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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

Ceat breaks ground on radial plant in India

Ceat Ltd. has broken ground on a £95 million radial tyre factory in the Indian state of Gujarat. The new factory is expected to eventually produce up to 500 tonnes of passenger, light and medium truck tyres a day, with as much as 40 per cent of production earmarked for export. According to Ceat, the factory will be constructed in three phases, with the first of these entering production in June 2010. Daily capacity at this time will be in the area of 100 to 150 tonnes.

8th December 2008/by Tyrepress Editors

Ceat Sri Lanka to Make Most of Lower Rubber Prices

Ceat Sri Lanka, the joint venture company established by Ceat India, Associated Motor Ways and Kelani Tyres, will take advantage of declining world rubber prices to strengthen its position in the local car and truck tyre market. The company’s managing director, Rohan Fernando, said that “the global financial crisis has reduced global tyre consumption. Therefore, international rubber prices have also come down in view of the current financial crisis during the last few months.” With cheaper prices for the material that accounts for 40 per cent of a tyre’s construction, Ceat’s production costs are expected to drop.

10th November 2008/by Tyrepress Editors

Cheaper Rubber Doesn’t Equal Cheaper Tyres – Indian Manufacturers

Despite the prices for natural rubber in India dropping more than 32 per cent in the last two months, tyre manufacturers in this country appear reluctant to follow suit with their own prices. The price of natural rubber fell below the Rs 100 ( ) a kilogram mark on October 7, the first time it has done so this year after rising to a high of Rs 140 ( ) per kilogram in August. The fall in the price is attributed to a decline in crude oil prices and a slide in international rates for latex. Further decreases in the price of natural rubber are also expected in India, the result of peak production season supply and diminished purchasing from industrial users.

10th October 2008/by Tyrepress Editors

Phillips Carbon Black Commissions New Power Plant

Phillips Carbon Black has invested in a means of converting excess gas into energy and financial savings. The India based company has announced the commissioning of its 30 MW co-generation power plant Durgapur, in the state of West Bengal. The Rs 1 billion (£11.6 million) facility, which utilising the waste gas produced during the process to generate power, was commissioned on September 29.

3rd October 2008/by Tyrepress Editors

Possible Site for New Ceat Plant Named

According to an unnamed government official, India’s Ceat Ltd is considering the northeastern state of Gujarat as the location for its new LCV and truck radial facility. The Thaindian news reports the source as saying the company will invest RS 5 billion (£57.76 million) in building the facility, however Ceat has not confirmed any such detail.

29th September 2008/by Tyrepress Editors

Ceat Halts Production in Mumbai

Indian tyre manufacturer Ceat has declared to the Bombay Stock Exchange that it has stopped production at its factory in Bhandup, near Mumbai, for Thursday and Friday this week. A company statement said that the decision had been taken due to a pile up of stock at the factory, thanks to a slump in the tyre sales market.

5th September 2008/by Tyrepress Editors

Ceat Chooses Consultancy Over Strategic Partner

Ceat Limited is reportedly no longer seeking a strategic partner for its planned radial facility in Baroda, India, and is instead receiving technological assistance and know-how from a US based consultancy firm. The tyremaker has sought a partner for assistance in setting up a more than Rs 6 billion (£72.6 million) truck and bus radial factory for more than a year, and in February Sales and Marketing vice-president Arnab Banerjee felt confident enough on the likelihood of this to say that Ceat “should be able to finalise the partners soon.”

6th August 2008/by Tyrepress Editors

Sunil Sapre Appointed New Ceat CFO

Major Indian tyre manufacturer Ceat has announced the appointment of Sunil Sapre as its new chief financial officer. Sapre has previously held the positions of executive vice-president and company secretary at Godrej Consumer Products.

Ceat is the flagship company of RPG Enterprises, boasting an annual turnover of 26 billion rupees and exporting globally to over 100 countries.

4th August 2008/by Tyrepress Editors

Indian Tyre Industry Faces Price Fixing Probe

The Competition Commission of India (CCI) has suggested that there may be an issue of price fixing within the Indian tyre industry.

According to a study carried out at the Jawaharlal Nehru University and commissioned by the CCI, certain companies have enjoyed similar sales realisation with “widely differing profit rates.”

14th July 2008/by Tyrepress Editors

Indian Tyre Shares Boosted in Wake of Hikes

As promised, the price hikes across some of India’s premier tyre manufacturers have been implemented. JK Tyre raised its truck tyre prices by 6 per cent, while Ceat raised non-commercial vehicle tyres by the same quantity. Meanwhile, Apollo has raised prices across segments by 7 per cent.

Following the hikes, shares in each of the companies went up in value, JK Tyres the leaders with a rise of 1.86 percent, closing in Mumbai at 96.05 rupees.

10th July 2008/by Tyrepress Editors

Heuver Continues Spectacular Growth

Established in 1966 by Mans Heuver, Heuver Bandengroothandel has expanded from a small business (for which Mr. Heuver personally made tyre deliveries on his motorcycle) into a global organisation with a wholesale business for industry clients and a number of outlets – the Profile Tyrecenters – for both business and retail customers. Today the Netherlands based business is run by Mr. Heuver senior’s two sons, Bertus and Jan, and the growth continues.

To facilitate an expanding business base, two years ago the company opened a new 12,000 square metre facility in its hometown of Hardenberg. Now, reports Bertus Heuver, the company is looking at the need to build another 12,000 square metre premises. “Since we completed the new buildings in 2006, we’ve seen that the choices we make today enable us to accelerate our expansion plans,” he said. “In other words, we’re ahead of our goals. At the end of this year, we’ll be taking the next step in our development strategy and doubling our warehouse inventory.”

27th June 2008/by Tyrepress Editors

RPG Investing in CEAT, Philips Carbon Black

India’s RPG group recently outlined plans to invest Rs 30 billion (£357 million) in its tyre and carbon black subsidiaries over the next two years. In late May company chairman Rama Prasad Goenka told media that this investment was part of the group’s expansion programme, and that from the disclosed total, Rs 20 billion would be directed towards the Ceat Tyres operation and Rs 10 billion to Philips Carbon Black.

The investment was necessary if the company was to remain competitive following the government’s liberalisation, privatisation and globalisation policies, he said. The group was, he added, aiming to increase productivity, quality and facilities to workers by the expansion.

12th June 2008/by Tyrepress Editors

Indian Tyremakers Raise Prices with Rubber Soaring

Tyre manufacturers in India are responding to the sustained, near-record input cost of rubber by raising product prices.

Having already raised prices on truck tyres by 2 per cent on 1 June, Ceat Ltd plans to raise prices on other tyres by between 2 and 5 per cent on 10 June. Natural rubber costs are blamed for the hikes, having risen 31 per cent this year. Other companies to have raised prices in recent months include MRF Ltd and Apollo Tyres. In addition, AS Mehta, Marketing Director for JK Tyre told news agencies that the company is considering a further increase in June, following a cross-segment hike in April.

6th June 2008/by Tyrepress Editors

International Tyre Exhibitors Sign Up for Tyrexpo Asia’09

International exhibitors are already confirming plans for the new products and displays designed to catch the eye of tyre industry buyers at next year’s Tyrexpo Asia March’09 exhibition. For Singapore-based manufacturer and distributor Omni United, the sales focus next March has already been agreed as its Radar ranges of bus and truck tyres, designed in India and manufactured in China. Radar OTR tyres will also form a very prominent stand presence, with products ranging in size to cover mining and industrial equipment from 21 to giant 57-inch wheel sizes.

Confirming the company’s plans, senior vice president, Shivi Kalra said: “Tyrexpo Asia’09 is an important opportunity to interact with current customers, showcase our expanding ranges of products and meet potential new customers. Next year the focus will be on our ranges of SUV, PCR, TBR and OTR tires – all marketed under our Radar private brand range.”

5th June 2008/by Tyrepress Editors