Kanwar: Apollo Will Not Close Any Tire Plants
Apollo Tyres joint chairman Neeraj Kanwar has spoken out in support of keeping and even expanding Apollo and Cooper’s existing manufacturing sites.
Apollo-Cooper Update: No Cooper Production in India
It appears Apollo is not planning to shift any Cooper tire production to its factories in India; the existence of Cooper production sites in low production cost countries makes such a move unnecessary.
F1 Slaps Wrists in Mercedes-Pirelli Test Dust-Up
Mercedes and Pirelli have been reprimanded for their roles in the controversial Formula One tire test in Barcelona, which followed the pit stop-heavy action of the Spanish grand prix.
Apollo-Cooper Update: Investor Sues Over Offer Price
Cooper Tire & Rubber Co. has been sued by one of its investors in a bid to block the company’s $2.5 billion takeover by Apollo Tyres Ltd. The Booth Family Trust, according to Bloomberg, claims Apollo’s $35 per share offer wasn’t high enough. At least three law firms have been publicly trolling for other disgruntled
Brazil Investigating Tire Dumping Claims
In late May, Brazilian tire industry association ANIP (Associacao Nacional da Industria de Pneumaticos) reported that the country’s tire production only increased 4% during the first four months of 2013, despite a year-on-year growth of 17% within the automotive industry between January and April. ANIP blamed this growth incongruence on increased tire imports, prompting association
Apollo to Distribute Cooper Range in India
One result of Apollo Tyres’ acquisition of Cooper Tire & Rubber is that the U.S. brand will be distributed in India, to both OE customers and the replacement market. News regarding this was initially published by The Hindu Business Line on June 19; the Indian financial daily wrote that the first Cooper products to arrive
Titan-Led Consortium Buys Controlling Stake in Russian Tiremaker
Titan International Inc., the Russian Direct Investment Fund (RDIF), One Equity Partners LLC and Russian tire producer Cordiant have reached an agreement with to invest in Voltyre-Prom, a Russian agricultural and industrial tire manufacturer. The consortium – with Titan International as the managing partner – will own a controlling stake in Voltyre-Prom. The consortium’s investment
Is Cheng Shin Up for Another China Tire Plant?
Taiwanese tiremaker Cheng Shin Rubber Co. is reported to be considering building its seventh plant in China. On June 19, the Taipei Times printed comments made to this effect by company vice president Wu Hsuan-miao following Cheng Shin’s annual general meeting the previous day. "We will come up with a concrete plan on the construction
Kumho Now Including RFID Tags in All Tires
Kumho Tire Co. has announced a global first: it will place radio-frequency identification (RFID) tags on all tire products it manufactures.
Michelin Creates Synthetic Rubber JV in Indonesia
A deal between Groupe Michelin and PT Petrokimia Butadiene Indonesia will see production of styrene- and butadiene-derived synthetic rubber taking place in Indonesia.
Lanxess Ups Tire Chemical Prices
Prices for Lanxess’ Vulkanox (antidegradant) and Vulkacit (accelerator) rubber chemicals, two products used in tire manufacture, will increase as of July 1. Lanxess says the new pricing is required to offset higher production costs. The price increases will range between 0.05 euro/kg and 0.20 Euro/kg ($0.10 and $0.30), depending on the product and region. (Tyres
Report: Michelin to Build New Tire Plant in Serbia
Based on its cutback plans, France may not be a hot spot for Groupe Michelin tire production, but Serbia apparently is. The French tiremaker announced plans to build a new tire plant in Pirot, Serbia, near an existing Tigar plant the tiremaker already owns and operates. New plant is said to employ about 700 workers,