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Investment Bottleneck in Russian Tyre Industry

Investors have ploughed hundreds of millions of euros into the Russian tyre industry in recent years, of which the largest part has been invested in machinery and equipment. Market leader Harburg-Freudenberger from Hamburg in Germany has been operating its own distribution subsidiary in Moscow since earlier this year. This is responsible for the co-ordination of all activities on the growing Russian tyre market. In particular it is the high performance PC tyre sector where machinery and equipment suppliers see a lack of sophistication on the part of the domestic manufacturers.

“Harburg-Freudenberger was able to preserve its contacts” during the breakdown of the Soviet Union, explains sales director Jens Ritter in an interview with Tyres & Accessories. The traditional German company, which was listed until last year as ThyssenKrupp Elastomertechnik, had good contact with Russian tyre manufacturers and the central Muscovite research institute for the tyre industry decades ago.

21st April 2006/by Tyrepress Editors

Goodyear Gaining Market Share in Russia

In the past three years Goodyear has improved its position amongst the growing number of importers supplying tyres to the Russian market, not to mention the replacement market itself. In 2002 the American manufacturer exported some 960,000 Goodyear, Dunlop, Fulda and Sava branded tyres to Russia. According to the Discovery Research Group based in Moscow, this has already grown to 1.39 million units. At the same time Goodyear’s share of the total number of tyres imported into Russia has increased from 12 per cent in 2002 to 17 per cent now, based on a total import market of 8.2 million units each year.

19th April 2006/by Tyrepress Editors

Amtel-Vredestein Begins Work on ‘State-of-the-Art’ Russian Plant

(Akron/Tire Review) Amtel-Vredestein NV says it will invest another $124 million to expand its Voronezh, Russia, tyre plant. The Voronezh II project, previously announced, will see a state-of-the-art tyre plant built on the grounds of Amtel-Vredestein’s existing Voronezh facility. The new plant will produce some 2.5 million Amtel and Vredestein branded tires annually, and could be expanded to 4.1 million tyres.

According to this agreement Amtel-Vredestein will invest $124 million into its new Voronezh-II production facilities. Within this project, state-of-the-art facilities will be built which will produce 2.5 million tyres annually, with a possibility for further expansion to 4.1 million tires per year. Production is set to start in September 2008.

13th April 2006/by Tyrepress Editors

New CEO for Bridgestone Europe

From 1st April 2006, Takashi Urano becomes Chairman, CEO and President of Bridgestone Europe (BSEU). He succeeds Minekazu Fujimura, who is retiring. Mr. Urano joined Bridgestone in 1974, soon after graduating in economics from Keio University, Japan. By 1999, he had risen to become General Manager of the Asia and Oceania Division – and, a few months later, took over as General Manager of the China Department. At the beginning of 2004, he was appointed Director of the Middle East, Africa and Russia Division.

5th April 2006/by Tyrepress Editors

Vredestein Hi-Trac Test Successes

Vredestein Hi-Trac tyres bested those of its international competitors – including those manufactured by Goodyear, Continental, Pirelli and Bridgestone in independent tests which compared braking distances, overall speed & handling and resistance to aquaplaning on wet roads. The tyre took first place on average in 10 tests.

5th April 2006/by Tyrepress Editors

Amtel-Vredestein – Top Tyre Retailer in Russia

Amtel-Vredestein N.V. has today announced that its new OJSC AV-TO tyre retail subsidiary has acquired 63 additional multi-brand tyre sales and service centres. These are in major cities across Russia – and include the Horoshie Kolesa (“Good Wheels”) and Nordshina chains in St. Petersburg.

3rd April 2006/by Tyrepress Editors

Bridgestone Sponsors Safety Design Award

Bridgestone Europe has announced that it will sponsor a new category – Best Safety Innovation – in the Interior Motives Design Awards in 2006. Organised by the automobile design magazine Interior Motives, the annual awards promote the importance of innovation in vehicle design by challenging design students from around the world to make their mark on future car design. Winners are rewarded with prizes and the chance to receive recognition from top figures in the international automotive design community.

30th March 2006/by Tyrepress Editors

Nizhnekamskshina Slows Production in January and February

During January and February of 2006 JSC “Nizhnekamskshina” says it produced 100,000 less tyres than planned. According to the company, the basic reason for the disruption was the high rubber price. The beginning of March has not proved to be much better for Russia’s largest domestic tyre producer. In Nizhnekamskshina’s words the situation “remains complex” due to short supplies of natural rubber.

8th March 2006/by Tyrepress Editors

Nokian Sales and Profits Increase

At 686.5 million euros, Nokian Tyres’ net sales in 2005 were 13.8 per cent higher than 2004’s figure of 603.3 million euros. The operating profit was virtually static at 115.8 million euros (115.6 m) and the net result was up over 11 per cent to 82.2 million euros (73.8 m). Nokian said that growth in the European passenger car tyre market was slower than expected, with sales of winter tyres in the Nordic countries and Eastern Europe beginning exceptionally late, thus shortening the sales season. The strongest growth was experienced in Russia, Eastern Europe and North America, with sales of new cars growing significantly in Russia.

20th February 2006/by Tyrepress Editors

YHI Looks to Eastern Bloc and South Africa for Expansion

Automobile tyre-maker YHI International started its aggressive overseas expansion only in the 1990s and yet it already has presence in nearly every continent. Not content with its achievements, it is now focusing on faraway reaches like South Africa.

Up until the 80s, YHI could claim only Singapore and Malaysia as the markets for its tyre distribution business. But the company realised that it had to expand beyond these two markets for further growth. That’s why, in the early 1990s, YHI started to make inroads into China, Taiwan, Hong Kong and Australasia.

7th February 2006/by Tyrepress Editors

Amtel-Vredestein Aims to Raise 100 million euros

Amtel-Vredestein N.V. has announced plans to issue credit linked notes (CLN) for 100 million Euros during the first quarter of 2006. The CLN issue will be used to finance the company’s retail expansion and to refinance debt. The term of the security will be four years with a two-year put option. The coupon will be paid twice yearly. According to the company, the issue lead manager is Alfa-Bank, Russia.

7th February 2006/by Tyrepress Editors

Autosport/Aftermarket Show Kick-Starts 2006

The 2006 Autosport/Aftermarket Show confirmed its position as the largest dedicated motorsport exhibition in Europe with 94,000 visitors in total. According to the organisers, 27,000 of these were trade visitors, an 8 per cent increase on 2004.

27th January 2006/by Tyrepress Editors

Nizhnekamskshina Plans Radial SUV Tyre Production

Russia’s largest tyre maker, Nizhnekamskshina, has announced that it will increase capital expenditure by 14.9 per cent to 880 million ($17.6 million) in 2006. The company will invest in plant upgrades and in new capacity, including the production of radial tyres for SUVs and light trucks.

26th January 2006/by Tyrepress Editors

Troika Rates Amtel Shares as Hold

Troika Dialog, the oldest investment bank in Russia, has rated Amtel-Vredestein stock as “hold,” with a fair value of $11.06. According to the bank, the company “appears to have the means to deliver significant income growth in 2006.” However, Troika analysts also state their concern that “corporate governance practices, a tendency to grow debt and sudden swings in capital expenditure are holding back its valuation.”

23rd January 2006/by Tyrepress Editors

Nokian Launches New Studded Winter Tyres

Nokian Tyres’ added two new studded tyres to its Hakkapeliitta product range. The Hakkapeliitta 5, a studded winter tyre for passenger cars, and Nokian Hakkapeliitta Sport Utility 5, for SUVs, are both designed to promote safe winter driving.

The tyres feature what Nokian describes as the ”bear claw”, which is intended to enhance performance and together with the further developed square stud, improve grip properties. The bear claw is a claw-like projection on the front edge of the tread blocks, which holds the stud in position during braking. The stud has been further developed by enhancing its square design. Several improvements to tyre structure and tread pattern are also said to improve the reliability of winter driving.

23rd January 2006/by Tyrepress Editors