India
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.
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.
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.”
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.
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.
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.
An Air India flight to Delhi via Frankfurt had to make an emergency landing at Los Angeles International airport when a tyre burst soon after take off.
The plane dumped fuel over the ocean before returning to the airport. 100 firefighters and paramedics stood by but the jet landed safely and the 273 passengers and crew were unhurt.
(India/Rubber Asia) JK Industries Ltd has reported a net profit of 170 million rupees on a gross turnover of 24 billion (£294.7 million) for the year ended 30 September. JK recorded a net profit of 120 million rupees for the same period last year. Tyre exports stood at 3.82 billion rupees (£46.2 million).
(India/Rubber Asia) A customer satisfaction study conducted in 21 Indian cities has found a progressive reduction in car ownership cycle time (OCT) from an average of 61 months in 2002 to 53 months in 2005. However, the decline in OCT applied more to small and mid-size car models.
(India/Rubber Asia) The off-the-road (OTR) tyre makers in India are refusing to take fresh orders “at least for the next few years” in the wake of an avalanche of orders hitting them. The acute shortage of tyres, especially meant for heavy-duty dumpers, raises a serious threat to one of India’s core sectors, the mining industry, especially coal.
(India/Rubber Asia) At long last Dunlop India, a name that is as deeply steeped in history as it is in litigations, is getting the much-awaited kiss of life. After months of apparently tortuous negotiations, the Kolkata-based Pawan Ruia group has finally wrested management control of Dunlop India and also that of Falcon Tyres from the Dubai-based Jumbo Group for 2 billion rupees (about £25 million). The Jumbo group is owned by entrepreneur Manu R Chhabria.
Tubeless tyre sales in India remain flat despite the best promotional efforts of manufacturers. According to the Business Standard, tubeless products “have failed to impress buyers.”
“The infrastructure development and the road conditions have not kept pace with the technology development. The sales of tubeless tyres is restricted to the higher segment premium cars and still not many here are aware about the benefits of tubeless tyres,” said the regional service manager of JK Tyre.
Four Falcon Tyre board members have resigned, only days after the company was bought by the Ruia group. The company informed Bombay Stock Exchange that Vidya Manohar Chhabria, Komal C Wazir, Mohan M Thakur and Deepak Chaudhuri (the former executive director) had all resigned. The resignations took effect on 1 December, it emerged.
Michelin is planning to expand a Lexington County, South Carolina plant that makes large earthmover tyres, the associated has press reported. With reference to the current earthmover tyre shortage, Michelin said the company is investing in a South Carolina facility “west of Columbia.” He said capacity will be added there but did not discuss the size of an expansion nor a definitive timetable.
The privately owned Ruia Group has closed a deal to buy Dunlop India Ltd and Falcon Tyres Ltd, from the Dubai-based MR Chhabria group for a reported 2 billion rupees (£25 million).
“An agreement has been reached between Mr Pawan Kumar Ruia and the (Chhabria) Jumbo Group to hand over both Dunlop India and Falcon Tyres,” said H Sandu, a Chhabria group spokesman, confirming the development took place at a meeting in Mumbai.
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