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Yellow Sea to Expand Capacity

Company News, International News

Approximately £90 million is said to be earmarked for Qingdao Yellow Sea Rubber to assist it move production to a new facility. This money is to come from controlling company China National Chemical Corporation (ChemChina), and the move of production from its headquarters to an industrial park will allow an increase of all-steel radial capacity to 1.8 million units per annum in 2008, and when its semi-steel radial production moves later the overall annual capacity in the facility will be 3 million units. Additional all steel and semi-steel capacity will be added, with all construction expected to be completed by the end of next year.

8th April 2008/by Tyrepress Editors

50 Years of Recycling

Eldan Recycling A/S has been supplying plant and machinery to the Recycling Industry worldwide for more than 50 years. The company specialises in machinery aimed at the tyre business, but also helps with this disposal of Dry and Jelly Cable Scrap; Rejected Die Cast Magnesium; Aluminium Scrap; and Waste Electronic and Electric Equipment (WEEE).

7th April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Annual Profits More than Double for Sibur-Russian Tyres

SIBUR Holding JSC reports that its Sibur-Russian Tyres JSC (SRT) operation generated 23,777 million roubles (£508 million) in revenue in the year ended December 31, 2007, an increase of 25.2 per cent on the 18,989 million (£406 million) of a year earlier. Operating profit, at 592 million roubles (£12.6 million) was a healthy 212 per cent above the previous year’s figure. In the absence of income tax or other costs, net profit for the year also stood at 592 million roubles.

Broken down into product segment, the total SRT tyre sales of 23,777 million roubles were largely made up of truck tyre sales, which stood at 13,385 million roubles (£286 million), a 26.4 per cent per cent increase on 2006 sales. Passenger car tyre sales, at 6,279 million roubles (£134 million) increased year on year by 27.4 per cent, and other tyre (including aircraft and agricultural) sales increased 18.4 per cent to 4,113 million roubles (£88 million).

3rd April 2008/by Tyrepress Editors

Wondermask WPS Speeds Wheel Refurbishment

Cumbrian Marketing has introduced what it describes as “a speedy and simple solution to alloy wheel refurbishment.” Called Wondermask WPS (Wheel Paint System), it is a fast and convenient way to mask wheels prior to refurbishment, saving both time and money.

The fitter should deflate the tyre and break the sealed bead (there is no need to remove the tyre from the rim), place the Wondermask WPS between the rim and the tyre, stretch it until it becomes fixed around the full wheel rim and secure it to the underside of the tyre before painting. The whole process, says Cumbrian Marketing, takes less than two minutes, compared with up to 15 minutes if using tape and paper.

3rd April 2008/by Tyrepress Editors

MITAS Announces 25-Inch Earthmover Tyre, Further Sizes to Follow

Czech Republic based manufacturer MITAS a.s. is expanding its Mitas brand earthmover radial range with the addition of a 25-inch size. The company reports that trial production of this new product is already underway, and serial production will commence in the second half of the year.

The new earthmover radial is suitable for all wheel loaders and articulated dumpers, and Midas has plans to make further additions to the line-up. “When the first stage of the project, the EM-radial-tyres in 25 inch, is successfully completed, the second stage of the project, the production for EM-radial-tyres up to 33 inch will be implemented”, said Dr. Jaroslav Čechura, general director and chairman of the Board at MITAS a.s.. “The total investment for the Mitas earthmover radial tyre project amounts to ten million Euros.”

31st March 2008/by Tyrepress Editors

Revenue Down, Losses Up at SmarTire

Manufacturer of active TPMS systems, SmarTire Systems Inc, has announced that company revenue in the second quarter of the 2008 financial year decreased to US$740,848 from the $946,665 attained in the second quarter of last year. Six-month revenue for the period ending January 31, 2008 also decreased from a year earlier, down to $1,663,874 from $1,798,444.

SmarTire’s net loss for quarter two 2008 was $8.2 million or ($0.01) per share compared to a net loss of $5.3 million or ($0.02) per share in the same quarter of 2007. Net loss for the six months ended January 31, 2008 was $13.5 million or ($0.02) per share as compared to a net loss of $10.6 million or ($0.05) per share for the six months ended January 31, 2007. In the second quarter of 2008, SmarTire’s net loss from operations decreased by 33 per cent to $1.4 million from $2.1 million in quarter two of 2007. Net loss from operations for the six months ended January 31, 2008 decreased by 41 per cent to $2.6 million from $4.4 million for the six months ended January 31, 2007. SmarTire’s net other expenses increased by $3.6 million in the second quarter 2008 to $6.8 million. Net other expenses increased by $4.8 million to $11.0 million for the six months ended January 31, 2008, primarily due to an increase in non-cash interest and financing charges.

25th March 2008/by Tyrepress Editors

Bridgestone China Opens Test Facility

On March 14 a ceremony was held to officially mark the opening of Bridgestone China’s new tyre testing facility in Yixing City, Jiangsu Province. More than 100 people attended this significant occasion for the tyre major’s Chinese operations, including Hideki Yokoyama, vice president and officer for Product Planning and Business Development, numerous municipal and city officials and media representatives.

At the opening ceremony Mr. Yokoyama commented that the new Bridgestone (China) Tire Assessment & Development Co., Ltd. test facility would further strengthen the development of Bridgestone’s tyre production and sales in China, and thus contribute to the development of China’s automotive industry.

20th March 2008/by Tyrepress Editors

Continental’s Romania Headcount Set to Reach 7,500

Continental AG is reportedly set to recruit another 1,350 people for its factories in Timisoara, Carei and Arad, Romania, by the end of the year. As a result the total employees count in the area is expected to reach 7,500. Continental’s tyre factory in Timisoara intends to hire 200 people during the course of 2008, Bucharest’s Ziarul Financiar reported. Currently, Continental runs five production facilities in Romania with 6,150 employees, a figure that includes 2,300 graduate engineers. If the proportion of engineers remains the same, the company will recruit around 500 engineers this year.

19th March 2008/by Tyrepress Editors

Indian Tyre Manufacturer Set To Take Off

Tyre makers and automobile component manufacturers in India are now venturing into the production of aircraft components. India-based MRF Tyres, Minda NTS and Sundram Fasteners are going ahead with plans to supply components to aircraft manufacturers.

17th March 2008/by Tyrepress Editors

Hankook Considering 3 Sites for Next Overseas Plant

Mexico, Russia and Vietnam are reportedly under consideration as potential sites for Hankook Tire’s third facility to be built outside of Korea. A final decision is most likely to be made in the second half of the year, however it appears that Vietnam may be the strongest contender in the running.

Last November chief executive Suh Seung-Hwa said Hankook was considering building another production facility overseas after it completed its Hungarian facility, the next stage of which should be finished in 2010.

13th March 2008/by Tyrepress Editors

Watts Raises Forklift Tyre Prices 6-10%

With raw material prices hitting an all time high, Watts Tyre Group chief executive, Jean-Paul Mindermann has announced a price increase of up to 10 per cent, warning the Forklift truck industry that “tyre prices will continue to rise” and OEM dealers “must adapt to the new paradigm. “At the end of the third quarter of 2007 we announced that we would be reviewing prices on a quarterly basis due to the soaring price of natural rubber. As a result of that continued rise in raw materials costs we are today announcing a price increase of between 6 and 10 per cent depending on country and currency,” Mindermann said in a statement.

Mindermann blamed the increase on soaring rubber prices, driven by the Indian and Chinese automotive sectors and “limited worldwide rubber production.”

11th March 2008/by Tyrepress Editors

Conti May Merge Siemens VDO Facilities – Wennemer

According to Continental CEO Manfred Wennemer, the merger of some of the Siemens VDO production plants Conti acquired last year remains a possibility. In an interview with the German business magazine WirtschaftsWoche, Mr. Wennemer said “we have 200 plants in 36 countries. We certainly do not need all of these plants. One has to combine them in order to improve the manufacturing capacity of each of these plants.”

While the CEO did not elaborate on which facilities may be affected, he used the manufacture of airbags as a case in point: “We make airbags in Regensburg and Ingolstadt (Germany), in America, China and South America. We will examine which are the most competitive. And we will decide to produce the airbags there.”

10th March 2008/by Tyrepress Editors

Goodyear Topeka Plans Six-Day Shutdown

Goodyear Tire & Rubber Co. will shut down its radial truck tyre production for six days during the Easter holiday, reportedly because of a slowdown in commercial truck tyre sales. According to Goodyear spokesperson, Lisa Spangler-Ignoto, the company’s off-road tyre business and military tyre business remain strong and will continue operating in Topeka. Several hundred employees would be affected by the six-day stoppage, she added.

“In an effort to match production levels with customer requirements in the commercial truck business, Goodyear Topeka will be reducing medium radial truck production for six days in conjunction with the Easter holiday,” the company said in a statement. “The Topeka plant will continue to run normal operations to support the off-the-road and military tyre markets during that period.”

7th March 2008/by Tyrepress Editors

US Firm Invests $25 Million in Bangladesh Tyre Plant

Leviathan Global Corporation, a US-based company, has signed an agreement to invest US$ 70 million in a tyre production plant and 50 megawatt power plant in Bangladesh’s Karnaphuli Export Processing Zone (KEPZ). According to initial reports $25 million will be invested in building a tyre production facility that will employ 300 local people. According to local new sources, the agreement was signed on 2 March 2008 at Bangladesh Export Processing Zones Authority (BEPZA) complex.

4th March 2008/by Tyrepress Editors