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Sumitomo to manufacture in Brazil through 100% owned subsidiary

Official confirmation has been given of Sumitomo Rubber’s plans for Brazil; in July the Japanese firm will establish Sumitomo Rubber do Brasil Ltda, a Panara state-based subsidiary responsible for manufacturing and selling tyres in Brazil. With an investment of some 560 million real (£211 million), Sumitomo Rubber do Brasil will erect a factory to produce passenger car radials. The 500,000 square metre plant is scheduled to start production in October 2013 and have a 15,000 tyre per day capacity. Sumitomo Rubber will be sole shareholder in the new subsidiary.

17th May 2011/by Tyrepress Editors

Michelin 2010 market recovery ‘much stronger than envisioned’ – Senard

At the Michelin Annual Shareholders’ Meeting on May 13, the French manufacturer reported its position strengthened in every geography during 2010 and particularly in mature markets. “Last year at this same time we were observing how the exceptional crisis of 2009 had had an impact on our business,” observed Michelin managing general partner Jean-Dominique Senard. “I think that this year we need to admit that the 2010 context is different and it was a buoyant situation. We had a much stronger market recovery than we could have envisioned at the time.”

16th May 2011/by Tyrepress Editors

Decade of Action gets underway – Michelin signs on

International News, News

On May 11, 2011 – a date that coincides with the official global launch of the World Health Organization and FIA Foundation’s ‘Decade of Action’ – Michelin Group managing partner Jean-Dominique Senard added his signature to the Global Road Safety Commitment to support the Decade of Action for Road Safety, 2011-2020, a United Nations supported and promoted initiative. By signing the declaration, Michelin says it has reaffirmed its commitment to pursuing and further expanding its initiatives to improve road safety.

13th May 2011/by Tyrepress Editors

Totrax enters fifth year distributing Emrald

News, Product News

Twenty-five year-old independent supplier of specialist wheels, tyres, axles and components, Boston’s Totrax Ltd began supplying India-manufactured Emrald Greckster industrial tyres exclusively five years ago. The distributer also supplies the UK market with exclusive products from Europe, manufactured by Italmatic. An effective way in which Totrax has worked is having built up a network of independent industrial tyre specialists supplying the forklift truck and industrial trailer market with a complete range of tyres and wheels. This specialist network allows all members to supply the Emrald or Italmatic brands wherever their customers operate, allowing continuity of brand across the UK. Totrax also states that it will continue to seek to add industrial tyre specialists to its network, encouraging interested parties to contact the company.

13th May 2011/by Tyrepress Editors

‘Ambitious growth strategy’ paying off as Lanxess profits jump 60% in Q1

The year has started well for Lanxess. After achieving what it calls its “best-ever quarterly result in the first quarter,” the German specialty chemical company says it is on track to achieve EBITA pre-exceptionals in excess of one billion euros in 2011; during the first quarter its EBITA pre-exceptionals rose 38 per cent year-on-year to 322 million euros, with double-digit growth recorded in all its segments and regions. The company’s sales increased 29 per cent year-on-year in the three months to March 31, 2011 due to higher volumes and price increases that helped offset rising raw material costs. EBITDA margin pre exceptionals rose to 15.5 per cent in the first quarter from 14.4 per cent a year earlier and net profit increased 60 per cent year-on-year to 166 million euros.

12th May 2011/by Tyrepress Editors

Apollo Tyres reports 9% annual net sales growth, profits down a third

Apollo Tyres Ltd has approved the company’s audited financial results for the fourth quarter (January to March) and the financial year 2010 – 2011. Consolidated annual revenues, taking into account manufacturing bases in India, South Africa and the Netherlands, grew 9 per cent to reach net sales of 88.6 billion rupees (£1.205 billion; 1.386 billion euros; US$1.983 billion). Net profit fell to 4.4 billion rupees from 6.5 billion rupees the previous year.

11th May 2011/by Tyrepress Editors

Reports: Thai tyre and rubber industry slowing after Japan earthquake

Thai news reports are warning that “over 30,000 workers in the rubber-based industry have been affected” following the earthquake/tsunami disaster that hit Japan recently. Quoting figures issued by the Federation of Thai Industries (FTI), the reports cited FTI Rubber Based Industry Club President Dr Chayo Trangadisaikul as saying: “15 domestic car tyre manufacturers have reduced production capacity by 30 – 40 per cent and cut overtime operations; thereby, over 30,000 workers in the industry are affected.”

10th May 2011/by Tyrepress Editors

Specialist supplier Kirkby Tyres “growing” Alliance, Double Coin, BKT ranges

One of the UK’s most prominent tyre suppliers for specialist application tyres, Speke’s Kirkby Tyres continues to supply Alliance, Double Coin and BKT ranges to the UK. The distributor’s product managers for the Indian Alliance and BKT brands – Ilan Goldstone and Dave Richardson respectively – told Tyres & Accessories that the brands’ continued growth in range coverage is being matched by the manufacturer’s focus on quality. Goldstone commented: “Alliance’s portfolio of tyres continues to grow not only in the industrial sector but across the whole of its product range. As a company they have identified and focused their efforts in producing some of the best performing tyres within their market sectors which has been aided by the construction of their new Indian manufacturing and R&D facility.” Richardson added that the BKT range is also expanding, with research and development “always at the forefront… On a recent trip to their factories in India it was clear to see as every batch of materials gets tested for quality every step of the way.”

10th May 2011/by Tyrepress Editors

JK Tyre aiming for annual 15-20% overseas growth

Speaking to India’s Business Standard newspaper, JK Tyre & Industries vice-chairman and managing director Raghupati Singhania has shared that the tyre maker is looking at expanding its international presence by 15 to 20 per cent every year. Currently JK Tyre sells Rs 8 billion (£108.5 million) worth of goods outside of India, some 44 per cent of which is produced at international sites. These overseas facilities include the Tornel plant in Mexico, which the Indian manufacturer acquired in 2008, and partner factories in China, Vietnam and Sri Lanka.

10th May 2011/by Tyrepress Editors

Natural rubber cost prompts Ceat price rise

Towards the end of May new prices will come into effect for Ceat products across India. Anarb Banarjee, the tyre maker’s executive director (Operation), told the Press Trust of India that “we have decided to jack-up the selling price of all types of tyres” due to “unbearable” current increase in natural rubber prices. Price increases of between three and five per cent are inevitable, Banarjee said, and will take effect in the last week of May.

5th May 2011/by Tyrepress Editors

Sumitomo Rubber considering Brazil, India tyre factories

International News

Sumitomo Rubber Industries Ltd. is reportedly considering building tyre factories in the emerging BRIC markets of Brazil and India. Reporting on a business strategy meeting held in Tokyo on 28 April, online news sources wrote that Sumitomo’s president Ikuji Ikeda said demand for tyres is growing rapidly in both countries, so expansion into these markets has become topic of discussion at Sumitomo Rubber. Various sources have reported that Ikeda said the company intends to establish its own plants there, but “may consider forming joint ventures with local firms.”

3rd May 2011/by Tyrepress Editors

Ruia’s resignation from Dunlop India chairmanship confirmed

Dunlop India has informed the Bombay Stock Exchange of the resignation of Pawan Kumar Ruia as chairman of the tyre maker’s Board of Directors. Ruia’s resignation took effect on January 31, however the BSE was not notified until April 28. The Ruia Group chairman retains his position as director of the company.

29th April 2011/by Tyrepress Editors

Conti on track for 10% sales growth in 2011

The first quarter of 2011 will form a “solid foundation” for Continental Corporation’s year as a whole, the tyre and automotive component supplier reported at its annual shareholders’ meeting. The complete report for the first quarter won’t be released until May 5, however at the April 28 event, Continental reported a 20+ per cent year-on-year sales increase during the first three months to more than 7.3 billion euros. EBIT, at nearly 634 million euros, was around 140 million euros higher than in the first quarter of 2010.

29th April 2011/by Tyrepress Editors

Kanwar: European Apollo tyre sales to increase 30% by winter

Apollo Tyres’ managing director Neeraj Kanwar is expecting European aftermarket sales of its Apollo-branded tyres to grow to between 60,000 and 65,000 units a month by the winter season. According to an interview published in the India’s Hindu Business Line, the company is currently selling around 50,000 of these tyres a month in Germany, the Netherlands, the UK and Italy, meaning the proposed uptick in sales will be in the order of 20 – 30 per cent. According to the reports these figures are “over and above the sales of Vredestein branded tyres manufactured in Europe.”

21st April 2011/by Tyrepress Editors

Elgi Rubber acquires Dutch rubber recycler

Elgi Rubber International Limited has announced the acquisition of a 100 per cent interest in Rubber Resources B.V. on 16 March, 2011. Elgi, headquartered in India, has operations in the USA, Brazil, East Africa and other parts of the Indian Subcontinent, focusing on rubber recycling, especially in tyres and retreading. Elgi says the acquisition “means a strong presence in Europe and big step towards being a worldwide supplier of reclaim to the rubber industry”.

20th April 2011/by Tyrepress Editors