China Archives - Page 116 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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Continental to focus investment on Asian markets

Continental AG plans to focus its near-term investments on the Asian markets, according to board member Heinz-Gerhard Wente. In a Bloomberg report, Wente noted that sales in Asia will likely represent a third of the corporation’s total revenues.

“While Europe will remain the biggest market for Continental, next year might ‘bring some problems’ because of a possible economic slowdown triggered by the sovereign-debt crisis,” the Bloomberg story said. It would not be “a dramatic downturn,” though.

11th October 2011/by Tyrepress Editors

MRF considering international, including European, acquisition options

MRF Ltd is reportedly considering a number of overseas acquisitions options. According to various Indian news reports, top of the list are tyre plants and rubber plantations in moves that will form part of the company’s global expansion plans.

11th October 2011/by Tyrepress Editors

Analysts: Conti’s global expansion plans require 930 million euros investment over 3 years

Following the news that has announced plans to build a US$500 million passenger car tyre plant in the South Carolina between now and 2021, financial analysts have added their view on what the manufacturing plans means for the automotive supplier’s profitability.

10th October 2011/by Tyrepress Editors

Rubber prices remain stable, Thai floods make little impact

Recent flooding in Thailand has had less impact on natural rubber prices than may have been inspective. Deutsche Bank research shows that the impact on rubber supply has been “quite muted” and flooding around key plantations is not severe. As a result the spot price for natural rubber has reportedly continued its declining trend, hovering around US$4/kilo – a level last seen in March 2011.

7th October 2011/by Tyrepress Editors

MAXAM and Stamford in South African distribution deal

MAXAM Tire International S.a.r.l, the Luxembourg-based manufacturer of all-steel radial OTR tyres, has appointed Stamford Tyres (Africa) Pty Ltd as the company's dealer for the South African market.

The deal was welcomed by Wee Kok Wah, president of Stamford Tyres, and Ian Thomas, CEO of MAXAM Tire International. Said Ian Thomas: "We are delighted to have signed this agreement with Stamford Tyres as they are one of the largest specialist OTR tyre suppliers in South Africa, with warehouses in Cape Town, Durban and Johannesburg. I am confident that, by working closely together we can raise the profile and awareness of MAXAM in the country."

6th October 2011/by Tyrepress Editors

European output up, but Michelin exposed in NA, not enough in emerging markets

Following Michelin’s investor’s day briefing at its Cuneo, Italy factory on 5 October financial analysts suggested that while the good news is that Michelin’s European production is up and increasingly efficient, the company remains over-exposed amidst the ailing demand of the North American markets and conversely not exposed enough in the emerging markets.

6th October 2011/by Tyrepress Editors

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