China Archives - Page 167 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.

Posts

China Sunsine Supplying Global Tyre Majors

China Sunsine Chemical Holdings is one of China’s largest rubber accelerator producers. At present the company possesses a total annual production capacity of 50,000 tons of rubber accelerators per annum, plus a further 10,000 tons of insoluble sulphur and 10,000 tons of anti-oxidant. These chemicals are sold to the leading global tyre manufacturers, including Bridgestone, Michelin, Goodyear, Continental, Pirelli, Sumitomo Rubber, Yokohama, Hankook, Cooper and Kumho. In China, the company supplies – amongst others – Giti Tire, Aeolus Tyre, Shanghai Tyre, Hangzhou Zhongce Rubber and Chengshan Corporation. Worldwide, China Sunsine boasts more than 400 customers in over 30 countries.

30th January 2009/by Tyrepress Editors

Cabot Chemicals Announces Closures and Layoffs

Specialty chemicals producer Cabot Corporation announced on January 28 that reduced sales have caused its fiscal first-quarter profit to drop 88 per cent versus the previous year. In hand with this news, the company announced it would cut 500 jobs, some 12 per cent of its workforce, as part of a comprehensive restructuring plan.

Net sales of US$652 million were recorded in the first quarter of fiscal 2009, compared with $711 in the first quarter last year. This represents a decline of 8.3 per cent. Net income for the quarter was $4 million, as opposed to $36 million in Q1 2008.

29th January 2009/by Tyrepress Editors

December Tyre Production More than 20% Down in China

According to China’s National Bureau of Statistics, tyre production nationwide fell by 21.7 per cent year on year in December to 36.67 million units. This figure, disseminated by Dow Jones Newswire, present a strong contrast to the 14 per cent growth recorded in December 2007. Synthetic rubber production totalled 236,000 tons in December, up 26.7 per cent year on year.

22nd January 2009/by Tyrepress Editors

Pirelli Inaugurates China “Tire Campus”

On 16 January Pirelli inaugurated its new Pirelli Tire Campus in Yanzhou, Shandong. Pirelli China CEO, Giuseppe Cattaneo commented: “The inauguration of the Tire Campus has further marked the commitment of Pirelli to play a leading role in the tyre industry especially in the high end segment. Apart from the tyre industry, the auto industry including OE customers and Car Concessionaires will also benefit from Pirelli Tire Campus’s training program and better equipped with advanced tyre technology and professionalism.”

Together with its Tire Campus Training Centre at the Istituto Piero Pirelli in Milan, the new initiative is a reflection of the effort Pirelli Tires has put on the continuous training of its internal and external resources as a fundamental element for continuous product and technology innovation of Pirelli Tires.

21st January 2009/by Tyrepress Editors

Yokohama Forever Forest Tree Planting Carried Out in Thailand

Work on Yokohama Rubber’s “Yokohama Forever Forest” project, started in 2007, is ongoing, and last December the company staged a tree-planting ceremony at its Yokohama Tire Manufacturing (Thailand) Co., Ltd. facility. This is the third location outside of Japan to receive the Forever Forest treatment, following the Philippines and China in August and November 2008 respectively.

20th January 2009/by Tyrepress Editors

Automechanika Returns to Malaysia in March

Approximately 5,000 visitors are expected to attend the Kuala Lumpur Convention Centre between March 25 and 28 for the sixth Automechanika Malaysia exhibition. The trade fair, formerly known as Automechanika Asia, is the only automotive parts and aftermarket trade fair organised in collaboration with Malaysia External Trade Development Corporation and is considered by many to be the leading automotive parts and aftermarket trade event in the ASEAN market. Exhibitors from 14 countries and regions including Australia, China, France, Germany, Hong Kong, India, Italy, Korea, Malaysia, Saudi Arabia, Singapore, Taiwan, Thailand and the United Kingdom have confirmed their attendance. A total of 150 exhibitors are expected to take part in the biennial event.

16th January 2009/by Tyrepress Editors

Chinese Car Sales Slowest in a Decade

Having heard about the rough ride Western car markets had in 2008, spare a thought for the booming Chinese market. In 2008 5,326,308 cars were sold into the Chinese market, up 6.7 per cent year-on-year. While carmakers selling into European markets would be over the moon with full-year growth of 6.7 per cent, this the lowest year-on-year growth reported in China for a decade. And what’s more in the month of December passenger sales actually fell 5.7 per cent year-on-year to 545,179 units in December.

According to Morgan Stanley’s Chinese automotive market analyst, this is mainly due to production cuts at the key OEMs. It could also signal that the emerging market’s rapid growth rate has peaked: “Although more supportive policy from the government may be implemented soon, such as purchase tax and consumption tax cut, weak car demand sentiment and consumer confidence are not easy to revive amid a slowing economy, in our view,” Morgan Stanley’s Kate Zhu said in an investor’s note.

16th January 2009/by Tyrepress Editors

Mexico’s Bienes Turgon Acquires Delphi’s Global Exhaust Business

Bienes Turgon, S.A., a Mexican holding company with interests in the automotive industry through its subsidiary Katcon, S.A., has announced the acquisition of Delphi Corporation’s global exhaust system business in its entirety. The transaction, covered by a Master Sale and Purchase Agreement and financed with an equity increase and existing cash reserves, is expected to be closed during the first half of 2009.

15th January 2009/by Tyrepress Editors

Tyre Producers Now Paying for BR Monthly

A number of tyre makers have reportedly opted to settle their Asian butadiene rubber (BR) contracts on a monthly basis amidst weak demand causing a volatile pricing environment. According to a news report published on icis.com, BR contracts in Asia are usually settled on a quarterly basis. “BR January spot prices have plunged to around $1,100/tonne (€836/tonne) CFR (cost and freight) Asia, down by more than 70 per cent from its peak of $4,000/tonne CFR Asia in the fourth quarter last year,” the website reported.

“By April, there will be a clearer price direction but certainly in the first quarter of this year, prices are expected to fall further to around or below $1,000/tonne CFR Asia,” the website quoted one Indian tyre manufacturer as saying.

14th January 2009/by Tyrepress Editors

Singapore Trade Minister to Open Tyrexpo Asia 2009

The high regard in which Tyrexpo Asia is held by the Singapore government has been recognised by the announcement that the country’s Minister of State for Trade and Industry, Mr Lee Yi Shyan, will officially open the exhibition as Guest of Honour at the Singapore Expo Centre on Tuesday, 24th March this year.

Ministerial endorsement of the show has been warmly welcomed by organisers ECI International, with managing director Paul Farrant commenting: “We are extremely grateful to the Minister for agreeing to be our principal Guest of Honour; his involvement will add to the sense of occasion at the opening event as well as signifying the economic importance the Singapore government attaches to the expo.”

14th January 2009/by Tyrepress Editors

Automechanika Shanghai Attracts More than 30,000 Visitors

The organisers of Automechanika Shanghai report that 30,845 visitors from 104 countries and regions visited China’s number one event for the automotive part, component and aftermarket industry. A total of 1,982 exhibitors from 23 countries and regions displayed their products during the December 2008 exhibition.

Automechanika Shanghai is organised by Messe Frankfurt, together with the China National Automotive Industry International Corporation (CNAICO). The next show will take place from 9 to 11 December 2009.

12th January 2009/by Tyrepress Editors

China’s Sailun Company Latest to Join TRIB

TRIB, the Tire Retread & Repair Information Bureau, continues to become ever more international. The latest member to join the organisation is China’s Sailun Company, Ltd. The addition of Sailun brings TRIB’s membership to nearly 500 members in 49 countries.

“TRIB continues to grow internationally as more and more companies in the new tyre and retread industries throughout the world realise that TRIB is the only international retread industry association representing new tyre manufacturers, retreaders and tyre repair companies,” said Harvey Brodsky, TRIB’s managing director.

8th January 2009/by Tyrepress Editors

Dongah Tire & Rubber Acquires Avon Automotive Vibration Business

Automotive industry rubber products supplier Dongah Tire & Rubber has announced the December 31, 2008 acquisition of Avon Automotive’s Vibration Management Systems (VMS) business, which is headquartered in the Wiltshire town of Chippenham. The VMS business designs, manufactures and supplies engine and suspension mounts, mass dampers, tank track pads and other vibration management products to leading global automotive and defence customers in Europe and North America.

8th January 2009/by Tyrepress Editors

Reifen China Opening the Door to New Markets

Following the successful premiere event in 2007, the popular Asian region “Reifen China” exhibition was again held last December. Some 5,600 domestic and international visitors attended the Shanghai New International Expo Center (SNIEC) between December 4 and 6, 2008, to gain information on the latest products, technologies and services available within the Chinese and worldwide tyre industry. While the fair attracted some two hundred fewer visitors than the 5,800 recorded the previous year, this decline of 3.5 per cent must be viewed in light of the current economic situation, particularly within the tyre industry, and should therefore be interpreted as a very positive result. “Actually I don’t at all want to speak of it as a decline,” commented Klaus Reich, director Trade Fairs and Exhibitions for the show organiser, Messe Essen GmbH, to Tyres & Accessories. The result, he said, was in the economic circumstances, “absolutely good.”

6th January 2009/by Tyrepress Editors

Lower Exports May Lead to Further Solideal Job Losses

Plans are reportedly underway to eliminate jobs at Solideal’s Sri Lanka and China factories in response to declining exports. The manufacturer of industrial tyres recently laid off around 1,100 workers, however company founder and president Philippe Daneels indicated that a five per cent contraction in global exports is anticipated in 2009 and thus further redundancies may take place. Before the initial downsizing measures began Solideal had 8,100 employees at its production facilities.

5th January 2009/by Tyrepress Editors