India Archives - Page 88 of 128 - Tyrepress

India

Tag Archive for: India

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

Apollo Expects Continued Sales Growth

Despite the possibility of a price increase between October and December this year (see ‘Costs, Prices Continue to Rise for Apollo’ – www.tyrepress.com), Apollo Tyres’ chairman, Onkar Kanwar has stated that Apollo will continue to see “15-20 per cent” annual sales growth, while “Volume growth will continue at the same level” over the next six months.

Kanwar also told news sources that the company’s planned 320 million US dollar investment in production capacity expansion in India and South Africa is on schedule and has not been changed in light of the worldwide financial climate. “I am very optimistic,” he told journalists. “There might be some slight slowdown temporarily, but starting first quarter (April-June 2009) it should start moving up.”

13th October 2008/by Tyrepress Editors

Cheaper Rubber Doesn’t Equal Cheaper Tyres – Indian Manufacturers

Despite the prices for natural rubber in India dropping more than 32 per cent in the last two months, tyre manufacturers in this country appear reluctant to follow suit with their own prices. The price of natural rubber fell below the Rs 100 ( ) a kilogram mark on October 7, the first time it has done so this year after rising to a high of Rs 140 ( ) per kilogram in August. The fall in the price is attributed to a decline in crude oil prices and a slide in international rates for latex. Further decreases in the price of natural rubber are also expected in India, the result of peak production season supply and diminished purchasing from industrial users.

10th October 2008/by Tyrepress Editors

Continental Sponsors Paul Merton TV Series

Continental Tyres are sponsoring Channel 5’s new Paul Merton in India series, which started on 8 October. Following on from the successful series on China, Paul tours India exploring many areas and aspects of the country’s culture. Media agency PHWT worked with Continental to create a number of sponsorship idents that will run throughout each programme in the series. These focus solely on the Continental tyre which rolls across the screen creating a continuous orange line. The tyre always stays in a straight line, whilst the line constantly changes shape to form iconic landmarks from across the globe.

10th October 2008/by Tyrepress Editors

The Quiet Achiever

Yokohama Tire admits that an OTR division is typically not the highest profile area in a tyre company’s hierarchy – yet it’s one of the most profitable. While they produce and sell the world’s largest and heaviest tyres, it is the consumer and, to a lesser extent, commercial divisions that receive most of the limelight. To set the record straight, Yokohama Tire USA has interviewed two key members of its OTR division, director of OTR sales Gary Nash and national sales manager Nelson Richards. The two men discuss the inner workings of Yokohama’s OTR department, the marketplace and the future of OTR.

6th October 2008/by Tyrepress Editors

Phillips Carbon Black Commissions New Power Plant

Phillips Carbon Black has invested in a means of converting excess gas into energy and financial savings. The India based company has announced the commissioning of its 30 MW co-generation power plant Durgapur, in the state of West Bengal. The Rs 1 billion (£11.6 million) facility, which utilising the waste gas produced during the process to generate power, was commissioned on September 29.

3rd October 2008/by Tyrepress Editors

Michelin Says Cost Saving Plans On Target

On October 1 Michelin stated it remains on target to reach its “Horizon 2010” strategic plan of becoming more competitive. The cost saving programmes it has implemented have reduced costs by 500 million euros since 2006, approximately a third of its 2010 goal.

“The group is on target to meet the 2010 cost-reduction objectives it announced two years ago,” the company announced. Michelin intends to reach an overall savings target of between 1.5 and 1.7 billion euros.

2nd October 2008/by Tyrepress Editors

Tennis Programme Not Just for Brand Awareness, says Apollo

In light of accusations that its programme to nurture up and coming tennis talent is little more than another means by which to promote brand awareness, Apollo Tyres has reiterated that its ‘Apollo Tyres Mission 2018’ scheme is a “programme to identify, nurture and create world-class tennis players in India who will challenge, perform and win on the world stage, with at least one becoming a Singles
Grand Slam champion by the year 2018.”

The All India Tennis Association (AITA), however, views the Apollo programme differently. According to AITA secretary Anil Khanna, the company is doing little in the name of tennis development and is instead using the programme as an opportunity to promote its own brand. In a letter to Apollo Tyres the AITA asked the company to be “transparent” and reveal how much it has to date spent on Apollo Tyres Mission 2018, a scheme the tyre maker claims to have earmarked Rs 1 billion (£11.6 million) for. Apollo says it is unable to provide details of any money so far spent.

30th September 2008/by Tyrepress Editors

Possible Site for New Ceat Plant Named

According to an unnamed government official, India’s Ceat Ltd is considering the northeastern state of Gujarat as the location for its new LCV and truck radial facility. The Thaindian news reports the source as saying the company will invest RS 5 billion (£57.76 million) in building the facility, however Ceat has not confirmed any such detail.

29th September 2008/by Tyrepress Editors

India Reviewing Nylon Tyre Cord Anti-Dumping Policy

India has initiated a sunset review of Anti-dumping duty on imported Nylon Tyre Cord Fabric from China. The review has been called for as by the domestic industry as Indian companies in this sector wish to see the current anti-dumping duty both continued and enhanced. Notification of the review, released by India’s Department of Commerce on September 16, states that “dumping has continued in spite of imposition of antidumping duty on import of the subject goods from China PR and the domestic industry continues to suffer injury on account of dumping from the subject country.”

25th September 2008/by Tyrepress Editors

Smuggled Tyres Putting the Squeeze on Indonesian Manufacturers

Domestic tyre sales in the Indonesian market dropped four per cent during August, allegedly the result of a market saturated with cheaper tyres smuggled from China and India. According to Indonesian Tire Producers Association chairman Aziz Pane, illegal tyres have been entering the Indonesian market since July and are making life difficult for the producers of their local counterparts.

“Illegally imported tyres, in the hundreds of thousands, have partly taken over the domestic market,” Pane told the Jakarta Post. “Local tyre producers sold 3.7 million tires in August, down from 3.89 million in July.” According to the association, tyres produced in China and India are sold in Indonesia for between 10 to 30 per cent less than locally made tyres.

23rd September 2008/by Tyrepress Editors

Indian Government May Offer Fuel-Efficient Incentives

The Indian government is pondering whether to offer fiscal incentives to popularise fuel-efficient radial tyres for trucks and buses, the country’s news media is reporting. It is thought that the tyres could save automotive fuel worth 200,000,000 rupees (2.4 billion pounds sterling) annually. The package would include exemption from excise duty, a reduction in import duty on machinery and a concessional VAT rate for a ten-year period.

By doing so, the Indian government would hope to increase the manufacturing of radial tyres within India, and boosting its market share to 25 per cent. The current level is between 4 and 5 per cent, an official in department of industrial policy and promotion told The Economic Times. The Automotive Tyre Manufacturers’ Association has demanded the incentive package that would reduce the cost of radial tyres by 30 per cent, added the source.

18th September 2008/by Tyrepress Editors

Indian Rubber Production Rises 18 Per Cent

Natural rubber production surged upwards by 18 per cent in India in August, claims the national Rubber Board. 72,000 tonnes of rubber were produced in the month, with India seeing helpful climatic conditions. The figure dwarfs the 60,850 tonnes produced in August 2007. There was also a rise in Indian consumption of said rubber, though the proportional rise was a mere 4 per cent at 78,000 tonnes (2007: 75,105 tonnes).

Senior Rubber Board officials told the media that the rise comes on the back of “an increase in the production and export of vehicle tyres.” During the period under review, the export of natural rubber shot up by 65 per cent to 2,341 tons against 1,416 tons, while import witnessed a slump of 150 per cent to 2,726 tons, compared with 6,839 tons in the same period last year.

12th September 2008/by Tyrepress Editors