China Archives - Page 86 of 240 - Tyrepress

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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Hankook’s Dynapro HP2 adds SUV to high performance range

Hankook’s most recent addition to its high performance tyre range focuses on the increasingly important European segment of SUV tyres designed for high performance road use. In the March issue of Tyres & Accessories, we discussed the migration of SUV tyres to speed ratings above T; V alone has nearly 10 times the market share (20.4 per cent) it had 10 years ago, and though H (34.5) is currently the predominant designation for the SUV market, it is expected that SUV tyres will continue to follow the trends set by passenger cars. Indeed, 2012 saw a small year-on-year reduction in H’s market share. High performance tyres are now the most important story for SUVs as well as passenger cars.

25th June 2013/12,345 Comments/by Tyrepress Editors

No Cooper production in India, says Apollo

It appears Apollo Tyres is not planning to shift any Cooper Tire production to its factories in India. The Times of India reported on 22 June that the existence of Cooper production sites in low production cost countries makes such a move unnecessary. On the other hand, the Indian tyre maker makes no secret that it will use the acquisition deal to bring its Apollo brand into new markets. And the possibility of Apollo production in Cooper factories also remains.

24th June 2013/12,345 Comments/by Tyrepress Editors

Council hopes Apollo deal will lead to Melksham investment

Melksham Town Council has welcomed Apollo Tyres’ acquisition of Cooper Tire & Rubber. Melksham north ward councillor Pam Wiltshire told local newspaper the Wiltshire Times that “obviously it’s a really good thing for the town, because there have been concerns in the past with what might happen.”

21st June 2013/12,345 Comments/by Tyrepress Editors

Apollo to distribute Cooper range in India

One result of Apollo Tyres’ acquisition of Cooper Tire & Rubber is that the US brand will be distributed in India, to both original equipment market customers and the replacement market. News regarding this was initially published by The Hindu Business Line on 19 June; the Indian financial daily wrote that the first Cooper products to arrive in Apollo’s home market would be SUV tyres, which will be supplied to “various OEMs”.

20th June 2013/12,345 Comments/by Tyrepress Editors

GT Radial R&D investments supporting higher performance products

Established as a leading Chinese tyre brand, GT Radial continues to develop higher performance products through an increasing emphasis on R&D investment, and, in the UK specifically, with its brand experience days for dealers hosted by the company’s European Testing Centre at Mira. Tyres & Accessories’ visit, where the performance of TBR and off-road 4×4 products were demonstrated by the company’s test drivers alongside the highest performing PCR models that are the focus of this article. When T&A spoke with ETC head Eddie Young, who is involved with GT Radial manufacturer Giti Tire’s R&D operations around the world, he played up the growing strength of the brand in this area, which now has close to 300 full-time R&D personnel. The strategy of hiring ex-pats from premium brands has led to an experienced, multinational knowledge base, which is allowing GT Radial to pursue cross-segment original equipment goals in Europe, where it “is already competing for PCR” deals, according to Young.

19th June 2013/12,345 Comments/by Tyrepress Editors

Another Chinese plant for Cheng Shin?

Taiwanese tyre maker Cheng Shin Rubber is reported to be considering building its seventh plant in China. On 19 June the Taipei Times printed comments made to this effect by company vice-president Wu Hsuan-miao (吳軒妙) following Cheng Shin’s annual general meeting the previous day.

19th June 2013/12,345 Comments/by Tyrepress Editors

Cabot to acquire fully Grupo Kuo carbon black joint venture

Cabot Corporation has announced a new agreement with Grupo Kuo SAB de CV to purchase its remaining 60 per cent equity in the companies’ Mexican carbon black manufacturing joint venture, Nhumo, SA de CV. Cabot will pay $105 million for Kuo’s current shareholding, of which $80 million will be paid upon closing, excluding cash acquired. Cabot says Nhumo’s position as a leading carbon black producer in Mexico will help to strengthen its global carbon black business, and help to meet what it says is a growing demand for carbon black throughout North America. Following the announcement Cabot shares increased 2.9 per cent, and the company said it expected an earnings boost of around $0.15 per share as a result of the acquisition in the 2014 financial year. Extending into the next three years, Cabot estimates that operational synergies could increase earnings per share by $0.05 to $0.10.

18th June 2013/12,345 Comments/by Tyrepress Editors

11th CITExpo to be largest show ever

Although there are still some three months until the opening of the 11th China International Tire Expo, the show’s organiser says the number of stands booked and floorspace have already set a new record. According to Wilko Fong, managing director of Reliable International Exhibition Services, he expects more than 320 exhibitors at CITExpo 2013 to occupy 24,000 square metres of exhibition space in the three halls of the Shanghai Everbright Convention and Exhibition Center.

17th June 2013/12,345 Comments/by Tyrepress Editors

European PCR market stagnant in May

In its latest market figures, published 13 June, Michelin reports that Europe’s original equipment and replacement passenger car tyre markets were stable in May, with demand approximately the same as in May 2012. Year to date, original equipment and replacement market demand is down four and five per cent year-on-year respectively.

14th June 2013/12,345 Comments/by Tyrepress Editors

Reifen China | 13/11/2013 – 15/11/2013

Over 10,000 visitors are expected to attend the seventh presentation of the Reifen China in Shanghai. In addition the entire top 15 domestic tyre manufacturers are expected to be in attendance. The show is once again being organised by German exhibition firm messe Essen in cooperation with China United Rubber Coproation (CURC). More information can […]

13th June 2013/by Tyrepress Editors

Apollo to raise $2.1 billion debt via bonds for acquisition

Further details of Apollo’s Cooper Tire acquisition have been published by Indian brokerage house Angel Broking. In its 13 June market outlook report, Angel Broking notes that Apollo Tyre’s acquisition of Cooper Tire & Rubber will be funded entirely through debt. Apollo, it elaborates, plans to form a new holding company in the Netherlands involving Cooper and Vredestein, which would raise US$2.1 billion in debt via bonds. The major portion of the debt will be backed by Cooper and Vredestein’s assets. The remaining debt $450 million debt will be raised at Apollo’s Mauritius subsidiary and serviced by its standalone business, says Angel Broking.

13th June 2013/12,345 Comments/by Tyrepress Editors

The Cooper/Apollo gossip was right

When the rumour mill began grinding in the last quarter of 2012, Apollo did little to counter speculation that it was preparing to buy US tyre-maker Cooper Tire. With the gift of hindsight it seems the gossip was exactly right. Back then, as Tyres & Accessories as well as other observers suggested there was a strong rationale for such a move, but with no-one breaking ranks it was difficult to be more definite.

Now, following confirmation of the move, the purchase is being presented as a strategic merger. But it is also a complex manoeuvre. Apollo, founded in 1972, has an increasing reputation for fast development and particularly with regards to its Apollo and Vredestein brands, which have been able to attain OE contracts with leading carmakers and tuners. Cooper, the 11th-largest tyre company in the world by revenue, was founded in 1914 and supplies numerous brands around the world such as Cooper, Mastercraft, Starfire, Chengshan, Roadmaster and Avon, which is particularly popular in the UK.

12th June 2013/12,345 Comments/by Tyrepress Editors

Apollo to buy Cooper for US$2.5 billion

Apollo Tyres has finally confirmed speculation that the India-based manufacturer is to buy US firm Cooper Tire in a friendly takeover. According to the company the US$2.5 billion deal makes the firm the seventh largest tyre manufacturer in the world with combined revenues of US$6.6 billion. It also gives the manufacturer access to the North and South American markets currently uncovered by its global presence. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40 per cent premium to Cooper’s 30-day volume-weighted average price, according to an announcement detailing the news. We will add further details to this developing story as we receive them. Look out for complete coverage in the July issue of Tyre & Accessories magazine and online at Tyrepress.com.

12th June 2013/12,345 Comments/by Tyrepress Editors

‘Most modern’ butyl rubber plant opens

At an official ceremony on 4 June, attended by around 400 guests, German specialty chemicals firm Lanxess inaugurated its new butyl rubber plant on Singapore’s Jurong Island. Built at a cost of 400 million euros, the facility is the company’s largest ever single investment and is described as being the “most modern of its kind in Asia.” The 100,000 tonne per annum plant will produce premium halobutyl rubber and regular butyl rubber.

11th June 2013/12,345 Comments/by Tyrepress Editors

Kuwaiti tyre graveyard is world’s largest

A landfill site in Kuwait is the resting place of 7 million used tyres, making it the largest of its kind in the world, according to the Daily Mail. While the Mail points out that such a site couldn’t exist in the UK owing to landfill directive, the newspaper does point out the Kuwaiti site is now actually visible from space.

10th June 2013/12,345 Comments/by Tyrepress Editors