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Michelin reaffirms 8% 2011 sales growth

Michelin’s third quarter financial report for 2011 has shown total net sales of 5.1 billion euros and nine-month total sales of 15.2 billion euros, figures that represent positive changes of 10.6 per cent and 17.3 per cent for their respective periods. Sales volumes were up 9.3 per cent, allowing the French giant to proclaim its results “solid” and to reaffirm “that growth in sales volumes should trend towards eight per cent by year end.” The company noted the “slower momentum” of the third quarter, particularly noticeable in the passenger car and light truck tyres segment, which was up only 5.9 per cent to 2.7 billion euros in the quarter. Michelin also said its “pricing policy added 10 per cent to nine-month sales growth”, offsetting “the full-year impact of higher raw materials costs”.

31st October 2011/by Tyrepress Editors

Bridgestone details spending with aircraft, mining expansion plans

Bridgestone has followed up its September “major strategic investment” announcement, detailing the $1.2 billion it will spend on OTR production facilities in North Carolina, with more details that suggest record spending levels to meet rising demand in emerging markets. The corporation released its Mid-term Management Plan 2011, covering the period 2012-2016 in which it set a target of a 6 per cent return on assets next year. The plan detailed “measures for expanding sales of strategic tyre products and improving its sales mix, maximizing operational rationalization, and thoroughly streamlining company assets.”

21st October 2011/by Tyrepress Editors

Longxing Chemical aiming to raise 400 million yuan in share issue

China’s Longxing Chemical Industry, which supplies carbon black and electricity to “major tyre makers” in the people’s republic is reportedly planning to raise 400 million yuan by issuing a maximum of 45 million shares at 9.26 yuan per share in a private placement.

19th October 2011/by Tyrepress Editors

Lower costs the aim of Nizhnekamsk SSC, Thai Eastern raw material agreement

A direct pay contract signed between Russian corporation Tatneft and Thai Eastern Rubber is hoped to reduce the procurement costs associated with raw materials for tyres. The agreement was signed following a Thai Eastern Group delegation visit to the Nizhnekamsk SSC tyre plant and Kama Research and Technology Center in Russia; this visit and meeting was initiated by OOO Tatneft-Neftekhim Management Company under the scope of implementing company policy of entering into direct pay contracts with raw material producers.

13th October 2011/by Tyrepress Editors

Lanxess to invest in Brazil facilities

Tyre industry customers will benefit from one of three recently announced Lanxess investments in Brazil. The company reported on October 6 that it will build two new plants at its Porto Feliz site, which is located State of São Paulo. One of these new facilities, run by the Lanxess subsidiary Rhein Chemie, will produce Rhenoshape curing bladders, a product used to give tyres their final shape and properties. The new Porto Feliz plant will also manufacture the rubber additive Rhenogran.

10th October 2011/by Tyrepress Editors

Price rise for Yokohama’s US consumer tyres

Prices for Yokohama’s consumer tyre products sold in the US will increase by as much as eight per cent as of November 1. Yokohama Tire Corporation director of sales, Shawn Denlein, says the new prices for its passenger, performance and light truck tyres are being introduced due to “the costs of raw materials, energy and transportation remaining at very high levels.”

7th October 2011/by Tyrepress Editors

Rubber prices remain stable, Thai floods make little impact

Recent flooding in Thailand has had less impact on natural rubber prices than may have been inspective. Deutsche Bank research shows that the impact on rubber supply has been “quite muted” and flooding around key plantations is not severe. As a result the spot price for natural rubber has reportedly continued its declining trend, hovering around US$4/kilo – a level last seen in March 2011.

7th October 2011/by Tyrepress Editors

US economic data lifts Asian rubber prices

Buoyed by better economic data from the US, natural rubber prices in Malaysia and Thailand increased for the third straight day. According to Bloomberg, March delivery natural rubber pricing increased 1.4 per cent to US$4,020 per tonne on the Tokyo Commodity Exchange. Rubber pricing also improved from the second quarter’s 15 per cent falloff.

6th October 2011/by Tyrepress Editors

Hangzhou ZhongCe grows and grows – but prudently

Without exception, Chinese tyre manufacturers aim their European market production at the budget segment, where they are most competitive. However the ‘cover charge’ costs for entering the European market – the expensive testing for REACH and the tyre label – plus swelling production costs in China due to raw material and labour expenses are reducing their competitiveness in Europe. Any manufacturer wishing to build up long-term customer relationships and secure a healthy market share without needing to rely upon spot market brokers and purchasers must therefore focus upon their distribution channels and, in particular, deliver a product whose quality is far removed from the old ‘low budget equals low quality’ stereotype. One company already taking considerable steps in this direction is Hangzhou ZhongCe; recently the company allowed its European customers a glimpse behind the scenes at its factory in China and discussed its plans for the future.

5th October 2011/by Tyrepress Editors

“Re Tyre" aimed at securing the future of medium-sized retreaders

Now that its financing appears secure and all pertinent formalities are expected to be sorted out in Brussels any day now, work linked to the “Re Tyre” project is now ready to commence. With the aid of results gained from this study one of its backers, the European retreading association BIPAVER, aims first and foremost to secure the continued existence of medium-sized retreading businesses.

5th October 2011/by Tyrepress Editors

Is the sun setting in the East?

International News, News

Much has happened in the European tyre market in recent times. Last year’s introduction of the REACH regulations has been of particular interest, as is the run-up to November 2012’s tyre labeling. The second of these has been interpreted by many Chinese tyre makers and distributors as being, in practical terms, a trade barrier intended to make entry into Europe more complicated and expensive. Yet the Chinese appear to be responding pragmatically to the ‘problem’ of Europe. During the CITExpo show in Shanghai the opinion was often voiced that no real problem as such exists, rather a challenge to overcome. And as hardly anyone in China doubts success in this area, in future established western manufacturers in our part of the world can expect the presence of even more competitive, driven Chinese companies.

4th October 2011/by Tyrepress Editors

Analysts: Natural rubber prices to average $5.10/kg in 2012

Natural rubber prices should average $5/kg, $5.10/kg and $4.50/kg in 2011, 2012, 2013, respectively, according to a recent Deutsche Bank report. The stabilisation of prices that have been skyrocketing for the last few years is predicted as the Association of Natural Rubber Producing Countries, whose members produce 92 per cent of the world's supply, is expected to expand production by about 6.3 per cent in 2011. Production will grow another 6 per cent in 2012. Global production was about 10.4 million metric tonnes in 2010.

3rd October 2011/by Tyrepress Editors

Michelin partners with US firm to develop renewable isoprene

California-based renewable products company Amyris, Inc. reports it has signed a definitive agreement with Michelin to collaborate in the development and commercialisation of isoprene sourced from renewable feedstocks. The substance being developed, Amyris No Compromise renewable isoprene, is expected to be ready for commercialisation and use in tyre industry and other applications in 2015. Amyris says Michelin has committed itself to “off-take volumes” for a ten-year period. In addition, Amyris will retain the right under the agreement to market its renewable isoprene to other customers.

28th September 2011/by Tyrepress Editors

Bridgestone to increase European prices in Q4

A new round of Bridgestone Europe price rises will be rolled out in the fourth quarter of 2011. On October 1 prices for agricultural tyres will increase by an average of four per cent, while winter passenger, light commercial vehicle and 4×4 tyre prices will go up by an average of five per cent. Commenting on decision to increase prices, Mitsuhira Shimazaki, senior vice-president of Sales and Marketing at Bridgestone Europe, said that these two product groups “still require efforts to fully compensate for the raw materials hikes that we have suffered in the last two years.”

22nd September 2011/by Tyrepress Editors

Lanxess “ready” for growth in rubber demand

At its most recent “Rubber Day”, held today in Germany, specialty chemicals company Lanxess reported it expects – and is well equipped for – a labelling-related boost in demand for high performance rubber. Speaking at the event, company Board of Management chairman Axel C. Heitmann said “in order to meet the new legislation and the expected customer demand, our high-tech materials are essential. As the world’s largest partner for the tyre industry, we have adapted to the trend on time. We have made the right strategic investment decisions and have strengthened our capacities.”

21st September 2011/by Tyrepress Editors