imports Archives - Page 24 of 33

Titan Voices Support for US Investigation

Titan International has released a statement outlining its support of the US Department of Commerce’s antidumping and subsidised duty investigations against OTR tyres imported from China – investigations the company claims were initiated in response to petitions it filed jointly with the United Steelworkers union in June.

“Today’s (August 2) decision to investigate unfair trade practices in China is an important first step in the right direction,” said Titan chairman and CEO Maurice M. Taylor. “Dumping and government subsidies have given Chinese tyre producers an unfair advantage in our market, and it is the US industry and American workers who have suffered as a result.

“Titan is committed to ensuring that trade is fair,” added Taylor. “If these investigations confirm that unfair subsidies and dumping have been occurring, it could result in the imposition of duties on tyre imports from China to offset the harm that such practices cause in our market. By enforcing US trade laws, we can make sure that everyone plays by the same rules and start to level the playing field for the US tyre industry and its workers.”

3rd August 2007/by Tyrepress Editors

Sameer Half-Year Profits Up 54%

Product News

Sameer Africa recorded a 54 per cent increase in pre-tax profit to Sh113.8 million (£836,000) during the first six months of 2006. These results are very good news for the Kenyan tyremaker, who in March reported losses amounting to £164,000 as a result of low price imported tyres.

Sameer’s sales rose 14 per cent from Sh1.6 billion (£11.8 million) in June 2006 to Sh1.7 billion (£12.5 million) in June 2007. The company reported in a statement that this growth came via a 6 per cent boost in the sales of Yana brand tyres. However, despite the positive results the company’s board has not recommended payment of an interim dividend.

1st August 2007/by Tyrepress Editors

Apollo Reports Strong Q1 Financials

Product News

On July 25 the board of directors at Apollo Tyres reported the company’s unaudited results for the first quarter of the 2007-08 financial year, and also named August 27 as the date in which Rs 10 equity shares will be split into ten equity shares valued at Rs 1 each.

First quarter (April to June) net sales closed at Rs 11.5 billion (£138.6 million), an increase of 22 per cent on the previous year’s Rs 9.4 billion (£113.3 million). Net profit was recorded as Rs 546.4 million (£6.6 million), an impressive 369 per cent jump on the Rs 116.5 million (£1.4 million) obtained during the first quarter of 2006-07. Apollo attributes this significant profit growth to stabilising prices in major raw materials such as natural rubber, crude and steel, plus an improvement in key operating efficiencies, including wage cost, interest and depreciation.

The tyremaker further reported that all major product categories experienced substantial growth both in India and South Africa. The highest growth areas were 35 per cent for truck and bus radials in South Africa and 23 per cent for car radials in India.

26th July 2007/by Tyrepress Editors

Chinese Govt Defends tyre Quality

Product News

In response to legal action initiated by US tyre importer Foreign Tire Sales, China’s official quality control organisation, the General Administration of Quality Supervision, Inspection and Quarantine, has spoken in defence of Hangzhou Zhongce Rubber.

“There should no worries about tyres made in China,” commented Wang Xin, a senior official with the government body. He further added that the tyres were “qualified to be sold in the US.” Xin’s comments are in line with those expressed by Hangzhou Zhongce, who state that their own inspections have not found any of the faults reported by Foreign Tire Sales, and that none of the company’s other US customers have expressed concerns about the reliability of the tyres they purchased.

The controversy surrounding the Foreign Tire Sales case has sparked a wider debate on Chinese imports into the US, with some calling for tighter restrictions on what is allowed into the country.

18th July 2007/by Tyrepress Editors

Goodyear Jamaica to Rebuild With Investment

Product News

In 2006 Goodyear Jamaica Ltd’s profits nose-dived more than 65 per cent, which was followed by a fire in January which meant its distribution network took a hit. However, at the beginning of July Goodyear Jamaica’s management announced plans to double its sales. In its first quarter to March, Goodyear posted losses of $3.8 million, saying the warehouse fire had consumed its profits.

“Inventory is almost 95 per cent back to its original level, and we have a full complement of staff to help regain the dominant position in the market,” Financial Controller Andrew Peart told local news sources, adding: “We will be selling the features and benefits of the product to consumers as we don’t think that the product is well differentiated in their minds.”

Jamaica had a tyre market of 1,008,116 – all imports – valued at just under $2 billion in 2004, according to the most recent data from the Statistical Institute of Jamaica.

9th July 2007/by Tyrepress Editors

Hangzhou Tyres OE in India

Product News

Tyres produced by Hanzhou Zhongce, the Chinese manufacturer at the centre of a half a million-unit recall in the US, are supplied OE clients such as Tata Motors in India. “Tata Motors is satisfied with the quality of tyres from China, and has not faced any issues,” a Tata Motors was quoted as saying. The tyres involved in the US were radials, while Tata Motors imports only bias tyres, one Indian news source reported.

Indian tyre manufacturers told dnaindia.com that while Hangzhou Zhongce Rubber has the technology to manufacture quality products – it contract manufacturers for other global brands like Goodyear and Cooper – many smaller Chinese companies dump substandard products in the Indian aftermarket.

“It’s a little scary, given our lack of safety regulations or data on fatality rates due to tyre failure. Chinese imports between April and December 2006 were over 500,000 units compared to 300,000 in the entire 2005-06,” said a senior official of a local tyre manufacturer.

9th July 2007/by Tyrepress Editors

Ceat Seeks TBR Consultant

Product News

Ceat Ltd is seeking a foreign consultant to provide assistance in developing TBR technology. The company is in discussions with consultants in the US and Europe and, according to vice-president of Sales and Marketing Arnab Banerjee, they most likely will sign an agreement with one of them within the next two or three months.

However he added that this does not mean the Indian tyremaker’s earlier plans to tie up with leading international tyre majors for technical know how have been shelved. Ceat has been talking with a number of companies, including Pirelli, and will continue to do so. “We decided to work on the technology on our own in parallel so that we did not waste time in order to enter the market with our product range,” Banerjee explained.

The chosen consultant will work with Ceat’s research and development department on new TBR projects, including the establishment of a greenfield facility for TBR production. A number of potential sites have been shortlisted for this new factory, which will be ready to begin production in between two and two and a half years. The facility is projected to cost between £60 and £70 million.

9th July 2007/by Tyrepress Editors

Higher Anti-Dumping Duties Recommended in India

Product News

An Indian government panel has recommended increasing the anti-dumping duty imposed on truck tyres from US$99 to $135. Originally implemented last October, the duty is intended to curb the large numbers of low-priced Chinese imports flooding into India. At present tyre imports from China are running at 68,000 units a month, a five-fold increase in the levels recorded three years ago.

The difference in price between Indian tyres and their Chinese equivalents is approximately 25 to 35 per cent despite the Chinese government’s removal of its 5 per cent tyre export subsidy and increased freight charges for exports to India. Such a gulf in prices means, according to MRF executive director of marketing Philip Eapen, that the increase in duty will make little difference apart from making Chinese imports a “little more unattractive.”

5th July 2007/by Tyrepress Editors

US Companies Asked to Provide Details of Recalled Tyres

Premium, Product News

As a follow up measure to the US recall of tyres made by the Hangzhou Zhongce Rubber Co., the NHTSA has asked 14 manufacturers and importers, including the Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co., for information about imports received from the Chinese tyremaker. This action has been made necessary by the disclosure that companies other than Foreign Tire Sales may potentially have sold tyres manufactured to the same standard as those currently subject to recall.

In a letter sent to the NHTSA on July 2 Foreign Tire Sales stated: “Though FTS is not in possession of the information as to how many tyres others may have imported or sold in the United States, FTS understands that numerous tyres may have been imported by these other dealers using the same date codes and model numbers as FTS.”

Cooper Tire held an offtake agreement for the supply of truck tyres with Hangzhou Zhongce, and is thus likely to inform the NHTSA that it did not import light commercial vehicle tyres from the Chinese manufacturer. Goodyear, who reportedly entered into an agreement with the manufacturer in 2006, has not commented regarding their communication with the NHTSA.

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4th July 2007/by Tyrepress Editors

Small but Meaningful

Product News

R H Claydon marketing manager Dick Anderson has been in the business for a good many a year, and although semi-retried these days he has seen a lot of changes in the tyre industry, including the growth of the ATV market from next to nothing into the important and still growing sector it is today. Recently he spoke to Tyres & Accessories about the current UK ATV market in 2007 and R H Claydon’s role in it.

“I see the ATV market as being divided into three sectors,” he stated. The first of these, and by far the largest, is the utility/working market. This covers everything from farm and forestry applications right through to police. Near our head office in Suffolk some of the police are equipped with ATVs, complete with blue light on top!” The thin blue line reportedly find these vehicles invaluable for accessing remote places such as national parks and beaches.

3rd July 2007/by Tyrepress Editors

Hangzhou Zhongce: US Tyre Recall is ‘Commercial Manipulation’

Product News

Hangzhou Zhongce Rubber Company has countered claims that some of its tyres are defective and suggested that a NHSTA recall report filed by US company, Foreign Tire Sales Inc (FTS) amounts to “commercial manipulation and sensationalization.” In an official statement, Hangzhou Zhongce contested FTS’ $80 million legal claim, saying it: “retains recourse rights against FTS for the loss [it]…has sustained.”

In the statement, Hangzhou Zhongce explains that it has adopted “strict quality control and test procedures” and strives make sure products are manufactured “in accordance with the relevant requirements.” All the tyres in question have passed United States National Standards. “So far we have not detected any defective problem. We believe our product has no quality problem,” the company continued.

In order to further its defence, Hangzhou Zhongce has hired China Beijing Guantao Law Firm and Hogan Hartson LLP, a US law firm. Hangzhou Zhongce says this is to represent the company in its disputes with FTS and to handle what it characterises as a “reporting issue” filed by FTS to NHTSA.

27th June 2007/by Tyrepress Editors

USW/Titan Chinese Manufacturers of ‘Dumping’ OTR Tyres

News

The United Steelworkers (USW) has joined Titan Tire Corp. as a co-petitioner in a trade case petition filed yesterday with the U.S. Department of Commerce and the U.S. International Trade Commission, accusing Chinese companies of dumping and subsidizing OTR tyres. The USW and Titan Tire seek to have the government impose duties to off-set these allegedly unfair Chinese imports. According to the petition, Chinese imports have increased from 11.2 million tyres worth $166.35 million in 2004 to nearly 15 million tyres worth $374.25 million in 2006. China is the single largest source of imports of OTR tyres, accounting for more than 83 percent of total imports by volume in 2006, the statement added

Chinese imports are significantly underselling U.S. produced OTR tyres. Based on a comparison of Chinese and U.S. prices in the petition, the differential averaged 29 per cent. A second comparison shows underselling margins ranging from two to 30 per cent.

20th June 2007/by Tyrepress Editors

Interview – Roy Armes

Product News

(Akron/Tire Review) Roy V. Armes was named president and CEO of Cooper Tire & Rubber Co. last December, following the August resignation of Tom Dattilo. A 31-year veteran of Whirlpool Corp., Armes held several senior-level posts in various departments at the appliance manufacturer, including engineering, project management and purchasing. He also had positions in Mexico and China and was responsible for establishing overseas manufacturing operations and joint ventures.

Most notably, Armes oversaw the integration of Maytag into the Whirlpool fold and, over the years, gained a strong background in manufacturing and technology, engineering, international business, consumer products and distribution channel management.

19th June 2007/by Tyrepress Editors

Ceat Undeterred by Lack of TBR JV Partner

Product News

Indian tyremaker Ceat is considering going it alone in the establishment of a truck and bus radial facility if it is unable to find a joint venture partner. The company has set aside approximately £60 million for the project but to date has not made any commitment to work with another manufacturer.

Speaking to India’s Financial Express newspaper, Ceat’s president of sales and marketing, Arnab Banerjee, said, “We are in talks with some of the leading radial technology providers in the global arena. But we are yet to reach a consensus with any of them. If the joint venture option doesn’t work out, we will definitely explore the possibility of doing it ourselves.” He added that Ceat “have the skills and the know-how,” to establish a truck and bus radial facility without external assistance.

19th June 2007/by Tyrepress Editors

Many Happy Returns

Product News

This year the Carlisle Tire and Wheel Company will reach the ripe old age of 90, but the company is showing itself to be remarkably sprightly for a nonagenarian. Founded in September 1917 in the small town of Carlisle, Pennsylvania, the Carlisle Tire and Rubber Company, as it was then known, began life in an age when most people’s idea of an all-terrain vehicle was a donkey or a mule, and the tractors that were beginning to make their presence felt in the countryside ran on wide metal tyres. The idea of the quad bikes and ATVs, so much a part of the modern company’s product portfolio, still lay 50 years in the future.

The first products produced by the fledgling company were inner tubes, and before long the company had 30 employees producing car tyre inner tubes. Following tough times during the Great Depression and rubber shortages during and immediately after the Second World War, the company was re-formed as the Carlisle Corporation. The following year Carlisle produced their first tyres, initially specialising upon the bicycle market. In 1960 Carlisle produced its first industrial tyre, and eight years later the company entered the motorcycle tyre and tube market.

19th June 2007/by Tyrepress Editors

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