JK Tyre Archives - Page 12 of 13 - Tyrepress

Posts

Vietnamese, Indian Tyremakers Sign Supply Agreement

Vietnam’s Southern Rubber Industry Joint Stock Company, who trade under the name Casumina, has signed a cooperation contract with India’s JK Tyre and Industries Ltd. to export truck tyres and tubes. Under the terms of the contract signed on June 7, Casumina will sell 180,000 truck tyres and tubes to JK Tyre and Industries for US$17million. These products will initially be sold under the JK Tyre brand name and later, following consumer feedback on quality, they will be sold as Casumina branded products. As part of the agreement JK Tyre will provide its latest technology to Casumina.

Casumina manufactures tyres and tubes for trucks, passenger cars and two-wheel vehicles, and began production of radials in 2005. At present the company claims to be experiencing annual growth of 38 per cent, with turnover reaching $14 million last year. In 2006 the company signed a contract with Continental to produce light truck and motorcycle tyres and tubes for the Asian market. These products were produced in Malaysia under the Sime Tyres label.

11th June 2007/by Tyrepress Editors

JK Tyres Considering Return to 2 & 3 Wheeler Market

According to news published in an Indian business daily, JK Tyre & Industries is considering a return to producing tyres for the two and three wheel vehicle market after a long absence. Company president Arun K Bajora told the Financial Express “We are examining the possibility of entering into the two-wheeler and the three-wheeler space. We want to offer a complete package to the dealers and customers.”

At present JK Tyre specialises in supplying both radials and bias tyres for passenger car, truck and agricultural vehicles in its homeland and holds a 25 per cent market share in the almost £2 billion per annum domestic market. Of this motorcycle and three-wheeler production in the 2006-07 year stood at around 26 million units, an increase of 24 per cent over the previous year. This is higher than any market segment apart from tractor trailer tyres, and perhaps too tempting a growth not to capitalise on. In contrast, the overall Indian tyre market only grew by 11 per cent during the same period.

8th June 2007/by Tyrepress Editors

On a Roll

India’s third largest tyre manufacturer, JK Tyre & Industries Ltd (JK Tyre), has made no secret of its plans to increase domestic market share in key segments and to seek out new export markets, but bringing these goals to fruition requires the expansion of the company’s existing production capacities. Therefore JK Tyre has its eye on making an investment of somewhere between £60 million and £75 million in this area over the next three years.

President of JK Tyre, Mr. Arun K. Bajoria, recently spoke to the respected Indian daily publication Hindu Business Line regarding the steps his company was making towards realising its aims. “The expansion will be across the four existing facilities and the investments would be spread over the next three years,” he stated. “But in the next 12 months we would be first investing around Rs 120 crore (£15 million) for increasing the capacity by around 50 per cent in the off the road tyres segment used by the mining, cement, coal and earth-moving sectors.”

22nd May 2007/by Tyrepress Editors

Name Change for India’s JK

India’s third largest tyre manufacturer, J.K. Industries, have announced that their company name is to change to JK Tyre and Industries, with effect from May 23,2007.

18th May 2007/by Tyrepress Editors

JK Tyres Sales & Profit Up

For the quarter ending March 31, 2007 JK Tyre & Industries Ltd posted a net profit of £2.64 million as compared to £435,460 in the corresponding previous quarter. Net sales for the period increased 19.48 per cent to £91.35 million from £76.45 million a year earlier. The company’s net profit during the first half of the current fiscal year stood at £1.68 million, compared with £439,000 during the first six months of 2005-06. Net sales rose 17.13 per cent to £194.73 million from the previous year’s total of £165.26.

At present JK Tyre is the undisputed leader of India’s truck and bus radial market with a market share of close to 80 per cent. The company’s light truck and passenger car radial market segments, while not reaching these levels, are still a healthy 25 and 24 per cent respectively. JK Tyre also enjoys a market share approaching 23 per cent in the nylon truck tyre segment.

14th May 2007/by Tyrepress Editors

MRF Tops India OE Tyre Study

(Akron/Tire Review) India’s MRF received the highest customer satisfaction scores in the recent JD Power & Associates Asia Pacific 2007 OE tyre survey.

The study considers new-vehicle buyer perceptions of OE tyre appearance, durability, ride quality, traction and handling.

MRF ranked highest overall, scoring 840 points out of a possible 1,000 points. It marked the fifth time MRF topped the OE study list.

JK Tyre followed in the rankings with 822 points, while Apollo garnered 812 points.

8th May 2007/by Tyrepress Editors

JK Industries to Double OTR Production

JK Industries Ltd. plans to invest up to 1.2 billion rupees (£13.9 million) doubling production of OTR tyres over the next 18 months, according a senior official from the company. This decision is a logical one for the tyremaker, owing to the fact that the net profit margin for the OTR segment is 6 per cent, nearly three times that of truck and passenger car tyres.

31st January 2007/by Tyrepress Editors

JK Industries MD Receives Doctorate

Mr Raghupati Singhania, vice chairman and managing director of JK Industries Limited has received an honorary doctorate in science at the seventeenth convocation of Mohanlal Sukhadia University at Udaipur by Her Excellency, Smt. Pratibha Patil, Governor of Rajasthan. The degree was conferred in recognition of Mr Singhania’s contributions towards encouraging education, training and research activities in Rubber and Allied industries in India.

3rd July 2006/by Tyrepress Editors

JK Tyre to Up Prices

According to JK Tyres’ CFO, A K Kinra, a 7 – 8 per cent price increase should offset increased rubber costs. “The increase in the cost is very high. There is no way the tyre industry can sustain on its own, so to take care of that cost increase, it has to go for a price increase. That has compelled us to increase tyre prices also,” Mr Kinra told India television news sources.

1st June 2006/by Tyrepress Editors

JK Tyre to Raise Prices

In India, Mr. A K Kinra, Chief Financial Officer of JK Tyre, has said that the company will increase tyre prices by up to eight per cent from 1st June, explaining that the step was necessary to offset growing raw material costs, notably the rising price of rubber. He said that, in Malaysia, the price of rubber has risen by 85 per cent in a year and, as rubber constitutes up to one third of the cost of raw materials, the price increase was inevitable.

30th May 2006/by Tyrepress Editors

MRF Comes Top of Indian OE Satisfaction Survey

MRF moves up three rank positions from 2005 to rank highest in customer satisfaction in the JD Power Asia Pacific 2006 India Original Tire Customer Satisfaction Index (TCSI) Study. This is the fourth time MRF has ranked highest in the study. The study, now in its sixth year, analyzes perceptions of new-vehicle buyers on five critical factors: appearance of tyre, durability of tyres, ride quality, traction and handling.

13th April 2006/by Tyrepress Editors

JK Industries Back in the Black

JK Industries Ltd, the manufacturer behind the JK Tyre and Vikrant brands, recorded a turnover of 6.52 billion rupees (£83 million) between October and December 2005, a 30 per cent increase over the corresponding quarter of the previous year.

The quarter-end results also showed that the company’s Operating Profit (EBIDTA) has increased 100 per cent to 380 million rupees and the Profit Before Tax also registered an increase at 48.2 million rupees against a loss of 49.3 million rupees in the corresponding quarter of the previous year. Net profit was up at 24.7 million rupees against loss of 92 million rupees during the same period year ago.

23rd January 2006/by Tyrepress Editors

India: Tubeless Sales Remain Flat

Tubeless tyre sales in India remain flat despite the best promotional efforts of manufacturers. According to the Business Standard, tubeless products “have failed to impress buyers.”

“The infrastructure development and the road conditions have not kept pace with the technology development. The sales of tubeless tyres is restricted to the higher segment premium cars and still not many here are aware about the benefits of tubeless tyres,” said the regional service manager of JK Tyre.

8th December 2005/by Tyrepress Editors

JK Tyre to Invest 1.2 billion Rupees in Radial Tyre capacity

(India/Rubber Asia) JK Tyre chief RP Singhania recently announced that his company plans to increase annual production of truck and bus radials to 1.5 million units by 2010. At the same time Mr Singhania spoke of his confidence that India’s road infrastructure “is getting better now.”

JK Tyre told local media that the company plans to invest 600 million rupees in alternate years in its Mysore (South India) plant to increase the capacity from its current annual capacity of 370,000. JK currently holds an 85 per cent market share in the radial tyre segment.

28th October 2005/by Tyrepress Editors

JK Tyre Plans to Double OTR Sales

(India/Rubber Asia) JK Tyre, one of India’s Big 3 tyre makers, is planning to double its turnover in the off-the-road segment from 350 million to 700 million rupees (roughly £4.35 million – £8.7 million) by next year, local media has reported.

The company is also considering manufacturing tyres for 50 tonne rigid-frame dump trucks and 85 tonne trucks. It currently makes tyres for 35 to 40-tonne dump trucks. These, made for dumpers used in mining and quarries cost between 60,000 and 200,000 rupees (£750 – £2500).

9th September 2005/by Tyrepress Editors