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YHI Looks to Eastern Bloc and South Africa for Expansion

Automobile tyre-maker YHI International started its aggressive overseas expansion only in the 1990s and yet it already has presence in nearly every continent. Not content with its achievements, it is now focusing on faraway reaches like South Africa.

Up until the 80s, YHI could claim only Singapore and Malaysia as the markets for its tyre distribution business. But the company realised that it had to expand beyond these two markets for further growth. That’s why, in the early 1990s, YHI started to make inroads into China, Taiwan, Hong Kong and Australasia.

7th February 2006/by Tyrepress Editors

Apollo Acquires Dunlop International – Update

International News

Further details of Apollo Tyres’ acquisition of Dunlop International (also known as Dunlop South Africa) have emerged. Firstly Dunlop Nigeria (estimated turnover of $65 million, £40 million) is not included in the sale. Apollo representatives gave no reason for this. Furthermore, the Indian company confirmed it would keep the troubled Dunlop Zimbabwe business.

“Dunlop is the only tyre manufacturer in Zimbabwe and it is a profitable operation,” Apollo spokesperson Kankana Das told Tyres & Accessories. However in light of inflation rates as high as 800 per cent any profitability must be difficult to maintain. “Any operation can be profitable as long it is able to pass on price increases to cover the cost push. The Zimbabwe operations have been able to do this,” Das added.

7th February 2006/by Tyrepress Editors

TVS Tyres’ £7.7 million Expansion Plans

TVS Tyres is to invest 600 million rupees (£7.7 million) in expanding its domestic and export capacity. “Our new capacities will be ready by 31 March. We currently manufacture 7 lakh tyres a month; after the expansion, we will have capacities to manufacture 900,000 tyres per month,” S Balasubramanian, vice president, marketing, TVS Srichakra Ltd told India’s Economic Times.

6th February 2006/by Tyrepress Editors

Tyre Firms to Hike Prices Afresh

Indian tyre manufacturers are set to increase prices following further increase in rubber prices. The recent most recent hike is said to be 1.5-2 per cent, according to India’s Business Line newspaper.

Over the last 13 months, tyre prices have gone up by 15 per cent for the OE segment, and 7 to 8 per cent for the replacement market, which mostly comprises truck tyres.

6th February 2006/by Tyrepress Editors

Going, going, gone – Blackcircles launches Online Auction Site

Online tyre business, blackcircles.com, has launched a ‘virtual auction’ website. Designed as a way of bringing cut-price quality products to the masses, the company is aiming to use its reputable image to shine a light on the sometimes questionable world of Internet tyre auctioning. Whether or not the site is aiming to or, can realistically compete with, global giants like eBay is another question.

3rd February 2006/by Tyrepress Editors

Ruia Group Acquires Dunlop India and Falcon Tyres

The privately owned Ruia Group has bought Dunlop India Ltd, Falcon Tyres Ltd and India Tyres from the Dubai-based Jumbo Group for a reported 2 billion rupees (£25 million).

“An agreement has been reached between Pawan Kumar Ruia and the (Chhabria) Jumbo Group to hand over both Dunlop India and Falcon Tyres,” said H Sandu, a group spokesman, confirming the development took place at a meeting in Mumbai.

According to India’s United News Agency, Ruia said the figure required for revival of the company was around 1.5 billion rupees, although the National Productivity Council projected the package would be around 2.1 billion rupees. He said the liability of Dunlop stood at around 6 billion rupees and negotiations with the staff and the bank will begin shortly. The Sahagunj and Ambattur factories will be opened shortly and the redevelopment will reportedly take around two years.
After visiting the factory with his family members and a group of executives, Ruia told the Business Standard that the condition of the Sahagunj plant was much better than expected. “I think, we could start production soon at the plant,” he said. However, Ruia qualified his optimism by saying he wanted to restart production in phases.

Most of the production lines, which include rubber pipe and hose production equipment, are reportedly “old”, but the factory also “has a modern conveyor belt line,” the Business Standard reported. At the last count, the Sahagunj unit had 2,700 employees. Production at the Ambattur factory is expected to restart in six months time.
Apart from the Ruias, Metro Tyres, MRF, Hero Honda, the Caparo Group of Lord Swraj Paul and the Sarda Group were all also in the in the running to purchase the assets.

Dunlop says it aims to become a leader in the tyre industry, even if it means getting into alliances with global tyre giants keen on India, said Pawan Ruia at the first media meeting after taking over Dunlop. According to the Business Standard, the Sumitomo name was mentioned as one such company.

3rd February 2006/by Tyrepress Editors

CITExpo Can Celebrate Successful Breakthrough

When the China International Tire Expo (CITExpo) opened its gates for the second time in 2004, it was already considered to be the potential Chinese tyre show of the future. It appears these estimations were well founded now that the third show in December has reached a size, which makes it the biggest show of its kind in East and South-East Asia. CITExpo even had to move into a different venue in order to accommodate its 150 exhibitors. Overall more than 5,800 visitors have registered with the organisers; two thirds came from abroad and the growing number of foreign exhibitors emphasises the increasingly open Chinese tyre market.

To the organisers of the China International Tire Expo the positive developments of the show have been much more than just good luck. “Most industry experts know our exhibition by now,” says Wilko Fong. The managing director of Reliable International Exhibition Services Co., Ltd., the organising company from Beijing, firmly believes that many of the current exhibitors have already taken part in earlier shows as visitors in order to find out how the land lies. Only now this wait-and-see-approach has actually paid off for the Shanghai CITExpo, with the latest event taking place in the Everbright Convention & Exhibition Center in downtown Shanghai.

31st January 2006/by Tyrepress Editors

The Widest Possible Niche

The history of Balkrishna Tyres, a company that is probably better known by its initials – BKT, began with its incorporation in 1988. The production of off-highway tyres followed in 1995. Since its foundation BKT has made its mark in the niche segments and offers tyres for agricultural, construction, industrial and earthmover applications. Now, with £39 million (Euro 56 million) being invested, the cumulative production capacity at all three of BKT’s plants is set to almost double, from 60,000 to 100,000 tons per annum. Part of this investment will go towards the introduction of a radial earthmover tyre range later this year.

30th January 2006/by Tyrepress Editors

Apollo Tyres Buys Dunlop International

Apollo Tyres Ltd is to buy Dunlop Tyres International (Pty) Ltd (Dunlop South Africa) for US$62 million. The all-cash deal will see Apollo take on 100 per cent equity for 2.9 billion rupees (£37.3 million). The transaction is subject to regulatory approvals in both countries, including that of the South African Competition Commission, and a number of conditions. The Durban, South Africa-headquartered company also owns subsidiaries in Zimbabwe and the United Kingdom. The news follows speculation that Apollo Tyres was interested in purchasing Dunlop Zimbabwe.

30th January 2006/by Tyrepress Editors

Apollo Tyres Invests In Truck and Bus Radial Manufacture

Apollo Tyres is to invest 400 million rupees in truck and bus radial production at the company’s Limba plant. Apollo’s announcement follows the news in October 2005 that Michelin had bought Apollo Tyres’ stake in the two companies’ joint venture. At the time Michelin cited the “slower than projected pace” of radialisation as its reason for the move.

26th January 2006/by Tyrepress Editors

India Begins Anti-Dumping Probe on Chinese, Thai Tyre Imports

India has initiated anti-dumping investigations against imports of bus and truck tyres from China and Thailand, The Hindu newspaper has reported. The announcement follows a complaint filed by the industry tyre industry association ATMA alleging market “dumping.” The Directorate General of Anti-Dumping and Allied Duties will the investigate the period between 1 April 2004 to 30 June 30 2005, it said.

23rd January 2006/by Tyrepress Editors

Apollo Sets its Sights on Dunlop Zimbabwe

Life has been hard for Dunlop Zimbabwe in recent months, now the company is being targeted for takeover by India’s Apollo Tyres, it has emerged. Dunlop International CEO Mark Hankinson is expected to travel to Harare in the next two weeks, the Zimbabwe Financial Gazette reported. Hankinson, whose group controls 75 per cent of Dunlop Zimbabwe is quoted as saying “We are talking to a number of people.”

19th January 2006/by Tyrepress Editors

Tyre Importers Accused of ‘Dumping’ In India

The Indian tyre lobby has convinced the government to initiate anti-dumping proceedings against imports from China and Thailand. Tyre makers allege that over 35,000 bus and truck tyres are being imported from China and Thailand every month at huge discounts compared to global and domestic prices, India’s Economic Times reported.

10th January 2006/by Tyrepress Editors

Michelin’s Radial Plans Rely On Demand

Michelin has put its planned collaboration with Apollo Tyres on hold while the businesses wait for the national radialisation rate to gather speed. The companies maintained that their working relationship was on track, but that demand has to increase before manufacturing work gets underway.

10th January 2006/by Tyrepress Editors

Apollo Expands PCR Capacity

Apollo Tyres Limited is to expand the passenger car radial (PCR) capacity of its Limda plant, the Business Standard has reported. The company will reportedly invest 3 billion rupees (£38.33 million) in the expansion of its PCR capacity at its Limda unit.

6th January 2006/by Tyrepress Editors