Now one of the largest tyre-producing countries in the world, China has an indisputable influence on the direction of global tyre trade. The home of both fast-growing up-and-coming brands as well as a burgeoning domestic market, this tag chronicles China’s involvement with the tyre business.
Cooper Tire & Rubber Company reports that it has completed the sale of its 65 per cent ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd on 1 December for approximately US$262 million net of taxes and including dividends in accordance with the previously announced option agreement. Earlier reports suggested […]
Fiat Chrysler Automobiles (FCA) has chosen Nexen Tire as an ‘excellent supplier’ at an awards ceremony recently held in China. The ‘2014 APAC Supplier Town Hall and Awards Ceremony’ were held in Shanghai to honour the global suppliers FCA considers have delivered the best quality, brand values and technical skills.
The Chinese-market edition of auto motor und sport magazine has voted the Nokian Hakkapeliitta R2 the winner of its latest winter tyre test. According to Nokian Tyres, the publication called the Hakkapeliitta R2 the “king of winter tyres” in the test that appeared in its 10/2014 issue. The Nokian tyre was one of seven brands (others included Continental, Michelin, Dunlop and Goodyear) tested. Auto motor und sport described the Nokian tyre as offering “excellent grip, good track follow ability, easy to get grip when accelerating and no loss of grip when climbing hill straightly (sic).” The overall evaluation of the Hakkapeliitta R2 is that “it makes everything simple”.
When you add the standard preliminary countervailing charge of 15.69 per cent to the predicted anti-dumping tariff of between 25 and 35 per cent, it means we are looking a total potential tariff load in the region o 40 to 50 per cent. Writing in an investor’s note published immediately after the Department of Commerce announcement, SunTrust Robinson Humphrey analyst Robert Higginbotham certainly suggested as much: “We believe in the middle to upper end of expectations. Countervailing typically the smaller of the two pieces (the other being antidumping); today’s decision [24 November] implies a total tariff in the range of 45-50 per cent.
Following the news that the US Department of Commerce (DoC) had set the preliminary countervailing duty for Chinese consumer tyres, market analysts have begun estimating what they think the outcome of final determinations will be when they are announced on 6 April 2015. Preliminary details of anti-dumping duties are expected in January 2015. Writing in […]
The US Commerce Department (USDOC) has moved to impose import tariffs on tyres manufactured in China and imported into the US. The USDOC has also agreed to initiate work on an additional nine subsidy programs identified by the USW. The preliminary finding suggested that Chinese-made tyres in this category are unfairly subsidized and should be subject to countervailing duties of 17.7 per cent and 81.3 per cent. The precise percentage depends on the manufacturer in question, but the standard rate is reportedly 15.69 per cent. This is the second round of passenger vehicle and light truck duties since the millennium. The first round ran from 2009 to 2011 and ranged from 35 to 25 per cent.
Mesnac Co., Ltd. has promoted Zheng Jiangjia into the role of president of the company, effective on 27 October 2014. Zheng Jiangjia joined Mesnac in May 1998 and served as the general manager of MESNAC Dosing System Division, assistant president and executive vice president.
Tyre manufacturing machinery and systems supplier, Mesnac recently won the “Golden Rubber Award” at China International Rubber Industry Expo, which is also known as CIRI Expo. Mesnac was also recognized as one of the “2014 Top Ten Leading Brands” in China.
After a close fight in the race to Cape Town, tyre maker Aeolus has congratulated the Dongfeng team for crossing in second place at 15:22:48 UTC on 5 November, just 12 minutes and 4 seconds behind Abu Dhabi Ocean Racing.
Dongfeng skipper, Charles Caudrelier: “As a team we might not have much experience in the Volvo Ocean Race but my men know how to fight and they fight for every 1 per cent. I have a great team around me and for leg 1 we are really happy. We were not the favourites, we knew this, but I also knew we could do great things. I chose men that could fight.”
Although only a few Chinese tyre makers can be considered sizeable suppliers in the European market, a glance at the top names in the Chinese tyre market shows that exactly the same applies in reverse. The massive share held by the names at the top of the list also points to the trend towards consolidation within the market.
Trelleborg Wheel Systems has agreed an OE supply deal with Shanghai Hyster Forklift Ltd. The deal was signed at the CeMAT Asia show in Shanghai, China on 29 October.
Nicolas Nolle, director of global OEM business for Trelleborg Wheel Systems Industrial Tires, and Richard Lim, managing director of Shanghai Hyster Forklift Ltd, signed the agreement between the two companies in Shanghai.
At this year’s Michelin Challenge Bibendum, currently taking place in Chengdu, China, the tyre maker has introduced its so-called ‘Green Paper’, a document on sustainable mobility that contains key proposals to meet the challenges tomorrow may bring. The Green Paper includes a number of recommendations based on lessons learned during the 11 previous Michelin Challenge Bibendum events and the collaborative work of institutions and event partners.
The solar photovoltaic power station project at Continental’s tyre plant in Hefei, China was officially inaugurated yesterday at a ceremony attended by local government representatives and by Stephan Weil, prime minister of Continental’s home region of Lower Saxony, Germany. Representing the tyre maker at the event was Dr Ralf Cramer, member of Continental’s Executive Board and CEO of Continental China, and Michael Egner, general manager of the Continental site in Hefei. The solar project is being jointly implemented by Continental and HeFei SuMeiDa Sungrow Power Co., Ltd.
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Shares of Cooper Tire & Rubber Co. fell 1.9 per cent on 7 November following news that the company’s earnings in the third quarter of 2014 increased to 77 cents from breakeven earnings in the prior-year quarter. The latter figure is significant because it exceeded certain analysts’ estimates. For example the Zacks Consensus Estimate of 72 cents was some five cents below the actual results.
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