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Ceat Seeks TBR Consultant

Ceat Ltd is seeking a foreign consultant to provide assistance in developing TBR technology. The company is in discussions with consultants in the US and Europe and, according to vice-president of Sales and Marketing Arnab Banerjee, they most likely will sign an agreement with one of them within the next two or three months.

However he added that this does not mean the Indian tyremaker’s earlier plans to tie up with leading international tyre majors for technical know how have been shelved. Ceat has been talking with a number of companies, including Pirelli, and will continue to do so. “We decided to work on the technology on our own in parallel so that we did not waste time in order to enter the market with our product range,” Banerjee explained.

The chosen consultant will work with Ceat’s research and development department on new TBR projects, including the establishment of a greenfield facility for TBR production. A number of potential sites have been shortlisted for this new factory, which will be ready to begin production in between two and two and a half years. The facility is projected to cost between £60 and £70 million.

9th July 2007/by Tyrepress Editors

Ceat Undeterred by Lack of TBR JV Partner

Indian tyremaker Ceat is considering going it alone in the establishment of a truck and bus radial facility if it is unable to find a joint venture partner. The company has set aside approximately £60 million for the project but to date has not made any commitment to work with another manufacturer.

Speaking to India’s Financial Express newspaper, Ceat’s president of sales and marketing, Arnab Banerjee, said, “We are in talks with some of the leading radial technology providers in the global arena. But we are yet to reach a consensus with any of them. If the joint venture option doesn’t work out, we will definitely explore the possibility of doing it ourselves.” He added that Ceat “have the skills and the know-how,” to establish a truck and bus radial facility without external assistance.

19th June 2007/by Tyrepress Editors

Ceat to Meet Aftermarket Demand through Outsourcing

When handed lemons, make lemonade…or when OE orders dwindle, produce tyres for the more profitable aftermarket. In spite of reports coming from India that vehicle makers are reducing output, Ceat Tyres – a company that traditionally has obtained about 20 per cent of its revenues from OE supply – is planning to increase its tyre production rather than cut it back.

“The least profitable sector for us has shrunk, giving us the opportunity to sell more to the more profitable ones,” said Arnab Banerjee, the company’s vice-president, sales & marketing. Ceat plans to boost its production in the short term through outsourcing, a necessary move while it awaits the construction of its own new facilities. “Looking at the robust replacement demand, right now we are unable to manufacture enough,” Banerjee added. “My number one priority is to secure supplies through outsourcing, since the two greenfield plants we are planning to set up would come on stream only over the next two-three years,”

11th June 2007/by Tyrepress Editors

Slowing Vehicle Sales & Tyre Imports Squeezing Indian Tyremakers

The share market value of several Indian tyre manufacturers has fallen in the wake of news that domestic vehicle makers such as Tata Motors and Ashok Leyland are reducing their OE tyre orders. Vehicle sales in India have declined in the last year, with a 15-20 per cent fall in growth recorded. Shares in MRF Ltd fell 3.22 per cent on June 6, while stock in Ceat Tyres and JK Tyres fell by 5.07 and 3.68 per cent respectively. Apollo Tyres closed 0.81 per cent lower. “There will definitely be a little downturn in tyre stocks as auto stocks are all down,” said Ms Vaishali Jajoo, an automotive analyst with brokerage firm Angel Broking.

8th June 2007/by Tyrepress Editors

Ceat Ltd Joins TRIB

CEAT, Ltd. has joined the Tire Retread & Repair Information Bureau (TRIB), bringing TRIB’s membership to 470 members in 46 countries. “TRIB continues to grow internationally as more and more companies in the new tire and retread industries throughout the world realize that TRIB is the only international retread industry association representing new tyre manufacturers, retreaders and tyre repair companies,” said Harvey Brodsky, TRIB’s Managing Director. “We especially appreciate the support we receive from new tyre manufacturers such as CEAT, Ltd, since it underscores the importance they place on retreading as part of the life cycle of a tyre,” he added.

15th May 2007/by Tyrepress Editors

Thai Hua Rubber – Set to Tap the Boom

(India/Rubber Asia) Thai Hua Rubber (THR), a leading natural rubber supplier to tyre manufacturers, is making vigorous efforts to emerge as a top global player by tapping the enduring NR boom to its maximum. “Our idea is to emerge as a dominant global player covering the entire rubber business cycle as fast as we can and in the most credible manner,” says Mr Luckchai Kittipol, the company’s ever dynamic founder and CEO.

The latest plans include major marketing forays into China and India, the emerging power centres of global rubber industry and ambitious plantation initiatives in potential Asian countries. For instance, in Laos, the company will be investing US$50 million to develop NR plantations in 40,000 hectares during the current decade.

9th May 2007/by Tyrepress Editors

Ceat Shows Interest in China

Ceat, India’s fourth largest tyre manufacturer, has its eye on acquiring or entering into a partnership with a tyremaker in China. Such a move would benefit Ceat considerably, and the company believes that the additional capacity this would bring, along with removing bottlenecks in supply and improving the company’s product mix, enable Ceat to place a greater focus upon exports and increase both volume of production and profit margins.

Arnab Banerjee, the company’s vice-president of sales and marketing said “China provides a big opportunity. We may look at options for a possible partnership or even an acquisition.” A presence in China would provide Ceat with a foothold in a market undergoing even more dynamic changes than India. China is currently the world’s largest producer of tyres, with more than 4.5 million tonnes of rubber utilised last year.

24th April 2007/by Tyrepress Editors

Ceat Identified as Strong in OTR Sector

The online stock broking firm India Infoline has recommended Ceat Ltd as a recommended buy only a day or so after making a similar recommendation regarding Apollo Tyre. India Infoline describe Ceat as a ‘diversified tyre major’ who is ‘ramping up its production facilities to benefit from the uptrend in [the] automobile industry,’ and claims the tyremaker has plans in the pipeline that will see its OTR capacity more than doubled from 40,000 to 100,000 units per year.

Tyres & Accessories has previously reported on the company’s intention to establish three new greenfield facilities, one of which would function as a ‘speciality tyre’ plant for OTR tyres. In addition to OTR investment Ceat intends to spend Rs200 million (£2.4 million) upgrading its passenger car tyre production facilities and increasing output in this segment.

19th April 2007/by Tyrepress Editors

Ceat to Build Third Indian Facility

India’s Ceat Tyres is investing approximately £70 million to £80 million in the establishment of the company’s third domestic Greenfield plant. The decision to build such a facility has been prompted by the global demand for commercial vehicle tyres, which the company intends to produce at the new site. Passenger car radials will also be produced at the facility. The Ceat group is presently looking for a suitable site in the states of Maharashtra, Gujarat or the excise-free zones of Uttarakhand. The new capacity will boost the company’s current overall capacity by 100 tonnes per day to 400 tonnes per day.

15th March 2007/by Tyrepress Editors

MRF Raises Prices, Warns of Further Increases

Indian tyre major MRF has raised the prices of truck tyres and some other tyre sizes in an attempt to offset the impact of high rubber prices, but a senior company official has indicated that this increase is still not sufficient. Prices will rise by one per cent, but the company reportedly may again increase prices at the end of February, following the presentation of India’s federal budget.

20th February 2007/by Tyrepress Editors

Ceat OE Supplier for Global Automobiles PVT Ltd

CEAT Ltd. has wrested the rights to become the official OE Supplier for Global Automobiles PVT Ltd. In keeping with the requirements of the Indian Market, Global Automobiles PVT Ltd plans to enter the market with three variants of their two-wheeler product, that is, 100cc, 125cc, 150cc motorcycles.

A joint venture to set up this two-wheeler project at Chinsura in Hooghly district was signed between the city-based Global Automobiles Pvt Ltd, a wholly owned subsidiary of the Xenitis Group and Guangzhou Motors Company of China in November 2005.

15th February 2007/by Tyrepress Editors

Indian Tyre Market Remains a Closed Market

Since the “Dunlop Rubber Company (India)” was registered in 1926 as the first tyre manufacturer in India – when the country was still a British crown colony – the local tyre market has developed into an important but at the same time somewhat backward market. The sheer size of the market makes it internationally important, but Indian products are rarely sold in the most advanced Western markets. However, in the recent past some manufacturers have invested and continue to invest strongly into new technology in order to tackle problems such as low margins, growing competition from Western companies coming to India and increasing imports from low-cost countries such as China. This process of international adaptation and adjustment on the part of Indian tyre makers has already begun to bear fruit. Nevertheless, the Indian tyre market remains what it always has been: an almost completely closed market and an oligopoly whose future direction is difficult to foresee.

7th February 2007/by Tyrepress Editors

MRF Ltd. – Benchmark for the Indian Tyre Market

MRF Ltd. has been India’s most important tyre manufacturer since the industry’s earliest days in the subcontinent. The company was founded in the city of Chennai, previously known as Madras – hence the abbreviation MRF, which is short for “Madras Rubber Factory”. Today the manufacturer can proudly look back at its 60 years of history, and also show pride in its current annual turnover of 42.5 billion rupees (£486 million). According to analysts, MRF today holds a 24 per cent slice of the Indian tyre market and is also very active in export business as well as motorsports. Company sources state that MRF currently exports its products to 75 countries.

5th February 2007/by Tyrepress Editors

Ceat Sets Out Expansion Plans

Ceat Limited has outlined a £76 million capital expenditure plan spread over the next three years. The plan includes setting up of two greenfield plants, one for radials and the other for speciality tyres. This is a more ambitious plan than previously reported, as the company was expected to establish a single plant where all the above-mentioned activities would take place.

30th January 2007/by Tyrepress Editors

Textiles Firm to Enter Tyre Business

Indian textiles company Gupta Synthetics seems set to be entering the tyre raw materials market after announcing plans to invest 2.23 billion rupees (£25.5 million) to set up a nylon tyre cord fabric (NTCF) making and nylon filament yarn (NFY) making factory in the city of Silvassa.

The facility will produce the cord fabric and yarn for the tyre, textile and furniture industries and will have an output capacity of 8,128 tonnes per year. The NFY side of the operations should be producing output by October 2007 while NTCF production fabric will commence in 2008.

18th December 2006/by Tyrepress Editors