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.
Firestone is beaming about the quality of its R7000 tyre after a recent visit to Suffolk farmer Ray Smith. Mr Smith made an enquiry about some new front tyres for his New Holland 8560 as the tread was low. Upon investigating the tyres, Terry Brown, Firestone area sales manager, found that the tyres were 11 years old. It was estimated that the tractor completed about 1000 hours a year, of which 40 per cent was roadwork.
(Akron/Tire Review) Sumitomo Chemical has announced plans to establish a new company in southern China to manufacture and sell polypropylene compounds for automotive applications.
The new subsidiary, Sumika Polymer Compounds (Zhuhai) Co, will be 55 per cent owned by Sumitomo Chemical and 45 per cent owned by Toyo Ink Manufacturing (not related to Toyo Tire & Rubber Co.). The planned facility, which should open in mid-2006, will have an initial capacity of 10,000 tons/year, with a target of 20,000 tons/year at full capacity.
(Akron/Tire Review) Even after reports that negotiators had to take a break to accommodate the upcoming NCAA men’s basketball championships in St. Louis and the United Steelworkers of America’s (USWA) April national convention in Las Vegas, there remain concerns on whether the USWA and Bridgestone/Firestone North American Tire (BFNAT) can resolve their apparently deep differences and reach agreement on a new master contract.
(Australia/Tyre Review) There is no immediate end in sight to the global off-road tyre shortage, according to a recent report from Australia, and most tyremakers in Australia say things will remain tight for at least another year – perhaps longer.
According to the news report, the causes of the shortfall include the Chinese economy, which is taking large numbers of OTR tyres directly, heavy Chinese demand for raw materials which has increased demand for rubber-tyred mining equipment, worldwide rubber shortages, and a lack of investment in expanding tyre production.
(Akron/Tire Review) According to a United Steelworkers of America (USWA) website, the union and Cooper Tire & Rubber have “agreed to postpone” an injunction hearing that was scheduled to be held yesterday. No further details were given.
The date for this year’s BRMA Rubber Industry Dinner has been released. It will again be held at the Hanover International Hotel, Hinckley, Leicestershire on 14 October.
This year’s event will have a ‘Vegas’ feel, which will include live cabaret, a raffle, dancing, and casino tables.
The BRMA warn that there are only a limited number of events available for sponsorship this year and encourage companies to come forward and support the event.
(Akron/Tire Review) With advances in technology, materials and manufacturing, today’s radial truck and bus tires provide more performance, reliability and safety than ever before. Truck and bus tyre manufacturers design their tyres for multiple lives, meaning the tyres are designed to be retreaded. And every day, millions of retreaded truck and bus tyres are performing flawlessly all over the world in all types of weather and on all kinds of roads.
(Texarkana/Tire Review) Roughly 1,000 people turned out for a union-organised rally supporting the 1,600 workers that went on strike nearly a week ago at Cooper Tire & Rubber Co.’s Texarkana, Arkansas plant. David Boone, union president, said the union’s executive committee received a 95 per cent backing in a vote granting the authority to call a strike.
Michelin’s Vitoria factory has set itself the challenge of beating its own record and making 11.5 million car and giant excavator tyres, Spanish news sources have reported.
All four Michelin’s Vitoria business units, giant tyres, car tyres, cable and rubber, registered growth in 2004, thanks to a 12 per cent upturn in the world tyre market. During the year, more than 10.8 million car tyres left the Vitoria plant for car manufacturers, including Volkswagen, Ford, Seat, Renault, Opel, Peugeot and Citröen, who accounted for 30 per cent of the units produced. The other 70 per cent went to the spares market, to workshops, garages and inspection centres.
(Akron/Tire Review) Goodyear Tire & Rubber Co has announced that is proposes to add a $300 million third-lien secured term loan facility. The financing, due in March 2011, is in addition to new credit facilities of about $3.35 billion maturing in 2010. The $300 million financing, which is being arranged by JPMorgan and Deutsche Bank Securities, will be secured equally with existing secured bonds due in 2011 and is expected to close in April, the company said.
(Akron/Tire Review) Cooper Tire & Rubber Co has introduced the Cooper Discoverer ATR, a new line of light truck/SUV radials that the company says “offers uncompromising on and off-road performance, going beyond ordinary all-terrain tyres.”
Michelin equipped Fernando Alonso dominated the Malaysian Grand Prix at Sepang, winning by 24.3 seconds. Jarno Trulli, who scored Toyota’s first podium in Formula 1, took second place. Williams’ Nick Heidfeld was third with Juan Pablo Montoya fourth for McLaren. David Coulthard was sixth ahead of Michael Schumacher, who started 13th, while Jenson Button retired after three laps with engine failure. Seventh place Schumacher was the only Bridgestone driver to end up in the top eight, with teammate Rubens Barrichello retiring.
The Hindu Business Line newspaper has given Apollo Tyres its ‘buy’ rating. Though the performance of the Indian tyre companies have not been overly impressive in recent quarters, the situation is likely to improve, the report added, suggesting that Budget proposals along with the price hikes effected in the past would have a positive impact on tyre companies’ earnings.
(India/Rubber Asia) The profits of MRF, one of India’s largest tyre makers, are continuing to come under pressure. With raw material costs showing no signs of easing, the company is resisting attempts to pass cost pressures onto consumers. Chairman and MD, K M Mammen summed up the situation when he admitted that the company was searching for areas where is could rein costs in to “protect our profits.”
(India/Rubber Asia) When the Indo-Lanka Free Trade Agreement (FTA) was signed in December 1998, informed opinion may have considered it experimental. In Sri Lanka, the questions raised were: “Will Indian goods flood the Sri Lanka market?” and “Does Sri Lanka have the resources to penetrate the vast Indian market?”
The FTA became operational in March 2000, and trade across the Palk Strait has expanded significantly since then. When the Sri Lankan and Indian Prime Ministers met in June 2002, they decided to widen the scope of cooperation under the FTA which dealt with trade and tariffs, to include services, technology and investment, thus moving the two economies towards greater integration and propelling them forward to a Comprehensive Econonomic Partnership Agreement (CEPA).
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