China Archives - Page 236 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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SmarTire signs Chinese distribution agreement in principle

SmarTire Systems has announced that it has signed an agreement in principle appointing Beijing Boom Technology Co. Ltd. as the master distributor of SmarTire’s Tyre Pressure Monitoring Systems (TPMS) in China. Beijing Boom Technology has agreed to purchase over $1.5 million in additional aftermarket passenger car TPMS systems at fixed intervals over the next twelve months. In order to maintain its status as SmarTire’s master distributor in China, Beijing Boom Technology must also purchase approximately 3.9 million dollars in additional aftermarket passenger car TPMS systems during the twelve-month period commencing September 1, 2004 and establish a network of certified dealers in all provinces of China by May 1, 2004.

11th September 2003/by Tyrepress Editors

DaimlerChrysler In Chinese Deal

DaimlerChrysler has signed a deal worth one billion Euro with the Beijing Automotive Industry Corp. to make cars and trucks in China. Around 25,000 C-class and E-class Mercedes will be produced a year by 2012. The agreement will allow DCX to own up to 100 per cent of the venture, once restrictions on foreign ownership are removed, as expected – at present, foreign investors can own a maximum of 50 per cent of any joint venture.

9th September 2003/by Tyrepress Editors

Goodyear Dunlop UK Director

Goodyear Dunlop has appointed Paul Wilde (39) as Director, Consumer Strategic Business Unit, UK. The role gives him responsibility for the consumer business of Goodyear Dunlop, covering car, van and 4×4 tyres. He joins Goodyear Dunlop from Reckitt Benckiser, where his responsibilities included Sales Director for China, General Manager, Philippines and Regional Project Director, East Asia.

1st September 2003/by Tyrepress Editors

Michelin’s First Half Figures – A Mixed Bag

Michelin has released financial figures for the first half of the year. Sales were down 6 per cent to 7.348 billion Euro, but excluding currency effects, this would be a rise of 4.4 per cent. Operating profit rose one per cent to 578 million Euro and net income was 165 million Euro; below what was expected, but this was almost entirely due to charges of 178 million Euro for restructuring in Spain. Truck tyre sales were better than expected, while car tyre revenues were worse. Michelin’s debt increased by 0.1 billion Euro to 3.9 billion, due largely to the acquisition of the Viborg chain.

1st August 2003/by Tyrepress Editors

VW To Double Capacity In China

VW is set to invest six billion Euro over the next five years to double capacity at its two Chinese joint venture plants to 1.6 million vehicles a year. The company is also looking for new manufacturing sites in China. The initial one billion Euro investment in the factory at Changchun will be funded entirely from revenues from the Chinese market.

17th July 2003/by Tyrepress Editors

“China Still Ideal For Manufacturing” Says Michelin

An article in Asia Times quotes Eric Jugier, chairman of Michelin (China) Investment Co. Ltd., as saying that the company still considers China “an ideal investment destination for the world manufacturing industry”. He is also quoted as saying that Michelin plans to turn its operations in mainland China “into its biggest manufacturing base in the world”.

10th July 2003/by Tyrepress Editors

Battery market under pressure

In the past we have often commented on the similarities between the battery and tyre markets, notably in the problems faced by both and their reactions to these. One such appears to be a sharp increase in the number of batteries entering the market from the Far East. It is true that many manufacturers in the tyre industry have moved their production to low-cost countries and they are not alone – witness the recent spate of press reports revealing that more and more call centres are deserting the UK and relocating to India – so why should this not be the case for batteries? After all, if all markets are faced with the same economic realities, then is it surprising that their responses are similar?Undoubtedly, there is an element of this in the figures, but no doubt some of the increase is due to products being made by companies originally based in Asia and sold aggressively on the European market.Battery imports from Asia to the EU rose last year by five per cent, to 7.3 million units. Not far behind were imports from Eastern Europe, which were up by four per cent.Most dramatic was the performance of China, which is now Europe’s main Asian importer, with 2.4 million batteries sold in the EU last year; an increase of 38 per cent over the previous year. But it is not only China, as batteries are coming into the EU from South Korea, Indonesia and Taiwan. In the UK aftermarket, Asian battery imports now account for over 50 per cent of all UK imports.

8th July 2003/by Tyrepress Editors

VW Cuts Output In Mexico

Falling car sales in the USA have led VW to announce a cut in output at its plant in Mexico by 23 per cent. The move will entail laying off around 2,000 workers and contrasts with news earlier in the week that VW has approved an increase in production at its Chinese operations. Last year, China took over from Germany as VW’s largest single market.

4th July 2003/by Tyrepress Editors

Toyota Alliance Boosts Production In China

Toyota is in talks about forming an alliance with Guangzhou Automobile to manufacture vehicles in China. The Japanese company says that it is also in talks with other, unnamed, local manufacturers. Toyota has been slow to take advantage of the growing Chinese market and the latest moves are seen as an attempt to catch up with its rivals.

4th July 2003/by Tyrepress Editors

Car Manufacturers Urging Suppliers To Head East

In North America, Ford and GM are encouraging their suppliers to produce more parts in China, not only to support locally-made vehicles, but to enable them to match a “world price”, based on a Chinese price. The companies offer a deal where, if a supplier builds a factory in China, it can sell to Ford and GM factories in North America. GM Europe denied that it was pressurising suppliers to re-locate, although if a supplier asked GM how he could cut costs, he might be advised to move to China or Korea.

1st July 2003/by Tyrepress Editors

Visteon Moves To China

Car parts producer Visteon is moving its Asian HQ from Tokyo to Shanghai in order to capitalise on the growth in demand for vehicles in China. Visteon has five joint ventures in China, all supplying the domestic industry, and last year they turned over $550 million, compared with $350 million from Japan.

25th June 2003/by Tyrepress Editors

Auto Shanghai attracts 200,000

Auto Shanghai 2003, the 10th International Automobile and Manufacturing Exhibition, proved to be a great success, with 730 exhibitors from 23 countries and a show area of 81,000 square metres. The event ran from 21st to 25th April and attracted almost 200,000 visitors to the Shanghai New International Expo Centre.The 200 or so exhibitors from the automotive supply industry included a group of 50 companies from Germany.The show was held against a background of rising numbers of cases of SARS and in view of this problem, the organisers took a number of precautionary measures. Shanghai’s municipal authorities took the decision to close the show three days early in order to avoid the expected floods of visitors from other regions of China over the weekend. In general, this was welcomed by exhibitors, many of whom said that the visitor response had been so positive that they had achieved their trade fair objectives, despite the early closure.

11th June 2003/by Tyrepress Editors

Bridgestone To Build Auto Components Plant In China

Bridgestone is to build a factory in China’s Jiangsu Province to make anti-vibration products for automobiles, both for the domestic market and export. Total investment in the four hectare site will be US$ 16 million, with production planned to start late 2004 and reaching 150,000 units a month in 2005. The plant, which will be a wholly-owned subsidiary of Bridgestone Corporation, will operate as Bridgestone (Changzhou) Automotive Products Co. Ltd.

28th May 2003/by Tyrepress Editors

Bridgestone To Invest In Thailand Too

Bridgestone is to invest 12.6 billion Thai Baht (256.79 m Euros) to raise output in Thailand of tyres, cord and carbon black, in order to meet expected rising global demand. Steel cord production at the Chon Buri factory will triple to 28,000 tonnes by 2005 and work will start on building a tyre factory there next April, producing 900,000 radial truck and bus tyres in the second half of the year. The Bridgestone group in Thailand consists of seven companies and the latest investments will see the local workforce grow from the present 3,600 to 5,500.

28th May 2003/by Tyrepress Editors

Hyosung Board Meets In China

The board of directors of Korean company Hyosung is to meet in China in order to demonstrate the importance of trade in that country. The company is currently building plants to produce fibre in China; not merely to take advantage of the cheaper labour, but because of the growing Chinese market.

19th May 2003/by Tyrepress Editors