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A Family Affair

The next generation of the Poddar family, who control the £175 million Siyaram group, is getting ready to take the baton from their elders. Rajeev Poddar has recently joined his father Arvind at the group’s flagship company, Balkrishna Industries, which manufactures OTR and agricultural tyres in India under the BKT brand name. Avnish and Gaurav Poddar have also joined the family controlled business, this time taking on roles at Siyaram Silk Mills, the group’s textile business.

The Poddar family recently undertook a management restructuring of the Siyaram group’s subsidiary companies, confirming management of Balkrishna Industries by Vinod and Arvind Poddar, sons of the late Mahavirprasad Poddar. The other branch of the Poddar family, the sons of Dharaprasad Poddar, remain in charge of the company’s textile business. However both families continue to hold equal stakes in each of the group’s companies.

Last year the Poddars sold a 7.43 per cent stake in Balkrishna Industries to private equity firms Evercore and Chryscapital in order to fund the company’s future expansion plans.

20th March 2007/by Tyrepress Editors

Dunlop India Approved for Stock Market Trading

Dunlop India Ltd shares are ready to trade on India’s stock exchanges again more than four years after being de-listed following the non-payment of listing fees. India’s Board for Industrial and Financial Reconstruction (BIFR) has asked stock exchanges throughout the country to lift any remaining suspensions imposed on the tyremaker.

According to a statement released by Dunlop India, the March 16 order given by the BIFR directed the stock exchanges in Mumbai, Kolkata, Ahmedabad, Chennai and Delhi to lift suspension and also directed both India’s National Securities Depository (NSDL) and Central Depository Services (CSDL) to issue identification numbers for demat of the shares.

The statement also gave news that the BIFR order permitted the company to issue 27 million new shares valued at Rs 10 each (£0.012) by April 15, 2007 and increase the authorised capital from the current level of £8.17 million up to £8.76 million. The tyremaker’s current paid up capital is £5.25 million but after the proposed rights offer this will increase to £8.4 million.

19th March 2007/by Tyrepress Editors

Federal Tyres Looks to Middle East Markets

Taiwanese tyremaker Federal Tyres has entered into an agreement with Dubai-based tyre distributor Al Saeedi Middle East to import tyres into the United Arab Emirates, a market into which more than six million tyres are imported each year.

Federal Corporation president Chen Da stated that not only have the levels of imports entering the UAE been growing annually, but the country is also an important re-export hub for global tyre manufacturers. “So we believe it is time to strengthen our presence in the UAE as well as in other GCC (Gulf Cooperation Council) countries in association with a strong local partner. In Al Saeedi Middle East, which has more than two decades of excellent track-record in the UAE tyre business, we have found a strategic partner.”

19th March 2007/by Tyrepress Editors

Ceat to Build Third Indian Facility

India’s Ceat Tyres is investing approximately £70 million to £80 million in the establishment of the company’s third domestic Greenfield plant. The decision to build such a facility has been prompted by the global demand for commercial vehicle tyres, which the company intends to produce at the new site. Passenger car radials will also be produced at the facility. The Ceat group is presently looking for a suitable site in the states of Maharashtra, Gujarat or the excise-free zones of Uttarakhand. The new capacity will boost the company’s current overall capacity by 100 tonnes per day to 400 tonnes per day.

15th March 2007/by Tyrepress Editors

Hayes Lemmerz Subsidiary Expanding in India

Hayes Lemmerz International, Inc. has strengthened its market position in India and bolstered export capabilities following the completion of expansion work on its Indian subsidiary’s steel wheel production facility. The Kalyani Lemmerz Limited factory is located in the city of Pune, approximately 100 miles from Mumbai, and following recent expansion work it possesses an annual capacity of 800,000 units. Kalyani Lemmerz intends to add a further 200,000 units of capacity during 2007 through an additional US$10 million investment.

14th March 2007/by Tyrepress Editors

Hankook Aiming for 100,000,000 Tyres a Year

With Hankook’s 105,000 square metre production facility in Hungary complete and ready to commence production, the Korean tyremaker is already looking ahead to the day when its global production will reach 100 million tyres a year.

8th March 2007/by Tyrepress Editors

Bridgestone a Contender for India OE Deal

Bridgestone India is in discussions with Toyota regarding the possibility of supplying OE tyres to its upcoming Indian market small car. According to Hisao Ikawa, Bridgestone India’s managing director, the Madhya Pradesh based tyremaker is “most likely to bag the order for supplying radials to Toyota’s proposed small car, which should roll out in 2009-10.”

7th March 2007/by Tyrepress Editors

India’s Carmakers look to China for Tyres

In a move that will no doubt further unsettle Indian manufacturers already concerned about tightening margins, one of the country’s major vehicle manufacturers has decided to fit its buses and multi-axle trucks with radial tyres sourced from China.

5th March 2007/by Tyrepress Editors

Amtel-Vredestein to supply tyres to Renault in Russia

Amtel-Vredestein N.V., has confirmed that its Russian subsidiary, OJSC Amtel-Vredestein has been nominated to supply tyres for Renault Logan cars produced in Russia. According to the company, the signed Protocol provided Amtel-Vredestein an opportunity to participate in tenders to develop and supply tyres to various Renault projects worldwide. “This agreement is further validation of our prominent position in the Russian market and the outstanding quality of our tyres. We are honoured to be selected by Renault,” said Amtel-Vredestein CEO, Alexei Gurin.

2nd March 2007/by Tyrepress Editors

Apollo to Import OTR Tyres into India

Apollo Tyres is considering sourcing OTR tyres from its acquired South African production facilities in order to meet increased demand from the construction and mining sectors. These tyres will most likely come from the 252,000 sq ft Dunlop plant in Durban, which Apollo acquired in April 2006 along with another facility in South Africa and two in Zimbabwe. Ten thousand tyres are produced every day at the Durban site.

1st March 2007/by Tyrepress Editors

Brityrex International on Target for a Record Show

With Brityrex International 2007 only a matter of weeks away, the show continues to attract exhibitors from a wide range of tyre and aftermarket sectors. Says Paul Farrant, managing director of the organisers ECI International: “When we began marketing the show, we deliberately targeted other aftermarket sectors as well as the tyre industry with a dedicated marketing and PR campaign. The result is a broader than ever exhibitor base, reflecting the wider range of services on offer today from garages and fast-fits as they concentrate on customer retention.”

23rd February 2007/by Tyrepress Editors

Run Flat Technology – an Indian Variation

An inventor in India has come up with a novel alternative to run flat tyre technology. Designed for motor scooters and cycles, the new invention, known as the modular portable castor wheel stand or, more simply, as the ‘X Wheel’, makes it easier for riders to keep their vehicle moving in the event of a sudden puncture.

20th February 2007/by Tyrepress Editors

MRF Raises Prices, Warns of Further Increases

Indian tyre major MRF has raised the prices of truck tyres and some other tyre sizes in an attempt to offset the impact of high rubber prices, but a senior company official has indicated that this increase is still not sufficient. Prices will rise by one per cent, but the company reportedly may again increase prices at the end of February, following the presentation of India’s federal budget.

20th February 2007/by Tyrepress Editors

Greater Commercial Vehicle Focus – Bridgestone India

Bridgestone India intends to increase its production capacity by 1,000 tyres a day to a daily capacity of 11,00 tyres at its plant in the central state of Madhya Pradesh and is gearing up to cater for the commercial vehicle market to a greater extent.

19th February 2007/by Tyrepress Editors

New Indian Plant for Michelin

As the 51/49 per cent joint venture between Michelin and Apollo Tyres has failed to materialise, the French tyremaker now plans to establish its own truck and bus radial manufacturing facility in the Indian city of Pune.

19th February 2007/by Tyrepress Editors