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TGI Releases Statement on ITC Ruling

Tire Group International (TGI) has released a statement outlining a USA based exporter’s point of view” towards the International Trade Commission (ITC) ruling on imported Chinese passenger car and light commercial vehicle tyres. In this statement, TGI indicates it will continue to fight the ITC ruling and says that, after meeting with several state representatives, senators, and following phone conversations with the assistant secretary of Import Administration, the company is able to “shed light on the effect this ruling will have on re-exporters” such as itself.

13th August 2009/by Tyrepress Editors

JK Tyre to Set up in Tamil Nadu?

India’s Economic Times reports that New Delhi-based JK Tyre could be on the verge of making a deal to install a radial car tyre plant in Tamil Nadu, having met with regional government representatives.

13th August 2009/by Tyrepress Editors

Tyre Exports From India Dip by a Quarter

Despite recovering domestic market sales, export markets gave India’s tyre manufacturers little cause for joy in the first two months of the country’s current financial year. During April and May sales in this higher margin market segment were down a whole 25.3 per cent.

11th August 2009/by Tyrepress Editors

Ruia Group Toys with European Acquisitions

The lights may still be out and the machinery standing idle at Dunlop India’s Sahaganj factory, but this isn’t stopping parent company the Ruia Group from eyeing up new acquisitions further afield. The Indian conglomerate is reportedly in “an advanced stage of talks” regarding the purchase of a European sealing systems company.

6th August 2009/by Tyrepress Editors

Forged Qualifications of Tyre “Professionals” Uncovered

Fancy a promising career in the tyre world without the hassle of buckling down at your studies? Don’t fret, where there’s a will, there’s a way. But before you decide to embark on a “fake it till you make it” approach to your newly chosen profession, consider the tale of two hopeful tyre industry specialists in India.

6th August 2009/by Tyrepress Editors

Dunlop India May Close Factory if Power Not Reconnected

The supply of electricity to Dunlop India’s factory in Sahaganj is still disconnected, and company chairman Pawan Kumar Ruia has threatened to close the plant if the power is not restored during the first half of August. The chairman indicates that Dunlop India is ready to resolve the matter with the West Bengal State Electricity Distribution Company out of court.

The factory’s electricity supply was severed earlier in the year due to the non-payment of dues amounting to Rs 130 million (£1.66 million), and the company claims responsibility for this lies with the previous owner. “The electricity dues got accumulated much before we took over the company. We do not know why the electricity connection was not disconnected when the dues remained unpaid for five years before we took-over. We heard lot of people ran business taking illegal connection from Sahaganj unit,” Ruia stated.

27th July 2009/by Tyrepress Editors

Carbon Black Shortage Creating Headaches in India

The New Indian Express newspaper has reported a “severe crisis” looming over India’s tyre and tread rubber manufacturers. According to the newspaper, carbon black supplies are critically low and the four major Indian manufacturers of the substance lack the capacity to meet domestic market demand. This problem is compounded by allegations that India’s Ministry of Commerce is preventing the importation of carbon black to compensate for this shortfall.

A number of factories are said to have been idled as a result of this shortage, which The New Indian Express attributes to a Ministry of Commerce decision to restrict carbon black imports if the landed cost is less than RS 80 (£1.00) per kilogram, markedly more than the current Indian price.

24th July 2009/by Tyrepress Editors

Apollo Chairman Speaks on ‘Signs of Revival’

While addressing shareholders at the Apollo Tyres Annual General Meeting, company chairman Onkar S Kanwar expounded upon what Apollo has gained and learned in the past year. His topic, titled ‘Navigating a Slowdown’, centred upon the company’s business model, which according to Kanwar has enabled Apollo to remain afloat during the recent slowdown.

This business model, Kanwar explained, covers Apollo’s three main principles: domestic markets, cost and quality initiatives. Sticking to this tried and tested business model has paid dividends during the past twelve months, he added. “Last year’s crisis has allowed your company the opportunity to break structures and behaviours that sap productivity and effectiveness out of organisations. It has allowed your company to realign itself to a new reality.

23rd July 2009/by Tyrepress Editors

Apollo Net Sales Up 24% in Q1

The unaudited Apollo Tyres results for the first quarter of the 2009-10 financial year, announced on July 23, show an overall year-on-year 24 per cent growth in revenues to Rs 16.3 billion (£204.8 million). Operations within India alone generated sales of Rs 11.8 billion (£148.3 million). Earlier in the day, shareholders approved an annual dividend payout of 45 per cent per share for the year ended March 31, 2009.

“Your company’s continuing attention to increasing efficiencies across the board and re-aligning costs to protect margins have paid high dividends,” commented Apollo Tyres chairman Onkar S Kanwar. “This has assisted us in improving margins and enabled your company to remain competitive.”

23rd July 2009/by Tyrepress Editors

Falcon Tyres Divesting to Remain Listed

A chunk of Ruia Group company Falcon Tyres will be sold in order to increase ouput at its factory in Mysore, eastern India, and to ensure its promoters shareholder remains below the 75 per cent required to stay listed on the Bombay Stock Exchange. The share, according to Indian media, is to be sold to a private equity firm for Rs 1 billion (£12.6 million).

“We are in the process of preparing our presentation and hope to be through with the placement within the next two months,” Falcon Tyres chairman Pawan Kumar Ruia told the Hindu Business Line. Ruia reports that the promoters’ share in the company went up to 86 per cent following the recently concluded open offer requiring either a public issue or private placement.

23rd July 2009/by Tyrepress Editors

CITExpo 2009: Tiremart Hoping Visit will Bring “Good Luck”

Tiremart (Qingdao) set up in the year of 2000 in the CBD of Qingdao, China. Its specialises in exporting TBR, PCR, OTR, agricultural, motorcycle tyres, as well as tubes, flaps and rims to more than 50 countries in the world, with its main markets in the Middle East, India, South Asia, Africa and South America. It reports that its annual turnover reaches over $30 million.

The company sells factory brands in addition to its own brand, Maxim. Currently, the Maxim brand includes an OTR series, rims, and TBR 1000R20 with an Indian market pattern. Tiremart says that it plans to develop and promote the brand further in the near future. It also states that the OEM tyre business makes up 40 per cent in our sales volume.

As for its presence at CITExpo, the company states, “We would like to meet old and more new customers. We hope CITExpo this year will bring us good luck and will help us to make another big success in near future.”

22nd July 2009/by Tyrepress Editors

Idled Dunlop India Workers Declare Hunger Strike

Operations at Dunlop India’s Sahagunj facility have remained idle since last November, and in an attempt to coerce company management to resume production some fifty employees and their families commenced a hunger strike on July 16.

“Fifty workers will continue the relay hunger strike till July 20. From July 22 the workers, accompanied by their family members, will go on a fast unto death. Our demand is that the plant has to be opened and production started immediately,” spokesperson Bidyut Raut said.

16th July 2009/by Tyrepress Editors

Infinity to Launch UHP tyre range at Tyrexpo Africa 2010

Tyrecor is planning to launch a new range of Infinity UHP tyres into the South African market at Tyrepxo Africa next year. Confirming the news, managing director Charl de Villiers said: “Infinity will be launching an exciting new range of products into the Southern African market at the show next March, which will include Ultra High Performance tyres up to and including 21 inches in V and W speed ratings. The Infinity brand already enjoys a large following in Europe and other parts of the world and we have received numerous requests from our dealer base to expand our current range. “We feel that Tyrexpo Africa is the ideal platform to launch this range due to the exposure it offers exhibitors,” he said.

By mid-July, floor space for TyrexpoAfrica’10 was more than 55 per cent occupied and on track to meet targets set by organiser ECI International. There is a current balance of 40 per cent national to 60 per cent international companies exhibiting, with strong representation from China, India, south east Asia, Europe and the US.

15th July 2009/by Tyrepress Editors

Century Textiles Resumes Rayon Tyre Yarn Production

Following a half-year pause, India’s Century Textiles & Industries Ltd has resumed the production of rayon tyre yarn at its factory in Kalyan, Maharashtra state. Production had been suspended in February due to market conditions, and the decision to resume production on July 1 means that overall annual production capacity will fall about 12 per cent, as opposed to the previously estimated 25 per cent. The company states, however, that ongoing market conditions may necessitate further decisions being taken.

14th July 2009/by Tyrepress Editors

Apollo Tyres Launches Refreshed Website

During the first quarter of 2009, Apollo Tyres launched its new corporate identity across its operations. Now it’s the turn of its website to don the new look and colours. Apollo has moved away from the earlier usage of black and red to the vibrancy of purple and orange, moderated by shades of grey – colours and usage, which no other tyre company has, and only a few companies across the world dare to incorporate. The colours have allowed Apollo, it says, to bring to the fore its “internal reality of youthfulness and dynamism”.

14th July 2009/by Tyrepress Editors