Sonil Ventilfabrik Hosts 27th ITTAC Meeting
Sonil Ventilfabrik recently hosted the 27th Meeting of the Indian Tyre Technical Advisory Committees (ITTAC) Tube & Valve Sub-Committee. The event was held at the Sugati Beach Resort between 1 and 2 July.
CEAT Ltd.
Sonil Ventilfabrik recently hosted the 27th Meeting of the Indian Tyre Technical Advisory Committees (ITTAC) Tube & Valve Sub-Committee. The event was held at the Sugati Beach Resort between 1 and 2 July.
Ceat Ltd announced on Friday 4 June that its Sri Lankan investment arm – Associated Ceat Holdings Company Pvt Ltd (ACHL) – has become a wholly-owned subsidiary after it bought the remaining 4.5 million shares in the company. Ceat previously held a 54.84 per cent stake in ACHL. ACHL holds a 50 per cent stake in CEAT Kelani Associated Holdings Pvt Ltd, a joint venture with Sri Lanka's Kelani Tyres.
Indian business journal Mint asks the question – will the nation’s tyre makers be able to retain their margins during the 2011 fiscal year? The publication comments that, after falling in the March quarter, profit margins are looking set for another battering at the hands of rising rubber prices (up 70 per cent in one year and 150 per cent within the last 18 months, notes Mint) in the following quarter.
Michelin is planning to open “the first retread factory of importance opened in the Arabian Gulf, outside of the Kingdom of Saudi Arabia” in Oman. The truck tyre retread plant is expect to produce over 10,000 retreads a year combining “Michelin know-how and competent expert hands.” According to AMEInfo, the project is being enacted in partnership with Moshin Haider Darwish, Muscat, Sultanate of Oman; Central Trading Company, Dubai, United Arab Emirates; and Central Motors and Equipment, Abu Dhabi and United Arab Emirates.
Bridgestone has said that it will produce 1,500 more tyres per day and raise the price of its tyres by 3.5 per cent in India, according to a newswire issued by Dow Jones. The rise comes on the back of increased raw materials prices, Bridgestone India general manager of sales and marketing, Vaibhav Saraf told the assembled throng at a news conference, Dow Jones NewsPlus reports.
Indian tyre makers are putting up prices in response to the continued rise in the cost of natural rubber. Apollo Tyres is said to be increasing prices by between two and four per cent, although one online source states the Apollo prices will rise by up to seven per cent as early as May. During an interview, company vice chairman and managing director Neeraj Kanwar said further increases cannot be ruled out should the cost of rubber continue its upward course.
Rubberking Tyres India reports a successful 2010 show: "Tyrexpo Africa has always been a good platform for us to establish and promote our tyre brand and product range to the African market,” stated Dipti Jambhekar, Rubberking’s senior executive of international sales. “Though the number of visitors appeared to be less than normal, we were able to generate some serious quality inquiries, revive our relations with old customers and network with our existing ones.
India’s major tyre manufacturers have seen their shares jump up to 4.9 per cent in value today amidst reports of price hikes across the four biggest domestic names. Bloomberg UTV reports that Apollo Tyres (up 4.9 per cent), CEAT (2.54), JK Tyre (2.32) and MRF (1.61) all saw their stock rise in value, following reports that CEAT is raising its prices by between two and five per cent, while Apollo and JK Tyre are to make a decision later on the size of their price increases.
In order to best meet growing demand for its tyres in the Middle East region, Indian manufacturer CEAT has established a new Dubai office. The operation is to be headed up by Pawan Rana.
In recent times Guangdong Greatoo Molds Inc, the only tyre mould maker listed on the Shenzhen Stock Exchance, has increased its reach far beyond its native China. After expanding in India, where Greatoo has gained supply agreements with virtually all the leading tyre makers (including Apollo, Birla, CEAT, JK Tyre, MRF and BKT), this fast growing company is now aiming to become a truly global player after gaining some key contracts in Europe.
Speaking to senior technical consultant RNK Krishnan at November’s Reifen China show in Shanghai, Tyres & Accessories learnt that increased outsourcing amongst the world’s top ten tyremakers has led the company to build “good ties” with the majority of European tyre makers including Michelin, Continental, Pirelli and Marangoni.
With India’s auto sales back on the rise in September year-on-year comparisons, Rajiv Budhraja, director general of the Automotive Tyre Manufacturers Association, told the Press Trust of India that tyre consumption will follow “by five to six per cent in the next six to eight months”. The increase in auto sales has risen by 17.1 per cent overall in September 2009 compared with the month in 2008, while the rise was particularly felt in the passenger car segment, where that increase topped 20 per cent (Society of Indian Automobile Manufacturers figures).
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.
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.
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.
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 […]
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