(Akron/Tire Review) Kumho Tire USA Inc. will increase prices on its passenger, light truck and commercial truck tyres, effective 1 July. Prices will increase up to 7 per cent, depending on tyre model. David Hudrlik, vice president and director of sales, said continuing price increases for raw materials and rising transportation costs were reasons for the increase.
Tomahawk, the UK’s pioneering manufacturer of retread radial motorcycle tyres, has added a 200 section tyre to their range in response to steadily increasing demand from British and European riders. The British company is gearing up production in anticipation of EU legislation that will come into force in June this year. The Landfill Directive (1999) bans the disposal of all waste tyres in landfill sites. With over 2.5 million tonnes of waste tyres arising in Europe each year, of which over 1.3 million tonnes were disposed of in landfill, creating a significant problem for disposal businesses.
(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.
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.
(Akron/Tire Review) Hankook Tire America Corp. is raising prices by up to 5 per cent on all of its passenger, light truck/SUV and medium truck tyres as of 1 July. Hankook said the increases will vary by line and tyre size.
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.
(Akron/Tire Review) Hankook Tyre America Corp. is raising prices by up to 5 per cent on all of its passenger, light truck/SUV and medium truck tyres as of July 1. Hankook said the increases will vary by line and tyre size.
(Akron/Tire Review) Goodyear Tire & Rubber Co. share prices dropped to a new 52-week low May 22 after an industry analyst downgraded the company’s stock. Goodyear’s stock fell as low as $12.22 per share in trading Monday before finishing the day at $12.71, down from the previous low of $12.78 per share, according to exchange reports.
Publishing its full-year 2005 results Apollo Tyres Ltd has reported that it has crossed the 30 billion-rupee turnover mark, compared 26.56 billion the previous year. Operating profit soared 35 per cent to 2.22 billion rupees while net sales grew 18 per cent to 2.64 billion rupees.
Marangoni Retreading Systems (Marangoni Tread SpA and Ellerbrock Reifenrunderneuerungs-Technologie GmbH) have announced a 4 – 5 per cent price increase on all pre-cure retreading brands and product lines. The increase will be applied from 3 July 2006 in European, East European and Mediterranean countries.
(Akron/Tire Review) Continental Tire North America (CTNA) has announced a tire price increase, effective July 1. CTNA will boost prices on all of its replacement passenger and light truck/SUV lines by up to five per cent, with the precise increase varying by line and size. The increase covers all Continental, General and private brand tyres and CTNA said the increase will impact all replacement channels.
Goodyear Tire & Rubber Co. has said that it has doubled the amount of synthetic rubber it can substitute for natural rubber as it looks to control costs. Over 15 per cent of the natural rubber used in Goodyear tyres can now be replaced by synthetic compounds developed by the company, said company spokesman Keith Price. This compares with a previous figure of eight per cent.
Tire Group International, Inc. describes itself as “a premier tyre distributor”, and is the largest Hispanic-owned tyre distributor in the US, serving all of Latin America, Central America, and the Caribbean, as well as the rest of the world. In addition to its Miami facilities, there are distribution centres in Mexico and Puerto Rico to better serve clients.
Hankook Tire has announced that it has developed an “ultra fuel efficiency tyre” called the fx-Optimo, which the company claims “drastically maximizes fuel efficiency” by lowering rolling resistance. The company has spent five years and 10 billion won developing the new tyre and has hinted that this release will form the basis of a “green strategy” that will target the hybrid vehicle market.
Hankook reports that compared to existing tyres of the same size, the new tyre boasts 25 per cent lower rolling resistance, for a maximum 3 per cent improvement in fuel efficiency. In addition the tyre is said to exhibit enhanced wet braking and control characteristics compared to existing tyres.
(Akron/Tire Review) Bridgestone Australia barely posted a profit for the first quarter of 2006 thanks to rising raw material costs, the company said. The company posted after tax profits of $270,000 (Australian dollar), down from $2.1 million for the same period last year, against sales of $124.9 million, up 1.2% from last year.
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