Report: OTR tire market to grow steadily

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Leatherhead, UK – The global market for off-the-road tires will enjoy a five-year compound annual growth rate of 4% by volume and 5.2% by value, according to a new report from Smithers Rapra.

“The Future of Off-the-Road Tires to 2022″ is Smithers’ critical analysis of the key factors shaping the global OTR tire market, the company said in a 24 July press release.

According to the report, more than 3.7 million tonnes of OTR tires will be sold worldwide in 2017, with a value of $24.8 billion…

Read the source article at European Rubber Journal

Amit Deshpande appointed as Sales Director-Africa at Cooper

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Amit Deshpande has been appointed as Sales Director for Africa at Cooper Tire and Rubber Company Europe Limited. He has over ten years of experience in the rubber industry.

In his new position, Deshpande is entrusted with supporting product development with region-wise specifications and identifying sales leads within the region.

Read the source article at Rubber Asia

Bridgestone named to two MSCI indices

Two of the newest Environment, Society and Governance (ESG) indices developed by investment research firm MSCI recognise Bridgestone Corporation for its commitment to corporate social responsibility. The tyre and rubber products manufacturer features on both the MSCI Japan ESG Select Leaders Index and the MSCI Japan Empowering Women Index (WIN).

Both indices are based on the MSCI Japan IMI Top 500 Index, a parent index, which includes large, mid and small-cap securities in the Japanese markets. The MSCI Japan ESG Select Leaders Index is designed to highlight companies with strong ESG performance. As of June 2017, 251 companies have been included in the index.

Read the source article at Tyrepress

Americans want U.S. goods, but not willing to pay more: Reuters/Ipsos poll

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…A Reuters/Ipsos poll released on Tuesday found 70 percent of Americans think it is “very important” or “somewhat important” to buy U.S.-made products.

Despite that sentiment, 37 percent said they would refuse to pay more for U.S.-made goods versus imports. Twenty six percent said they would only pay up to 5 percent more to buy American, and 21 percent capped the premium at 10 percent.

Read the source article at reuters.com

Nexen Tire and Mubadala Investment Company Sign Memorandum of Understanding

SEOUL, South KoreaJuly 19, 2017 /PRNewswire/ — Nexen Tire, a leading global tire manufacturer and Mubadala Investment Company (Mubadala), the Abu Dhabi strategic investment fund, today signed a Memorandum of Understanding to explore strategic partnership opportunities. Mubadala has made a direct investment into Nexen as part of the agreement.

Nexen Tire is one of the fastest growing companies in the automotive industry, with a compounded annual growth rate of 15% over the past ten years. The company sells 40 million tires to more than 140 countries annually, with more than 4 million tires sold throughout the Middle East.

Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala, and Travis Kang, CEO of Nexen Tire, signed the MOU in Abu Dhabi on July 19th.

Read the source article at PR Newswire

FCA, Santander – a case study in subprime

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It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017. A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide. No one is suggesting that subprime car loans will unleash the next crisis.

Read the source article at Front Page

Arkema expanding bio-based TPE production

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Paris –  Arkema SA is to increase its global production capacity for its Pebax polyamide-polyether thermoplastic elastomers (TPEs) by 50%, the French group announced 11 July.

The expansion, which is focused particularly on Arkema’s amino 11-based Pebax RNew TPEs, is part of a wider investment programme in bio-based polyamide materials.

Overall, Arkema said it plans to invest €300 million over five years in the bio-sourced nylon 11 chain to increase its global production capacity by 50%.

Read the source article at European Rubber Journal

ETRMA boss: European tire markets facing further weakness

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London – A second-quarter reversal in European replacement tire markets could set a trend for the months ahead, believes Fazilet Cinaralp, secretary general of the European Tyre and Rubber Manufacturers’ Association.

Cinaralp was commenting on ETRMA’s latest quarterly figures, which showed significant quarter-on-quarter declines in member companies’ sales – reversing a positive trend observed earlier this year.

The data, published 14 July, showed a sharp slowdown compared to the first three months of the year. The trend affected all segments, particularly consumer tires which came in 6%…

Read the source article at European Rubber Journal

NR market sentiment to improve in the near term: MRB

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Malaysian Rubber Board (MRB) has said that the Natural Rubber (NR) market sentiment is expected to improve in the near term in line with the anticipation of global economic growth. In its June 2017 NR market review, MRB stated that the physical rubber market will continue to be  influenced by rubber futures markets.

Read the source article at Rubber Asia

European tire markets could face further weakness

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LONDON—A second quarter reversal in European replacement tire markets could set a trend for the months ahead, according to Fazilet Cinaralp, secretary general of the European Tyre and Rubber Manufacturers’ Association.

Cinaralp was commenting on ETRMA’s latest quarterly figures, which showed significant quarter-on-quarter declines in member companies’ sales—reversing a positive trend observed earlier this year.

The data, published July 14, showed a sharp slowdown compared to the first three months of the year. The trend affected all segments, particularly consumer tires which came in 6 percent lower year-on-year at 46.6 million units. 

Second-quarter sales of truck tires, meanwhile, were down 1 percent on the firs

Read the source article at Rubber and Plastics News