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New Bandag dealership opens in Ussuriysk

The Vladivostok-based Vostokshintorg group of companies recently opened the very first Bandag Dealership in this distant part of Russia, a virgin market for retreaded tyres.

Although Russia is often thought of as a European country, it also has Asian roots. The Russian Far East, more than 9,000 km to the east of Moscow, extends from Siberia to the Pacific. The city of Vladivostok, on the Pacific coast, is less than 100 km from the Chinese border, and only the Sea of Japan separates it from the main Japanese island of Honshu. Oil, gas, fishing, mining, forestry and four major ports combine with foreign economic ties to make the region one of the most dynamic in Russia.

14th June 2005/by Tyrepress Editors

First Hakkapeliitta Tyres Produced at Nokian’s Plant In Russia

The first Nokian Hakkapeliitta 4 winter tyres have been produced on schedule at Nokian Tyres’ plant in Vsevolozhsk, Russia. Actions to increase production have begun with the target to produce 200,000-500,000 tyres during 2005. The installation of a second production line will begin in the end of the current year. The official opening of the factory will be in the early autumn.

13th June 2005/by Tyrepress Editors

Yaroslavl Reports Operating Results

JSC Yaroslavsky Tire Works in Yaroslavl’, one of Russia’s largest tyre manufacturers and a part of Sibur holding, has released full-year 2004 and first quarter 2005 financials. The results show that, once again, although the company’s output dropped its profitability has actually increased. 2004 sales fell 30 per cent year-on-year to $95 million, while operating profit dropped 17 per cent to $2.5 million.

7th June 2005/by Tyrepress Editors

Amtel to Hold Private Placement.

Amtel Tire Holding is to hold a private placement which could raise $80-100 million, general director Alexey Gurin told journalists. The analytical information agency suggested that the funds attracted will be used for the partial repayment of debts and the reduction of debt loading.

7th June 2005/by Tyrepress Editors

Russian State to Control Sibur Plants

Russian tyre manufacturer Sibur is to become state-owned company. After a long period of confusion about a possible merger between the gas monopolist Gazprom (that owns almost 100 per cent of Sibur’s shares) with the state-owned oil company Rosneft, the Russian government now has decided to take over the majority of Gazprom’s shares itself, according to Russian media reports. Currently the Russian government owns about 38 per cent of Gazprom but will increase this share up to more than 50 per cent by the end of June, when Gazprom’s annual shareholder meeting takes place. Sibur operates four tyre factories in Russia where it produced more than 15 million tyres in 2004.

19th May 2005/by Tyrepress Editors

Nokian Reports Strong First Quarter

Finnish tyre manufacturer Nokian Tyres Oyj reported profits of 9.4 million euros, compared with 7.1 million euros last year. At the same time net sales rose 129.4 million euros from 112.9 million. Nokian Tyres said its main target for 2005 remains to outperform the results of the previous year in terms of net sales and profit.

19th May 2005/by Tyrepress Editors

Dekk Partner Reports Rapid Growth

Nordic buying group Dekk Partner has reported that its network is growing at a rapid rate. Dekk Partner now has 110 workshops in Norway, close to 90 in Sweden, 60 in Finland and one in Estonia. On top of this group managing director, Leif Kristiansen, predicts that total turnover could peak at 215 million euros this year.

6th May 2005/by Tyrepress Editors

Nokian’s Leningrad Factory Due to Open in July/August

Nokian Tyres is to launch its Vsevolozhsk, Leningrad, tyre plant in July or August 2005. Speaking at a Leningrad an Interfax press conference, regional governor Valery Serdyukov confirmed the company would begin production this summer.

5th May 2005/by Tyrepress Editors

Nizhnekamskshina Sales and Production Up, Profits Down

Nizhnekamskshina, one of Russia’s largest tyre manufacturers, has published first quarter 2005 figures. Although, sales were up by 1.3 per cent to $91 million year-on-year, the company reported a net loss of $3.1 million against the $3.8 million net profit it recorded in the same period last year. Car tyre output rose by 0.2 per cent to 2,547,400 units, but fell by 2.4 per cent in value terms to $86.6 million.

3rd May 2005/by Tyrepress Editors

‘The Best News is the Worst News’

“Unfortunately, the best news is the worst news for many Russian news agencies,” according to Sibur press attaché, Anna Stepanova. The Russian tyre manufacturer’s spokesperson made these comments in response to reports stating that the company had reduced first quarter tyre production by 25.5 per cent. While the reports were not inaccurate, Sibur’s management does not agree with the conclusions drawn by Russia’s Analytical News Agency (ANA) and says that numbers went down due to production improvements and capacity transfers.

27th April 2005/by Tyrepress Editors

Amtel Completes Vredestein Acquisition

Amtel Holdings Holland NV has completed its acquisition of Vredestein Banden BV from Vredestein Investment Consortium (VICO) for 195.6 million euros in cash. Amtel says it plans to use the opportunity to expand its global operations in Europe, Asia, the former Soviet Union and North America. Combined production capacity will now amount to around 22 million tyres a year.

26th April 2005/by Tyrepress Editors

Yokohama Launches New European Subsidiary

At the beginning of April, Yokohama Rubber Co, made its Europe Office in Dusseldorf, Germany, a subsidiary called Yokohama Europe GmbH. Yokohama Europe will oversee Yokohama’s European marketing and sales strategies. According to the company, the move is part of efforts to strengthen Yokohama’s marketing strategy by more closely managing local operations. The new company will help reinforce sales by concluding comprehensive contracts with leading store chains around Europe and by accelerating original equipment marketing to European automakers.

Yokohama now has sales companies in 10 countries in Europe – in the UK, Italy, Switzerland, Sweden, Germany, Austria, Denmark, Belgium, Spain, and Russia.

25th April 2005/by Tyrepress Editors

Yokohama Establishes Sales Company in Russia

Yokohama Rubber Co has established a tyre sales subsidiary in Russia on 1 April to reinforce local marketing. The Moscow based company is called Yokohama Russia L.L.C and operations will commence in late April. The new company is a joint venture between Yokohama and Itochu Corporation (with 85.1 and 14.9 per cent shares respectively).

22nd April 2005/by Tyrepress Editors

US Panel Decides to Keep Steel Tariffs

(Akron/Tire Review) The US International Trade Commission voted 4-2 yesterday to retain tariffs on steel imports, saying that removing the duties would further hurt the struggling US steel industry. The tariffs specifically cover steel from Japan, Brazil and Russia. Duties on flat-rolled steel range from 20 per cent to 50 per cent, and were imposed about five years ago.

18th April 2005/by Tyrepress Editors

Michelin to Use Technology to Break Away

By Alex Law
MacLeans magazine

“Nunc est bibendum.”

Horace originally meant that to be a call to merriment, or, in a more literal translation, “Now is the time to drink.”

When Michelin first used the phrase decades ago on an advertising poster, it was the tagline to a sketch of a man made out of tyres (now known as Bibendum) who was looking down a stretch of pavement filled with the kind of debris normally found on the world’s roads at the time. The message then meant, “I can handle all that.”

11th April 2005/by Tyrepress Editors