Tyres can’t function without this critical raw material. Whether its natural or synthetic rubber you are interested in, articles bearing this tag feature this indispensable polymer.
Kumho Petrochemical aims to exit the debt workout programme it has undertaken for the past year by the end of 2011, and to help boost its economic viability the Kumho Asiana division intends to sell the million or so shares it holds in Kumho Tires. “As part of a consistent move, we will sell all stakes of Kumho Tire owned by us from July, to help strengthen financial soundness,” said Kumho Petrochemical chairman Park Chan-koo.
A jaunty nautical appraisal of this year’s outlook greeted shareholders upon the release of Nokian Tyres’ 2010 financial statements. The man at the helm, president and CEO Kim Gran, stated that “a clear improvement in the drivers for demand in core business brought Nokian Tyres back to a strong growth track. The sails are now bulging with strong tailwind as we go into 2011 with thick order books and growing capacity.”
On February 9 Bridgestone Corporation announced an additional price increase for the tyres, tubes and flaps it sells in the Japanese replacement market. These increases will take effect on June 1 and come on top of the December 2010 announced truck and bus tyre price rise to be implemented on March 1, 2011. The latest increases apply to both summer and winter tyres and are eight per cent for passenger car, light truck and motorcycle tyres, 15 per cent for OTR tyres for construction and mining vehicles, ten per cent for other kinds of tyres (including those used on industrial vehicles and agricultural equipment) and ten per cent for tubes and flaps.
Financial analysts from Deutsche Bank commented that Yokohama’s recently reported third quarter operating profit margin declined 2 percentage points year-on-year to 11.9 per cent because “price hikes offset only 2.7 billion yen of the 7.8 billion yen of impact to profits from rising natural rubber and other raw materials prices.” They also observed that the company did not alter its guidance due to “uncertainty regarding trends in raw materials prices and foreign exchange rates.” Instead Yokohama, as Toyo subsequently did, announced plans to hike the price of its replacement tyres in the domestic market.
India’s Department of Disinvestment has begun the process of completely divesting the government's stake in the Tyre Corporation of India (TCIL), the first outright sale of a public sector company to take place in India since 2003-04. The Economic Times comments that, should all go to plan, the divestment should be complete this year. Commenting to the financial daily, the chairman of the Board for Reconstruction of Public Sector Enterprises, Dr. Nitish Sengupta, said that TCIL’s balance sheets have now “been cleaned up” and the board has advised the disinvestment department “to proceed with their sale on an ongoing concern basis.” Sengupta added that many bidders may find the tyre enterprise attractive on the basis of its land assets alone.
Bridgestone’s decision to impose a drastic 12 per cent increase of North American truck and bus tyre prices in only likely to recoup roughly a fifth of the increased rubber costs the tyre manufacturer has had to pay recent, Deutsche Bank analysts reported.
Tyres & Accessories recently visited the Dunlop Motorsport tyre factory next to Goodyear Dunlop’s UK headquarters at Tyrefort in Birmingham. While around half of the 1,200 tyres produced on-site daily are designed for four-wheel use, Dunlop was showing T&A its motorcycle range and how motorsport tyre developments have “cascaded down” to the Dunlop brand’s road going range, in the words of Mark Sears, chief design and development engineer for Dunlop motorcycle tyres.
Plans for Cheng Shin Rubber to establish a new truck tyre plant have apparently been ditched in favour of a passenger car tyre facility. The China Economic News Service reports that due to delays in land acquisition the Taiwan based manufacturer of the Maxxis tyre brand is currently not proceeding with the Changnan County truck tyre plant project; instead, the company will focus its attention on passenger car tyres with a new plant in the town of Touliu. The first stage of the facility is being built with an investment of NT$6 billion (₤128.5 million) and production is anticipated to commence in the third quarter of this year. Daily output will be between 12,000 and 18,000 tyres, CENS adds.
Sales for Yokohama Rubber’s tyre operations increase 13.7 per cent in the first nine months of the fiscal year ending March 31, 2011, the company reports. During the nine months to December 31, 2010 Yokohama recorded tyre business sales of 310.2 billion yen (₤2.36 billion) and operating income of 23.2 billion yen (₤176.42 million), up 37.4 per cent year on year. The company reports this sales growth came through gains both in its domestic Japanese and international markets and it more than offset the adverse effect on profitability caused by rising raw material prices as a strengthening yen. Domestic market sales were helped by an economic rebound and heavy snows, which prompted strong winter tyre sales, while overseas growth was most notable in the US and China.
The Goodyear Tire & Rubber Company has announced that it will report fourth quarter 2010 financial results before markets open on Thursday, 10 February, to be followed by an investor conference call at 10:30. Participating will be Richard J Kramer, chairman and chief executive officer, and Darren R Wells, executive vice president and chief financial officer. The company will post its financial information around 45 minutes before the start of the call on its investor relations website. A taped replay will be available later that day by calling (706) 645-9291. The replay will also remain available on the website.
Avon Tyres Motorsport, the competition tyre division of Cooper Tire & Rubber Company Europe, has been confirmed as the official supplier of racing tyres to the 2011 MSV F3 Cup – a series for former Cooper Tires British Formula 3 Series cars. David Scott, race operations manager for MSVR, said: “In the past few weeks there have been intense discussions with tyre and fuel suppliers for the 2011 MSV F3 Cup. As a result, I am delighted to announce that our suppliers will be Avon Tyres Motorsport and Sunoco Race Fuels. Both of these suppliers are well known to the competitors and will require no changes to the cars.”
According to Commission directive 2010/48/EU (which is dated 5 July 2010) and “Adapting to technical progress Directive 2009/40/EC” of the European Parliament and of the council on roadworthiness tests for motor vehicles and their trailers, tyre pressure monitoring systems will become part of the MOT from 1 January. That’s the analysis of the law TPMS supplier tyresensors.com recently shared with Tyres & Accessories.
Al Dobowi Group recently celebrated 35 years of operations in the United Arab Emirates (UAE). This fourth generation tyre business was started in the Middle East with the aim of addressing the needs of a growing tyre management and service industry in the Middle East. Today, says the company, it has grown to become a leading global player in the industry providing clients with superior services and unique solutions to their problems across three continents. The group has grown beyond tyre management into providing clients with all the solutions they need with regards to motion. This includes batteries for motive power, lubricants, conveyor belt systems and technical rubber products.
CM Manzoni SpA, the Italian rubber compound supplier, is reportedly considering opening a plant in eastern Serbia from which it would supply raw material to Pirelli & C SpA’s tire factory in neighboring Romania. News sources reported the news citing Serbian publication Vecernje Novosti, which itself quoted municipal officials in Zajecar.
Birmingham-based Dunlop Aircraft Tyres has appointed Marcus Hancock as technical director. Hancock has 21 years’ experience in the tyre industry and joins Dunlop from Cooper Tire & Rubber Company Europe, where he was general manager for the company’s European Technical Centre with responsibility for overseeing all product development for the region. The company’s former technical director Martin Pye has moved into a new role as head of original equipment sales. He will seek to strengthen Dunlop’s relationship with, and secure new business from customers, including airframers and landing gear manufacturers.
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