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Alliance ‘Well Placed’ for Global Growth

Between establishing a new factory in India and acquiring assets from GPX in North America, the Alliance Tire Group (ATG) has been busy in the last couple of years. And in terms of new products, this momentum is continuing. At the Reifen 2010 show Tyres & Accessories learned the company originally intended to bring along all the new tyres it’d released in the previous four months. “But then we realised there’d would have been no space on our stand for anything but tyres,” said an Alliance representative. “Our range is growing very fast.”

2nd July 2010/by Tyrepress Editors

Lanxess Boosting Butyl Rubber Capacity in Belgium

Production capacity at Lanxess’ butyl rubber facility in Zwijndrecht, Belgium is to be expanded by ten per cent to meet growing global demand for butyl and halobutyl synthetic rubber. The company has announced its intention to invest 20 million euros to lift annual capacity by 14,000 tonnes to around 149,000 tonnes, with the required work being mainly undertaken during a scheduled plant turnaround in the third quarter of 2011. The changes necessary to accommodate this higher capacity are anticipated to be in place and completed in the second quarter of 2012, and Lanxess comments the plant will produce a “superior quality” of butyl rubber.

28th June 2010/by Tyrepress Editors

Apollo Does “Good Business” with Vredestein – Purchase Price Revealed

It is not just Apollo Vredestein CEO Rob Oudshoorn that considers Apollo Tyres’ acquisition of the Dutch tyre maker to have been “good business”.

25th June 2010/by Tyrepress Editors

Apollo Shares up Following Lockout Reassurance

Following news of the lockout at Apollo’s Kerala, India-based facility, shares in the company fell by around six per cent, but management reassurances that the company would make up the production deficit elsewhere and 85 per cent of the Perambra workforce wanted to return to work have pushed share prices to levels experienced prior to the lockout, according to financial news sources.

23rd June 2010/by Tyrepress Editors

Dunlop Nigeria Seeks Government Bailout, Buyers for Equipment

The company formerly known as Dunlop Nigeria, now known as DN Tyre and Rubber Plc, is looking an increasingly unlikely candidate for reopening its tyre manufacturing plant – shut since December 2008 – with a request for a governmental intervention fund of 10 billion naira as yet unheeded and the company searching buyers for its “multi-billion naira” manufacturing equipment.

22nd June 2010/by Tyrepress Editors

Plane Tyre Bursts On Landing

In India, the passengers of a Delhi-Srinagar IndiGo flight had a lucky escape when a tyre on the plane burst during its landing at Srinagar airport. The IndiGo airlines flight No.6E had 160 passengers on board and a major tragedy was averted when the pilots were able to land the flight safely. Airport officials said the IndiGo return flight from Srinagar to Delhi would take off only after extensive technical checks had ensured the plane's airworthiness.

22nd June 2010/by Tyrepress Editors

BKT, Elgi Rubber and Omni United Commit to Inaugural Tyrexpo India 2011

The first major exhibitors at the first Tyrexpo India in Chennai on 5-7 July 2011 have been announced. Exhibition organiser ECI International states that Balkrishna Tyres (BKT), Elgi Rubber and Omni United have become the first major companies to commit to supporting the inaugural staging of the new tyre and equipment exhibition. ECI says the ground-breaking event reflects India’s fast-growing importance and influence in the global tyre, rubber and equipment market.

22nd June 2010/by Tyrepress Editors

Apollo Issues Statement on Perambra Lockout

The lockout at Apollo Tyres’ Perambra factory in India’s Kerala state is now in its second week, and the company’s chief of India Operations, Satish Sharma, has released an official statement broaching the issue:

21st June 2010/by Tyrepress Editors

Goodyear India Delisting Offer Fails

Goodyear India Ltd. shares remain listed on the Bombay stock exchange following a failed delisting offer from parent company Goodyear Tire & Rubber. The US tyre maker made an offer to acquire close to six million shares in the Indian company, a figure representing 26 per cent of its equity capital. However it only received bids for around 1.136 million shares at a discovered price of Rs 340 (₤4.96) each. According to the Bombay Stock Exchange’s delisting regulations, the delisting offer would have only been considered successful if at least 3.69 million shares had been tended at or below the discovered price.

18th June 2010/by Tyrepress Editors

Shandong Linglong Exports up 56% in Q1, 2010

Shandong Linglong reports that despite import restrictions upon Chinese tyres in a number of markets including the US, Argentina and India, the company has relied upon a “flexible marketing strategy” and introduced new products to counter any resulting downturn. And the company’s approach appears to be working – according to Shandong Linglong, between January and April 2010 the total amount of foreign exchange it earned through exports has grown 56.47 per cent year-on-year. This is, the company states, a sufficient amount to have enabled it to already realise its 2010 export target.

17th June 2010/by Tyrepress Editors

Apollo Shares Drop Following Lock-Out

Shares in Apollo Tyres Ltd have fallen around five per cent since the announcement of a lockout at its Perambra factory. This plant accounts for nearly a quarter of Apollo’s global tyre production and has a capacity of 850 tonnes per day, yet even before the lockout it was not reaching anything near this amount – and it is thus not surprising that investors are showing signs of nervousness.

17th June 2010/by Tyrepress Editors

Ruia Group Plans Greenfield Project, Production Increases

Ruia Group company Falcon Tyres is to establish a new factory in Uttaranchal state, in Northern India, a move accompanied by an increase in production in the company’s Mysore factory. Group chairman told reporters after the company’s 83rd Annual General Meeting on June 15 that “following the establishment of the new plant about 30 km from Haridwar in Uttaranchal, and upgrading the capacity of [the] Falcon Tyres Mysore plant, the total production for two-three wheeler tyres would go up from the present 150,000 units a month to over 230,000 pieces.”

16th June 2010/by Tyrepress Editors

Apollo Tyres Commences Lockout at Perambra Factory

In June 11 filing to the Bombay Stock Exchange, Apollo Tyres has reported the initiation of a lockout at its Perambra factory in Kerala. “With reference to the earlier announcement dated April 29, 2010, Apollo Tyres Ltd has now informed BSE that the management has declared Lock-out at company's manufacturing facility at Perambra,” stated the filing, quoting “labour unrest relating to long term settlement negotiations” as the reason for its action.

14th June 2010/by Tyrepress Editors

Michelin to Double PCR & LTR Capacity in Growing Markets by 2012

At an Exane BNP Paribas seminar on June 11, Michelin outlined its intention to double passenger car and light truck tyre capacity in growth regions by 2012 and to increased truck tyre capacity by 40 per cent within this timeframe. This growth will in part be facilitated by the construction of three greenfield plants – a new US$800 million truck tyre facility in India, an $800 million passenger car and truck tyre factory in China, and a passenger car tyre facility in Brazil. All three plants are anticipated to enter production in 2012.

14th June 2010/by Tyrepress Editors

Apollo in Talks to Supply VW in Europe

Apollo Tyres has confirmed that its OE arrangements with Volkswagen may be extended into the European market. Addressing journalists in Cologne, Germany, Neeraj Kanwar stated “only recently, five years ago, we went into the OE segment in India. Today in India we supply to all the top automotive industry. Recently we’ve gone into VW, supplying them tyres for the cars that they’re launching in India, and we are in discussions with them to supply tyres to them in Europe.”

9th June 2010/by Tyrepress Editors