China Archives - Page 240 of 241 - 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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Joint Venture To Manufacture And Market Car Radials In China

The Yokohama Rubber Co. Ltd has announced that the Chinese Government has approved the establishment of a joint venture company in January 2002 to make and market radial car tyres in China. It is a jv between Yokohama, YHI Holdings (of Singapore) and Hangzhou Rubber, of China. Production will begin in April 2003, initially of 750,000 tyres a year. A second stage of investment will increase this figure up to 1.5 million tyres, depending on demand. Each stage will require an investment of $30 million.

28th December 2001/by Tyrepress Editors

Second ContiTech Fluid Joint Venture in China

ContiTechFluid, the business unit of tyre producer’s subsidiary ContiTech, has recently purchased 51 percent of shares of Chinese hose producer Grand Ocean (Chang Chun). From January 2002 the 100 employees will produce parts for VW models Jetta and Bora and the Audi A6. The project in the north of China requires an investment by ContiTech of up to five million euro.

28th December 2001/by Tyrepress Editors

Asian Auto Sector – Outlook Not Too Bad

At a time when vehicle markets in the US and Europe are set to fall sharply, the outlook for most of Asia is not too bad, says a report from industry strategists Autopolis. It predicts a downturn in the region for this year and next, but, as 2000 saw record car sales (excluding Japan), the drop should be manageable. This year, only China and Malaysia are forecast to see sales of vehicles rise. The Japanese market is predicted to fall this year by 4.3 per cent and 2.4 next. For Asia outside Japan, the figures are minus 5.5 per cent (2001) and minus 3.3 per cent (2002). 2003 should see an upturn both inside and outside Japan, says Autopolis.

30th November 2001/by Tyrepress Editors

Indian Tyre Industry Threatened By Imports

The Indian tyre manufacturing industry may be under threat from cheap imports from China. The lifting of trade restrictions with China has already created trading problems for many of India’s smaller industries. Presently imports from China form only 2.87% of India’s imports, but the arrival of cheap, mass produced products from China has indicated the lack of preparedness of Indian industry to meet the new competition. Tyre manufacturing has been highlighted as a potential victim as businesses move from manufacturing to importing.

30th November 2001/by Tyrepress Editors

Rubber Prices Down In The Dumps

The price of rubber, at US$0.54, is the lowest for 30 years. Tyre producers, who buy two-thirds of rubber production, are being very cautious in view of the falling demand for cars in the large industrial countries. Thailand, Indonesia and Malaysia want to keep prices high through a cartel but to date have not been very successful. Competitors Vietnam and Cambodia are increasing production, which has kept prices low. The rubber producers are pinning their hopes on China which – if it joins the World Trade Organisation – will import more rubber.

30th November 2001/by Tyrepress Editors

Korean Joint Venture For Mannesmann Sachs

The “Sachs Korea Suspension Company Ltd.” joint venture with Kasco will take over the shock absorber and pneumatic spring activities from the leading manufacturer of automotive components with headquarters in the Pusan area and supply the Korean car manufacturers.

30th November 2001/by Tyrepress Editors

OE Success For Korean Tyres

Hankook is to deliver spare tyres, size 125/80-17, for the Volvo models S 60, S 80, C 70 (Cabriolet) and V 70. The order volume is approx. 200,000 units and the profit margin is described as “satisfactory”. Hankook is also entering the OE business in China. The manufacturer is to deliver tyre sizes 195/65-15 (H and V-rated) as well as 205/60-15 (V-rated) for the VW models Passat and Bora.

30th November 2001/by Tyrepress Editors

Concern Over Asian Auto Sales – Report

A recent report from autopolis, the organisation offering strategic advice on the world’s auto industry, expresses some concern about future vehicle sales in Asia. It forecasts reduced sales in markets other than China for this year and next, picking up in 2003. Long term, says autopolis’s Graeme Maxton, Asia’s auto sales will grow by nearly five million units over the next ten years.

30th November 2001/by Tyrepress Editors

On Its Way To Becoming A Global Tyre Brand

Vredestein boss Rob Oudshoorn is interested in making the Vredestein brand – already well-known in Europe – a global brand. In Asia, T-Trac and Protrac tyres are produced by sister company Elangperdana Indonesia for use in the Asia region of Indonesia, Malaysia, Taiwan, Hong Kong, China etc. The Importer Tyreland is the business partner at the other end of the world in New Zealand. This has been learned from the latest company brochure News Flashes which is distributed to the trade. At the moment it is not easy to cover Vredestein stories due to the fact that there is obviously no press office in the Dutch company.

30th November 2001/by Tyrepress Editors

Ongoing Pressure On Goodyear

According to the monthly investors’ update, the group is still under pressure. In the US the replacement business was quite good, not so in the OE business. In Europe, the group is suffering because of the warm weather, which is having a negative effect on sales of winter tyres, and in Asia, the company has been forced to lower prices due to the fact that cheap imports from China are putting pressure on prices. In a cost cutting move, Goodyear is offering an early retirement package for around 700 white collar workers, half of them working in the Akron HQ.

30th November 2001/by Tyrepress Editors

Appeal Puts Goodyear Back In Court

China Tire Holdings Ltd and Orion Tire Corp’s Lawsuit against Goodyear has been sent back to the federal court by the 9th Circuit Court of Appeals. This revives a long-standing battle over China’s grant of a joint venture plant to Goodyear. The claimants say that Goodyear unlawfully persuaded a state-owned factory to abandon a contract with China Tire. China Tire alleges that Goodyear gave gifts, including jewellery, scholarships and travel to Chinese officials. The case though may face early dismissal if China Tire do not present adequate new pleadings.

30th November 2001/by Tyrepress Editors

Focus On Core Business As Continental Seeks To Sell ContiTech

The executive board of Continental has said that it is looking to sell major parts of the ContiTech group in order to reinforce Conti’s core business as a supplier of chassis technology to the auto industry. The revenue generated will enable Conti to make further acquisitions. ContiTech’s sales last year were 1.4 billion Euros and it employs 14,000.

30th November 2001/by Tyrepress Editors

Vietnamese Rubber Producers Call For Export Limit

Vietnam’s rubber producers have called for a limit on exports of crude rubber. Exports to countries such as China have increased to the stage where the domestic rubber processing industry is facing a shortage of raw materials.

30th November 2001/by Tyrepress Editors

Chinese JV Company “Will Make Warrior And Michelin” Tyres

The joint venture has been confirmed between Michelin and the Shanghai Tyre & Rubber Co. to make radial tyres, steel cord and compounds. The new company will be called Shanghai Michelin Warrior Tire Co. and the JV is worth US$200 million. Michelin has a 70 per cent stake and STRC 30 per cent. Reports from China say that the company will continue to produce Warrior brand tyres and, at some time in the future, Michelin group products.

30th November 2001/by Tyrepress Editors

China Tire Holdings Seeks $3.5 bn Damages From Goodyear

China Tire Holdings, listed on the NY Stock Exchange since 1993, has brought a law suit against Goodyear in Ohio. Amongst other things the Chinese company accuses Goodyear of violating the RICO statutes and is seeking US$ 3.5 bn in actual and punitive damages from the American rubber giant.

7th December 2000/by Tyrepress Editors