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You are here: Home1 / Indonesia

Indonesia

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Indonesia not on track to meet vehicle export target, says GlobalData

International News

Following the news from the Association of Indonesia Automotive Industries (GAIKINDO) that automotive exports from the country declined by 30.1 per cent, Bakar Sadik Agwan, senior automotive consulting analyst at GlobalData, says: “Indonesia’s automotive output tumbled significantly due to the COVID-19 and troubled economic environment in 2020. Production, domestic sales, exports and imports all were significantly below the initial expected levels. Indonesia, which is the second largest vehicle manufacturer in the Southeast Asia, depends heavily on exports, making it a key variable for the domestic automotive economy.

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Related news:

  1. Manufacturers Take On the Russian Market
  2. Gajah Tunggal looks to the USA for growth
  3. Multistrada to increase production capacity despite lower car tyre exports
  4. Top natural rubber produces cutting exports by 240,000 tons
19th February 2021/by Peter Gardner

Toyo closes loss-making Silverstone tyre plant in Malaysia

Company News, International News
Silverstone

Toyo Tire Corporation is closing its loss-making wholly-owned Silverstone Berhad Malaysian tyre manufacturing subsidiary in June 2021. Established on 12 July 1986 and purchased by Toyo in 2011, Silverstone currently manufactures tyres for (primarily Malaysian) new vehicles and Silverstone branded tyres for the aftermarket as well as certain Toyo branded tyres. The dissolution of the Silverstone subsidiary (Silverstone Berhad) will commence by 31 December 2021.

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Related news:

  1. Toyo’s Shandong Silverstone acquisition finalised
  2. Toyo announces plans for new Malaysian tyre plant
  3. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  4. Michelin now 99.64% owner of Multistrada
15th February 2021/by Chris

Gajah Tunggal: Multistrada merger rumour untrue

International News

There’s no substance to the rumour about a merger with Michelin-owned tyre maker PT Multistrada Arah Sarana Tbk, says PT Gajah Tunggal Tbk. Indonesian financial publication Kontan reports that when asked to confirm or deny the alleged transaction, Gajah Tunggal’s finance and accounting director Kisyuwono responded that the rumour is “not true”.  

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Related news:

  1. Interested parties vie to acquire Indonesian tyre maker Multistrada
  2. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  3. Michelin now 99.64% owner of Multistrada
  4. Gajah Tunggal Considering Share Issue
13th January 2021/by Stephen

Michelin accused of Indonesia natural rubber deforestation “cover-up”

Company News, International News
Mighty Earth

Campaign group Mighty Earth has published a report alleging that Michelin “covered up industrial-scale deforestation of over 2,500 hectares of rainforest in the run-up to the launch of its flagship ‘eco-friendly’ sustainable natural rubber joint venture project in Sumatra, Indonesia”. The project is currently seeking an additional $120 million in investment from green financiers. Michelin’s joint-venture Indonesia natural rubber project Royal Lestari Utama (RLU) robustly denied the allegations.

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Related news:

  1. TREC: Michelin partners to extract alcohol and rubber from used tyres
  2. Were communications issues behind premium tyremakers share price drop?
  3. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  4. Michelin now 99.64% owner of Multistrada
21st October 2020/by Chris

Marubeni re-brands Indonesian tyre retail chain as B-Quik

International News
B-Quik; Marubeni

Marubeni is well-known for its range of tyre-related investment interests. While the conglomerate began in Japan, recent additions in Russia and US-based Tyrata demonstrate the diversity of its tyre-related portfolio.

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Related news:

  1. Sixth Consecutive Record Year For B-Quik
  2. B-Quik Expands Despite Unrest in Thailand
  3. B-Quik – Tyre retail service Thai style
  4. Low Demand For Cars In Thailand Boosts B-Quik
15th October 2020/by Chris

Kenda denies Indonesia relocation plans

International News

Kenda Rubber Industrial has been producing bicycle and motorcycle tyres at its Indonesia plant since 2015. According to local media reports, the Taiwanese manufacturer now wants to move production capacity from China to Indonesia.

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Related news:

  1. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Triangle: no Russian tyre plant…for now
  4. Linglong considering European factory
3rd July 2020/by Chris

Maxxis re-appoints Dr Wally Chen as chairman

Career Tracks, Company News, International News
Former Maxxis International president Dr Wally Chen (pictured) is now Maxxis/Cheng Shin chairmanMaxxis International

Former Maxxis International president Dr Wally Chen is leaving retirement to assume the chairmanship of the company. Dr Chen, who oversaw Maxxis’ rise to the ranks of the world’s top 10 tyre companies, will assume the chairmanship effective immediately following a vote by the company’s board of directors at a recent meeting. He replaces former Maxxis/Cheng Shin chairman Robert Lo (pictured).

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  1. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  2. Cheng Shin appoints new chairman, outlines Indonesia project at AGM
  3. Poland – most likely site for Apollo’s new factory?
  4. Management changes at Norbar
17th June 2020/by Chris

Dunlop Aircraft Tyres considering Indonesia factory

Company News, International News, Retreading

Dunlop Aircraft Tyres Ltd (DATL) is planning to invest 1 trillion rupiah (£54.14 million; 64 million euros; US$70.92 million) in an aircraft tyre retreading factory in Karawang, West Java, Indonesia. According to several local news sources, the retreading factory will be followed by a new aircraft tyre production plant as well.

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  2. Dunlop Aircraft Tyres Appoints New Finance Director
  3. Dunlop Aircraft Tyres offers Increased FOD Resistance
  4. Goodyear Aviation to Double Radial Tyre Capacity by 1Q 2011
5th December 2019/1 Comment/by Chris

Michelin now 99.64% owner of Multistrada

Company News, International News

Following a successful public offer, Michelin now holds a 99.64 per cent shareholding in Indonesian tyre maker PT Multistrada Arah Sarana TBK. After acquiring an 87.59 per cent share of Multistrada on 8 March, Michelin launched a public offer for the remaining outstanding shares, at the same price per share as previously offered. The transaction enabled Michelin to acquire an additional 12.05 per cent in the company.

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Related news:

  1. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  2. Interested parties vie to acquire Indonesian tyre maker Multistrada
  3. Michelin buys Indonesian tyre manufacturer Multistrada
  4. Data increasingly important to future prospects in tyre and mobility sectors
21st June 2019/by Stephen

Top natural rubber produces cutting exports by 240,000 tons

International News, Product News

On 6 March, the International Tripartite Rubber Council (ITRC) announced plans to reduce rubber exports by 240,000 tons for the next four months.

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Related news:

  1. Bridgestone Officially Opens Steel Cord Plant in China
  2. Chinese Auto Market Set to Boost Growth for Bridgestone
  3. Thai Port Strike Hits Rubber Shipments
  4. Chinese contingent view potential Thai rubber sources
18th March 2019/by Chris

Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand

Company News, International News

On Friday, Michelin announced its acquisition of 88 per cent of Indonesian tyre maker PT Multistrada Arah Sarana TBK (Multistrada) for US$480 million. The share purchase was completed in line with the terms announced on 22 January 2019 and after obtaining all necessary approvals. As part of the transaction, Michelin also takes on a 20 per cent stake in the tyre retail and automotive service chain PT Penta Artha Impressi, as well as 50 hectares of land.

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Related news:

  1. Michelin now 99.64% owner of Multistrada
  2. Interested parties vie to acquire Indonesian tyre maker Multistrada
  3. Michelin buys Indonesian tyre manufacturer Multistrada
  4. Data increasingly important to future prospects in tyre and mobility sectors
11th March 2019/by Stephen

Data increasingly important to future prospects in tyre and mobility sectors

Editorial/Comment, Premium, Product News, UK News

It is not unusual for the start of the year to be replete with corporate acquisitions. Some even happen while much of the western world is enjoying Christmas and new year holidays. While European FinTyre Distribution (EfTD) did indeed enact the latest move in its ongoing strategic purchasing programme during the 2018 holiday break, it seems that this year February was the month of choice for getting the chequebooks out, with Bridgestone, Michelin and – in the UK at least – Goodyear all announcing strategic spending. For different but connected reasons all three challenge us to consider the impact of changing mobility trends.

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Related news:

  1. Michelin the number one consumer researched tyre brand: Tyre Reviews
  2. Bridgestone buying Tomtom Telematics for 910 million euros
  3. Goodyear and Halfords moves represent the virtualization of the tyre distribution chain
  4. Further Firestone Recall By Ford
11th February 2019/by Chris

Michelin buys Indonesian tyre manufacturer Multistrada

Company News, International News

Michelin has agreed to buy 80 per cent of PT Multistrada Arah Sarana TBK, the Indonesia-based tyre manufacturer. With a production capacity of more than 180 thousand tons (which equates to 11 million passenger car tyres, 9 million two-wheel tyres and 250 thousand truck tyres), Multistrada generated net sales of US$281 million in 2017.

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Related news:

  1. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  2. Michelin now 99.64% owner of Multistrada
  3. Interested parties vie to acquire Indonesian tyre maker Multistrada
  4. Data increasingly important to future prospects in tyre and mobility sectors
23rd January 2019/by Chris

Interested parties vie to acquire Indonesian tyre maker Multistrada

Company News, International News

Quoting sources from the “investment banking industry,” BusinessKorea reports that “a number of global tyre companies” have shown interest in acquiring Indonesia’s second-largest tyre maker, PT Multistrada Arah Sarana Tbk. The publication names Hankook Tire and Michelin as two of the interested parties.

Read more

Related news:

  1. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  2. Michelin now 99.64% owner of Multistrada
  3. Michelin buys Indonesian tyre manufacturer Multistrada
  4. Wholesale acquisition: Hankook Tire buys Reifen Müller
19th November 2018/by Stephen

IRC Tire: Work begins on JV motorcycle tyre plant

Company News, International News

A groundbreaking ceremony took place on 1 August for the joint venture tyre plant that Indonesian tyre maker PT Gajah Tunggal is setting up with Inoue Rubber Co., Ltd., a subsidiary of Japan’s Inoac Corporation. The joint venture, known as IGM, is located in Tangerang, Indonesia and will manufacture motorcycle tyres sold under the IRC Tire brand name.

Read more

Related news:

  1. July start for Pirelli’s motorcycle tyre JV plant
  2. Gajah Tunggal Plans 15% Sales Growth in 2008
  3. Groundbreaking held for Gajah Tunggal proving ground
  4. Gajah Tunggal joins Indonesia’s LQ45 stock index
7th August 2018/by Stephen
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