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Hankook CEO ‘Looking Forward’ to What Lies Ahead

Hankook Tire reports that effective cost management and initial signs of a reviving market have helped it recover from negative territory in the previous financial quarter to post sales of KRW 1.1346 trillion (£599.7 million) in the first quarter of 2009. This result, 13.8 per cent up on a year earlier, is supplemented by operating profits of KRT 35.3 billion (£18.6 million), despite the market remaining, in Hankook’s words, a “challenging” one.

During the first quarter exports from Korea rose 7.3 per cent year-on-year, with export demand showing a 19.9 per cent increase to North America and 8.9 per cent to Europe from a year earlier. The company also states that its Hungarian plant, the main production facility for the European market, has seen a “significant” 24.7 per cent growth in sales from the final quarter of 2008 and an 87.0 per cent increase from a year earlier.

5th May 2009/by Tyrepress Editors

Sales Up, Profit Down at JK Tyre in Q1 2009

JK Tyre has reported net sales of Rs 8.51 billion (£115.0 million) for the three-month period ending March 31, 2009. This figure represents a 254 per cent increase over the Rs 8.30 billion (£112.1 million) recorded in the corresponding period last year. Operating income in the first quarter of 2009 was Rs 8.54 billion (£115.4 million), an increase of 2.45 per cent. Net profit, at Rs 1.36 billion (£18.4 million), decreased 40.7 per cent year-on-year.

1st May 2009/by Tyrepress Editors

Belshina Boosting its Presence in Canada

Ukrainian tyre manufacturer Belshina is attempting to strengthen its position in the Canadian market. The Belarusian Telegraph Agency reports that Beltyre, Belshina’s export business, has opened an official representative office in Vancouver and from this base will work towards boosting sales through the promotion of tyres best suited to the market.

28th April 2009/by Tyrepress Editors

Double Coin Claims Doubled Mexico Share

CMA said that marketshare for its Double Coin brand in Mexico has more than doubled since the lines were re-introduced in the country in 2007. For 2008, Double Coin held a 1.5 per cent share in Mexico, up 100 per cent vs. 2007, CMA claimed.

“The partnership we fostered beginning in 2007 with Del-Nat Tire Corp. and Todo Neumáticos y Más (TNM) has created a seamless marketing effort for Double Coin in Mexico,” said CMA vice president Aaron Murphy. “It has allowed us to utilize a strong dealership network in all parts of Mexico as our solid foundation for sales and service on our products, as well as capitalise on the strengths that Del-Nat offers when managing export sales.” TNM is a buying group of 13 dealer/distributors throughout Mexico with its headquarters in Queretaro. (Tire Review/Akron)

18th March 2009/by Tyrepress Editors

Automechanika Middle East

Automechanika Middle East is the largest automotive aftermarket exhibition covering entire UAE, Gulf Countries, wider Middle East and Africa. Automechanika ME 2009 will be held from 31 May–2 June, 2009 at the Dubai International Convention & Exhibition Centre, UAE.

Some of the most lucrative export destinations can be reached through the ports of Dubai. Automechanika Middle East is the only platform for the Tyre related companies to target $1.1bn Tyre Industry.

For further information contact:

Jasmeet Bakshi
Show Manager
Automechanika Middle East
Epoc Messe Frankfurt GmbH
PO Box 26761
Dubai, UAE
Tel. +971 4 3380102
Fax. +971 4 3380041

13th March 2009/by Tyrepress Editors

American Truck Orders Reach Lowest Level in Six Years

FTR Associates’ preliminary data shows that Class 8 total net orders for all major North American OEMs fell to 6,167 units in February, the lowest order rate in over six years. The figure includes orders for the US, Canada, Mexico and for export. February orders, said FTR, declined 21 per cent from January levels and fell some 60 per cent against February 2008.

Eric Starks, president of FTR Associates, said, “we have been anticipating this slow-down in order activity for some time now and expect orders to drop to 5,000 units or below over the next several months.” (Tire Review/Akron)

4th March 2009/by Tyrepress Editors

Vee Rubber Catering to Export Markets

In terms of the variety of tyre types produced, Vee Rubber Group is the leading company in Thailand – the company manufacturers a range that covers numerous applications, from go-kart to large commercial vehicle tyres. Most of the company’s production output – which in 2008 amounted to 24 million units – is destined for export, and Vee Rubber designs and manufactures tyres that are suited to their target markets.

Recently Vee Rubber introduced company’s first light truck and 4×4 tyre developed specifically for the North American market – the Taiga H/T. the new tyre was extensively tested in a number of different climates and on many different surfaces, including off road and the result, the company says, is a quiet, comfortable tyre with a long tread life; in the US, the tyre is offered with a 50,000 mile limited tread wear warranty. While the Taiga is not designed as a snow or all terrain tyre, it aims to allow drivers to face everyday driving with confidence, whatever the conditions.

10th February 2009/by Tyrepress Editors

New Face Sonny Presenting a Full Range

Sonny Tyres, based in Zhaoqing, China, develops and manufactures passenger car (summer, winter and performance), 4×4 and light truck radials for both the domestic and export markets. Although a relative newcomer on the scene – the company was only established in 2007 – Sonny Tyre plans to achieve a production capacity of three million units by 2009. When work is finished on its 800,000 square metre RMB 2 billion (£205 million) facility in 2013, the company anticipates a capacity of eight million. At present work is underway on the development of a number of new tyre sizes and product lines, and the company’s domestic and overseas sales networks are being expanded.

4th February 2009/by Tyrepress Editors

Kenda Supplying Iran’s Largest Carmaker

Kenda has reported the commencement of an OE agreement with Iran’s largest car producer, the Saipa group. Since November 2008, the Taiwanese manufacturer’s tyres have been fitted as original equipment on Kia Pride models built by Saipa under licence. The vehicle, fitted with Kenda’s KR23-Komet Plus tyre in size 165/65R13, is sold in a number of export markets, including Azerbaijan, Armenia, Algeria, Egypt, Jordan, Libya, Lebanon, Syria, Sudan, Turkey, Turkmenistan, Morocco, Kyrgyzstan, Venezuela, Yemen, Uzbekistan.

3rd February 2009/by Tyrepress Editors

Good Friend Tyre Signs US Trade Contract

Chinese tyre manufacturer Good Friend Tyre has allegedly signed a trade contract with an unnamed US based company. The deal, reported by ChinaRealNews, is said to be worth around US$100 million.

Good Friend Tyre mainly manufacturers radial truck tyres, and in 2008 exported $30 million worth of products. These tyres are manufactured at the company’s Henan Province facility, which is said to have an annual capacity of 1.2 million pieces. Work on the facility commenced in 2005 and some RMB 560 million has been invested in the project. According to Good Friend Tyre, all products manufactured there are DOT, ECE and ISO9001 2001 certified, and current export markets include Europe, the US and Southeast Asia.

3rd February 2009/by Tyrepress Editors

Lockout Declared at Factory Outsourced to Apollo Tyres

Apollo Tyres gave word on December 6 that a plant owned by PTL Enterprises that produces tyres exclusively for Apollo entered a lockout situation as of 2am December 6. Tension between workers and employers at the Kalamassery based factory, in India’s Kerala state, has been uneasy for some time. According to Apollo, for the past few months “workmen have been resisting management efforts to increase efficiency and bring down costs, during these times of economic stress and demand slowdown.”

8th December 2008/by Tyrepress Editors

Ceat breaks ground on radial plant in India

Ceat Ltd. has broken ground on a £95 million radial tyre factory in the Indian state of Gujarat. The new factory is expected to eventually produce up to 500 tonnes of passenger, light and medium truck tyres a day, with as much as 40 per cent of production earmarked for export. According to Ceat, the factory will be constructed in three phases, with the first of these entering production in June 2010. Daily capacity at this time will be in the area of 100 to 150 tonnes.

8th December 2008/by Tyrepress Editors

B.F. SRL Expanding Into New Export Markets

In the area of wheel balancing weights, B.F. srl believes it stands out in terms of its enterprise in researching new weights and solutions to meet all market requirements. The ISO 9001:2000 certified company reports it has made a number of important decisions in recent years, including the creation of a technical department for internal projection, which is capable of designing and manufacturing balancing weight production machinery, along with moulds and all relevant spare components.

4th December 2008/by Tyrepress Editors

Analysis of Indian Tyre Industry Published

The Indian tyre industry is around eighty years old, but over the past decade has seen significant growth and has played a major role in the growth of the Indian automotive industry. The total value of industry sales in 2006 and 2007 was Rs 190 billion (£2.49 billion) and its export value was Rs 26 billion (£341.18 million).

To give industry participants and observers a greater insight into the Indian tyre market, Icfai Books, a division of Icfai University in Hyderabad, India, has published a reference book titled “Tyre Industry in India – Issues and Outlooks”. This publication contains information on numerous issues including the evolution and growth of the Indian tyre industry, directional trends, SWOT analysis and the industry’s competitiveness. Separate chapters are dedicated to all the major Indian based manufacturers.

1st December 2008/by Tyrepress Editors

Trax JH Appoints International Development Chief

Career Tracks, Product News, UK News

Trax JH Ltd has announced the appointment of Martin Blakey in the new role of international business development manager. Blakey’s appointment has been made in support of the company’s growth and export market development ambitions, which aim to propel Trax into a leading position in the field of European manufacturers of balance weights.

1st December 2008/by Tyrepress Editors