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Michelin Looks to Increasing Sales, Expects Demand Increase

Michelin has released its first quarter financial report with the figure of 3.9 billion euros in net sales (representing an increase of 12.2 per cent) riding high on its statement. The manufacturer has seen a decent return to favourable comparatives a year after the depth of the financial crisis dominated most balance sheets, though European original equipment truck sales were a notable exception, down 1.2 per cent (including figures for Russia and Turkey. In comparison, year-on-year change in the segment in all other regions was up, most spectacularly in South America (up 56.9 per cent) and Asia (up 24.2 per cent). The European passenger car and light truck OE segment was much stronger, with 30.2 per cent rises in net sales.

30th April 2010/by Tyrepress Editors

Bridgestone Holds G-MEC Opening Ceremony

On April 28 Bridgestone held an opening ceremony for its Global Manufacturing Education Center (G-MEC) in the Bridgestone G-MEC Building, a training building established in Kodaira City, Tokyo. The ceremony, held at the newly opened G-MEC Building, marked the official launch of the new G-MEC training and education programme.

28th April 2010/by Tyrepress Editors

Omni United Has European Markets on its Radar

Omni United, one of Singapore’s fastest growing tyre companies is aiming to use its presence at Reifen 2010 (Hall 2-06) to extend the reach of its Radar brand into Europe. Omni reports that it will be seeking new customers and will also be launching its new passenger, light truck, SUV and the UHP lines into the European market at the show. The company manufactures the Radar brand in Indonesia, India and China. Omni says it aims to ensure products reach their destinations on time, every-time with advanced supply chain management systems.

27th April 2010/by Tyrepress Editors

Bridgestone India Raises Output, Implements 3.5% Price Hike

Bridgestone has said that it will produce 1,500 more tyres per day and raise the price of its tyres by 3.5 per cent in India, according to a newswire issued by Dow Jones. The rise comes on the back of increased raw materials prices, Bridgestone India general manager of sales and marketing, Vaibhav Saraf told the assembled throng at a news conference, Dow Jones NewsPlus reports.

26th April 2010/by Tyrepress Editors

IFC to Invest in Apollo Greenfield Plant

The International Finance Corporation has agreed to partially finance Apollo Tyres’ new greenfield facility in Tamil Nadu, India. On April 22 the World Bank organisation stated that, pending the consent of its Board on May 26, it will furnish Apollo with a financial package of US$60 million. Phase 1 of the plant, located in Oragadam near Chennai, is nearing completion, and the commercial production of tyres there began in the first week of March 2010.

26th April 2010/by Tyrepress Editors

Indian Manufacturers Announce Price Increases

Indian tyre makers are putting up prices in response to the continued rise in the cost of natural rubber. Apollo Tyres is said to be increasing prices by between two and four per cent, although one online source states the Apollo prices will rise by up to seven per cent as early as May. During an interview, company vice chairman and managing director Neeraj Kanwar said further increases cannot be ruled out should the cost of rubber continue its upward course.

21st April 2010/by Tyrepress Editors

Al Saeedi Expands into Africa With Tyrexpress Operation

Al Saeedi Group, a leading Middle Eastern tyre distributor, has expanded its operations into Uganda. The UAE based company set up Tyrexpress (U) Ltd. on 13 April 2010. The company was inaugurated by Niraj Srivastava, High Commissioner of India in the presence of company directors, distinguished guests and customers.

19th April 2010/by Tyrepress Editors

Rubberking Anticipates Increased African Presence

Rubberking Tyres India reports a successful 2010 show: "Tyrexpo Africa has always been a good platform for us to establish and promote our tyre brand and product range to the African market,” stated Dipti Jambhekar, Rubberking’s senior executive of international sales. “Though the number of visitors appeared to be less than normal, we were able to generate some serious quality inquiries, revive our relations with old customers and network with our existing ones.

16th April 2010/by Tyrepress Editors

Amtel Founder Sells S$28 million House to Omni United Boss

Amtel Group founder Sudhir Gupta has reportedly sold a so-called “good quality bungalow” to Sareen Gajendra Singh who owns Omni United (S) Pte Ltd. According to local Business Times newspaper, the $28 million (Singapore dollar) sale of the property in the Binjai Park area of Singapore accounts for more than 5 per cent of total first quarter property sales in the “good quality bungalow” sector of the local market. The paper reports that this segment of the domestic property market recorded sales of S$500 million in the first quarter of 2010.

16th April 2010/by Tyrepress Editors

L&T and Mitsubishi in Heavy Tyre Joint Venture Reports

Engineering company Laursen & Toubro (L&T) and Japan-based Mitsibishi Heavy Industries (MHI) are reportedly planning to enter into a “heavy industrial tyre” joint venture in India. According to reports in India’s Business Standard, L&T has “initiated discussions with MHI to form a joint venture that would manufacture a wide range of heavy industrial tyres in the country.” Quoting a source close to the talks, the newspaper added: "This would bring in a good blend of high-technology from Japan and low-cost manufacturing from India. The JV would also help to create a great synergy in L&T's construction business."

15th April 2010/by Tyrepress Editors

Balkrishna Tyres – Defying the Slowdown

Balkrishna Industries Limited (BKT) specialises in the production of tyres for off-road applications, including agriculture, industry & construction, earthmoving equipment, ATV and lawn & garden vehicles. Tyres & Accessories had the opportunity to meet with the India based manufacturer during Tyrexpo Africa, and the company’s senior general manager for exports, Rajesh K Vyas, stated: "Last year was a significant one for BKT. When the whole business world was under severe stress due to the economic slowdown, we at BKT took this as a period of opportunities.

13th April 2010/by Tyrepress Editors

Guangdong Greatoo Expanding Mould Production

Despite the effects of the global recession, Guangdong Greatoo Molds Inc is planning to increase its Chinese mould making capacity to 5000 moulds and 3000 containers by the end of 2010, up 25 and 20 per cent respectively from current levels of 4000 moulds and 2500. In order to do this, the company is adding “lots of direct engraving machines in our new plant and these machines are state of the art thus reducing the machining time substantially” in addition to the firm’s existing plans for 200 hydraulic curing presses and CNC machines, according to company representatives.

8th April 2010/by Tyrepress Editors

MRF Comes Top In JD Power India OE Tyre Survey

Of the 3,874 drivers questioned in the latest J.D. Power Asia Pacific 2010 India Original Equipment Tire Customer Satisfaction Index (TCSI) Study, over 80 per cent who were highly satisfied with their original equipment tyres said they will purchase the same brand for their next set of tyres. Good news for tyremaker MRF, which came top of JD Power’s 10th annual study of this kind.

The study, which measures satisfaction among original equipment tyre owners during the first 12 to 24 months of ownership and is based on scores measured with a 1,000-point scale, found that customers who are highly satisfied are more than twice as likely as highly dissatisfied customers to recommend their original equipment tyre brand. It was fielded between May and August 2009.

6th April 2010/by Tyrepress Editors

Rubber Prices Reach Six-Decade High

Some Tyres & Accessories readers have accumulated sufficient birthdays to remember the year 1952, but the rest of you can well imagine the world of 58 years ago: Elizabeth becomes Queen, a ‘killer fog’ descends upon London, television continues to grow in popularity, the Korean War enters its third year – and the price of natural rubber hits US$3.50 a kilogram. Panic buying stemming from fear the aforementioned conflict would spread to neighbouring countries pushed prices to heights that would never again be reached. Until March 31, 2010, that is.

1st April 2010/by Tyrepress Editors

Bridgestone to Invest £357 million in Second Tyre Factory in India

Bridgestone Corporation has announced that its Indian subsidiary (Bridgestone India Private Ltd) is to invest 50 billion yen (£357 million; 401 million euros; US$539 million) in a second tyre production plant in the country. According to the company, the latest factory will be built near the city of Pune, Maharashtra State, 170 km southeast of Mumbai.

This new plant is slated to begin passenger car radial tyre (PCR) production and truck and bus radial tyre (TBR) in January 2013 and August 2013 respectively. The company is aiming for capacity 10,000 units per day (PCR) and 3,000 units per day (TBR) by 2020.

30th March 2010/by Tyrepress Editors