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According to Sumitomo Rubber Industries’ interim financial results for 1 January to 30 June, the Japanese made net sales of 333.7 billion yen (£2.3 billion). Despite this 3.6 per cent year-on-year rise in net sales, operating income fell 7.9 per cent to 29.7 billion yen (£194.9 million) and net income 6.7 per cent to 15.5 billion yen (£101.5 million).
Upon reporting its first quarter 2013 financials on 19 August, China’s Keyuan Petrochemicals Inc. also shared that it intends to add to the company’s Solution Polymerised Styrene Butadiene Rubber. “The increasing market demand in tyre and auto parts has resulted in increasing market demand for styrene, ABS and SSBR,” The company added that “rather than focusing on optimising the current utilisation rates for its different facilities,” it has decided upon expanding capacity through a number of projects, including a new SSBR plant.
Cooper Tire & Rubber’s acquisition by Apollo Tyres is expected to close within a matter of months, and the new owner may need to reckon with a unionised plant in Tupelo, Mississippi. According to US industry publication Tire Review, local media have reported the presence of the United Steelworkers union in town.
Metzeler has rounded out its road racing season with its first year as title sponsor of the Ulster Grand Prix, at which Tyco Suzuki’s Guy Martin took three victories on the company’s rubber. Martin’s Supersport and feature Superbike race wins were joined by victories for Ivan Lintin in the Lightweight class, while Gary Johnson and Dean Harrison also enjoyed strong performances in the Superstock race. The weather led to the cancellation of the Dundrod 150 races on Thursday, but Metzeler enjoyed a victorious day on Saturday as the brand completed the first of three years as title sponsor to the World’s fastest road racing event, the Ulster Grand Prix.
Extending its relationship with Porsche once again, Michelin has announced the release of a new Pilot Super Sport tyre for the Carrera GT. The manufacturer claims that the new version of the tyre “noticeably enhances the handling of the 1,270 versions of the super sports car built between 2003 and 2006.” The tyre has been brought in to replace the current Pilot Sport PS2 fitment, updating the specific fitment provided to the model by the French manufacturer. Michelin has been developing new specifications of the Pilot Super Sport for the luxury car market since its introduction in late 2010.
Apollo Tyres does not anticipate that alterations to India’s overseas investment regulations will influence its plans to acquire Cooper Tire & Rubber. On 14 August, the Reserve Bank of India (RBI) reduced the limit for overseas direct investment; with immediate effect the limit for overseas direct investment must be no more than 100 per cent of the Indian purchasing company’s net worth. The RBI will decide upon any overseas direct investment exceeding the 100 per cent limit on a case-by-case basis.
No dinosaurs went into the production of a tyre Sumitomo Rubber Industries will launch at the Tokyo Motor Show – some 12 years after it began working to reduce fossil fuel content in its products, the Japanese company is now ready to roll out its first 100 per cent fossil fuel-free tyre. And when the show begins on 23 November, visitors won’t just be looking at another concept tyre – Sumitomo says it is gearing up to introduce this milestone in its Enasave programme into the domestic market. The new tyre will be sold under the Dunlop brand name.
JK Tyre & Industries is one of three companies named as joining the International Rubber Study Group’s Panel of Associates. The Indian tyre maker’s membership, along with that of Evonik Industries and International Rubber Consortium, was announced on 15 August. The IRSG Panel of Associates now has 123 members.
On 28 May, JK Tyre & Industries poured water on news published by Indian financial daily The Financial Express, stating it had “no firm proposal” to acquire a tyre manufacturer in Southeast Asia for Rs 1.5 billion (£15.7 million) and that it had “not made any commitment whatsoever” to this effect. Yet at the time the company was still committed to investing in the region, specifically in rubber plantations. Now it appears this project has been shelved, or even dropped entirely.
On 14 August, Toyo Tire & Rubber, along with its North American subsidiary Toyo Tire Holdings of Americas and its affiliates, filed a formal complaint before the United States International Trade Commission (ITC) against 22 manufacturers, importers, and sellers of passenger and light truck tyres.
Pirelli supplied three separate winners with its softer compound Superbike SC1 slick tyres on front and rear in a dramatic trio of Oulton Superbike races. BSB legend Shane ‘Shakey’ Byrne took a historic 50th series win, while Josh Brookes and Alex Lowes also booked their places in the coveted Showdown, reserved for the top six riders to battle for the title. Pirelli racing manager Jason Griffiths commented: “We witnessed some fantastic racing over the weekend here at Oulton Park which produced three worthy winners. The crowd and TV viewers were certainly treated to some of the best racing I’ve seen and it was also great to again see five manufacturers in the top five at times. From our point of view it was fantastic to see race fastest laps logged so late in the races, again proving the performance and durability of the soft compound Superbike Diablo slicks.”
On 1 August, Andreas Penkert, former CEO and director of Continental India Ltd, the former Modi Tyres operation acquired in 2011, has taken over leadership of sales and marketing for Pirelli in Germany. In his new role Penkert reports to Pirelli Deutschland GmbH CEO Michael Schwöbel and Pirelli tyre S.p.A. Central Europe CEO Daniele Deambrogio.
Goodyear Tire & Rubber is set to receive its first Trade Americas Award from the Latin Trade Group at this year’s BRAVO Business Awards on 25 October. The tyre maker reports it will be given the BRAVO Trade Americas Award for its “valuable contributions fostering the development of small and medium size enterprises development in the Latin America region.”
The Yokohama Rubber Co., Ltd. subsidiary YH America, Inc. (YHAI) will produce automotive air conditioning hoses in Mexico next year. According to the company YHAI plans to begin delivery of the hoses to a Japanese car maker in Mexico from summer 2014. To limit the investment burden, YHAI will consign assembly to a local company rather than build its own plant. It also aims to use the Mexican output to expand transactions with Japanese car makers and with the US Big Three. Local Mexican production will be located in the suburbs of the west central Mexican city of Aguascalientes, where a number of auto makers have established plants.
The Yokohama Rubber Co., Ltd., reported record first half sales for the first six months of 2013. According to the company, net sales edged up 0.3 per cent over the same period of the previous year, to 269.7 billion yen. However, while sales were high, profitability took a hit. Operating income declined 4.2 per cent, to 19.1 billion yen, and net income was down 5.3 per cent, to 13.0 billion yen. The tyre division appears to have borne the brunt of this.
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