rubber Archives - Page 292 of 347 - Tyrepress

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.

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Degussa to Embark on Chinese Joint Venture

Degussa AG, Dusseldorf, and Rizhao Lanxing Chemical Industry Co, Ltd (Lanshan-Rizhao, Shandong Province) have agreed to establish a joint venture for the manufacture of sulphur-functional silanes for rubber applications. This agreement represents the successful conclusion of negotiations that followed a memorandum of understanding signed by the two companies in July.

Degussa will own a 50 per cent share in the new joint venture, and Lanxing 40 per cent. An unnamed financial investor will assume the remaining 10 per cent. Degussa is the worldwide leading manufacturer of silanes for rubber applications. Lanxing has operated as a well-established local manufacturer on the Chinese market since 1998. The new joint venture company will begin operating under the name Degussa Lanxing (Rizhao) Chemical Industrial Co, Ltd, following approval by the responsible bodies, and having obtained all licenses from the Chinese authorities. The company is scheduled to produce sulphur-functional silanes in liquid form and as a blend with carbon black.

22nd November 2005/by Tyrepress Editors

T&A Expands Global Consortium

Canada’s Tire News and Pneu Mag, published by Publications Rousseau & Associes, have joined the global tyre publication consortium formed by Europe’s Tyres & Accessories and Neue Reifenzeitung with America’s Tire Review nearly a year ago.

With the addition of the Canadian magazines, which cover all aspects of Canada’s tyre industry from coast to coast, the consortium now encompasses eight highly respected tyre publications. Besides Tire Review, Tyres & Accessories and Neue Reifenzeitung, the group includes Southern Africa Treads (South Africa), Rubber Asia (India) and Australian Tyre Dealer (Australia).

22nd November 2005/by Tyrepress Editors

Cooper Announces 135th Consecutive Quarterly Dividend

(Akron/Tire Review) Cooper Tire & Rubber Co announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 December to stockholders at the close of business on 2 December. According to Cooper, this is its 135th consecutive quarterly dividend.

21st November 2005/by Tyrepress Editors

Cooper Names IT Manager, Mickey Thompson Division

(Akron/Tire Review) Cooper Tire & Rubber Co has named John F. Naftzger manager of information technology for the manufacturer’s Mickey Thompson division. In his new position, Naftzger will be responsible for all IT activities for Mickey Thompson in both the Stow, Ohio, and Corona, California, locations, according to Cooper. Naftzger joined Cooper in 1994 as a systems developer and has been senior systems developer since 2001. He earned a bachelor’s degree in computer science from the University of Findlay in Findlay, Ohio, and an executive MBA from Ashland University in Ashland, Ohio.

21st November 2005/by Tyrepress Editors

Bridgestone Accused of Using Slave Labour

The Washington-based International Labor Rights Fund has filed a Federal lawsuit alleging that Bridgestone Corp uses slave and child labour on its rubber plantation in Harbel, Liberia, news agencies have reported.

The suit seeks class action on behalf of 12 adult workers and 23 children and claims the plaintiffs could not bring similar court actions in Liberia because of fear of retribution and a corrupt court system. The suit requests a jury trial and unspecified damages, according to the Associated Press.

21st November 2005/by Tyrepress Editors

Cooper Appoints Barnett, Schroeder to New Roles

(Akron/Tire Review) Cooper Tire & Rubber Co has appointed Kerry A Barnett as director of financial planning and commercial analysis and Gary C Schroeder as director of credit.

In her new position, Barnett will be responsible for developing annual plans, monthly updates and forecasts for Cooper’s North American tire division and will consolidate operating plans for Cooper-Avon and the company’s Asian operations. Barnett will also oversee customer accounting and customer profitability reporting, commercial analyses and financially related sales and marketing activities, Cooper stated in a release.

17th November 2005/by Tyrepress Editors

Michelin Eyes Expansion in South Carolina

(Akron/Tire Review) WSOC TV in South Carolina is reporting that Michelin North America plans to invest some $80 million on upgrades to its rubber mixing and tyre plants in Anderson County, South Carolina. According to the report, MNA submitted plans to the Anderson County Council earlier this week. The station said that MNA plans a formal announcement later this month.

17th November 2005/by Tyrepress Editors

IRSG Predicts NR Price Will Stay Strong

London-based International Rubber Study Group (IRSG) expects the price of natural rubber to remain strong in the next 10 to 15 years, increasing by about 25 to 30 US cents per kilo annually. Secretary-general Dr Hidde Smit told the Malaysia Star that the IRSG’s price forecast for NR this year was about $1.45 per kilogram, slightly higher than US$1.40 per kilo projected for 2004.

“There is an upward pressure for NR prices to be traded higher, buoyed by the increasing rubber consumption in the tyre sector, particularly in China, as well as the switch to NR from higher cost synthetic rubber due to higher crude oil prices,” he said.

17th November 2005/by Tyrepress Editors

Bridgestone to Raise Tyre Prices in Japan

The Bridgestone Corporation has announced that it will raise the replacement market prices of tyres, tubes and flaps sold in Japan. The move will take effect from 1 February 2006. Prices for winter tyres will be increased on 1 April 2006. Specific price increases include five per cent for passenger car and light truck tyres, seven per cent for truck and bus tyres, seven per cent for construction vehicle bias tyres, 10 per cent for construction vehicle radial tyres, and five per cent for other kinds of tyres (excluding those for motorcycles) and for tubes and flaps. Bridgestone points out that these figures are the average increases across each of the respective ranges.

17th November 2005/by Tyrepress Editors

Cooper Makes Tender Offer to Buy Back Debt Notes

(Akron/Tire Review) Cooper Tire & Rubber Co has commenced a cash tender offer for specified series of its outstanding debt, and is offering to purchase up to $175 million in an aggregate principal amount of its outstanding 7-3/4 per cent notes due 2009, 7-5/8 per cent notes due 2027, and 8 per cent notes due 2019. The tender, said Cooper, will expire at the close of business on 13 December.

15th November 2005/by Tyrepress Editors

Sumitomo Rubber Publishes Strong Q3 Results

Sumitomo Rubber Industries has published sales of 120 billion yen (£581 million, up 8 per cent year-on-year) and operating profit of 9.3 billion yen (£45 million up 18.6 per cent year-on-year). Analysts report that results were ahead of plan and tyre sales particularly “outperformed forecasts.” Exports are reported to have been particularly strong and high performance tyres are said to have sold well domestically.

As a result of the strong quarter Sumitomo has raised its full year forecast to sales of 500 billion yen (up 6.3 per cent) and operating profit of 46 billion yen (up 1 per cent). However, Deutsche Bank analysts said: “We feel that the company is somewhat conservative about our fourth quarter. Our current forecasts are sales of 496.0 billion yen [and] operating profit of 50.0 billion.”

15th November 2005/by Tyrepress Editors

WRAP Selects EER Ltd

After a competitive tender process, WRAP (the Waste & Resources Action Programme) has chosen US-based EER Limited, an international consulting firm specialising in waste tyre reuse, recycling and recovery, to carry out a comprehensive study of international ‘Best Practices’ for recycling scrap tyres into marketable products. “EER Limited’s wide-ranging international experience was important in the decision making process,” said Steve Waite, WRAP’s Tyre programme manager.

15th November 2005/by Tyrepress Editors

Yokohama Establishes Company to Control its Business in China

The Yokohama Rubber Co, Ltd, has announced that it will establish Yokohama Rubber (China) Co, Ltd, in Shanghai, China, to exercise overall control of business operations at each of its companies in China. Yokohama Rubber (China) will be capitalised at $30 million.

Yokohama Rubber has engaged in businesses in China through three production and sales companies: Hangzhou Yokohama Tire Co, Ltd (established in December 2001), producing and selling tyres for passenger cars; Yokohama Hamatite (Hangzhou) Co, Ltd (established in February 2004), producing and selling sealant for passenger cars; and Yokohama Hoses & Coupling (Hangzhou) Co, Ltd (established in December 2004), assembling and selling high-pressure hoses. As part of its further business expansion in China, Yokohama Rubber says it intends to establish a joint venture company to produce and sell conveyor belts in January 2006, and another joint venture company to sell tyres in April 2006.

10th November 2005/by Tyrepress Editors

Yokohama Reports Increased Earnings

The Yokohama Rubber Co Ltd posted a 10.7 per cent increase in operating income, to 4.8 billion yen, in the interim fiscal period ended 30 September. The increase is attributed to a 6.1 per cent increase in net sales, to 201.3 billion yen. Furthermore the company reports that growth in unit sales of tyres and progress in reducing costs more than offset increases in raw-material costs. Leading the sales growth were gains in Yokohama’s tyre operations in North America and in Europe. The company also registered growth in sales of tires in Japan. A decline in income taxes was the chief reason for a 12.6 billion yen increase in net income, to 13.4 billion yen.

10th November 2005/by Tyrepress Editors

Cooper Sees 3Q Results Fall

Driven by operating losses in all of its tyre units, Cooper Tire & Rubber Co finished the third quarter with a net loss of $1 million and sales that nudged just 1 per cent over last year’s results. Analysts described the company’s third quarter as “challenging” and warned that there are “more headwinds to come.”

For the quarter, Cooper posted sales of $558 million, up 1 per cent against the same period in 2004. The net loss, said Cooper, came as a result of lower unit sales, higher raw material costs, and “higher reported interest expense.”

10th November 2005/by Tyrepress Editors