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Second Round of Indian Price Hikes Proposed

Another hike in India’s tyre prices looks likely, in hot pursuit of last week’s initial 2-5 per cent increase (as reported on 6 June). News Sources report that the hike will be at the increased rate of 5-7 per cent, and will apply to all ranges, with rubber and crude oil prices maintaining record highs.

Speaking to journalists, AS Mehta, the marketing director for JK Tyres and Industries, commented on the export of India’s rubber, suggesting that the 20 per cent duty on imported rubber be cut to compensate for the lack of available domestic product.

16th June 2008/by Tyrepress Editors

RPG Investing in CEAT, Philips Carbon Black

India’s RPG group recently outlined plans to invest Rs 30 billion (£357 million) in its tyre and carbon black subsidiaries over the next two years. In late May company chairman Rama Prasad Goenka told media that this investment was part of the group’s expansion programme, and that from the disclosed total, Rs 20 billion would be directed towards the Ceat Tyres operation and Rs 10 billion to Philips Carbon Black.

The investment was necessary if the company was to remain competitive following the government’s liberalisation, privatisation and globalisation policies, he said. The group was, he added, aiming to increase productivity, quality and facilities to workers by the expansion.

12th June 2008/by Tyrepress Editors

India’s Tyre Output Growth Falls Short of Forecasts

Growth in India’s tyre production is likely to fall short of forecast results, with output levels hampered by dumped Chinese tyres and high manufacturing costs. According to Automotive Tyre Manufacturers’ Association (ATMA) director general Rajiv Budhraja, in an interview with Reuters, these factors mean domestic manufacturers will remain under pressure in the short term.

The ATMA previously forecasted growth in 2008 to increase by 2 to 3 percentage points to about 12 or 13 per cent. According to Budhraja, however, “a steady, subdued growth” is now expected in place of this. “Fuel price is going to be a major dampener,” he added, referring to a recent state-ordained 10 per cent increase in the cost of fuel, the greatest price rise in more than a decade. He added that a drop in mileage covered by private vehicles would lead to a fall in demand for tyres in both the OE and replacement markets.

11th June 2008/by Tyrepress Editors

Apollo Tyres Appoints Chief of Research & Technology

Peter Becker, former senior manager at Goodyear Dunlop Germany, has been appointed Chief, Research and Technology at Apollo Tyres Ltd. He has formally joined the company this month and will be leading Apollo Tyres’ initiatives in tyre technology, research and new product development, especially with regard to European market needs. Mr Becker will be based in Germany, where he will be responsible for establishing an R&D facility for Apollo Tyres. He will be working with Apollo’s research, technology and design teams across geographical locations in India, South Africa and Europe. The company has previously announced plans for a 200 million euro passenger car radial tyre manufacturing facility in Hungary.

According to a company statement, the appointment forms part of Apollo Tyres Ltd’s ongoing plans for the European market. Peter Becker commented: “I am excited by this opportunity and impressed by the possibilities the future holds with Apollo Tyres. I am positive that we will be able to bring out competitive products which address customer needs.”

11th June 2008/by Tyrepress Editors

Sino-Indian Trade Increase Leads to Tyre Plant Possibility

Spurred on by the sharp increase in trade between China and India, Chinese Consul General in Kolkata Mao Siwei has told news sources about the attractiveness of a joint venture to set up a tyre plant in West Bengal.

Trade between the countries has reached $38.7 billion in 2007, representing a rapid increase from the 1999 figure of $2 billion, leaving Siwei keen to continue the development with collaborative manufacturing ventures.

Speaking to journalists on Friday, the Consul General suggested that the Bengalese tyre unit would be a joint venture between a China-based and a Dubai-based company.

10th June 2008/by Tyrepress Editors

India Facility to Boost Alliance Tire Agri, OTR Capacity

Alliance Tire, the Israel based company purchased in July 2007 by former BKT CEO Yogesh Mahansaria and global private equity company Warburg Pincus, has plans to construct a £50 million greenfield facility in India. The factory will focus on the production of agricultural and smaller size OTR tyres, and is tipped to double the company’s total production capacity. Manufacture at the plant is anticipated to commence in the first quarter of 2009.

10th June 2008/by Tyrepress Editors

India Now 3rd Largest Market for Budget Chinese Tyres

Data released by India’s Automotive Tyre Manufacturers Association (ATMA) adds weight to complaints from Indian tyre manufacturers about the quantities of budget tyres arriving from China. According to the ATMA, since 2002-03 India has jumped from being the 39th largest market for Chinese tyres to being the third, and the organisation predicts it will slip into top place in the near future.

India’s Business Standard newspaper reports that during April-February 2008 Indian imports from China, at 1.2 million units, had almost doubled compared with the same period a year earlier. Chinese tyres hold a 15 per cent of the RS 78 billion (£927 million) replacement tyre market for trucks.

9th June 2008/by Tyrepress Editors

Indian Tyremakers Raise Prices with Rubber Soaring

Tyre manufacturers in India are responding to the sustained, near-record input cost of rubber by raising product prices.

Having already raised prices on truck tyres by 2 per cent on 1 June, Ceat Ltd plans to raise prices on other tyres by between 2 and 5 per cent on 10 June. Natural rubber costs are blamed for the hikes, having risen 31 per cent this year. Other companies to have raised prices in recent months include MRF Ltd and Apollo Tyres. In addition, AS Mehta, Marketing Director for JK Tyre told news agencies that the company is considering a further increase in June, following a cross-segment hike in April.

6th June 2008/by Tyrepress Editors

International Tyre Exhibitors Sign Up for Tyrexpo Asia’09

International exhibitors are already confirming plans for the new products and displays designed to catch the eye of tyre industry buyers at next year’s Tyrexpo Asia March’09 exhibition. For Singapore-based manufacturer and distributor Omni United, the sales focus next March has already been agreed as its Radar ranges of bus and truck tyres, designed in India and manufactured in China. Radar OTR tyres will also form a very prominent stand presence, with products ranging in size to cover mining and industrial equipment from 21 to giant 57-inch wheel sizes.

Confirming the company’s plans, senior vice president, Shivi Kalra said: “Tyrexpo Asia’09 is an important opportunity to interact with current customers, showcase our expanding ranges of products and meet potential new customers. Next year the focus will be on our ranges of SUV, PCR, TBR and OTR tires – all marketed under our Radar private brand range.”

5th June 2008/by Tyrepress Editors

ATMA Issues Anti-Dumping Plea

Indian news sources have reported that the Automotive Tyre Manufacturers Association (ATMA) have requested a government-implemented anti-dumping duty on radial truck and bus tyre imports. The request follows concerns over the 1,300 per cent increase in Indian tyre imports from China in the last five years.

According to business commentary in India, the increasing cost of raw materials in India has left domestic tyre manufacturers exposed to the challenge from cheaper Chinese imports.

4th June 2008/by Tyrepress Editors

Devalued Rupee Leads to Opposing Opinions on Tyre Dumping Duty

Depreciation of India’s Rupee against the US dollar is leading to stronger voices being raised for and against the country’s dumping duty on imported tyres. At present the duty is applied to bias tyres, and the All India tyre Dealers’ Federation (AITDF) is calling for its abolition in face of prices that effectively have increased 10 per cent in the last two to three months.

“Over the last eight to ten weeks, the rupee has depreciated by 10 per cent vis-à-vis dollar,” commented AITDF head SP Singh. “This has resulted in an increase of Rs 2,100 in the prices of a pair of radial truck and bus tyres. Moreover, the existing anti-dumping duty on bias tyres has already hit imports. So, we want the import duty to be abolished to compensate for the impact of rupee depreciation on the import of latest technology radial tyres.”

2nd June 2008/by Tyrepress Editors

Michelin Sponsors Land Rover Monthly Billing Show

Michelin will be title sponsor of the LRM (Land Rover Monthly) Billing Show, which takes place at Billing Aquadrome, Northampton from 18 to 20 July. This year marks the 60th anniversary of the launch of the iconic Land Rover brand; and follows the company’s recent purchase by India’s Tata Group from Ford.

An annual show for Land Rover enthusiasts, Billing provides the platform for Michelin to showcase its comprehensive 4×4 tyre range. This covers all market sectors from heavy duty off-road and multi purpose tyres, to high performance on-road tyres for vehicles such as the Porsche Cayenne and Range Rover Sport.

30th May 2008/by Tyrepress Editors

Apollo Opens First India CV Tyre Outlet

Apollo Tyres has opened its first full-service branded commercial vehicle tyre outlet in India. Located in Salem, in the southern state of Tamil Nadu, the new outlet is called Apollo Trust, and is the first of a number of outlets that will be established in large trucking halt points outside city limits and along India’s national highways. Apollo reports the Salem centre is equipped with the latest commercial vehicle wheel aligning, tyre balancing and nitrogen gas inflation equipment and staffed with highly trained employees. Therefore, the company adds, Apollo Trust is best positioned to cater to the unique and demanding needs of India’s commercial vehicle operators and drivers, who currently utilise both cross ply and radial tyres.

Plans are underway to gradually increase the Apollo Trust network to five locations in the next few months, offering tyres and tyre-related services, alongside the sale of retreaded tyres and retreading materials. Apollo Tyres states in a press release it felt the need to introduce such service-oriented outlets to “assist customers move up the value proposition, enabling them to chose the appropriate application for their vehicles and operational needs through informed decision making.”

29th May 2008/by Tyrepress Editors

Eliokem Increases Chemigum Nitrile Polymer Prices

At the end of May Eliokem increased its prices for products made in its Valia (India) plant by up to 13 per cent. The Valia plant specializes in emulsion polymerization of polymers and latices for both the rubber and latex industries. The products are marketed under trademarks such as Chemigum NBR Polymers in Latex, Powder and Bale forms; and Pliolite HSR High Styrene Butadiene Rubber Masterbatches.

“With the strong polymer demand globally and crude oil record highs, all major monomers and notably Butadiene used in rubber manufacturing are continuing to increase further, as are the costs of energy, chemicals, transportation and labour. Therefore, further price adjustments in June and in the third quarter cannot be ruled out”, said Jacques Collonge, CEO Eliokem.

28th May 2008/by Tyrepress Editors

Apollo Discusses Wider Capacity Expansion Plans

Apollo Tyres has already discussed plans to increase capacity at its Gujarat and Kerala factories, and these projects are part of a wider plan to invest Rs 20 billion (£236.6 million) enhancing domestic and international production capacities. In addition to these expansions, the company will set up a new facility in Chennai.

According to Apollo Tyres chief of India Operations Satish Sharma, the company shall invest this sum over next three years, more than half of which, 200 million euros, would go towards its facility in Hungary. As part of the domestic capacity expansion, Apollo Tyre’s Vadodara plant will see its capacity of passenger car tyre go up from the existing 10,000 tyres a day to 15,000 tyres a day, by around mid-2009. The company will also enhance its truck and bus radial tyres capacity at Vadodara from the existing 300 tyres a day to around 1,100 tyres a day over the same timeframe.

27th May 2008/by Tyrepress Editors