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ASEAN Rubber Conference 2010 Planned For Malaysia

The ASEAN Rubber Conference Secretariat has selected Kuala Lumpur, Malaysia to host the 6 ASEAN Rubber Conference (ARC), which is scheduled to be held 17 – 19 June 2010. Since its inception in 2005, ARC has travelled to Thailand, Vietnam, Cambodia, Philippines and Laos. In Kuala Lumpur, ARC 2010 is expected to be bigger than ever with an estimated 700 delegates from 25 countries converging to discuss commercial and economic issues, latest supply/demand trends and price forecasts for 2010/2011 with renowned experts and industry leaders from commercial organizations, government agencies, research bodies and associations across 10 countries.

17th May 2010/by Tyrepress Editors

Work on Lanxess Singapore Rubber Facility Gets Underway

Ground has been broken on Lanxess’ new butyl rubber factory site in Singapore. When completed, the Jurong Island facility will have a 100,000 tonne capacity, which Lanxess states will enable it to meet the rising Chinese and Indian demand for butyl rubber to use tyre production. Following a total investment of up to 400 million euros – 10 to 15 per cent of which will be directed into environmental protection measures – production is anticipated to get underway in the first quarter of 2013.

17th May 2010/by Tyrepress Editors

Rubber Price Falls Over Debt Crisis Fears

BusinessWeek.com reported on 7 May that the price of rubber fell to its lowest price in more than four months, erasing this year's gains, on concern that Europe's debt crisis may slow the global economic recovery. However, while financial analysts agree that tyre raw material prices have “ticked down for the first time since March 2009,” they say the full year effect in 2010 is still likely to be 15 – 20 per cent higher than last year.

10th May 2010/by Tyrepress Editors

Yokohama Opens Thai Natural Rubber Processing Factory

Yokohama Rubber Co., Ltd., has officially openened its new natural rubber processing factory in Surat Thani Province, southern Thailand. The opening ceremony was held on 6 May 2010. Among a total of 90 participants in the ceremony were Governor of Surat Thani Province, government officers, construction company executives, people representing joint investment partners Teck Bee Hang Co., Ltd., and VonBundit Co., Ltd., raw material suppliers, and Kinya Kawakami, board director and corporate officer of Yokohama Rubber.

In his greeting remarks, Kawakami said: "Yokohama Rubber imports natural rubber from Thailand and Indonesia and Teck Bee Hang is one of the largest Thai suppliers for us. However, Teck Bee Hang's natural rubber processing factory, which mainly supplies to Yokohama Rubber, has been considered less certain in terms of supply stability because of its insecure location near the Malaysian boarder area.

6th May 2010/by Tyrepress Editors

Cooper Posts Improvements in Q1

Tire Review reports Cooper Tire & Rubber Co. reported net income of $12 million for the quarter ended 31 March, a $33 million improvement from the same period in 2009. Net sales were $754 million, an increase of $183 million, or 32 per cent, from the prior year. Operating profit was $33 million for the quarter, a $49 million improvement compared with a loss of $16 million in 2009, the company said.

5th May 2010/by Tyrepress Editors

How Far Will Tyre Companies Increase Prices in 2010?

There are price increases and there are price increases. Anyone who has observed the tyre market for long enough will be aware that what it says in the book and what customers pay are often two different things. Firstly when someone like a bank says “price increases” they are referring to the proportion the price the vendor receives for their tyres increases relative to its prior level. And secondly due to the volatility of raw material commodity markets and other associated input costs any predictions are libel to change and even cancel each other out. Sound like teaching grandma to suck eggs? Perhaps, but the latest round of price increases issued by swathes of tyre producers highlight these principles in spades. Higher prices do not necessarily mean higher costs to buyers on the one hand and, if they do, this does not automatically mean more profitability for those issuing the prices increases.

5th May 2010/by Tyrepress Editors

Bridgestone Bandag Sets US Price Increases

Bridgestone Bandag Tire Solutions (BBTS), a division of Bridgestone Americas Tire Operations, will increase prices on its Firestone, Dayton and Bandag brand products sold in the US up to 6 per cent, says Tire Review.

4th May 2010/by Tyrepress Editors

Michelin Looks to Increasing Sales, Expects Demand Increase

Michelin has released its first quarter financial report with the figure of 3.9 billion euros in net sales (representing an increase of 12.2 per cent) riding high on its statement. The manufacturer has seen a decent return to favourable comparatives a year after the depth of the financial crisis dominated most balance sheets, though European original equipment truck sales were a notable exception, down 1.2 per cent (including figures for Russia and Turkey. In comparison, year-on-year change in the segment in all other regions was up, most spectacularly in South America (up 56.9 per cent) and Asia (up 24.2 per cent). The European passenger car and light truck OE segment was much stronger, with 30.2 per cent rises in net sales.

30th April 2010/by Tyrepress Editors

Nexen’s Q1 Earnings Jump 43%

Nexen Tire Corp.’s first quarter earnings jumped 43 per cent from a year earlier on the back of increased prices, reports Tire Review. Net profit reached 25 billion won (US$22.4 million) in the January-March period, compared with a profit of 17 billion won a year earlier, the company said in a regulatory filing. Sales increased 8.6 per cent to 249 billion won over the cited period, while operating income fell 5.1 per cent to 32.4 billion won, it said.

29th April 2010/by Tyrepress Editors

We’re Back on the Road to Success, Conti Shareholders Told

Addressing the company’s Annual Shareholders’ Meeting, held in Hannover, Germany on April 28, chairman of the Continental AG Executive Board, Dr. Elmar Degenhart, stated “if you wanted to summarise the year 2009, you could boil it down to a simple notion – state of emergency.” The major events affecting the market, he added, resulted in the most dramatic economic crisis in the post-war era.

28th April 2010/by Tyrepress Editors

Bridgestone Holds G-MEC Opening Ceremony

On April 28 Bridgestone held an opening ceremony for its Global Manufacturing Education Center (G-MEC) in the Bridgestone G-MEC Building, a training building established in Kodaira City, Tokyo. The ceremony, held at the newly opened G-MEC Building, marked the official launch of the new G-MEC training and education programme.

28th April 2010/by Tyrepress Editors

What Will Reifen 2010's 550 Exhibitors Bring to the Show?

With tyre businesses forced to face the unprecedented combination of global recession, high raw material costs and increasingly thorough legislative demands, the two years since the last Essen show have been some of the toughest in the market’s history. And yet, if you will excuse the pun, the tyre business seems to have a perpetual ability to “bounce back” in the face of adversity. In fact some brands – largely those operating in the mid and upper mid range segments – actually outperformed their pre-recession sales records, resulting in increased market share at least in terms of units sales.

That said, all businesses have had to cope with the same credit crunch-induced reticence amongst consumers to spend any money at all, while at the same time having to deal with (either directly for the manufacturers or indirectly for those importing, wholesaling and trading) high input costs for raw materials such as natural rubber.

27th April 2010/by Tyrepress Editors

Bridgestone Announces US Price Increases

The price of certain Bridgestone, Firestone and associate brand passenger car and light truck tyres will rise by up to six per cent in the US market on June 1. Bridgestone Americas Tire Operations (BATO) says these increases will apply to both original equipment and replacement market products.

27th April 2010/by Tyrepress Editors

Barry Stocker Appointed Sales Director for Genan

Denmark-based Genan Business & Development A/S, which purports to be the world’s largest tyre recycling company, has appointed Barry Stocker as sales director for UK and Ireland. According to the company the appointment took effect on 1 February 2010. At the time Stocker was president of the Tyre Recovery Association (TRA) and member of the UK Tyre Working Group, however Tyres & Accessories understands that the association has since appointed a new president and will shortly release a statement confirming this. Prior to joining Genan Stocker was commercial director for Murfitts Industries Ltd and spent most of his professional career within tyre recycling in the UK.

26th April 2010/by Tyrepress Editors

Bridgestone India Raises Output, Implements 3.5% Price Hike

Bridgestone has said that it will produce 1,500 more tyres per day and raise the price of its tyres by 3.5 per cent in India, according to a newswire issued by Dow Jones. The rise comes on the back of increased raw materials prices, Bridgestone India general manager of sales and marketing, Vaibhav Saraf told the assembled throng at a news conference, Dow Jones NewsPlus reports.

26th April 2010/by Tyrepress Editors