Bridgestone to Build Synthetic Rubber Plant for China
(Akron/Tire Review) Bridgestone Corp plans to spend some $100 million to build a synthetic rubber factory in China, which the company said is necessary to meet growing demand worldwide.
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.
Tag Archive for: China
SRI to Quadruple Production in China by 2008
Product NewsSumitomo Rubber industries has announced its intention to quadruple its tyre production in China within three years, in order to meet the sharply rising demand in that country.
SRI intends to invest between 10 billion and 15 billion Yen ($85m to $128m) over this period. Production at the SRI plant in Jiangsu province, near Shanghai, will rise from the current 1,500 tonnes a month to 6,000 tonnes.
SRI also said that it plans to build a new factory in China to supply tyres to Japanese car manufacturers with factories in China.
Yokohama Announces Two New Chinese Joint Ventures
Product NewsYokohama has announced that it has entered into two new joint venture operations in China. Shandong Yokohama Rubber Industrial Products Co, Ltd, will produce and sell conveyor belts, and Yokohama Tire Sales (Shanghai) Co, Ltd, will sell tyres, both are set to be established in early 2006.
OTR Tyre Crunch: Indian Ministry’s Counters Chinese ‘Speculators’
Product News(India/Rubber Asia) The off-the-road (OTR) tyre makers in India are refusing to take fresh orders “at least for the next few years” in the wake of an avalanche of orders hitting them. The acute shortage of tyres, especially meant for heavy-duty dumpers, raises a serious threat to one of India’s core sectors, the mining industry, especially coal.
NR Prices to Continue to Rise in 2006
Product NewsNatural rubber prices are predicted to keep rising in 2006 for the second straight year, as demand from tyre manufacturers continues to outstrip supply, Rubber World has reported. “Bullishness may persist in the rubber market as demand for the commodity remains quite strong,” Michael Coleman, managing director of Singapore-based Aisling Analytics told Dow Jones newswires.
Michael Wessel Joins Goodyear Board
Product NewsMichael R Wessel, an attorney with many years experience as a policy and international trade advisor in Washington, DC, has been elected to Goodyear Tire & Rubber Company’s board of directors.
Stamford Tyres First Half 2006 Net Profit up 114 per cent
Product NewsSingapore’s Stamford Tyres has published first half 2006 results which show the company is ahead of schedule as far as net profits are concerned. In the six month period ended 31 October the company recorded a 114.3 per cent rise in net profits to S$6.5 million.
Michelin Plans South Carolina OTR Expansion
Product NewsMichelin is planning to expand a Lexington County, South Carolina plant that makes large earthmover tyres, the associated has press reported. With reference to the current earthmover tyre shortage, Michelin said the company is investing in a South Carolina facility “west of Columbia.” He said capacity will be added there but did not discuss the size of an expansion nor a definitive timetable.
Michelin Going After Counterfeiters
Product News(Akron/Tire Review) Groupe Michelin has gone on the attack against alleged counterfeit tyres, calling on the European Union Trade Commission to take action against a flood of counterfeit medium truck tyres, units the manufacturer said could pose highway dangers.
Goodway’s Simplex Programme Makes Waves
Premium, Product News(India/Rubber Asia) Simplex is a new and exciting franchise programme for overseas investors to get a head start in the profitable and challenging tyre retreading business. It comes from the stable of Goodway Rubber Industries Sdn Bhd (“Goodway”) which claims to be a market leader and one of the fastest growing rubber technology and rubber compound providers in the world.
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Yokohama, Wanli Suit Completed
Product NewsYokohama Tire Corp has resolved the last phase of its patent and trade dress infringement suit relating to Wanli S-1099 tyres sold in the US. It is not clear whether or not the case will have any bearing on the European tyre business and Belgian wholesaler Deldo, the exclusive European distributor of Wanli tyres, still lists the S-1099 in its catalogue. Speaking on behalf of the company, Phillip Delcroix told Tyres & Accessories he was “not aware of any problem.”
GPX Sells Part of Business to Equity Firm
Product News(Akron/Tire Review) No sooner had the ink dried on the merger of Galaxy Tire & Wheel and Dynamic Tire Corp than the combined company – GPX International Tire Corp. – has sold a share of the company to private equity firm Sterling Investment Partners for a reported $41 million.
Continental CEO Says US, Asia Acquisitions Possible
Career TracksContinental AG CEO Manfred Wennemer has said he could well imagine the company making acquisitions in the US and Asia in the future. In an interview with Frankfurter Allgemeine Sonntagszeitung, Wennemer also said there are plans to strengthen the tyre-making business in China.
Chinese Auto Exhibition
Product NewsShanghai International Exhibition for Auto Parts & Accessories (Auto Parts Shanghai 2005) and Shanghai International Exhibition for Auto Manufacturing (Auto Manufacturing Shanghai 2005) are being held on December 6 – 9, 2005 at the Shanghai International Exhibition Center in China.
In Auto Parts Shanghai 2005 / Auto Manufacturing 2005, 250 local and overseas auto parts manufacturers and suppliers will present their latest auto parts, accessories and technology. There are six international pavilions and over 20 seminars will be given by major auto manufacturers and professionals, running alongside the show. The latest show information can be found on www.2456.com/atop
Bosch Plans Major Chinese Expansion
Product NewsAt the opening of a new development and manufacturing facility in Wuxi, China, Franz Fehrenbach, the Chairman of the Bosch Group Board of Management, announced intentions to significantly expand activities into the region.
The number of Bosch manufacturing facilities in the People’s Republic of China has doubled to 20 in the past five years. At the end of 2004, Bosch had invested some 550 million euros in the establishment and expansion of activities. The company now plans to invest a further 650 million euros during the next two years across the country. “Bosch has a strong focus on China. We see it as a core country for our business in the entire Asia-Pacific region” explained Fehrenbach.
