CITExpo | 09/09/2015 – 11/09/2015
The 13th China International Tire Expo (CITExpo) kicks off on 9 September 2015. Organiser Reliable International Exhibition Services Co, Ltd.
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
Rosneft and ChemChina sign cooperation agreement
Rosneft and China National Chemical Corporation (ChemChina) signed a Heads of Agreement on cooperation in equity investment in ChemChina Petrochemical Corporation (CCPC) and a Memorandum of Understanding for cooperation on the project of the Far-East Petrochemical Company (FEPCO).
Regulator approves ChemChina/Pirelli offers
Marco Polo Industrial Holding S.p.A. , which is indirectly by China National Chemical Corporation (ChemChina), through China National Tire & Rubber Co., Ltd., has confirmed that the regulator (Consob) has approved the firm’s offer document related to the mandatory tender offer of the ordinary shares of Pirelli & C. S.p.A. listed on the Electronic Stock Market and the voluntary tender offer launched by the same firms.
Martins Industries adds new sales representatives
Tyre racking and equipment firm, Martins Industries has appointed Anthony Adams as a technical representative for Western USA. Adams is a Nebraska University business graduate with years of experience in sales. He joins a “young and dynamic team” at Martins Industries.
Investment in rideshare start-up broadens Michelin’s product promotion horizons in China
Through its Incubator Office, Michelin has invested in a start-up in China that has developed and promotes a mobile application dedicated to providing ridesharing matches and services. The company is called Luli Information Technology (路俪科技), and Michelin sees growth potential for the firm in what it believes will be a significant market for ridesharing – a concept the tyre maker views as a “key component of a multi modal transportation ecosystem for today’s cities.”
US releases report on Chinese tyre tariffs
The full report on the circumstances and arguments behind the decision to approve antidumping and countervailing duties against passenger car and light commercial vehicles tyres from China has been published by the US International Trade Commission. The report, titled ‘Certain Passenger Vehicle and Light Truck Tires from China’, can be read here.
Even cheaper Chinese tyres?
While ChemChina’s deal with Camfin to take over Pirelli officially got under way this month, not everyone connected to the economy in the People’s Republic was looking so positive. The stock market has been in freefall and industrial production looks to have taken a big hit. The Chinese state’s answer? To devalue the national currency (the yuan renminbi or RMB) three times in a week and make already cheap Chinese exports even cheaper.
Davanti launches taxi and van tyres
Davanti has released two new tyres, the DX420, designed specifically for Hackney Carriages and the DX440 a rugged van tyre. The new tyres will be officially launched at China International Tyre Expo in Shanghai from 9 – 11 September where Davanti is at stand 5010, West Hall.
Pirelli and ChemChina agree closing date, triggering mandatory tender offer
CNRC (ChemChina), Camfin and its shareholders have announced that all the necessary antitrust and regulatory approvals for ChemChina’s purchase of the majority of Pirelli (as announced on 22 March 2015) have been obtained. Therefore the aforementioned parties have agreed to complete the transaction on 11 August 2015. As a result, the pre-announced mandatory tender offer for the remaining shares (at 15 euros each) will be triggered.
Nama launches new PCR and TBR lines at Automechanika Dubai
Between 2 and 4 June Qingdao Nama Industrial Co. Ltd. presented new ranges of passenger car and truck and bus radials at Automechanika Dubai 2015.
Final US vote approves tariffs for Chinese tyres
The US Department of Commerce will issue antidumping and countervailing duty orders on certain passenger car and light truck tyres imported from China after a three-to-three vote by the United States International Trade Commission (ITC) determined the domestic tyre industry is “materially injured” by imports of “subsidised” Chinese tyres that are sold in the USA at “less than fair value.”
Retail service centres to boost Cooper Tire’s brand recognition in China
Cooper Tire & Rubber has shared news of its work with tyre dealers in China to elevate Cooper brand awareness amongst consumers, including the many first-time car buyers in this enormous market. The tyre maker says that over the past eight months it has collaborated with dealers to introduce a new retail concept. So far this has led to the opening of four Cooper ‘Superfeel Centers’ in China. The first of these outlets opened in Shanghai in November 2014, and this was followed by centres in Shandong (January 2015), Beijing (March 2015) and Chengdu (July 2015). These four sites will be joined by two more Superfeel Centers, in Baoding and Inner Mongolia, by the end of this year.
Automechanika Shanghai 2015 in new, larger venue
Automechanika Shanghai sees Asia’s largest trade fair for automotive parts, accessories, equipment and services move to a new location – the National Exhibition and Convention Center, Puxi, Shanghai. The event, which will be held 2 – 5 December 2015 hopes to capitalise on the expanded venue with 280,000 square metres of exhibition space, up 27 per cent from 2014. Indeed the Parts & Components sector will expand exhibition space to 146,000 sqm alone.
Reports: Deruibao bankrupt
Reports suggest that struggling Shandong, China-based tyre manufacturing Deruibao tyre has now officially declared bankruptcy. As Tyres & Accessories reported in February, the company called on local Grungrao County officials for support who tried to restructure the business. Qingdao Doublestar and Hengfeng tyre were also linked to the firm as possible buyers.
South African tyre association seeks anti-dumping protection
The association representing the interests of four tyre majors in South Africa would like to see anti-dumping duties imposed on cheap tyres entering the country. The South African Tyre Manufacturers Conference (SATMC), which acts as the ‘generic face’ of Bridgestone, Continental, Goodyear and Sumitomo in their dealings with government, the motor industry and the public, intends to petition the International Trade Administration Commission of South Africa (ITAC) for protection against these imports.
