Yokohama to More Than Double Philippines Plant Capacity
Yokohama Rubber said it plans to invest 50 billion yen to increase Yokohama Tire Philippines Inc.’s (YTPI) yearly production capacity from 7 million to 17 million tires. The company has signed a contract with Clark Development Corp. to lease 300,000 square meters adjacent to its Philippines plant. The expansion will create 3,000 additional jobs. At
Nokian Launches New WR Winter Tire Line
Nokian Tyres has introduced a new winter tire line the company said offers a "combination of safety and carefree driving pleasure."
New Logistics Center in China For TGI
Tire Group International (TGI) has opened a new logistics office in Xiamen, China. The location will be overseen by Emma Luo, who comes to TGI with experience in international freight forwarding and logistics operations, having spent 7 years with Schenker & Bax Global logistics, the company said. “I know Emma will bring us a more
Chinese Tiremakers Struggle as Rubber Costs Climb
The rising cost of rubber is putting pressure on Chinese tire producers, which have seen declining profits for most of the last 12 months. Net profits of Wuxi Boton Belt Co., a rubber product manufacturer, totaled $6.70 million in 2010, a drop of 8.5% over the previous year, the company said Friday in a filing
Federal Taking Double-Digit Increase
Federal Tire Corp. has announced that it is raising prices of its passenger and light truck tires by up to 12% with "in-line adjustments for all onward orders and remaining back orders." According to a statement, the price increases take effect on March 1. (Tyres & Accessories)
NR Pricing Pushes Apollo Results Down
During the most recent quarter, turnover at Apollo Tyres increased by just 3.2% to Rs 23.68 billion, modest growth that has been in line with growth throughout the first nine months of the current financial year. During the nine months to the end of last year, the company achieved net sales of Rs 61.38 billion,
Sales, Earnings Up at Sumitomo
Sumitomo Rubber Industries registered 2010 sales of 348 billion yen, up nearly 42% vs. 2009 results. The company reported that it managed a net profit of 14.3 billion yen for the year.
Apollo Eyes New Plant, Possible Plantation Buy
According to a number of media reports, Apollo Tyres plans to build a greenfield tire in Eastern Europe within the next few years. "We are looking for a facility in Eastern Europe. It is only in the nascent stage right now," Apollo Tyres Chairman Onkar Kanwar said. "We are looking at geographies such as Eastern
Michelin Eyes Acquisitions to Continue Growth Push
After posting strong sales and net profit numbers of 2010, Groupe Michelin’s boss-to-be has set the company’s sights on possible acquisitions.Jean-Dominique Senard, named to become Michelin’s managing partner, said: “We’ve paid down our debt by half and our profits have rebounded from the severe 2009 economic downturn. We’re ready to move in Asia by takeover
Dealers, Drivers Need to Think of TPMS in Winter Tire Changeovers
It hasn’t been a typical winter. Snowstorms have been relentless. A blizzard affected one’third of the U.S., dumping two feet of the white stuff on Chicago and New York City. Even the Super Bowl wasn’t spared, providing a dramatic scene of maintenance crews shoveling the Cowboys Stadium retractable dome. Punxsutawney Phil predicted an early spring