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JK Tyre Q3 Net Profit Down Three-Quarters

India’s JK Tyre has posted net profits for its third quarter ending 31 December, 2010 of 90.14 million rupees, a year-on-year reduction of 74.93 per cent on the 360.46 million rupees posted in the same quarter at the end of 2009. “It was a very challenging quarter as the prices of natural rubber have increased 100 per cent, attaining unprecedented levels. Other raw materials have also registered a sharp increase of nearly 40 per cent,” stated JK Tyre & Industries vice chairman & managing director Raghupati Singhania.

25th January 2011/by Tyrepress Editors

Two-Year Rubber Squeeze Predicted

The acceleration in demand for tyres in rapidly growing economies like China and India has led to a sharp increase in natural rubber prices over a sustained period, as a look at the tyrepress.com News archive will tell readers. Now climatic conditions in major rubber supplying nations Thailand and Indonesia could prevent production upgrades, potentially leading to shortages and further price increases, according to estimates made by the Association of Natural Rubber Producing Countries.

24th January 2011/by Tyrepress Editors

Natural Rubber Reaches New Peak Having Doubled in 2010

The cost of natural rubber price has reportedly doubled in 2010 and is said to have increased a further 15 per cent during the opening weeks of January 2011, according to an equity research note published by Deutsche Bank analysts Gaetan Toulemonde. So far this month natural rubber costs have continued to surge to US$5.7/kg, a new record high.

20th January 2011/by Tyrepress Editors

Yokohama’s Dan King Talks Truck Tyres

The US commercial truck tyre market rebounded strongly in 2010 – Yokohama Tire suggests that it may even have rebounded too strongly, leading to fill rate difficulties. The tyre maker has published an interview held with Dan King, its senior vice president of sales and marketing; King discusses this issue along with other challenges facing the industry and what the market may expect in 2011. The Yokohama Q&A session is published complete and unchanged below.

20th January 2011/by Tyrepress Editors

Pirelli Prices to Rise in Numerous Global Markets

Pirelli has announced price increases for its entire tyre range in all European, Middle East, African and Asia-Pacific markets. These raw materials related price adjustments take effect on March 1 and will see passenger car, SUV and motorcycle tyre prices rise three per cent and the cost of light and heavy industrial tyres increase seven per cent.

20th January 2011/by Tyrepress Editors

JK Tyre Announces 2-4% Price Hike

Indian manufacturer, JK Tyre has decided to raise its prices by between two and four per cent on the back of raw materials prices going “up to an all time high, touching Rs 210 or even Rs 220 per kg of natural rubber,” the company’s marketing director AS Mehta told newspaper The Economic Times.

19th January 2011/by Tyrepress Editors

Escalating Raw Material Cost Prompts Further Bridgestone Price Adjustment

During the first quarter of 2011, Bridgestone will implement price increases on all consumer, commercial, retreaded and specialty tyres sold in Europe. Prices will rise by an average of six per cent, however this will vary between markets and product categories.

11th January 2011/by Tyrepress Editors

Report Points to “Remarkable Growth in Tyre Markets”

In an analysts report published at the end of last year (17 December) financial analysts surveying the market on behalf of Morgan Stanley found that replacement light vehicle tyre markets were very strong in Europe and North America and grew by 15 per cent and 6 per cent respectively in November last year. The figures were based on research conducted by Michelin, which was published the same day.

7th January 2011/by Tyrepress Editors

JK Tyre Capacity – and Prices – to Increase

Prices for JK Tyre and Industries products will increase by up to five per cent in the New Year as the tyre maker seeks to offset climbing raw material costs. India’s The Economic Times reports company vice chairman and managing director Raghupati Singhania as disclosing during the JK Tyre-organised Indian Car and Motorcycle of the Year awards that “we will increase tyre prices by four to five per cent from January to offset surging raw materials costs, especially natural rubber. Singhania added that the price increase applies to both passenger car radial and truck tyres and JK Tyre may implement further price rises should rubber prices continue to increase.

16th December 2010/by Tyrepress Editors

Toyo to Raise Domestic Market Prices

Domestic market prices for Toyo Tire & Rubbers’ commercial and light commercial vehicle tyres are to increase by an average of seven per cent as of March 1, 2011. These Japanese replacement market prices apply to both summer and winter tyres and are being implemented in response to increasing natural rubber prices plus the high price of petrochemical raw materials such as synthetic rubber and carbon black. Toyo notes it has made efforts to minimise raw material prices through product mix and cost rationalization, however these internal measures are not sufficient to not cover the increase in raw material prices.

13th December 2010/by Tyrepress Editors

Yokohama’s Gary Nash Talks OTR Tyres

This year, notes Yokohama Tire Corporation, has been a good one for Gary Nash. The 45-year tyre industry veteran was promoted to vice president of Yokohama’s OTR department in the US in 2010 and was elected to the Tire Industry Association’s (TIA) Hall of Fame. In an interview released by the tyre maker, Nash discusses the fluctuations that have taken place in the OTR market, why the bottom dropped out in 2009 and how it bounced back strongly in 2010, and what the market will look like in 2011.

9th December 2010/by Tyrepress Editors

Reifen China 2010 Had 39% More Visitors

International News, News

For the fourth time in its history, Reifen China welcomed floods of visitors through the doors of the Shanghai New International Expo Center on 25 November where over 100 exhibitors from some of the country's leading suppliers and traders were waiting to share details of the latest products and business developments. The headline news is that by the end of this year’s show on 27 November, Reifen China had attracted a total of 9356 trade visitors from 75 countries – an increase of over 39 per cent compared with the previous year (2009: 6,693).

8th December 2010/by Tyrepress Editors

Bridgestone Developing Low Rubber-Content Tyres

According to a new report from Bloomberg, Bridgestone is working on technology that would radically reduce the amount of natural and synthetic rubber used in each tyre it produces – without having an impact on quality or performance. The tyre-maker hopes to have the technology, which also encompasses other tyre components, in place within ten years, effectively cutting its total rubber consumption by 50 per cent. Reducing input costs is the hot battlefield for manufacturers as they tackle fast rising oil and NR cost increases while seeing white-hot growth opportunities in South America and Asia. Recouping on those higher costs has grown more difficult because lingering poor economic conditions continue to pressure commercial and consumer customers.

2nd December 2010/by Tyrepress Editors

CGS to Start New Year with Price Rise

CGS Tyres has notified its customers that prices for all its products in all markets, including Europe and North America, will increase by 7.5 to 10 per cent. This price rise, which will take effect January 1, 2011, is being taken in response to rising raw materials prices.

29th November 2010/by Tyrepress Editors

Sumitomo Chemical to Build S-SBR Plant in Singapore

In future the 270 square mile state of Singapore will be home to no less than three major synthetic rubber production plants following Sumitomo Chemical’s decision to construct a solution styrene-butadiene rubber (S-SBR) facility on Jurong Island. The Japanese firm intends to have the 40,000 tonne per annum capacity plant ready for commercial operation in the fourth quarter of 2013.

26th November 2010/by Tyrepress Editors