Shandong Linglong Aims for 20% Export Increase in 2010
Last year Shandong Linglong reportedly exported 12.969 million tyres and earned an export delivery income of RMB 4.139 billion (£403.6 million), an amount said to be more than that earned by any other Chinese manufacturer. At the Reifen 2010 show in Germany, Shandong Linglong Tire Co., Ltd. CEO Wang Feng told Tyres & Accessories that the company’s aim for 2010 is to further improve on this already impressive result.
Continue ReadingMatador-Omskshina JV Marks 15th Anniversary
This year Continental Matador Rubber celebrates the 15th anniversary of the ZAO Matador-Omskshina joint venture project, which is based in Omsk in the Russian Federation. The founders, Slovakia’s Matador and Russia’s Omskshina, each contributed a 50 per cent capital share in order to establish a passenger car and light commercial vehicle tyre production facility. The joint-venture was officially registered in the Russian Federation on 17 May 1995.
Continue ReadingToyo Announces Death of Carlos Kibata
Toyo Tire Holdings of Americas Inc. has announced the death of its chairman, Carlos (Shozo) Kibata on June 26, 2010, following a brief illness. Kibata, aged 64, had been with the Toyo Tires organisation for more than 41 years and in addition to being chairman was until recently an executive corporate officer of Toyo Tire & Rubber Co., LTD. in Japan.
Continue ReadingDelticom Increases Target EBIT Margin
Online tyre retailer Delticom AG reports a “significant” increase in revenues and earnings during the first half of 2010, and while admitting it may have to face “headwind” from a weakening consumer climate and negative base effects in the upcoming quarters, the company’s management board says it is now confident of achieving a higher level of profitability than initially expected for the full year.
Continue ReadingSchaeffler Preparing For Conti Merger
As of June 28, the Schaeffler Group has consolidated its operational businesses and its share in Continental AG under a corporation called Schaeffler GmbH. This company, based in Herzogenaurach, Germany, will function as a management holding for the operational businesses of the Schaeffler Group and is wholly owned by the Schaeffler family.
Continue ReadingLanxess Boosting Butyl Rubber Capacity in Belgium
Production capacity at Lanxess’ butyl rubber facility in Zwijndrecht, Belgium is to be expanded by ten per cent to meet growing global demand for butyl and halobutyl synthetic rubber. The company has announced its intention to invest 20 million euros to lift annual capacity by 14,000 tonnes to around 149,000 tonnes, with the required work being mainly undertaken during a scheduled plant turnaround in the third quarter of 2011. The changes necessary to accommodate this higher capacity are anticipated to be in place and completed in the second quarter of 2012, and Lanxess comments the plant will produce a “superior quality” of butyl rubber.
Continue ReadingBridgestone Projects Significantly Improved Financial Result
Bridgestone has revised its financial projections the first half of the 2010 fiscal year and released its projections for the entire fiscal year. Its revised first half net sales figure of 1,360,000 million yen (£10.1 billion) is 1.5 per cent higher than that previously given on May 7 and projected net income, now 37,000 million yen (£275.0 million), is 37 per cent higher than the May 7 projection. The company now anticipated annual net sales of 2,900,000 million yen (£21.5), slightly higher than the 2,597,002 million yen earned in the 2009 financial year. Operating income, however, is projected to increase 58 per cent to 130,000 million yen (£966.3 million), projected ordinary income is 113,000 million yen (£839.9 million) and net income to skyrocket from 1,043 million yen to 77,000 million yen (£572.4 million). Despite rising raw material costs, the company still anticipates that operating income, ordinary income and net income will exceed the prior year’s results primarily due to increased tyre unit sales and a corresponding improvement in cost per unit due to increased production levels.
Continue ReadingApollo Does “Good Business” with Vredestein – Purchase Price Revealed
It is not just Apollo Vredestein CEO Rob Oudshoorn that considers Apollo Tyres’ acquisition of the Dutch tyre maker to have been “good business”.
Continue ReadingGovernment Confirms Safety of Michelin Grant
A £3.9 million grant awarded to Michelin through the Advantage West Midlands regional development agency for the improvement of its Stoke-on-Trent facility has been confirmed by the Department for Innovation and Skills. The grant will allow the French manufacturer to make plans for the modernisation of the site.
Continue ReadingNokian Confirms Lay-Offs
Nokian Tyres reports that statutory negotiations at its Nokia, Finland plan came to an end on June 21. The results of these negotiations have been 13 permanent and 37 temporary lay-offs. Nokian comments that these cuts concern “all personnel groups” and adjust the plant’s production and support function resources to meet the shift system currently in use.
Continue ReadingAftersoft Group Rebrands as MAM Software Group
MAM Software Ltd has held pride of place as the Aftersoft Group’s largest subsidiary of, and the significance of the automotive industry computer systems and data solutions supplier can be seen in the decision to rename the parent company; the Aftersoft Group has been rebranded as MAM Software Group, Inc.
Continue ReadingLanxess Increases NBR Price
The Technical Rubber Products (TRP) business unit of specialty chemicals group Lanxess AG has increased its prices effective for NBR (nitrile-butadiene rubber) in Europe. Effective June 15, price per tonne has rises to 210 euros. Lanxess claims the increase is “unavoidable” as costs for raw materials have risen significantly.
Continue ReadingToyo Dumped From US Truck Tyre Partnership, Sues Conti, Yokohama
Information obtained by Tire Review in the US indicates that Toyo Tire USA is “scrambling to fill truck tyre orders” following its dismissal earlier in the year from the GTY Tire Co. joint venture by partners Continental Tire the Americas and Yokohama Tire Corporation. The tyre maker has taken legal action as a result of this action and, in a lawsuit filed in January, Toyo claims that both Conti and Yokohama are attempting to prevent Toyo from selling any radial truck tyres in the US for five years, and that the partners have declared GTY Tire to be no more. All this, notes Tire Review, may be the indirect result of the “business and capital alliance” partnership struck between Toyo Tire & Rubber and Bridgestone Corporation in May 2008.
Continue ReadingPirelli Estimates Continued Global Market Growth
Information supplied by Pirelli indicates continued year-on-year growth in European OE and replacement sectors for both passenger car and commercial vehicle tyres. During May 2010 the OE and replacement passenger markets in Europe grew nine and 14 per cent respectively, the tyre maker estimates, bringing year-to-date growth to 28 and 11 per cent. For the commercial vehicle market, Pirelli estimates a respective year-on-year growth for the OE and replacement segments of 72 per cent and 16 per cent. Year-to-date, the European OE truck tyre market has grown 13 per cent and the replacement market 33 per cent.
Continue ReadingPirelli Unveils Chinese Logo
In June 2010, Pirelli launched its new Chinese logo at a ceremony in Beijing attended by automotive industry executives, celebrity guests plus Chinese and international media. Pirelli describes the event as a “truly historic moment” that serves “as a testament to Pirelli’s product superiority and continued commitment to the Chinese market.”
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