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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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Datillo: Cooper Paid $107 million for Kumho Share

In an exclusive interview with Tire Review last week, Tom Dattilo, chairman, president and CEO of Cooper Tire & Rubber, said the tyre manufacturer ended up paying “about $107 million” for its 11 per cent stake in Kumho Tire Co.

Cooper purchased the stock during Kumho’s dual initial public offerings on the London and Seoul exchanges earlier this year. “That was our 11 per cent stake. I saw a set of figures last week that put it at about $110 million, and we had expected it to come in at the low to mid $140s. A couple of analysts were speculating $140, 150, $160 million, but that was all part of the process of trying to get as high a price as they could,” Mr Dattilo told the magazine.

2nd March 2005/by Tyrepress Editors

Yokohama Exhibits Advan at Geneva Show

Yokohama Rubber will show exhibit at the 75th Geneva Motor Show, highlighting the company’s Advan flagship brand. The company will exhibit a Gemballa Cayenne fitted with 22 inch Advan ST tyres emphasising its focus on high performance technology, according to a statement. Yokohama Rubber will also exhibit its safety support technologies at the show, including its Zero Pressure System, Support Ring Run-flat System, and tyre pressure monitoring system for passenger cars.

1st March 2005/by Tyrepress Editors

Yokohama Rubber to Launch World Advan Site

Yokohama Rubber Co has announced that it has launched an English-language world Advan site. The website will provide information on the brand policy and the latest ADVAN offerings, as well as links to dealer home pages around the globe. The company says the web site will underscore its brand image with the “Not for Everyone” catchphrase. The web page will also feature Advan Spirit and Product sections, which will highlight the company’s concepts initial offerings respectively. The website can be accessed through http://www.advan.com.

1st March 2005/by Tyrepress Editors

Indian Tyre Market

Tyre dealers across India are urging the government to lower the import duty on tyres to five per cent from the existing 20 per cent. The request aims to “checkmate the activities of the domestic tyre majors,” reports Team India.

28th February 2005/by Tyrepress Editors

Goodyear/Titan Rumours Turn Out to Be True

The Goodyear Tire & Rubber Company has announced that it has reached an agreement with Titan Tire Corporation to sell its North American agricultural tyre assets. The sale, valued by Goodyear at $100 million, will include the company’s manufacturing plant, property and equipment in Freeport, Illinois as well as a licensing deal. This part of the agreement would see Titan produce Goodyear branded agricultural products in North America. Goodyear reports that the sale will result in a revenue reduction of about $200 million per year.

28th February 2005/by Tyrepress Editors

Fire at Continental’s Mayfield Plant

A fire a Continental Tire’s Mayfield plant, caused minor injuries to two workers. According to the associated press, Fire investigators said that it appears the fire started inside the ductwork, but was under investigation. The fire started shortly before noon and caused minor burns to the arm of one worker and singed the hair of another, plant manager Hank Eisenga is reported as saying. The blaze, which started accidentally in a corner of a large room where rubber-related chemicals are mixed, was quickly extinguished by workers before Mayfield firefighters arrived, Mr Eisenga said. The plant manager added that the plant was expected to be back to normal within 24 hours. Continental ceased production at the Mayfield at the end of last year. The fire affected one of only two areas in which the factory is still operating – storage and mixing.

28th February 2005/by Tyrepress Editors

Toyo Group Announces Executive Appointments

Toyo North America has appointed Shozo (Carlos) Kibata president, and Toyo Tire (USA) Corp has appointed Masaharu Yoshimoto as executive vice president, Tire Review has reported. Kibata, who will remain president of Toyo Tire (USA) Corp, will be stationed in Georgia, beginning in July, to oversee the construction and operation of the tiremaker’s new US manufacturing facility in Bartow County. The facility is expected to produce 2 million tyres annually for the North American passenger car and light truck segments. Yoshimoto joined Toyo Group in April 1972 and worked in the US for seven years. Since June 2001, he has served as president and CEO of Toyo Tyre & Rubber Australia Limited.

25th February 2005/by Tyrepress Editors

Bridgestone: Cautious as Usual

Analysts were not surprised by Bridgestone’s recently posted operating profit increase of 7.9 per cent, according to a Deutsche Bank report. At the same time as posting its 2004 full year results, the company predicted a downturn in operating profit of 14 per cent in 2005. The analysts’ verdict? Cautious as usual.

“The numbers did not surprise, as usual beating the company targets. They were driven by higher volumes in Europe and the US and an improved product mix,” the report says. The Deutsche Bank representatives continued by commenting that Bridgestone’s projected full year profit dip has accounted for higher raw material costs, but not the effect of passing these on to costumers. According to the analysts Bridgestone’s conservative estimates reflect a desire to reinforce its negotiating position with synthetic rubber and chemical material suppliers; underscore how tough the earnings environment is in order to make a stronger case for its own price increases; and gives extra leverage for unresolved labour contract issues with North American unions.

22nd February 2005/by Tyrepress Editors

Sealing the Motorcycle Tyre Market

“If Nick says it’s good then it must be,” says Mark Gregory, national franchise manager for Punctureseal, when asked about the company’s tyre sealant. Nick Sanders, the person he refers to is a renowned adventure/endurance biker who is well known in biking circles for his world moto challenge, where he circumnavigates the globe on his Yamaha R1. Nick advocates the brand by both using it on his own tyres and recommending it to all that travel alongside him.

22nd February 2005/by Tyrepress Editors

Kraiburg to Invest in Chinese Greenfield Site

Gummiwerk Kraiburg is continuing to develop its international market position. This is why the Austrian corporation will invest in a new rubber mixing facility in China which will be built without any local partners. From 2006 onwards the company will produce “rubber for non-tyre applications,” Thorsten Schmidt, vice president Gummiwerk Kraiburg Austria, explains. The greenfield project will cost about 6 million euros and the new company will be a 100 per cent Kraiburg subsidiary. Now that Kraiburg has acquired the necessary real estate in the Shanghai area, construction work is about to begin.

21st February 2005/by Tyrepress Editors

Goodyear Offers DuraSeal Guarantee

Goodyear Tire & Rubber Co has announced that it’s offering US customers a $50 guarantee on tyres equipped with its self-sealing DuraSeal commercial tyre technology. The tyre company says it will pay out $25 for a tyre’s first retread if punctures up to a quarter of an inch in diameter in the tread area do not seal. Sidewall punctures will not be covered. DuraSeal technology initially will be available in Goodyear’s new Unisteel G287 MSA and G288 MSA mixed-service tyres. The company believes the technology will be popular in logging, landfill, construction, road building and other related applications.

21st February 2005/by Tyrepress Editors

Changing Strategy in Siberia

A changing market environment and growing consumer demand in Russia has encouraged Matador to target the increasing opportunities offered by the market. The Slovakian tyre manufacturer is preparing for the future by initiating a new brand strategy and further investments into its Russian joint venture in Omsk. 2005 is an appropriate year for Matador to contemplate future development of its tyre business, as it will celebrate two important anniversaries during the coming months. In May the company will celebrate its 10th year at the Russian factory Omskshina, followed by its 100th anniversary in the autumn.

19th February 2005/by Tyrepress Editors

Sumitomo and Hwa Fong Team Up

Duro brand tyre maker Hwa Fong Rubber Industrial has received an order from Sumitomo Rubber for 750,000 ATV tyres annually, according to reports out of Taiwan. Hwa Fong Rubber Industrial’s plant in Thailand will reportedly produce the tyres, writes Tire Review.

Hwa Fong Chairman Steven Chang said the order is a “major achievement” for the company’s ATV tyre business. Deliveries are set to begin in April. Chang said the order is so large that Hwa Fong is investing $13 million to $16 million to add capacity at the Thailand plant.

18th February 2005/by Tyrepress Editors

Sumitomo’s 2004 Results Beat Forecast

Sumitomo Rubber has released strong 2004 results, at the same time as announcing both the appointment of Tetsuji Mino as president.

Net sales were recorded at 3.41 billion euros. Operating income rested at 329.9 million euros, of which 238.4 million euros (equating to 72.3 per cent) came from tyres. This showed a decrease compared to 2003 where 82.6 per cent of operating income came from tyres. Net income was 138.9 million euros from 94.9 million in 2003 and net sales were 2.59 billion euros, or 76 per cent of overall sales.

18th February 2005/by Tyrepress Editors

Yokohama Establishes Korean Subsidiary

Yokohama Rubber Co. established Yokohama Tire Korea Co. Ltd., a wholly owned sales subsidiary, which will now handle all marketing and sales efforts in South Korea, Tire Review has reported. Previously, a local distributor represented Yokohama in that country. The subsidiary, established in mid-January, will begin operations this month, according to Yokohama Rubber Co. Yokohama said it hopes to reach $10 million in sales in South Korea within three years.

17th February 2005/by Tyrepress Editors