rubber Archives - Page 315 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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Lion Rubber to Sell Chinese Business

Lion Rubber Industries, a subsidiary of Silverstone Corporation, is proposing to sell its entire 55 per cent stake in Dong Feng Lion Tyre Co Ltd (DFLT) to Dong Feng Tyre Group (DF Tyre) in a deal valued at roughly £31.32 million. The Edge news service has also reported that the company terminated an earlier proposal to sell 10 per cent of DFLT to Beijing Jing Cheng Zhanye Bio-Technology Co Ltd.

The deal will reportedly help DF Tyre settle an inter-company loan and finance its plans to push internationally. Lion Group only recently orchestrated a joint venture agreement with China’s Shandong LuHe Group Co Ltd to make Silverstone-brand tyres in China for the Chinese market.

3rd February 2005/by Tyrepress Editors

Michelin Opens New Retread Facility and Launches New X One Tyre

Michelin Retread Technologies has announced that it is adding a new press at its Covington, Georgia facility in the US, Trucking News has reported. The new MRT press is designed to produce new high-technology treads and to take advantage of Michelin’s advanced co-extrusion technique, a process where two different rubber compounds are combined to produce cooler casing temperatures, maximising the life of the casing.

2nd February 2005/by Tyrepress Editors

Goodyear Looks Forward to ‘Winning’ in 2005

Jon Rich, president of Goodyear Tire & Rubber’s North American division, is “extremely bullish” about 2005, according to a Tire Review report. “New products are going to be the lifeblood of the new Goodyear,” Mr Rich, told delegates at the company’s annual dealer meeting in Dallas. The theme of this year’s conference is “capture the moment, create the future,” assuring dealers there was more to come.

2nd February 2005/by Tyrepress Editors

Rating Agency Reviews Cooper’s Debt Rating

Moody’s Investors Service is reviewing and may downgrade the debt rating for Findlay’s Cooper Tire & Rubber Co, the rating agency has said. Cooper Tire officials told Moody’s they expect to use $100 million to $200 million of proceeds from the nearly $1.2 billion sale of Cooper-Standard to reduce debt, the agency said. Other proceeds will be used for a “significant amount of stock repurchases.” However, the $100 million to $200 million amount would not lower debt enough, and repurchasing shares would increase financial risk, according to Moody’s.

2nd February 2005/by Tyrepress Editors

Amtel Revenues up 18 per cent

Amtel Holdings Holland (AHH) has announced that company revenues grew to $451 million in 2004, up 18 per cent. “Amtel produced more than 14 million tyres in 2004, making it a record-breaking year,” Mr Gurin noted. The unaudited results were made public by AHH managing director, Alexei Gurin, during a press briefing at Russia’s biggest annual tyre exhibition – Tires & Rubber 2005.

2nd February 2005/by Tyrepress Editors

Kumho Sets IPO Prices

Kumho will launch initial public offerings (IPO) on both the South Korean and London stock exchanges at $15.58 per share, South Korea’s Dow Jones has reported. The tyre manufacturer expects to raise approximately $400 million (£210 million) in the sale. Kumho Tire Co. is said to be selling some 25 million shares in the simultaneous IPO. “A heavy flood of orders is expected to be placed before the offer close,” Dow Jones reported.

The news follows Cooper Tire & Rubber’s early January announcement that it would buy an 11 per cent share of the company, which amounts to 7.5 million shares.

1st February 2005/by Tyrepress Editors

Indonesian Supreme Court to Rule on Goodyear Trademark

After 10 years of written notices and attempted negotiations, the Indonesian Supreme Court is about to settle a dispute between Goodyear Tire & Rubber (GTRC) and PT Banteng Pratama Rubber. Goodyear contends that Banteng continues to produce bicycle tyres using the Goodyear trademark even though its agreement with GTRC expired in 1993. Banteng even created its own “Goodyear-Luckystone” brand and uses the American conpany’s winged foot logo on its products and letterhead.

31st January 2005/by Tyrepress Editors

Avon Unleashes the Viper

“The new tyre range represents a major advance in sports tyre design and is the result of years of testing combined with original and innovative engineering concepts. We are proud to deliver this three-tier offering of 19 sizes to the motorcycle market and have great confidence that it will be enthusiastically received” – Avon’s motorcycle product manager, Pete McNally, can only be that enthusiastic about one thing – the Viper has finally been unleashed.

27th January 2005/by Tyrepress Editors

Michelin invents Road-Legal Multi-Compound Racing Tyre

Michelin has launched the first road legal multi-compound racing tyre, the Power Race. The hypersport bike tyre utilises Two-Compound Technology (2CT), which the manufacturer says represents a “leap forward in the development of commercial motorcycle tyres.”

26th January 2005/by Tyrepress Editors

Regaining a Foothold in Motorcycle Retreads

Tomahawk has been through some major changes since its inception eight years ago. Set up in Wolverhampton, following two and a half years of research and testing it was the first business of its kind to retread motorcycle tyres in the UK. It was business as usual for the company until an American firm approached it two years ago, wanting to join forces to develop the retreaded motorcycle tyres for the US. Tomahawk entered into a commercial agreement with Cycle Tires, a subsidiary of aircraft tyre technologist, Desser Tire & Rubber and hasn’t looked back.

25th January 2005/by Tyrepress Editors

Indian Tyre Industry Seeks Radial Duty Reduction

The All India Tyre Dealers’ Federation has urged the Indian finance ministry to rationalise excise duty on automotive tyres, supporting the introduction of radial tyres. In its pre-budget memorandum, the federation requested the government to fix excise duty on radial tyres at the rate of 16 per cent on heavy vehicles and at 8 per cent for tractors to boost the sales of radial tyres. The federation has also been pressuring the authorities to lower import duty on tyres.

24th January 2005/by Tyrepress Editors

Toyo’s Best Autosport Show Ever

In its recent first half 2005 results, Toyo Tire & Rubber reported that operating income rocketed 120.8 per cent. This was said to be due to a 25.9 per cent increase in sales of high value products, with general sales improving by 8.7 per cent. Now, having exhibited at the Autosport Show, Toyo is claiming to have “kicked into overdrive” with its “best show ever.” Tyres & Accessories took the opportunity to catch up with marketing director, Mike Rignall.

24th January 2005/by Tyrepress Editors

Degussa Increase Carbon Black Production

Degussa has begun plans for a fourth production line at its carbon black plant in Qingdao, even though its third line is still under construction. The German company will significantly increase its manufacturing capacity in China with the new investment.

“After completion of our current expansion projects we will be able to produce more than 100,000 metric tons of carbon black,” said Robert Wissner, head of Degussa’s Fillers & Pigments Business Unit.

21st January 2005/by Tyrepress Editors

Goodyear Considers Restructuring Options

Goodyear Tire & Rubber is considering restructuring options, including the closure of North American plants, shifting work to “low-cost” countries and cutting an unspecified number of jobs, the Wall Street Journal has reported.

21st January 2005/by Tyrepress Editors

Hankook and Kumho Fined

The South Korea monopolies commission has said it will fine Hankook Tire and Kumho Tire 4.1 billion won (£2.1 million), Korean newspapers have reported. The Fair Trade Commission (FTC) said the two companies had raised the prices of products shipped to their distributors after consulting each other, violating the country’s fair trade act.

The fines break down to 2.2 billion won for Hankook and 1.9 billion won for Kumho. The ruling comes after both companies raised their prices by between five and 10 per cent in May 2004, on the pretext of higher international rubber prices. The FTC is reported to have said both companies have admitted to the violations and provided evidence, entitling them to reduced fines under the government’s leniency program.

20th January 2005/by Tyrepress Editors