China Archives - Page 117 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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Triangle to establish US research, sales centres

Today the Triangle Group will officially launch its new US research, development and sales company. The Shandong province, China-based company then intends to begin its activities in North America with the establishment of a research and development centre in Akron, Ohio; this will be followed by sales offices. Triangle has already hired its first local employee and intends to start its US operations with 30 new local employees – 10 in research and development and 20 in sales. The number of employees is expected to grow as Triangle further establishes its North American operation.

19th August 2011/by Tyrepress Editors

Japanese tyre makers avoid share price carnage

Despite the fact that their homeland suffered the combined catastrophe of earthquake and tsunami earlier this year Japanese tyre makers faired surprisingly well at the stock exchange in August at a time when the share prices of virtually all the other tyre majors took a beating. (See “Bloodbath at the stock exchange”).

17th August 2011/by Tyrepress Editors

Bosch to acquire Unipoint Group

The Bosch Group’s Automotive Aftermarket division is set to acquire the Unipoint Group and its affiliated Unipoint and NSA brands for an undisclosed sum. An agreement confirming the deal between Bosch and the Unipoint Group, which produces starters, alternators, temperature control parts and wiper blades for the aftermarket, was signed on August 9.

16th August 2011/by Tyrepress Editors

Varta website designed to gives traders an edge

Johnson Controls believes it is now providing stockists with a competitive edge over rivals by making available all the materials needed to market their battery business to UK workshops, fleets and commercial operators, and motorcycle and marine specialists online.

15th August 2011/by Tyrepress Editors

Yokohama profits up 74% in Q1

The first quarter of the 2011 financial year saw Yokohama Rubber’s net income shoot up 74 per cent year-on-year to 2,822 million yen (£22.6 million). This sizable increase in income was driven by a 10.2 per cent increase in net sales in the three months to June 30; the company reports net sales of 129,394 million yen (£1.0 billion) during the quarter. This sales increase came mainly through the company’s tyre business, Yokohama Rubber notes. Operating income during the quarter was 4,140 million yen (£33.1 million), a 29.9 per cent decrease.

15th August 2011/by Tyrepress Editors

Material costs, muted growth a bottom line dampener for Apollo

Reporting its performance during the first quarter of India’s financial year, Apollo Tyres says net sales during the period were “robust”, increasing 55 per cent year-on-year to Rs 28.22 billion (£382.60 million). Despite this, factors such as all-time high natural rubber prices and “sluggish” growth in some markets dampened the company’s profitability in the three months between April 1 and June 30, 2011. Operating profit rose 20 per cent to Rs 2.42 billion (£32.81 million) while net profit was up 3.9 per cent in the quarter to Rs 771.28 million (£10.46 million).

11th August 2011/by Tyrepress Editors

Apollo signs lease on Laos rubber plantation

To secure its own supply of natural rubber, Apollo Tyres has leased approximately 10,000 hectares of land in the Southeast Asian country of Laos. Company chairman and managing director Onkar S Kanwar announced at Apollo Tyres’ Annual General Meeting on August 11 that the tyre maker has “actively entered the area of rubber plantations to try and secure future supplies.” Kanwar later noted that the yield from this rubber plantation would be ready for tapping in within two to seven years and that within five years Apollo plans to meet 25 per cent of its total natural rubber requirements from leased plantations. Reaching this level of self-sufficiency is viewed as a form of insurance – Kanwar opined that a crisis situation currently exists in India in regards to increasing raw material prices and natural rubber shortages.

11th August 2011/by Tyrepress Editors

Retreading important for conserving rubber resources, says Chinese association

Speaking with Chinese new site China Economic Net, Zhu Jun, head of the China Tyre Retreading, Repairing & Recycling Association, has highlighted the waste created by China’s low rate of retreading. Zhu Jun stated that, according to statistics at hand, in 2009 more than 230 million waste and end of life tyres were generated in China; of this only 13 million – some five per cent – were considered retreadable.

9th August 2011/by Tyrepress Editors

Analysts: Cooper 2Q results a ‘big miss'

“We had expected the second quarter to be tough…for Cooper given the weak second industry shipment numbers and adverse mix, but we were surprised by how weak it actually was,” was the stark verdict of analysts in response to Cooper Tire & Rubber’s most recent financials. This is exemplified in the company’s profitability results.

8th August 2011/by Tyrepress Editors

Hankook aiming for 25% of local market through Indonesian plant

In June Hankook Tire held a groundbreaking ceremony for a new tyre plant in Indonesia. While the Korean manufacturer has already shared plans to service the North American and Middle East markets from this facility, executive vice-president Hyun Bum Cho has told Indonesian journalists that it intends to secure a 25 per cent share in the domestic market through output from the plant.

8th August 2011/by Tyrepress Editors

Bridgestone to grow PCR capacity in China

In order to meet growing medium to long-term demand for passenger car radials, Bridgestone intends to increase production capacity at two of its factories in China. The Japanese company will invest a total of around RMB 1,617 million (£153 million) to lift capacity at its Tianjin, Bridgestone (Tianjin) Tire Co., Ltd and Bridgestone (Wuxi) Tire Co., Ltd facilities. The part of this additional capacity is expected to be available in May 2012 when a further 4,100 tyres per day capacity will be added to capacity at the Wuxi plant; this increase will be funded through a RMB 563 million investment and give the facility a total daily capacity of 16,300 tyres. Extra capacity at the Tianjin plant is expected to be available as of July 2012; the RMB 1,054 investment there will lift the factory’s production capacity by 8,800 tyres a day to a total of 25,300 per day. Bridgestone says it intends to particularly focus upon increasing production capacity for ‘eco-friendly’ tyres, such as its Ecopia range, at both facilities. It will also begin winter tyre production at the Tianjin plant.

8th August 2011/by Tyrepress Editors

Desser Tire & Rubber Co appointed Dunlop Distributor for the Americas

At the end of June, Desser Tire & Rubber Co., Inc. was appointed Dunlop distributor for The Americas. Desser Tire and Rubber Co., Inc., and its affiliate retread repair station, Aero Wheel and Brake Service Corp., Inc., join the world’s only specialist aircraft tyre manufacturer in providing new aircraft tyre distribution and retreading services to the expanding North and South American market.

4th August 2011/by Tyrepress Editors

New investment in Trelleborg brakes R&D Centre, Shanghai

Trelleborg has announced its continued investment in the Chinese market with the inauguration of its Shanghai research and development centre, which will offer state-of-the-art technology relating primarily to noise and vibration-damping brake solutions for passenger vehicles, according to a company statement. Trelleborg says that the continued investment in the region is reflective of its long-term strategy to invest in markets with favourable growth potential.

3rd August 2011/by Tyrepress Editors

‘Infinity is growing’: Euro-Tyre MD talks Infinity, Reach and the future

During a recent drifting event in The Netherlands, Frank van Leeuwen, managing director of Euro-Tyre, spoke about the relationship between his company and Infinity Tyres, their future together, and their combined approach to European legislation.

2nd August 2011/by Tyrepress Editors

Yokohama acquires YHI share in Chinese JVs

In order to fund other expansion programmes, YHI International Limited has sold its share in two joint-ventures it operated in China. In a disclosure made to the Singapore Exchange, YHI reports that on July 29 it entered into two agreements with Yokohama Rubber (China) Co. Ltd to sell Yokohama China its ten per cent stake in Hang Zhou Yokohama Tire Co Ltd and its 49 per cent share in Yokohama Tire Sales (Shanghai) Co. Ltd; the transaction will give Yokohama China 100 per cent equity in both joint venture operations. The stakes in Hang Zhou Yokohama and Yokohama Shanghai have been purchased for S$14,336,052 (£7.28 million) and S$7,999,944 (£4.06 million) respectively.

2nd August 2011/by Tyrepress Editors