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Michelin Apollo Unveils New Commercial Tyre

Michelin Apollo Tyres Pvt Ltd, the Indian joint venture between Michelin and Apollo Tyres, has introduced a new truck and bus radial tyre for the Indian market. The tyre, which features both Michelin and Apollo trademarks on the sidewall is currently imported, although it is anticipated that the tyre will be made in India by 2005. Mr. Herve Dub, who will become CEO of the jv company in May as part of a seven-member board (four members from Michelin, three from Apollo), described the two trademarks on the tyre as “a concrete demonstration of the partnership between Apollo Tyres and Michelin.”

20th April 2004/by Tyrepress Editors

MRF Tops JD Power Study

In India, MRF has topped a JD Power study on OE tyre customer satisfaction for the third year running. More than 1,500 owners took part in the study, assessing tyres on 20 different attributes. Bridgestone, JK Tyre and Goodyear were behind MRF in the ratings. This year’s study was the first to deal solely with radials, as these account for nearly all tyres fitted to new passenger cars in India. The survey also revealed that more than 20 per cent of new-vehicle buyers choose the brand of tyres fitted on their new car.

20th April 2004/by Tyrepress Editors

Indian manufacturers hike prices

Due to rising natural rubber prices in international markets, tyre makers across India are planning to increase prices in replacement markets. Prices are expected to go up by around 3-5 per cent by April-end. “We have already hiked our prices almost four times in the past 12 months. And the input costs have shown no signs of softening,” says Sunam Sarkar, director of Apollo Tyres. Prices of rubber alone have seen a 30 per cent jump year-on-year.

6th April 2004/by Tyrepress Editors

Michelin Apollo to build new plant

Michelin Apollo Tyres would pump in about 67 million euro to set up a new plant at Ranjangaon in Maharashtra (India) to produce 350,000 bus and truck radial tyres annually. 51 per cent of the investment will come from Michelin, the balance from Apollo. As the production is scaled up in future so too will the investment.

19th March 2004/by Tyrepress Editors

Widest Indian manufactured car radial

The ZVRL 265/70 R15-size radial has been manufactured in India by MRF, has met with Ford’s international standards and come as 100 per cent fitment on the Ford Endeavour, says a release from the company. These Indian manufactured tyres will compete against imported tyres which were the only one available in this sector of the market until now. The development of this premium radial tyre opens up the market for MRF.

5th March 2004/by Tyrepress Editors

Raw Material Costs Hit Michelin’s 2003 Figures

Michelin has released its 2003 year-end figures. These show net sales of 15.4 billion euro (down 1.8 per cent on 2002), although sales volume (in tons) rose by 3.7 per cent. Operating income was down 6.7 per cent, to 1.143 billion euro and net income was down 47 per cent, to 329 million euro. The main impact on the figures came from sharply-increasing raw material costs, which rose by 21 per cent (in US$) during the year. Currency fluctuations and several one-off extraordinary items also had a negative effect on the figures. Michelin believes that, in the light of these exceptional cost increases, its 2003 figures show that the company is resilient, with increased investment and a strengthened global presence. The company claims a worldwide tyre market share of 19.2 per cent.

25th February 2004/by Tyrepress Editors

Michelin to import truck tyres to India

The Indian Government is to permit Michelin to import bus and truck radial tyres for wholesale trading on cash and carry basis until its joint venture with Apollo Tyres becomes operational. Michelin Apollo, 51 per cent owned by the French firm and 49 per cent by Apollo Tyres, will take about 20 months to begin production.

20th February 2004/by Tyrepress Editors

ThyssenKrupp to Manufacture Tyre Curing Presses in India

ThyssenKrupp Elastomertechnik has signed a further technical co-operation agreement with the Indian-based manufacturer, Alfred Herbert India. The agreement relates to the manufacture of the column curing presses, for the Indian market. Following the agreement signed in 1999 for the manufacture of the first frame-type hydraulic curing presses for India, the two companies are now moving into the area of advanced machine technology for the production of high-performance radial tyres and ultra-high-performance tyres. ThyssenKrupp Elastomertechnik’s Managing Director, Frank Horch, believes that India – particularly its tyre sector – will play an important part on the world market and for ThyssenKrupp Elastomertechnik in the coming years.

19th February 2004/by Tyrepress Editors

Michelin investment in Apollo Tyres cleared

India has approved a proposal by Europe’s biggest tyre maker, Michelin, to pick up a 14.9 per cent stake in tyre-maker Apollo Tyres Ltd for 71.44 million Dollars. A government statement said the investment by Michelin would be used to manufacture, market and distribute truck and bus radial tyres in India. Truck and bus tyres account for more than 70 per cent of India’s 2.2-billion dollar tyre industry but less than two per cent of tyres are radials. But radials make up more than 75 percent of car tyre sales. Indian transporters have shied away from radial tyres, seeing them as not rugged enough for the appalling roads and rampant overloading in India. However, radial sales are expected to increase because of improved highway conditions.

13th February 2004/by Tyrepress Editors

Bekaert celebrates its first steel cord plant in India

Bekaert has officially inaugurated its first steel cord plant Bekaert Industries Pvt Ltd in Pune (India).

6th February 2004/by Tyrepress Editors

TYREXPO ASIA 2004

‘Europe was top dog in the 1800’s, America was the great power of the last century and the next 100 years will belong to Asia’ (The Times).

A recent report by Goldman Sachs forecast that China will overtake America to become the world’s largest economy by 2040. As China’s economy grows, it will act as a magnet for raw materials and goods from surrounding Asian countries, giving a boost to the whole region. It remains one of the most exciting growth areas in Asia, with its potentially vast consumer markets and its low manufacturing cost base.

Singapore is a recognised gateway to Asia, attracting leading buyers from the whole of South East Asia and Australasia as well as the key decision makers from China and other Asian markets, providing a comprehensive mix of buyers and sellers from across the entire region.

The Asian region offers the tyre industry major opportunities for those companies committed to its long-term future. With Asian tyre consumption accounting for over 35 per cent of world demand combined with the enormous potential of tyre markets such as China and India where companies are making a name for themselves in the global tyre market, the Asian region offers investment opportunities to manufacturers and suppliers alike.

Tyrexpo Asia 2004 will be the 4th in the series of Tyrexpo Asia events that focuses on the fastest areas of growth in the tyre market and it is the only established tyre event of its kind in Asia. The 2004 event will be the largest yet and exceeds previous Tyrexpo Asia shows by over 25 per cent. The 2001 exhibition attracted visitors and exhibitors from over 63 different countries making it a truly international event. The show will once again be sponsored by Tyres & Accessories and Neue Reifenzeitung in addition to being strongly supported by specialist trade press and sponsors IE Singapore (International Enterprise Singapore). Tyrexpo Asia 2004 takes place from the 17 to 19 February at the Singapore Expo Centre and provides the perfect forum for the tyre industry to be stimulated by new ideas, products and market opportunities which reflect the importance of globalization within the region. The show focuses on every aspect of the tyre industry from tyres, retreads, tyre changing & repair equipment, to fast fit, garage equipment and parts & accessories. Amongst exhibitors are:

A-Z Formen und Maschinenbau, Big Wheel, Clipsal Airtec Pty Ltd, Collman, Columbus McKinnon, Del-Nat, Elgitread, DuroTyre, Federal Corporation, Fujikoki, Global Traco, Gummiwerk Kraiburg, Hangzhou Zhongce, Hock Lee, Italmatic, Jantsa, Kenda, Konimpex, Leka-Reifengrosshandel, Liew Koon, Mace Engineering, Midas, Mindtrac, Mohawk International, Myers Tire Supply International, Newera, Nexen Corporation, Pirelli Speciality Products, Pt Gajah Tunggal, Pt Mega Tires, Rema Tip Top, Samik Corporation, Sicam Tyre Equipment, Stamford, Tech International, Treadway Exports, Tyre Trading International, Value Tyres, Viewtum, Vipal and many more.

28th January 2004/by Tyrepress Editors

Bridgestone to build truck radials in India

Bridgestone plans to set up a plant in India that will make truck radials and help it establish a firm foothold in the country, the world’s fifth biggest tyre market. The tyre manufacturer’s local unit, Bridgestone ACC India, currently manufactures radial tyres for passenger cars and small vans at a factory located near Indore in Madhya Pradesh. Sources said Bridgestone officials are preparing a project report on the size of production capacity and investments required to set up the plant, which will take around 18-24 months to build.

5th January 2004/by Tyrepress Editors

India reduces duty on Chinese tyres

Indian tyre manufacturers will have to compete with tyre imports from China at much lower protection levels in 2005. The Indian Finance Ministry has formally included China in the list of countries that can avail themselves of preferential rates of Customs duty on specified products under the Bangkok Agreement. Mr D. Ravindran, Director-General of the Automotive Tyre Manufacturers’ Association (ATMA), said that the five per cent concession in Customs duty would definitely result in more imports of truck and bus tyres into India from China.

5th January 2004/by Tyrepress Editors

Indian government changes DEPB rules

TYRE exporters in India may have cause for cheer now that the Central Government has allowed fixation of value caps for availing duty entitlement passbook (DEPB) on a per kilogram basis. This is as against the present system, where the Director-General of Foreign Trade fixes uniform value caps for each category. Thus, exporters of truck and bus tyres were eligible to claim 20 per cent DEPB on free-on-board value or the specified value cap of Rs 5,500 per pair (tyre plus tube), whichever was lower. To overcome the classification problems, the Government now fixed the value caps on a weight basis at Rs 90 per kg for all automobile tyres. There has, however, been no change to the DEPB rate, which has been pegged at 20 per cent.

11th December 2003/by Tyrepress Editors

Indian Tyre industry missing opportunity

India’s outsourcing boom is likely to have little impact on the tyre industry that has huge potential. The tyre industry needs to source rubber at global prices. Availability of rubber at par with international majors like Continental, Pirelli or Yokohama would lead to development of India as a base for manufacturing, according to Anil Sampat, an industry analyst and former rubber industry insider. India’s largest player MRF is still one fifth in size of global companies. The only way the Indian tyre industry can grow and reach global scale is to attract investments from international tyre majors as the industry is capital intensive. The small size of Indian companies is a source of worry, says Sampat. With tyre industry expected to grow only by 2 per cent, “real growth can come only when India offers world class manufacturing facilities for global players,” he points out.

11th December 2003/by Tyrepress Editors