India
Aditya Birla Nuvo, a company within India’s Aditya Birla Group, has divested its carbon black businesses to another group company, SKI Carbon Black (India) Pvt. Ltd. The company says the decision to divest was approved in a committee meeting held on 6 April, and the carbon black business will be divested at an enterprise value of Rs 14.51 billion (£173.2 million).
According to the results of J.D. Power Asia Pacific’s 13th annual study into original equipment tyres in the Indian market, customer satisfaction has slightly risen in this past year. The 2013 India Original Equipment Tire Customer Satisfaction Index Study measured satisfaction towards original equipment tyres during the first 12 to 24 months of ownership. Four factors – appearance, durability, traction/handling and ride – were measured, with points awarded according to level of satisfaction in each category. The potential maximum total score was 1,000 points.
When Autopromotec 2013 takes place at the end of next month, the organisers are hoping it will be their biggest yet. Complete exhibitor details were not available at the time of going to press, but early indications suggest the show is on-track to achieve this goal. For example, six months before its scheduled opening, certain sections of the international automotive equipment and aftermarket product trade fair were already fully booked. And the momentum seems to be coming from our part of the industry. Indeed the tyre and garage equipment pavilions were amongst the first to sell out.
The organiser of Tyrexpo Asia 2013 recorded a “substantial increase in visitors” to this year’s Singapore show. Exactly 4,355 individual visitors from 97 countries attended the trade exhibition held at the Singapore Expo Centre between 19 and 21 March, an increase of 22.5 per cent in comparison to the 2011 show’s prior record. Exhibitor numbers at the 2013 show were 64 per cent higher than two years ago, with 250 suppliers displaying their products at Tyrexpo Asia 2013.
A day after our coverage of European rules relating to the introduction of ABS on two-wheel vehicles. Continental AG has released details of its one channel ABS for motorcycles.
According to ADAC Accident Research, around a fifth of all motorcycle accidents could have been prevented if the bike had been fitted with an anti-lock braking system (ABS). To improve the active safety of motorcycles, Continental is expanding its range of electronic braking systems by introducing an one-channel ABS for smaller motorcycle and scooters. Based on its cars technology it was developed especially for cost-sensitive markets such as Asia, where the wheelers must be equipped only with a hydraulic brake on the front wheel.
Double Coin holdings Limited’s ownership of the Double Coin trademark in India has been confirmed in a dispute between the Chinese manufacturer and local distributor, Trans Tyre (India) Private Limited. The Hindu newspaper reports that the Chennai-based Intellectual Property Appellate Board (IPAB) has ordered that the trademark registration granted to Trans Tyre in 2007 be nullified.
India’s BKT is exhibiting its latest high speed crane and forklift tyres at Tyrexpo Asia 2013. The 445/95 R25 Airomax AM27 pattern for high speed crane fitments and the Maglift STF solid range for forklift trucks debuted at the show, along with the recently introduced Container King 18.00-25 tyre popular in Asian ports.
Following a claimed development time of just six months, Apollo Tyres has rolled out its new Amazer 3G, a tyre specifically intended for fitment on Mahindra and Mahindra’s first electric car, the e2o. The rolling resistance optimised Amazer 3G is standard fitment for the e2o in size 155/70 R13 – a size the vehicle manufacture exclusively acquires from Apollo.
Speaking as principal guest at the opening of Tyrexpo Asia 2013, the secretary-general of the International Rubber Study Group (IRSG) has predicted strong global demand for tyres through the coming decade. Dr Stephen Evans said that large scale Chinese and Indian car registration growth is projected to help increase the world’s vehicle pool by more than 50 per cent in the next decade. The ninth staging of the show opened in Singapore on 19 March, with more than 250 exhibitors in tyre, rubber, equipment, machinery and accessory suppliers participating.
With much of the grid employing different tyre strategies at the season-opening Australian grand prix, Pirelli’s Motorsport director Paul Hembery believes that the winning drive by Lotus’ Kimi Raikkonen displayed the best understanding of the “deliberately bold” selection of rubber. Raikkonen won the Australian Grand Prix using a two stop strategy, having started the race on the P Zero Red supersoft tyre and then completing two stints on the P Zero White medium tyre. Ferrari’s Fernando Alonso, the Finnish driver’s closest rival used a three-stop strategy, as did the rest of the top six.
Reports from India suggest private equity firm KKR and Co. is in the last stage of talks to buy as much as an 80 per cent stake Alliance Tire Group. The latest news, which follows a couple of months of speculation about the deal, values the company at around US$600 million. According to livemint.com, KKR will buy out the stake currently held by another private equity firm, Warburg Pincus Llc, as well as the minority stake held by certain other stakeholders.
The latest round of speculation associated with the sale of shares in Alliance Tire Group puts Kohlberg Kravis Roberts (KKR), Blackstone, TPG Capital and Advent International at the front of the pack. According to a Times of India report published on 20 February the firms are “set to fire bids valued at more than US$300 million to acquire majority shares in Alliance Tire Group.” Standard Chartered Private Equity is also said to be bidding.
The association representing India’s tyre makers has expressed its opposition to a government decision to increase import duty on rubber. In a statement, Automotive Tyre Manufacturers Association Anant Goenka said any such decision “will have far-reaching and adverse consequences on tyre industry and its long-term impact will be felt on the entire value chain of rubber sector.”
Goodyear India Ltd. has reported a 2012 fiscal year net profit of Rs 563.2 million (£6.9 million), 12.8 per cent lower than the previous year’s result. Net sales for January to December 2012 amounted to Rs 14,812.9 million (£181.5 million), down 2.2 per cent year-on-year, while profit from operations before other income, finance costs and exceptional items was Rs 711.7 million (£8.8 million), a year-on-year decrease of 23.2 per cent.
Despite a dip in the overall market last year, some analysts are predicting that global heavy and medium truck sales will increase “moderately” in 2013 owing to rising demand from so-called Next-11 countries and other emerging markets.
The report by Frost & Sullivan forecasts that the combined GDP of key commercial vehicle markets will grow at 3 to 3.5 per cent in 2013. This is expected to stoke medium-heavy truck sales growth at the rate of 4.3 per cent in 2013. Furthermore, the slowdown in Europe and moderate expansion in truck demand in North America will be largely offset by robust growth in Next-11 and other Rest of World (RoW) markets, resulting in global medium-heavy truck sales reaching 2.8 million this year.
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