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East Europe Plans Affected by Apollo Capex Reduction

According to Apollo Tyres vice-chairman and joint managing director Neeraj Kanwar, the company has reduced its capital expenditure plans for the next two years from Rs 30 billion (£414 million) to Rs10.5 billion (£145 million) due to the global economic slowdown. Part of this reduction involves placing the company’s Eastern Europe capex plans on hold.

In a February 25 interview on Indian business television channel NDTV profit, which was later reported by Reuters, Kanwar said “Our capex has come down from 3,000 crores (30 billion rupees) that we were planning to spend in the next 2 years to 1,050 crores (10.5 billion rupees) which we were planning to spend in India.”

25th February 2009/by Tyrepress Editors

Lockout Declared at MRF’s Puducherry Factory

Indian manufacturer MRF has declared a lockout at its Puducherry plant in Southeast India following what has been described as ‘labour unrest’. The company has been facing such problems at its other facilities for more than a year, most dramatically seen when its Tiruvottiyur plant, near Chennai experienced a lockout in late 2007 and early 2008. At this time, the Tamil Nadu state government, its patience tested, beseeched the company to resolve its differences with employees – and threatened to take over the factory if it failed to do so.

Company officials have not yet commented on the latest developments.

23rd February 2009/by Tyrepress Editors

Chinese Tyre Brands Target UK Buyers at Brityrex09

Chinese tyre manufacturers and wholesalers are targeting the UK market for increased export sales, with a growing number of exhibitors taking advantage of the opportunities presented by September’s Brityrex exhibition in Manchester. In the past month, a large number of Chinese suppliers have confirmed their involvement with the show as producers seek expanded international business to offset reduced domestic demand. Among companies now signed-up are Koryo Tyres industrial, Long March, Qingdao Odyking Tyre Company, Shandong Wanda Boto Tyre, Star Tyre Group of Shanghai and Techking Tires.

“We are taking more enquiries and bookings from China than any other country apart from the UK at the present time,” explains Paul Farrant of show organiser ECI International. “China has such massive production capacity that it needs to sell more product overseas to compensate for lower demand at home. Brityrex is seen as a gateway to the UK market which is why exhibitors are so keen to get involved in the show.”

23rd February 2009/by Tyrepress Editors

India’s Birla Temporarily Shut Orissa Plant Again

Indian news sources are reporting that Birla Tyres – part of the BK Birla Group’s company Kesoram Industries – has closed its plant in Orissa temporarily for the second half of February. The current slide in the market has been blamed for necessitating the measure. The closure follows similar action in the back end of January 2009, as reported on Tyrepress.com. More than 4,000 people work at the plant, which has a capacity of 1.5 million units per year. It produces tyres, tubes and flaps.

16th February 2009/by Tyrepress Editors

“Export Markets an Integral Part of Our Business” – Apollo’s Kanwar

In these froward economic times, it is difficult to make plans. Apollo Tyres, however, appears to be pressing ahead with its inroads into European markets. The company’s chairman and managing director Onkar Singh Kanwar recently spoke to India’s largest financial daily, The Economic Times, and explained why exports are so important for Apollo at present.

“The passenger car segment (in India) has been badly impacted,” related Kanwar. “As car sales have plummeted, tyre sales have also gone down proportionally. Apollo Tyres however has managed to maintain a growth of 22 per cent despite the overall scenario, as exports have helped in tiding over this period so far.” He added that, in this most recent financial quarter, exports grew by 37 per cent year-on-year.

12th February 2009/by Tyrepress Editors

Apollo Targets 10% Domestic Alloys Market

Leading Indian manufacturer Apollo Tyres has launched a range of alloy wheels under the brand name Acelere Wheelz to be sold through its passenger car tyre dealers in Dehli, Bangalore, Chennai and other major cities. At the launch, the company stated that it was “confident of capturing between 7 per cent to 10 per cent of the alloy wheels market in India,” and that it plans to release a new collection of rims every six months.

You don’t have to be an osteopath to realise that the company is adding muscle to the existing bones of its tyre business, but to underline the point Apollo plans to make Acelere Wheelz available in “combo” offers with the company’s Acelere, Acelere Sports, Aspire and Hawkz passenger car tyres. At present, the Indian alloy wheels market stands at an estimated figure of around 90,000 per month, of which 40 per cent is aftermarket, says Apollo. As yet, only 15 per cent of these come from the organised sector, with the rest imported.

10th February 2009/by Tyrepress Editors

China Expresses Concern Over India Investigations

The Chinese Ministry of Commerce has voiced “deep concern” over the Indian government’s trade investigations into and import restrictions upon Chinese products. On February 9 Ministry spokesman Yao Jian stated that vice commerce minister Zhong Shan had expressed China’s concern to India’s Ambassador to China, Nirupama Rao, during a recent meeting held at China’s request. Mr. Zhong told Ms Rao that China hopes to bring the trade disputes to an end through government and industry level communication and exchange between the two countries.

9th February 2009/by Tyrepress Editors

Apollo Tyres Launches New Alloy Wheel Range

Apollo Tyres has launched its new alloy wheel brand, Acelere Wheelz. The first products in the range, the ‘Fall-Winter’ collection, are already available through tyre dealerships across India. Apollo Tyres says that a new collection will be introduced onto the Indian market every six months, in line with its concept of the wheels as fashion accessories. The company comments that the Acelere Wheelz range is a ‘natural extension’ to its tyre range.

9th February 2009/by Tyrepress Editors

BKT Bringing New OTR, Forestry Ranges to Tyrexpo Asia

BKT is the flagship business of India’s Siyaram Poddar Group, an organisation with a turnover in excess of US$ 550 million. In the 2007/08 financial year BKT itself enjoyed sales of more than $250 million, and the company has set itself an impressive goal – “Our vision is to obtain global leadership in off highway tyre solutions,” Arvind Poddar – vice chairman and managing director, Siyaram Poddar Group, told Tyres & Accessories.

5th February 2009/by Tyrepress Editors

Net Loss for Ceat in Last Quarter

India’s Ceat Ltd has reported a net loss for the quarter year to December 21, 2008. According to the tyre maker, losses for the period amounted to Rs 216.4 million (£3.1 million). During the corresponding quarter of 2007 the company posted a net profit of Rs 192.3 million (£2.7 million).

A net loss was recorded despite an increase in quarterly sales. In a filing with the Bombay Stock Exchange, Ceat reported company earnings rising from Rs 5.69 billion (£80.4 million) in the final three months of 2007 to Rs 5.93 (£83.8 million) billion last year.

2nd February 2009/by Tyrepress Editors

The 3rd Azerbaijan International Spare Parts, Accessories and Service Equipment Exhibition

The Autoparts Exhibition has become an important meeting place for the representatives of the automobile industry for exchanging information and experiences. AutoParts 2009 will present automobile parts, engines and mechanics, accumulators, electric equipment and electronics, gearboxes, exhaust systems, steering control, break systems, suspensions, automobile accessories, audiosystems, technical maintenance of automobiles, production equipment and tuning. The AutoParts exhibition is intended for exhibitors who supply materials, equipment and services for the automobile industry and automobile operation. Iteca Caspian LLC and the ITE Group are the organisers of the exhibition and The Ministry of Transport of Azerbaijan, Head Office of State Road Police and Azerbaijan Export and Investment Promotion Foundation offer official support. For the first time there will also be a wide range of tyres from the world’s leading manufacturers and automobile car-washers for commercial transport at the exhibition.

Over 50 leading brands from European and Asian countries have confirmed their participation in the exhibition so far. Companies from Japan, Italy, Germany, Turkey, UAE, Iran, China, India, Russia, Belarus and Finland have confirmed their participation.

Both the Azerbaijan automobile market and the AutoParts exhibition are increasing in size. The demand for spare parts and accessories from different manufacturing countries is not only based on local repairs, but also for buses, agricultural machinery and company cars and the many companies and entrepreneurs that are involved in the Azerbaijan automobile business. The AutoParts 2009 exhibition provides an opportunity to demonstrate and promote products from global manufacturers for repair and maintenance of automobile. AutoParts 2009 will also present the possibility to increase international contacts, sign contracts and demonstrate to visitors new products available within the Caspian market.

Companies who may be interested in exhibiting or attending this show please contact:-

Babek Amashov
Project Manager
ITE Group Plc / Iteca Caspian LLC
Baku, Azerbaijan
Tel: + 994 12 4474774
Fax: + 994 12 4478558
Mob: + 994 55 348 80 55
E-mail: auto@iteca.az
www.autoparts.iteca.az

2nd February 2009/by Tyrepress Editors

Foundation Stone Laid at New Ceat Plant

The foundation stone for Ceat Ltd’s planned new facility in Gujarat, India has officially been laid. The honour of laying the stone went to Gujarat state chief minister Narendra Modi, who was present at the site in Halol along with RPG Enterprises chairman Harsh Goenka, Ceat managing director Paras K Chowdhary and Ceat vice president (sales and marketing) Arnab Banerjee. The greenfield project, when it enters its first phase of operation, will employ more than 1,000 workers.

27th January 2009/by Tyrepress Editors

Kesoram Industries Rords Drop in Net Profit

Indian tyre manufacturer, Kesoram Industries has carded a 63.55 per cent reduction in net profit over the final quarter of 2008, finishing at 391.5 million rupees (5.8 million pounds sterling). The company has declared a suspension of work between 17 and 31 January to deal with the general market stagnation, an action first taken between 17 and 31 December , 2008, reports India’s Business Standard.

26th January 2009/by Tyrepress Editors

JK Tyre Posts Fourth Quarter Loss

Despite increased sales in 2008, JK Tyre’s fourth quarter results reveal a net loss for the quarter and reduced profits through the entire financial year. The company reports net sales of Rs 40,524.8 million (£591.4 million) during the 12 months to December 31, 2008, up 43.9 per cent on the 2007 yearly result. During the fourth quarter net sales were Rs 7,798.2 million (£113.8 million), a more muted 6.9 per cent increase on the fourth quarter of the previous year.

23rd January 2009/by Tyrepress Editors

New MD, GM at Apollo’s Zimbabwe Operation

Two new senior appointments have been made at the Apollo Tyres’ owned companies Dunlop Zimbabwe and National Tyre Services (NTS). In a statement, Dunlop Tyres Group chief executive officer, Dr. Luis Ceneviz, said Mr. Kennedy Mandevani, who is currently Dunlop Zimbabwe managing director, will assume the position of group managing director for National Tyre Services. Mandevani’s portfolio will cover both NTS and Dunlop, said Ceneviz.

21st January 2009/by Tyrepress Editors