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Indonesia

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Hankook increases Group profits with record high sales

Hankook Tire made 585.8 billion Korean won (383.3 million euro) in financial year 2010 operating profit, the company has announced. Helping Hankook achieve these figures was a record-breaking global sales total of 5.4 trillion won (3.5 billion euro), which fulfilled its aggressive global sales target to exceed 5.1 trillion won and recording an 11.5 per cent year-on-year increase. The company’s 2010 operating profit represented a 6.7 per cent increase. Hankook also said it sold more tyres than ever before to the European markets produced at its new European plant in Hungary.

1st February 2011/by Tyrepress Editors

Two-Year Rubber Squeeze Predicted

The acceleration in demand for tyres in rapidly growing economies like China and India has led to a sharp increase in natural rubber prices over a sustained period, as a look at the tyrepress.com News archive will tell readers. Now climatic conditions in major rubber supplying nations Thailand and Indonesia could prevent production upgrades, potentially leading to shortages and further price increases, according to estimates made by the Association of Natural Rubber Producing Countries.

24th January 2011/by Tyrepress Editors

T&A Visits Apollo’s Limbda and new Chennai Factories

If you cast your mind back to before 2009’s Apollo/Vredestein merger deal was announced there was much talk about plans for the construction of a greenfield tyre production plant in Hungary. Newspaper reports published at the time suggested that Apollo had earmarked around 200 million euros for this. Most observers interpreted the Vredestein purchase as being a substitute for the Greenfield plans, but bearing in mind that the pricetag was reported as being just US$ 50 million in June 2010, it raises the question of what was done with the rest of the money. The short answer is that Apollo executives say they have invested it in the construction and rapid development of its Chennai manufacturing facility, which had a budget of around 350 million euros before the firm decided to further its plans for truck and bus radial tyre production last year. Anything else looks like to have been absorbed by the company’s liabilities. However, regarding the Chennai investment Tyres & Accessories recently had the opportunity to tour the facility, see production in action and learn more about the thinking behind the investment.

10th January 2011/by Tyrepress Editors

Hankook Announces Plant No. 7

A US$353 million manufacturing facility in Bekasi, Indonesia will become the seventh factory operated by Hankook Tire and its fifth facility outside of South Korea. The tyre maker’s decision to invest in a factory in Indonesia was announced a month after Hankook stated its intention to build a plant in China’s Chongqing province. Adding a seventh plant to Hankook’s global production network will, the company says, enable annual global output to reach 100 million units by 2014 – a stated goal of Hankook Tire’s mid-term business target.

4th January 2011/by Tyrepress Editors

One Year On – Effiplus Introduction Fairing Well

One year after Techking’s Effiplus passenger car radial was launched in at Reifen China 2009 in Shanghai, the company known for its OTR and latterly its truck tyres has news of further expansions in the range. While the Effiplus line up consisted of just 20 specification 12 months ago, today there are over 100, with a number of sub-specifications. Speaking in an interview at the end of 2010, Techking marketing and sales director James Wang brought us up to speed on the latest product developments – including the new second life truck tyre warranty – the company has to offer.

15th December 2010/by Tyrepress Editors

Yokohama’s Gary Nash Talks OTR Tyres

This year, notes Yokohama Tire Corporation, has been a good one for Gary Nash. The 45-year tyre industry veteran was promoted to vice president of Yokohama’s OTR department in the US in 2010 and was elected to the Tire Industry Association’s (TIA) Hall of Fame. In an interview released by the tyre maker, Nash discusses the fluctuations that have taken place in the OTR market, why the bottom dropped out in 2009 and how it bounced back strongly in 2010, and what the market will look like in 2011.

9th December 2010/by Tyrepress Editors

First GT Radial Long Haul Tyres Get SmartWay Verification

The GT Radial GSL213 steer tyre and GT669+ drive tyre have received SmartWay verification from the US Environmental Protection Agency. SmartWay verified products reduce emissions and provide estimated fuel savings of three per cent or greater against market leading on-highway commercial truck tyres. These are the first GT Radial tyres to receive SmartWay verification. “This is an important milestone for our customers and company,” said Tom McNamara, vice president of sales for GITI Tire USA. “Our customers are reducing fuel costs, one of their highest expenses. We have received confirmation on the technology of our products and commitment to the environment.”

29th November 2010/by Tyrepress Editors

Rösler Reports Meeting of "OTR Tyre Giants"

Wilhelm Schelkmann (94), the inventor of the pre-cure tyre renewal process, invited Paul Rösler Sen. (69) to his villa in Mallorca, where the two friends discussed how the pre-cure process (especially when used for 63” tyres) was evolving under Rösler Groups’ guidance. Rösler had a lot of news to share, including the renewal facilities completed in Australia, Kazakhstan, Indonesia and Uzbekistan.

24th November 2010/by Tyrepress Editors

Conti to Raise Prices in Asia

List prices for Continental’s replacement summer and all-season tyres in numerous Asian markets will increase by five per cent on December 1. According to the manufacturer, the increase in “in response to the current very high price level for the main types of natural rubber used in the production of tyres," and will apply to all Continental passenger car and light commercial vehicle tyre brands. The price increases apply in China, Taiwan, Thailand, Malaysia, Indonesia, Philippines, Vietnam and Singapore.

22nd November 2010/by Tyrepress Editors

Trax Reports Successful SEMA Show

For the third consecutive year, the UK’s Trax JH Ltd displayed its products at the major US based SEMA show in Las Vegas. With the USA now also moving to lead-free balance weights, the company reports that visitors to November’s show expressed significant interest in the Trax range of quality steel adhesive weights, with agents and distributors now in place to take advantage of this move to using non-lead materials.

18th November 2010/by Tyrepress Editors

Analysts: Winter Tyres; Price Increases to Support Sumitomo Profitability

Following the publication of Sumitomo Rubber Industries’ nine-month 2010 results, financial analysts have observed that the firm was “hit by higher raw material prices,” which are said to have “shaved off” billions of yen of profitability. Nevertheless the company maintained its full-year earnings advice. Deutsche Bank analysts said they expect the company to outperform in the fourth quarter of this year off the back of winter tyre sales: “The key point is whether price rises/better product mix/higher volumes can offset the impact of raw materials prices, including natural rubber and yen/baht appreciation.”

15th November 2010/by Tyrepress Editors

Indonesia/Malaysia Home to Thriving Tyre Retail Markets

International News

As the Asian region’s car parc continues to swell in the wake of economic recovery, the demand for aftermarket products and services is also said to be increasing. GfK Asia, which conducts retail audits in the automotive aftermarket in major Asian cities like Bangkok, Kuala Lumpur, Jakarta, Manila and Seoul, recently looked into the relationship between car “populations” in these cities relative to the number tyre servicing garages and compared the saturation levels in differing economies. While each tyre servicing garage in developing cities such as Kuala Lumpur, Bangkok, Jakarta and Manila serviced an average of 2250 vehicles, this figure is almost halved, at 1172:1 in a “developed” city such as Seoul. The Malaysian figure is almost four times the 674:1 average ratio GfK published in April 2009.

2nd November 2010/by Tyrepress Editors

Gajah Tunggal Boosts Profits with Increased Sales, Reduced Expenses

Indonesian tyre manufacturer Gajah Tunggal has increased its nine-month operating income (981.3 billion Indonesian rupiahs; £68.6 million) and net income (664.2 billion IDR; £46.4 million) by 29.4 and 10.7 per cent respectively on the back of rising sales in domestic and export sales during 2010’s first three quarters. A report by Bisnis Indonesia said the country’s largest tyre producer scored particularly high sales in the USA, which have risen 42.5 per cent to total 840.7 billion IDR.

1st November 2010/by Tyrepress Editors

Michelin 9-month Sales up 20%

Michelin has reported that its net sales for the first three quarters of 2010 shot up 19.4 per cent to 13 billion euros. According to the company, the growing figures reflect increased unit sales growth across all sectors and follow a particularly sustained recovery in unit sales of passenger car and light truck tyres. As a result of the good third quarter figures, Michelin reaffirmed is predictions that the company would achieve around 12 per cent growth in unit sales by the end of 2010, “close to 9 per cent operating margin before non-recurring items” and positive free cash flow for the year.

Referring to the company’s third quarter sales of 4.65 billion (which were up 24 per cent year-on-year), financial analysts praised the fact that the results were 6 per cent ahead of consensus estimates. However, writing in an investor’s note published 27 October, Morgan Stanley analysts wrote that this figure was largely down to better-than-expected foreign exchange rates. Sales growth is said to have equated to +15 per cent excluding foreign exchange effects during the quarter.

27th October 2010/by Tyrepress Editors

Deruibotire Targets 24 Million Tyres Produced in 2011

International News, News, UK News

Deruibotire (or Shandong Deribao Tire Co, Ltd), a tyre-maker in Guangrao County, a region of China’s Shandong Province has big new production plans in the offing in 2011. Visiting Brityrex 2010 in Manchester with a Chinese delegation, the company’s president Yuan Tingshu told Tyres & Accessories that, while the company is currently producing 3 million radial tyres per year, it is developing a production line to produce 24 million units in 2011.

6th October 2010/by Andrew