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Rubber Prices May Plummet 35% as Tyre Sales Slow

International News

Global sales of passenger car and commercial vehicle tyres may decline to 1.32 billion units in 2009 from 1.41 billion last year, said No Dock Moung, an analyst with the Singapore based International Rubber Study Group. The drop of almost 6.4 per cent would be the steepest since at least 1975, he said. And according to a Singapore based trading manager from Marubeni Corp., Japan’s largest rubber trading company, this could lead to natural rubber prices weakening by as much as 35 per cent.

21st April 2009/by Tyrepress Editors

Safety First a Goodway to Go

In Tyres & Accessories’ September 2008 Retreading Special, Goodway Rubber Industries, the Malaysian retreading compound and materials supplier, spoke at great length about its continuing mission for safety within the workplace and its concern for the wellbeing of its staff, culminating in its Nilai factory’s attainment of OHSAS 18001 certification. In the time since then, this attention to safety has been reflected in the company’s products, specifically with reference to its Supercool-branded flagship retreading material, which has been given the new tagline, “Engineered For Safety”. Despite the current economic turmoil, Goodway says that its trademark brand registered growth last year, stemming from well-positioned branding efforts and aggressive marketing strategies. Indeed, the company is optimistic that the financial woes could represent it – and retreaders in general – with a significant opportunity.

16th April 2009/by Tyrepress Editors

A Step Closer to Renewable Rubber

Genencor announced the first transfer of BioIsoprene product – designed to provide an alternative to petrochemically derived isoprene, a key intermediate for synthetic rubber production – to Goodyear. Four containers of the clear liquid were handed over to Goodyear at Genencor’s Palo Alto, California, research facility. “This is a historical moment, after substantial research on this technology,” said Rich LaDuca, senior director of business development at Genencor. “It signifies a new era in biochemicals. We’re excited to be ushering in a future where tyres and many other products will be produced with renewable materials.”

Genencor, a division of Danisco A/S, and Goodyear first announced their research collaboration on the technology and integrated production system for BioIsoprene product in September 2008. BioIsoprene is derived from renewable raw materials, and represents a significant development within the biochemical and rubber industries. Aside from synthetic rubber for tyre production, traditional isoprene is used for the production of a wide range of products, such as surgical gloves, golf balls and adhesives. Thus, the potential for BioIsoprene is substantial, according to the companies. (Tire Review/Akron)

10th March 2009/by Tyrepress Editors

Sapphire Merges With Glacier

Sapphire Energy Recovery – now fully-owned by Lafarge Cement UK following a buy-out of joint venture shares from Michelin Tyre plc – has restructured in what it describes as “an aim to operate closer to the sources of waste and further improve customer service.” The business has completed a merger with sister Lafarge resource recovery company Glacier, which was dedicated to sourcing alternative raw materials and fuels for the cement business. The Glacier name will go, and the new company will operate across the waste spectrum with one management team.

Headed by General Manager Jamie Randall, the new-look Sapphire Energy Recovery will continue to serve the tyre recovery market, and even has plans for growth despite the current downturn. Thanks to recent new contracts, it expects to process well over 18 million tyres in 2009; a significant increase on previous years’ averages of 16 million.

5th March 2009/by Tyrepress Editors

Yokohama to Launch New Eco-Tyre at Geneva Show

Yokohama Rubber plans to hold the European launch of its new ‘dB super E-spec’ at the Geneva Motor Show, which gets underway on March 3. The tyre is, according to Yokohama, the “ultimate eco-tyre designed to be environmentally friendly in all respects.” Other new releases will be the “ADVAN NEOVA AD08,” released in Japan in February and marketed here in the summer, and the W.drive cold weather tyre – the latest in the four-product “.drive” series – which will be released this coming winter.

2nd March 2009/by Tyrepress Editors

Dunlop Zimbabwe to Seek Production Boost

Local news sources have quoted Dunlop Zimbabwe managing director, Kennedy Mandevani, saying that the company is looking to capitalise on the decrease in rubber prices by boosting production. Dunlop Zimbabwe has experienced an increase in sales following its licensing by the country’s Reserve Bank to deal in foreign currency. This has provided the company with the opportunity to import raw materials, though Mandevani said that FOLIWARS sales are “not generating enough foreign currency for raw material importation yet.” He said that the company may seek “short-term external financing to bridge this gap.” It is hoped that by increasing production, the additional foreign exchange sales, and the benefits associated with them, will come.

23rd February 2009/by Tyrepress Editors

Self-Inflation Device Scoops 2009 Tire Technology Awards

The Self Inflating Tire (SIT), developed by Coda Development, has walked away with the Tire Technology of the Year award at the Tire Technology Awards for Innovation and Excellence 2009, presented at Tire Technology Expo in Hamburg, Germany on February 18. Coda Development’s SIT system is primarily designed to aid fuel economy and safety. As well as benefiting drivers through the elimination of pressure checks and the need to manually inflate tyres, it helps to address the serious drawbacks of incorrect tyre pressure.

20th February 2009/by Tyrepress Editors

Deutsche Bank Report Lowers Goodyear Estimates

Noting the “larger than expected” production cuts in Goodyear’s 2008 fourth quarter and a “sharp decline” in the manufacturer’s profitable South America and Asia regions, Deutsche Bank analysts have adjusted its estimates for the company’s 4Q 2008 and 1Q 2009 results. In a report released this week (commencing 9 February), Deutsche lowered its estimates to -$1.30 from -$0.86 for 4Q 2008 and to -$1.86 from -$1.50 for 1Q 2009.

Deutsche’s statement said that as well as the production cuts, Q4 had seen raw materials rise further than was previously expected. In addition it continues, “Some of the downside appears to be derived from a sharp decline in Latin America and Asia, two regions that have produced a disproportionate share of GT’s [Goodyear’s] profitability in the past.”

11th February 2009/by Tyrepress Editors

Work in Progress – Sibur/Amtel Debt Deal in the Offing

The path towards an arrangement between OJSC Sibur Holding and Amtel-Vredestein has been littered with complications, yet as of early 2009 it appears that the persistence of the parties involved has paid off. On January 28, Sibur Russian Tyres (SRT) announced the planned issue of 7.6 billion securities bonds, valued at 12.69 billion roubles (£246,47 million), each convertible into a single ordinary SRT share. This bond issue, commented SRT deputy general director Igor Karavayev, provides a tool for the possible redemption of Amtel-Vredestein’s Russian business debt with creditor banks; under this scheme, the creditor banks could acquire up to 45 per cent of SRT’s shares. According to SRT, arrangements with creditors should be finalised some time in February.

3rd February 2009/by Tyrepress Editors

China Sunsine Supplying Global Tyre Majors

China Sunsine Chemical Holdings is one of China’s largest rubber accelerator producers. At present the company possesses a total annual production capacity of 50,000 tons of rubber accelerators per annum, plus a further 10,000 tons of insoluble sulphur and 10,000 tons of anti-oxidant. These chemicals are sold to the leading global tyre manufacturers, including Bridgestone, Michelin, Goodyear, Continental, Pirelli, Sumitomo Rubber, Yokohama, Hankook, Cooper and Kumho. In China, the company supplies – amongst others – Giti Tire, Aeolus Tyre, Shanghai Tyre, Hangzhou Zhongce Rubber and Chengshan Corporation. Worldwide, China Sunsine boasts more than 400 customers in over 30 countries.

30th January 2009/by Tyrepress Editors

Apollo Tyres Owned Zimbabwean Fast Fit, Retreader Restructures

Zimbabwe’s National Tyre Services (NTS) is in the process of finalising a strategic restructuring exercise to rationalise its operations. Dunlop Group (Dunlop Zimbabwe, owned by Apollo Tyres, is a major shareholder in NTS) managing director Kennedy Mandevani, recently appointed to oversee operations at the distributor and retreader, said the exercise would also increase the company’s operational efficiencies.

“Given the trading environment, the exercise brings NTS and Dunlop Zimbabwe closer to each other in order to deliver increased synergistic benefits to all stakeholders,” Mandevani said. “The right-sizing and restructuring will see a more flexible and customer focused entity poised to take advantage of current and future opportunities.” Mr. Mandevani added that NTS has maintained a strong presence in key geographical locations in order to maintain its market share.

27th January 2009/by Tyrepress Editors

JK Tyre Posts Fourth Quarter Loss

Despite increased sales in 2008, JK Tyre’s fourth quarter results reveal a net loss for the quarter and reduced profits through the entire financial year. The company reports net sales of Rs 40,524.8 million (£591.4 million) during the 12 months to December 31, 2008, up 43.9 per cent on the 2007 yearly result. During the fourth quarter net sales were Rs 7,798.2 million (£113.8 million), a more muted 6.9 per cent increase on the fourth quarter of the previous year.

23rd January 2009/by Tyrepress Editors

Michelin Sells Share in Sapphire Energy Recovery

Michelin Tyre plc has announced the sale of its share in the Sapphire Energy Recover joint venture. The company, established in 2001 by Michelin together with cement and aggregate producer Lafarge, is now solely owned by Lafarge.

The decision to move Sapphire to sole ownership was made, says Michelin, once the business had successfully achieved its objective of developing a healthy and viable end-of-life process for used tyres. Sapphire provides the items to the cement industry as a waste-derived fuel, and the tyre maker adds that a sustainable market that benefits both tyre manufacturers and cement producers has now been created.

21st January 2009/by Tyrepress Editors

Extended Fleet Replacement Cycles a Major Opportunity for Kwik Fit

One result of the recession is that fleet operators are prolonging the time they hold onto their vehicles. This is not such great news for used car dealers that previously snapped up the steady stream of three year old ex-fleet vehicles entering the market, but Kwik-Fit says lengthening fleet replacement cycles are providing it with a major business opportunity – tyre consumption rises and an increasing volume of MoTs and service and repair work is required as vehicles move into their fourth year of operation. Yet simultaneously, one of the biggest challenges facing Kwik-Fit Fleet and fleet decision-makers is cost management and the recent, unprecedented increases in the price of tyres.

13th January 2009/by Tyrepress Editors

Dunlop Zimbabwe Sales Rise Following Granting of Forex Permit

According to a company official, sales at Dunlop Zimbabwe Limited have significantly improved since the company received a license entitling it to sell its products in foreign currency. The license was granted to Dunlop Zimbabwe by the Reserve Bank of Zimbabwe in late November 2008.

Without releasing specific figures, company managing director Kennedy Mandevani said that sales have been steadily increasing. “The FOLIWARS (Foreign Exchange Licensed Warehouses and Retail Shops) sales are gradually picking up and will make a positive difference to our sales mix,” he said. “Dunlop is intensifying its marketing campaign so that more of our customers are made aware of this facility.”

6th January 2009/by Tyrepress Editors