Imports
US importer and distributor, Orteck International, is suing Shanghai-based Giti Tire (GT) for fraud. In a lawsuit filed in the federal district court in Greenbelt, Orteck claims the GT undertook a scheme to eliminate the company as the exclusive distributor of its tyres in the US.
Dunlop Tyres, Zimbabwe’s only tyre manufacturing firm could soon reopen following the intervention of Industry and International Trade Minister, Obert Mpofu. Dunlop shut down three weeks ago, sending 820 workers home after the Reserve Bank of Zimbabwe (RBZ) failed to pay the firm its foreign currency allocations under an exclusive agreement. The government is now expected to pump up to US$350,000 into Dunlop towards imports for raw materials. “It is envisaged that Dunlop will have a three-day working week until foreign currency inflows normalise,” newzimbabwe.com reported.
Dunlop Tyres (Pvt) Limited, Zimbabwe’s sole tyre manufacturing firm, has shut down with the loss of 820 jobs, leading to concerns about road safety in the country.
Officials at the tyre manufacturer and exporter said the firm had shut down its plant last week due to shortages of foreign currency, which has resulted in the company failing to procure raw materials, newzimbabwe.com has reported.
Traditionally Dutch wholesalers can be among the most important business contacts tyre dealers can have. Their reliable feel for trade business is almost expected in Europe, and company news is often news of expansion. This also applies to Tyre Trading International BV (TTI). The Dutch wholesaler based in Numansdorp (south of Rotterdam) is currently building a new on-site warehouse, which will eventually increase TTI’s capacity from 40,000 to 70,000 units. Talking to Tyres & Accessories, owner Peter van’t Hof and his son Dr Peter-Alexander van’t Hof explained the reasons for this expensive step.
The Chinese market seems to favour Malaysia’s natural rubber (NR) and is attracting increased interest from players in the Malaysian rubber products industry, according to the Malaysian Rubber Board (MRB). The MRB recently organised a trade delegation visit to China and revealed details about business between the two far eastern countries.
The MRB explained that Malaysian rubber was well-known in China for its good quality. China imports about 1.4 million tonnes of NR per year, and this year, Malaysia’s NR exports to China are projected to increase to 350,000 tonnes from 290,000 last year.
(Akron/Tire Review) It wasn’t too long ago that some in this industry were ready to declare the winter tyre dead. Popular in Europe and Canada, sales in the US had been, at best, flat for the previous couple of winters. A few suggested that advances in standard passenger and performance offerings were enough to cope with slush, snow and ice.
Bridgestone Australia has released its financial results for the first half of 2005. Turnover is down 2.6 per cent to A$ 262.3 million (1H 04 A$ 269.2 m) but profits after tax and expenses rose by 20.8 per cent to A$6.6 m (1H 04 A& 5.4 m).
Australia’s Ansell Ltd has slashed the value of its tyre-making joint venture with Goodyear Tire & Rubber Co by more than half, citing the impact of an influx of cheaper imports and rising raw material costs. In a move largely factored into analysts’ estimates, Ansell said it plans to write down the carrying value of its investment in South Pacific Tyres, or SPT, by $80 million Australian dollars to about A$58 million.
The decision to introduce a private brand was taken in light of the strategic advantages, says point S international AG. Point S believes that it can react more flexibly to the changing market conditions because of its adoption of the Summerstar and Winterstar tyres, which are produced in Europe and sold in all states represented by the cooperative. Heinz-Werner Knörnschild, chairman of point S international, told Tyres & Accessories what he sees as the benefits and requirements that come along with the introduction of a private brand.
(India/Rubber Asia) There has been a flurry of new car launches in the Indian market thanks to the apparent growth of Indian consumer purchasing power. General Motors, the world’s largest car maker for example, has even come out with a new strategy specific to the Indian market, the main component of which is to launch two new cars every year in the country between 2006 and 2008, local media sources report.
(India/Rubber Asia) There has been a flurry of new car launches in the Indian market thanks to the apparent growth in the Indian consumers purchasing power. General Motors, the world’s largest car maker, for example, has even come out with a new strategy specific to the Indian market, the main component of which to launch two new cars every year in the country, from 2006 to 2008, local media sources report.
Mr. Rajiv Chaba, president of GM India, has said it would be a “mix of local production/assembly for voulume cars and CBU imports in the case of some lifestyle products”.
(Akron/Tire Review) According to a report by Queensland Newspapers, Bridgestone Australia shareholders failed in a bid to oust members of the company’s board of directors at the firm’s annual meeting 9 May. Meanwhile, Bridgestone Australia chairman and CEO Makio Ohashi told shareholders that the financial situation wasn’t going to get better, warning of continued lower profits because of escalating raw materials costs and competition from imports.
(Akron/Tire Review) Wherever the market for new truck tyres decides it is headed, the retreading industry is hot on its heels.
Of course, that job is a bit easier for Bridgestone/Firestone, Goodyear and Michelin, because they are involved in both. But even their allocation of time and money must be measured carefully. For companies like Bandag Inc. and Oliver Rubber Co. – despite its connection with Cooper Tire & Rubber Co. – the task is a bit more daunting. But they, too, are highly skilled at knowing what to do and when.
It would be something of an understatement to say that high raw material costs, the weak dollar and unprecedented competition from the Far East is affecting UK alloy wheel manufacturing. But, in the cases of the selection of companies that Tyres & Accessories spoke to, it is more a question of ingenuity triumphing over adversity. So, in the face of such pressing circumstances, how are UK manufacturers holding firm? Work smarter, not necessarily harder, they say.
(India/Rubber Asia) Cheap imports from China and to a lesser extent from Thailand and South Korea, coupled with rising raw material costs are posing a serious challenge to the Indian tyre industry, Apollo Tyres chief operating officer Mr Neeraj Kanwar has said.
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