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Pirelli Tyre Romania Reports 2006 Turnover of £12.7 million

Pirelli Tyre’s operations in Romania ended the 2006 year having recorded a turnover of 60.36 RON (£12.7 million) and losses of 18.49 million RON (£3.9 million). The division has a capital share of 77.16 million RON (£16.3 million). However, while on paper the company’s 2006 appears less than illustrious, late October saw the opening of a new tyre manufacturing facility near its existing steel cord plant in Slatina. The establishment of this new plant, which specialises in the manufacture of high performance tyres and employs about 450 people, required an investment of £115 million.

22nd May 2007/by Tyrepress Editors

NR Speculation a Concern in India

An association representing seven of the largest tyre manufacturers in India has expressed concerns that futures market speculation could lead to rising natural rubber prices in the domestic market, forcing manufacturers to become reliant upon imports – as was the situation in December 2006 and January 2007.

While the current domestic market price of rubber in India is Rs84 (£1.03) per kilogram compared with Rs93 (£1.14) a kilogram in the export market, last year tyremakers were forced to import rubber when domestic market prices shot up to Rs100 (£1.23) a kilogram. The director general of India’s Automotive Tyre Manufacturers’ Association, D. Ravindran, believes that speculation in the futures market and a resultant decision by rubber growers to hold back their crop in anticipation of higher prices led to this sizeable price increase. “The futures market, driven by speculation, had given wrong signals to the growers that prices would go up by more than Rs120 a kilogram. As a result of this, they held back their stock, creating an artificial shortage,” he stated.

8th May 2007/by Tyrepress Editors

BFNAT Promotes Two

(Akron/Tire Review) Bridgestone/Firestone North American Tire has made two appointments within its OTR and agricultural tyre groups. Shawn Rasey, previously executive director of North American sales, has been promoted to executive director of the group, and will now be responsible for all North American sales, customer service, marketing, administration and engineering activities.

Ken Allen, previously director of global OEM engineering and export sales for the Firestone Agricultural Tire Group, was promoted to executive director of sales and marketing for that unit.

2nd May 2007/by Tyrepress Editors

Goodyear South Africa to Supply OE for New Hummer

Right hand drive versions of GM’s Hummer H3, including those destined for the UK market, will be exclusively shod with products from the Goodyear stable. The right hand drive H3 is scheduled to enter production at GM’s Port Elizabeth, South Africa facility in mid-April, and all vehicles will be fitted with locally produced Goodyear Wrangler tyres. Production of left hand drive export models began last year.

The tyre fitted to the H3 is also currently manufactured by Goodyear North America for US built Hummers. According to Goodyear equipment national manager Norman Newcombe, Goodyear’s factory in Uitenhage, South Africa is one of only two facilities in the world manufacturing this particular tyre – the P256/R16 Wrangler RT/S. Mr. Newcombe added he was “thrilled” that the Uitenhage factory had been chosen to supply the H3.

“The decision is a vote of confidence in Goodyear SA‘s capabilities and facilities,” Newcombe said. He added that because production of this sort of tyre was new to the plant, significant investment had gone into production equipment and staff training.

13th April 2007/by Tyrepress Editors

Maxxis to Supply OE for New GM Thailand Models

Starting in May, Maxxis will supply original equipment tyres for two General Motors 2008 models manufactured in Thailand. Tyres produced at the Maxxis International-Thailand plant will be OE for the Korean GM Daewoo designed Chevrolet Captiva SUV and Optra passenger car, both built at the General Motors Thailand assembly centre in Rayong Province, about 120 km south of Bangkok.

For the Captiva, Maxxis will supply sizes 215/70R16 MA-707 and 235/60R17 MA-707, with 255/55R18 MA-S2 as an optional size. For the Optra, Maxxis will supply size 195/55R15 MA-P1.

The Maxxis tyremaking facility is also located in Rayong Province. The relatively new plant, completed only three years ago, produces passenger car and light truck tyres for both the domestic and export markets.

13th April 2007/by Tyrepress Editors

Danang Rubber Profits and Turnover Up

On April 3 Vietnam’s Danang Rubber Company released a statement announcing it anticipated a 14 per cent rise in net profit this year to 63 billion dong (US$4 million). According to company president Nguyen Quoc Tuan, revenues for the firm, which produces and retreads car, truck and OTR tyres in addition to producing bicycle and motorcycle tyres, expect their revenue to increase 15.5 per cent over last year’s figures, to 1.07 trillion dong ($680 million). These increases will result mainly from upgraded production capacity and strong export demand, especially for made-to-order tyres.

The company’s exports are expected to rise 13 per cent to $5 million, the statement added.

5th April 2007/by Tyrepress Editors

BFNT Raises Prices – Raw Material Costs to Blame

Bridgestone Firestone North American Tire (BFNT) has announced price increases on the company’s Bridgestone, Firestone, Fuzion and associate brand tyre ranges. The announced increases are generally up to 5 per cent on passenger and light truck, truck and bus, and agricultural and OTR tyres, although the company has not ruled out increased above 5 per cent for specific lines. The increases will affect replacement, OE and export tyres and will become effective as of May 1, 2007.

BFNT believe circumstances leave them with no option other than to implement these increases. “The continuing upward spiral of raw material costs makes this action necessary,” said Asahiko “Duke” Nishiyama, Vice Chairman and President of BFNT. “This unprecedented situation is simply not one that can be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. As a result, we have no choice but to implement this price increase.”

2nd April 2007/by Tyrepress Editors

Stamford Sport Wheels: Swift Growth in Asia

Stamford Sport Wheels (SSW) is gaining popularity as a provider of quality aluminium wheels courtesy of its TÜV certified manufacturing complex near the Thai capital Bangkok. A division of Stamford Tyres, SSW was established in 1995 and today produces more than 30,000 wheels each month, with 80 per cent of these destined for export markets.

SSW describe their facility in Thailand as ‘state-of-the-art’, and all equipment in use is fully automated and computerised, with each level of production closely monitored and controlled. All wheels are cast using the tilting gravity casting technique, complete with automatic robotic feeding which results in less air turbulence during the pouring process. This results in ensure stronger and more durable wheels with reduced porosity and fewer pinholes.

26th March 2007/by Tyrepress Editors

Chinese Tyre Production Reaches 283 million units

Data from Chinese National Bureau of Statistics reveals 2005 witnessed a sustainable and steady growth in the tyre industry. The data, quoted in a paper recently published by research and markets, reports that output reached 283 million units, up 18.7 per cent over 2004. Sales revenue totalled more than 80 billion yuan (£5.2 billion).

14th February 2007/by Tyrepress Editors

Strong Growth in China

Analysts have reported strong growth in both tyre production and exports in the Chinese market, with exports growing at a substantially faster rate than production. Quoting data obtained from the National Bureau of Statistics, analysts state that 2005 was a year of steady growth for China’s tyre industry, with output reaching 283 million units, an increase of 18.7 per cent over the previous year. This equates to sales revenue of more than RMB80 billion ( £5.25 billion ).

2nd February 2007/by Tyrepress Editors

Trucks Recalled to Prevent Tyre Loss

Mitsubishi Fuso Truck and Bus Corp is recalling at least 56,000 trucks again to repair components that were the cause of another big recall nearly three years ago, the company said. Mitsubishi Fuso, which is majority-owned by DaimlerChrysler AG, told the Japanese Transport Ministry that it would recall its ‘Super Great’ model trucks as their wheel hubs contained a flaw that could lead to the tyres falling off.

19th January 2007/by Tyrepress Editors

Vintage Releases Avon Classic Land Rover Tyres

In keeping with the company’s aims to reintroduce discontinued tyres for motoring enthusiasts, Vintage Tyre Supplies has announced that original equipment replacement Land Rover tyres are now available in 600-16C 6pr at £129.50 and 700-16C 6pr at £135.50 (plus VAT). The Avon Traction Mileage cross-ply tyre was developed for serious off-road work and features rugged shoulder buttresses for even traction.

9th January 2007/by Tyrepress Editors

Exec Director quits Balkrishna, Plans to Purchase Alliance

Former Balkrishna Industries Ltd executive director Yogeshkumar (Yogesh) Mahansaria and his brother Ashokkumar have reportedly quit the fast-growing Indian tyre producer, citing “family differences” as the reason. Yogesh has now teamed up with US equity firm Warburg Pincus to Acquire Israel’s Alliance Tire for US$45 million.

Alliance has been in negotiations with the two buyers, and the transaction is expected to be completed before June. The Alliance purchase forms part of a new venture that Yogesh Mahansaria has been quoted as saying he intends to float in the near future.

4th January 2007/by Tyrepress Editors

Falken Head Retires

(Akron/Tire Review) Falken Tire Corp. announced that Hideo Honda, chief executive officer and chairman, has retired as of Jan. 1. Honda will return to Japan where he will serve as an advisor to Sumitomo Rubber Industries for the remainder of the year.

Replacing Honda as CEO and chairman is Yasushi (Tank) Tanaka, a former director at SRI Tire Trading Ltd. in Tokyo. Tanaka joined SRI in 1976 and spent the majority of his career in the export and OE departments.

4th January 2007/by Tyrepress Editors

70 Years and 260 Franchisees: Pneuservice Group

Founded 70 years ago, the Pneuservice Group is one of the largest tyre import/export distributors in Italy. Pneuservice deals with everything from scooter to earthmover tyres, trading over 2 million tyres each year. The company currently has 150 employees, eight depots and over 260 franchisees spread out across Italy.

27th November 2006/by Tyrepress Editors