A groundbreaking ceremony to mark the start of expansion work on Yokohama’s tyre factory in the Philippines took place on May 23. The Clark Freeport Zone plant, located some 40 miles northwest of Manila, is being enlarged to around 460,000 square metres – about three times its current area – through a 50 billion yen (£376.6 million)) investment that by 2017 will boost annual capacity from seven to seventeen million tyres.
The UK features strongly in the Klarius Group’s plans for growing its European business, and the Leicester based manufacturer of exhaust systems, catalytic converters and other automotive components says this commitment to UK growth can be seen in the appointment of Richard Morley as UK sales director. Morley, who was previously with German owned automotive electrics company Hella, brings more than 21 years of automotive aftermarket experience with him into his new role, in which he assumes day-to-day responsibility for Klarius’ UK sales team. Key tasks that Morley will undertake include developing and implementing the company’s commercial strategy, identifying and prioritising new business opportunities, developing existing customers whilst bringing innovative new products to market in the UK.
Production at MRF Tyres’ seventh factory in India is expected to begin in the coming months. At the opening of a company sales and service outlet in the city of Kolkata, MRF deputy general manager Rajat K. Nangia commented that operations at the Rs 9 billion (£121 million) truck tyre and passenger car radial plant in Thiruchirapalli, Tamil Nadu state would commence before the end of the year. Nangia also reported on the tyre maker’s intention to raise US$110 million through the sale of ten year bonds; Nangia said the bond sale process is already underway and a portion of the funds raised will be utilised to increase capacity expansion in each of the company’s factories.
Gaither Tool is credited for introducing the first portable automatic bead booster, and Gaither Europe has now launched what it considers to be the next generation of modern bead booster – the Gaither Bead Bazooka. This latest model offers the considerable advantage of being lighter and more compact; Gaither reports the Bead Bazooka weighs just 5.5 kilograms – less than half that of the 12.5 kilogram Gaither GB5A. It is also 60 per cent smaller. Gaither believes these reduced dimensions are just one of the advantages the Bead Bazooka offers; it also sees customers being attracted by its pricing and its delivery of the “most powerful automatic rapid air release system” of any bead seating device on the market.
The Marangoni Group presented its forklift range at one of the world’s most important intralogistics exhibitions, CeMAT 2011, at the Hanover Exhibition Centre between 2 and 6 May. Following the recession in the industrial goods handling business in 2009, last year average monthly European production of forklift trucks again exceeded the 20,000 mark. This recovery in Europe has led German forklift truck manufacturers to present a new generation of technologically evolved forklifts, so as to satisfy current and future demands in terms of safety and energy savings. For Marangoni, already an OEM supplier to leading European brands, this has meant the development of a series of tyres that match the technology applied to these new vehicles.
Speaking to India’s Business Standard newspaper, JK Tyre & Industries vice-chairman and managing director Raghupati Singhania has shared that the tyre maker is looking at expanding its international presence by 15 to 20 per cent every year. Currently JK Tyre sells Rs 8 billion (£108.5 million) worth of goods outside of India, some 44 per cent of which is produced at international sites. These overseas facilities include the Tornel plant in Mexico, which the Indian manufacturer acquired in 2008, and partner factories in China, Vietnam and Sri Lanka.
A further US$200 million is being invested in Michelin North America’s factory in Lexington, South Carolina in order to accommodate growing regional demand for passenger tyres. Work on expanding capacity at the Lexington site will begin immediately and equipment for this latest project, which adds to the more than $1 billion invested in the site since its establishment in 1981, will be installed by the first half of 2013. Michelin North America reports that 270 new jobs will be created at the Lexington factory and phased in over the coming two years.
Results for the first three months of the current financial year show Pirelli & C. SpA revenues increasing 23.4 per cent year-on-year to 1,401 million euros and a 43.3 per cent growth in the company’s gross operating result (EBITDA) to 203.4 million euros. The operating result (EBIT) before restructuring charges was 146.5 million euros, compared with 90.2 million euros in the first quarter of 2010, while EBIT after restructuring charges was 143.3 million euros, a year-on-year increase of 63.6 per cent. EBIT margin increased from 7.7 per cent in the first quarter of 2010 to 10.2 per cent.
UK wheel alignment specialist Supertracker has announced the relocation of its headquarters from Sholing in Southampton to nearby Hedge End. The company said increased demand for its increasing product range was the main reason for the change of locations for its entire manufacturing, sales and administration operations. The new address is new and custom built, which will enable further expansion, according to managing director Trevor Lovesy: “Since our launch twenty three years ago, Supertracker has always maintained a policy of continuous improvement in both products and services through natural evolution and ongoing customer demands. Therefore moving to our new office and manufacturing complex – which gives us easier motorway access and interior layout possibilities – is the latest development in this process.”
On 14th April the new Hungarian Bandag franchise dealership, 5-Let Ltd., inaugurated its new retreading facility. Established with an investment of 2 million euros, the plant in the town of Mezőszilas began production on March 30 and is expected to produce 2,500 retreads this year; this number should double by 2013.
Evonik Industries has announced that it has signed an agreement with affiliates of Rhône Capital LLC to sell its carbon black business for over 900 million euros, including the assumption of certain obligations. For its part Evonik reports that it “continues to focus systematically on its core chemical businesses.” Carbon Black is being acquired intact as a whole, with its 1,650 employees, about 500 of whom are based in Germany.
The deal is subject to approval by Evonik’s supervisory board, antitrust authorities etc, but is expected to close during the summer of 2011.
Trelleborg tyres is exclusively equipping all the tractors and combines present at the European launch of the new Deutz-Fahr Agrotron TTV 410/420/430 between 4 and 8 April. Same Deutz-Fahr reportedly picked Trelleborg as its partner in the launch because of its specialist knowledge of the agricultural sector, its capacity to ensure highly professional technical assistance in the field, and for the premium quality and performance of its product and solutions.
Exports of minerals and agricultural products are significantly growing in Morocco due to free trade agreements the North African country operates with the European Union and United States. On top of this, Morocco is actively establishing additional infrastructure along the Mediterranean Sea coast in the hope of becoming a major hub for the distribution of goods in and out of North Africa. For this reason, Bridgestone Middle East & Africa FZE (BSMEA) sees Morocco as a key region in which rapid economic expansion can be anticipated and has established a new tyre sales company based in Casablanca. The name of the new company is Bridgestone Tire Sales Morocco SARLAU (BTSM). Through the company, which began operation on April 1, BSMEA intends to further strengthen its business in Morocco's “highly promising” market by “increasing its ability to offer high quality products and services to the region.”
Trelleborg Wheel Systems has announced a further price hike on agricultural, forestry tyres and wheels effective April 2011. The latest price increase of 9 per cent covers both the European and North American market places. “Booming raw material prices, especially for natural rubber,” were cited as the reasons for the price increase.
On March 25 Ceat Ltd informed the Bombay Stock Exchange that the commercial production of passenger car and truck radial tyres had begun that day at its new Halol factory in India’s Gujarat state. The plant, whose foundation stone was laid in January 2009, has been erected with an Rs 5 billion (£68 million) investment and is designed to have an annual output of 4 million tyres in its first phase of operation. Capacity should be increased to 12 million units over the coming decade through a second phase expansion project, which will be made with a further Rs 2 billion investment. Between 25 and 40 per cent of the plant’s output is slated for export, the company said in 2009.
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