BKT Aims For Off-Road Segment Leadership
It’s now more than 15 years since Balkrishna Industries Ltd., or BKT, wound up its two-wheeler, car and truck tire business in favor of a focus on off-road tires. This "place every egg in one basket" decision was a major step for the then-seven-year-old company, yet it is one the Indian manufacturer has never regretted.
Americas Vital to Pirelli, Results Show
In an international telephone press conference yesterday, Pirelli SpA discussed its 2010 sales results in North and South America. Pirelli chairman and CEO Marco Tronchetti Provera and Pirelli Tyre CEO Francesco Gori were on hand for the conference. The Pirelli officials said the company experienced a 25% rise in sales in the U.S., Canada and
New TRIB MD Talks About Plans, Members and Association’s Role
Only David Stevens knows if he was prepared to step in as the new managing director of the Tire Retread & Repair Information Bureau, a post he took over last November following the unpopular dismissal of the well-known and respected Harvey Brodsky. Certainly the 42-year-old should not have been the focus of those unhappy about
Aeolus Sees 50% Fall in Profits
China’s Aeolus Tyre posted a 50.77% year-on-year drop in 2010 net profit to 153 million yuan, business news wires have reported, citing company filings. Earnings per share are said to have fallen 50.79% to 0.41 yuan per share. The good news was that sales revenue rose 44.45% year-on-year to 8.12 billion yuan. However, this also
Thailand Wants to Prop Up Rubber Prices
According to news published on the Association of Natural Rubber Producing Countries’ website, Thailand’s government intends to intervene in its domestic natural rubber market and support prices following their recent fall. The country’s deputy prime minister Suthep Thaugsuban is quoted as saying "we will meet exporters very soon. We need to do something to support
Carbon Black Prices Going Up
Evonik Carbon Black GmbH, a subsidiary of Evonik Industries, is increasing prices for carbon black and carbon black preparations by up to 200 euros per ton for deliveries around the world. The price increase will be effective for all deliveries on or after April 1. (Tyres & Accessories)
High NR Delivers Losses for China Tiremakers
News of falling rubber prices should be welcomed by China-based tiremakers as the Shanghai-based Oriental Morning Post reports that 50% of them have recorded losses for 2010 thanks to continued high natural rubber prices. Most Chinese manufacturers have responded to recent high raw material costs with price increases. The China Rubber Industry Association notes that
Assessing the Damage from Devastated Japan
The world was transfixed this past weekend with information and images from Japan, a country devastated by a record earthquake and tsunami that literally leveled everything in its path for miles. Power outages and other obvious challenges have made it quite difficult to get information about specific individuals and companies, even for the U.S. subsidiaries
Report: Icahn Looking to Unload Share of Federal-Mogul
Mogul investor Carl Icahn is considering selling his huge stake in vehicle parts maker Federal-Mogul Corp., according to reports.Icahn owns a 76% stake in Federal-Mogul and is non-executive chairman of the board. Reports say he is feeling out potential buyers, and that he has retained Lazard Ltd. to provide assistance. Based in Southfield, Mich., Federal-Mogul
Natural Rubber Prices Declining: Report
A March 11 report from DB Equity Research Automotive observes that the cost of "certain key raw materials" used by tire manufacturers have begun to decline.The Deutsche Bank equity research team states: “Most notably, we estimate that natural rubber prices have declined by 9% since last Friday…and rubber has declined by approximately 15% (from the