joint venture Archives - Page 17 of 24 - Tyrepress

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Pirelli Opens First Tyre Plant In China

Pirelli executives Marco Tronchetti Provera and Francesco Gori have attended the opening ceremony of the company’s first tyre plant in China. The joint venture facility is split 60:40 between Pirelli and the Yinhe Group (Roadone Tyres) respectively, with the Italians planning to gradually increase their share in the coming years. The new plant’s is about half a million radial truck tyres, a number that will soon be raised to 1.2 million tyres per year. The tyres produced in the new truck tyre factory will be sold in China, South East Asia and Australia.

12th October 2005/by Tyrepress Editors

EnTire Solutions Launches for 2006 Hyundai/Kia Models

EnTire Solutions, the joint venture between Michelin and TRW Automotive, says it will increase its direct tyre pressure monitoring system (TPMS) presence in North America for the new 2006 Hyundai Tucson and the 2006 Kia Sportage.

30th September 2005/by Tyrepress Editors

Goodway Considers Chinese Compounding Plant

Goodway Rubber chief executive, Tai Boon Wee, has spoken of the company’s plans to build a Chinese compounding plant. “Goodway is looking into the possibility of setting up a rubber compounding plant, possibly in Dongguan in China, via a joint venture with a local partner,” Mr Tai said.

13th September 2005/by Tyrepress Editors

Pirelli Supports Ferrari Tour

Pirelli is to fit its UHP tyres to two Ferrari 612 Scaglietti’s which will tour China starting from Shanghai on 29 August.

The manufacturer has agreed to support Ferrari due to the ever-increasing importance of the Chinese market to the company. A joint venture agreement was recently signed for the production of tyres in the province of Shandong, one of the areas of the tour.

26th August 2005/by Tyrepress Editors

Ansell Announces Board Appointments

Ansell Ltd. (Australia/Goodyear’s joint venture partner in South Pacific Tyres) announced the appointment, effective 9 August 2005, of Mr Peter L Barnes as Chairman of the Board of Directors to succeed Dr Edward D Tweddell, who died on 4 August. Mr Barnes has been a Non-executive Director since October 2001. He has been Chairman of Ansell’s Audit Committee and is a member of its Nomination, Remuneration and Evaluation Committee.

10th August 2005/by Tyrepress Editors

Cord Romania Open for Business

Pirelli and Continental opened their 80:20 joint venture Slatina steel cord production plant, Cord Romania on Friday.

The factory is located on a 100,000 square metre area will have an annual output of 30,000 tons of steel cord and employs 350 people. The steel cord is destined for tyre production in East European markets.

The new facility will require an investment of 40 million euros over several years to meet growing demand which is already almost two times supply says Continental.

This investment is the first ever made by Pirelli Tyres in the Balkan region and is part of the company’s expansion strategy in Romania. The manufacturer also plans to open a new high performance car tyre plant in Slatina in 2006.

25th July 2005/by Tyrepress Editors

Lanxess Announces Chinese Tyre Joint Venture

Lanxess has announced that it is strengthening its position in the Chinese tyre market by entering into a joint venture with Anhui Tongfeng Electronic Co Ltd. The agreement will see the company produce rubber antioxidants for the tyre industry and is due to come on stream in the second half of next year, said Martin Wienkenhoever, a member of Lanxess’ board of management. “At present due to the [World Trade Organization] we see that the American and European market is shifting to China,” he said. “Some of (the investment) is a also going to India, Vietnam and other countries – but the mainstream companies are still going into China and the lower-end manufacturing is going to other destinations, but we are not so active in that.”

12th July 2005/by Tyrepress Editors

Omskshina Sales Drop 38 per cent

Omskshina, a subsidiary of Sibur, has released its full year 2004 and first quarter 2005 results showing sharp declines in sales and output. In 2004 tyre output fell 27 per cent year-on-year to 3.8 million units. At least part of this sizeable drop can be attributed to Sibur’s decision to transfer the production passenger car and light truck tyres to its Matador-Omskshina joint venture. Although to all intents and purposes this was a sideways move, the transition of these figures from one balance sheet to another, has obviously had a marked impact on Omskshina’s totals.

7th June 2005/by Tyrepress Editors

Michelin Raises Siam Joint Venture Stake to 90 per cent

Groupe Michelin will buy a 30 per cent stake in its Michelin Siam joint venture from partner, the Siam Cement Group, raising its stake in the venture to 90 per cent. In a statement published on the Siam Cement web site, the company announced that it will gain 3.3 billion baht (£44.6 million) between 2005 and 2008 as a result of plans to reduce its stake in the joint venture. The company plans to steadily reduce its stake in Michelin Siam to 10 per cent from its current level of 40 per cent beginning in the fourth quarter of this year, it said in a filing to the Stock Exchange of Thailand. In 2004, Michelin Siam recorded total revenue of 328 million euros.

2nd June 2005/by Tyrepress Editors

Copeland Named to Head Goodyear Australian JV

(Akron/Tire Review) Joseph Copeland, senior vice president of business development, strategy and restructuring, for Goodyear Tire & Rubber Co has been named CEO of Goodyear’s South Pacific Tyres subsidiary. Goodyear owns a 50 per cent share in the Australian joint venture. Mr Copeland will report to the South Pacific Tyres board of directors, as well as to Pierre Cohade, president of Goodyear’s Asia/Pacific tire business.

Darren Wells, Goodyear’s vice president and treasurer, was promoted to senior vice president of business development and treasurer, reporting to Richard Kramer, executive vice president and CFO. Mr Wells will assume Joseph Copeland’s business development responsibilities as well as additional oversight responsibilities for the investor relations and tax functions.

13th May 2005/by Tyrepress Editors

Omskshina to Transfer 50 per cent Matador-Omskshina Share to Sibur

JSC Omskshina intends to transfer its 50 per cent share in the CJSC Matador-Omskshina joint venture to Sibur-Russian Tires. Such a decision it is expected to be approved by shareholders at the annual meeting on 3 June 2005, Omskshina said.

63,329 common stock shares of the joint venture are expected to be transferred to Sibur-Russian Tires within the framework of the deal. Founded in 1995 CJSC Matador-Omskshina is a joint venture of Matador Holding (Slovakia) and JSC Omskshina.

3rd May 2005/by Tyrepress Editors

Chinese “Not Interested” In MG Rover

The UK Government and the administrators were informed this morning that SAIC “are not willing to acquire either the whole or parts of the MG Rover or Powertrain businesses on a going concern basis out of administration, nor are they willing to establish a UK joint venture incorporating the whole or parts of the MG Rover or Powertrain businesses.”

The administrator, PWC, has told the Government that it will not be applying for any further government loan to stave off redundancies at the company.

15th April 2005/by Tyrepress Editors

Joint Venture Maxxis International UK

Bickers plc (Felixstowe/Suffolk, England) issued new shares and formed a joint venture company with the long-term tyre supplier Cheng Shin Rubber Ind. Co. Ltd (CST). The new company will trade as “Maxxis International UK plc“ and be located at a new 3.5 acre site in Felixstowe, Britain’s biggest container port.

7th April 2005/by Tyrepress Editors

SmarTire Signs With Travel Technology Innovations

SmarTire Systems Inc has announced that it has signed an agreement with Travel Technology Innovations, LLC (TTI) to distribute SmarTire’s active tyre monitoring systems. TTI is a newly formed, Detroit based joint venture between Detroit Chassis LLC and Redmer Industries that was created to market and sell SmarTire products. Both companies bring an extensive and successful track record of supplying original equipment and aftermarket parts and services to the automotive, recreational vehicle and transportation industries.

16th March 2005/by Tyrepress Editors

Turkey to Privatise Telecom Company, Two Tyre Manufacturers Involved

The Turkish government is planning to privatise its national communications company, Türk Telekomünikasyon AS (Turk Telecom). Two tyre manufacturers have been linked to the prospective bidders. One of the favourites to complete the purchase is Oyak, the Turkish army pension fund, which is involved in a joint venture with Goodyear. But at the same time Telecom Italia, controlled by Pirelli, is also said to have a good chance of winning.

3rd March 2005/by Tyrepress Editors