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Maxxis a ‘Fab 50’ company

The Forbes ‘Asia’s Fab 50’ ranks the “best of Asia Pacific’s biggest listed companies,” and this year’s list has been described by the business magazine as a “roll call of outfits that have managed to thrive amid decelerating growth in Asia and all but nonexistent growth in their US and European markets.” For 2012, Forbes has added Cheng Shin Rubber Ind., manufacturer of the Maxxis tyre brand, to the list. At present Maxxis is the only tyre brand represented in the Fab 50 table.

4th September 2012/by Tyrepress Editors

Yokohama to focus on mini-spares in Vietnam after JV wind-up

At present Yokohama Rubber is in the process of winding up the joint venture it operated in Vietnam for the last 15 years and intends to integrate this into its local subsidiary. The company announced on 4 September that the three joint investors in Yokohama Tire Vietnam Company (YTVC) – Yokohama Rubber, Southern Rubber Industry Company (Casumina), and Mitsubishi Corporation – began preparing to end the joint venture company in August as part of what Yokohama Rubber calls the “enhancement” of its tyre manufacturing and marketing operation in Vietnam.

4th September 2012/by Tyrepress Editors

Professional drivers the focus of dedicated TyreSafe mini-site

Businesses and company car drivers wishing to become better informed about fleet tyre safety can now do so at a new dedicated section on TyreSafe’s www.tyresafe.org website.

31st August 2012/by Tyrepress Editors

Conti claims best in class performance from PureContact

Continental boasts that its latest North American replacement market tyre, the PureContact, brings together “best-in-class wet braking, fuel efficiency and ride comfort.” The all-season tyre is available to North American consumers in a number of 15 to 18-inch rim diameters, a UTQG rating of 700 AA, and H and V speed ratings.

30th August 2012/by Tyrepress Editors

Talking road safety? Say it with puppets

Life-sized puppets play a key role in a new road safety promotion jointly staged by Michelin and vehicle leasing/fleet managing company Arval. As part of its corporate social responsibilities, Arval is working with the tyre maker to get the road safety message across to teenagers near its Swindon head office. The puppet show will be presented to Swindon College and Royal Wootton Bassett Sixth Form in September.

28th August 2012/by Tyrepress Editors

Conti expanding US headquarters

Continental Tire the Americas announced a major expansion of its US headquarters in Ft. Mill, South Carolina. US industry publication Tire Review shares that the three year old headquarters building will be extended by 16,000 square feet, creating a total area of 91,000 square feet. Along with a larger floorspace, the expansion will bring 80 new jobs to the headquarters over the coming four years.

27th August 2012/by Tyrepress Editors

Goodyear India to transfer truck capacity to agri production

In its 2011 Annual Report, Goodyear India Limited shares that it intends to phase out production of cross-ply medium commercial truck tyres and transfer the freed-up capacity to the manufacture of agricultural tyres. “In the farm segment, growing levels of farm mechanisation and subsequent growth in all agriculture related industries should provide your company with attractive growth prospects,” stated the Annual Report, adding that the majority of agricultural products currently sold by Goodyear Indian are cross-ply construction.

27th August 2012/by Tyrepress Editors

Yokohama granted integrated ISO 14001 certification

In August, some 14 years after its first plant obtained ISO 14001 certification, Yokohama achieved company-wide integrated certification under ISO 14001. The Environmental Management Systems (EMS) certification covers Yokohama Rubber’s nine locations within Japan: the company’s head office and eight domestic production sites (Hiratsuka, Mie, Mishima, Shinshiro, Onomichi, Ibaraki, Nagano and Hiratsuka-East).

27th August 2012/by Tyrepress Editors

US tariff expiry date draws near

On 26 September, the US tariff on Chinese-manufactured consumer tyres is scheduled to end. On that day it’ll be exactly three years since a 35 per cent duty was slapped upon all such tyres imported from China; this was reduced to 30 per cent in 2010 and for the past 12 months US consumers have paid a 25 per cent duty on Chinese passenger car and light truck tyres. The tariff received a mixed welcome – the Tire Industry Association referred to it in 2009 as “a politically motivated decision that will end up costing more jobs than it saves” while the United Steelworkers union praised Barack Obama as being “a President with the guts to enforce trade laws.” Either way, in little over a month the tyre tariff will be history.

21st August 2012/by Tyrepress Editors

Rubber ‘cartel’ acts against price drops

A statement on the International Tripartite Rubber Council’s website shows that the organisation, set up in 2001 to represent the interests of the world’s three largest natural rubber producing countries – Thailand, Indonesia and Malaysia – doesn’t intend to sit back and accept the lower prices the commodity has received of late.

20th August 2012/by Tyrepress Editors

Michelin invests in TyreCheck provider

The Irish Independent reports Michelin has acquired an interest in Irish firm Async Technologies, Ltd., provider of the TyreCheck range of hardware and software solutions, for 2 million euros. The newspaper writes that new filings with Ireland’s Companies Registration Office show Async Technologies to have recently finalised a 2 million euro investment from the French tyre maker, who received 27,185 Async shares in return. The Irish Independent notes that these shares, valued at 74.57 euros each, give Michelin a “significant stake” in Async Technologies.

20th August 2012/by Tyrepress Editors

Kumho strike over

In a disclosure submitted to the Korea Stock Exchange, Kumho Tire reports that the strike announced on 16 August is already over. The tyre maker says normal production resumed at both its Gwangju and Gokseong plants in South Korea on 17 August. Kumho Tire shares rose 3.6 per cent following this announcement.

17th August 2012/by Tyrepress Editors

Strikes begin at two Kumho plants

Unionised workers at Kumho Tire’s Gwangju and Gokseong factories in South Korea have gone on strike, the Yonhap News Agency reports. According to Yonhap, the workers’ union said a general strike began on 16 August in order to secure higher wages; a walkout took place in the Gwangju plant at 6:30am and half an hour later in Gokseong. The news service shares that the strike follows the end of a union-led partial walkout by 3,100 workers that lasted a month and also centred on wage and “other outstanding differences.”

16th August 2012/by Tyrepress Editors

Goodyear supply to US sprint series winding up

Goodyear Tire & Rubber shares that its role as official tyre supplier to the US-based World of Outlaws Sprint Car Series will end after the 2012 season. Announcing the decision on 14 August, GoodyearRacing marketing manager Justin Fantozzi said “for three years, Goodyear’s high quality tyres have helped to maintain the World of Outlaws Sprint Car Series as the most exciting and competitive series on dirt. We wish the World of Outlaws continued success in the future.”

15th August 2012/by Tyrepress Editors

Terms agreed for Titan Europe share offer

News of Titan International’s moves to acquire Titan Europe PLC has been public for about a month now, but to fulfil Rule 2.7 of the Takeover Code, the company announced on 10 August its formal acquisition offer. In a statement, Titan International reports that agreement has been reached between the board of Titan International and the independent directors of Titan Europe on the terms of a recommended share offer for Titan Europe’s entire issued and to be issued share capital.

13th August 2012/by Tyrepress Editors