Tag: China
Hella promotes intelligent mobility infrastructure in Beijing
Hella, the lighting and electronics specialist is participating in a consortium initiated by the Chinese automobile manufacturer BAIC to develop an intelligent mobility infrastructure in Beijing. This includes communication between vehicles and their environment, via traffic lights equipped with sensor technologies, for example. A total of thirteen international and Chinese technology companies are involved in the non-exclusive cooperation.
EU publishes definitive anti-subsidy and updated anti-dumping rates
The European Union has published its definitive decision relating to anti-subsidy duties imposed on Chinese-produced truck tyres imported into the continent. This follows the EU’s final decision on anti-dumping duties, which was released on 18 October 2018. In short, the latest document (which runs to well over 120 pages) demonstrates how large subsidies have supported some Chinese tyre makers. However, it doesn’t mean the overall per tyre rate importers have to pay will change.
SSE debut for new Sailun Group ticker symbol
As of today, Sailun’s ticker symbol on the Shanghai Stock Exchange has changed from ‘Sailun Jinyu Group Co., Ltd.’ to ‘Sailun Group Co., Ltd.’. The tyre maker’s securities code remains 601058.
Steel wheels from china sold in US at “less than fair value”
Following an investigation covering the period from 1 July to 31 December 2017, the US Department of Commerce has issued a preliminary determination that steel wheels from the People's Republic of China were (or were likely to have been) sold in the United States at less-than-fair-value. It now invites interested parties to comment on this preliminary determination.
Chinese truck/bus tyres: US court partially rejects determination
The U.S. International Trade Commission (ITC) must reappraise its final determination on truck and bus tyres from China after the US Court of International Trade (CIT) only partially sustained the ITC’s determination that the US tyre industry has been neither materially injured nor threatened with material injury by imports of these products.
Pirelli completes high-end tyre JV
With the completion of Pirelli’s acquisition of a 49 per cent stake in Jining Shenzhou Tyre Co., the tyre maker’s management assume operational responsibility for the joint venture company’s consumer tyre plant in China. Pirelli states that the new plant will provide it with the “necessary production flexibility” it requires within its ‘High Value’ segment to accommodate the evolving Chinese market as well as expected developments in electric vehicles and the growing share of original equipment homologations obtained in China, Japan and Korea.
EC: “Important number of subsidies” uncovered by anti-subsidy investigation
In addition to announcing its final decision on measures related to Case AD640, its anti-dumping proceeding on new and retreaded truck and bus tyres manufactured in China, the European Commission has commented briefly on Case AS641, the anti-subsidy investigation focusing on these products.
EU makes final truck tyre anti-dumping duties decision, retains fixed rates for manufacturers
The European Union has made its conclusive statement on the introduction of anti-dumping tariffs on truck and bus tyres and retreads manufactured in China. As previously announced, the EU will impose fixed rate anti-dumping duties on the products, with the final regulation 2018/1579 implemented from 23 October. This ends speculation that percentage rates could be applied. In fact, the EU has revised tariff levels up, almost across the board.
Yokohama tyres OE on China-made BMW X3
Yokohama Advan Sport V105 tyres made at Yokohama Rubber’s factory in Suzhou, China will be supplied as original equipment for BMW X3 models manufactured in China. The Suzhou plant began shipping size 245/50R19 105W OE tyres bearing the BMW ‘star’ mark on the sidewall in May.
Michelin predicts significant slowdown in car and truck tyre demand
While presenting its nine-month 2018 results, Michelin has predicted a significant slowdown in passenger and truck tyre market conditions in the second half of the year. However, the well-known tyre manufacturer also predicted “sustained growth” in the speciality sector, which consists of OTR, two-wheel, aircraft and agricultural tyres.
Shareholder approval for Sailun Jinyu name change
The vast majority of Sailun Jinyu Group shareholders have approved the adoption of a new company name and changes to the company’s articles of association. Votes held during an extraordinary meeting of shareholders on 12 October resulted in a 99.1 per cent turnout in favour of both measures. The tyre maker will thus adopt the name Sailun Group Co., Ltd.
Cabot buys NSCC Carbon in US$50 million transaction
On 1 October Cabot Corporation acquired NSCC Carbon (Jiangsu) Co., Ltd. from Nippon Steel Carbon Co., Ltd., a subsidiary of Nippon Steel Chemical & Material Co., Ltd. The carbon black manufacturing facility in Pizhou, Jiangsu Province, China, was originally commissioned in 2015. The purchase price and certain equipment and technology upgrades are expected to result in spending of approximately $50 million over the next two years.
Prinx Chengshan goes live on HKEX
The striking of a ceremonial gong at precisely 9:30am this morning marked the listing of Prinx Chengshan (Cayman) Holding Limited on the Hong Kong Stock Exchange. Today's listing follows nearly a year of preparations and represents an important step in the company's growth and internationalisation strategy. Trading under stock code 1809, Prinx Chengshan is the first China-based tyre manufacturer to join the HKEX.
Jiangsu General investing US$300 million in Thailand tyre plant
Jiangsu General Science Technology Co. Ltd. is set to invest around US$300 million in the construction of a tyre manufacturing facility in Thailand. The news follows earlier reports published in the Spring that Jiangsu General was considering Cambodia for the investment.
Sailun Jinyu joins Cooper Tire in GRT joint venture
In 2016, Cooper Tire & Rubber invested some US$93 million to acquire a 65 per cent shareholding in Qingdao Ge Rui Da Rubber Co., Ltd (GRT). The remaining 35 per cent share in the China-based truck and bus radial manufacturing operation was retained by Qingdao Yiyuan Investment Co., Ltd. (QYI), however QYI is now selling its stake in the business. Sailun Jinyu Group Co., Ltd. has signed a share transfer agreement with QYI to acquire its 35 per cent interest in GRT for RMB 220 million (£24.4 million, US$32.0 million), subject to government approval.