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Analysts: Continental/Matador Deal “Logical”

Describing the deal as “logical” Deutsche Bank analysts have estimated that the cost of the 51 per cent Matador stake Continental AG recently purchased should be “in the low triple digit million euros.” This is consistent with earlier reports (published in Tyres & Accessories at the third quarter of 2006), which predicted the deal would cost around 150 million euros.

Summing up the benefits of the deal for Continental the analysts said: “Via Matador Continental gets a further plant in Russia, access to a 24 per cent stake in its combined venture for truck tyres as well as a small addition to Contitech (Matador also produces conveyor belts),” adding: “Since the tyre industry is global, the group should logically in the future make acquisitions outside Europe if they want to become a more global player in the industry.”

13th April 2007/by Tyrepress Editors

Conti Buys Controlling Stake in Matador Rubber

Continental AG, Hanover, is set to acquire a 51 per cent stake in the rubber business of Matador Group, Puchov, Slovakia, subject to the approval of antitrust authorities. There has been no official confirmation of the financial details involved, but a possible 150 million euro price-tag has been circulating for some time. Continental plans to integrate Matador into its brand portfolio and invest in expanding annual production from 5.5 to over 7 million passenger car and light truck tyres.

As a result of the deal, the Matador machinery factory in Puchov will be integrated into the machinery factory in Hanover-Stöcken as a second pillar. On top of that, Continental will gain addition research and development capacity.

11th April 2007/by Tyrepress Editors

Russian Tyremakers Meet to Discuss Industry Concerns

Russia’s largest tyre and rubber manufacturers have held their inaugural joint round table meeting to discuss industry concerns. This meeting took place on April 6 as part of the first sitting of a Chamber of Commerce and Industry subcommittee set up to advocate the interests of the country’s industry.

The meeting was attended by representatives of Russia’s major tyre and rubber companies – Sibur-Russian Tyres, Amtel-Vredestein, Nokian Tyres, Michelin, Nizhnekamskshina, Group TADEM, RTI-Kauchuk and by government officers and companies and associations that rely on tyre and rubber production.

10th 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.

4th April 2007/by Tyrepress Editors

Nizhnekamskshina Net Profit Increases.

For the 2006 year Russian tyremaker Nizhnekamskshina gained 175.845 million roubles (£3.4 million) in net profit, contrasting strongly with the 51.2 million roubles (£1 million) loss the previous year. The company explained that this growth was achieved via the writing off of receivables to the value of 90.6 million roubles.

In terms of tyres produced, Nizhnekamskshina is ranked as the third largest tyre maker in Russia, after Sibur-Russian Tyres and Amtel Vredestein. In 2007 the company estimates it will produce 12 million tyres, valued at a total of 12 million tyres, valued at 24 billion roubles (£469.5 million).

2nd April 2007/by Tyrepress Editors

Amtel-Vredestein to Issue Eurobond

(Akron/Tire Review – Russia Newswire) Amtel-Vredestein N.V. said it will issue its first Eurobond.

The unsecured debt, slated to be issued in the second quarter, will mature in three years and carry a fixed rate of interest. Proceeds will reportedly be used to refinance existing debt.

The Russian tyremaker said full details would be forthcoming.

28th March 2007/by Tyrepress Editors

Russian Tyre Committee to Convene in April

The first sitting of a Russian government subcommittee focusing upon the development of the nation’s tyre sector will be held April 6. The deputy director general of Sibur-Russian Tyres, Igor Karavaev will be acting in the capacity of subcommittee chairman.

As previously reported in Tyres & Accessories, the subcommittee’s emphasis will be centred consolidating the efforts of Russian based tyremakers in order for them to participate effectively in the development of legislation and to provide equal competitive opportunities for tyremakers operating in Russia’s automotive market.

21st March 2007/by Tyrepress Editors

Sibur – Russian Introduce New Heavy Vehicle Tyres

Russia’s leading tyre producer Sibur-Russian Tyres has announced the introduction of their latest range of all-steel truck tyres, TyRex AllSteel and a new range of traditional combined truck tyres, TyRex CRG. The TyRex AllSteel Range employs metal cord construction techniques to provide lower cost-per-mile and increased overall mileage. The result is a tyre that is highly suited to high-speed and long distance driving. Furthermore, Sibur report that the carcass can accommodate multiple retreading.

Sibur-Russian plan to modernise and expand the production facility where the AllSteel is manufactured, and following the completion of this upgrade production capacity for the TyRex AllSteel line-up will reach 370,000 units per year. The AllSteel range is available in the following types and sizes:

19th March 2007/by Tyrepress Editors

Hayes Lemmerz to Formalise Russian JV

Hayes Lemmerz International Inc plans to transform its technical alliance for the licenced manufacture of passenger car steel wheels in Russia into a formal joint venture over the next couple of years.

7th March 2007/by Tyrepress Editors

Amtel-Vredestein to supply tyres to Renault in Russia

Amtel-Vredestein N.V., has confirmed that its Russian subsidiary, OJSC Amtel-Vredestein has been nominated to supply tyres for Renault Logan cars produced in Russia. According to the company, the signed Protocol provided Amtel-Vredestein an opportunity to participate in tenders to develop and supply tyres to various Renault projects worldwide. “This agreement is further validation of our prominent position in the Russian market and the outstanding quality of our tyres. We are honoured to be selected by Renault,” said Amtel-Vredestein CEO, Alexei Gurin.

2nd March 2007/by Tyrepress Editors

New Appointments at Amtel-Vredestein

Amtel-Vredestein has announced the appointment of new directors in the company’s Russian division. J. Anisimova has taken on the role of personnel department director and V. Ignatyev has been selected as the company’s new director for sales and marketing in Russia.

28th February 2007/by Tyrepress Editors

Get a Grip with Nordicca

Slovakia’s number one tyremaker has held their “Matador Winter Grip” event for a second year, this time at Tále in the Low Tatra Mountains. Testing on what has been called difficult and snowy terrain in weather not conducive to the event, participants were able to experience driving the company’s tyres on a range of vehicles, including models from Mercedes, Skoda, Seat, Jeep, KIA and Honda.

27th February 2007/by Tyrepress Editors

Brityrex International on Target for a Record Show

With Brityrex International 2007 only a matter of weeks away, the show continues to attract exhibitors from a wide range of tyre and aftermarket sectors. Says Paul Farrant, managing director of the organisers ECI International: “When we began marketing the show, we deliberately targeted other aftermarket sectors as well as the tyre industry with a dedicated marketing and PR campaign. The result is a broader than ever exhibitor base, reflecting the wider range of services on offer today from garages and fast-fits as they concentrate on customer retention.”

23rd February 2007/by Tyrepress Editors

Sibur-Russian Establishes Tyremakers’ Union

Sibur-Russian Tyres has instigated the formation of a subcommittee, subordinate to the Russian Chamber of Commerce and Industry’s committee on entrepreneurship in the automotive industry, to focus upon the development of Russia’s tyre and rubber industry. The aim of this subcommittee is to facilitate the consolidation of Russian tyremakers in order to protect their interests at the governmental level.

20th February 2007/by Tyrepress Editors

Nizhnekamskshina to Buy Technology from Continental

Tatneft CEO, Shafagat Tahautdinov, has said that Russia’s largest tyre maker Nizhnekamskshina would buy technology to manufacture whole metal cord truck and bus tyres from Germany’s Continental and build a 600,000 tyres a year plant, to be expanded to 1,000,000 tyres. CentreInvest analysts reported that the project cost is estimated at $180–200 million over two […]

19th February 2007/by Tyrepress Editors