China Archives - Page 190 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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Continental Warns Against Pirated Reproductions

Only a week after the US Tire Industry Association announced at the SEMA show in Las Vegas its “policy resolution” regarding look alike tyres, Continental has released its own statement on the issue of counterfeit products. The company wishes to extend an emphatic warning against the use of counterfeit Continental products, and has singled out Asia as the predominant site for the production of such items.

“Pirated reproductions do not have the same material and processing quality as genuine products, and can quickly become a safety risk,” emphasises Manfred Wennemer, Continental AG executive board chairman. In light of this, the company declares it is taking “decisive and comprehensive action” against product piracy, and has already had several major successes in its pursuit of Conti counterfeiters. For example, sales of truck tyres produced in China with illegally-copied Continental treads were stopped in Germany, and in Taiwan claims for damages have been asserted against a dealer.

7th November 2007/by Tyrepress Editors

Cooper Reports Q3 Profit & Record Sales

Cooper Tire & Rubber has reported a net income of US$30.2 million or 48 cents per share for the quarter ended September 30, 2007, a marked contrast with last year’s third quarter loss of just under $25 million. Income from continuing operations increased by more than $41 million from a loss of $23.5 million for the same period last year, resulting in earnings per share of 29 cents from continuing operations. Income from discontinued operations also contributed $12.4 million, or 20 cents per share, for the quarter. The continued growth in earnings was accompanied by a new record of $767.7 million in sales for the quarter, an 11 per cent increase over the same period last year.

The company attributes its more positive quarterly results to improved pricing in North America and increased tyre unit sales for its international segment. The improvement was also supported by Cooper’s ongoing cost and profit improvement initiative implemented throughout the year. As a result, operating profit improved to $32.7 million in the third quarter of 2007, compared with an operating loss of $5 million in the third quarter of 2006. For the nine month period ended September 30, 2007, the company’s net income improved to $68.6 million on $2.2 billion of sales. This is a $119 million improvement in net income over the same period a year ago.

7th November 2007/by Tyrepress Editors

UK Car Market Still Buoyant, Says Report

The much publicised “credit crunch” which has seen interest rates rise sharply this year has not scared off UK car buyers, says ACF Car Finance. The UK market came in at 419,000 units (+1.3 per cent) in September, which is thought to have been spurred on by the new registration plate which pushed private retail sales up by 1.5 per cent. The UK market performed better than was expected, despite fears of a slowing economy and the increased cost of borrowing money.

6th November 2007/by Tyrepress Editors

Rubber Prices Set To Rise Sharply

A statement from Jom Jacob, senior economist of the Association of Natural Rubber Producing Countries, warns that increased demand for natural rubber – demand which producers are struggling to fulfill, will inevitably lead to spiralling rubber prices. Factors such as erratic weather, lack of cultivatable land and labour supply constraints could all adversely affect output in the main producing countries of Thailand, Indonesia and Malaysia.

International prices have risen four-fold since 2001, when there was over-supply and the price was at a 30-year low. Some analysts say they expect rubber to rise around 18 per cent to $3 a kg next year. Thai RSS3 grade, often used as the benchmark for physical prices, stood at USD2.55 a kg on Friday.

5th November 2007/by Tyrepress Editors

Cabot Announces Fourth Quarter and Fiscal Year Operating Results

Carbon black producer Cabot Corporation has announced a net income of US$24 million ($0.36 per diluted common share) for its fourth quarter of 2007 period, including $5 million after-tax ($0.07 per diluted common share) of charges from certain items and discontinued operations, compared with net income of $27 million ($0.39 per diluted common share) for the fourth quarter of fiscal 2006, which included $16 million after-tax ($0.25 per diluted common share) of charges from certain items, discontinued operations and the cumulative effect of an accounting change.

For the full fiscal year 2007, the company announced a net income of $129 million ($1.90 per diluted common share), including $22 million after-tax ($0.32 per diluted common share) of charges from certain items and discontinued operations, compared wit the company’s full fiscal year 2006 net income of $88 million ($1.28 per diluted common share), which included $36 million after-tax ($0.54 per diluted common share) of charges from certain items, discontinued operations and the cumulative effect of accounting changes.

2nd November 2007/by Tyrepress Editors

Mining Director Predicts OTR Tyre Shortage Over in 2008

According to global diamond mining giant De Beers, the shortage of large OTR tyres that has plagued mining operators in recent years will be over by the end of 2008. The South African publication Mining Weekly has reported De Beers director Debbie Farnaby as saying the success of Chinese manufacturers in the area of radial OTR tyre production will end the shortage sooner than previously anticipated.

China’s traditional output of cross-ply tyres was deemed unsuitable by many mine operators, and numerous estimates of the tyre shortage’s duration were based upon the assumption that this type of OTR tyre would be the mainstay of Chinese production for some time. “But they’re making radials as well, and we’re testing some at Venetia (De Beers’ largest diamond mine in South Africa) at the moment,” Farnaby said.

2nd November 2007/by Tyrepress Editors

Stamford Keeps Moving With Wheel Production

For the Stamford group Tyrexpo Asia has been a fixed event from the start, with both the company and exhibition being based in Singapore. Stamford, which is also listed on the Singapore stock exchange, is not only known within the tyre industry for its global wholesaling business; during the last three years it has also become very well known through its own wheel production activities. In 2004 Stamford Tyres began operating its Thai subsidiary Stamford Sport Wheels (SSW), which produces light alloy wheels in a low-pressure casting process. But because the new factory is already operating up to its capacity limits, the company is currently investing another 20 million US dollars in order to establish a second wheel factory on the same site near Thailand’s capital Bangkok, says Roger Chang, CEO of Stamford Sport Wheels Co. Ltd.

The initial plans to build its own factory arose when demand for Stamford’s private brand was growing ever stronger at a time when suitable offtake partners possessing additional capacities in the region were becoming more and more difficult to find. This led to the decision to trust in its own capabilities to install and operate a wheel factory rather than continuously exist in a state of uncertainty with regards to the supply situation, the CEO told Tyres & Accessories during an interview at Tyrexpo Asia in Singapore: “The supply situation with light alloy wheels had become an issue.” Consequently, the wholesaler and retailer decided to also become a manufacturer. Thus, since the beginning of 2004 Stamford has operated its SSW factory in Thailand and maintains about 300 employees there. These staff produce about 400,000 light alloy wheels in sizes up to 24 inches per year.

1st November 2007/by Tyrepress Editors

BFGoodrich Proves its Rallying Mettle in 2007

US tyremaker BFGoodrich claims a long motorsport heritage, entering the motor racing history books in 1915 when it became the first tyre manufacturer to enjoy victory two years in a row at the ‘Brickyard’, home of the Indy 500 race. More recent accomplishments in a variety of championships have cemented the brand’s sporting credentials, and today BFGoodrich retains a reputation as being a tyre of choice for those seeking both a sports-oriented image and performance.

During 2007 the Michelin owned tyremaker was active at the highest levels in four key areas of motorsport: The World Rally Championship, the Irish Tarmac Rally Championship, Intercontinental Rally Championship and Rally Raid events, including the famous Dakar Rally.

1st November 2007/by Tyrepress Editors

Kumho Plans to Lift Capacity by One Fifth

Plans are afoot to increase Kumho Tire’s global capacity by 20 per cent in the coming year. The company’s CEO and president, Dr. Sael Chul Oh, has commented that this growth would be fulfilled in part by the Korean tyremaker’s operations in China; two of Kumho’s three established plants in the country are scheduled for expansion. A fourth facility is also currently being built in China.

In 2006 Kumho had a global capacity of 45.3 million tyres, and plans to increase this to 56.4 million by 2008 appear to have been met and surpassed ahead of schedule, with the manufacturer reported to possess a current worldwide capacity of 60 million units, through which it generates US$12 billion in annual tyre sales across 180 countries.

1st November 2007/by Tyrepress Editors

Challenge Bibendum Returns to Shanghai in November

The 9th annual Challenge Bibendum is only two weeks away, and this year sees the event returning to Shanghai, host city to Challenge Bibendum 2004. The Challenge Bibendum, created by Michelin in 1998, is a concerted effort on the part of vehicle manufacturers, technical partners, energy suppliers and research institutes to provide political and economic decisions makers with insights and understanding into the latest advances in vehicle technology for creating cleaner and more fuel efficient transport options.

31st October 2007/by Tyrepress Editors

Making the Right Impression

All ten of the world’s top ten tyre manufacturers were present in China in some shape or form by 2005, and each of these global giants has its own big plans for this market. Michelin intends to increase its car and light commercial tyre market share to 4 per cent of its worldwide sales by 2010 and to double this share again within another decade, and Bridgestone’s mid-term target in China is to grab a 20 per cent market share in 2008.

So the obvious question for local tyre manufacturers in China is what place do they have in this huge and growing market? The OE market is dominated by the international brands that have a long history of cooperation with global vehicle manufacturers, making it a market that local tyremakers have difficulty penetrating. This leaves the aftermarket as the main avenue for pursuing sales, and this sector poses its own set of problems for Chinese manufacturers.

30th October 2007/by Tyrepress Editors

CMA Launching New OTR Tyres at SEMA

(Akron/Tire Review) The SEMA Show will see the launch of new 33- and 35-inch radial OTR tires by China Manufacturers Alliance. The Double Coin 35/65R33 L-5 loader tyre and 24.00R35 E-4 haulage tyre are the latest additions. Company officials stated the new tyres have “uniquely aggressive tread patterns for long wear, a smooth ride and excellent traction, as well as an all-steel casing for puncture resistance and enhanced retreadability.” CMA said the 33-inch loader tyre comes with a 122/32nds of original tread depth while the 35-inch radial haulage tyre has an original tread depth of 86/32nds.

30th October 2007/by Tyrepress Editors

YHI Focusing on Advanti Racing and Neuton Private Brands

A company that is becoming one of the largest alloy wheel manufacturers amongst the countries lining the Pacific Rim is YHI International, headquartered in Singapore. Currently the company operates production capacities of 2.4 million wheels annually (in 2006 this figure was just 1.2 million) and has generated an annual turnover of more than 180 million euros through its wheel business. And if the company’s mid-term development plan becomes reality, by 2010 YHI will operate up to 24 production lines in its four alloy wheel factories in China, Taiwan and Malaysia. These lines will be able to produce about 4.3 million alloy wheels per year. “We will continue to develop YHI into a global brand”, said managing director Richard Tay in a recent company publication.

30th October 2007/by Tyrepress Editors

Hankook Tire – Double Digit Growth in 2008

Hankook Tire plans to sustain its double-digit growth during 2008 and continue to develop as a producer of quality high performance tyres. And the Korean manufacturer’s status in this segment will be further bolstered by the company’s recently announced KRW 10 billion (£5.4 million) wet proving ground for the integrated development, production and testing of UHP tyres. This facility is the first of its type in Korea.

In 2008, Hankook Tire will renew its strategic focus on driving retail sales through more intensive marketing activities across all of its major markets, leveraging its growing reputation for producing quality high-performance tyres. The Hankook Tire Masters Program for distributors in Europe will be expanded, and a new distributor education plan for high performance tyres, featuring an emphasis on Hankook Tire’s technological innovation and its benefits for customers, is in development.

29th October 2007/by Tyrepress Editors

Retreaders Work on Their Contacts in Singapore

Tyrexpo Asia is not only a very interesting show for wholesalers, dealers and manufacturers of new tyres. In parallel with the increasing “Westernisation” of many markets in the region, suppliers of treads and tread rubber as well as equipment for the retreading business play an increasingly important role for Tyrexpo Asia, and this has not only been the case for this year’s show. Despite this, it has to be admitted that in previous years more companies from the retreading industry were present during the Singapore show, such as, for example, Goodway from Malaysia or Vipal from Brazil. So, this year’s exhibition appeared to lack some important market players. However, many others, including several companies from Europe and Northern America came or returned to exhibit at Tyrexpo Asia and thus benefited from it.

29th October 2007/by Tyrepress Editors