India Archives - Page 98 of 126

IIRC 2007 Discusses Raw Material Crunch

The 2007 India International Rubber Conference & Expo focused on the raw material crunch facing tyres and attracted more than 600 delegates, including 75 overseas delegates. At the exhibition that ran in parallel, 90 stalls were installed by different organizations related to rubber and allied industry. JK Tyre also exhibited racing and rally cars for the viewers along with vintage cars. There conference featured seven plenary sessions in all, 12 technical sessions and two workshops on ‘Importance of Testing and Standardization of Chemical.’ In total 83 papers were presented at the conference.

Discussion topics included:

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20th November 2007/by Tyrepress Editors

MRF Releases Silica Based PCR Range

Product News

India’s largest tyre manufacturer, MRF, has unveiled a new high performance PCR line. Called the MRF ZSLK, the tyre features a silica reinforced compound that is said to reduce rolling resistance, thus providing economic and green benefits. MRF reports that, in addition to in-house tests conducted by the company’s R&D centre, the ZSLK series has undergone testing with the globally respected technical services firm, Germany’s TÜV.

19th November 2007/by Tyrepress Editors

Watts “To Review Prices Quarterly” As Rubber Prices Rise

Product News

“The rising price of natural rubber will present one of the major challenges that all industrial tyre manufacturers face in 2008” stated Jean-Paul Mindermann, Chief Executive Officer of Watts Tyre Group, at his Q3 Business Review Conference. The facts are startling; after 2006’s wild fluctuations the price of RSS3 has risen sharply and steadily in 2007. In January this year the price per kilo was 197 US cents, ten months later it sits at 255, with market analysts predicting that the price will soon hit 300 cents per kg. Over the last 12 months the price has risen by more than 60 per cent.

15th November 2007/by Tyrepress Editors

Agarwal Rubber: Driving Ambition

Product News

Agarwal Rubber Limited was incorporated in 1983 and is part of the Agarwal Group; one of the leading private business groups in India, with interests in a number of fields, including automobile rubber products, tyres, tubes, flaps, cement manufacturing and real estate. Agarwal Rubber was the first company in India to exclusively manufacture butyl rubber tubes and flaps – products which had traditionally been manufactured by tyre companies – and the initial capacity was 200 tubes per day. This has risen somewhat, as today’s daily production capacity stands at 30,000 tubes.

The company is already well known for its Maruti brand of products, which include tyres and tubes for everything from two wheelers through passenger cars and LCVs to trucks and even tubes for aircraft wheels. Agarwal Rubber has recently extended its range with the addition of a new brand, ARL.

13th November 2007/by Tyrepress Editors

Phillips Carbon Black to Expand Capacity

Product News

India’s RPG Enterprises is looking to boost capacities at its Phillips Carbon Black (PCBL) subsidiary. The Economic Times in India reports the company is establishing a 75,000 tonnes per annum greenfield carbon black manufacturing unit in the west Indian state of Gujarat, along with a 16 megawatt power plant. It also intends to increase capacity at its facility in the state of Kerala by 50,000 tonnes per annum to 85,000 tonnes.

RPG Enterprises vice-chairman Sanjiv Goenka told the Indian financial daily “the move is expected to catapult PCBL globally to the sixth rank in terms of the manufacturing capacity over the next two years from ninth now.” The total outlay for the proposed projects, at both greenfield and established sites, is estimated to be Rs 5,500,000,000 (£67.3 million) and will be funded by a mix of debt, equity and internal accruals, Mr. Goenka added. The greenfield facility alone will require an investment of Rs 3,500,000,000 (£42.8 million).

13th November 2007/by Tyrepress Editors

Ceat Outsourcing up 25% in Q3

Product News

Outsourcing is becoming an ever-larger focus for Ceat, India’s fourth-largest tyre manufacturer. Following the announcement of the company’s July-September results chief financial officer K J Roa reported that, of the 44,000 tonnes of tyres sold during the quarter, up to 10,000 tonnes were sourced from contract manufacturers, including overseas based companies. Compared with the corresponding quarter of 2006, outsourcing grew by 25 per cent whilst overall volumes increased by just 7 per cent year-on-year.

In addition to tyres imported under an agreement signed with Pirelli, Ceat has outsourced production for a number of low-margin items such as tubes, slabs, and tyres for two and three wheeled vehicles. Due to production restraints the manufacturer also currently imports a number of PCR and TBR tyres. In future, said Rao, China will take on an important role as an outsourcing location for the Indian company. Currently a number of products are undergoing testing, and over the next two months volumes from China could rise.

8th November 2007/by Tyrepress Editors

Charges Against Apollo Chairman May be Unsustainable

Product News

The mismanagement allegations made by Narinder Jeet Kanwar against his elder brother, Apollo Tyres chairman Onkar Singh Kanwar, might not be sustainable in Chennai’s Company Law Board (CLB) as the younger brother is not a company shareholder, report both Apollo Tyres and independent legal experts. A spokesperson from the company has stated “Narinder Jeet Kanwar has no stake in the company.” Therefore, it was added, he is not in a position to bring the issue before the CLB.

India’s Business Standard newspaper has quoted the position of a Chennai based company law expert, M R Venkatesh, regarding the matter. “The petitioner or petitioners as a group must hold at least a 10 per cent stake in the company for the CLB to accept the petition. It is not an easy process, unless this 10 per cent stake is held by a person,” said Venkatesh.

7th November 2007/by Tyrepress Editors

New PCL Brand Image Reflects Global Growth

Product News

Pneumatics Components Ltd. (PCL) is undergoing a brand makeover to reflect the company’s recent development and strategy for the future. The past five years have seen numerous changes for the company as PCL has strengthened its strong global position in tyre inflation equipment and services and established itself as a leading provider of pneumatic products, a position achieved through the development of a range of new products, including the company’s electronic tyre inflation ranges and its air tool and air treatment ranges. The ever-more comprehensive PCL product portfolio has been backed up by the expansion of international businesses, with the company opening offices in Malaysia, the USA and India, plus the revamping of global distribution and support services.

The company’s new logo, packaging and website will be integrated into the business over the coming months. PCL are confident that the new look, with its new clean, corporate design, will mirror PCL’s reputation as a professional, innovative and dynamic company with a sound manufacturing base, and reflect the company’s continuing investment as the tyre inflation and pneumatics expert. The PCL corporate brand will utilised on all pneumatics and tyre inflation products in all markets.

7th November 2007/by Tyrepress Editors

Brothers In Apollo Tyres Conflict

Product News

In India, Narinder Jeet Kanwar has reportedly filed a petition with the Company Law Board against his elder brother, O. S. Kanwar, who is the head of Apollo Tyres. Press reports say that the petition is seeking investigation over alleged illegalities, manipulations, fraud and insider trading by O. S. Kanwar in order to acquire a controlling stake in the company. Narinder Jeet Kanwar is quoted as saying: “The affairs of the company are being conducted in a manner so as to deceive the shareholder.”

A statement issued by Apollo Tyres reads as follows: “In the context of the news reports that have appeared in the Indian media regarding Apollo Tyres, we wish to clarify that the Petition reference which is made in the report has not even been admitted by the Honorable Company Law Board’s Additional Principal Bench in Chenai and the very maintainability of the same has been challenged by the company. The matter being sub-judice, we would like to refrain from stating anything on the merits of the same.” In other words, no comment.

5th November 2007/by Tyrepress Editors

Rubber Prices Set To Rise Sharply

Product News

A statement from Jom Jacob, senior economist of the Association of Natural Rubber Producing Countries, warns that increased demand for natural rubber – demand which producers are struggling to fulfill, will inevitably lead to spiralling rubber prices. Factors such as erratic weather, lack of cultivatable land and labour supply constraints could all adversely affect output in the main producing countries of Thailand, Indonesia and Malaysia.

International prices have risen four-fold since 2001, when there was over-supply and the price was at a 30-year low. Some analysts say they expect rubber to rise around 18 per cent to $3 a kg next year. Thai RSS3 grade, often used as the benchmark for physical prices, stood at USD2.55 a kg on Friday.

5th November 2007/by Tyrepress Editors

Retreaders Work on Their Contacts in Singapore

Product News

Tyrexpo Asia is not only a very interesting show for wholesalers, dealers and manufacturers of new tyres. In parallel with the increasing “Westernisation” of many markets in the region, suppliers of treads and tread rubber as well as equipment for the retreading business play an increasingly important role for Tyrexpo Asia, and this has not only been the case for this year’s show. Despite this, it has to be admitted that in previous years more companies from the retreading industry were present during the Singapore show, such as, for example, Goodway from Malaysia or Vipal from Brazil. So, this year’s exhibition appeared to lack some important market players. However, many others, including several companies from Europe and Northern America came or returned to exhibit at Tyrexpo Asia and thus benefited from it.

29th October 2007/by Tyrepress Editors

Changes Coming for Tyre Corporation of India

Product News

The long embattled Tyre Corporation of India will soon gain a new owner and company structure. These changes are taking place as a result of the Indian government’s October 25 approval of a proposal for the company’s disinvestment.

The proposal calls for the “sick” public-sector enterprise to be operated as a joint venture, with a private company acting as partner. For such an arrangement to take place India’s government needs to introduce an amendment to the Tyre Corporation of India Ltd (Disinvestment of Ownership) Bill 2007. India’s Information and Broadcasting minister P. R. Dasmusi has informed media that the government has granted approval to these amendments, and the bill is now pending before parliament.

29th October 2007/by Tyrepress Editors

Apollo Tyres Names New Board Member

Product News

Former chairman of the State Bank of India, Mr. Arun Purwar, has been named to the board of directors at Apollo Tyres. Company chairman and managing director Onkar S Kanwar, commenting on his appointment, said “It is an honour to have Arun on our board of directors. He brings with him a wealth of global financial and management expertise and his long list of achievements with India’s largest and most successful bank.”

Purwar served as chairman of the State Bank of India between 2002 and 2006, and spearheaded the bank’s retail expansion and modernisation, backed by robust IT systems.

26th October 2007/by Tyrepress Editors

Apollo Results Show Growing Profits & EU Presence

Product News

The board of directors at Apollo Tyres made public details of the company’s unaudited second quarter and half-year results on October 26, figures that indicate strong profits. Combined India and South Africa net sales for the quarter between 1 July and 30 September were recorded as Rs 10,848.97 million (£134 million), slightly lower than the same period a year earlier (Rs 10,903.43 million). However, profits trebled: The Rs 182.18 million (£2.25 million) profit gained in second quarter 2006 swelled to Rs 576.09 million (£7.11 million) this year. Half year profits for the six months ended September 30 showed a similar trend, growing from Rs 298.69 million (£3.69 million) to Rs 1,122.5 million (£13.86 million).

26th October 2007/by Tyrepress Editors

Apollo Tyres Launches Virtual Tennis Game

Product News

Apollo Tyres and zapak.com have partnered to produce an online tennis game on India’s largest gaming portal. As a part of the promotion Zapak Digital Entertainment has created a unique property called Apollo Tyres Tennis II. Said Mr Avik Chattopadhyay, Head, Corporate Marketing Group, Apollo Tyres Ltd: “We at Apollo are committed to promote tennis as a sport in India. Since online gaming has become a rage with Indian youth, we joined hands with zapak.com, to reach out to a larger audience. Tennis is one of the most popular games on zapak.com and we found here an opportunity to nurture this interest. Apollo Tyres is the first corporate to have a branded game on zapak.com.”

25th October 2007/by Tyrepress Editors

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