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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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Aeolus a DongFeng Racing Team platinum sponsor

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According to Greek mythology, Aeolus was the ruler of the winds, and for this reason Aeolus Tyres’ Western Europe general manager considers sponsoring a participant in the Volvo Ocean Race 2014/2015 highly appropriate. At a press conference in the French seaport of Lorient, Thomas Wohlgemuth said the sponsorship deal with the DongFeng Racing Team had “set the sails towards the right direction” and will aid Aeolus in its goal of positioning itself at the apex of its business segment.

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Related news:

  1. Aeolus sponsored Dongfeng finishes first in home port of Sanya
  2. Aeolus Tyre is a ‘strategic’ enterprise for China
  3. Aeolus-sponsored Dongfeng team second in first leg of Volvo Ocean Race
  4. Groundbreaking held for Maxion-Dongfeng aluminium wheel plant
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Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion

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Cheng Shin Rubber Ind. Co. Ltd. (the parent company of Maxxis International) is investing over US$500 million in building new plants in Indonesia and Taiwan as well as expanding three existing plants in China.

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Related news:

  1. Maxxis re-appoints Dr Wally Chen as chairman
  2. Reports: Maxxis/Cheng Shin planning India factory
  3. Chinese contingent view potential Thai rubber sources
  4. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
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TIA opposes Chinese import tariffs

The Tire Industry Association (TIA) is opposing the International Trade Commission (ITC) that would limit the import of Chinese-made passenger and light truck tyres into the US. TIA previously opposed a similar measure in 2009. According to a statement published today, the association “feels strongly that this measure, despite being well-intentioned, would not help in the preservation of manufacturing jobs, and would be harmful to consumers, as these tyres are often an affordable solution to those drivers with limited budgets. However, the association also reiterates its long-standing position that all tyres – regardless of country of origin – must be held to all applicable Federal Motor Vehicle Safety Standards.”

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Related news:

  1. USA: No antidumping and countervailing duties on Chinese truck & bus tyres
  2. Chinese truck/bus tyres: US court partially rejects determination
  3. USA sets final duties on CV steel wheels from China
  4. Will Europe impose tyre import tariffs?
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CITExpo adds fourth hall in bid to become largest Far Eastern tyre trade fair

When the twelfth China International Tire Expo (CITExpo) kicks off on 10, 11 and 12 September 2014 the organiser (Reliable International Exhibition Services Co, Ltd.) hopes to be able to claim the title of “largest Far Eastern tyre trade show”. And in order to this the company is increasing available floor space by some 20 per cent.

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Related news:

  1. CITExpo aims to break records with its 12th edition
  2. CITExpo 2015 to bid farewell to Everbright with largest edition projected
  3. CITExpo bids farewell to Everbright in 13th edition, previews move to modern facility
  4. ‘A good move’ – Exhibitors & visitors positive about new CITExpo venue
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Hankook scales back production, sets record inventory glut

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Hankook Technodrome

Hankook has slowed its production in response to amassing a record inventory glut. Seoul’s Yonhap News Agency reports that the manufacturer has 660,000 unsold tyres, or 8.5 per cent of its monthly 7.75 million production capacity. The agency quotes an unnamed Hankook source as saying that the growth in demand expected after March had failed to materialise, leading to the surplus.

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Related news:

  1. Mesnac consolidates regional operations into global tooling division
  2. Sentury internationalising with US tyre factory investment
  3. UK car manufacturing at 10-year high
  4. Hankook UK focuses on brand, ups TV advertising budget 50%
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Triangle takes westward steps

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China-based Triangle Group Co. Ltd. may already be the world’s 15th largest tyre manufacturer, according to Tyres & Accessories’ latest global tyre manufacturer ranking, but it is clear that the company is intending to go far further than this. Rhetoric to this effect is not uncommon amongst Far Eastern businesses, but as is always the case, actions speak louder than words. With its latest appearance in Essen Triangle has begun fleshing out its plans to take the company from being a Chinese manufacturer with export sales to being a large international manufacturer with global reach.

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Related news:

  1. The Genesis of Zenises
  2. Show review: Reifen China 2014
  3. ‘Reifen’ show moving to Cologne
  4. Georgia selected as location for $500 million Sentury Tire US factory
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Heuver strengthens national teams

When Tyres & Accessories spoke with Bertus Heuver earlier this year, he shared that Heuver Tyrewholesale was adopting a more geographic-based strategy in regards to its marketing, and was in the process of appointing new team members to enable the wholesaler’s national teams to cover all areas of Europe where it regularly does business. Four members have been added to the Heuver team in recent months.

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Related news:

  1. Michelin Introduces Audio Brand
  2. Federal Sends Mascot Around World for 2010 Calendar
  3. MAI and Heuver Sign European Distribution Deal
  4. Heuver to Boost Agri Tyre Exports
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Cooper: Chengshan tyre plant fire caused ‘minimal damage’

Cooper Tire executives have confirmed that reports of a fire at the company’s Cooper Chengshan (Shandong)Tire Company Ltd. (CCT) manufacturing plant in Rongcheng, China were correct. As far as the details are concerned, writing in an official statement Cooper Tire officials confirmed that the fire took place on 28 May outside of the factory site proper. According to the company, there were no injuries and “minimal damage to property”.

At the time photographs of the fire were published alongside local Chinese reports, however these provided no details of what damage the fire caused or where it actually took place. Cooper has now explained that “the fire involved a scrap tyre area outside the main manufacturing plant structure”. As a result production was temporarily suspended. It has now returned to normal.

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Related news:

  1. Chengshan to buy out Cooper for US$286 million
  2. Fire at Cooper Chengshan Rongcheng factory
  3. Chengshan given first dibs on Cooper Chengshan tyre plant
  4. Cooper Tire closes Cooper Chengshan sale
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Fire at Cooper Chengshan Rongcheng factory

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A fire broke out at the Cooper and Chengshan’s Rongcheng factory in Shandong Province, Eastern China on Tuesday 27 May. Several local news sources including the Xinhua news agency have reported the news and photographs showing a large plume of smoke rising about the factory have also been published.

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Related news:

  1. Cooper: Chengshan worth US$440 million, say valuers
  2. Chengshan to buy out Cooper for US$286 million
  3. Cooper Tire gives Chengshan option to buy, values CCT at US$435 million
  4. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
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China (Guangrao) International Rubber Tire & Auto Accessory Exhibition | 15/05/2014 – 17/05/2014

The 5th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition talkes place between 15 and 17 May 2014. According to  organiser the China International Trade Promotion Committee, more than 600 exhibitors from China and overseas are expected at this year’s show. The previous exhibition in Guangrao, Shandong Province hosted more than 40,000 visitors, the organiser reports. […]

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Related news:

  1. Chinese Exhibition Well Positioned for Growth
  2. TTI Awards shortlist announced
  3. Evergreen to complete second PCR production line in 2013
  4. Interstate gives Dynacargo its UK debut
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New Volkswagen record as 1.99M passenger cars delivered

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Volkswagen has delivered nearly two million passenger cars in the first four months of 2014, setting a new record for the period. 1.99 million vehicles were handed over to customers in the period to April, representing an increase of 4.6 per cent (January-April 2013: 1.91 million). Christian Klingler, board member for sales and marketing for the Volkswagen Group, attributed the success to “good sales developments in China and Europe” and “sustained high demand” for heritage products such as the Golf, now in its seventh generation.

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Related news:

  1. Yokohama Philippines capacity to increase 143% by 2017
  2. Healthy European market growth in December
  3. Passenger Car Tyre Markets Show Strong Growth in Feb – Michelin
  4. Strong start to 2014 for European new car sales
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Dmack a finalist in Cathay Pacific China Business Awards

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Dick Cormack, MD of Dmack

Carlisle based tyre brand Dmack has been awarded a place in the final of the Cathay Pacific China Business Awards. Local news source North West Evening Mail reports that the company is shortlisted in the Rising Star category. The awards recognise UK and Irish businesses demonstrating existing positive returns and ongoing plans for future investment in China and Hong Kong, with the Rising Star award given to those opening Chinese operations in the last five years.

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Related news:

  1. Dmack targeting ‘correct’ dealers to deliver mid-range PCR strategy
  2. Ketomaa sets sights on strong result on Dmack tyres at Rally Portugal
  3. Dmack to take ‘full control’ of tyre production in Marangoni Rovereto deal
  4. Dmack targets home success on GB gravel
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Bridgestone merging China, Asia Pacific tyre business units

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Under restructuring measures Bridgestone is undertaking in the Asia region, Bridgestone Asia Pacific Pte Ltd. (BSAP) will expand its area of responsibility to include tyre operations in China. From 1 July, Bridgestone Asia Pacific – henceforth abbreviated to BSCAP – will become the head office in charge of both BSAP and Bridgestone (China) Investment Co. Ltd., the company’s current Chinese head office.

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Related news:

  1. Annunziato to replace Ohashi as Bridgestone Europe chief
  2. Bridgestone outlines tyre SBU consolidation in 2013MTP
  3. New CEO for Bridgestone Europe
  4. Bridgestone Europe names first COO
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Q1 operating profit a ‘record’, says Yokohama

Yokohama Rubber reports that its operating income reached a record high in the first quarter of 2014. On the back of net income of net sales that were up 9.6 per cent year-on-year to 139.9 billion yen (£810.9 million), operating income jumped 54.6 to 11.7 billion yen (£67.8 million). Net income, at 6.5 billion yen (£37.7 million), was 14.8 per cent higher than in the first quarter of 2013. Sales and earnings increased in each of Yokohama’s three business sectors: tyres, industrial products, and other products. The company says its tyre business’ strong performance reflected robust growth in Japan and sales growth overseas. Operating income benefited in each business sector from a downward trend in raw material prices and from the weakening of the yen, as well as from sales growth.

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Related news:

  1. January-September sales and earnings at record levels – Yokohama
  2. Yokohama 2013 net income climbs 7.3%
  3. Yokohama Net Income Rises Markedly
  4. Yokohama Income Declines in H1 2008
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Cooper Q1 revenue, operating profit down year-on-year

As Cooper Tire & Rubber enters its centennial year, the US tyre maker has reported first quarter operating profit slightly below the record result achieved last year. On the back of net sales of US$796 million, 7.5 per cent lower than a year earlier, Cooper achieved a quarter operating profit of $81 million, 16.5 per cent down on the first quarter 2013 operating profit, which was the highest ever in the company’s 100-year history. Operating profit was 10.2 per cent of net sales. The company reported net income attributable to Cooper Tire & Rubber Company of $0.71 per share, or $45 million, in the first quarter. This compares with $56 million, or $0.87 per share, for the same period last year.

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Related news:

  1. Cooper Tire: 2013 figures show impact of ‘unique challenges’
  2. Two New China Execs for Cooper Tire
  3. Wang Takes on Cooper Kenda Controller Role
  4. Cooper acquisition is a game changer – Apollo MD talks to T&A
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