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Ceat Sri Lanka to Make Most of Lower Rubber Prices

Ceat Sri Lanka, the joint venture company established by Ceat India, Associated Motor Ways and Kelani Tyres, will take advantage of declining world rubber prices to strengthen its position in the local car and truck tyre market. The company’s managing director, Rohan Fernando, said that “the global financial crisis has reduced global tyre consumption. Therefore, international rubber prices have also come down in view of the current financial crisis during the last few months.” With cheaper prices for the material that accounts for 40 per cent of a tyre’s construction, Ceat’s production costs are expected to drop.

10th November 2008/by Tyrepress Editors

Modi Tyre Revives Technical JV With Continental

News published by various Indian media outlets indicates that joint venture activities between Continental Tyres and India’s Modi Tyre Company are again underway. The two companies have previously worked together, however this relationship ground to a halt with the closure of Modi’s Modinagar, Northern India plant in 2001, following labour unrest and litigations. Seven years on, Modi Tyre is said to have invested around Rs 3 billion (£39.6 million) to resume production at the site.

6th November 2008/by Tyrepress Editors

Indian Natural Rubber Production Rises

According to a senior Rubber Board official, India’s natural rubber production has risen 19.6 per cent during the first seven months of the 2008-2009 financial year, reports Reuters. The total output in this seven month period is 476,865 tonnes. At the same stage last year, the figure stood at 398,850 tonnes. India is the world’s fourth largest supplier of natural rubber, with peak season extending from September to February. Though this peak tapping period will see a drop off in the last two months of ‘08-’09, it is still predicted that 875,000 tonnes will be produced this year, 6 per cent up from last year’s figure of 825,000 tonnes.

Meanwhile, this rise in production has seen the country’s natural rubber trade deficit close – imports are down 7.3 per cent to 48,799 tonnes, whereas exports are up 80 per cent at 32,760 tonnes. According to the Reuters source, total stocks were at 144,450 tonnes at the end of August.

5th November 2008/by Tyrepress Editors

Indian Vehicle Manufacturers Revise OE Tyre Offtake Projections

It appears that the current auto industry woes are by no means restricted to North America and Europe. In India, the Hindu Business Line reports that major manufacturers of medium and heavy commercial vehicles have reduced their OE tyre offtake projections by about 40 to 50 per cent during the current financial quarter.

3rd November 2008/by Tyrepress Editors

1,100 Jobs to go in Tenneco Restructuring

Automotive emission control and ride control products manufacturer Tenneco Inc. is to restructure its global operations. In an announcement made on October 29, the company said it would further reduce structural costs and capacity in response to the worsening industry downturn. Approximately 1,100 jobs will be axed as a result of the restructuring and five facilities closed. In total Tenneco expects to generate around US$64 million in annual savings once all changes are fully implemented.

31st October 2008/by Tyrepress Editors

Truck Tyre Dumping Probe Begins in India

India’s Commerce Department has, according to national media, commenced an investigation into alleged dumping of Chinese and Thai made truck and bus radials in the Indian market. The decision to launch this investigation follows a complaint lodged by national tyre industry representative body, the Automotive Tyre Manufacturers Association (ATMA).

30th October 2008/by Tyrepress Editors

JK Tyre Reports September Quarter Losses

India’s JK Tyre showed a loss of 323.70 rupees (3.97 million pounds sterling; 1.00 GBP = 81.58 INR) for the quarter ending September 2008, the company has reported. The same quarter in 2007 yielded a profit of 243.9 million rupees. Meanwhile, net sales for the quarter rose 27.1 per cent on the same quarter last year, rising from 6.88 billion to 8.74 billion rupees. Shares in the company earned 10.05 rupees each, meaning that there was a growth of 26.89 per cent on the previous year, when earnings per share were at 7.92 rupees.

30th October 2008/by Tyrepress Editors

Indian Synthetic Rubber Production Drops

The Financial Express in India is reporting that synthetic rubber production has fallen in July 2008, compared to the month’s figures a year ago. Output has been measured at 8,186 tonnes, down from July ‘07’s figure of 8,256 tonnes.

In the period April-July, however, more synthetic rubber has been produced compared with the same period last year. 33,439 tonnes have come off the production line, compared with 32,748 tonnes in the same period last year. This 2.11 per cent rise has been matched synthetic imports in the period, jumping from 59,960 tonnes to 76,890. A similar pattern can be seen in the nationwide consumption of the product; the 93,715 tonnes demanded last year between April and July has risen this year to 100,045 tonnes.

28th October 2008/by Tyrepress Editors

Konstrukta Celebrates 15 Years in Tyre Machinery Manufacturing

International News, News, Product News

The Konstrukta Group has recently restructured organisationally from being one entity into five separate divisions in fields as diverse as explosives, mechanisation and automation, rubber and tyre manufacturing machinery and economics. Based in Trencin, Slovak Republic, the company has invested 1.6 million US dollars in the upgrading and development of its R&D centre for rubber technology. “The current pattern of consistent growth within rubber related industries demanded that we give ourselves every opportunity to make sure we were in a position to increase our market share,” said Jan Dugacek, managing director of the tyre machinery division.

The tyre division provides research, development, production and supplies of technological equipment for the tyre industry – extrusion lines for inner liner production, steel cord and textile cord cutting lines, auxiliary equipment and spare parts. The extrusion lines are designed for production of tyre components including treads and sidewalls for the manufacture of car, light truck, truck, bus agricultural and OTR tyres.

24th October 2008/by Tyrepress Editors

Apollo Quarter Results Reflect Tough Times for Industry

Upon reporting Apollo Tyres’ second quarter 2008 results, a quarter in which consolidated net profit dropped 74 per cent on the previous year, company chairman Onkar S Kanwar stated that, despite difficult times, Apollo retains a positive outlook for the future. “It has been a testing quarter for the company and us as an industry, but I do believe that the worst might be behind us and it’s time to plan for the future,” he said. “The positive that I take from here is a consistent growth in sales, especially in South Africa, where we are able to now reap the benefits of our manufacturing and marketing excellence with a near 30 per cent sales growth this quarter.”

23rd October 2008/by Tyrepress Editors

For Yinbao Tyre, imitation is the highest form of flattery

International News, News

Western European manufacturers’ complaints that their products have been copied in the Far East are well reported. However, Shandong Yinbao Group is one of a select few Chinese tyre manufacturers that have suffered product piracy too.

According to international marketing manager Gavin Liu, the Shouguang-based Yinbao Group recently discovered that its growing off-the-road (OTR) product range was being copied, with the pirates making use of the company’s Goodtyre name: “We have found some faked tyres recently in the market copying the Goodtyre brand name of OTR products – which is both damaging and illegal.” Fighting back in a letter to customers, Yinbao representatives wrote: “Companies and people who undermine the interests of clients and reputation of our group will be investigated for legal responsibility according to law.”

23rd October 2008/by Chris

Indian Production Rises as Exports Fall in August

Indian tyre manufacturers have seen production across all segments rise five per cent (6,990,767) on August 2007 (6,674,269), while the numbers for the first five months of the new financial year yielded an eight per cent gain on the average monthly production (7,059,732) against the same period in 2007, say figures released by the Automotive Tyre Manufacturers’ Association. The same could not be said for exports, where the cross-segment figure for August ’08 dropped considerably by 12 per cent from 535,325 to 473,444.

A particular highlight of the collected statistics is the action of the Tractor segment in August. Exports fell by 71 and 41 per cent respectively in front and rear categories compared to the monthly figures for 2007, though at the same time production in these sections rose 18 and 103 per cent. As these proportions suggest, the numbers for rear Tractor tyre production are particularly striking, going from 100,676 to 204,118 for August YOY. In terms of average monthly production between April and August 2008, front and rear Tractor tyres have increased in numbers by 10 and 30 per cent compared to the same five months in 2007. Looking at export figures, these segments have also witnessed an average month-on-month decrease of 41 and 17 per cent respectively in the same period.

20th October 2008/by Tyrepress Editors

Apollo Seeks Extension on Anti-Dumping Duty to Radials

Apollo Tyres is said be calling upon the Indian government to impose anti-dumping duty upon cheap imported Chinese radials, as these products are hurting consumers. The Press Trust of India news agency has reported Apollo vice-chairman and joint managing director Neeraj Kanwar as saying “what China is doing is coming and dumping huge quantities of tyres because they have capacities lying idle, because they are not being able to export properly to America.

17th October 2008/by Tyrepress Editors

Apollo – We Want to Do Something for Indian Tennis

Apollo Tyres continues to refute suggestions that the company is trying to control tennis in India. According to the Times of India, the company made this point clear on October 14 while stating again it would not give out details of spending on the ‘Mission 2018’ tennis project.

In September the All India Tennis Association (AITA) accused Apollo of launching a misleading advertising campaign, and it asked the company to be more ‘transparent’. The Association demanded information on how much Apollo had so far spent on the programme.

14th October 2008/by Tyrepress Editors

Costs, Prices Continue to Rise for Apollo

Onkar Kanwar, the managing director and chairman of India’s Apollo Tyres, has stated to news sources that the company expects to make another price increase in Q3 of the company’s current financial year (1 April 2008 – 31 March 2009), based on the continuing rise of costs.

“The cost is up and we have to push up the prices,” Onkar Kanwar told journalists, responding, “It is possible,” when asked whether prices will go up in Q3.

In Friday trading the company topped the Bombay Stock Exchange bulk deals table when Kotak Mahindra UK Ac Sandstone Capital India Master Fund bought 8,405,530 shares at 33.25 rupees a share and Morgan Stanley Mauritius Company sold 8,405,530 shares at 33.25 rupees a share.

13th October 2008/by Tyrepress Editors