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Multistrada Reports Record Domestic Sales

PT Multistrada Arah Sarana Tbk, the Indonesian tyre manufacturer, reportedly achieved record tyre sales in the first quarter of 2010. Local news sources quoted “a source familiar with the matter” as saying Multistrada sold 1.5 million passenger car tyres in the first three months of 2010, with motorcycle tyres sales totally over 600,000 units. These figures are more than fifth up on the same period last year when the company sold 1.2 million of car tyres and half as many motorbike tyres (300,000 units). Multistrada produces the Achilles, Corsa, and Strada brands.

21st April 2010/by Tyrepress Editors

Report: Gajah Tunggal to Expand Production Plant

Indonesian news sources are reporting that Indonesia's largest tyre manufacturer, PT Gajah Tunggal Tbk, is planning to set up a new tyre plant lift production capacity from 30,000 tyres per day to 45,000. According to one blogger, the company also is preparing to build a new motorcycle tyre plant in a bid to almost triple its production capacity in this sector from 37,000 to 105,000 tyres per day.

21st April 2010/by Tyrepress Editors

Indonesian Tyre Sales Shoot Up 54.62%

The Association of Indonesian Tire Producers (APBI) has reported that domestic car tyres sales volumes jumped 54.62 per cent to 7.87 million tyres in the first two months of 2010, compared to 5.09 million tyres at the same point last year. According to data, published on the Indonesian Insider Stories website, the sales volume of motorcycle tyres rose significantly, up 22.7 per cent from 4.22 million tyres in the first two months of last year to 5.18 million tyres at the start of 2010. The association has not reported first quarter sales volume figures.

21st April 2010/by Tyrepress Editors

Gajah Tunngal Reports £64M Net Profit for FY2009

Full year net profits of 905.33 billion rupiah (£64.67 million) have been reported by PT Gajah Tunggal Tbk. The Indonesian tyre maker reports it “managed to overcome a difficult first half of 2009” to post full-year sales of 7,936 billion rupiah (£566.86 million), only slightly down from the 7,963 billion achieved in 2008. Overall sales volumes were down in 2008, the company says, primarily due to volume decreases in export markets. The reported net profit, however, represents a marked contrast to a net loss of 624.79 billion (£44.63 million) a year earlier. Gajah Tunggal claims “strong operational performance was the main driver” of this turn around from loss to profit, although a large translational foreign exchange gain related to the company’s US dollar denominated bonds also contributed to the gain in net income. Furthermore, Gajah Tunggal’s associated company, PT Polychem Indonesia Tbk., added 16 billion rupiah (£1.14 million) to earnings from a loss of 76 billion rupiah the year before.

19th March 2010/by Tyrepress Editors

Is Michelin Angling for a Majority Stake in Gajah Tunggal?

Indonesian news sources are speculating that Michelin is positioning itself to take a majority stake in PT Gajah Tunggal Tbk, the Indonesian tyre manufacturer wing of Giti Tire. Michelin currently holds 10 per cent shares in the company and in the next year is expected to receive around 5 million through an off-take agreement with the company.

Indonesian website VIVAnews quoted an unnamed source as saying Michelin will buy a 44 per cent stake, making its total shareholding a majority 54 per cent. Gajah Tunggal director Catharina Widjaja reportedly said she had not heard that Michelin would be the majority shareholder of the company. When asked the same question Herve Richert, Giti Tire director sales and marketing (international), gave Tyres & Accessories a similar reply: “These are media news rumours, that we are not aware of and have no basis.”

23rd February 2010/by Tyrepress Editors

Despite Factory Plans, Indonesian Tyre Makers Remain Confident on Egypt Exports

Indonesian tyre exports hold a market share of around 30 per cent in Egypt, and according to the Jakarta Post, tyre makers have retained their confidence about this market despite the announcement of plans late last year to refurbish an idle plant their and turn it into the Middle East’s largest tyre manufacturer.

18th January 2010/by Tyrepress Editors

Zeetex Brand Out in Force at Reifen China

International News, News

The Zeetex tyre brand, which is produced exclusively for Dutch wholesaler S&H Tyres and Dubai based Zafco, was out in force at November’s Reifen China show. In addition to the company’s large and unmissably coloured orange and black stand, S&H Tyres chose a prime location near Reifen China’s main entrance and opposite the thoroughfare between this and the popular China RubberTech exhibition. With arguably the biggest stand held by a European company at the show, Tyres & Accessories asked one of the company founders Siem Klapwijk the obvious question – why?

The reason S&H’s management is happy to invest so much in exhibiting in China is because the company, which already sells significant amounts of tyres in the western European countries, is growing fast and becoming increasingly international. Currently the UK and Germany are seen as key markets, however, while this is likely to continue, the company’s 2010 forecasts would seem to suggest that new markets will be needed in addition to sales growth from existing customers. During the course of 2010, S&H expects to sell 2 million passenger car tyres and between 500,000 and 600,000 truck and bus tyres around the world.

15th December 2009/by Tyrepress Editors

Gajah Tunggal Looking to Fill US Market Void Left by Tariffs

International News, News

Indonesian tyre maker PT Gajah Tunngal is hoping to take advantage of US tariffs against Chinese made consumer tyres. The Jakarta Globe reports company director Catherine Widjaja as saying “we are looking to see if we can fill the void left after the US hiked import tariffs on Chinese tyres.”

30th November 2009/by Tyrepress Editors

Automechanika Shanghai Attracts Record Number of Exhibitors

This year Automechanika Shanghai takes place between December 9 and 11 at the Shanghai New International Expo Centre, China. Despite the global recession, organiser Messe Frankfurt reports the show has already set a new record with over 2,200 exhibitors from 23 countries and regions, including Belgium, Brazil, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Korea, Malaysia, the Netherlands, Russia, Saudi Arabia, Serbia, Singapore, Spain, Taiwan, Thailand, Turkey, UK and USA. As a result, the exhibition space has expanded to nine halls, with a total of more than 100,000 square metres.

6th November 2009/by Tyrepress Editors

Chinese Compound Rubber Imports Swell in 2009

China is the world’s largest consumer of rubber, and growth in the use of compound rubber – a substance containing 99 per cent natural rubber but attracting 15 per cent less tax than its pure 100 per cent counterpart – is colossal. This year the country is expected to import 950,000 tons of compound rubber, a leap of almost 71 per cent from last year. Many rubber exporters in Thailand, Indonesia and Malaysia are now focusing on producing compound rubber more to take advantage of China's import duty structure. "Compound rubber import volume was increasing in recent years because the customs tax was lower than [for] natural rubber," the China Rubber Research Institute said in a report prepared for an international conference in Vietnam.

6th November 2009/by Tyrepress Editors

Credit Crunch Takes a Bite Out of the Russian Bear

International News, News

Pierre Cohade, president of Goodyear Tire & Rubber Co.’s Asia-Pacific business, recently asked if we should move away from talking about BRIC countries (the emerging markets of Brazil, Russia, India and China) and instead focus on BIIC. Posting this poser on the popular Twitter social network (follow twitter.com/tyrepress for regular tyre industry updates) from his base in Shanghai, Cohade questioned whether Russia’s position as leading light in the global economy should be replaced with Indonesia which, in his words “continues its spectacular improvements.” He’s got a point.

4th November 2009/by Tyrepress Editors

Natural Rubber Price Could Force 2% Increase from Tyre Companies

Natural rubber cost increases of 60 per cent during the course of 2009 could force tyre manufacturers to increase selling 2 per cent. Current prices of US$ 2.4/kg (RSS3 grade, according to SICOM) compare with a recent low of US$ 1.5/kg last January, and US$ 3.2/kg in June 2008. Average prices reached US$ 2.3/kg in 2007, US$ 2.8/kg in 2008 and are expected to fall around the US$2.0/kg mark for 2009.

According to financial analysts at Deutsche Bank the recent surge is due to inventory build up from tyre companies; the weakness of the US dollar; and recent flooding in Indonesia, which is responsible for 15 per cent of the world’s natural rubber production. Writing in an investor’s note dated 13 October, the analysts reported that natural rubber costs represent approximately 8 per cent of sales of leading tyre makers. This equates to an estimated 550 million euros for 2009 in Continental’s case; 1.2 billion euros for Michelin; 60-65 million for Nokian Tyres and 400 million euros for Pirelli. Therefore if rubber stays at current levels the industry would have to increase selling prices by approximately 2 per cent to offset the added cost, say the analysts.

13th October 2009/by Tyrepress Editors

De Klok Holds High Expectations for the New Season

Dutch wholesaler De Klok Banden is releasing a completely updated product range for the 2009/2010 winter tyre season. But it is not only the size and depth of the line-up that’s been taken care of – the company is also convinced that tyre dealers will be hard pressed to go past De Klok’s brands when it comes to quality, availability and pricing. Furthermore, a recently added extra 15,000 square metres warehouse capacity shows that the firm from Oud-Beijerland, south of Rotterdam, is set to expand.

2nd October 2009/by Tyrepress Editors

GfK: Japanese Tyre Makers Control 70% of Major Indonesian Replacement Markets

A GfK Indonesia retail audit, covering the area of Jakarta and Surabaya, of passenger car tyres in July 2009 reported close to 110,000 units of car tyres traded in retail level, with sales worth more than $6.75 million. According to the retail census, there are currently a total of 435 shops retailing car tyres which consist of: 300 Car Tyre Specialists, 110 Car Garages and 25 Fast Fitters. Car Tyre Specialists made up the bulk of the passenger car tyre retail sales with 85 per cent of units sold through this core channel. These results clearly show consumers’ preference to “specialised” shops when replacing tyres.

9th September 2009/by Tyrepress Editors

Infinity Brand Pushing Forwards with Bond International

Infinity, a brand belonging to the Al Dobowi Group, is continuing to carve out a growing spot within the UK passenger car tyre market. Its relationship with Bond International, with whom Al Dobowi has developed a significant relationship in the four years since it was appointed the exclusive UK distributor four years ago, was the focus of an event hosted by key members of the Infinity Europe and Al Dobowi companies in the plush surroundings of York Racecourse earlier in the year.

4th September 2009/by Tyrepress Editors