CEAT Archives - Page 10 of 16 - Tyrepress

CEAT Ltd.

Posts

CARE Research Publishes Analysis of Indian Tyre Industry

CARE Research has published a new paper detailing the Indian tyre industry. Divided into three sections, covering the five-year period between 2003 and 2008, the basics of the industry and a detailed analysis of the top five players in the industry (Apollo Tyres Ltd, Ceat Ltd, MRF Ltd, Goodyear India Ltd and JK Tyres & Industries Ltd), the report aims to give readers a full understanding of all things tyres in India. Domestic and export markets will be covered. It will be available at http://www.aarkstore.com/reports/Indian-Tyre-Industry-17039.html.

17th September 2009/by Tyrepress Editors

Ceat Launches “Ceat Pro” Knowledge Series

Ceat Ltd. in partnership with Total Lubricants, has organised an “interactive knowledge platform” called Ceat Pro in Nagpur, India. The idea is to give customers access to best practice ideas to help them their businesses and reduce operation costs.

According to the company, Ceat Pro is intended to be a common platform for sharing information and resources. Panellists at the event spoke on fuel economy, trends in the India lubricant market, the use of telematics to increase fleet efficiency, and crucially tyre radialization and the future of tyres in India.

16th September 2009/by Tyrepress Editors

Waste Tyres to Power Ceat Plant?

International News

India’s RPG Enterprises is considering generating power from waste rubber at its Ceat Tyres factory. According to the company’s vice president of corporate finance, BL Chandak, electricity so generated at the Ceat plant would be solely used for the facility’s own consumption.

24th August 2009/by Tyrepress Editors

Ceat Considering 3-5% Price Increases

International News

Ceat managing director Paras K Chowdhary has stated the Indian manufacturer will have to increase tyre prices by up to five per cent in October if rubber prices, which climbed 10 to 15 per cent in the last quarter, remain high. In a video interview with CNBC-TV18, Chowdhary said “if Indian rubber prices don’t come […]

20th August 2009/by Tyrepress Editors

Ceat Sales, Profit up in Last Quarter

During the quarter ending June 30, 2009 Ceat Limited received net sales totaling Rs 6.796 billion (£86.5 million), an increase of 1.51 per cent on the same period in 2008. According to the company’s unaudited results, net profit for the quarter stood at Rs 602 million (£7.66 million), markedly up on the Rs 106.7 million loss for the quarter ending June 30, 2008.

27th July 2009/by Tyrepress Editors

Gripen UK Enjoying ‘Month on Month’ Growth

Over on the other side of the North Sea lies the headquarters of one of the largest and fastest growing wholesalers in Scandinavia and Europe, Gripen Wheels. The Swedish based company delivers tyres to more than 20 countries and operates numerous warehouses throughout Europe. Some 18 months ago the UK joined the list of locations where Gripen boasts a presence, and the Cambridge headquartered operation now supplies customers nationwide from its warehouse in Immingham, near Hull. Tyres & Accessories recently spoke with Gripen’s UK director, Ray Coulson, to find out how the company is progressing in our market.

2nd June 2009/by Tyrepress Editors

CEAT Tyres Inaugurates First Wheel Management Centre

In India CEAT Tyres has opened its first wheel management centre at Sankagiri in Tamil Nadu. The Economic Times reports that the centre is set to be a hub for the service and maintenance of truck radials.

The company’s vice president, sales and marketing, Arnab Banerjee told the paper, “Service and maintenance of a tyre means proper alignment, greasing and retreading in periodic intervals, nitrogen filling in tyres, and various other measures to improve tyre life and fuel efficiency of the vehicle.” He also suggested that the centre would be used for driver-based training.

It is reported that the company is tapping into the local industrialised market of 10,000 trucks, 25 per cent of which run on radials compared to the Indian average of 10 per cent.

12th May 2009/by Tyrepress Editors

Alliance Appoints Trio of VPs

Alliance Tire Group has announced that the Company appointed Jean-Paul Spijker as vice president sales global OEM, B.S. Rama Murthy as group vice president commercial and D. Suresh as vice president of Technology function at the end of February.

17th April 2009/by Tyrepress Editors

Evergreen Global Ready to Enter Europe

During the past 25 years Evergreen Global has developed from a small Singapore based wholesaler into a well-known truck tyre supplier offering its own brands, “United”, “Global Star” and “Matrix”. The next stage in the company’s development, outlined general manager Lancy Nazareth during Tyrexpo Asia, is to establish a presence in the European market.

Since the early 1980s, when company founder Ram Niranjan Jatia moved his business – which in those days dealt exclusively with the yarn trade – from Mumbai to Singapore and entered the tyre business, Evergreen has seized the opportunity to set up branch offices in numerous global locations: Today the company’s network of offices includes sites in Myanmar (Burma), Vietnam, Dubai, India and Brazil.

14th April 2009/by Tyrepress Editors

Indian Tyre Exports Decrease 12% Between April & December

A marked decline in vehicle sales worldwide together with tighter import restrictions in some countries is being blamed for a 12 per cent decrease in tyre exports from India in the last three quarters. According to India’s Automotive Tyre Manufacturers Association (ATMA), Indian tyre companies exported 2.346 million tyres between April and December 2008, compared with 2.668 million during the same period of 2007. This drop in exports occurred despite a devaluation of the rupee against the US dollar and numerous other major currencies.

3rd March 2009/by Tyrepress Editors

Indian Tyremakers Pass On Excise Duty Cut

A number of Indian manufacturers have lowered domestic market prices following a lowering of the excise duty charged upon tyres. The Indian government announced on February 24 it would reduce the excise on a range of consumer products from ten per cent to eight per cent in order to stimulate demand and boost the economy.

Apollo Tyres is passing on the benefit of the lower excise duty as of February 25, 2009 on all its replacement market commercial radial and cross ply tyres. “We should all support this proactive move by the government, which will boost the manufacturing as well as other sectors,” said Onkar S Kanwar, Apollo Tyres Ltd chairman and managing director. “We, on our part, will be passing on this reduction to our customers.”

25th February 2009/by Tyrepress Editors

Net Loss for Ceat in Last Quarter

India’s Ceat Ltd has reported a net loss for the quarter year to December 21, 2008. According to the tyre maker, losses for the period amounted to Rs 216.4 million (£3.1 million). During the corresponding quarter of 2007 the company posted a net profit of Rs 192.3 million (£2.7 million).

A net loss was recorded despite an increase in quarterly sales. In a filing with the Bombay Stock Exchange, Ceat reported company earnings rising from Rs 5.69 billion (£80.4 million) in the final three months of 2007 to Rs 5.93 (£83.8 million) billion last year.

2nd February 2009/by Tyrepress Editors

Foundation Stone Laid at New Ceat Plant

The foundation stone for Ceat Ltd’s planned new facility in Gujarat, India has officially been laid. The honour of laying the stone went to Gujarat state chief minister Narendra Modi, who was present at the site in Halol along with RPG Enterprises chairman Harsh Goenka, Ceat managing director Paras K Chowdhary and Ceat vice president (sales and marketing) Arnab Banerjee. The greenfield project, when it enters its first phase of operation, will employ more than 1,000 workers.

27th January 2009/by Tyrepress Editors

Lower Vehicle Sales, Imported Tyres Hammering Indian Manufacturers

A slowing demand for new vehicles in India has prompted led to OE tyre supplies from manufacturers based in the country to reduce by as much as 70 per cent. And the story is not much better in the aftermarket sector, reports the Automotive Tyre Manufacturers Association (ATMA), who says that cheaper imported Chinese made tyres are also having an impact.

“While the slowdown in the automobile sector has impacted the OE business, cheap imports and large scale dumping of tyres from China has created havoc with the replacement segment, forcing the tyre industry to go for production cuts,” said R P Singhania, who is chairman of both JK Tyres and the ATMA. All major Indian and multinational tyre companies, including Apollo, Birla, Bridgestone, Ceat, Goodyear, JK Tyres and MRF, are proceeding with production cuts of varying intensity in view of slowing demand.

19th December 2008/by Tyrepress Editors

JK and Ceat Join Apollo in Indian Price Cuts

Following news that Apollo has cut prices across the board in line with the four per cent reduction in India’s Central VAT rate, Ceat and JK Tyre have announced similar cuts of 3.6 and 3 per cent respectively on the average price of their products.

Apollo’s chairman, Onkar Kanwar wrote in a statement, following yesterday’s announcement on India’s cenvat, “We will be passing on this reduction to our customers, strengthening the measures that are being taken at a federal level.

“We do hope this, and other measures together, will boost production and consumer spending,” he concluded. JK’s director, AS Mehta voiced similar hopes: “Once the end user is benefited, it should benefit the entire industry.”

9th December 2008/by Tyrepress Editors