The United States International Trade Commission (USITC) has determined that passenger vehicle and light truck (PLT) tyres imported from Korea, Taiwan, and Thailand are being sold in the USA at prices that materially injure the local tyre industry. In addition, the U.S. Department of Commerce has determined that Vietnam’s government is subsidising PLT tyres that are then sold in the USA at “less than fair value.”
Anti-dumping duties as high as 98% may be applied to passenger vehicle and light truck tyres entering the USA from South Korea, Taiwan, Thailand and Vietnam. The U.S. Department of Commerce announced on 30 December that it will instruct U.S. Customs and Border Protection to collect cash deposits from importers of these products.
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).
Taiwan-based China Synthetic Rubber is considering investing 10 billion rupees (126 million euros; £110.9 million; US$146.8 million) in a carbon black manufacturing facility in Gujarat, India. According to the Financial Express, the company has identified potential locations in the chemicals and petrochemicals investment region for the proposed project.
Taiwan-based tyre manufacturer Kenda has purchased Starco Europe. Announced on 2 October, the move is described by Kenda as “a good cultural, organizational and strategic fit” for which both companies see “significant long-term opportunities”. Kenda has been a Starco supplier since 1982. Over the last 12 months a series of meetings determined a clear willingness from both Kenda and Starco to take the partnership to another level. Starco does not plan any organizational changes or redundancies related to the acquisition.
Federal Corporation reports that production at its main factory in Chungli, Taiwan has been halted due to a fire at the site on 17 January. Warehouse facilities were damaged during the blaze, however the Chungli plant’s manufacturing facilities were unaffected and Federal confirms there were no casualties.
The leading Taiwanese tyre manufactures are reportedly planning to raise prices by between 8-12 per cent during 2017. According to local news reports, the price hike is a reaction to the jump in synthetic rubber and natural rubber prices.
Interstate Tire & Rubber Co. has expanded its winter tyre product offering with the addition of over 100 new sizes and the release of three new product lines. According to the company, the total winter tyre range offers now 12 different lines with over 310 unique sizes.
German magazine Auto Bild Allrad has published a summer tyre test for compact SUVs. Ten size 235/55 R17H/V/W tyres were tested on a VW Tiguan, and what sets this test apart from others is that all candidates come from either the People’s Republic of China or Taiwan. While all tested tyres delivered performance below the Continental CrossContact UHP reference tyre, the Goodride SA-37 Sport, Infinity Enviro, Delinte Thunder D7, Sonar SX-9, Star Performer SUV-1 and Nankang NK Comfort NK 605 were all rated ‘satisfactory’.
Interstate Tires has confirmed that it is offering a “complete range” of tyres produced in Taiwan. As of February 2015, over 110 passenger and SUV tyres are now available from the Taiwan factory. According to Interstate representatives, there is now growing demand for “made in taiwan” tyres and there is growing number of tyre distributors […]
At a ceremony attended by local government officials, senior management and international customers, last month Federal Tyres formally broke ground on its third tyre plant in Taiwan. The new facility is being erected on a 14,000 square metre site in the Taoyuan Industrial Park, and the NT$8.1 billion (£166.7 million) investment will be completed in two phases between 2014 and 2020; once the plant is fully operational, it will create 836 jobs and produce an estimated maximum of six million tyres a year.
According to various Taiwanese media sources, an assistant manager employed by Nankang Rubber Tire Corp. Ltd. has been arrested along with his wife on suspicion of receiving illegal rebates from the tyre maker’s suppliers. The arrested man has been identified by the surname ‘Chen’, and police are said to have taken custody of NT$230 million (£4.5 million) in cash plus remittances found in his home and office in Hsinchu City. The arrest was made on 16 July.
Taiwanese manufacturer Federal marked its 60th anniversary with a gala party held in the Philharmonie Essen RWE Pavillon. Featuring its product range and long-serving and popular mascot Feddi at its Reifen 2014 stand, Federal’s diamond jubilee was described by chairman Jamie Ma as “just the beginning” in a speech given to business partners at the evening event.
Cheng Shin Rubber Ind. Co. Ltd. (the parent company of Maxxis International) is investing over US$500 million in building new plants in Indonesia and Taiwan as well as expanding three existing plants in China.
Maxxis held its ground at number nine in the annual Tyres & Accessories ranking of key global tyre industry companies, with its 2013 financial results showing consistency with 2012. The Taiwan based manufacturer reported small increases in sales, from $4.63 billion in 2012 to $4.77 billion in 2014, with net profit remaining at around 14 per cent. Maxxis International managing director Derek McMartin said that the company considers its results “a great achievement” given the continuing volatile market situation.
Maxxis International