Tag: India
Slight slowdown in India’s radialisation
The radialisation in India’s commercial vehicle and off-highway tyre market has slowed down but is still progressing, says Apollo Tyres. During an earnings call earlier this month, chief financial officer Gaurav Kumar commented that radialisation in the market as a whole has “slowed down slightly from earlier expectations.”
JK Tyre now 26% shareholder in Treel Mobility Solutions
In June and July, J.K. Organisation company JK Credit & Finance acquired 50.003 per cent equity shares in Indian start-up Treel Mobility Solutions Pvt. Ltd. JK Tyre & Industries has now obtained 26 per cent equity in the smart tyre system specialist from its group sibling and rebranded Treel as a ‘JK Tyre Product’. JK Tyre paid Rs 59.8 million for its 26 per cent share in Treel; JK Credit & Finance continues to hold 24.003 per cent in the company.
Endurance Technologies drops plans to make tyres
Indian automotive components manufacturer Endurance Technologies Limited has informed the National Stock Exchange of India (NSE) that it’s halted plans to set up a tyre manufacturing operation. The decision not to expand into this area was made after investors voiced concerns about the project.
Ceat: Two more OE tyre approvals
Ceat tyres have been chosen as original equipment on two new models sold in the Indian market, the Hyundai Venue and the latest Suzuki Alto.
India: From rubber growers to tyre makers
Rubber growers in India’s Kerala state are guarding themselves against potential slumps in natural rubber prices by forming a producer company that will manufacture tyres for two- and three-wheel vehicles. The Integrated Rubber Farmer Producer Company Ltd (IRFPC) was registered last November. The Pala-based company is being financed in part by a share float open to rubber farmers, and is also being assisted by German NGO the Andreas Hermes Akademie.
Apollo Tyres introduces EnduMaxx brand in India
Apollo Tyres has introduced the Endumaxx brand of tyres for light trucks in India. The company described light truck radial demand as having “a potential of 112,000 tyres per month in India, and it is growing at a much faster pace than any other segment”.
Maxxis to supply OE to Hero MotoCorp
Numerous Indian news sources are reporting that Maxxis India has entered into an OE supply arrangement with scooter manufacturer Hero MotoCorp. As a result, Maxxis is set to supply its 90/100-10 M6000 53J front and rear tyres.
Kobe Steel buys out L&T Kobelco Machinery
Kobe Steel has bought all the shares of its Indian tyre and rubber machinery joint venture, L&T Kobelco Machinery (LTKM), making it a wholly owned subsidiary. LTKM manufactures, designs and sells rubber machinery used in tyre manufacturing.
Marangoni opens 4th Ringtread franchise in India – 4 more on the way
Marangoni’s Ringtread retreading process doesn’t yet have a sizeable footprint within India’s large commercial vehicle sector, but it is growing. The Marangoni GRP Private Limited (MGPL) joint venture that was established in late 2015 recently took on its fourth franchise partner in India. Marangoni says it is also progressing with plans to add a further four franchise partners.
Investigation: India considering duties on Chinese truck tyres
Authorities in India are conducting an investigation into alleged subsidies on truck and bus tyres imported from the People’s Republic of China. According to a document released on Wednesday by the Directorate General of Trade Remedies, a department of India’s Department of Commerce, the investigation is taking place in response to a submission filed by local industry representative the Automotive Tyre Manufacturer’s Association (ATMA) on behalf of tyre makers Apollo Tyres, J. K. Tyre & Industries, MRF and Ceat. Should the allegations be verified, the department will recommend implementing countervailing duties.
Hella opens second electronics plant in India
Hella, the global automotive supplier, has opened a second electronics plant in India. The new production facility in Mehsana, India, north of the city of Ahmedabad in the state of Gujarat, will meet the growing demand for electronic components and strengthen proximity to its local customers.
Ceat’s Anant Goenka give ATRC keynote address
CEAT managing director Anant Goenka will deliver the keynote address at the 5th Asian Tyre & Rubber Conference 2019 (ATRC) on 20 June 2019. The two-day event organised by Asian Business Media, will be held at Hyatt Regency, Chennai on from 20-21 June.
Trelleborg invests in India two-wheel tyre production JV
Trelleborg Wheel Systems is investing in a two-wheel tyre factory in India. According to the company, the investment forms part of Trelleborg’s strategy to “strengthen its positions in attractive market segments”. Currently Trelleborg’s mostly makes two-wheel tyres in Europe. Products include tyres for selected niches, such as enduro and motocross, as well as scooters, mopeds and motorcycles.
Kesoram to spin off Birla Tyres
On 4 December Kesoram Industries Ltd (part of the BK Birla Group of Companies) announced its intention to demerge its Birla Tyres Ltd business. As a result, Birla Tyres will become a listed company with its own shareholders. The demerger is scheduled for 1 January 2019.
Apollo Tyres partners with Indian cricketing great
Extending its sports sponsorship engagement beyond football, Apollo Tyres has entered into a five-year agreement with former Indian international cricketer and team captain Sachin Tendulkar. This is the first time an individual celebrity has served as Apollo brand ambassador.