Point S hints at Indian market involvement
Fabien Bouquet, CEO of Point S International HQ, took part in the Tyre & Rubber industry Leadership Acknowledgement TRILA Awards that took place in parallel with Tyrexpo India on 15 June.
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Sameer Africa switching to Chinese/Indian contract manufacturing
On Wednesday 8 June, Sameer Africa CEO Allan Walmsley told local newspapers that the firm, which makes Yana brand tyres, would earn higher margins contracting-manufacturing with tyre producers in China and India. No names were overtly mentioned, but an unnamed Indian firm that bid unsuccessfully Sameer during the last year is thought to be a key suitor. No date for the closure of production and transition to contract manufacturing has been given, but judging by the nature of speculation surrounding Sameer’s ownership and business in general it is likely to be an ongoing process.
Apollo Tyres annual net profit up 12 per cent, but European sales slide
On the occasion of publishing its full-year 2015/2016 financials, Apollo Tyres has reported sales of 117 billion rupees (£1.214 billion; 1.537 billion euros; US$1.757 billion) compared with 127.256 billion rupees in 2014/2015. During the same period (2015/2016) operating profit grew 3 per cent to close at 20.4 billion rupees, up from 19.8 billion rupees. Net profit increased 12 per cent to 10.9 billion from 9.8 billion rupees the year before.
Dumping investigation against truck tyres from China starts in India
India’s government has begun investigating allegations that Chinese-made truck and bus radials are being sold at dumping prices in India. The Ministry of Commerce’s Directorate General of Anti-Dumping and Allied Duties (DGAD) claims to have found sufficient “prima facie” evidence of dumping activities, and national industry association the Automotive Tyre Manufacturers Association (ATMA) has filed an application for the start of an anti-dumping investigation on behalf of several domestic tyre makers. The ATMA seeks the introduction of anti-dumping duties.
Surender Kandhari acknowledged at Punjabi Icon Awards
Earlier this month, the annual Punjabi Icon Awards were held in Mumbai, India, and Surender Singh Kandhari was amongst those honoured at the ceremony. The Punjabi Cultural Heritage Board (PCHB), an organisation representing Sikhs and Punjabis in the city of Mumbai and state of Maharashtra, awarded Kandhari for his achievement in the global corporate sector.
Imports creating disquiet within India’s tyre industry
Recently, the mouthpiece association for tyre dealers in India released statistics that appear to contradict concerns expressed by the body representing the country’s tyre manufacturers. After the Automotive Tyre Manufacturers Association (ATMA) petitioned India’s Ministry of Commerce & Industry in March to increase duties on truck and bus radials imported from China, the All India Tyre Dealers Federation (AITDF) responded with figures that show quantities of imported tyres arriving in India are falling rather than rising. The ATMA has in turn hit back, claiming that the AITDF numbers don’t tell the full story.
Bridgestone and MRF top JD Power India OE tyre survey
Bridgestone and MRF have tied for first place in JD Power’s latest India Original Equipment Tire Customer Satisfaction Index (TCSI) Study. However, while they both ranked first in overall customer satisfaction, scoring 881. Bridgestone performed well in terms of ride (883) and MRF performed particularly well in appearance (884). Apollo came third, with JK Tyre fourth and Goodyear in fifth.
Cavendish now a JK Tyre subsidiary
JK Tyre & Industries Ltd reports that the acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. was completed on 13 April, and the company is thus now a JK Tyre subsidiary. The Indian tyre maker acquired 64 per cent of all equity shares in Cavendish for Rs 10 each; the remaining equity shares in Cavendish have been acquired by associate and group companies of JK Tyre.
Ceat commissions Buti Bori plant
The first phase of the greenfield factory project that Ceat Ltd began in late 2014 is now complete, the tyre maker reports. The Buti Bori plant, near Nagpur in India’s Maharashtra state, was commissioned on 28 March and has the capacity to produce 15 tonnes of two and three-wheeler tyres a day – some 40,500 pieces.
Tyrexpo India coming to New Delhi in 2016
The Tyrexpo India tyre trade exhibition, first held as a biennial show in 2011, will now be held annually – from this year, the established event in Chennai is being supplemented by one in New Delhi.
Yokohama denies Alliance (ATG) acquisition rumours
Yokohama has denied press reports that it is aiming to buy a majority of Alliance Tire Group (ATG). Acquisition talk had suggested private equity firm Kohlberg Kravis Roberts (KKR) was in talks to sell what would amount to a majority shareholding of its stake in ATG (which is currently 90 per cent) to Yokohama.
Kumho shows ‘futuristic’ all-terrain concept tyre for Hyundai’s Carlino compact SUV
Kumho has designed a “futuristic” all-terrain tyre for the innovative Hyundai Carlino compact SUV unveiled at Auto Expo 2016 in Delhi. The tyre, designed in collaboration with the South Korean car manufacturer, has been engineered to adapt to all manner of surfaces while maintaining optimum grip. With strong on- and off-road performance, the Kumho-shod Carlino […]
Export markets a focus for Ceat agricultural tyre plant project
Indian tyre maker Ceat Ltd reports it has given its wholly-owned Ceat Specialty Tyres Ltd (CTSL) subsidiary land in Ambarnath, near the city of Mumbai, for the purpose of erecting a new greenfield radial OTR tyre factory on the site, and has further aided the project through an Rs 250 million (£2.6 million) equity investment in CTSL in the October to December 2015 quarter. Altogether, CTSL will invest Rs 3.3 billion (£33.8 million) to build a plant with an initial daily capacity of 40 tonnes.
Is MRF Challenge Chennai podium a sign of Indian motorsport global dawn?
The global profile of sport in India has been growing with the country’s economic prosperity, signified primarily by the wealth and interest of cricket’s Indian Premier League. Now the potential for it to become a significant global player in motorsport has been trumpeted by tyre manufacturer – and sporting equipment supplier – MRF. The manufacturer suggests a podium from the final races of the MRF Challenge series at Chennai symbolises India’s emergence; on the top step is Pietro Fittipaldi (grandson of Emerson), 2nd is Harrison Newey (son of Adrian), and 3rd is Mick Schumacher (son of Michael).
Will a tyre major acquire ATG?
Indian financial daily The Economic Times reports that American private equity firm KKR & Co. L.P. has begun initial talks that may result in the sale of its 90 per cent share in off-highway tyre specialist Alliance Tire Group. The publication names Sumitomo, Continental and Michelin as potential buyers, however it notes that no confirmation of these firms’ interest has been given.
