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.
(India/Rubber Asia) JK Industries Ltd has reported a net profit of 170 million rupees on a gross turnover of 24 billion (£294.7 million) for the year ended 30 September. JK recorded a net profit of 120 million rupees for the same period last year. Tyre exports stood at 3.82 billion rupees (£46.2 million).
(India/Rubber Asia) A customer satisfaction study conducted in 21 Indian cities has found a progressive reduction in car ownership cycle time (OCT) from an average of 61 months in 2002 to 53 months in 2005. However, the decline in OCT applied more to small and mid-size car models.
(India/Rubber Asia) The off-the-road (OTR) tyre makers in India are refusing to take fresh orders “at least for the next few years” in the wake of an avalanche of orders hitting them. The acute shortage of tyres, especially meant for heavy-duty dumpers, raises a serious threat to one of India’s core sectors, the mining industry, especially coal.
(India/Rubber Asia) At long last Dunlop India, a name that is as deeply steeped in history as it is in litigations, is getting the much-awaited kiss of life. After months of apparently tortuous negotiations, the Kolkata-based Pawan Ruia group has finally wrested management control of Dunlop India and also that of Falcon Tyres from the Dubai-based Jumbo Group for 2 billion rupees (about £25 million). The Jumbo group is owned by entrepreneur Manu R Chhabria.
Continental has introduced what the company describes as “a novel wheel/tyre system” which it believes could revolutionise the fitting of industrial tyres.
Called the CSEasy, the tyre can be fitted on any Lemmerz-type rim without using a mounting press and using only a special, conical-shaped adapter and a torque wrench. The advantages are obvious; no call-out delay and greatly reduced downtime as the tyre is fitted on-site straight away. “CSEasy,” says Continental, “will revolutionise Super-Elastic tyres forever.”
(Akron/Tire Review) Kevin Sapp of Rema Tip Top/North America was elected chairman of the Tread Rubber and Tire Repair Materials Manufacturers’ Group (TRMG) during its recent annual meeting in Las Vegas. Jeff Young of Patch Rubber was elected vice chairman, Phil Boarts of Oliver Rubber Co. was elected secretary, and Thad Perdue of Robbins LLC was elected treasurer. All will serve a one-year term.
A Hamburg court has dismissed a total of 26 actions relating to the merger of ContiTech and Phoenix. In so doing, the court affirmed the validity resolutions made at a Phoenix extraordinary shareholders meeting at the end of 2004. This means the merger has cleared a significant legal hurdle on the road to legal clearance.
(Akron/Tire Review) In 1958 Craig Anderson sold his first set of Goodyear Double Eagles while working at his uncle’s tyre store in New York state. Now, after 40-plus years in the tyre and rubber industry, Craig has stepped down as president and chief executive officer of Hercules Tire & Rubber Co.
(Akron/Tire Review) Despite claims that it has reached an agreement with the United Steelworkers that would pave the way for the completion of its planned purchase of Goodyear Tire & Rubber Co’s agricultural tyre business, Titan International has filed for its fifth extension for the deal. The new deadline set by Titan is 31 December.
(Akron/Tire Review) Despite circulating rumours, according to local media, Goodyear Tire & Rubber Co plans to maintain its operations in the Philippines, and hopes to reach a new deal on a 25-year property lease with the National Development Co there. According to news reports out of the Philippines, Goodyear Philippines president David Joseph Morin disclosed this at the company’s 50th year celebration this week and revealed plans to expand its network of Goodyear outlets in that country. The company’s 25-year lease contract with the National Development Co. for the 18-hectare lot in Las Piñas expired in May 2000 and has been extended month to month.
Natural rubber prices are predicted to keep rising in 2006 for the second straight year, as demand from tyre manufacturers continues to outstrip supply, Rubber World has reported. “Bullishness may persist in the rubber market as demand for the commodity remains quite strong,” Michael Coleman, managing director of Singapore-based Aisling Analytics told Dow Jones newswires.
Michael R Wessel, an attorney with many years experience as a policy and international trade advisor in Washington, DC, has been elected to Goodyear Tire & Rubber Company’s board of directors.
The privately owned Ruia Group has closed a deal to buy Dunlop India Ltd and Falcon Tyres Ltd, from the Dubai-based MR Chhabria group for a reported 2 billion rupees (£25 million).
“An agreement has been reached between Mr Pawan Kumar Ruia and the (Chhabria) Jumbo Group to hand over both Dunlop India and Falcon Tyres,” said H Sandu, a Chhabria group spokesman, confirming the development took place at a meeting in Mumbai.
The tyre-based liner of a former quarry near Sevenoaks in Kent is still burning, eight months after a fire was started by arsonists. The owner of the site, Cory Environmental, had planned to turn the land into a new landfill site.
Czech rubber company Ceska Gumarenska Spolecnost (CGS) has bought Rubena Hradec Kralove, increasing its stake from 99.95 per cent, Interfax reported. The CGS group also includes rubber and tyre producers Mitas and Buzuluk
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