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Nokian Launches Phase Two of its Russian Plant

The second stage of Nokian Tyres‘ Russian factory, which started operation in June 2005, was launched today (22 November) in Vsevolozhsk. The second stage launch marks the conclusion of construction work on the warehouse and the mixing departments, which started in September 2005.

The 19,000 square metre warehouse can house approximately 600,000 tyres. The start-up and test-run of the first mixing line at the new department was done in September and the second line is being installed. The new mixing department enables the company to produce rubber compounds for tyre production locally in Russia and end deliveries from the Nokia factory in Finland.

22nd November 2006/by Tyrepress Editors

Amtel-Vredestein in Talks with Continental

Only weeks after it emerged that Continental was discussing a possible purchase of Slovakian tyremaker, Matador Rubber, reports have surfaced that Continental’s eastward movement could now include purchasing the majority stake of Amtel-Vredestein. According to Russia’s Kommersant newspaper, Amtel-Vredestein (AV) managing director Alexei Gurin recently initiated discussions with Continental AG and the company could sell a majority stake to the German company as soon as spring 2007. For its part AV confirmed it has held discussions with Continental “in relation to possible areas of cooperation in Russia.” A Continental spokesman at the company’s Hanover headquarters also confirmed that talks between the two companies had taken place.

20th November 2006/by Tyrepress Editors

Amtel-Vredestein 3Q Sales up 14%, 9-month Net Loss Doubles

Despite reporting net sales of $198 million in the third quarter of 2006 and $548 million (up 19 per cent) in the first nine months, Amtel-Vredestein’s net loss doubled to $22 million between January and September. For the full year, the company projects net sales in excess of $800 million and EBITDA of approximately $100 million in 2006, according to the company. “A net loss of $10-$12 million is expected for the year — primarily as a result of increased investment costs and interest expenses as the company continues its Russian production, distribution and retail expansion programme,” official documents stated.

15th November 2006/by Tyrepress Editors

Nokian Tyres’ Net Sales Up by 19.8 per cent

Publishing its third quarter results Nokian Tyres announced it achieved pre-tax profits 35.8 million more than doubling the previous year’s total of 16.9 million euros. Nokian’s results were well-received by analysts who applauded the company’s consensus beating results. According to Deutsche Bank, Nokian’s EBIT was 6 per cent higher than analysts’ collective projections and 19 per cent above Deutsche’s estimate.

3rd November 2006/by Tyrepress Editors

Aufeer Design Partners with Matador Automotive

Aufeer Design has signed a strategic alliance with Matador Automotive corporation. The agreement was strengthened by Matador Automotive’s acquisition of one third of the Aufeers’s privately held shares. Matador, one of the Slovakia’s biggest corporations, says that is has the primary objective if supporting Aufeer Design activities‘ growth and expansion in Czech, Slovak and international automotive markets, including those involving more than 30 joint-venture companies which it currently owns in the automotive segment.

3rd November 2006/by Tyrepress Editors

Nokian Shares Dip After Morgan Stanley Downgrade

On the Helsinki Stock Exchange, Nokian Tyres’ shares fell slightly to 15.35 euros after the company was downgraded by analysts Morgan Stanley from “overweight” to “equal weight”. Nokian’s valuation has outperformed others in the market since July, says Morgan Stanley, but is now starting to appear stretched. Another factor is the possibility of increased competition in Russia, following reports that Bridgestone has acquired land in St. Petersburg.

20th October 2006/by Tyrepress Editors

Sibur to Build All-Steel Radial Plant in Yaroslavl

Sibur-Russian Tires, Russia’s largest tyre holding company, has announced that it will build a steel radial tyre plant capable of producing 1 million tyres a year by 2010. The project is set to be approved in the second half of 2007. According to analysts at Russia’s Centre Invest, construction will begin in 2008. The new facility is likely to be registered as a wholly owned Sibur-Russian Tires subsidiary. Sibur Holding president Alexander Dyukov had earlier told Vedomosti that similar arrangements would be used to upgrade other subsidiaries.

11th October 2006/by Tyrepress Editors

Sibur Launches First All-Steel TBR

Sibur Russian Tyres Holding (SRT) has launched the first all-steel truck radial tyre made in Russia. Tubeless truck radials (branded TyRex) were recently produced at one of the company’s tyre plants and are reportedly fitted to MAN, Volvo, Scania, MAZ, KamAZ vehicles. Sibur is planning to reach 370,000 units per year in all-steel truck tyre production. About 30 per cent will be exported. There are already said to be potential clients among leading distributors in Eastern and Western Europe. Increasing demand is expected from the Middle East and Northern Africa.

26th September 2006/by Tyrepress Editors

Nokian “On the Road Again”

Following positive second quarter reports Nokian Tyres is back “on the road again,” according to Deutsche Bank analysts. “Going forward we are seeing an improved mix driven by new products (Hakkapeliitta 5), less Nordic competition due to fast growth in the German winter tyre market, continued strong growth in Russia and raw material prices contracting clearly from recent peak levels,” said the analysts. The Deutsche Bank market watchers said they are pojecting more than 20 per cent earnings per share growth in 2006 and 2007.

25th September 2006/by Tyrepress Editors

Sibur Prepares for Russian Winter

Sibur-Russian Tyres has added a number of new sizes to its winter tyre range up to 16 inches in diameter. “Nowadays in Russia there is an increasing demand for 14 and 15-inch sizes. These tyres are for cars in the price segment from $12,000 to $20,000. These are imported brands assembled in Russia and some imported models like Mitsubishi Lancer or Nissan Almera. If the vehicle parc changes, the structure of demand for tyres will change too. “We are happy to offer our customers our new Cordiant Polar tyre in 175/65R14, 175/70R14, 185/65R14 sizes and also the 15 inch and the two 16 inch sizes,” informed Anna Komarova, the head of passenger car tyres division of Sibur-Russian Tyres.

22nd September 2006/by Tyrepress Editors

Nizhnekamskshina to Increase Supplies to AvtoVAZ

Radik Ilyasov, CEO of Nizhnekamskshina, Russia’s largest tyre manufacturer, has announced plans to increase the supply of Kama Euro radial tyres to AvtoVAZ. According to a Centre Invest analyst report, Nizhnekamskshina has signed a contract with the automaker to supply all tyres for Chevrolet-Niva production, up from the 47 per cent agreed upon previously. “We believe this is good news for Nizhnekamskshina, which should now be able to gain a wider market share. Research has shown that Russian car owners tend to replace tyres with the factory-installed brand,” the report commented.

20th September 2006/by Tyrepress Editors

Sibur-Russian Tyres Opens Credit Line

Sibur-Russian Tyres Company, the leading manufacturer of truck and agricultural tyres in Russia, has obtained a credit line worth $300 million from Evrofinance Mosnarbank. The loan’s fixed interest rate is 8.5 per cent per annum.

13th September 2006/by Tyrepress Editors

Bridgestone Considering Russia Factory

Japan Bridgestone Corp is considering building a new tyre factory in Russia, where car production is up almost 10 per cent in the first half of 2006. Russian newspaper Vedomosti reported that Bridgestone has reserved a 10 hectare plot of land near the new Nissan factory in St. Petersburg, which could cost the Japanese company around $30 million.

11th September 2006/by Tyrepress Editors

Amtel Tyre Production Begins at Moscow Plant

Amtel-Vredestein N.V. has announced that it has begun production of its Amtel brand of tyres at the Moscow Tyre Plant-M; only weeks after the company announced its intention to acquire the factory. The company has also met its promise to make the plant more environmentally friendly by shutting down rubber mixing at the facility.

7th September 2006/by Tyrepress Editors

New Nordic Summer Tyres from Nokian

Driving in the north calls for tyres designed for Nordic conditions. To meet these demands Nokian Tyres has developed brand-new summer tyres especially suitable for the rough, wet and grooved roads, and for the challenging and changeable conditions in Russia and the Nordic countries. The Nokian Hakka, a new summer tyre family featuring four different tyres and a wide range of sizes, joins the Hakkapeliitta winter tyre range, celebrating its 70th anniversary this year. The new products will be available in Nordic and Russian tyre outlets in the spring of 2007.

5th September 2006/by Tyrepress Editors