Tag: China
Prometeon: no transfer of Aeolus production to Prometeon factories
Following statements from Aeolus suggesting "Aeolus moves production to Egypt and/or Turkey", Prometeon Tyre Group has announced that the project to transfer the production of tyres in the production plants of Prometeon Tyre Group, “is still under initial assessment by the two groups, as it is part of the broader integration project of the two companies”.
Tariff fightback? What importers and associations are doing in response to European anti-Chinese truck tyre duties
It is clear that European anti-truck tyre tariffs are already having marked impact on the shape of the market. This is putting pressure on affected importers and manufacturers alike, but – as we have seen elsewhere in this feature – it could also lead to price increases and product shortages. Here Tyres & Accessories takes a closer look at the issue and what is being done in response based on contributions of industry associations such as the NTDA and ITMA as well as key industry figures.
Chinese truck/bus tyres: EU introducing anti-dumping duties tomorrow
As of tomorrow (8 May 2018), the European Union will apply anti-dumping duties to certain Chinese-made truck and bus tyres entering the European Union.
OTR tyre sales to grow 4.7% CAGR 2017 – 2022
Whether you call them off-the-road, OTR or earthmover tyres, these products are some of the most valuable tyres in the market. And with good reason. Not only are they the physically largest tyre product segment on the planet, these products are often also required to endure the greatest pressures in the most unforgiving circumstances.
Toyo wins latest round of Doublestar legal action
Toyo Tire and Rubber and Toyo Tire USA have prevailed in the liability phase of the company's trade dress infringement and breach of contract suit in Los Angeles Federal Court against Doublestar Dong Feng Tyre and Qingdao Doublestar Tire Industrial.
5 OTR tyre firms remanded to US Department of Commerce
The US Court of International Trade (CIT) has remanded five Chinese OTR tyre importers to the Department of Commerce (DOC). This means an antidumping duty determination against the five firms and has been made and DOC has been ordered to recalculate the antidumping margins it issued against them in a 2016 administrative review.
Cooper Tire gains two Great Wall awards
Cooper Tire Asia has earned the 2018 Statistical Quality Award and the Simultaneous Engineering (SE) Achievement Award from Great Wall Motors Company Limited. Great Wall is China's largest SUV and pickup truck manufacturer, producing vehicles under the Haval and Great Wall brands. Cooper, which has been supplying original equipment tyres to Great Wall since 2011, was the only tyre company recognised by the automaker with these awards.
Why Doublestar’s Kumho purchase is a good idea
15 months after bidding got underway, Qingdao-based Doublestar and its consortium of Chinese banks and investors bought 45 per cent of the South Korean tyremaker Kumho Tire over the Easter weekend. Whatever other clauses are written into the deal, following the release of shares issued for the purpose of the sale, Kumho Tire’s creditors will own a 23.1 per cent shareholding in the tyre maker, down from 42.01 per cent. This makes the Chinese tyre firm controlling shareholders in South Korea’s Kumho Tire.
KDB wants a no-strike clause in Kumho/Doublestar deal
Korea Development Bank (KDB), the main creditor of Kumho Tire, has plans to put a no-strike clause in Doublestar’s current bid to buy Kumho.
US reduces Chinese-produced car tyre tariffs
While US President Donald Trump may be talking up the benefits of a trade way, after reviewing certain tariffs on passenger and light truck (PLT) tyres imported from China, the US Department of Commerce (DOC) has adjusted some of its antidumping and countervailing rates. Reductions in the antidumping tariffs for the period from 27 January 2015 through 31 July 2016 include the rate for Giti Tire dropping from 30.74 per cent to 1.5 per cent and Qingdao Sentury Tire dropping from 25.84 per cent to 4.41 per cent.
Linglong Tire a Geely ‘Best Partner’
On Saturday 17 March, vehicle manufacturer Geely Auto held its Annual Supplier Conference in Sanya, China, and one of the companies honoured with a ‘Best Partner’ award during the proceedings was Linglong Tire. The tyre maker states that this award from Geely represents the “biggest affirmation” of its activities last year.
ZC Rubber sales up 22%
At the ZC Rubber dealer meeting held in late January, the ZC Rubber reported that its 2017 sales revenue was up by about 22 per cent.
Doublestar back in pole-position for Kumho purchase
Having previously been ruled out of the running to buy Kumho Tire, Qingdao, China-based manufacturer Doublestar Tire is once again in pole-position to buy the South Korean tyremaker. “Doublestar Tire is the best option in view of a fast restoration of Kumho Tire and its corporation in China and the minimization of our losses”, Kumho’s creditors said in a widely reported statement.
New company Premier Tyres and Plastics International established
Premier Tyres and Plastics International (PTPI) is a new company with a long corporate history and values through Yanchang Rubber, Sinopec Solutions and China-based leading shipping and finance companies.
Truck tyre tariffs to end Chinese import tsunami
The EU’s decision to implement import tariffs on Chinese-produced truck tyres marks a sea-change in both the truck tyre market in general and European governments’ approach to the subject in particular. As of the 8 May 2018, truck tyres produced in China and imported into the UK have become between 52.85 euros and 82.17 euros per tyre more expensive than before. And what’s more, with product registration having begun back in February 2018, such charges look likely to be backdated to February on tyres already sold. This cannot fail to have an enormous impact, but what exactly will it mean for the truck tyre sector?
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