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Yokohama Improve Results Prediction

Yokohama Rubber Co., Ltd. has revised its consolidated and non-consolidated forecasts for the first half of fiscal 2007 (1 April 2006 to September 30 2006). The current revised consolidated forecast includes 222 billion yen for net sales (just under £1 billion), a 0.9 per cent increase over the previous forecast, 3 billion yen for ordinary profit, a 172.7 per cent increase compared to same, and 3.3 billion yen (£14.75 million) for net income, a 450 per cent increase.

27th October 2006/by Tyrepress Editors

Tyre Prices Set to Soar In South Africa

A weaker rand in recent months and price increases in raw material has put pressure on the South African (SA) tyre industry, according to the chief executive at Continental Tyres SA. Claudio Boezio told journalists the last 18 months had been expensive for the manufacturing industry.

26th October 2006/by Tyrepress Editors

A Century Of Retreading

According to Kraiburg Austria, 2006 marks the centenary of retreading and, the company argues, giving new life to worn tyres is as important today as ever it was. The experts are not in total agreement, but many are of the opinion that the retreading of tyres started in 1906 in Germany, while 1908 is the year cited for England and China, and 1917 for the USA.

20th October 2006/by Tyrepress Editors

Sibur-Russian Tyres Announces Price Increase

Due to higher raw material costs Sibur-Russian Tyres LLC raises prices of the whole range of tyres sold to the company’s dealers worldwide. The price increase of 8 per cent on average went into effect on the 1st of October 2006. “This increase is a needed response to the constant escalating cost of key raw materials. But we are making all possible to minimize the impact of higher materials costs. We wish to thank our dealers for understanding during these changing times,” explained Dmitry Sokov, COO of Sibur-Russian Tyres.

5th October 2006/by Tyrepress Editors

Nexen Tire to Raise Prices in November

(Akron/Tire Review) Ontario, California-based Nexen Tire America Inc. announced price increases on passenger and light truck tyres that will take effect 1 November. The increases, up to 6 per cent, will vary by distribution channel and product line. The main reasons for the price hikes include rising raw materials, transportation and operating costs, according to Nexen.

26th September 2006/by Tyrepress Editors

Pneuman Heads Cooper Sourcing Group

(Akron/Tire Review) Wayne Pneuman has been named manager of curing, bladders and the global materials sourcing group for Cooper Tire & Rubber Co. In his new role, the 27-year Cooper veteran will be responsible for the technical aspects of the tyre curing process both domestically and internationally as well as the technical approval and control of raw materials on a global basis.

8th September 2006/by Tyrepress Editors

Kplus 30 Boosts Kraiburg’s Sales

One year after being launched, the high-performance Kplus 30 special compound tyres from Kraiburg Austria are successfully established on the market. Of the 11,000 tonnes of precured treads, that the company sold in Europe, 1,500 tonnes were notched up by the premium range Kraiburg plus, representing a remarkable 13 per cent of total sales.

In Germany, the pre-cured Kplus 30 currently generates eight per cent of sales. That brings the current overall market share of Kraiburg plus to two per cent in the core market of precured tyres. In conjunction with its twelve authorised retreading partners, who together cover more than 50 per cent of the Kraiburg precured retreading market, Kraiburg is planning to gradually further exploit the existing market potential in Germany. Three months ago Kraiburg welcomed a new, strong partner: Feneberg, a company based in Kempten, Germany. With 16 locations, the plant in the Alpine region of Allgäu now covers the entire southwest.

8th September 2006/by Tyrepress Editors

Pneuman Heads Cooper Sourcing Group

(Akron/Tire Review) Wayne Pneuman has been named manager of curing, bladders and the global materials sourcing group for Cooper Tire & Rubber Co. In his new role, the 27-year Cooper veteran will be responsible for the technical aspects of the tyre curing process both domestically and internationally as well as the technical approval and control of raw materials on a global basis.

7th September 2006/by Tyrepress Editors

Kumho to Raise Prices

(Akron/Tire Review) Kumho Tire USA Inc. announced that it will increase prices on 1 October. Passenger, light truck and commercial truck tyre prices will increase up to 5 per cent, depending on tyre model. Continuing price increases for raw materials and rising transportation costs were the reasons for the increase, according to David Hudrlik, vice president and director of sales.

24th August 2006/by Tyrepress Editors

3-5 per cent Conti Price Increase “Likely”

Continental AG is “likely” to raise its European tyre prices by 3-5 per cent in October in response to rising raw material costs, an unnamed source told Focus-Money magazine. The news follows a spring price rise that saw the manufacturer increase prices by between 3 and 5 per cent.

23rd August 2006/by Tyrepress Editors

Iranian Market Produced 32.3 million Tyres Year-to-March

Khosrow Mahmoudian, secretary of the Iranian Tire Industry Guild Association, has told reporters that the industry produced 32.3 million tyres, weighing 221,206 tons, in the year to March 2006, according to Moj news agency.

15th August 2006/by Tyrepress Editors

More Efficient Pyrolysis System Proposed

US recycling company EarthFirst has released details of how its pyrolysis technology can extract more of the valuable raw materials from tyres, using less energy. Unlike traditional pyrolysis, which burns tyres at very high temperatures in the absence of oxygen, EarthFirst’s system heats used tyres in a vacuum releasing the same range of valuable products including: steel, carbon, oil and a high energy gas.

14th August 2006/by Tyrepress Editors

Amtel-Vredestein First Half Revenues up 22 per cent

Describing itself as Europe’s fourth largest tyre producer, Amtel-Vredestein (AV) has announced first-half results showing sales of $350 million, up 22 per cent from £286 million in 2005. Gross profit improved 43 per cent from $56 to $80 million in the first half, up 22 per cent in the second quarter compared with the first three months of the year. However, Amtel-Vredestein’s first half net losses totalled $15 million against the $1 million profit at the same time last year. Most of the losses were acquired during the first quarter, with net losses decreasing to $5 million in the second quarter, write AK&M analysts. In the same period net revenue from Passenger Car Tyres grew 52 per cent from $135 million to $205 million in the first half and now represents 59 per cent of total sales.

14th August 2006/by Tyrepress Editors

Hankook Reports Decline in Quarterly Earnings

Hankook Tire Co. reported a 23.9 per cent decline in quarterly earnings, based on a stronger won and high raw materials costs, and the company has downgraded its full-year outlook, as reported by the Korea Times. Net profit totalled £24 million ($45.49 million) for the three months ending 30 June. Sales dropped 0.7 per cent, while operating profit declined 32.8 per cent. In the first half of the year, Hankook’s net profit was down 12.2 per cent from the previous year. Revenue grew 1.05 per cent, but operating profit fell 29.92 per cent.

10th August 2006/by Tyrepress Editors

Yokohama OP down 64.6 per cent

Yokohama Rubber Co., Ltd., posted an 11 per cent increase in net sales, to 106.8 billion yen (£486.7 million), in the three months ended 30 June. The increase resulted primarily from robust growth in overseas tyre business, according to the company. Tire sales also benefited from increased shipments to automakers in Japan. However, the rising prices for raw materials offset the sales growth in the Tire Group, and operating income in the group declined 64.6 per cent, to 1 billion yen (£4.56 million).

9th August 2006/by Tyrepress Editors