “The hundredth store in China is a milestone for our long-term development in China,” said Klaus Kreipe, chief of Continental Tire China operation at the opening ceremony of the new store in Shanghai. The news follows Continental’s decision to invest three-digit millions of euros in its first production plant in China. The new production line will be based in Hefei, the capital city of Anhui province. The new plant is set to start construction in mid-2008 and will output 4 million tyres, primarily for China’s domestic market when it is finished. In October 2007 Continental AG set up a storage and logistics centre in Shanghai. The new centre has a capacity to stockpile 80,000 tyres, and could distribute as many as 400,000 tyres annually. Continental AG established its Asian headquarters in Shanghai in January 2006.

2nd January 2008/by Tyrepress Editors

Viking Relocates Edinburgh Warehouse

Viking International has moved its Edinburgh warehouse to a new facility at Clifton Trading Estate, Clifton Hall Road, Newbridge. According to company representatives, the new site offers double the capacity of the previous storage facility, giving increased range and stock holding levels to customers throughout the north east coast of Scotland. Strategically located for improved delivery and service capability, the company says customers in Aberdeen, Borders, Dundee, West Lothian, East Lothian and Fife will benefit from then move.

14th December 2007/by Tyrepress Editors

Apollo to Increase PCR Tyre Capacity by 50%

On December 13 Apollo Tyres stated it would invest more than one billion rupees to increase its PCR tyre capacity from 300,000 to 450,000 units per year. According to company COO and joint managing director Neeraj Kanwar, this expansion programme would be centred on Apollo’s Limda factory in the state of Gujarat, with some further small capacity increases also carried out in its other facilities in India and South Africa.

“We have earmarked Rs 108-crore (£13.4 million) investment for the next fiscal to increase our production capacity to 4.5 lakh (450,000) tyres per annum. This will suffice the expansion plan given that this will be an expansion of existing capacity as opposed to creating greenfield site,” Kanwar was quoted by India’s Sify news as saying. “We will embark on capacity expansion in the next fiscal and it will be completed by the end of the fiscal.” Kanwar added that the company would use internal accruals to fund the proposed expansion.

13th December 2007/by Tyrepress Editors

Bridgestone Aiming for 40% of Oman PCR Market

While visiting Oman for the launch of Bridgestone’s Adrenalin Potenza RE001 tyre, the company’s general manager for the Gulf, East Africa and Nigeria, Takahiro Mitsui, spoke about the company’s activities and ambitions for the region, and the measures being taken to ensure global supply keeps pace with demand.

According to Mitsui, Bridgestone holds 30 per cent of Oman’s passenger car tyre aftermarket. This high percentage, he believes, is in part the result of the predominance of Japanese cars sold on this market, most of which arrive fitted with Bridgestone as OE. The activities of Bridgestone’s regional distributor, Towell Auto Centre, is another key factor, said Mitsui. From a solitary outlet in 2001 the distributor has expanded to 16 outlets by 2007. However the general manager believes that, should a sufficient supply of tyres become available, Bridgestone could feasibly hold 40 per cent of this market segment. Across all market segments, Bridgestone currently holds 35 per cent of the market.

12th December 2007/by Tyrepress Editors

Kumho: “We Will Continue to Invest in Vietnam”

During a state visit to South Korea the leader of Vietnam, Nong Duc Manh, met with Kumho Asiana chairman Sam Koo Park to discuss issues of economic cooperation. Mr. Park attended a lunch meeting with the secretary general of the Communist Party’s Central Committee, at which the two men spoke of ways to increase economic cooperation and general exchange between Korea and Vietnam.

In his welcome address to the secretary general, Mr. Park stated: “We will continue to invest in Vietnam as well as carry out social contribution activities that will benefit the local community…We sincerely look forward to increasing mutual exchange and cooperation between the two countries and wish Korea and Vietnam every future prosperity and a fruitful partnership for a long time to come.”

12th December 2007/by Tyrepress Editors

Multistrada to More than Double Capacity

Indonesian manufacturer PT Multistrada Arah Sarana has announced plans to increase its production capacity from 17,000 units per day to 40,000 during 2008. The company’s public relations manager, Prawita Hertika, said that this move was necessary to keep pace with demand, which at present is averaging 100,000 units per day.

Prawita said that the company, which produces the Multi Strada range of tyres, will expand the capacity of its factory in Cikarang, east of Jakarta to meet increasing export demand. Should market requirements necessitate still further expansion, Prawita added, Multistrada has sufficient vacant land at its factory site to accommodate additional development.

The tyremaker at present exports 85 per cent of its production, with the UK, the Middle East and the US three of its key markets.

12th December 2007/by Tyrepress Editors