Indian government moves to restrict tyre imports
India officials have announced restrictions on imports of passenger car, two-wheel, truck and bus tyres in a bid to help boost domestic tyre
manufacturing.
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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Point S opens China pilot centres in Foshan
Point SFollowing its entry into the Chinese market in October 2019, Point S has opened its first two pilot outlets. The tyre retail and car maintenance group formalised its joint venture, Point S China, with Suremoov and Harson, two major players in the Chinese garage market, and the membership of their respective networks. The formation of the JV was introduced at the end of 2019 during the Paris Equip’Auto show, and in an official ceremony in Shanghai on 25 October.
Sentury Tire IPO approval ‘ensuring company’s advancement’ – Davanti
Chinese manufacturer Qingdao Sentury Tire received approval for an initial public offering (IPO) on the Shenzhen Stock Exchange earlier in the month. The tyre maker is mainly known in the UK for supplying Landsail tyres through wholesaler Grouptyre, as well as being a manufacturing partner of Davanti Tyres. Tyres & Accessories asked Sean Maddocks, Davanti sales director for UK and Ireland, what the IPO would mean for its own relationship and growth plans.
Maxxis re-appoints Dr Wally Chen as chairman
Maxxis InternationalFormer Maxxis International president Dr Wally Chen is leaving retirement to assume the chairmanship of the company. Dr Chen, who oversaw Maxxis’ rise to the ranks of the world’s top 10 tyre companies, will assume the chairmanship effective immediately following a vote by the company’s board of directors at a recent meeting. He replaces former Maxxis/Cheng Shin chairman Robert Lo (pictured).
China International Tire Expo postponed until August 2021
CITEXPOShanghai tyre and wheel trade show, China International Tire Expo (CITEXPO), has been “postponed until 16-18 August 2021” due to the COVID-19 pandemic. The show – the largest event of its kind in China – will take place at the Shanghai World Expo Exhibition & Convention Center, its venue since 2016. The annual show has a strong emphasis on international business visitors, with representatives of 120 countries attending each year. The announcement confirms our report that there would be no CITExpo in 2020 earlier this month.
Prinx Chengshan develops label-topping tyre
Prinx ChengshanMany international manufacturers view a good EU tyre label result as a benchmark of product performance. At the end of 2018, Prinx Chengshan’s research and development centre in China began work on its ‘AA1’ project, with the aim of developing a product achieving the best label category for wet grip, rolling resistance and noise. The tyre maker reports that it’s achieved its goal.
Triangle returns to China car tyre top 10, Michelin retains top spot
Stephen GoodchildTriangle Tyre expresses pride in its comeback as a top-ten consumer tyre brand in the China Brand Power Index (C-BPI) 2020. The brand occupies ninth place, ahead of domestic rivals such as Warrior, Chaoyang, Giti and Linglong.
No CITExpo show in 2020
Stephen GoodchildOriginally scheduled to take place between 17 and 19 August this year, the 18th edition of the China International Tire Expo (CITEXPO) has been postponed due to the COVID-19 crisis. The tyre and wheel trade fair is now scheduled to return to the Shanghai World Expo Exhibition & Convention Center between 16 and 18 August 2021.
Coronavirus creates shipping problems for tyre importers
PexelsChinese celebrations of Lunar New Year (25 January) were muted this year by the emerging coronavirus crisis, with the huge amount of personal travel associated with the holiday period down around 45 per cent. Yet global business’s reliance on China’s manufacturing meant that large orders were, as usual, preplanned to take into account the two to three weeks of manufacturing slowdown at this time of year. In the UK tyre sector, the result is that a large number of tyres that will likely exceed some distributors’ warehousing capacity are now arriving at UK ports. Freight forwarder, Maritime Cargo Services is offering one solution to companies experiencing this problem.
Cabot completes acquisition of Shenzhen Sanshun Nano New Materials
Cabot Corporation has completed its previously announced acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) for approximately US$115 million. The business will be integrated into Cabot’s Performance Chemicals Segment.
Linglong Tire wants place in global top-5 by 2030
Linglong Tire aims to become a top-five tyre maker by 2030. It voices this goal in a recently-published document outlining the company’s mid- and long-term strategy. Specifically, it intends to increase tyre production to 160 million pieces a year within the next decade, and by doing so grow annual sales revenues to more than RMB 80 billion (£9.1 billion).
China’s vehicle market heading for 2020 decline – GlobalData
China’s vehicle market was down 43 per cent in March, at 1.43 million units. David Leggett, automotive editor at GlobalData, said that April “will be key to seeing how the recovery to demand is shaping up and also how robust it is.”
Linglong to build 5th Chinese manufacturing base in Changchun
Chinese tyre manufacturer Linglong has held a project launch ceremony for its fifth Chinese manufacturing base in Changchun, Jilin Province. Dignitaries from Changchun, Jilin, China FAW Group Corporation, China Rubber Industry Association, and Linglong partners attended the event. The event marks the latest step in the manufacturer’s “5+3” global production strategy, which is designed to “achieve sustained, stable and healthy development,” Linglong states. It currently has four Chinese manufacturing bases in Zhaoyuan, Dezhou, Liuzhou, Jingmen, a well as one in Thailand and a further international plant under construction in Serbia. Furthermore, Linglong said it would upgrade its strategy to “6+6”; six plants in China and six internationally.
Sailun raising truck tyre capacity by 3 million units
Sailun Group is investing just over RMB 2 billion (£226 million) to increase truck tyre capacity at its Liaoning, Shenyang Province plant by 3 million pieces a year. The company’s wholly-owned Sailun (Shenyang) Tire Co. Ltd. subsidiary broke ground on the project on 1 March.
Pirelli and Hixih move closer together
On 1 April 2020 Camfin SpA, a key shareholder in Pirelli which shares the Italian tyre manufacturer’s close connections with Marco Tronchetti Provera, announced that Camfin and Longmarch Sàrl had signed “a preliminary and non-binding Memorandum of Understanding [MoU] to evaluate a possible strategic partnership, aimed at developing activities in private equity, including the healthcare sector. However, while Camfin is an investment company and Longmarch is a separate Luxembourg-based vehicle, the two firms are related to Pirelli and the Chinese Hixih Rubber Group respectively. And therefore, the latest news could also indicate that Pirelli and Hixih are moving closer together.
