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Construction Underway at Bridgestone’s Hungarian BIRD Plant

Bridgestone Europe has announced that work has started on in its Tatabanya, Hungary high-performance passenger and light truck tyre plant. Construction of the about 190 million euro complex is being financed and managed by Bridgestone Hungary Manufacturing Ltd – a newly-formed subsidiary of Bridgestone Europe NV/SA – with completion due at the end of 2007. Production is scheduled to reach more than 8,000 tyres a day by 2009. The company expects to employ more than 200 people by 2009.

9th June 2006/by Tyrepress Editors

JK Tyre to Up Prices

According to JK Tyres’ CFO, A K Kinra, a 7 – 8 per cent price increase should offset increased rubber costs. “The increase in the cost is very high. There is no way the tyre industry can sustain on its own, so to take care of that cost increase, it has to go for a price increase. That has compelled us to increase tyre prices also,” Mr Kinra told India television news sources.

1st June 2006/by Tyrepress Editors

Tanzanian Plantation Politics

Members of the Tanzanian Parliamentary Committee for Investment have called on the government to transfer ownership of the Muheza Rubber Plantation in Tanga Region to General Tyre factory in Arusha to raise rubber production and create more job opportunities.

The MPs made the recommendation after visiting the factory and discussing how best to increase the supply of raw materials from within the country (as opposed to Malaysian sources), particularly from the rubber plantation in Muheza, the local Sunday Observer reported.

1st June 2006/by Tyrepress Editors

Amtel-Vredestein Doubles Profit in 2005

(Akron/Tire Review) After its first year of operation, Russian tyremaker Amtel-Vredestein NV ended up in the black, posting net income of $5 million in 2005 against sales of $671 million. Net sales jumped 40 per cent for the year versus 2004’s results, the company said.

31st May 2006/by Tyrepress Editors

JK Tyre to Raise Prices

In India, Mr. A K Kinra, Chief Financial Officer of JK Tyre, has said that the company will increase tyre prices by up to eight per cent from 1st June, explaining that the step was necessary to offset growing raw material costs, notably the rising price of rubber. He said that, in Malaysia, the price of rubber has risen by 85 per cent in a year and, as rubber constitutes up to one third of the cost of raw materials, the price increase was inevitable.

30th May 2006/by Tyrepress Editors

WRAP Launches Competition to Boost Used Tyres Reprocessing

A new capital support programme has been launched by WRAP (the Waste & Resources Action Programme) aimed at creating new reprocessing infrastructure for used tyres. The capital programme will provide financial support towards the costs of plant, equipment and infrastructure for projects in the UK in order to increase recycling of used tyres into value added markets, including re-treading facilities.

22nd May 2006/by Tyrepress Editors

Marangoni Retreading Systems Announces Price Increase

Marangoni Retreading Systems (Marangoni Tread SpA and Ellerbrock Reifenrunderneuerungs-Technologie GmbH) have announced a 4 – 5 per cent price increase on all pre-cure retreading brands and product lines. The increase will be applied from 3 July 2006 in European, East European and Mediterranean countries.

8th May 2006/by Tyrepress Editors

Will Continental Retreat from the North American Market?

Dr Alan Hippe has admitted that retreating from the North American tyre business is an option. This is the first time a top-level manager has made such an assertion. Dr Hippe, board member responsible for finance, controlling and law – and also Continental Tire North America (CTNA) president and CEO – told German daily Die Welt: “In principle, if there is no more prospect of profitably working in the US passenger car tyre business, in the long run we will withdraw the US market.” CTNA’s US passenger car tyre business has been in the red since 2000.

5th May 2006/by Tyrepress Editors

Raw Materials Eat at Bridgestone Australia Results

(Akron/Tire Review) Bridgestone Australia barely posted a profit for the first quarter of 2006 thanks to rising raw material costs, the company said. The company posted after tax profits of $270,000 (Australian dollar), down from $2.1 million for the same period last year, against sales of $124.9 million, up 1.2% from last year.

24th April 2006/by Tyrepress Editors

Yokohama Announces Price Increases

(Akron/Tire Review) Effective 1 June Yokohama Tire Corp. will increase prices for its passenger, light truck, medium truck radial and “some” OTR tyres by up to 7 per cent.

A 5-7 per cent increase will go into effect for medium truck radial tyres, light truck commercial tyres, earthmover and mining tyres, as well as Mohawk and private brands, according to Yokohama. There will also be in-line adjustments on select sizes and treads, the tyremaker added.

20th April 2006/by Tyrepress Editors

Analysts – First Quarter Tough for Cooper

Cooper Tire & Rubber’s passenger replacement tyre volumes declined 4.3 per cent year-on-year in the first quarter of 2006, Deutsche Bank analysts have reported. While this was slightly better than the market watchers feared, raw materials rose by more than expected, ruling out any advantages. Even the $4.3 million Cooper is believed to have gained as a dividend from its shares in Kumho was not enough to offset the higher raw material costs.

13th April 2006/by Tyrepress Editors

Bridgestone Europe Announces Price Increases

Bridgestone Europe NV/SA has announced that it will increase prices on all of its tyre brands and categories. It will apply to all replacement channels in all European countries. The increases are between 3.5 per cent and 5 per cent depending on the product category, and are scheduled to take effect from 1 June 2006.

11th April 2006/by Tyrepress Editors

Kumho Vietnamese Plant – Latest

International News

It seems that the announcement by Kumho that it is to spend US$155 million on building a factory at Binh Duong in Vietnam (30th April) is only part of the whole story.

3rd April 2006/by Tyrepress Editors

Pirelli Announces US Price Increases in May

Due to the continuing rise in prices of raw materials, Pirelli Tire North America has announced that it is increasing passenger and light truck tyre prices by 3%. The price increase will be effective May 1, 2006, and will cover all product lines in the US and Canada.

3rd April 2006/by Tyrepress Editors

Toyo to Raise Truck, Bus, OTR Tyre Prices

(Akron/Tire Review) Toyo Tire USA Corp. will raise prices on medium truck, bus and OTR tires, effective 1 April. Commercial (medium truck and bus) tyre prices will increase by 5 per cent, and OTR tyre prices will be bumped up 7 per cent.

28th March 2006/by Tyrepress Editors