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New Continental facility meeting growing Indian demand for premium tyres

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With the promise of “German engineering and technology”, adapted for local market performance requirements, Continental has launched two premium passenger car tyre lines in the Indian market. The ContiMaxContact MC5 and ContiComfortContact CC5 are being produced at a new, state-of-the-art passenger car and light truck tyre facility at the company’s Modipuram plant. The newly-built facility has an initial capacity of 800,000 tyres per annum, with potential for further expansion.

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Related news:

  1. Apollo To Build New Radial Plant
  2. Continental signs Modi Tyre purchase agreement
  3. Modi acquisition underlines Indian market commitment, says Conti
  4. Conti planning further PCR capacity in India
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JK Tyre profits rise 18% in July-September quarter

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India’s JK Tyre & Industries Ltd has reported consolidated net profit of Rs 755.9 million (£7.8 million) for the three months to 30 September 2014, the second quarter of the company’s current financial year. This result represents a year-on-year increase of 18.1 per cent. The company achieved a consolidated turnover of Rs 18.7 billion (£193.5 million), up 3.6 per cent from the second quarter of the previous financial year.

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Related news:

  1. Despite challenging environment, JK Tyre posts higher full-year profits
  2. JK Tyre reports US$ million 3Q net profit
  3. JK Tyre profits jump 41% in 2015-16
  4. JK Tyre now 26% shareholder in Treel Mobility Solutions
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Michelin to set up India R&D team

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Reporting from the Michelin Challenge Bibendum event in China, Indian financial daily the Hindu Business Line shares that Groupe Michelin intends to establish an R&D team in India that will develop truck tyres for the Asian market. While the publication hasn’t published the comments to this effect that Michelin CEO Jean-Dominique Senard is said to have made on 13 November, it quoted Senard as saying Michelin’s presence in India is “just beginning” and that Michelin hoped to grow its presence in India soon. The new R&D team will apparently be based at Michelin’s development centre in Gurgaon, Haryana State.

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Related news:

  1. Michelin breaks ground on Mexico tyre plant
  2. Michelin reaffirms opposition to 3mm replacement
  3. Michelin opens R&D laboratory in India
  4. Michelin becomes IndiGo tyre partner
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Ceat approves funds for new tyre factory

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At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.

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Related news:

  1. Indian tyre manufacturer shares surge over Easter
  2. Ceat acquires land for new tyre plant
  3. Ceat signs India factory MoU
  4. Tribunal approves Ceat Specialty Tyres merger
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Official openings held at Yokohama’s plant in India

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In February 2014, Yokohama India Private Limited reported the inauguration of its new factory in Bahadurgarh, with the Chief Minister of India’s Haryana State, Shri Bhupinder Singh Hooda, doing the honours. However it seems two official openings are better than one, and Yokohama Rubber shares today that an official opening ceremony was held at the plant on 1 November. And a further ceremony – the second or third, depending on who you ask – was held the following day for tyre dealers from around India.

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Related news:

  1. Yokohama begins volume tyre production in India
  2. Yokohama Rubber opens winter tyre proving ground
  3. Yokohama denies Alliance (ATG) acquisition rumours
  4. Yokohama investing US$165 million in new India OTR tyre factory
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Yokohama begins volume tyre production in India

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Commercial production has started at Yokohama Rubber’s tyre plant in India’s Haryana state. The facility, Yokohama’s first in the country, was officially inaugurated in February 2014 and undertook trial production throughout the first half of the year. Plant capacity during this initial phase of commercial production is 2,000 tyres a day. Plant output will focus on the Earth-1 tyre range, which has been specifically designed for the Indian market.

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  1. Hangzhou Zhongce confirms Thai factory reports
  2. Falcon Tyres posts 300 per cent growth in net profit
  3. Sumitomo to manufacture in Brazil through 100% owned subsidiary
  4. Govind Rubber expands with India plant, Netherlands subsidiary
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Reports: Maxxis/Cheng Shin planning India factory

Multiple Indian news sources are reporting that Taiwanese tyre maker Cheng Shin/Maxxis is planning to invest in an Indian factory. According to one Business Standard report, group president Dr. Wally Chen called upon Gujarat chief minister Anandiben Patel on 15 October.

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Related news:

  1. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  2. Maxxis confirms India tyre factory plans
  3. Chinese contingent view potential Thai rubber sources
  4. MRF to increase tyre production capacity – reports
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Rubber growers need replanting subsidies, says India’s tyre industry body

The organisation representing India’s tyre makers has called upon its national government to encourage rubber replantation and offer rubber growers subsidies to plant new trees. According to news published by the Press Trust of India, the Automotive Tyre Manufacturers’ Association (ATMA) wants these measures implemented in order to address the reluctance of growers to plant new trees, which can’t be tapped for their first six to seven years. Without encouragement, the ATMA fears growers will continue to tap older, lower-yielding trees; the association comments that this practice is profitable for growers due to the high prices natural rubber currently commands.

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Related news:

  1. Indian tyre makers’ association seeks duties review
  2. Smit: Cut rubber trees to manage price
  3. Chinese contingent view potential Thai rubber sources
  4. India’s tyre makers meet government to talk rubber prices
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Dunlop India re-opening Sahagunj factory

It’s now almost three years since a lockout at Dunlop India Ltd’s Sahagunj factory led to its mothballing, but it appears that the plant may soon be up and running again. Responding to an article in The Hindu newspaper that suggested production is set to recommence, Dunlop India sent a statement to the BSE confirming that “yes initiatives by West Bengal labour minister Mr. Moloy Ghatak have helped us to arrive (at) the decision of re-opening Dunlop’s Sahagunj Factory in West Bengal shortly.

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Related news:

  1. Court calls in liquidator to deal with Dunlop India
  2. Court calls in liquidator to deal with Dunlop India – update
  3. Ruia Group chairman taken into police custody
  4. Rubber growers need replanting subsidies, says India’s tyre industry body
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Smit: Cut rubber trees to manage price

Dr Hidde P Smit, former secretary general of International Rubber Study Group (IRSD) and rubber market analyst, has suggested tree-felling and reduced tapping in order slow falling rubber prices.

Delivering the key-note address at the sixth edition of India Rubber Summit & Dinner 2014 organised by Rubber Asia in Kochi, India on 21 September 2014, he predicted that the low price regime could continue for the rest of the decade and even beyond. He said any intensive rubber planting done now could lead to a glut in natural rubber (NR) market after six years, bringing the prices down further. He added that world NR consumption is expected to touch 18.6 million tonnes by 2025, while NR supply may exceed demand at 19.3 million tonnes by 2025 and 20.2 million tonnes by 2030. However Indian market representatives disagreed, pointing to the Indian example and suggesting the rising supply deficit could be bridged only by boosting production.

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Related news:

  1. Toyo supports sustainable natural rubber economy initiative
  2. IRSG launches ‘Women for Rubber’ competition
  3. IRSG welcomes new Thai member
  4. IRSG and GPSNR sign MoU
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Citexpo 2014 reports record figures

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Following the conclusion of Citexpo 2014 on 11 September, all initial figures point to the event being the most successful in the international tyre show’s history…by some way. Indeed, with this year’s unaudited visitor total said to have been around the 11,000 mark, the 2014 show could have grown by as much as 50 per cent since the last event, which attracted just over 7,000 visitors.

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Related news:

  1. Citexpo 2014 opens its doors to record crowds
  2. CITExpo 2015 to bid farewell to Everbright with largest edition projected
  3. CITExpo opens at Everbright for final time, previews move to modern facility
  4. CITExpo bids farewell to Everbright in 13th edition, previews move to modern facility
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Indian tyre makers’ association seeks duties review

The organisation representing India’s tyre makers has petitioned the country’s Finance Ministry to review its regional trade agreements and the duties charged under them. In a memorandum, the Automotive Tyre Manufacturers’ Association reiterated its long-standing claim that domestic manufacturers are being harmed by a double whammy of cheap, imported tyres and heavily-taxed raw material imports.

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Related news:

  1. Continental Eyes India and Russia
  2. Tyre makers paying 25% more to help India’s rubber producers
  3. India’s ATMA requests doubling of imported tyre duties
  4. TGI Releases Statement on ITC Ruling
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Apollo increases Chennai tyre plant by 50%

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Apollo Tyres Ltd’s board of directors has approved the expansion of truck-bus radial capacity at the Chennai plant from present levels of 6000 tyres per day to 8900 tyres per day. According to the company this move stems from the fact that the Chennai plant is outperforming projections.

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Related news:

  1. Bridgestone investing $304 million to expand plants in India
  2. Aiming for market leadership: Apollo investing a further £610 million in India
  3. India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres
  4. MRF receives state approval for Sadasivpet tyre plant expansion
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Despite challenging environment, JK Tyre posts higher full-year profits

JK Tyre & Industries reports a 29 per cent year-on-year increase in net profit for its 2013-14 financial year. During the 12-month period between 1 April 2013 and 31 March 2014, the Indian tyre maker achieved turnover of Rs 82.8 billion (£833.7 million), nine per cent higher than in the prior financial year. Operating profit was up 41 per cent to Rs 8.9 billion (£89.6 million) while pre-tax profit grew 42 per cent to Rs 3.5 billion (£34.9 million). The 29 per cent expansion in the company’s bottom line brought net profit to Rs 2.6 billion (£26.5 million). The company has announced a 50 per cent equity share dividend.

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Related news:

  1. Material costs squeeze JK Tyre 2011 profits
  2. JK Tyre profits rise 18% in July-September quarter
  3. Tornel operation gives JK Tyre quarter profit a boost
  4. JK Tyre profits jump 41% in 2015-16
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Reports: Apollo chooses Hungary for new tyre factory

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Slovakian news sources are reporting that Apollo has chosen Hungary over Slovakia for the site of its new 500 million euro tyre factory. According to the reports, is was “the business environment in Slovakia” pushed the manufacturer towards the other site when choosing from a shortlist of two.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Apollo Tyres opens €475 million greenfield Hungarian plant
  2. Stirred up for growth – Apollo Vredestein prepares for a greater European presence with new tandem mixer
  3. European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment
  4. Apollo lays foundation of Hungary Greenfield tyre manufacturing plant
/by

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