China Archives - Page 115 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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Emerging markets, Tier 3 central to Michelin growth

At its most recent Investors Day, held at the company’s Cuneo site in Italy, Michelin confirmed its growth outlook for the coming decade. The French tyre major anticipates the global passenger car and light commercial vehicle tyre market reaching 1.5 billion units in 2015, a figure representing a 25 per cent growth on 2010 figures. Looking further ahead, an additional 20 per cent growth in the years between 2015 and 2020 is expected, with 1.8 billion tyres sold in this sector worldwide in 2020. Michelin notes that 70 per cent of this volume growth should occur in ‘new’ markets.

6th October 2011/by Tyrepress Editors

Credit agencies lower GITI Tire rating, Gajah Tunggal not affected

Credit agencies Fitch and Standard & Poor’s have altered their rating for GITI Tire Pte. Ltd. According to Fitch’s latest assessment, “GITI's liquidity is likely to remain strained over the next 12 months because of substantial cash outflows despite the refinancing of the company's notes.”

6th October 2011/by Tyrepress Editors

Hangzhou ZhongCe grows and grows – but prudently

Without exception, Chinese tyre manufacturers aim their European market production at the budget segment, where they are most competitive. However the ‘cover charge’ costs for entering the European market – the expensive testing for REACH and the tyre label – plus swelling production costs in China due to raw material and labour expenses are reducing their competitiveness in Europe. Any manufacturer wishing to build up long-term customer relationships and secure a healthy market share without needing to rely upon spot market brokers and purchasers must therefore focus upon their distribution channels and, in particular, deliver a product whose quality is far removed from the old ‘low budget equals low quality’ stereotype. One company already taking considerable steps in this direction is Hangzhou ZhongCe; recently the company allowed its European customers a glimpse behind the scenes at its factory in China and discussed its plans for the future.

5th October 2011/by Tyrepress Editors

CITExpo reports a positive show

The organiser of the China International Tire Expo, CITExpo for short, views this year’s tyre show in Shanghai positively. Reliable International Exhibition Services reports 7,190 visitors attended the ninth CITExpo, which was held at the Everbright Convention and Exhibition Center. Last year’s show attracted 7,400 visitors. Once again, around 60 per cent of visitors (4,160) came from China, and during the three show days in early September 3,030 international visitors from 103 countries registered. A total of 298 companies used CITExpo to present their products and services to the public, up from 290 the year before. Well-known exhibitors at this year’s show included Cooper Chengshan, Jinyu Tire Group/Evergreen, Guizhou Tyre, Techking Tires, Aufine Group, SD International, Van den Ban and the wheel producer Zhejiang Jingu; these companies occupied 22,000 square metres of floorspace in three almost completely booked out exhibition halls.

4th October 2011/by Tyrepress Editors

Is the sun setting in the East?

International News, News

Much has happened in the European tyre market in recent times. Last year’s introduction of the REACH regulations has been of particular interest, as is the run-up to November 2012’s tyre labeling. The second of these has been interpreted by many Chinese tyre makers and distributors as being, in practical terms, a trade barrier intended to make entry into Europe more complicated and expensive. Yet the Chinese appear to be responding pragmatically to the ‘problem’ of Europe. During the CITExpo show in Shanghai the opinion was often voiced that no real problem as such exists, rather a challenge to overcome. And as hardly anyone in China doubts success in this area, in future established western manufacturers in our part of the world can expect the presence of even more competitive, driven Chinese companies.

4th October 2011/by Tyrepress Editors

Commitment to the truck tyre segment

September’s official launch of numerous additions to the Pirelli :01 Series presented Tyres & Accessories with the opportunity to visit the Italian manufacturer’s production site in Izmit, Turkey, where some of the range is produced alongside passenger car and motorsport tyres. It also gave us the chance to sit down with Ugo Forner, who has worldwide responsibility for Pirelli’s ‘Truck’ business unit, and listen to his views on Pirelli’s plans and the changing nature of the global commercial vehicle business.

29th September 2011/by Tyrepress Editors

Vendetta Tyres prepares for wider European launch

If the team behind the “Vendetta Tyres“ brand had its way, deliveries to a large chunk of the European tyre market would have already got underway during the course of this year. Yet, as Laree Jane notes, success in Europe involves building up both a new brand and customer relationships, and the director of Melbourne, Australia-based Vendetta International Pty. Ltd is confident of achieving this soon. Sales of Vendetta tyres began last year in the Australian home market and the brand will shortly be present in Canada, Argentina and Ireland, Vendetta’s first market in Europe. Vendetta International now has its eyes on entering further replacement markets; the company is seeking agencies in the UK and other European countries. Speaking with Tyres & Accessories, Laree Jane explained the company’s plans for Europe and what Vendetta International has to offer.

27th September 2011/by Tyrepress Editors

Pirelli opens Milan fashion shop

Last week, Pirelli opened its very first Pirelli Corsa Venezia retail fashion shop. The 4 million euro store, located in Milan’s fashion district, is the final extension of the tyre maker’s “P Zero Project,” which began in 2002 with small line of shoes and apparel sold through third parties.

26th September 2011/by Tyrepress Editors

Hangzhou Zhongce ‘looking at Europe’ before proceeding with JV

According to unconfirmed news published by the Bangkok Post, concerns about an “uncertain outlook” in Europe may have prompted a postponement of the planned joint venture between China’s Hangzhou Zhongce and Thailand’s Thai Hua Rubber. In its September 26 article, ‘Chinese-Thai venture on hold’, the newspaper reports Thai Hua CEO Luckchai Kittipol as saying investment in the joint venture has been suspended as Hangzhou Zhongce wishes to monitor European economic conditions.

26th September 2011/by Tyrepress Editors

Marangoni consolidates European presence, renames Ellerbrock

As of 1 September 2011, Ellerbrock Reifenrunderneuerungs-Technologie GmhH, which was acquired by the Marangoni Group in the early 1990s, officially began trading under the name Marangoni Retreading Systems Deutschland GmbH. And in order to explain the rationale for this move, its recent performance and the company’s vision for the future, Marangoni invited Tyres & Accessories to see the fast growing Marangoni Retreading Systems Deutschland operation first hand and hear from executives at the same time.

Marangoni Retreading Systems Deutschland’s facilities in Henstead-Urzburg cover an area of 26,500 square metres, with an additional 13,500 square metres occupied an accompanying logistics centre. The facility, which currently employs 120 people, manufactures Profil Liner pre-cured tread strips and Marangoni’s trademark pre-cured rings for truck tyre retreading.

22nd September 2011/by Tyrepress Editors

CRIA: Chinese tyre market will be ‘tested’ in 2H 2011

International News, Legislation, News

Analysts believe that China’s tyre industry will face a severe test in the second half of this year. According to the China Rubber Industry Association (CRIA) statistics, in the first six months of 2011 member companies’ tyre production totalled 128 million units, of which 107 million were radial tyres. This represents year-on-year growth of 1.6 […]

16th September 2011/by Tyrepress Editors

Premium tyre sales on the up?

Years after the credit crunch bit and the recession took hold in the North America and Europe, financial analysts are asking if the de-segmentation phenomena that saw cheaper tyre sales increase could be coming to an end. So does this mean premium tyre sales are on the up?

13th September 2011/by Tyrepress Editors

Nexen Tyre opens warehouse in Fulda

Nexen Tyre Europe GmbH is aiming to offer faster tyre supply to its German customers after opening a 2,000 square metre warehouse in Fulda, which became operational last month.

The warehouse is designed to hold up to 50,000 tyres. Approximately 10,000 tyres can be packaged and dispatched every day by qualified warehouse operators. Delivery is made according to the quantity ordered by parcel service, either as a group freight delivery or as a lorry load.

9th September 2011/by Tyrepress Editors

Analysts: Michelin/Double Coin JV dramatically increases Chinese tyre capacity

Following yesterday’s confirmation of the news that Michelin and Double Coin have entered into a China-based tyre production joint venture, financial analysts shared their views about how this fits into the French tyre giant’s wider strategy. According to Deutsche Bank, the new joint venture run plant is already being built and is expected to cost approximately 390 million euros. The analysts also confirmed earlier reports that the factory will have a capacity of 15 million units annually. For the time being the agreement remains subject to approval by the appropriate Chinese authorities.

8th September 2011/by Tyrepress Editors

Double Coin, Michelin, Huayi JV finalized

The deal is done and a new tyre company has been born, thanks to the formalization of the proposed joint venture agreement between Groupe Michelin, Double Coin Holdings Ltd. and Shanghai Huayi (Group) Co. The newly minted Double Coin Group (Anhui) Warrior Tires Co. will produce Warrior brand passenger and light truck/SUV tyres, some of which will reach the North American market next year.

7th September 2011/by Tyrepress Editors