rubber Archives - Page 294 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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Amtel-Vredestein IPO to Raise $308 million

Amtel is offering as many as 19.23 million Global Depositary Receipts, each backed by one ordinary share, at $13 to $16, the company reported. Russian companies have raised about $3.5 billion in share sales in 2005, more than in the 13 years since communism’s demise, the Interfax news agency has reported.

That stake, which includes as many as 11.54 million new shares, will equate to 29.5 per cent of Amtel, valuing it at as much as $1 billion. The company originally said it would sell 25 per cent of its stock. Now Amtel is offering 19,230,770 common shares, including 7,692,308 existing shares. The remainder of the offering will consist of new shares.

1st November 2005/by Tyrepress Editors

Yokohama Launches ‘Intelligent TPMS’

(Akron/Tire Review) Yokohama Rubber Co. has released its Intelligent Tire Pressure Monitoring System (Intelligent TPMS), which not only measures tyre inflation pressure, but also identifies road conditions and tyre motion across the road surface.

Yokohama said that combined with “sideslip (stability control systems) prevention systems being installed on more and more vehicles, Intelligent TPMS can detect vehicle sideslips 0.2 seconds faster than existing systems – a difference of 11 meters of travel at a running speed of 100 kilometers per hour.”

31st October 2005/by Tyrepress Editors

Bridgestone Europe Announces Price Increases

Bridgestone Europe NV/SA announces 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 up to 5 per cent and are scheduled to take effect from 1 January 2006.

According to Guenter Unterhauser, senior vice president sales & marketing of Bridgestone Europe: “Our manufacturing divisions are facing huge increases in raw materials costs. The recent increases in oil based raw materials, as well as natural rubber and energy, puts us in the situation where we have to increase prices.”

31st October 2005/by Tyrepress Editors

JK Tyre to Invest 1.2 billion Rupees in Radial Tyre capacity

(India/Rubber Asia) JK Tyre chief RP Singhania recently announced that his company plans to increase annual production of truck and bus radials to 1.5 million units by 2010. At the same time Mr Singhania spoke of his confidence that India’s road infrastructure “is getting better now.”

JK Tyre told local media that the company plans to invest 600 million rupees in alternate years in its Mysore (South India) plant to increase the capacity from its current annual capacity of 370,000. JK currently holds an 85 per cent market share in the radial tyre segment.

28th October 2005/by Tyrepress Editors

Cooper Buys Majority Share of Chinese Manufacturer

(Akron/Tire Review) Cooper Tire & Rubber Co. today announced that it has reached an agreement to acquire 51 per cent ownership in Shandong Chengshan Tire Company Ltd. (Chengshan) of Shandong, China, and will partner with that company to create Cooper Chengshan (Shandong) Passenger Tire Co. Ltd. and Cooper Chengshan (Shandong) Truck Tire Company Ltd. Cooper said the total investment in the acquisition would be approximately $70 million.

27th October 2005/by Tyrepress Editors

Goodyear Sets Quarterly Sales Mark, Hits $142 Million Profit

(Akron/Tire Review) Goodyear Tire & Rubber Co reported net income of $142 million, the company’s best quarterly result since the third quarter of 1998 and up substantially from its 2004 third quarter profit of $38 million. The profit came against record quarterly net sales and strong results from its tyre operations, Goodyear said. Goodyear recorded sales of $5 billion for the quarter, up 7 per cent from $4.7 billion during the same period last year. 2004 period. Third quarter tyre unit volume increased to 58.4 million units, up 1.8 per cent from last year.

27th October 2005/by Tyrepress Editors

Goodyear Partners with Tredit

Goodyear Tire & Rubber Co has partnered with Tredit Tire & Wheel Company, Inc to provide tyre and wheel assemblies to original equipment trailer manufacturers. Tredit is a leading supplier of wheel and tyre and wheel packages for trailers used in the recreational vehicle, cargo, horse/livestock, boat and utility segments.

27th October 2005/by Tyrepress Editors

BRMA to Become BTMA

The BRMA is to separate into two associations – one for tyre manufacturers and another for rubber companies. The move will take effect on 1 January 2006 when the two groups will be known as the British Tyre Manufacturers’ Association (BTMA) and the British Rubber and Polyurethane Products Association (BRPPA). While the two groups will become distinct entities, the new associations have not ruled out working together in areas such as health & safety and environmental issues. Eight tyre companies will form the initial membership of BTMA, while around 35 firms are expected to move to BRPPA

27th October 2005/by Tyrepress Editors

Bridgestone Officially Opens Steel Cord Plant in China

Bridgestone Corporation officially opened Bridgestone (Shenyang) Steel Cord Co, Ltd, in Liaoning Province, China. Bridgestone invested US$94.3 million in the construction of the plant, which began producing steel cord for truck and bus radial tyres in August this year. Production capacity is projected to reach 70 tons per day by the end of 2007.

About 100 people attended the opening ceremony, including Chinese government and municipal officials such as Song Qi, deputy mayor of Shenyang. Heading the Bridgestone contingent were Masaharu Oku, the board of directors, vice president and senior officer responsible for tyre production and distribution, Hiromichi Odagiri, vice president and senior officer, chief representative of Bridgestone tyre operations in China, Kaoru Fujioka, vice president and officer in charge of steel cord, and various other plant officials.

26th October 2005/by Tyrepress Editors

Tyreguard Gains US Distribution

Cheshire-based Tyreguard systems will soon be selling its tyre sealent products on the other side of the Atlantic after striking a deal with Harvey Westbury Corporation. The agreement will see Harvey Westbury exclusively distribute Tyreguard’s new tyre safety system to the Marine, RV and Industrial sectors in the US, Canada and Puerto Rico. Under terms of the agreement Harvey Westbury will also be able to market Tyreguard to the automotive industry.

26th October 2005/by Tyrepress Editors

Goodyear to Invest $18 Million on Expansion in India

(Akron/Tire Review) Goodyear Tire & Rubber Co said it will invest $18 million in the company’s Indian operations next year. The investment, according to Goodyear, will be used to upgrade technology and increase production capacity for passenger tyres.

25th October 2005/by Tyrepress Editors

Upward Re-Revision of Forecasts

The Yokohama Rubber Co, Ltd has announced a 2.3 per cent increase over its initial forecast for the first half of 2006 (1 April 2005 to 30 September 2005). This means the company expects to record 200 billion yen in net sales, 3.5 billion yen increase in ordinary profit (a 133.3 per cent increase) and 13 billion yen in net income (up 8.3 per cent). According to Yokohama, these upward revisions reflect an increase in the volume of sales in the company’s overseas tyre business, profit improvements in North America, and the weaker-than-expected foreign exchange rate of yen.

25th October 2005/by Tyrepress Editors

Nizhnekamskshina Expands Into Using Silica Technology

After several years of working in close association with engineers from one of the world’s largest tyre manufacturing factories, Chronos Richardson has secured a major order from the CIS. Valued at more than 2.5 million euros, the contract is for silica-based tyre compounding systems for the Nizhnekamskshina factory in Tartarstan.

25th October 2005/by Tyrepress Editors

Analysts Change Recommendations for Cooper and Sumitomo

Deutsche Bank analysts have published a “buy” rating for shares in Sumitomo Rubber Industries. The bank says it sees potential for the company’s share price to grow in the region of 20 per cent. “SRI’s earnings are much better than expected and the acquisition of TBC Tyres in North America through Sumitomo Corporation brings additional positive aspects,” Deutsche Bank representatives reported.

At the same time the bank’s analysts lowered their expectations for Cooper shares and issued a “hold” rating for the company’s stock. Analysts from Deutsche Bank lowered their expectations to $13.50. “Due to weaker demand the company is obviously not meeting the turnover target this year,” the analysts commented.

21st October 2005/by Tyrepress Editors

First CM Primary Shredder for Japan

Columbus McKinnon Corporation, Sarasota Florida Operations and e&Resources of Seoul, Korea are proud to announce the sale of the first CM Primary Tyre Shredder and CM Liberator to be installed in Japan. The equipment has been purchased by the Takahashi Shoji Corporation, which is located on the north island of Hokkaido in the city of Obihiro.

20th October 2005/by Tyrepress Editors