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.
The United States International Trade Commission has launched an investigation into dumping allegations related to Chinese-produced truck and bus tyres sold in the US market. The ITC released information on its action on 29 January; the decision to commence preliminary anti-dumping and countervailing duty investigations follows the lodging of a petition by the United Steelworkers union.
In 2015 the British car manufacturing industry made more cars than any year since 2005 when 1,595,697 vehicles were produced, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Data released on 21 January shows that production increased 3.9 per cent on 2014, with output at 1,587,677 overtaking pre-recession levels for the first time.
Carbon black supplier Orion Engineered Carbons S.A. shares that its acquisition of the remaining 64 per cent share in the Qingdao Evonik Chemical Co. Ltd. (QECC) carbon black business in Qingdao, China has now been completed.
Leading chemical group China National Chemical Corporation, or ChemChina, has agreed to acquire machinery manufacturer KraussMaffei Group from Onex Corporation for a cash enterprise value of 925 million euros. ChemChina’s acquisition of the KraussMaffei Group covers the German company’s three brands of products, including the KraussMaffei Berstorff range of extruders, roller head systems and cap strip systems for the tyre industry. The transaction is subject to closing conditions including customary regulatory approvals.
Titan International has filed petitions with the US International Trade Commission and the US Department of Commerce for relief from imports of off-road tyres from China, India, and Sri Lanka. The petitions were filed jointly with the United Steelworkers union and allege that imports from China and India are being dumped in the US market in violation of international trade agreements and that imports from all three countries are benefitting from improper government subsidies.
Approval has been given for the long-anticipated Triangle Tire Co Ltd. initial public offering. The Shanghai Stock Exchange disclosed on 6 January that the go-ahead was granted at the meeting of the exchange’s Issuance Examination Committee held earlier that day.
It’s now over a year since Cooper Tire & Rubber completed the sale of its share in the Cooper Chengshan (Shandong) Tire Company Ltd joint venture. At the time, company chairman, chief executive and president Roy Armes mentioned that Cooper would “identify and develop alternative sources” for the tyres produced at the Cooper Chengshan plant; he identified a further joint venture as one potential option. The tyre maker reports it has realised this alternative source and has entered into an agreement to purchase a majority of China-based Qingdao Ge Rui Da Rubber Co., Ltd (GRT).
Giti Tire closed its Chongqing, China truck tyre factory in November 2015 the company has confirmed. This means that roughly 90 per cent of the plant’s 1,100 workers will lose or have already lost their jobs, leaving around 100 staff in work.
New year, new trends It seems a bit pessimistic to start 2016 with a reference to recession. Nevertheless, when Bank of England deputy governor Minouche Shafik suggested the UK tyre industry is in the grip of recession-based consumer behaviour at the end of 2015 she highlighted an important point. The market is encountering different purchasing […]
Dana Holding Corporation has been named the ‘Best Battery Solution Provider of the Year by the China Decision Makers Consultancy (CDMC). The honour recognises Dana’s research and contributions to thermal-management technologies for hybrid-electric vehicles and battery-electric vehicles.
Step off the plane and into a car at Qingdao airport and it won’t be long before you see a Sentury Tire billboard. While this particular Chinese tyre manufacturer isn’t a global player, it is rapidly internationalising and is selling millions of tyres in Europe (many of which end up in the UK). The firm is expanding very quickly and recent high-profile appointments and off-shore factory investment announcements suggest the firm is well and truly on a growth path. Towards the end of 2015, Tyres & Accessories met with export sales manager Hellen Yang and Davanti vice-general manager Wilson Zhang for a tour of the firm’s large and very modern factory near Qingdao airport.
The timetable for the relocation of Kumho Tire’s factory in Nanjing, China has been set out. The shift to a new site will take place in stages throughout 2016 and will see the plant set up in an economic development zone in Pukou, some 19 miles (30 kilometres) from the original factory site. Both the passenger car tyre factory and the truck and bus tyre factory should be relocated to the new location by the end of next year.
Automechanika Shanghai 2015, the second largest Automechanika event worldwide, will open from 2 – 5 December at the National Exhibition and Convention Center, Puxi, Shanghai, with record exhibitor numbers expected. Overall this is set to be the largest Automechanika Shanghai to date. Alongside exhibition space and numbers, 100,000 global buyers and trade visitors are expected, an increase of 12 per cent on last year.
Tyres & Accessories first met Duraturn at Reifen China in Shanghai in 2009. This wasn’t long after the company was founded in 2008 and yet the young companies ambitions were clear. At the point, the firm was not export ready, but things changed markedly in the few years that followed. The next time T&A met company representatives in 2010, less than two years after the business’s foundation, Duraturn’s production base was already well on the way to producing 1 million truck tyres a year truck and bus radial tyre production plant. The company broke ground on its passenger car radial tyre manufacturing line in 2013 and two years later is producing, modern compliant products for sale in China and for international export.
Originally the company referred to itself using the firm’s official name – Shaanxi Yanchang Petroleum (Group) Rubber Co., Ltd. Now the company is bringing its tyre businesses under the more international “Duraturn” brand and embarking on an internationalisation programme that this year sees the firm put an emphasis on building business relationships in the UK.
Further to Tyres & Accessories’ detailed report on Qingdao Doublestar Tire Corp’s expansion plans last week, the company has released further information about the truck and OTR tyre joint venture it is setting up in Kazakhstan.
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