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Laugfs to Begin Industrial Tyre Production

Laugfs Holdings, the Sri Lanka based LPG company that has diversified into many areas of business, ranging from rubber products to restaurants, bottled water and apartments, is planning to invest Rs 350 million (£1.58 million) during the next three months at their tyre manufacturing facility in Millewa, in the country’s Western Province.

“We will start making solid tyres used for forklifts and other heavy machinery,” said Laugfs managing director Thilak de Silva. He added that the products are primarily destined for export to Australia and South Africa. “We have got orders from these countries, from companies which engage in mining.”

Prior to this latest investment Laugfs’ tyre manufacturing focused upon pneumatic tyres for three-wheeled vehicles and tyres for wheelbarrows. The company reports it is also in the process of developing a range for motorcycles and passenger cars under its ‘Palomino’ and ‘Stallion’ brand names.

20th August 2007/by Tyrepress Editors

Marangoni Opens Office in Shanghai

Italy’s Marangoni Group has highlighted its interest in the Chinese market with the opening of its Shanghai office, an initiative initially announced during the Citexpo exhibition in Shanghai at the end of 2005. For the Italian corporation a representative base in China is seen as just the first of a number of steps into the Chinese tyre market. Marangoni’s plans focus upon both the new tyre market and the retreading business, and include the installation of retreading plants and the production of Marangoni retreading materials in addition to a general boosting of Marangoni’s presence in the Chinese tyre market. Furthermore, the office will also be responsible for increasing Marangoni’s exports throughout the region. The new Maragoni office in Shanghai is run by Marcello Gambarini, who has more than 30 years of experience in the tyre business, and by Zhu Pei Fang, who the company reports is very well known in the Chinese tyre market.

20th August 2007/by Tyrepress Editors

Net Sales Up, Net Income Down at Toyo

Toyo Tire & Rubber has made public its consolidated business results for the first quarter of the 2007 fiscal year (April 1, 2007 to June 30, 2007). The company reports that, due to the strong performance of the tyre business in overseas markets, net sales rose by 8,895 million yen (£37.2 million) to 82,777 million yen (£345.7 million), a 12 per cent increase on the first quarter of the 2006 fiscal year. Operating income increased 22.2 per cent to 4,217 million yen (£17.6 million), ordinary income was up 54.3 per cent to 4,240 million yen (£17.7 million). Net income, however, decreased 55.3 per cent or 4,498 million yen (£18.8 million) to 3,632 million yen (£15.2 million).

Net sales within the company’s tyre segment increased by 8,608 million yen (£35.9 million) to 58,468 million yen (£244.2 million), an increase of 17.3 per cent. From this figure, OE tyre sales declined below last year’s first quarter level, a drop the company attributes to decreased production of car lines equipped with Toyo’s products. In the domestic Japanese market demand was slow, however Toyo’s “vigorous” efforts to boost sales resulted in sales equivalent to the levels of the same period of the previous year. Meanwhile, the volume of overseas sales, centring mainly on the North American market, comfortably surpassed the levels of the same period of the previous year. This increase, combined with the weaker yen, ensured higher net sales than for the previous period last year. Operating income increased by 27.9 per cent or 890 million yen (£3.7 million) over Q1 2006 to 4,075 million yen (£17.0 million).

13th August 2007/by Tyrepress Editors

Yokohama Q1 Results ‘Stronger than Expected’

Yokohama Rubber posted a 150.2 per cent increase in net income, to 3.1 billion yen (£12.8 million), in the three months ended June 30 (the first quarter of the present fiscal year) compared with the same period in 2006. The company’s operating income increased 130.6 per cent to 4.3 billion yen (£17.7 million) and net sales rose by 13.8 per cent to 121.6 billion yen (£502.3 million). The company reports that the overall rise in sales was led by growth in markets outside Japan and in Yokohama Rubber’s Multiple Business (diversified products) Group.

Operating income in Yokohama’s Tire Group tripled in the first quarter, to 3.1 billion yen (£12.8 million) on the back of a 15.9 per cent increase in sales to 90.7 billion yen (£374.7 million). Leading the sales growth were gains in North America, Europe, and Asian (excluding Japan) markets. The sales growth, coupled with the weakening of the yen and price increases for Yokohama tyres, more than offset the continuing upward trend in prices for natural rubber and other raw materials.

10th August 2007/by Tyrepress Editors

Hankook’s Explosive Growth

Company News, International News

With so much recent media coverage of Hankook’s European activities and new state of the art facility in Hungary, it is easy to forget that Europe is only one market in which the South Korean tyremaker has plans. And while those living in Europe will naturally pay more attention to activities taking place close to home, Hankook is by no means neglecting its Asian markets, and is in fact paying particular attention to China. Recently Tyres & Accessories was given the opportunity to interview Hankook global CEO Suh Seung Hwa and find out more about the company’s aims for the large and still growing Chinese tyre market.

“China is a vibrant market,” declared Mr. Suh when asked if Hankook’s recent activity in Europe signalled any shift in priorities. He added that the tyremaker expected a large increase in sales from its Chinese operations in 2007. Between 2002 and 2004 the Chinese tyre market experienced what Mr. Suh called “explosive growth,” and by 2006 the passenger car tyre market was still increasing by more than 15 per cent per year, the largest growth of any market the tyremaker participates in.

8th August 2007/by Arno

Its All in the e-Bit

Delticom AG’s full-year 2006 and first quarter results must have been music to the ears of investors who put money into the company during last October’s IPO at the Frankfurt stock exchange. The company reported group revenues totalling 173.1 million euros for the 2006 financial year, up 34 per cent year-on-year. It also proved that online businesses can really be profitable, reporting a 78.9 per cent year-on-year increase in pre-tax profits (EBIT) to 10.2 million euros. In fact the company’s e-Commerce segment was said to be its strongest driver. Here revenues grew 42.2 per cent to 155.2 million euros. Consolidated net income increased 90.9 per cent to 6.3 million euros from 3.3 million in 2005.

22nd June 2007/by Tyrepress Editors

More Dealers Undertaking RFT Training – Bridgestone

Bridgestone’s training programme educating tyre dealers and fitters about its RFT run-flat tyre technology has now seen more than 320 dealerships certified to replace run-flat. This marks a 25 per cent increase in the number of dealerships taking the free course compared with the same period last year.

7th March 2007/by Tyrepress Editors

New Winter Tyres from Nokian

Nokian Tyres has developed a number of new products for the fast growing European winter tyre market. These tyres have been produced with Central European driving conditions in mind and therefore their design and construction features place maximised safety especially in winter conditions as their number one priority.

New legislation and improving economic conditions in Eastern Europe have been two of the main factors behind the rise of the winter tyre market, a market in which about 67 million passenger car winter tyres were sold in 2006, some 12% more than the previous year.

7th February 2007/by Tyrepress Editors

Alcoa Introduces New Tyre Management System

Alcoa Wheel Products have introduced a new product providing fleet operators real time data on their vehicle’s tyre pressure and tread depth. Called the InTire™ Management System, Alcoa’s new offering is a web-based system the company reports can maximise tyre life, enhance fuel economy and increase productivity in maintenance procedures. The InTire software interfaces with the vehicle-based sensing equipment wirelessly.

Optional add on equipment allows users to monitor items requiring periodic maintenance, such as fluid levels and the condition of filters.

24th January 2007/by Tyrepress Editors

Kumho ECSTA KH11 OE on Chrysler Sebring

KUMHO’s ECSTA KH11 tyre has been chosen by the Chrysler Group to be original equipment on the 2007 Chrysler Sebring. The ultra-high performance tyre, in size 215/55R18, will be a top-of-the-line plus-size option on the Chrysler Sebring in international markets, the company reports. The vehicle will be available in the UK from June 2007.

30th November 2006/by Tyrepress Editors

Hankook Tyres Stolen

1400 tyres have been stolen from a container belonging to Hankook Tyre UK Ltd. The company reports that a container carrying 165/65R 14T K702 and 185/65R 14T K702 tyres was hijacked on the A45 en route to its Daventry headquarters late on the 15 November. Hankook Tyre UK Ltd has asked that anybody approached with the aforementioned products should contact them directly, if they are not from a reliable source.

16th November 2006/by Tyrepress Editors

Apollo Q2 Sales Grow 21 per cent

Apollo has published un-audited financial results showing second quarter sales of 7.67 billion rupees (£90.5 million), up 21 per cent year-on-year. Net profits grew 3.8 per cent to 193 million rupees (£2.28 million) despite global raw material increases. Sales improvement was reflected in the half-year results. Net sales were up 27 per cent to 15.246 billion rupees (£180 million). Operating profit grew 2.8 per cent in the six-month period to 1,167 billion rupees (£13.78 million).

12th October 2006/by Tyrepress Editors

OTR Tyres Install Europe’s Biggest Remould Press

Leading earthmover tyre specialist OTR Tyres Ltd, has just installed the largest bead to bead fully automated tubeless remould earthmover tyre press in Europe at their factory near Alfreton, Derbyshire. The company reports that the new equipment weighs in at over 75 tonnes and, following installation at OTR’s Somercoates headquarters, is ready to produce massive 2700 R49 tyres. OTR has been supplying, servicing and retreading EM tyres for more than 25 years, but the current shortage of earthmover tyres has seen the company invest over £750,000 on the latest equipment, much of it designed by OTR to suit customer demand.

25th September 2006/by Tyrepress Editors

C-Tyres Launches Run-Flats that Keep-on Going

Following Tyres & Accessories’ initial coverage of the news in June, C-Tyres has provided more information about its pioneering range of Colway run-flat retreads. The recent launch has further highlighted C-tyres’ position as a market leader within its industry segment, and shows the company’s commitment to product innovation.

The run-flats are said to have been manufactured “with the driver in mind” and are made using only “quality first-life casings,” company representatives report. This casing selection strategy is said to ensure the Colway run-flat is “up there with the very best,” but at a fraction of the cost of a new tyre.

12th July 2006/by Tyrepress Editors

TGI – ‘Got to be There’

Following the opening of a 600,000 square foot warehouse in Miami, Florida-based wholesaling operation Tire Group International (TGI) is setting its sights on greater international business. TGI has expanded 750 per cent since its foundation in 1992. In addition to its Miami, Florida and Leon, Mexico warehousing space, the company maintains warehousing capacity in Laredo Texas and Hamburg, Germany.

5th July 2006/by Tyrepress Editors