China Archives - Page 113 of 240 - 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.

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Management changes at Norbar

Norbar Torque Tools has announced that Catherine Rohll has been appointed to the company’s board as commercial director, strengthening the family management team. She will hold the position jointly with her cousin Craig Brodey until he moves to Norbar’s Australian head office in Adelaide to work with the existing operation, supporting business growth for the company in the South East Asia region. He will take up his new appointment as commercial director for Australia in January 2012.

1st November 2011/by Tyrepress Editors

Cost advantage of Chinese tyres has ‘narrowed’, says Cooper

Although the United States tariff on imported Chinese consumer tyres is scheduled to end next year and import duties will thus drop from 29 to four per cent, Chinese manufactured tyres are not expected to regain the massive competitive advantage they once held over their US-made counterparts. During a quarter results conference call, Cooper Tire & Rubber chairman, chief executive officer and president Roy Armes commented that tyres produced in China held a 15 to 20 per cent cost advantage over locally produced tyres in the US market in early 2009. “Now it is in that 10 per cent to 15 per cent range,” he shared. Chief financial officer Brad Hughes added that the cost advantage for a landed tyre from China in the US was “moving towards” 10 per cent.

1st November 2011/by Tyrepress Editors

Michelin reaffirms 8% 2011 sales growth

Michelin’s third quarter financial report for 2011 has shown total net sales of 5.1 billion euros and nine-month total sales of 15.2 billion euros, figures that represent positive changes of 10.6 per cent and 17.3 per cent for their respective periods. Sales volumes were up 9.3 per cent, allowing the French giant to proclaim its results “solid” and to reaffirm “that growth in sales volumes should trend towards eight per cent by year end.” The company noted the “slower momentum” of the third quarter, particularly noticeable in the passenger car and light truck tyres segment, which was up only 5.9 per cent to 2.7 billion euros in the quarter. Michelin also said its “pricing policy added 10 per cent to nine-month sales growth”, offsetting “the full-year impact of higher raw materials costs”.

31st October 2011/by Tyrepress Editors

Westlake support ‘a boost’ for Brityrex 2012

Westlake Tyres, which are manufacturer by ZC Rubber (China largest domestic producer and number 10 in the world), has confirmed that it will exhibit at next October’s Brityrex International exhibition in Manchester. The latest news is being interpreted as a real boost for the 2012 Brityrex exhibition as ZC Rubber is a fast-growing international player with annual sales in 2010 of more than US$ 3 billion.

31st October 2011/by Tyrepress Editors

Degenhart targeting above-average growth in India for Conti

Continental AG chief Elmar Degenhart has said the company will target above-average profitable growth in BRIC countries, especially in China and other Asian countries, Tire Review reports. In a recent visit to India, Degenhart, executive board chairman, stated that BRIC countries are at the centre of focus for the company‘s growth strategy.

28th October 2011/by Tyrepress Editors

New trade deal will aid US doing tyre business with South Korea

International News

TIA says that the renewed free trade deal with South Korea is a good deal for the U.S. tyre market. President Obama signed the renewal of the U.S. Generalized System of Preferences (GSP), which was part of a trade pact originally agreed to between the U.S. and South Korea in 2007 – Korean-United States Free Trade Agreement.

26th October 2011/by Tyrepress Editors

Nexen supports the ‘Pink Ribbon’ campaign in Korea

Nexen Tyre Corporation is supporting the ‘Pink Ribbon’ international campaign against breast cancer in Korea for the first time. Tyre manufacturer Nexen Tyre said it wants to increase awareness of the illness and highlight the importance of check-ups.

25th October 2011/by Tyrepress Editors

Evergreen prepares for further growth

With its “Evergreen” brand, Chinese tyre manufacturer Shandong Jinyu is making a voluntary environmental commitment. As the company explained at the CITExpo show, which took place in Shanghai during September, it has committed itself to use the most environmentally-friendly materials possible in the production of its Evergreen brand passenger car and truck tyres and has simultaneously introduced environmentally-friendly production processes at its factory in Dawang, in China’s Shandong Province.

25th October 2011/by Tyrepress Editors

Bridgestone details spending with aircraft, mining expansion plans

Bridgestone has followed up its September “major strategic investment” announcement, detailing the $1.2 billion it will spend on OTR production facilities in North Carolina, with more details that suggest record spending levels to meet rising demand in emerging markets. The corporation released its Mid-term Management Plan 2011, covering the period 2012-2016 in which it set a target of a 6 per cent return on assets next year. The plan detailed “measures for expanding sales of strategic tyre products and improving its sales mix, maximizing operational rationalization, and thoroughly streamlining company assets.”

21st October 2011/by Tyrepress Editors

United Steelworkers chief seeks Triangle Akron plans delay

United Steelworkers (USW) president Leo Gerard has asked the Obama administration to coordinate an inquiry into the recent agreement between the University of Akron and China’s Triangle Group, reports Tire Review. In a 12 October letter written to Gene Sperling, director of the National Economic Council, Gerard stated: “Polymer research has critical economic and national security applications and the transfer of technology contemplated by this relationship demands strict scrutiny.”

20th October 2011/by Tyrepress Editors

ETRMA: Non REACH compliant tyres still entering Europe

On 16 October ETRMA (European Tyre and Rubber Manufacturers' Association) announced the results of its second round of tyre testing examining REACH compliance of tyres found within Europe. ETRMA’s results show that roughly 10 per cent of the sample failed to comply with the clean oil legislation, around the same proportion as failed the last set of tests held earlier this year. However while ETRMA raised concerns about both compliance and enforcement of REACH regulations, some of the companies named in the report have already responded to accusations of compliance failure by raising questions of their own about the way in which the sample was selected.

ETRMA’s second testing campaign was carried out between April and September 2011 on a sample of 94 tyres available for sale to EU consumers in several of the largest national tyre markets. These tyres were all produced in late 2010 and 2011 in 50 factories located in 11 countries, and are being sold in the EU under 51 brand names (these include 31 brands not tested in the first round). The first round of tyre compliance tests the ETRMA conducted took place in March 2011 and followed a similar approach.

20th October 2011/by Tyrepress Editors

Longxing Chemical aiming to raise 400 million yuan in share issue

China’s Longxing Chemical Industry, which supplies carbon black and electricity to “major tyre makers” in the people’s republic is reportedly planning to raise 400 million yuan by issuing a maximum of 45 million shares at 9.26 yuan per share in a private placement.

19th October 2011/by Tyrepress Editors

Selleck assumes Michelin North America leadership

On October 17, Michelin North America’s Richard Wilkerson handed over the top job in the company to Pete Selleck. US-born Selleck, previously president of Michelin’s Truck and Bus division, returned from his France-based position to take over as chairman and president of Michelin North America after Wilkerson announced his intention to retire. As chairman and president, Selleck assumes responsibility for coordinating all Michelin activities in Canada, Mexico and the United States; Wilkerson remains with Michelin as chairman emeritus.

18th October 2011/by Tyrepress Editors

Bridgestone Europe names first COO

As reported yesterday, a new CEO and president is set to replace Makio (Mac) Ohashi at the helm of Bridgestone Europe (BSEU) at the start of January 2012. This change of top management will be accompanied by the creation of a new position within the company, that of chief operating officer. Bridgestone Europe has named Mitsuhira (Mike) Shimazaki as the first incumbent in this newly-created position. As COO, the current senior vice-president of Sales and Marketing at Bridgestone Europe will continue to manage the company’s Sales and Marketing organisations and additionally assume responsibility for Manufacturing and Supply Chain Management.

18th October 2011/by Tyrepress Editors

Toyo signs deal to develop Nitto brand in China

The five-year plan for Toyo Tire & Rubber’s Nitto brand leading up to 2015 is to increase sales volume some 250 per cent from its current level of 6.75 million tyres per annum, an increase that will see the Nitto brand’s proportion of total Toyo sales grow from nine to 15 per cent. To achieve this, the tyre maker intends to boost sales in its established North American market plus introduce the brand into other regions, including Asia, South America and Oceania.

17th October 2011/by Tyrepress Editors