China Archives - Page 136 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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Sumitomo After 1.8% Stake in Stamford Tyres

Sumitomo Rubber Industries, Ltd. SRI is to purchase a 1.8 per cent stake in international tyre and wheel distributor, Stamford Tyres Corporation Limited. Subject to the approval from the Singapore Stock Exchange, Stamford Tyres announced 21 September that it will issue SRI 4.3 million new shares at a price of S$0.35 per share.

Net proceeds from the placement, after deducting expenses of S$100,000, are said to be approximately S$1.4 million (£674,522; 793,471 euros; US$1.054 million) According to the company, the net proceeds will be used to fund the group’s working capital needs in South Africa.

22nd September 2010/by Tyrepress Editors

Maxxis Again One of Taiwan’s Top Brands

For the eighth straight year, Maxxis has been listed on Interbrand’s ranking of Taiwan’s top 20 global brands, reports Tire Review. The company placed seventh for 2010, and was again the only tyre-maker on the list. Maxxis’ brand value was assessed at $391 million, an increase of 13 per cent from the previous year.

21st September 2010/by Tyrepress Editors

CITExpo 2010 Attracts 7,400 Visitors

The organiser of the Shanghai based China International Tire Expo (CITExpo) tyre fair, Reliable International Exhibition Services, has issued statistics from the 2010 show. Managing director Wilko Fong states that between September 8 and 10, some 7,400 visitors from 92 countries and regions attended the show. From this number, 40 per cent were international visitors. The 22,000 square metres of exhibition area was occupied by 290 exhibitors during this year’s show.

20th September 2010/by Tyrepress Editors

Sibur Opens China Trading House

Sibur, the largest petrochemical holding company in Russia and Eastern Europe and, has opened a Chinese trading company. Known as Citco (Shanghai) Trading Co., Ltd., the new China registered trading company is located in Shanghai and will engage in sales of petrochemical products, with payments in Chinese currency. Previously exports of Sibur’s products to China were coordinated through the corporate trading company CITCO (Austria), with payments in US dollars. Included in the petrochemical products Sibur exports is synthetic rubber, such as polybutadiene, for use in tyre production. In 2009 Sibur sold more than 47,000 tons of synthetic rubber in China.

20th September 2010/by Tyrepress Editors

Hankook to Produce Truck Tyres in Hungary

According to Hankook Tire Europe executive vice president and COO Jin-Wook Choi, the company holds the long-term goal of doubling its annual European production to more than 20 million units. In addition to this sizable increase in passenger car, 4×4 and van tyre production, the company has decided that in the long-term to add a truck tyre production line at its factory in the Hungarian town of Dunaújváros.

20th September 2010/by Tyrepress Editors

European OE Truck Tyre Market Swells, PCR Slips in August

Market data released by Michelin shows the European original equipment market for passenger car and light commercial vehicle tyres to have dropped 10.0 per cent year-on-year during August. Sales of these products have in the year to date increased 18.6 per cent in Europe, and our region was the only of the three reported markets to have suffered a decline; the North American OE market for passenger car and light truck tyres grew 34.0 per cent during August, while the China market increased 12.7 per cent. Both of these monthly results are lower than year to date growth figures, which for North America and China are 61.8 per cent and 40.5 per cent respectively.

20th September 2010/by Tyrepress Editors

Conti Sees Stagnant Car Production in Europe, US

Continental AG says automobile production in Europe and the US will remain stagnant next year, which is why it is stepping up expansion in Asia. The tyre and auto part maker said growth in emerging markets like China, India and Indonesia is important to its continued success.

17th September 2010/by Tyrepress Editors

Chinese-made Dmack Tyres to Join Michelin in WRC

Shandong Yongtai Chemical Group Co., Ltd, part of the Yongtai Chemical Group, has become the first Chinese tyre manufacturer to supply a top flight motorsport series after being named as the WRC’s second supplier after tyre giant Michelin was confirmed yesterday. The tyres will be branded Dmack and are aimed at privateer racing crews. The products themselves are being manufactured at Yongtai’s factory in Dongying, China. The plant reportedly produces 22,000 tyres a day for global distribution.

15th September 2010/by Tyrepress Editors

Provide Accurate Data on US Tariffs or Scrap Them, says TIA

The Tire Industry Association is no fan of the US tariff on Chinese produced consumer tyres. The anniversary of the Obama administration’s implementation of the “punitive” tariff is at hand, and the TIA is marking the occasion by calling for an end to the tariff or the collection of accurate data regarding it. The association points out that the United States International Trade Commission is obliged under section 421 of the Trade Act of 1974 to collect accurate, objective data on the tariff's effects.

13th September 2010/by Tyrepress Editors

US Tariffs – Are They Paying Off?

The Alliance for American Manufacturing (AAM) represents a number of manufacturers and the United Steelworks union and holds the aim of strengthening manufacturing in the US, so it is no surprise the organisation views the Obama administration’s tariffs on consumer tyres from China as nothing less than a glowing success. On September 1 the AAM released a document, titled “Obama’s Bold Economic Move on Chinese Tire Imports is Paying Off”, in which it outlines the market’s reactions to the tariffs. The organisation puts forward a strong argument for their continuation – but are the tariffs really achieving their desired effect, or are they taking credit for other factors influencing the market?

10th September 2010/by Tyrepress Editors

Guizhou Tyre Aiming to Expand in UK and European Markets

Chinese tyre manufacturer Guizhou Tyre Company Ltd has maintained a relatively low profile in the UK up till now, but this is reportedly about to change as a result of the company’s decision to raise its profile with a stand at next month’s Brityrex in Manchester (5-7 October). Here’s how one company representative explained it: “The promotion of our brands within Europe and in the UK especially has been relatively low key in the past. We have now taken the strategic decision to expand our brand profile and distribution network across Europe in general and in particular the UK.” The Guizhou stand at Brityrex will exhibit products from the Advance range of radial/bias OTR tyres, radial truck tyres, agricultural tyres and industrial/fork lift tyres.

10th September 2010/by Tyrepress Editors

Cooper Tire Continues ‘Happy Soccer Class’ at Yellow Mountain

International News

In China, Cooper Tire has been continuing a series of measures designed to integrate the company into the communities in which it operates. One such programme is Cooper’s ‘Happy Soccer Class’ which recently saw Alex Koi, general manager of Cooper Tire China operations, lead his team of employees to Tanjiaqiao Central Primary School in Huangshan, also known as the Yellow Mountain, Anhui province. Since January 2010, Cooper Tire working closely with famous soccer commentator Huang Jianxiang, officially launched the Cooper Tires charity soccer with the theme of ‘The wheel of Joy – happy soccer class’. This campaign aims to teach soccer skills to the children.

10th September 2010/by Tyrepress Editors

ContiSportContact 3 Tops Auto Express Tyre Test

The ContiSportContact 3 has won this year’s Auto Express test, the second time in a row a Continental brand tyre has won what is arguably Britain’s most popular annual tyre ranking. That said Michelin’s Pilot Sport 3 was just 0.6 per cent off the pace in the overall results with a benchmark of 99.4, closely followed by Goodyear and Dunlop with 99.2 and 99.1 in third and fourth place respectively for the company’s Eagle F1 Asymmetric and SP Sport Maxx TT tyres. Fifth place was taken by Hankook’s Ventus S1 evo with 98.2, a hair’s breadth ahead of Pirelli’s P Zero.

9th September 2010/by Tyrepress Editors

Toyo Breaks Ground on China Plant

Toyo has held a groundbreaking ceremony for its new Chinese passenger car tyre manufacturing facility in Zhangjiagang City, Jiangsu Province. The subsidiary – Toyo Tires Zhangjiagang Co, Ltd will be chaired by Toyo senior corporate officer Mitsuru Hitotsuyanagi. Production is scheduled to begin in December 2011 with an annual capacity of 2 million units and a workforce approximately 500 in number.

9th September 2010/by Tyrepress Editors

Truck Sales in China to hit 1 million

Sales of heavy-duty commercial vehicles in China surged to 316,725 units in the second quarter of 2010, an 83 per cent jump year-over-year according to a report published by ACT Research Co. and China's State Information Center. According to leading Chinese truck and bus radial (TBR) tyre manufacturer Giti Tire, demand for TBR tyres in the People’s Republic equates to 30 million units/year – more than three times the 9 million tyres consumed in Europe annually.

8th September 2010/by Tyrepress Editors