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Nizhnekamskshina Increases Net Profit 57 per cent

Nizhnekamskshina’s first quarter net profit (RAS) rose 57 per cent to 13.695 million rubles (about £270,000) from 8.71 million rubles the previous, the company told Russian news sources. Revenues increased 12.4 per cent to 1.498 billion rubles from 1.333 billion rubles. Meanwhile gross profits were up 10.3 per cent to 114.142 million rubles from 103.44 million. 2006 net profits rose to 175.845 million against 51.2 million rubles of losses the year before. Revenues grew three-fold to 14.919 billion rubles from 5.425 billion.

Nizhnekamskshina is ranked as the third by the tyre output in Russia after Sibur Russian Tyres and Amtel Vredestein. The company is expected to produce 12 million tyres in 2007.

22nd May 2007/by Tyrepress Editors

Amtel-Vredestein Posts $110 million EBITDA

Amtel-Vredestein N.V. reports in un-audited results that it has exceeded the revenue projections made by the company in November 2006, by delivering sales of $823 million ($800 million estimated) and EBITDA of $110 million ($100 million estimated).

The Company cautions that certain non-cash adjustments to its 2006 results are still possible as it completes a protracted audit as a result of significant and complex transactions last year – including the acquisition of the Moscow Tyre Plant, the sale of its Amtel-Kuzbass chemical fibre plant in Kemerovo, Russia, and acquisitions of retail tyre centres throughout Russia.

Amtel-Vredestein has a positive outlook for 2007 and expects to achieve sales growth – primarily in its key passenger car tyre business. Sales are expected to fall between $1 – 1.1 billion in 2007 based on current sales trends and scheduled production output. Management also anticipates improvements in Gross Profit Margin consistent with previous years. EBITDA may exceed $120 million and rise to as high as $130 million. The Company expects to be profitable in 2007.

21st May 2007/by Tyrepress Editors

Nizhnekamskshina To Open New Rubber Mixing Facility

Nizhnekamskshina, Russia’s third largest tyre manufacturer, will in June complete the final stage of its production line for Kama Euro tyres, a range that draws on technical expertise from Italy’s Pirelli. The final facility in the project, a 25 million euro rubber mixing facility with a capacity of 21,000 tonnes of silica rubber compound, will open in June 2007.

16th May 2007/by Tyrepress Editors

ISSRP Appoints New Executive Committee in Delhi

(India/Rubber Asia) The 48th International Institute of Synthetic Rubber Producers Inc (IISRP) AGM held in New Delhi, India, recently discussed subjects including the new EU quality regime and the marketing scenarios in the galloping economies of China and India. The organisation also appointed new executive committee members that reflect the growing importance of the Russian market.

The newly elected president Vasily Nomokonov will also serve as the European section president of IISRP. Speaking to Rubber Asia on the sidelines of the AGM, Mr Nomokonov said he would like to see that the institute has a broader platform during his tenure. He would also like to see that Russia continues to play a vital role in the growth of global SR industry. The AGM ended with a mesmerising farewell luncheon hosted in a characteristic Russian red ambience and a hearty invitation from the new president to meet in Moscow for the 49th edition of the AGM.

9th May 2007/by Tyrepress Editors

Hankook Passes the 100 Million Mark in China

In late March Hankook Tire celebrated a significant milestone – the 100 millionth tyre manufactured by the company in China came off the production line at Hankook’s Jiaxing facility in Zhejiang Province. This achievement is noteworthy not only in terms of Hankook’s presence in China, but it also serves as a reminder of the speed at which the country’s tyre industry has developed – China’s National Bureau of Statistics records the nation’s total tyre production in 2006 to be 433 million units, a 15 per cent year on year increase.

Speaking on this topic in early 2007, Cho Choong Hwan, vice chairman and former CEO of Hankook Tire, remarked that production from within the BRIC nations – Brazil, Russia, India and China – was growing at a faster rate than domestic demand, meaning that exports from these market were growing considerably, particularly from China.

9th May 2007/by Tyrepress Editors

Amtel Brand Named Russia Superbrand

(Akron/Tire Review) For the second straight year, Amtel-Vredestein NV’s Amtel tire brand has been tapped as “Superbrand 2007” in Russia.

The Amtel brand was selected based on a series of polls and surveys of consumers and business analysts concerning product quality, brand awareness and brand recognition.

Other Superbrand 2007 winners included BMW, Samsung, VTB 24 and MasterCard.

8th May 2007/by Tyrepress Editors

Goodyear Dunlop Reshuffles Management For Strategic Customer Focus

Goodyear Dunlop Tyres Ltd has announced a number of new appointments designed to strengthen the company’s customer focused management team. Significantly, all but one of these appointments is as a result of internal promotions. The company has also formed a new Customer Strategy team. This team will be led by Mark Davison, who joins the company from Nestle on 8 May. Davison’s role as Customer Strategy Director will be to lead the development and delivery of long-term customer strategies across all business units. (Consumer, Truck, Motorcycle and Off-the-Road).

4th May 2007/by Tyrepress Editors

New Captain Steers Steady Ship

As Cooper Tire’s motorsports season ramps up, Tyres & Accessories met with Cooper Tire & Rubber Europe managing director, Julian Baldwin. Since taking over the role as part of a normal pre-prepared succession plan following Ron Shield’s retirement last August, Julian Baldwin has settled into the role and is geared up to the European and global challenges that now face him. As part of this month’s Manufacturing Focus, Tyres & Accessories interviewed Baldwin but with a particular eye on developments in the manufacturing side of the business.

The sleepy Wiltshire town of Melksham might not be the first place you think of when you consider tyre manufacturing operations but Cooper’s UK and European production base plays a very important part in the wider organisation. Of the six distribution centres and five sales offices Cooper runs in Europe Melksham represents the region’s only manufacturing centre and basically half of what Cooper refers to as International Tire Operations. Cooper Tire & Rubber Europe run subsidiaries in France, Germany, Italy, Spain and Switzerland for marketing its products in continental Europe. (The other “half of the segment is the two administrative offices, two production facilities, and a sales office in China).

4th May 2007/by Tyrepress Editors

Sibur-Russian Tyres Willing to Enter Minority Partnership With Leading Manufacturer

Sibur-Russian Tyres director Igor Karavaev has spoken of the company’s willingness to enter into a joint venture partnership with a leading tyre manufacturer for the production of passenger car tyres in Russia. No particular names have been mentioned in relation to the possible deal, but it is the first time Sibur-Russian Tyres has suggested that it would be willing to work in partnership with another leading manufacturer as a minority shareholder. Karavaev, Sibur-Russian Tyres’s Russian strategy and business development director, didn’t mention any particular parties but suggested that Japanese, Korean or European manufacturers may be interested in such an opportunity. Speaking at Brityrex International in Manchester this week, Karavaev told Tyres & Accessories that Sibur-Russian Tyres would also be interested in developing similar partnerships for the production of aircraft and giant OTR tyres. For the full story see the June issue of Tyres & Accessories.

2nd May 2007/by Tyrepress Editors

Analysts: Nokian 1Q EBIT 80 per cent Above Expectations

Financial analysts at Deustche Bank have commented that Nokian’s first quarter performance as clearly exceeded expectations. Nokian’s 200 million euros of net sales and 39 million euros of pre-tax profits were described as “16 per cent and 80 per cent better than expected, largely driven by strong demand in Russia for both summer and winter tyres. Furthermore the company’s mix of winter tyres was said to be “clearly better in first quarter than it was last year.”

26th April 2007/by Tyrepress Editors

Tyrepress Asia – News With an Asian Emphasis

Tyrepress Asia, sister publication to Tyres & Accessories and NEUE REIFENZEITUNG, is very pleased to announce the launch of its new website Tyrepress Asia and associated e-Newsletter. Based upon the successful format established by Tyres & Accessories and Neue Reifenzeitung’s UK and European e-Newsletters, the Tyrepress Asia e-Newsletter is specifically tailored to provide news and articles from our online publication that are of particular relevance to the Asia and Pacific regions. Our regular newsletter is the only English language tyre industry news source to exclusively cover news and developments from Russia and China down to Australia and New Zealand and from India across the Pacific Rim, and its online format ensures our reports will reach their intended audience while still fresh and newsworthy.

Each year a greater proportion of the world tyre parc is produced in Asia, and companies within the region are increasingly looking to become established global brands. This is a time of rapid growth within the region’s tyre industry and an exciting time to be involved in the business. Therefore it is essential to remain informed of decisions made by both today and tomorrow’s leading players in Asia.

For a limited time Tyrepress Asia is offering free subscriptions to their e-Newsletter and newly launched website Tyrepress Asia– a website where tyre professionals from around the globe can obtain unrestricted access to the latest information coming from Asia’s tyre industry and markets. Produced by experienced industry journalists, the website contains news, feature articles and downloads designed to keep the reader informed. If you conduct business in the Asia and Pacific regions, or simply have an interest in keeping informed about developments in these and coming markets, then Tyrepress Asia invites you to visit our website or click here to obtain your free subscription.

26th April 2007/by Tyrepress Editors

Poor Perception of Russian Quality a Stumbling Block – Gurin

During an address to the 10th Annual Russian Economic Forum in London, Amtel-Vredestein CEO Alexei Gurin pointed to Russia’s poor quality image as a major stumbling block to diversification, and called for President Putin to identify and support industries outside the energy sector in which Russia could become a quality producer. Amongst those industries suggested was the automotive sector.

Gurin believes that Russia needs to stop its sole orientation towards the oil or raw materials export sector and develop other industries with high export potential and domestic competitiveness which can act as ‘ambassadors’ for Russian-made products – and improve government taxation, customs and industrial policies for those who invest in producing quality, premium, competitive and ‘exportable’ Russian goods.

25th April 2007/by Tyrepress Editors

Putin “Banned” Execs from UK Forum – Amtel-Vredestein CEO

According to Bloomberg news, a number of Russian business leaders have withdrawn from the annual Russian Economic Forum in London at the last minute, following what Alexei Gurin, CEO of Amtel-Vredestein NV called an “unofficial and maybe official ban” by President Vladimir Putin.

There’s an “unofficial, and maybe official ban for politicians to come to this forum in London,” said Mr. Gurin. “Russians tend to speak much more openly and frankly being outside of Russia. I don’t know why it happens, but it’s a matter of fact.”

23rd April 2007/by Tyrepress Editors

Q1 Results “Better Than Expected” – Nokian

Nokian Tyres had a “better than expected” first quarter of 2007. During the quarter Nokian Tyres recorded sales of approximately 200 million euros a 34 per cent gain on the 149.4 million euro reported a year earlier. Operating profit trebled, with profits of 39 million euros achieved during the quarter.

Nokian cite the main reasons for these better than expected results to be continued strong sales growth in Russia plus stronger than expected summer tyre sales. Winter tyre pre-sales exceeded previous year and the newly launched Nokian Hakka summer tyre range boosted summer tyre sales. Nokian Tyres’ targets for 2007 will remain the same. The company’s projected full year net sales are 900 – 1,000 million euros.

23rd April 2007/by Tyrepress Editors

Revenues and Profits Up – SRT

Sibur-Russian Tyres report that during 2006 the company increased their consolidated revenues by 17 per cent to 21.1 billion roubles (£409 million), up from 18 billion roubles (£349 million) a year earlier.

The tyremaker’s pre-tax net profit (EBIT) reached 486 million roubles (£9.4 million), starkly contrasting with its 498 million rouble (£9.7 million) loss in 2005. This positive trend has been attributed to the company’s large-scale restructuring and modernisation, as well as product portfolio optimisation and price increases.

20th April 2007/by Tyrepress Editors