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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

Bekaert Opens India Technical Centre

On March 24 Bekaert held an opening ceremony for its new technical centre in India. Located near Pune in the state of Maharashtra, the centre is intended to provide the company’s customers in India with enhanced technical services in the form of product quality testing, technical assessments and related dedicated assistance.

30th March 2010/by Tyrepress Editors

Apollo Tyres Opens 150th Sales Office

Apollo Tyres has opened its 150th sales and marketing office in Tirunelveli, in the southern Indian state of Tamil Nadu. It is also Apollo Tyres’ 10th sales and marketing office in Tamil Nadu. The 149th office was in Etawah, Uttar Pradesh and the 148th in Begusarai, Bihar, opened in February and January this year. Since March 2009 Apollo Tyres has added 15 sales and distribution points to its network in India, something the company points to as being in keeping with the company’s “mantra” of being close to the customer.

17th March 2010/by Tyrepress Editors

Indian Tyre Manufacturer Shares Rise alongside Price Hikes

India’s major tyre manufacturers have seen their shares jump up to 4.9 per cent in value today amidst reports of price hikes across the four biggest domestic names. Bloomberg UTV reports that Apollo Tyres (up 4.9 per cent), CEAT (2.54), JK Tyre (2.32) and MRF (1.61) all saw their stock rise in value, following reports that CEAT is raising its prices by between two and five per cent, while Apollo and JK Tyre are to make a decision later on the size of their price increases.

16th March 2010/by Tyrepress Editors

Michelin: “The Crisis has not Called our Strategic Goals into Question”

It is now about a year and a half since the wider economic downturn began to have an effect on the automotive and tyre industries, and companies have had ample time to consider their responses. Upon the release of Michelin’s 2009 financial report in March, managing partner Michel Rollier spoke on the measures taken by the French manufacturer to counter the global crisis.

15th March 2010/by Tyrepress Editors

China Market Growth Three Times Global Average

An estimate given by Sumitomo Rubber Industries suggests that sales of tyres in China will increase at three times the global rate. Bloomberg reports company president Tetsuji Mino as saying sales will increase about ten per cent per annum from just under 150 million tyres in 2009, compared with a global growth of three per cent. “We are sure that China is the most promising market,” Mino said. “Car ownership is spreading from wealthy people to ordinary consumers.”

15th March 2010/by Tyrepress Editors

Apollo Tyres Campaigns for Road Safety in Iran

Apollo Tyres launched its Safe Drive campaign in the capital city of Tehran recently. The initiative seeks to improve safety by educating drivers and owners on various aspects of tyre care and maintenance – including inflation pressure and tread-wear checks. Members of Apollo’s International Sales team, along with Apollo’s business partners conducted tyre checks at petrol pumps on major highways for two days. The company hopes that this contact with ordinary customers will ensure safer driving on the highways, during the Iranian New Year celebrations, when families enjoy undertaking road trips.

Apollo Tyres’ products have been available in Iran for the last few years. To fulfill growing customer requirements, Apollo is planning to introduce its truck-bus radial range in Iran later this year. However, the company exports primarily truck and bus cross ply tyres and passenger car radial tyres to Iran from India. The acceptance of Apollo products is clear in the "manifold growth" the company has witnessed in its sales of both passenger and truck-bus tyres in the last three years.

12th March 2010/by Tyrepress Editors

Little Difference between F1 Tyre Compounds; Rosberg Scores Quickest Lap

Hirohide Hamashima, Bridgestone director of Motorsport Tyre Development, was satisfied that the company’s Formula One Potenza tyres were meeting the required standard after the second practice session was dominated by quick times from Mercedes GP and McLaren drivers, most notably Nico Rosberg. The expected searing heat of Bahrain presented a significant challenge to the tyre supplier, being “the first time that teams have run in hot weather with the 2010 Bridgestone Potenza tyres,” according to Hamashima. Rosberg’s achievement was particularly startling, given that his fastest lap approached half a second faster than former champions Lewis Hamilton and teammate Michael Schumacher, who also showed impressive speed. Defending champion Jenson Button was fourth fastest.

12th March 2010/by Tyrepress Editors

Conti’s Tyre Plant the Key to Brazilian Market

The Brazilian tyre market is one of the world’s largest and due to its growth has been counted amongst the most important emerging markets, the so-called BRIC countries (Brazil, Russia, India and China), for a number of years now. For the last five years German manufacturer Continental has produced tyres in Brazil and during this time – despite long-established and powerful competition – has built up a solid business there. While Continental sees itself as well positioned in Brazil’s replacement tyre market and already holds a four to eight per cent market share, when Tyres & Accessories visited Continental’s tyre factory in Camaçari, Brazil, we learned that the company now intends to further establish its deliveries to OEM customers.

11th March 2010/by Tyrepress Editors