China Archives - Page 156 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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De Klok Holds High Expectations for the New Season

Dutch wholesaler De Klok Banden is releasing a completely updated product range for the 2009/2010 winter tyre season. But it is not only the size and depth of the line-up that’s been taken care of – the company is also convinced that tyre dealers will be hard pressed to go past De Klok’s brands when it comes to quality, availability and pricing. Furthermore, a recently added extra 15,000 square metres warehouse capacity shows that the firm from Oud-Beijerland, south of Rotterdam, is set to expand.

2nd October 2009/by Tyrepress Editors

Cam Signs Exclusive Distribution Agreement with EDP

Tyre business systems provider, Cam Systems, has signed an exclusive distribution agreement with EDP France and EDP UK for the UK tyre industry. The move is being seen as a significant step today in the company’s “business process optimisation strategy” and as a move towards RFID. The agreement covers all software and local support and installation services associated with EDP’s products, incorporating the company’s desk bound management platforms: Tyre parc; Fleet Check; and Fleet Check Lite.

Mike Allen, managing director of Cam Systems explained: “As service providers in the UK seek to increase productivity whilst also saving process costs, it became apparent that we needed to provide them with an option for a world class fleet inspection platform. The EDP software was designed in France, largely in conjunction with Michelin Europe, so its development credential is superb."

1st October 2009/by Tyrepress Editors

Interstate Tires To Double European Warehouse Capacity

Interstate Tires intends to double the capacity of its European warehouse by November this year. The company says that this will enable Interstate to offer its European customers quicker delivery, better service and good availability for all Interstate tyres. Theo de Vries, Vice President, said fill rates in the first half of 2009 were about 87 per cent. Light truck tyres and winter tyres, the inventory of which is not linked to demand, were instrumental in bringing down the average, he noted.

1st October 2009/by Tyrepress Editors

The Market is Ripe for Korean Tyre Makers

International News, News, UK News

2009 could be a breakthrough year for the Korean tyremakers. A collection of circumstances (some clearly the result of famed Far Eastern forward planning, and others distinctly more fortuitous), mean Kumho, Hankook and Nexen have found themselves poised to sell increasing numbers of replacement tyres in the UK and Europe. In addition, their successful efforts in the OE department – ironically helped along by the shaky macro-economic environment – mean this perfect storm of variables could leave the Korean manufacturers in an even stronger position when the dust settles. In the UK, a market where mid-range and economy tyres make up around 60 per cent of unit sales, official figures show that 4.7 million passenger car tyres of South Korean origin were imported last year. However, this cannot be the complete total because it only includes tyres imported from factories actually situated in South Korea. Owing to the fact that all three have significant manufacturing presences in China, and tyres often enter the market by “indirect routes,” it is likely the true total is a lot more.

30th September 2009/by Tyrepress Editors

Acquisition Boosts Reclaim’s Presence in Australian Tyre Recycling

Following a recent acquisition, Reclaim Industries Ltd has become Australia’s largest tyre recycler. The publicly traded tyre recycler and rubber manufacturing company purchased the Sydney based Renaza tyre processing plant for AU$621,000 from the bankrupted ReVived Rubber Technologies and Renaza Resources – an acquisition that comes at a time when Reclaim is seeing business increase 27 per cent over the 2009 financial year.

29th September 2009/by Tyrepress Editors

New Nexen President Opens Middle East Office in Dubai

No sooner had Travis Kang been appointed to the position of President of Nexen Tire (on 5 January), than he set off on visits to strategic markets such as the US, France, Saudi Arabia, Hong Kong, China – reportedly visiting each a few times. After one such week-long visit to the Middle East markets, he made a proposal to company executives: “After seeing the market of Middle East, I truly believe Dubai is the bridgehead for the new market. Let’s open a branch there immediately.”

Nexen Tire Dubai covers the strategic markets of Dubai, Saudi Arabia, Iran and North African markets. The Dubai branch opened in August, just four months after the initial proposal was made.

29th September 2009/by Tyrepress Editors

Malaysia Chamber Puts Out the Welcome Mat

(Tire Review) Malaysia apparently sees an opportunity from the tyre tariff tiff between the US and China. According to Bernama new service, the country’s Chamber of Commerce is encouraging Chinese tiremakers to set up plants in Malaysia in a move to avoid the new 35 per cent tariff on exports to the US.

28th September 2009/by Tyrepress Editors

Bigger Tyre Manufacturers Losing Global Market Share: Deutsche Bank

A Deutsche Bank analysis of the global tyre market in 2008 has revealed that the global top 11 tyre manufacturer’s share of said market has fallen considerably in this decade, while the market capacity has swelled to twice its value (not allowing for inflation) at the turn of the millennium – US$140 billion compared to 69.78 billion in 2000. In addition, the Global Big Three (Bridgestone, Michelin and Goodyear) have seen their market share dwindle to 46.2 per cent. In the four previous recordings, taken by Deutsche Bank at five-year intervals, their share had not dipped below 52.1 per cent. Analysts attributed the downward trend to the fact that they have a below average share of the markets that are growing most rapidly, such as China. The news is affecting Goodyear most of all, since they have reportedly lost three times more market share than either Bridgestone or Michelin.

28th September 2009/by Tyrepress Editors

Toyo to Cease Supplying US Market from China

Following the Obama administration’s decision on Chinese tyre imports, Toyo Tire & Rubber has announced it will soon stop producing passenger car and light commercial vehicle tyres for the US market in China. "Most of those tyres will soon be manufactured at our plants in Japan," the company said in a statement. "Our number one priority is customer satisfaction, and we are making every effort to minimise disruption in supplies to our dealers by expediting these production changes."

28th September 2009/by Tyrepress Editors

Nexen to Invest 1 Trillion Won in New South Korea Factory

Nexen Tire is planning to invest 1 trillion won (£526 million; 572 million euros; $829 million) in a new factory in South Korea. The move is seen as a way of ramping up production in anticipation of a 6 per cent annual growth of global tyre demand. The new plant, which will be located in Gyeongnam Province, southeast of Seoul, would be the world's largest to produce tyres for passenger vehicles and light trucks, according to the company. The investment, which is scheduled to be made by 2017, will double the company’s existing annual output from its other China and South Korea plants to 60 million units and place it among the world's top 10 tyre makers, the company said in a statement.

Nexen shares rose 1.35 per cent to 6,020 won by 0248 GMT 28 September 2009 following the news.

28th September 2009/by Tyrepress Editors

China Welcomes ITC Ruling Forcing OTR Anti-Dumping Rethink

The Chinese government has welcomed a US Court of International Trade ruling that the US Department of Commerce imposition of anti-dumping and countervailing duties on Hebei Starbright Tyre Co., Ltd might result in it paying twice. According to the Xinhua news agency, the US court ruled that the Department of Commerce should either scrap the countervailing duty or amend its methodologies and procedures of levying anti-dumping measures and countervailing duty on merchandise from China within 90 days.

The news refers to the fact that, on 31 July 2007 The US Department of Commerce decided that it would launch anti-dumping and countervailing probes simultaneously into China-made off-road tyres. On 4 September 2008 it introduced a 19.15 per cent anti-dumping and a countervailing duty ranging from 2.45 per cent to 14 per cent on the Chinese produced tyres.

25th September 2009/by Tyrepress Editors

Pirelli to Build Emissions Filter Plant in China

International News, News

In mid-September Pirelli demonstrated its commitment to reducing vehicle emissions in China through the signing of two agreements. On September 15 the Italian firm, along with the Italian Ministry for the Environment, Land and Sea and China’s Ministry of Environmental Protection signed a protocol agreement on the distribution of diesel vehicle emission reduction technologies in China. Pirelli also signed a memorandum of understanding with the Hixih Group to set up a filter manufacturing plant in Shandong Province.

25th September 2009/by Tyrepress Editors

Kumho to Build China Rubber Accelerator Plant

Kumho Petrochemical intends to construct a facility for the production of rubber accelerator in southwest China. The company announced on September 23 that it will spend 44 billion won (£22.4 million) to build the plant by the first quarter of 2011. The Chongqing plant is expected to annually produce 22,000 tonnes of rubber accelerator, a substance used during the vulcanisation process.

23rd September 2009/by Tyrepress Editors

China Auto Industry Faces Overcapacity

China's auto industry has shown signs of overcapacity, but automakers continues planning further expansion, Chinese state news agency Xinhua has reported that the country’s largest car makers face overproduction, but have further expansion plans anyway. China’s car production capacity is predicted to exceed 16 million units by 2012.

Leading auto companies, including SAIC Motor, FAW Group, Dongfeng Motor and Changan Auto, have each announced multi-million unit sales targets for the coming two years. Chery Auto, for example, has set an output and sales goal of 1 million units by 2012. Beijing Auto is aiming at output and sales of 1.5 million units in 2010 and 2 million in 2011.

In the auto industry stimulus plan unveiled in March, China set a target of annually producing 500,000 electric vehicles and hybrid vehicles in 2009-2011, with new-energy vehicle sales making up 5 percent of total passenger vehicle sales.

22nd September 2009/by Tyrepress Editors

Chinese Tyre Tariff Leaves Cooper Better Off

While opinions are divided about the perceived fairness of the US government’s 35 per cent Chinese tyre import levy, the repercussions on the global market are undeniable. After the initial fluctuations in tyre manufacturers share prices (down for those producing mainly in the Far East; up for the North American tyre makers), the latest effect has been for banks to raise their earnings estimates for Cooper Tire & Rubber. The decision comes on the back of an investor’s note which suggests Cooper Tire, which has opposed the tax, appears to benefit from the system overall.

Writing today (21 September) Deutsche Bank analysts said the US tariffs “have the potential to provide a significant net benefit to Cooper’s profitability over the intermediate term.” As a result the company raised its earnings estimates for the company to $1.61, $2.25 and $2.50 for 2009, 2010, and 2011, respectively, from $1.50, $1.40 and $1.48.

21st September 2009/by Tyrepress Editors