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Strong Indian contingent at Automechanika Middle East

Automechanika 2011 features a strong contingent of Indian tyre manufacturers and distributors including well known names such as JK Tyre, BKT and Emrald, to name just three. As the show organisers expanded the number of exhibitors many times over at the fair in general, it appears to have been a conscious decision to invite tyre makers from the subcontinent to the tyre halls in a bid to attract increasingly influential companies in addition to leading Chinese firms such as Hangzhou Zhongce, Shandong Linglong and Sailun.

8th June 2011/by Tyrepress Editors

xlite forged aluminium wheel brand rolls out worldwide

Leading forged aluminium wheel brand xlite has announced that it will become available worldwide due to an exclusive trademark agreement between its European distributor, Motor Wheel Service, and manufacturer Wheels India. Under the terms of the ten-year agreement between MWS and Wheels India, all of the forged aluminium wheels produced by the manufacturer will feature xlite branding on the products, boxes and cleaning kits, creating a global standard for the end user.

6th June 2011/by Tyrepress Editors

Corghi looking to expand into Brazil and China

In pursuit of the Italian garage equipment brand’s international intentions, Corghi has released details of the development strategy the firm is pursuing. According to Corghi representatives, the plan centres on so-called BRIC markets (Brazil, Russia, India and China) as the main guideline for growth. And for this reason the company reports it is making “significant investment in both the manufacturing and commercial side” of the business, investments that are said to be “already starting to bear fruit.”

1st June 2011/by Tyrepress Editors

Apollo opens first CV service centre

Apollo Tyres has opened what it says is “India’s first full-service commercial vehicle tyre outlet.” Located on the outskirts of Delhi, the first Apollo CV Zone was inaugurated by company chairman Onkar S Kanwar on May 30; the tyre maker now plans to establish a network of outlets across India.

30th May 2011/by Tyrepress Editors

Rubber plantation acquisitions a possibility for Apollo

Management at Apollo Tyres are considering the purchase of rubber plantations as a potential means of countering ever increasing rubber prices. On May 27, the tyre maker’s vice-chairman and managing director Neeraj Kanwar told Indian publication The Economic Times that “as far as buying rubber plantations, or for that matter any kind of backward integration, is concerned, we are always open to possibilities depending upon the need of the hour.”

27th May 2011/by Tyrepress Editors

Material costs squeeze JK Tyre 2011 profits

Reporting on the financial year that ended March 31, 2011, JK Tyre & Industries Ltd. notes that the selling price increases implemented for its products were unable to keep pace with raw material cost increases, and this adversely impacted upon the company’s margins. Therefore, despite a 30.9 per cent increase in net sales to Rs 59,454.4 million (£806.9 million), the Indian tyre maker’s before profit tax dropped 64.2 per cent to Rs 1,119.6 million (£15.2 million) and net profit declined 71.5 per cent to Rs 625.5 million (£8.5 million). Revenue from the company’s operations in India accounted for 80.0 per cent of total net sales and the former Tornel facilities in Mexico the remaining Rs 11,343.5 million.

26th May 2011/by Tyrepress Editors

Indian trucking organisation threatens Apollo boycott

Indian media sources report that the All India Motor Transport Congress (AIMTC), an organisation said to represent around seven million trucks, has announced plans to cut supplies of raw materials to Apollo Tyres’ factories in Tamil Nadu, Kerala and Gujarat. On top of this, the AIMTC apparently intends to block the supply of Apollo products to the market. The reason for this action is said to be discontent with the price increases Apollo has implemented in recent times, and other tyre makers are also under threat of boycott.

25th May 2011/by Tyrepress Editors

MRF factory No. 7 to enter production by year’s end

Production at MRF Tyres’ seventh factory in India is expected to begin in the coming months. At the opening of a company sales and service outlet in the city of Kolkata, MRF deputy general manager Rajat K. Nangia commented that operations at the Rs 9 billion (£121 million) truck tyre and passenger car radial plant in Thiruchirapalli, Tamil Nadu state would commence before the end of the year. Nangia also reported on the tyre maker’s intention to raise US$110 million through the sale of ten year bonds; Nangia said the bond sale process is already underway and a portion of the funds raised will be utilised to increase capacity expansion in each of the company’s factories.

23rd May 2011/by Tyrepress Editors

Michelin India to supply own market needs by 2015

By 2015, Michelin aims to supply 100 per cent of its truck and bus tyre market in India from its plant currently under construction near Chennai. The facility, being built on a 300-acre site in Thervoy Kandigai, is scheduled to enter production next year with an initial annual capacity of 300,000 truck and bus tyres.

20th May 2011/by Tyrepress Editors

Reliance Industries to build up rubber business

A new major player may be set to enter the global rubber industry: India’s Reliance Industries (RIL) intends to invest in building up a rubber business to meet growing demand in Asia. "We are developing a whole new rubber business,” company chairman Mukesh Ambani told India’s Economic Times. “We will make RIL one of the world's largest players in rubber as the whole tyre industry moves to Asia. The big trend is that if you look at next ten years, the projections for automobile growth is all China, India and Asia focused." In total, RIL plans to invest some US$10 to $12 billion in its chemical business to strengthen the company’s portfolio in a number of sectors.

18th May 2011/by Tyrepress Editors

Conti to commence Russian PCR manufacture in Q4 2013

Continental has confirmed news first reported last year on its intention to erect a new factory in Russia. Alexander Lührs, head of media and press relations for the German manufacturer’s Passenger & Light Truck Tires division, told Tyres & Accessories that approximately 200 million euros will be invested in a greenfield plant initially capable of producing four million passenger car tyres a year. Production is expected to begin in the fourth quarter of 2013, Lührs added.

17th May 2011/by Tyrepress Editors

New Malaysia factory to meet Toyo's Asian demand

Construction on Toyo Tire & Rubber’s new factory in Malaysia is expected to begin this year and production in 2013. Japanese media organisation Nikkei reports the tyre maker will invest around 20 billion yen (£153 million) in a six million passenger car tyre per annum plant that will primarily meet demand in China, India and other emerging Asian markets. According to Nikkei the new plant, which complements the newly-acquired three million tyre per year Silverstone plant, will make Malaysia Toyo’s main Asian centre of production outside of Japan. By 2015, will produce 12.5 million units in Asia each year, Nikkei adds.

17th May 2011/by Tyrepress Editors

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