China Archives - Page 115 of 241 - 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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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

Annunziato to replace Ohashi as Bridgestone Europe chief

As of 1 January, 2012, Makio “Mac” Ohashi will end his tenure as CEO and president of Bridgestone Europe NV/SA. He will be succeeded in this role by Franco Annunziato, who is now chief quality officer and senior vice-president – technology at Bridgestone Europe as well as managing director of Bridgestone Technical Center Europe S.p.A. After taking on Ohashi’s current duties, Annunziato will remain chief quality officer of Bridgestone Europe and managing director at the Technical Center Europe. Annunziato also serves as a vice-president and officer of Bridgestone Corporation.

17th October 2011/by Tyrepress Editors

USW questions tyre tariff opponent’s ‘conflicting position’

Campaigning for the next US presidential election is underway, and even candidates’ positions on tyre-related issues are being held up to the light for further examination. One candidate to find this out is Republican hopeful Mitt Romney, who has been criticised by United Steelworkers (USW) International president Leo W. Gerard over inconguencies between current campaign claims and his previous position on Chinese tyre tariffs.

14th October 2011/by Tyrepress Editors

Pirelli investing $500m in Argentina greenfield project

Pirelli has announced plans to invest some $500 million in a new truck tyre factory in Argentina that will meet increasing demand for commercial vehicle radials there and in the surrounding region. Construction of the new facility is scheduled to begin early next year and the first phase of development, which will continue until 2014, will require an investment of $300 million in order to give the plant a 700,000 unit per annum production capacity. Second phase development is expected to double the plant’s capacity through an additional $200 million investment and increase its workforce from 700 to 1,200 people.

14th October 2011/by Tyrepress Editors

Profits fall at large Chinese tyremakers

International News, News

The total profits of seven Chinese tyre makers fell in the first half of 2011 compared to a year ago, despite higher revenues. The seven tyre makers included Double Coin Holdings, Aeolus, Qingdao Double Star and ST Yellow Sea. Yellow Sea was reportedly the only one of the seven to report a overall loss, according to news reports.

13th October 2011/by Tyrepress Editors

Report: 2010’s new car sales helped repair puncture in tyre market

Higher new vehicle registrations in 2010 helped to repair a price deflation puncture in the UK tyre and tube market in 2009. According to a new report published by Key Note, the tough economic conditions in 2009 resulted in the UK market value for tyres and tubes deflating by 8.4 per cent at manufacturers’ selling prices (msp). Their view is that a boost in new vehicle registrations in 2010 and inflationary price increases helped the apparent market undo this, growing by 12.6 per cent in 2010.

13th October 2011/by Tyrepress Editors

And then there were two – ShengdaTech reports Board resignation

China-based nano-precipitated calcium carbonate manufacturer ShengdaTech, which in August filed for bankruptcy under Chapter 11 of the US Bankruptcy Code, reports the resignation of a member of its Board of Directors, Mr. Dongquan Zhang. The resignation took effect on October 8; at the same time, Zhang effectively resigned as a member of all standing ShengdaTech committees. The remaining members of the company's Board of Directors are A. Carl Mudd and Sheldon B. Saidman.

13th October 2011/by Tyrepress Editors

Gajah Tunggal accused of covenant breach, Moody’s considering rating downgrade

Moody's Investors Service has placed PT Gajah Tunggal Tbk's B3 corporate family and senior secured ratings on review for possible downgrade. According to a report published in Indonesia Today, this review action follows “the payment of a dividend to shareholders seemingly in contravention of the covenants of its restructured bonds launched in June 2009, and the resulting alleged claim of covenant breach by an anonymous bondholder.”

12th October 2011/by Tyrepress Editors

Starco setting up solid tyre plant in Sri Lanka

Danish firm Starco’s strategy for the years 2010 to 2014 is to grow its aftermarket business from 40 to 50 per cent of the total and to double turnover by 100 million to 200 million euros by 2014. As part of its global strategy, the company has announced the establishment of a tyre manufacturing plant in Sri Lanka. The new plant, which represents an initial capital investment of around two million euros, will specialise in the manufacture of solid rubber tyres. These will be marketed worldwide under the Starco brand name.

12th October 2011/by Tyrepress Editors

Varta wins industry awards for start-stop batteries

Varta’s start-stop batteries have scooped two industry awards, reinforcing the brand’s prominence in both the OE and European aftermarket. Heading the accolades is a bronze Edison Best New Product Award in the Energy and Sustainability category. The annual Edison Awards are one of the most renowned business prizes, with the jury honouring the most progressive, creative and successful products and services from industry and commerce.

11th October 2011/by Tyrepress Editors