China Archives - Page 129 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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TGI continues expanding its global presence

The maxim “location, location, location” is often quoted in relation to real estate, however it can equally apply to the success of a business. One company aware of this is Tire Group International, Inc. The Miami, Florida based wholesaler is active throughout the world, yet its location gives it particular strength in the Latin America and Caribbean regions. In recent times TGI has increased its focus on developing this geographic advantage to its full potential.

14th February 2011/by Tyrepress Editors

Nissan builds battery plant

Nissan Motor Co., Ltd., has begun construction of a state-of-the-art, advanced lithium-ion battery plant in Cacia, Portugal to support the rollout of electric vehicles from the Renault-Nissan Alliance in Europe, reports the headlineauto website. The battery plant is being built on a 30,450 sq. m. plot of land belonging to the Renault CACIA gearbox assembly plant following an investment of 156 million euros. The facility will start operations in December 2012 and will have a total capacity of 50,000 units a year. About 200 jobs are expected to be created by the new plant.

14th February 2011/by Tyrepress Editors

JK Tyre launches Asian race series

In a move it refers to as the “biggest announcement in Indian motorsport in recent times,” JK Tyre has officially launched the JK Racing Asia Series, a championship sponsored by the tyre maker and managed by Motorsport Asia, the region’s largest promoter and organiser of motorsport events. The series gets underway in April and the 2011 season will consist of 18 races held over six weekend events in Malaysia, Korea, Indonesia, China, Singapore and India. On three occasions the JK Racing Asia Series will support the Formula One Grand Prix.

14th February 2011/by Tyrepress Editors

Hankook UK focuses on brand, ups TV advertising budget 50%

Company News, UK News

After nine years of at the helm of Hankook Tyres UK Ltd, years that have seen the company grow from the position of a newcomer into a force to be reckoned, Richard Page has announced his retirement from the role of managing director. Tyres & Accessories understands that he will continue in a consultative role throughout what has been a pre-planned and progressive changeover into the capable hands of new MD Gang Seung Lee. In a recent visit to the Hankook UK headquarters T&A met with Mr Lee, who is commonly known as Tony Lee in the UK, and a freshly reshuffled management team to find about more about what’s in store for South Korean tyre manufacturer in 2011.

10th February 2011/by Tyrepress Editors

Jinyu Tyres ups prices 5-7%

China’s Jinyu Tyres became the latest manufacturer to announce a price increase when it wrote to customers on 8 February announcing that costs are on the up. The company’s first round of price increases will see the firm’s truck and bus radial prices increase by between 5 and 7 per cent, followed by a 6 – 7 per cent increase across the Jinyu’s passenger car radial range. According to company representatives, “TBR prices will see another change soon.”

9th February 2011/by Tyrepress Editors

Cheng Shin diverts expansion energy to PCR plant

Plans for Cheng Shin Rubber to establish a new truck tyre plant have apparently been ditched in favour of a passenger car tyre facility. The China Economic News Service reports that due to delays in land acquisition the Taiwan based manufacturer of the Maxxis tyre brand is currently not proceeding with the Changnan County truck tyre plant project; instead, the company will focus its attention on passenger car tyres with a new plant in the town of Touliu. The first stage of the facility is being built with an investment of NT$6 billion (₤128.5 million) and production is anticipated to commence in the third quarter of this year. Daily output will be between 12,000 and 18,000 tyres, CENS adds.

2nd February 2011/by Tyrepress Editors

Yokohama sales growth ‘more than compensates’ rising material costs

Sales for Yokohama Rubber’s tyre operations increase 13.7 per cent in the first nine months of the fiscal year ending March 31, 2011, the company reports. During the nine months to December 31, 2010 Yokohama recorded tyre business sales of 310.2 billion yen (₤2.36 billion) and operating income of 23.2 billion yen (₤176.42 million), up 37.4 per cent year on year. The company reports this sales growth came through gains both in its domestic Japanese and international markets and it more than offset the adverse effect on profitability caused by rising raw material prices as a strengthening yen. Domestic market sales were helped by an economic rebound and heavy snows, which prompted strong winter tyre sales, while overseas growth was most notable in the US and China.

2nd February 2011/by Tyrepress Editors

Hankook increases Group profits with record high sales

Hankook Tire made 585.8 billion Korean won (383.3 million euro) in financial year 2010 operating profit, the company has announced. Helping Hankook achieve these figures was a record-breaking global sales total of 5.4 trillion won (3.5 billion euro), which fulfilled its aggressive global sales target to exceed 5.1 trillion won and recording an 11.5 per cent year-on-year increase. The company’s 2010 operating profit represented a 6.7 per cent increase. Hankook also said it sold more tyres than ever before to the European markets produced at its new European plant in Hungary.

1st February 2011/by Tyrepress Editors

Hyundai, Ulsan – The largest car factory in the world

International News

With more than a quarter (11 million) of South Korea's population of around 40 million living in the capital Seoul and a further 1.1 million living in the country's capital of heavy industry Ulsan, it is clear the country's population s centred on its bustling metropolises. But while space can be found at a premium in the largest cities, the businesses that operate in each of these cities take advantage of the synergies available due to the close proximity of the workforce and other related companies.

1st February 2011/by Tyrepress Editors

Yokohama Philippines capacity to increase 143% by 2017

Capacity at Yokohama’s production site in the Philippines is to increase from seven million to ten million passenger car tyres per annum as a result of expansion work being carried out there in the next three years. This first phase expansion at the Yokohama Tire Philippines site involves the construction of a new tyre plant to complement the existing 165,000 square metre facility. Construction work will get underway after a tenancy agreement is signed in February and initial production is expected to commence in 2013, with full operational capacity reached the following year. A total of 20 billion yen (₤153.2 million) is being invested in the first-phase expansion; a further 30 billion yen is earmarked for the second-phase expansion work, which will further increase Yokohama Tire Philippines’ annual capacity to 17 million tyres by 2017.

1st February 2011/by Tyrepress Editors

Nexen aiming for US$2.5 billion sales by 2015

Company News, International News

While most of the western world celebrated New Year at the end of December, both China and South Korea were making plans for their celebrations at the start of February, based on the lunar calendar. Back in 2010 Nexen Tire Corporation announced plans for a 1 trillion won (US$1.2 billion) investment in its largest factory yet in Changneyeong in the same region as its first plant (Yangsan), which along with the company's second plant in Qingdao, China, continues to expand. Just before the oriental entrance into the new decade, Tyres & Accessories had the opportunity to visit Nexen on its home South Korean and adopted Chinese territory and saw how the company is implementing its plans to become a US$2.5 billion company in the next five years.

31st January 2011/by Tyrepress Editors

Hankook Asia bumps net profit 21.1%

Hankook Tire's Asian division has announced improved 2010 earnings year-on-year with its net profit reaching 424.8 billion won ($381 million) last year, up 21.1 per cent from 350.8 billion won a year earlier. The increase has come on the back of “brisk sales in both domestic and overseas markets”. Sales jumped 19.3 per cent to 3.35 trillion won, and operating profit rose 5.5 per cent to 367.5 billion won.

28th January 2011/by Tyrepress Editors

IRSG Chief to Open “Largest” Tyrexpo Asia

Tyrexpo Asia 2011 organiser ECI International has announced that the event’s eighth staging in Singapore will be opened officially by Dr Stephen Evans, secretary general of the International Rubber Study Group (IRSG). The Singapore-based IRSG provides statistical data and analysis for all aspects of the rubber industry. In opening the show, Evans will follow in the footsteps of his predecessor at the IRSG, Dr Hidde Schmidt, who performed a similar role at the opening of Tyrexpo Asia in 2009. ECI says the show will be the largest in terms of exhibitor numbers in the 15-year history of the event when it opens its doors from 29-31 March, 2011.

26th January 2011/by Tyrepress Editors

Nexen Given Design Award for N8000 and Winguard Sport

The iF Product Design Award 2011 has been awarded to two tyres made by the Korean manufacturer Nexen. The N8000 UHP summer tyre and the Winguard Sport winter tyre prevailed from a field of 2,756 products from 1,121 registered participants in 43 countries. John Bosco Kim, managing director of Nexen Tyre Europe, hailed the win of the iF product design award in a statement: “For us, design prizes are among our most important distinctions.

26th January 2011/by Tyrepress Editors

Japanese Tyre Machinery Manufacturer Forms Indian JV

Japan’s Kobe Steel has formed a joint venture with India’s Larsen & Toubro Limited to manufacture and sell tyre production machinery in India. Called L&T Kobelco Machinery Private Ltd., the joint venture will make rubber mixers and twin-screw rollerhead extruders used in manufacturing tyres. Plans call for construction of the plant to begin in February 2011 and production to begin in October 2011. Approximately 500 million rupees (900 million yen) will be invested in the facility.

25th January 2011/by Tyrepress Editors