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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

Sumitomo After 1.8% Stake in Stamford Tyres

Sumitomo Rubber Industries, Ltd. SRI is to purchase a 1.8 per cent stake in international tyre and wheel distributor, Stamford Tyres Corporation Limited. Subject to the approval from the Singapore Stock Exchange, Stamford Tyres announced 21 September that it will issue SRI 4.3 million new shares at a price of S$0.35 per share.

Net proceeds from the placement, after deducting expenses of S$100,000, are said to be approximately S$1.4 million (£674,522; 793,471 euros; US$1.054 million) According to the company, the net proceeds will be used to fund the group’s working capital needs in South Africa.

22nd September 2010/by Tyrepress Editors

Natural Rubber Shortage Will Bring More Tyre Price Hikes

Calling it the worst natural rubber shortage in years, industry analysts expect record shortages to continue into next year, according to reports. Heavy demand by tyre-makers around the globe coupled with a combination of drought and heavy rains in plantation areas has sharply reduced output and inventories of natural rubber, according to Bloomberg, with analysts saying natural rubber production will continue to lag for the next two years. What that means is further increases in natural rubber costs to tyre-makers, and higher finished good prices for tyre dealers and consumers.

21st September 2010/by Tyrepress Editors

Hankook to Produce Truck Tyres in Hungary

According to Hankook Tire Europe executive vice president and COO Jin-Wook Choi, the company holds the long-term goal of doubling its annual European production to more than 20 million units. In addition to this sizable increase in passenger car, 4×4 and van tyre production, the company has decided that in the long-term to add a truck tyre production line at its factory in the Hungarian town of Dunaújváros.

20th September 2010/by Tyrepress Editors

Conti Sees Stagnant Car Production in Europe, US

Continental AG says automobile production in Europe and the US will remain stagnant next year, which is why it is stepping up expansion in Asia. The tyre and auto part maker said growth in emerging markets like China, India and Indonesia is important to its continued success.

17th September 2010/by Tyrepress Editors

Eurotire Opens Indonesian Office

New York-Based Eurotire Inc. has commenced operations at its new office in Balikpapan, East Kalimantan, Indonesia. According to the company Balikpapan was selected by Eurotire for PT Eurotire Indonesia because of its strategic position in Indonesia’s central mining region. In addition to being Eurotire’s primary business office for Indonesia, this location also serves as Eurotire’s OTR tyre services and support centre for its local mining customers.

16th September 2010/by Tyrepress Editors