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First Reifen China Attracts Over 5800 Visitors

The organisers of the first Reifen China exhibition have published visitor attendance and exhibitor numbers from the inaugural “Asian Essen Show.” Held in parallel with Tyres & Rubber Tech China, a total of 5812 visitors from 41 countries passed through the show between 14 and 16 November. Of these, 16 per cent were described as overseas visitors. 88 exhibitors from 13 nations took stands in Shanghai, with the vast majority (68 per cent) directly from the tyre, casing and tube business. 16 per cent of exhibits represented press, publishing and associations; while 4 per cent originated from the equipment and vulcanisation sectors.

8th January 2008/by Tyrepress Editors

Twice as much in half the time – Giti’s plan to penetrate European tyre market in five years

International News, Product News

Goodyear and Michelin penetration into Europe took a few decades, Bridgestone more than halved that, Hankook and Kumho did it in about 12 years, Giti Tire want to do it in five. The largest Chinese manufacturers are growing quickly, they have their sights set breaking into the US and Europe, and what’s more they plan to do it quicker than any company has before. Speaking to Tyres & Accessories, Dr Enki Tan predicted that Giti Tire will soon be known as the manufacturer to emerge from China. Giti is already a global scale operation, with 2007 sales totalling the best part of $2 billion. And while the fact that the group’s holding company is registered in Singapore means it can’t be officially be called a Chinese domiciled manufacturer, semantics can’t stop Giti from being the largest manufacturer of tyres in China.

The company’s biggest production base is in Hefei, Anhui province (not a long way from where Continental recently announced it will build a Greenfield site of its own). The manufacturing complex here employs around 6400 staff and covers some 1.11 million square metres – only 350,000 m2 of which is currently covered. At the end of 2007 production totalled 34,000 passenger/light truck, 6500 truck and bus, and 4000 bias tyres per day.

18th December 2007/by Tyrepress Editors

Giti Tire To Exhibit at CV Show

Giti Tire, the largest tyre manufacturer in China, has booked a “large” stand at next year’s Commercial Vehicle Show at Birmingham’s NEC. Company representatives told Tyres & Accessories that Giti Europe has invested a “significant amount” in publicising the company’s ever-increasing range of truck and bus tyres at the show. The stand has been designed to raise the profile of both Giti’s brands and product range and the position has been strategically selected near some well-known tyre manufacturer stands.

10th December 2007/by Tyrepress Editors

Reduced Subsidy to Cost Chinese Tyre Trade Tens of Millions

The Chinese government’s decision to slash tax rebates on tyre exports from 13 to 5 per cent will cost manufacturers tens of millions of dollars. In response Qingdao Yellow Sea Rubber Co Ltd reportedly said that the policy would have a negative impact on its performance and create roughly 10 million yuan (US$1.32 million) in additional costs. Giti Tire Corporation is also said to have noted the negative impact.

China eliminated or cut tax rebates for more than 2,800 export items from 1 July this year, in what China Daily described as: ”its boldest move yet to rein in exports since it joined the World Trade Organization in 2001.” The affected items account for 37 per cent of all export products, according to the Ministry of Finance.

8th August 2007/by Tyrepress Editors

Giti Tire Europe – Link Into Europe

Company News, International News, Product News

Since several years Chinese tyre manufacturers are active on the European tyre market. Although their commitment has been increasing over these years until today there has not been a tyre manufacturer from China that has founded its own representation in Europe which is for example different in the US. Giti Tire Europe B.V. is established in The Netherlands and does not only represent Giti Tire from China but also Gajah Tunggal from Indonesia which belongs to the same corporate group. In doing this, Giti Tire Europe acts as a link between wholesalers such as Romney International, Reifen Gundlach or Doumerc Pneus and the tyre manufacturers Giti Tire China and Gajah Tunggal. Secondly, it acts as an antenna into the European market that detects and collects information and forwards them to China and Indonesia. And thirdly, it is assigned to increase the general coverage of the European markets. Under the direction of well-experienced managers from throughout the continent Giti Tire Europe in particular looks towards the East where markets have an excellent chance to be developed and it also looks towards European OE customers.

7th August 2007/by Tyrepress Editors

Giti Tire Launches Truck Service Programme

Much has changed since Tyres & Accessories first met the then fledging Giti Tire Europe team at the 2006 Essen Show. Now, more than a year later, the staff count has doubled with the addition of some high profile executives; and sales are up 30 per cent year-on-year. When Tyres & Accessories met up with Giti Tire Europe’s UK, North & East Europe, and Russia sales director, Richard Lyons; and marketing manager Europe, Peter Foulkes, news of the Giti Assist truck service programme and the company’s new Heifei factory were top of the agenda. But these expansion plans are only the beginning, and the word is that an extensive new marketing programme is underway, with a rack full of new product releases scheduled for next year.

26th July 2007/by Tyrepress Editors

GITI Joins TRIB

(Akron/Tire Review) China’s GITI Tire (USA) Ltd. has joined TRIB – the Tire Retread & Repair Information Bureau.

“TRIB continues to grow as more and more companies in the new tyre and retread industries throughout the world realise that TRIB is the only international retread industry association representing new tire manufacturers, retreaders and tyre repair companies,” said Harvey Brodsky, TRIB’s managing director.

24th July 2007/by Tyrepress Editors

Giti Tire Breaks Ground on New Production Facility

Giti Tire has broken ground on a 10 million units-a-year tyre production facility, situated next to an existing Giti tyre production plant in Heifei, Anhui province China. The addition of the latest tyre manufacturing plant, brings the company’s total tyre production capacity to over 53 million units, confirming its position as China’s largest tyre manufacturer. The new plant will feature the latest technology and assist in achieving Giti’s ambitious goals in key markets like Europe, company representatives told Tyres & Accessories.

18th July 2007/by Tyrepress Editors

The End of Cheap Chinese Tyres?

On 1 July, the Chinese government reduced tax relief on tyre exports, causing those involved in importing or selling Chinese produced tyres in Europe to brace themselves price increase. At the same time, as one industry insider told Tyres & Accessories, market conditions are changing and “you are no longer doing Chinese companies a favour by selling their tyres.” So does this move mean the days of cheap Chinese tyres are numbered?

The Chinese government’s decision to cut its previously high tyre export subsidies from 13 per cent to 5 per cent; and to cut VAT refunds on wheels produced for export from 17 per cent to 9 per cent; is designed to address the Republic’s overwhelming export growth and is attempt to manage its trade surplus. Traditionally, export VAT refunds have kept export prices low for tyremakers and tyre and wheel component suppliers exporting out of China. Now, however, according to an Ernst & Young report released 20 June, “any change to a VAT refund rate will impact the prices charged on export goods as well as the profitability of exporters.”

16th July 2007/by Tyrepress Editors

Crash Prompts US Distributor to Recall Hangzhou Zhongce Tyres

A US tyre importer and distributor has asked the National Highway Traffic Safety Administration (NHTSA) for help in recalling almost half a million Hangzhou Zhongce Rubber Company produced light truck tyres and filed an $80 million claim, following a death and injury lawsuit. Hangzhou Zhongce disputed the claims. “Our tyres are qualified to be sold in the US,”’ Xu Youming, a manager in charge of legal affairs told Bloomberg, adding: “We’ve been exporting tyres for more than 10 years. We know what we are producing and selling.”

Foreign Tire Sales (FTS) appealed to NHTSA for aid in recalling an estimated 450,000 light truck tyres sold under the Westlake, Telluride, Compass and YKS brand names after the company allegedly learned that the manufacturer had left a critical component out of the tyre.

Affected tyres include some Westlake, Telluride, Compass and YKS-branded light truck products. Affected sizes include: LT235/75R-15, LT225/75R-16, LT235/85R-16, LT245/75R-16, LT265/75R-16, LT3X10.5-15.

26th June 2007/by Tyrepress Editors

Tyremaker Pitches In to Help Endangered Leatherbacks

(Akron/Tire Review) Giti Tire is one of 10 corporate sponsors of the upcoming Great Turtle Race, an international sea turtle conservation event that will take place from April 16 to 29. The event is designed to raise awareness and funds for the endangered leatherback turtle.

Other sponsors include Dreyer’s Ice Cream, Plantronics, Travelocity, West Marine and Yahoo!, which is hosting The Great Turtle Race online at www.GreatTurtleRace.com. The Great Turtle Race is organized by Conservation International, the Costa Rica Ministry of Environment and Energy, The Leatherback Trust and the Tagging of Pacific Predators (TOPP) program.

The sponsored turtles have been equipped with satellite tags and are “racing” toward feeding areas south of the Galapagos Islands after nesting at Playa Grande in Costa Rica’s Las Baulas National Park, the primary nesting area for leatherbacks in the Pacific.

10th April 2007/by Tyrepress Editors

GITI Tire Named GM 2006 Supplier of the Year

(Akron/Tire Review) Shanghai, China-based GITI Tire Group was presented with the General Motors 2006 Supplier of the Year award on Mar.ch31 at in Orlando, Florida.

The 15th annual award recognizes supplier performance in quality, service, technology and price. This year, GM honoured 89 suppliers for outstanding performance in 2006.

Vic DeIorio, executive vice president of GITI Tire, accepted the award on behalf of GITI Tire. “This recognition by GM is truly motivating for us and we want to express our sincere gratitude for honouring us with this outstanding award,” said DeIorio.

4th April 2007/by Tyrepress Editors

GITI Tire Relocates Headquarters, Consolidates Warehouses

(Akron/Tire Review) GITI Tire (USA) announced that it is relocating to a larger facility in Rancho Cucamonga, Calif. The 177,550-square foot facility will serve as GITI Tire’s home office and national distribution centre and will stock more than 180,000 passenger and truck tyres. Current offices and warehouses will be consolidated into the new facility by Feb. 23, according to the company.

22nd February 2007/by Tyrepress Editors

Giti Tire Joins IRSG

Giti Tire, a large-scale tyre manufacturer based in China and headquartered in Singapore, has joined the International Rubber Study Group (IRSG). Giti, with businesses in many parts of the world, is presently exporting its tyres to more than 80 countries. Lion Copolymer L.L.C., reputed to be one of the largest SBR producers in the US, has also joined the IRSG.

14th February 2007/by Tyrepress Editors

GITI Tire Issue Completed

Pricing of GITI Tire’s $200 million secured note concluded a day late on 19 January in Hong Kong. The bond will list in Singapore. Apart from helping its parent, the proceeds are expected to be used for capital expenditure, general corporate purposes and possible acquisition of other tyre businesses.

22nd January 2007/by Tyrepress Editors