Maxxis signals India ambitions with first tire plant


NEW DELHI (NewsRise) — Four years after it entered India, Taiwan’s Maxxis launched its first tire manufacturing plant in the country, intensifying competition in the red-hot two-wheeler market.

Maxxis, a unit of Taipei-listed Cheng Shin Rubber Industry, will initially produce tires for scooters and motorcycles at the $400-million factory in Sanand, a fast-developing auto hub in the western Indian state of Gujarat.

The plant can produce up to 20,000 tires and 40,000 tubes per day, the company said in a statement Thursday.

Read the source article at Nikkei Asian Review

Apollo Tyres empowers rubber tapper’s wives on Women’s Day


Here is the International Women’s Day gift from Apollo Tyres to rubber tapper’s wives. The company has inaugurated a Rubber Sheet Making Unit, only for women, at Vellavoor in Kottayam, Kerala on March 8, 2018. The unit was inaugurated by Adv S Jayasooryan, Vice Chairman, Rubber Board of India in the presence of the Panchayat President, Rubber Board members and the team from Apollo Tyres.

Read the source article at Rubber Asia

Apollo Tyres lays foundation stone for 7th factory


After opening its new European factory last year, Apollo Tyres is now focusing on expanding its manufacturing footprint at home. A ceremony was held today to lay the foundation stone of the tyre maker’s fifth plant in India and seventh facility worldwide. The new factory is located in Chinnapanduru, Andhra Pradesh state, and is expected to enter operation in mid-2020. Apollo Tyres is investing close to Rs 18 billion (£209.4 million) in the first phase of the new plant project.

Read the source article at Tyrepress

Apollo Tyres: Stock pick of the week: Why Apollo Tyres is ready for a re-rating


Though the quarterly numbers for the first quarter of 2017-18 were weak, analysts are hopeful that conditions will improve significantly for Apollo Tyres in the coming quarters. This is because tyre dealers have already started restocking after the first quarter of destocking triggered by the implementation of GST from July 1. 

Similar restocking pick-up in auto sales should help them in the Original Equipment Manufacturer (OEM) sales as well. Replacement demand (69% of industry’s ..

Read the source article at The Economic Times

Global tire rankings: Bridgestone reigns supreme again


AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.

Read the source article at Tire Business

Tire makers commit more than $7.3B on new plants, expansions


AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.

The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.

Read the source article at Tire Business

India likely to impose duties on Chinese truck tires


LONDON — India’s antidumping body has established that the country’s tire manufacturers are being “injured” by imports from China and may impose antidumping duties of more than $450 per metric ton of pneumatic radial tires with rim sizes above 16 inches used on buses, lorries and trucks.

In a ruling published Aug. 1, the Indian commerce ministry’s investigation arm — Directorate General of Anti-dumping and Allied Sduties (DGAD) — concluded that domestic companies had suffered material injury due to the dumped imports of these tires from China.

Read the source article at Tire Business

Apollo Q1 earnings sink, sales off slightly


Gurgaon, India –  Apollo Tyres Ltd. suffered double-digit declines in operating and net income for the quarter ended June 30 on a slight dip in sales.

Apollo’s operating income for the fiscal 2018 first quarter fell 50.3% to $43.8 million on a 1-percent dip in sales to $505.9 million. Net income slid 72% to $13.7 million.

Read the source article at European Rubber Journal

Mahindra & Mahindra names Apollo Tyres its ‘Business Partner of the Year’


Major Indian vehicle manufacturer Mahindra & Mahindra bestowed its ‘Business Partner of the Year’ award upon Apollo Tyres at its recent annual suppliers meeting. The award, the highest recognition given to any supplier for overall outstanding performance during the entire financial year, was accepted by Satish Sharma, Apollo Tyres’ Asia Pacific, Middle East & Africa region president, and Sandeep Mathur, the tyre maker’s head of OEM and Institutional Business.

Read the source article at Tyrepress

Resistance-to-change, skills-gap blocking ‘tire industry 4.0’


Cologne, Germany – Resistance to change has been identified as a major barrier to the adoption of new automation systems and technologies in tire-manufacture, industry leaders said at the Future Tire Conference, held 27-28 June in Cologne.


Read the source article at European Rubber Journal