latin Archives - Page 8 of 19 - Tyrepress

Posts

Latest Rhein Chemie Acquisition a ‘Springboard’ for Further Investments

In the coming years, Lanxess subsidiary Rhein Chemie plans to expand its production of curing bladders for the tyre industry. These plans have been given a boost by its acquisition of Argentina based curing bladder and release agent manufacturer Darmex S.A. for an undisclosed sum. As a result of the acquisition, Lanxess reports that Rhein Chemie will become one of the “world’s leading providers of release agents for rubber products in a highly fragmented market.” Rhein Chemie will also acquire Darmex’s bladder technology in Latin America, a key production hub for leading tyre manufacturers. The release agents and bladders belonging to Darmex will be branded under Rhein Chemie brand name.

12th January 2011/by Tyrepress Editors

Suntrac Brand Makes its Debut, PCR Line to Follow

International News

One brand Tyres & Accessories met for the first time in Shanghai (at the recent Reifen China exhibition) was Suntrac, which is produced by Dubai-based Sun Global Fzco at partner factories in China and a joint venture in Sri Lanka. The company also produces Nison brand truck and bus tyres which, a brand that was established nearly six years ago.

Currently the business focuses on the manufacturing and international distribution of bias and radial light truck, truck and bus, and off-the-road tyres distributed globally under the Suntrac name. However executive director Nitesh Shewakramani told T&A that the company plans to launch a comprehensive range of PCR & SUV as well as solid and implement tyres by mid 2011. Product wise the company currently offers over 20 different truck fitments across 16 different tread patterns.

3rd December 2010/by Tyrepress Editors

Ceat Ltd. Acquires ‘Ceat’ Name from Pirelli, Pushes Exports

India’s Ceat Ltd. now holds global ownership of the ‘Ceat’ brand name after purchasing the rights from Pirelli & C. SpA for nine million euros. The company is said to have made an upfront payment of 4.5 million euros to Pirelli with a bank guarantee for the balance. The purchase allows Ceat to export tyres under the eponymous brand anywhere in the world, and Ceat shares jumped 7.4 per cent to 138.85 rupees as details of the deal became known.

29th November 2010/by Tyrepress Editors

Pirelli's Mexican Plant to Have 5 million UHP/HP Capacity by 2015

Pirelli's new manufacturing facility, which the tyre-maker announced last week, will be located in Silao, Mexico, about 400 kilometers from Mexico City, reports Tire Review. The $210 million plant, which will produce high-performance and ultra high-performance tyres for cars and light trucks, will generate 700 direct and 300 indirect jobs in the local Silao area. The facility will cover an area of 120,000 square meters and will be operational in 2012. Targeted daily production capacity is 10,500 tyres with an annual capacity of 3.5 million units in 2014 increasing to approximately 5 million units by 2015.

12th November 2010/by Tyrepress Editors

Hankook Continues to Grow Sales in Q3, Operating Profit Down

Record quarterly sales in the emerging markets of Korea, China and Hungary helped Hankook achieve growth in sales following the slight downturn in 2010’s second quarter, though year-on-year operating profit remained 40.6 per cent down on the Korean manufacturer’s 2009 results. Sales topped 1.5 trillion South Korean won (£840 million), recording 7.1 per cent year-on-year increase. The company’s third quarter operating profit was KRW163.4 billion (£91.5 million), 8 per cent down on the second quarter, where rising raw materials costs have continued to be a factor. Hankook stated it aims to achieve a sales target that exceeds KRW5 trillion (£2.8 billion) this year.

27th October 2010/by Tyrepress Editors

Latest Pirelli Figures Show Tyre Market Was Strong in 3Q 2010

Pirelli’s latest “Tyre Market Watch” figures show that first half 2010 passenger car tyre volumes increased by approximately 20 per cent. Third quarter volumes are said to have remained strongly in the double digit growth range, but moving at roughly half the pace of the first half at +10 per cent. Truck tyre volumes were said to have been much stronger growing at +20 per cent and +25 per cent respectively.

19th October 2010/by Tyrepress Editors

Goodyear Names New Latin America President

Goodyear has announced the appointment of Jaime Cohen Szulc as president of its Latin American region. Szulc will report directly to Goodyear's chairman-elect, chief executive officer and president Richard J. Kramer. Szulc succeeds Eduardo A. Fortunato, 57, who earlier this year announced his intention to retire at the end of 2010.

15th September 2010/by Tyrepress Editors

Sibur-Russian Tyres to Supply Cuban State

Sibur-Russian Tyres has been awarded a US$8 million contract to supply Cuba’s Ministry of Agriculture with tyres. Under the arrangement the Russian tyre maker will ship 40,000 truck and agricultural tyres to the Caribbean nation. Sibur-Russian Tyres states the decision to participate in the tender process for this contract lines up with its strategy of entering the Central and Latin American markets. The company has already entered into contracts to supply products to Brazil, Venezuela and Ecuador.

26th August 2010/by Tyrepress Editors

TGI Opens Brazil Branch

Tire Group International has opened a new sales office in Sao Paulo, Brazil, which will be led by Rosana Sanchez. “Having been an integral part of our team in Miami, Fla., for numerous years, Rosana has relocated to Brazil, where she will spearhead our local marketing and sales initiatives, which will give an even greater reach to our exclusive and private-label brands,” said Orlando Delgado, TGI’s senior vice president of business development

19th August 2010/by Tyrepress Editors

Latin America, Asia Synthetic Rubber Demand Behind Lanxess Q2 Earnings Growth

Upon releasing chemical manufacturer Lanxess AG’s financial results for the second quarter of 2010, the company’s Board of Management chairman Axel Heitmann commented on the ten best-selling Lanxess products: “This list features eight rubber products from the Butyl Rubber and Performance Butadiene Rubbers business units for the manufacture of tyres,” he stated.

10th August 2010/by Tyrepress Editors

Reasonable First Half Growth for Goodyear in EMEA, North America

Goodyear has experienced a reasonable second quarter of this financial year in the Europe, Middle East and Africa segment, where second quarter sales increased 5 per cent to $1.5 billion. This was primarily due to a 6 per cent increase in tyre unit volume and strong price/mix performance, according to the company. In worldwide results, the company’s sales were $4.5 billion, up 15 per cent from 2009. Second quarter sales reflect the $304 million impact of a 10 per cent increase in tyre unit volume in response to improved global demand.

30th July 2010/by Tyrepress Editors

MAI Hails Panama Show ‘A Great Success’

Following its appearance at Reifen 2010 in Essen and, just four weeks later, Italian radial OTR tyre manufacturer MAI International took part in the Latin American & Caribbean Tyre Expo, held on the other side of the world in Panama City. MAI Group CEO Ian Thomas declared the event "a great success", saying: "It was a terrific show for us and proved an ideal showcase for our MAXAM range of OTR tyres."

He went on: "This is the first time we have exhibited at a show in this region and, not only was there a lot of interest shown in our products, but we did some very good business and took a number of firm orders for tyres."

20th July 2010/by Tyrepress Editors

Hankook Sees Q2 Profits Surge

Hankook Tire reports its profits in Korea jumped 22.4 per cent in the second quarter of 2010 to KRW 822.3 billion (£443.1 million), a figure the Korean tyre maker claims to be its highest ever quarterly result. This quarter high water mark was achieved on the back of a 13.0 per cent year-on-year increase in global consolidated sales, to KRW1.4 trillion (£754.4 million) and a 22.7 per cent year-on-year growth in operating profit to KRW 177.7 billion (£95.7 million).

20th July 2010/by Tyrepress Editors

Interstate to Share Brityrex Stand with Armagh Tyres

Armagh Tyres is to share a stand with Dutch-based firm Interstate at Brityrex International, at Manchester Central (formerly the GMEX) in October. Interstate vice president Theo de Vries, said: “We are delighted to be exhibiting a Brityrex and will be working closely with our colleagues from Armagh Tyres. In particular we will be focussing on the brand new Interstate ECO Tour Plus tyre and our expanded Ultra High Performance range.”

Speaking to Tyres & Accessories earlier this year, company representatives said Interstate’s current performance was outpacing market growth: “Interstate’s successful execution of its unique marketing strategy has produced units sales growth that has consistently outpaced that of the replacement tyre industry.”

16th July 2010/by Tyrepress Editors

Eighth CITExpo to Open with Chinese Tyre Exports Continuing to Rise

Wilko Fong, the managing director of Reliable International Exhibition Services, is buoyant about the upcoming CITExpo 2010. Suggesting that the recent economic turmoil has come to an end, Fong believes the worldwide economies are on the up and one of the areas in which this has been most prevalent has been the tyre industry, especially in China, which has become the top ranked tyre exporting country. According to export figures released by Chinese customs, Fong continues, in the first quarter of 2010 the quantity and value of exported tyres to Latin America, Europe and Asean has risen from 20 to 40 per cent from the major ports, such as Shanghai, Guangzhou and Tianjin. “We can also observe the recovering market from the enthusiasm of the exhibitors and pre-registered visitors of CITExpo 2010,” he continued.

30th June 2010/by Tyrepress Editors