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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

Titan Ups Tyre Prices, “Repositions” Products

Blaming the continuing upwards momentum of natural rubber and other raw materials costs, in addition to increased transportation costs, Titan Tire has announced that its tyres and Titan manufactured, Goodyear branded farm tyres will increase by “up to 8 per cent”, though some products will supersede this rate of growth “due to repositioning of the product”.

24th November 2010/by Tyrepress Editors

Analysts: Winter Tyres; Price Increases to Support Sumitomo Profitability

Following the publication of Sumitomo Rubber Industries’ nine-month 2010 results, financial analysts have observed that the firm was “hit by higher raw material prices,” which are said to have “shaved off” billions of yen of profitability. Nevertheless the company maintained its full-year earnings advice. Deutsche Bank analysts said they expect the company to outperform in the fourth quarter of this year off the back of winter tyre sales: “The key point is whether price rises/better product mix/higher volumes can offset the impact of raw materials prices, including natural rubber and yen/baht appreciation.”

15th November 2010/by Tyrepress Editors

Rubber Prices May Force Production Cuts in India

Natural rubber prices have been the bane of tyre makers in India of late, and on November 12 the New Delhi based Financial Express reported that major tyre manufacturers in India are considering production cuts to minimise on losses arising from prices that have risen above Rs 200 (£2.77) a kilogram.

12th November 2010/by Tyrepress Editors

Acquisition adds to Lanxess' Vulcanisation Chemical Range

The acquisition of two businesses belonging to Solutia Inc. subsidiary Flexys is intended to strengthen the product portfolio chemical specialist Lanxess’ offers its customers from the tyre and rubber industries. Pending approval from the relevant antitrust authorities, the company will incorporate Flexsys’ primary accelerator business and Perkalink 900 anti-reversion agent into its Rubber Chemicals business unit. Lanxess has not disclosed any financial aspects of the acquisitions and reports that no Flexsys employees will be transferred to Lanxess.

9th November 2010/by Tyrepress Editors

RockTron Seals Energy Deal in Malaysia

Fly-ash recycling technology innovator, RockTron International has announced that it has signed an MOU with Malaysia energy provider TNB, following the launch of RockTron Asia in Kuala Lumpur this October. The company is also in discussions with major companies from across Asia regarding the company’s new licensing proposition. Tyre industry interest in RockTron stems from its technology’s ability to manufacture “eco-minerals” from stockpiled coal-fired power station waste (otherwise known as fly ash), which can be used to manufacture tyre rubber filler, or indeed as fillers and extenders in any polymer, rubber and coatings manufacturing and as cementitious substitutes, dramatically cutting costs and CO2 emissions.

8th November 2010/by Tyrepress Editors

Bridgestone Reports 12% Sales Increase

The first three quarters of the 2010 fiscal year have been described by Bridgestone as a period “plagued by rising raw materials and materials prices and the appreciating Japanese yen.” Despite these hurdles, the tyre maker reports achieving a 12 per cent increase in net sales and 838 per cent rise in operating income during this time, having reached figures of 2,091.2 billion yen (£15.9 billion) and 113.4 billion yen (£861.5 million) respectively. Ordinary income for the nine months was 100.8 billion yen (£765.7 million) and net income 66.7 billion yen (£506.7 million), compared with an ordinary loss of 9.2 billion yen and net loss of 27.4 billion yen for the corresponding period a year earlier.

8th November 2010/by Tyrepress Editors

Conti Predicts 25 billion euro Sales; 9% EBIT in FY10

The Continental Corporation is predicting it will achieve sales of more than 25 billion euros and an adjusted pre-tax profit margin (EBIT) of 9 per cent when it publishes full year financial results for 2010. The margin target had previously been 8 – 8.5 per cent. Continental released the projections in parallel with its third quarter results which show that the automotive supplier posted sales of 19.1 billion euros and an adjusted EBIT of 1.79 billion euros after three quarters, exceeding the pre-crisis level of the first three quarters of 2008. At 9.4 per cent, the nine-month adjusted EBIT margin also exceeded the comparable 2008 level.

3rd November 2010/by Tyrepress Editors

Cooper Expecting Continued RM Rise in 2011

Having raised the prices of its US passenger and light truck tyres by 6.5 per cent, Cooper Tire has told analysts in a conference call that the manufacturer expects raw materials costs to rise into 2011, as suggested by reports in the Financial Times and on tyrepress.com yesterday. Increased demand from automotive suppliers, especially in China and India, alongside unhelpful weather conditions in the rubber tapping season in south-east Asia have driven natural rubber prices continually upward in 2010.

2nd November 2010/by Tyrepress Editors

Indonesia/Malaysia Home to Thriving Tyre Retail Markets

International News

As the Asian region’s car parc continues to swell in the wake of economic recovery, the demand for aftermarket products and services is also said to be increasing. GfK Asia, which conducts retail audits in the automotive aftermarket in major Asian cities like Bangkok, Kuala Lumpur, Jakarta, Manila and Seoul, recently looked into the relationship between car “populations” in these cities relative to the number tyre servicing garages and compared the saturation levels in differing economies. While each tyre servicing garage in developing cities such as Kuala Lumpur, Bangkok, Jakarta and Manila serviced an average of 2250 vehicles, this figure is almost halved, at 1172:1 in a “developed” city such as Seoul. The Malaysian figure is almost four times the 674:1 average ratio GfK published in April 2009.

2nd November 2010/by Tyrepress Editors

Yokohama Reports Sales and Earnings Gains in 1H 2010

The Yokohama Rubber Company announced today that its sales in the first half of the present fiscal year (1 April – 30 September, 2010) increased 17.9 per cent over the same period of the previous fiscal year, to 238.3 billion yen. Sales in Yokohama's tyre operations increased 18.5 per cent over the first half of the previous fiscal year, to 184.9 billion yen, reported the manufacturer.

1st November 2010/by Tyrepress Editors

The Rise and Rise of Rubber Prices

Following many financial reports from tyre companies suggesting that sales are up but profits have not necessarily followed suit, it seems that the high price of rubber – cited as a major profit-eating factor – is set to continue its upward momentum in the near future. The Financial Times says heavy rains in south-east Asian rubber growing regions are responsible, having disrupted tapping in the region, thus limiting supply. According to the report, this situation is unlikely to be alleviated until 2012.

1st November 2010/by Tyrepress Editors