Singapore’s Stamford Tyres announced the entry onto the winter tyre market of its Firenza brand, introducing the company's initial sizes of its Nu Ice Firenza winter tyre range. Stamford Sport Wheels (SSW), a subsidiary partner of the Stamford Tyres Group, used its portion of the Stamford stand to display a new alloy wheel collection. SSW launched its latest range of Soleil alloy wheels in Europe for cars, 4×4/SUV's and light trucks.
Although overall sales, volumes and operating income all decreased year-on-year, Goodyear Tire & Rubber nevertheless managed to increase its revenue per tyre in the second quarter of 2012. The US tyre maker reports sales of $5.2 billion during the three months to 30 June, eight per cent lower than in the second quarter of 2011 and reflecting weaker economic conditions and unfavourable foreign currency translation. Operating income decreased $46 million year-on-year to $336 million. Tyre unit volumes totalled 39.2 million in the quarter, down nine per cent from 2011 and reflecting weaker replacement sector volumes, most notably in Europe. Revenue per tyre increased eight per cent, while net income amounted to $85 million (33 cents per share), up from $40 million (16 cents per share) in the 2011 quarter.
Japan’s Jiji Press writes that the country’s tyre makers are increasingly moving production offshore to escape diminishing sales at home. According to the news service, a shrinking domestic market and an aging population are teaming up with the high yen to decrease demand for Japanese-produced tyres. As a result of this, a number of Japanese tyre manufacturers have shifted production overseas to locations where demand is higher.
Shen Jin-Rong, chairman of Hangzhou Zhongce Rubber, has spoken out in opposition to anti-dumping measures against Chinese tyres undertaken by countries such as India, Brazil and Colombia. Chen declared that such measures “do not work” and announced Hangzhou Zhongce will establish a manufacturing facility outside of China “mainly in order to circumvent anti-dumping.” Thailand has been named as the location for this new plant; Hangzhou Zhongce says it will erect a factory on a 67 acre site there at an investment cost of RMB 1 billion (£102 million).
On 2 July Bridgestone celebrated the groundbreaking of its new passenger car tyre facility in Vietnam, the company’s first factory in the country. The ceremony at the chosen plant site in the Dinh Vu Industrial Zone, Hai Phong City, was attended by the Vietnam’s Deputy Prime Minister, Hoang Trung Hai, along with other government officials and management from Bridgestone’s business partners. Representing the tyre maker at the ceremony were Kazuhisa Nishigai, Bridgestone Corporation COO and Representative Board member, and Susumu Yazaki, president of Bridgestone Tire Manufacturing Vietnam Limited Liability Company.
Market research firm GfK Asia has released a report on the performance of four emerging Southeast Asian tyre markets in the first quarter of 2012; the company found that demand for replacement tyres in the countries investigated – Indonesia, Malaysia, Philippines and Thailand – increased 14 per cent between January and March in comparison with the October to December 2011 quarter. According to GfK’s retail tracking of replacement passenger car tyres across a number of cities within the four countries, some 2,557,600 tyres were replaced in the first three months of the year.
Transense Technologies plc reports that its Translogik Ltd trading division has received a further order for 60 of its truck tyre inspection kits from its French partner, EDP. The tools will be supplied as part of EDP's commercial fleet management systems. Jean-Luc Giusti, CEO of EDP commented: "We are continuing to develop our range of electronic tyre inspection solutions that integrate the Translogik tools with our commercial fleet management software. Our customers demand systems that can operate reliably and accurately, 24/7, and the best-in-class Translogik solution is the only tool we recommend."
Sales at Goodyear Tire & Rubber Company during first quarter of 2012 were a record for the period, the US tyre maker claims. Announcing the company’s results for the opening three months of the year, Goodyear chairman and CEO Richard J. Kramer commented “I'm pleased with our results as our businesses posted solid operating income.”Our teams delivered these results in the face of a difficult volume environment and high raw material costs, with a strong focus on price/mix.
As a well established, regular exhibitor at the Reifen exhibition, Singapore based Stamford Tyres will once again be using Europe’s most important tyre show to maximum effect. This year it has secured a larger, 100 square metre stand for itself (hall 2, stand 530), and will introduce a new tyre and a new alloy wheel range.
Audi AG has agreed to buy Ducati Motor Holding S.p.A. for a reported £708 million. According to the company, the transaction will be completed “as quickly as possible” once authorized by the competition authorities. Ducati is now a third pillar for Audi AG in Northern Italy alongside Lamborghini and Italdesign. The company sees the move as "another building block in its growth strategy."
Since its formation in Thailand in 2004, Singapore-based Stamford Sport Wheels has evolved into one of South East Asia's leading and most successful alloy wheel manufacturers, exporting products to European and North American markets. Its manufacturing complex is based in the province of Nonthaburi, approximately 60km north of Bangkok and consists of two production facilities spanning around 30,000sqm. The company currently has the capacity to manufacture over 900,000 wheels a year; the current SSW product portfolio includes fitments between 13” and 20”. This allows it to serve the growing demands of Asian markets while continuing to serve global export goals. The company now aims to enhance its image as a producer of quality alloy wheels in particular throughout European markets – including the UK.
On 19 March, Japan’s JSR Corporation and its joint-venture partner Bangkok Synthetics Co., Ltd. held a groundbreaking ceremony for the Solution Polymerization Styrene-Butadiene Rubber (S-SBR) plant to be constructed by their company, JSR BST Elastomer Co., Ltd. (JBE). The Muang, Rayong Province-based plant is scheduled to enter operation in June 2013; the facility will be the first S-SBR manufacturing plant in Thailand.
Global demand OTR radials for use in construction and mining applications is growing, and to meet the needs of a hungry market, Bridgestone intends to build a new production facility in Thailand. On 5 March the Japanese tyre maker announced plans to invest around 50 billion yen (£385.6 million) setting up the tyre plant in Rayong, and production there is expected to begin in the first half of 2015. Production capacity at the new plant is expected to reach approximately 85 tons per day by the 1st half of 2019, when scheduled capacity increases are completed. In addition, Bridgestone will also erect a steel cord manufacturing facility through its cord manufacturing subsidiary.
The Goodyear Tire & Rubber Company has reported increased sales and earnings for the fourth quarter of 2011 and the full year. In the Europe, Middle East and Africa region the company improved on its 2010 figures, with segment operating income up to $627 million, compared to $319 million in the previous year. The company’s fourth quarter represented a slowdown in the region, shipping fewer tyre units than in 2010 – 16.9 million vs. 17.7 million – and it predicted that 2012 would be down by up to nine per cent in European consumer business, with worse predicted for the commercial original equipment market. Chairman and chief executive officer, Richard J Kramer commented on the company’s overall sales and segment operating income records by saying the company had “successfully managed a challenging economic environment.”
Commercial production got underway at JK Tyre & Industries’ new plant in Chennai, India on 5 February. The company announced the facility’s entry into service at a press conference in Chennai the following day.
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