Tyre Makers Go Global
(Akron/Tire Review – Korean Times) Korean tyre makers are going global and setting up operations overseas – Hankook Tire is constructing a factory in Hungary, Kumho in Vietnam and Nexen in Qingdao, China.
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Stapleton’s Launches Improved Nexen Dealer Programme
Product NewsStapleton’s, one of the largest UK passenger car tyre wholesalers has launched a revised Nexen Key Dealer Programme. The scheme, aimed to reward valued customers, includes benefits available to those registered onto the programme. Members will benefit from a personalised reward scheme, can enjoy preferential purchasing prices, in store support in the form of leaflets and posters, branded merchandise and lifetime guarantees on products. Each member will also receive a dealer reference catalogue.
Nexen Tire to Raise Prices in November
Product News(Akron/Tire Review) Ontario, California-based Nexen Tire America Inc. announced price increases on passenger and light truck tyres that will take effect 1 November. The increases, up to 6 per cent, will vary by distribution channel and product line. The main reasons for the price hikes include rising raw materials, transportation and operating costs, according to Nexen.
Nexen Opens Shanghai Offices, Eyes China Growth
Product News(Akron/Tire Review) Nexen Tire opened a branch office in Shanghai, China, earlier this month, which company officials said will spur its penetration in the Chinese tyre market. The new office will join a tyre plant Nexen is constructing in Qingdao, Shantung, which broke ground last May. The new plant will cover some 5.7 million square feet – among the largest in China – and have a final capacity of 20 million per year, Nexen said.
Zisser Tire’s Increasing European Presence
Product News“It has been a meteoric rise for us in Europe”, said the company’s, Tim Mahowald. “We have obviously been helped by the fluctuation in currency between the US dollar and the euro resulting in a consistent annual increase in Export sales since 2002. We are also one of the fastest growing high performance tyre wholesalers in the USA with annual sales exceeding $119 million. Our current inventory of over 150,000 UHP tyres offers a wide range of brand names. For the last four years Zisser has been the exclusive importer of the Wanli brand for the USA”.
Nexen to Increase Prices 1 July
Product News(Akron/Tire Review) Nexen Tire America Inc. said it will boost prices on all of its replacement passenger and light truck/SUV tyres sold in the U.S. by up to 5 per cent. The increases will take effect on 1 July.
Lexani, Nexen and Zisser Tire Jointly to Market New UHP Brand
Product NewsLexani Wheel Corp has moved into the tyre business, collaborating with South Korean manufacturer Nexen and distributor Zisser Tire. The ceremonial signing of the collaboration took place 20 January 2006 in Irvine, California. Zisser will market the tyres exclusively, worldwide.
Deldo’s Increasing Exclusive Brand Winter Sales
Product NewsSales of exclusive brands are on the up, Belgian wholesale Deldo has reported. According to the company, its Eurowin, Wanli and Sunny brands make all the difference when it comes to winter sales. This year Deldo says it has increased its capacity of Nexen-produced brand Eurowin up to 550,000 tyres. Furthermore the company claims to have sold approximately half a million already, with over 60 per cent being delivered in the last three months. As far as the South China Tire Company-produced Wanli and Sunny brands are concerned, Deldo reports that stocks of Wanli have already sold out, with only five per cent of its Sunny tyres left.
Federal and Nexen Announce Price Increases
Product NewsFederal and Nexen have announced price increases of up to five and 7 per cent respectively. Federal explained that some the announced price increases already took effect on the 1 April 2005.
Raw material price increases, rising energy and fuel costs, higher transportation costs as well currency appreciation have been cited as reasons for the price hike.
According to Federal, “the present price increase does not fully absorb and reflect its increase in costs.” The company has yet to decided whether or not there will be further price increases in the third quarter.
Stapletons Extends Jupiter/Nexen Distribution
Product NewsStapletons has announced that it will extend the distribution of Jupiter/Nexen tyres. The company exclusively distributes the South Korean ultra-high performance tyres, which are available in more than .”
Strike At Cord Manufacturer Affects Korean Manufacturers
NewsThe largest supplier of tyre cord in Korea, Hyosung Corporation, is currently suffering a strike. The country’s three tyre manufacturers, Hankook, Kumho and Nexen, have all expressed concern if the strike is prolonged. To obtain sufficient supplies of tyre reinforcing materials, the companies have been talking to Kolon Industries, the second largest supplier of these materials, and are also investigating the possibility of sourcing outside Korea.
Woosung change of name
Product NewsAt a special ceremony in Seoul, Korea, Woosung Tire Corporation has now announced that from 10th February they would be known as Nexen Tire Corporation. The company’s new corporate identity will be made public in the near future.
