China Archives - Page 105 of 244 - Tyrepress

Now one of the largest tyre-producing countries in the world, China has an indisputable influence on the direction of global tyre trade. The home of both fast-growing up-and-coming brands as well as a burgeoning domestic market, this tag chronicles China’s involvement with the tyre business.

Posts

JK Tyre ‘zeroing in’ on rubber plantation acquisitions

In addition to reporting its financial results for the quarter ending June 30, at JK Tyre & Industries’ annual general meeting the company shared its plans to acquire natural rubber plantations in Southeast Asia. Vice-chairman and managing director Raghupati Singhania told the broadsheet DNA at the 30 July meeting that the tyre maker has identified plantations of interest in Malaysia, Indonesia and Vietnam and is “now zeroing in on them.” The company intends to source 10 to 15 per cent of its natural rubber from these plantations.

31st July 2012/by Tyrepress Editors

Work starts on latest Hangzhou Zhongce factory

The China Rubber Industry Association reports that Hangzhou Zhongce began work on a new facility in China on June 15. The first phase of the project is expected to be complete by the end of next year, at which the plant will be capable of producing ten million high performance passenger car tyres and light truck tyres. An investment of RMB 2.4 billion (£240.8 million) is required for this initial phase; in total, the project will take six to eight years to complete and involve an investment of RMB 8 billion (£802.9 million). First phase annual sales are expected to reach RMB 4 billion (£401.5 million), growing to over RMB 20 billion when the project is complete.

30th July 2012/by Tyrepress Editors

Kumho aiming for 15% of China’s premium market

Guangzhou, China-based newspaper Yangcheng Evening News reports that Kumho intends to capture 15 per cent of China’s high-end tyre market. The newspaper quoted an unknown company source as saying Kumho is increasing its activities in this area, and as part of this it intends to open 350 new retail outlets in China by the end of the year.

25th July 2012/by Tyrepress Editors

Sumitomo’s second Chinese plant enters service

On 16 July Sumitomo Rubber Industries officially opened its second tyre factory in China. The Sumitomo Rubber (Hunan) Co. Ltd plant, located in the city of Changsha, is set up for the manufacture of passenger car tyres. Production got underway in July and plant capacity will reach 15,000 units a day by the end of next year. Full stage one capacity of 30,000 units a day is expected to be attained by the end of 2015. A total of some US$297 million is being invested in the 550,000 square metre, 100 per cent Sumitomo-owned facility.

25th July 2012/by Tyrepress Editors

Sailun confirms Jinyu and Shenyang double acquisition

Company News, International News, News

Following earlier reports suggesting Sailun Company Ltd had bought two other Chinese tyre firms, Sailun representatives have confirmed that the Chinese tyre manufacturer has entered into a “framework agreement” to acquire equity in both Shandong Jinyu Industrial Co. Ltd and Shenyang Peace Radial Tyre Manufacturing Co. Ltd. The framework was agreed on 10 July 2012.

24th July 2012/by Tyrepress Editors

Steinbichler presents Intact tyre testing system

German firm Steinbichler Optotechnik GmbH of Neubeuern has been engaged in the supply of high-precision optical measuring and sensor technology for quarter of a century and the tyre industry, along with the automotive and aviation industries, is a main beneficiary of its solutions. The company reports a successful week at June’s Reifen 2012 trade show and says this year’s show delivered even better results than previous events. The show also offered Steinbichler an excellent opportunity to present its new ‘Steinbichler Intact’ tyre testing systems to existing and prospective customers.

23rd July 2012/by Tyrepress Editors

CRIA, Lanxess to collaborate on Chinese tyre label

Lanxess reports it will work with the China Rubber Industry Association (CRIA) towards developing and implementing tyre labelling in China. The two parties signed a letter of intent on 13 July, and the German specialty chemicals and synthetic rubber specialist says it and the CRIA have “agreed to cooperate closely on sharing knowledge and expertise” in this area.

20th July 2012/by Tyrepress Editors

Linglong, Aeolus amongst top 500 Chinese brands

On 28 June brand valuation consultancy World Brand Lab announced its ninth annual list of China's 500 most valuable brands. Amongst the good and the great appearing on the list were Shandong Linglong Tyre and Aeolus Tyre, producers of the Linglong and Aeolus brands. It position in 128th place secured Shandong Linglong the highest ranking of any Chinese tyre maker. The company reports its brand equity as being RMB 11.652 billion (£1.18 billion). Aeolus Tyre climbed nine places from last year to 206th place, and boasts brand equity of RMB 6.416 billion (£648.41 million).

20th July 2012/by Tyrepress Editors

Bridgestone’s Ohashi, Takeda swap jobs

Amongst a raft of personnel changes announced by Bridgestone on 20 July is one affecting former Bridgestone Europe CEO and president Makio Ohasi. The ex-Bridgestone Europe boss has held the post of vice-president and officer of the company’s Asia Pacific, China, Middle East, Africa and Russia Tire Business Operations division since the start of the year, and concurrently served as a director within the division. Effective 1 September, Ohasi will relinquish these roles and take on the position of vice-president, officer and chief quality officer Specialty Tire Business.

20th July 2012/by Tyrepress Editors

Trelleborg declares Q2 a ‘strong quarter’

Trelleborg president and CEO Peter Nilsson has reported a “strong quarter” for the Swedish company. During the second quarter of 2012 the firm’s sales rose slightly to SEK 5.66 billion (£520 million) while operating profit increased 34 per cent to SEK 875 million (£80 million). Net profit amounted to SEK 712 million (£65 million).

19th July 2012/by Tyrepress Editors

Throw the book at the bad guys…

Editorial/Comment

It is not often that a tyre journalist gets to take a turn at being TV critic, but July’s Panorama documentary focusing on tyre dumping was one such opportunity. This month’s Tyres & Accessories gives the 30 minute documentary the full treatment in the UK section of the forthcoming August magazine, however the issues raised are worth discussing in more detail.

17th July 2012/by Tyrepress Editors

Sailun to grow through acquisitions

International News, News

On 10 July Sailun Co Ltd. announced its entry into an agreement to acquire another Chinese tyre maker and also purchase a large share in a third company. In separate statements, Sailun said it will buy Shenyang Peace Radial Tyre Manufacturing Co. Ltd. for about RMB 120 million (£12.2 million) and acquire 49 per cent equity in Shandong Jinyu Industrial Co. Ltd. for around RMB 200 million (£20.3 million). Shenyang Peace has annual capacity of 1.2 million all-steel radial truck tyres, while Shandong Jinyu has capacity to produce three million all-steel radials and 10 million semi-steel radials per year.

17th July 2012/by Tyrepress Editors

Peter Becker appointed head of Kumho’s European R&D

Former Apollo Vredestein head of R&D, Peter Becker, has taken on the role of research and development director at Kumho Tyres. Becker’s key task in his new position is the setting up of Kumho’s European Technical Center in Mörfelden-Walldorf, Germany, the tyre maker’s replacement for its now-closed centre in Birmingham. The 53-year old will lead Kumho Tyres’ activities in the areas of tyre technology, research and product development and work closely with Kumho’s design teams in Korea, China and North America. The team working under Becker will focus on developing optimal products for the European replacement and original equipment markets.

17th July 2012/by Tyrepress Editors

ČGS reports growth in all Mitas segments during 2011

In ČGS Holding’s freshly-published 2011 annual report, the Czech Republic-based parent company of tyre maker Mitas a.s. reported its tyre division “successfully continued in its strategy to become a leading global producer of off-road tyres, significantly increased sales and launched major investment projects.”

16th July 2012/by Tyrepress Editors

Anti-dumping policies push Hangzhou Zhongce towards overseas production

Shen Jin-Rong, chairman of Hangzhou Zhongce Rubber, has spoken out in opposition to anti-dumping measures against Chinese tyres undertaken by countries such as India, Brazil and Colombia. Chen declared that such measures “do not work” and announced Hangzhou Zhongce will establish a manufacturing facility outside of China “mainly in order to circumvent anti-dumping.” Thailand has been named as the location for this new plant; Hangzhou Zhongce says it will erect a factory on a 67 acre site there at an investment cost of RMB 1 billion (£102 million).

13th July 2012/by Tyrepress Editors