China Archives - Page 96 of 247 - 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.

Tag Archive for: China

Giti Tire Group turnover slightly up, income stable in 2012

Last year the Giti Tire Group increased its revenue by 2.1 per cent while its net income remained virtually at 2011 levels. The company told our sister publication Neue Reifenzeitung that revenue increased year-on-year to 3.02 billion euros; in 2011 the total revenue for Giti Tire and PT Gajah Tunggal, with their factories in China and Indonesia, was 2.96 billion euros. Operating profit jumped 42.9 per cent to 258.53 million euros, a figure that represents an 8.6 per cent yield on turnover. Net income decreased 0.3 per cent year-year to 113.17 million euros.

30th April 2013/12,345 Comments/by Tyrepress Editors

NDI – Combining flexibility and good prices

A common theme while talking with wholesalers this year has been the need for flexibility. Various companies are approaching this in different ways, and Danish wholesaler Nordisk Dæk Import, better known as NDI, has chosen a path not yet taken by any other European wholesaler. In order to offer customers the double advantage of flexible ordering and competitive prices, the company has established a new warehouse in Qingdao, China, near where its Nordexx private brand is manufactured. From this warehouse, NDI will directly supply Nordexx-brand and other products to its European and international customers; in early March the first shipment of Nordexx tyres arrived in the new Qingdao warehouse, and by April the full Nordexx range was in stock.

29th April 2013/12,345 Comments/by Tyrepress Editors

Bauma 2013: OTR segment companies anticipate sound growth

Every three years Bauma, the international trade fair for construction machinery, mining machinery, construction vehicles and equipment, takes place in the German city of Munich. The show also serves as a focal point for tyre makers, wholesalers and equipment suppliers serving the off-road segment. And although many within Europe’s tyre industry are not experiencing the best of times at the moment, most Bauma exhibitors were nevertheless in very high spirits and saw themselves, as companies active within the OTR tyre sector, as an “island of the blessed” surrounded by a highly contrasting situation in the passenger car and truck tyre markets. Many exhibitors expressed hope of once again experiencing sound growth within their market segments in 2013, yet one thing was clear: Everyone in the market realises that, in the long-term, real growth will only take place outside of Europe.

29th April 2013/12,345 Comments/by Tyrepress Editors

Kumho passes 100 million tyre milestone in China

Speaking at the Auto Shanghai 2013 show, Cao Zhuangzhu, Kumho Tire (China) Sales Company Ltd’s general manager of marketing and logistics, reported sales of 100 million tyres in China as of the end of 2012. “Following the establishment of diplomatic relations between China and South Korea in 1992, Kumho Tire was one of the first foreign-funded enterprises to invest in China, and construction began on our Nanjing plant in 1994,” he added. “Today we have a total of more than 5,500 employees and an annual production capacity of more than 30 million tyres.”

26th April 2013/12,345 Comments/by Tyrepress Editors

Bridgestone donates to China earthquake relief

The Bridgestone Group has expressed its “deepest condolences to the victims and those who lost loved ones as a result of the April 20 earthquake in Sichuan Province, China” and announced it will donate 15 million yen (approximately £100,000) to support relief efforts through the Japanese Red Cross Society. In addition, Bridgestone (China) Investment Co., Ltd., the company's subsidiary in China, will donate RMB 300,000 (£31,500) to support relief efforts through the Red Cross Society of China.

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

Titan net income down 42.5% yoy in Q1 2013

Titan International has announced “another record quarter” during the first three months of 2012, however the figures behind this impressive-sounding statement make for rather modest reading. While sales are up 24.9 per cent over the first quarter of 2012, the tyre maker only managed a small increase in gross profit, while adjusted net income declined significantly. Earnings per share were less than half what they were a year ago, although admittedly they show an improvement on Q4 2012. Titan says it remains focused on its goals, however, and sees many opportunities in the agricultural and mining sectors where it is most active.

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

Heuver focusing on customer relationships, introducing new products in 2013

Less then five decades after starting out as a one-man tyre business in western Holland, Heuver Tyrewholesale has grown into a major commercial segment wholesaler. Today the company is headquartered in Hardenberg, near the Dutch border with Germany, and specialises in supplying truck, OTR and agricultural tyres to customers throughout Europe. Tyres and Accessories recently spoke with director Bertus Heuver about Heuver Tyrewholesale’s current activities and focus; he shared that during 2013 the wholesaler is introducing an entirely new brand and intends to grow in at least two key regions.

23rd April 2013/12,345 Comments/by Tyrepress Editors

Michelin Q1 sales down 8.1%

Summing up its first quarter 2013 experience in a single sentence, Michelin states that in the three months to 31 March the “market environment was weak in Europe in passenger car and light truck tyres, disappointing in North America and expanding in the new markets.”

23rd April 2013/12,345 Comments/by Tyrepress Editors

Further CMA sites to join new warehouse

Groundbreaking on the new distribution centre to be erected by the US marketer of the Double Coin brand, China Manufacturers Alliance (CMA), will take place one week from today, the company reports. A ceremony to mark the occasion will be held at the site in Rancho Cucamonga, California on 25 April. The company also says it intends to build further warehouse facilities, both within the US and internationally.

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

Cooper breaks ground on Kunshan R&D centre

On 12 April, Cooper Kunshan Tire broke ground on its new Asia-Pacific Technology Center in China. The ground breaking ceremony was attended by Chuck Yurkovich, Cooper’s vice-president of Global Research and Development, Allen Tsaur (Cao Kechang), vice-president and general manager, Cooper Asia Operations, along with regional and government representatives.

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

European PCR, OE truck markets down in March

In its latest market trends update, Michelin reports that European on-road tyre markets were mostly down in March. Original equipment and replacement market passenger car tyre sales in Europe (including the Turkish and growing Russian markets) were respectively down 15 and 11 per cent year-on-year during March 2013. The year to date decline is 11 per cent for original equipment and nine per cent for the replacement market.

16th April 2013/12,345 Comments/by Tyrepress Editors

Reports: Continental 1Q may be worse than expected

In an interview with German Euro am Sonntag news source, Continental AG CFO Wolfgang Schaefer said he expected the company to report first quarter results "slightly worse" than anticipated. In March, the company said it estimates first-quarter sales to decline by between 1 and 3 per cent on the year, with roughly flat margin. However, during the interview Schaefer admitted missing the 1 to 3 per cent mark.

15th April 2013/12,345 Comments/by Tyrepress Editors

Two month delay for Zeon’s SSBR plant

Japan’s Zeon Chemicals says its new solution styrene-butadiene rubber plant in Singapore will now enter operation in September, two months behind its initial projected start-up date. The hold up has been attributed to the construction of a number of public service tunnels. Despite this delay, the company states the plant will run “flat-out” as of September.

15th April 2013/12,345 Comments/by Tyrepress Editors

Conti planning significant retail growth in China

During the course of 2012, Continental expanded its retail network in China by some two-thirds, and this year it looks to grow by a further 40 per cent. Beijing-based publication China Daily reports Jay Dhillon, general manager of Continental Tires China, as calling 2012 the company’s “most successful year” in terms of its retail operation. He shared that 1,000 new authorised franchised shops were added to Continental’s network, giving it a total of 2,500.

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

Riding a new course – Michelin unveils moto innovations

This year Michelin is releasing no less than six new motorcycle tyre lines: The Power Super Sport, Pilot Power 3, Anakee III and Anakee Wild, plus the Pilot Street and Pilot Street Radial. The last two of these are of particular interest due to the strategic approach they represent.

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