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Yokohama Releases English Version of its CSR Report 2010

The English language version of Yokohama Rubber’s “CSR Report 2010” is now available. This translation of the 32-page Japanese report released in September is downloadable in PDF form from the company’s “Environment & Social Activities” website at http://www.yrc-pressroom.jp/env_en/index.shtml. The report covers the period between April 2009 and March 2010 and details various aspects of Yokohama Rubber’s approach to corporate social responsibility.

16th November 2010/by Tyrepress Editors

Latest Sumitomo Financials See Company in Stronger Position

Sumitomo Rubber Industries’ financial results for the nine months to September 30 show a 19 per cent increase in net sales plus a return to the black. During the nine-month period the company took in net sales of 424,514 million yen (£3.2 billion), as opposed to 356,662 during the same period of 2009. Operating income amounted to 28,640 million yen (£215.2 million), 190 per cent more year-on-year. Ordinary income was for the nine months was 25,311 million yen (£190.2 million) and net income 14,036 million yen (£105.5 million).

15th November 2010/by Tyrepress Editors

Toyota Celebrates 20 Millionth Sale In Europe

Toyota recently celebrated the sale of its 20 millionth vehicle in Europe, just 10 years after recording its 10 millionth sale in the continent. The company's entry into the European market began in 1963, supplying 190 Crown models to a distributor in Denmark. Today, Toyota has nine production plants in Europe, building vehicles, engines and transmissions, as well as R&D, design and training centres. The company's investment in its European operations stands at 1.2 billion Euros and it employs around 3,000.

12th November 2010/by Tyrepress Editors

Raw Material Costs Prompt Apollo to Consider Further International Investments

Upon announcing Apollo Tyres Ltd’s results for the second quarter and first half of the current Indian financial year, company chairman Onkar S Kanwar commented “it’s been a very difficult six months managing the unprecedented rise in natural rubber prices.” This is perhaps an understatement; Kanwar noted the company’s natural rubber costs have risen 70 per cent in the last year and 150 per cent in the space of two years – a significant amount, considering the commodity accounts for 60 per cent of Apollo’s raw material costs. “This has affected all aspects of our operation.” Kanwar added. “I do hope the Government will look at some measure to check speculation, as well as bring down the unreal duty structure we have.”

11th November 2010/by Tyrepress Editors

Toyo Increases European Tyre Sales 12% in H1, 2010

Toyo Tire & Rubber reports a global 9.0 per cent increase in tyre sales volumes during the first half of the 2010 financial year, with European sales volumes surging 12.0 per cent. In total, the company produced 88,900 tonnes of tyres during this six-month period until September 30, 76,200 of this in Japan. Net sales within the half-year reached 143,431 million yen (£1.1 billion), 10.7 per cent above the corresponding six months of 2009. This improvement, Toyo notes, has occurred due to a recovery in demand. During the quarter between July 1 and September 30 Toyo reported net sales of 71,269 million yen (£546,4 million).

9th November 2010/by Tyrepress Editors

Titan 3Q Results “Better Than Expected”

Sales at Titan International amounted to US$222.8 million during the third quarter of the 2010 financial year, representing a year-on-year increase of 57 per cent. This improved result was accompanied by a gross profit of $27.9 million and a net income of $4.0 million. Year-to-date, the company’s sales have increased 12 per cent year-on-year to $648.9 million, while net income has reached $10.8 million.

8th November 2010/by Tyrepress Editors

Bridgestone Reports 12% Sales Increase

The first three quarters of the 2010 fiscal year have been described by Bridgestone as a period “plagued by rising raw materials and materials prices and the appreciating Japanese yen.” Despite these hurdles, the tyre maker reports achieving a 12 per cent increase in net sales and 838 per cent rise in operating income during this time, having reached figures of 2,091.2 billion yen (£15.9 billion) and 113.4 billion yen (£861.5 million) respectively. Ordinary income for the nine months was 100.8 billion yen (£765.7 million) and net income 66.7 billion yen (£506.7 million), compared with an ordinary loss of 9.2 billion yen and net loss of 27.4 billion yen for the corresponding period a year earlier.

8th November 2010/by Tyrepress Editors

Trading Places: How Tyre-Makers are Positioning Themselves in the World Economy

Editorial/Comment, International News

As Tyres & Accessories' November issue went to press President Barrack Obama and David Cameron were out banging the drum for American and British business in India and China respectively. 24 hours after Obama set foot in the subcontinent, the Sunday Telegraph's resident cartoonist was portraying the leaders of two of the richest countries in the western world as beggers seeking scraps from two so-called “emerging markets.”

8th November 2010/by Tyrepress Editors

US Yokohama Tyre Prices Rise

Yokohama has announced that it will raise its North American passenger and light truck tyre prices by 8 per cent on 1 December. The increasing raw materials, manufacturing and logistics costs are cited as the reasons behind the price hike.

25th October 2010/by Tyrepress Editors

Infinity Tyres Raises Record Sum for BEN at NTDA Dinner

The recent NTDA annual dinner held in Manchester saw Infinity Tyres donate two return air tickets from London to Dubai (home of the Al Dobowi Group– owners of the Infinity brand). The tickets were auctioned by Peter Gaster, former NTDA chairman and raised £1600 for the BEN charity, which is reportedly a record for the event.

18th October 2010/by Tyrepress Editors

Martin West to Head New Sailun Europe Operation

Career Tracks, Company News

Qingdao, China-based tyre manufacturer Sailun Co., Ltd., has appointed Martin West as managing director of its new Sailun Tyres (Europe) subsidiary. West previously held a number of senior roles with Goodyear, Lassa and most recently Infinity. Tyres & Accessories understands that the new European team, which will be based in the UK, currently consists of two people including the recent appointment of a back office manager that brings with him logistics experience at Goodyear Dunlop. According to a statement released by Sailun Europe, the recent moves follow the firm’s decision to begin “strategically focussing to further develop their presence in the European market.”

18th October 2010/by Tyrepress Editors

Bridgestone Sales Companies Gain ISO Certification

Bridgestone Europe’s group of 18 national sales companies has been accredited to the revised standard ISO 9001:2008 by Lloyd’s Register Quality Assurance. Announcing the accreditation, Bridgestone Europe’s senior vice president of Sales & Marketing, Takashi Tomioka, commented: “ISO 9001 is an important standard which we have held since 1992. Ensuring that our sales companies operate to these stringent requirements provides a systematic and visible way to lead and operate our sales organisations. This allows us to focus on meeting our customers’ expectations through consistent products and services”.

15th October 2010/by Tyrepress Editors

Pirelli Ups 2010 Targets

A review of preliminary financial data for the nine months ended September 30, 2010 has led the Pirelli & C. SpA Board of Directors to upwardly revise 2010 targets. The Board’s October 14 review of the preliminary data was made in view of the company’s new 2011-2013 three-year plan, and Pirelli says that the “positive performance of Pirelli Tyre in the first nine months of the year and the present market context permit a further upward revision of 2010 targets.” Targets had previously been raised when the first quarter and first half results were announced.

15th October 2010/by Tyrepress Editors

ETRMA Pushes EU for Closer Monitoring of Tyre Imports

At its October 5 board meeting in Brussels, the European Tyre and Rubber Manufacturers’ Association determined and conveyed to the European Union authorities that a greater monitoring of tyre imports is necessary in order to guarantee high quality tyres for EU consumers, increased road safety and lower environmental impact. ETRMA members, which represent Europe’s tyre producers, also reaffirmed their commitment to a “long-term strategic compliance campaign, stressing the importance of the quality and maintenance of tyres.”

6th October 2010/by Tyrepress Editors

Titan Announces Final Results of Tender Offer

Titan International reports that at the expiration time for its eight per cent senior unsecured notes offer on October 1, 99.2 per cent of the outstanding principal amount had been validly tendered – a sum totalling US$138,884,000. The company accepted and paid for $138,874,000 aggregate principal amount of its senior notes, as per a previously announced early settlement election, and subsequently accepted for purchase and paid for an additional $10,000 principal amount of senior notes that were tendered on or prior to the expiration time.

5th October 2010/by Tyrepress Editors