Interstate adds 46 new sizes
Interstate Tire & Rubber Co. increased its already large program with 46 sizes. The total number of sizes of their summer tyre range is now more than 300.
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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Triangle: no Russian tyre plant…for now
International News, NewsTriangle Tire representatives have denied online reports that the company is planning to invest in a Russian tyre production facility any time soon. Following online reports which surfaced in August, Tyres & Accessories contacted the company and its UK importer TYM International. According to TYM managing director Steve Eke, there were talks with Russian government officials along these lines last year, but at the start of 2013 the decision was taken not to follow these through any further.
Mouldmaker Greatoo looking to expand into OTR markets
Company NewsChinese mould manufacturer Greatoo Incorporated is reportedly planning to establish intelligent factories for the production of large OTR tyre and speciality as well as other apparently high-end moulds as part of a so-called “structural adjustment strategy”. The move is being seen as a way of strengthening the core value of its company by focusing on the highest value sectors.
Rubber prices enter ‘bull market’, tyre makers will be affected
NewsRubber prices are entering a “bull market” as futures hit a three-month high following indications that China's economy is likely to demand more rubber for tyres. According to a Bloomberg report, rubber for delivery in January advanced as much as 3.2 per cent to 278 yen a kilogramme (2,817 a metric tonne) on the Tokyo Commodity Exchange, 22 per cent up from this year’s lowest close.
Cooper shares slide on investor fears
NewsShares in Cooper Tire & Rubber fell 3.3 per cent to US$31.50 on Monday 26 August, putting the stock down 6.1 per cent in total this month. According to the Wall Street Journal, this marks a two-month low and comes off the back of investor fears that the decision India’s central banks to review large deals by Indian companies may affect the transaction. Indeed one report emanating from India suggests that Apollo Tyres’ big for Cooper Tire is about to get reviewed in particular.
11th CITExpo to be ‘largest’ show yet
NewsThe 11th edition of the China International Tyre Expo (CITExpo) looks set to be the largest prior to the show’s opening. The three halls of the Shanghai Everbright Convention and Exhibition Center are full ready for the show on 4-6 September. The organiser, Reliable International Exhibition Services, says that more than 350 quality exhibitors will occupy 24,000sqm exhibition space, including major tyre industry brands like Cooper, Double Coin, Stamford, Techking and Triangle. Tyres & Accessories/Tyrepress.com will also be in attendance in its role as one of the show’s partners, with a full report from the show due in the October edition of T&A magazine.
Work resumes at Cooper Chengshan, production of non-Cooper brands underway
NewsA spokesperson from Cooper Tire & Rubber’s head office in the US has confirmed to Tyres & Accessories that the Cooper Chengshan joint venture plant, which has now resumed production following strike action, is not manufacturing any Cooper-branded products at the present time; the tyres currently produced at the Rongcheng facility are exclusively other-branded products.
Cooper Chengshan workers end strike
NewsIt appears the strike at the Cooper Chengshan factory in China is over, and the 5,000 workers are back at their jobs and producing tyres. Details of how the strike was resolved are not yet known.
Keyuan to build new SSBR facility
NewsUpon reporting its first quarter 2013 financials on 19 August, China’s Keyuan Petrochemicals Inc. also shared that it intends to add to the company’s Solution Polymerised Styrene Butadiene Rubber. “The increasing market demand in tyre and auto parts has resulted in increasing market demand for styrene, ABS and SSBR,” The company added that “rather than focusing on optimising the current utilisation rates for its different facilities,” it has decided upon expanding capacity through a number of projects, including a new SSBR plant.
Late 2014 production start for Pirelli JV plant now expected
NewsWork on the Indonesian joint venture motorcycle factory part owned by Pirelli is underway following the recent groundbreaking ceremony in Subang, West Java. The Italian tyre maker is 60 per cent shareholder in the PT Evoluzione Tyres (Evoty) joint venture, with Indonesia’s PT Astra Otoparts Tbk holding the remaining 40 per cent.
Linglong opens test centre at IDIADA
NewsAt the end of July Chinese tyre manufacturer Shandong Linglong opened a European tyre testing office at the IDIADA facility in Tarragona, Spain.
At the opening ceremony general manager, Feng Baochun, deputy general manager of marketing, welcomed visitors on behalf of chairman Wang Feng and spoke of the company’s desire to take its products to the next level. Following the ceremony Linglong Tire Europe demonstrated texts designed to assess its radials’ rolling resistance, fuel consumption, noise (there is a semi-anechoic chamber on-site) and other characteristics.
Bridgestone Asia tech centre opens
NewsOperations at Bridgestone Asia Pacific’s new technical centre are now underway following its official opening on 13 August. During the opening ceremony, Bridgestone’s senior vice-president Yoshiyuki Morimoto stated that the new Bridgestone Asia Pacific Technical Center – the Japanese company’s first in the region, excluding Japan and China – will provide technical support across the region and will enable Bridgestone to more quickly respond to customer needs.
Toyo files complaint with US trade body
NewsOn 14 August, Toyo Tire & Rubber, along with its North American subsidiary Toyo Tire Holdings of Americas and its affiliates, filed a formal complaint before the United States International Trade Commission (ITC) against 22 manufacturers, importers, and sellers of passenger and light truck tyres.
Mesnac acquires Test Measurement Systems
Company News, NewsTyre equipment manufacturer and software provider Mesnac has purchased a majority interest in US firm Test Measurement Systems, Inc. (TSMI) for an undisclosed amount. The TSMI brand and identity will be retained following the deal, states Mesnac. Dr. Jerry Potts, CEO of the Akron-based firm, and other senior TSMI management staff will remain with the business and work with Mesnac to identify opportunities for growth, product innovation and diversification.
Nokian profits down in 1H, but quarterly improvements indicate Nordic strength
NewsNokian sales and profits are down 5.7 and 18.4 per cent respectively for the first half of 2013, the company has reported. However the second quarter has been increasingly strong for the company, with net sales totalling 419.1 million euros 1.3 per cent up on the second quarter of 2012. President and CEO Kim Gran said that the company had been strong in the Nordic countries and Russia particularly during this period, and Nokian expects growing winter tyre demand – playing to the company’s strengths – in these countries and in central Europe during the rest of the year.
