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Apollo Investing a Further £50 Million in Healthcare

The Apollo Tyres group has outlined plans to invest a further Rs 4,000 million (£49.78 million) in significantly expanding its recently established healthcare venture, Artemis Health Sciences. These funds would be used to establish five new hospitals in India – four secondary healthcare facilities each containing 150 beds, and a speciality hospital with 220 beds – and at present the company is looking at a number of prospective cities, including locations in Jaipur, Chandigarh, Ludhiana, Vadodara, Coimbatore and Bhubaneswar. These hospitals would be set up in the next three years.

Artemis has already invested Rs 2,000 million (£24.89 million) building a 260-bed hospital in the city of Gurgaon. This facility is expected to be operational by mid-June. Additional future investment will see the number of beds at the Guragon facility, which specialises in orthopaedic, cardiovascular and oncology treatment nearly double to 500 beds.

29th May 2007/by Tyrepress Editors

Apollo Invests to Ace the Tennis World

During a press conference on May 23 Apollo Tyres Ltd unveiled its long-term plans for increasing the profile of tennis as a sport and developing young Indian champions for the global arena. The Haryana based tyre major made a commitment to invest Rs 100 crore (US$24.64 million/£12.45 million) towards the development of Indian tennis over a ten-year period, one of the largest sports initiatives made by any Indian company. One of the stated aims of the project is to see an Indian player taking out the Grand Slam championship by 2018.

“Over the decades, tennis has always thrown up some great Indian talent, who on individual merit and hard work, have made India proud. However to succeed today, we need a lot more than talent. I believe, with world-class training, facilities and mentoring of young players, we could see an Indian winning a Grand Slam title in the near future. We will work towards making the sport more popular with today’s youngsters and realising this goal by the year 2018,” said Neeraj R S Kanwar, Apollo Tyres’ joint managing director & COO.

24th May 2007/by Tyrepress Editors

PCL – Sumo to Form Indian JV

Pneumatics Components Ltd (PCL) is preparing to enter into a joint venture in India. The UK-based manufacturer and supplier of tyre shop, automotive and other transportation products is teaming up with India’s Sumo Hi-Tech Marketing to form PCL-Sumo Air Technology Pvt Ltd, a company that is claimed to be India’s top tyre inflation and pneumatic products provider.

Headquartered in the city of Mumbai, PCL-Sumo will manufacture, sell and distribute a full range of tyre inflation and pneumatic products designed to meet the needs of the Indian market, including both mechanical and electronic tyre inflation products such an adapted Indian market version of PCL’s Accura forecourt inflator. Indian customers will also gain access to the full PCL range, including the Accura 1 electronic handheld inflator: the AirForce, PCL’s brand new generation of mechanical air line gauges: the Hi-Flo MK 3 Air Line Gauge, and the Accura 11, 12 and 13, suitable for tyre shop applications.

24th May 2007/by Tyrepress Editors

On a Roll

India’s third largest tyre manufacturer, JK Tyre & Industries Ltd (JK Tyre), has made no secret of its plans to increase domestic market share in key segments and to seek out new export markets, but bringing these goals to fruition requires the expansion of the company’s existing production capacities. Therefore JK Tyre has its eye on making an investment of somewhere between £60 million and £75 million in this area over the next three years.

President of JK Tyre, Mr. Arun K. Bajoria, recently spoke to the respected Indian daily publication Hindu Business Line regarding the steps his company was making towards realising its aims. “The expansion will be across the four existing facilities and the investments would be spread over the next three years,” he stated. “But in the next 12 months we would be first investing around Rs 120 crore (£15 million) for increasing the capacity by around 50 per cent in the off the road tyres segment used by the mining, cement, coal and earth-moving sectors.”

22nd May 2007/by Tyrepress Editors

Techking Tires Becomes 100th Exhibitor at Tyrexpo Asia’07

China’s Techking Tires has become the one hundredth exhibitor to sign up for September’s TyrexpoAsia exhibition in Singapore, breaking all records for the show as it approaches its 10th anniversary. The OTR specialist is one of more than 20 Chinese companies who have helped swell exhibitor numbers, which have also been supported by increased interest from India and host nation, Singapore.

Newera Equipment and its subsidiary, Kayel Rubber Products, is one Singaporean business that will be making a major statement of intent. Working with its supplier partners from around the world, Newera will be exhibiting on no-less than five stands.

The company is Asia’s largest supplier of tyre-related equipment and will be displaying the latest computerised buffing machine from Matteuzzi. It will also be showcasing the Double Envelope System from Italian supplier MAE and another highlight will be the advanced Shearography Non Destructive Testing technology from German company, Steinbichler.

21st May 2007/by Tyrepress Editors

Name Change for India’s JK

India’s third largest tyre manufacturer, J.K. Industries, have announced that their company name is to change to JK Tyre and Industries, with effect from May 23,2007.

18th May 2007/by Tyrepress Editors

Continental Automotive Systems Starts India Operations

Continental Automotive Systems has opened a liaison office near New Delhi and inaugurated a technical centre in Bangalore, India. Continental set-up the liaison office in Gurgaon, near the capital New Delhi, in 2006. Working from here the company aims to expand its business with Indian and international OEMs in India. According, to the company the Technical Center in Bangalore will be involved in development projects “for all the business units of Continental Automotive”

As an initial part of the concept, two independent engineering facilities have been established with local partners in Bangalore. About 60 engineers work in Bangalore for Continental Automotive Systems today. It is planned to reach a capacity of more than 200 engineers in 2008, so Continental will be hiring intensively in the next few months.

18th May 2007/by Tyrepress Editors

Indian Figures Show Production Up, Exports Down

Detailed figures showing tyre production and exports by Indian manufacturers have been released, covering the months of December 2006 and January this year. The figures are split into a number of categories – 12 in all – and the January figures show that, in eight of these, production rose compared with January last year. The total number of tyres produced during the month was 10 per cent up on January 2006.

Figure 1 shows the numbers of tyres produced in January, the percentage change over January 2006, plus the percentage change for the period from April to January (06-07) over April- January (05-06). This last figure gives a more accurate indication of trends, as a single month’s figures could be affected by such things as seasonal factors.

16th May 2007/by Tyrepress Editors

Wabco and TVS Group Agree to Brakes Business Demerger

Wabco, a leading provider of vehicle electronic systems to the global commercial vehicle industry, and India’s TVS Group, who amongst other things produce and distribute automotive components and hardware, have announced their intention of transferring the brakes business of their Indian joint venture Sundaram Clayton Ltd (SCL) to a new wholly-owned subsidiary, WABCO-TVS (INDIA) Ltd., (WABCO-TVS) through a demerger plan.

The demerger of the brakes activity will result in two separate corporate entities. The non-brakes business and investments will remain with SCL, who are based in the Indian city of Chennai. The demerger plan is conditional upon securing the approval of the relevant stock exchanges, shareholders, creditors and the Madras High Court.

15th May 2007/by Tyrepress Editors

JK Tyres Sales & Profit Up

For the quarter ending March 31, 2007 JK Tyre & Industries Ltd posted a net profit of £2.64 million as compared to £435,460 in the corresponding previous quarter. Net sales for the period increased 19.48 per cent to £91.35 million from £76.45 million a year earlier. The company’s net profit during the first half of the current fiscal year stood at £1.68 million, compared with £439,000 during the first six months of 2005-06. Net sales rose 17.13 per cent to £194.73 million from the previous year’s total of £165.26.

At present JK Tyre is the undisputed leader of India’s truck and bus radial market with a market share of close to 80 per cent. The company’s light truck and passenger car radial market segments, while not reaching these levels, are still a healthy 25 and 24 per cent respectively. JK Tyre also enjoys a market share approaching 23 per cent in the nylon truck tyre segment.

14th May 2007/by Tyrepress Editors

Thai Hua Rubber – Set to Tap the Boom

(India/Rubber Asia) Thai Hua Rubber (THR), a leading natural rubber supplier to tyre manufacturers, is making vigorous efforts to emerge as a top global player by tapping the enduring NR boom to its maximum. “Our idea is to emerge as a dominant global player covering the entire rubber business cycle as fast as we can and in the most credible manner,” says Mr Luckchai Kittipol, the company’s ever dynamic founder and CEO.

The latest plans include major marketing forays into China and India, the emerging power centres of global rubber industry and ambitious plantation initiatives in potential Asian countries. For instance, in Laos, the company will be investing US$50 million to develop NR plantations in 40,000 hectares during the current decade.

9th May 2007/by Tyrepress Editors

Turkish Industry Set for Take-Off

(India/Rubber Asia) Turkey’s rubber goods manufacturing industry is at a take-off stage thanks to the country’s economic liberalisation policy. The country has as many as 200 rubber goods manufacturing companies of which some are reputed exporters to Europe and the US. Mr. K Berat Oztimur, General Manager, Arsan Kaucuk, a market leader of rubberised pipe seals and bearings, spoke to Rubber Asia on the sidelines of the India Rubber Expo 2007. Selcuk Butun, Sales and Marketing Manager of the company, was also present.

Rubber goods manufacturing industry is flourishing in Turkey, especially after the economic liberalisation initiatives by the government. There are about 200 companies manufacturing rubber goods and at least 40 of them are of good repute. Construction industry is one of the largest consumers of rubber goods, mainly, pipe seals and bridge bearings. There are also a number of tyre companies in Turkey. The industry is, in fact, at a take-off stage and even small companies have started realising the importance of quality and are going in for the best technology.

9th May 2007/by Tyrepress Editors

Rubber Prices Bounce Higher as Demand puts Stretch on Reserves

Prices of export rubber from Vietnam are expected to increase on world markets by about 10 per cent throughout the remainder of 2007 as demand continues to outstrip supply. This analyst prediction added that shipments of Vietnam-sourced rubber to global top rubber importer China would experience price rises of 20 per cent, up from the current US$2,000 per ton to $2400. World market prices are tipped to reach $2,200 per ton.

The world produces about nine million tons of natural rubber each year, most of which is already accounted for, leaving a delicate balance between supply and demand. This balance looks in danger of being upset in the near future, as a recent rubber industry conference in Thailand predicted a jump in global demand by more than 6 per cent in the second half of 2007.

9th May 2007/by Tyrepress Editors

Hankook Passes the 100 Million Mark in China

In late March Hankook Tire celebrated a significant milestone – the 100 millionth tyre manufactured by the company in China came off the production line at Hankook’s Jiaxing facility in Zhejiang Province. This achievement is noteworthy not only in terms of Hankook’s presence in China, but it also serves as a reminder of the speed at which the country’s tyre industry has developed – China’s National Bureau of Statistics records the nation’s total tyre production in 2006 to be 433 million units, a 15 per cent year on year increase.

Speaking on this topic in early 2007, Cho Choong Hwan, vice chairman and former CEO of Hankook Tire, remarked that production from within the BRIC nations – Brazil, Russia, India and China – was growing at a faster rate than domestic demand, meaning that exports from these market were growing considerably, particularly from China.

9th May 2007/by Tyrepress Editors

ISSRP Appoints New Executive Committee in Delhi

(India/Rubber Asia) The 48th International Institute of Synthetic Rubber Producers Inc (IISRP) AGM held in New Delhi, India, recently discussed subjects including the new EU quality regime and the marketing scenarios in the galloping economies of China and India. The organisation also appointed new executive committee members that reflect the growing importance of the Russian market.

The newly elected president Vasily Nomokonov will also serve as the European section president of IISRP. Speaking to Rubber Asia on the sidelines of the AGM, Mr Nomokonov said he would like to see that the institute has a broader platform during his tenure. He would also like to see that Russia continues to play a vital role in the growth of global SR industry. The AGM ended with a mesmerising farewell luncheon hosted in a characteristic Russian red ambience and a hearty invitation from the new president to meet in Moscow for the 49th edition of the AGM.

9th May 2007/by Tyrepress Editors