Patti Renner returns to Babcox Media as editor of Tire Review. Since leaving Babcox in 1997 (former editor of Underhood Service), she owned and operated a chain of specialty retail shops, worked with small businesses on their online marketing approach, and served as VP Marketing North America for a global marketing technology company.
Balkrishna Industries Limited (BKT) announced plans to build a new plant for the production of carbon black. The new facility, located within the BKT production site at Bhuj, India, is anticipated to produce 60,000 tons of carbon black annually for the global OTR tire manufacturer.
According to the company, a $23 million (USD) investment has been earmarked for BKT’s backward integration project within their supply chain to continuously provide raw material for the increasing tire production.
LAGRANGE, Ga., July 11, 2017 /PRNewswire/ — Sentury Tire, a global advanced-technology tire manufacturer of automotive and aircraft tires, selected SSOE Group, a global project delivery firm for architecture, engineering, and construction management, to design its 1.4 million square-foot tire manufacturing facility in LaGrange, Georgia.
The new, $430 million tire manufacturing facility will serve as the North American headquarters and will be located on 400-acres about 70 miles southwest of Atlanta in the LaGrange Callaway South Industrial Park. Bringing more than 1,000 jobs to Georgia, the plant will be fully operational in 2019 with the capacity to produce 12 million units per year. In line with Sentury’s other factories, the Georgia plant will feature smart technology, advanced test track and proving grounds, research and development, as well as warehouse and distribution operations. Sentury Tire built the first industry 4.0 smart factory in China, and an additional advanced manufacturing plant recently went online in Thailand.
Bridgestone was recently honoured with a Subaru Quality-Delivery-Partnership Award, which recognizes the outstanding quality of Bridgestone original equipment tires supplied for the Subaru Outback and Subaru Impreza vehicles.
PANAMA CITY, Panama — India’s MRL Tyres Ltd. has opened a sales office in Dallas to coordinate the firm’s growing farm, OTR and industrial tire business in the U.S.
Monit Malhotra, director of the firm formerly known as Malhotra Rubbers Ltd., said the new office would become the U.S. importer of record for tires from the company’s factory in New Delhi, India, thus relieving its U.S. distributors of that responsibility.
The office has just two employees for now, Mr. Malhotra told Tire Business in a conversation at the Latin American & Caribbean Tyre Expo in Panama City, but MRL hopes to add more soon.
At the moment, the Michelin Pilot Sport 4 S tire is one of the most popular performance tires on the market, if not the very most popular. It’s combination of impressive dry performance, wet performance and braking distances make it the idea tire for any customer with a high-end performance car. Basically, if you want your sports car to drive as well as it possibly can, fit a set of Michelin Pilot Sport 4 S tires. But don’t just assume this is some marketing campaign for us.
Chinese tiremaker Wanli Tire has plans to build a manufacturing facility in Orangeburg County, S.C.
Wanli, a subsidiary of the state-owned Vanlead Group Co., plans on investing $1 billion in the next eight years during a two-phase construction process. Upon completion of its first phase, the tiremaker hopes to produce 6 million consumer tires annually.
During its second phase the tiremaker plans on developing truck tire capabilities.
YANTAI, China–Linglong is scouting potential locations in Europe for a tire plant and has attracted interest from Czech Republic, Belgium and Slovak Republic.
We take a trip to the tire maker’s state-of-the-art new factory in Hungary, which at the end of phase 1, will have a production capacity of around 5.5 million passenger car and light truck tires and 675,000 commercial vehicle tires annually. More in the July issue of TTI
Shares of tire manufacturer Cooper Tire & Rubber Co (NYSE:CTB) fell as much as 11.3% in trading Thursday after reporting earnings for the first quarter of 2017. Shares were still down 9.9% at 2:40 p.m. EDT and showed no signs of recovery.
Unit volume increased 2.9% versus a year ago, but net sales fell 1% to $643 million and net income dropped almost in half to $30.6 million, or $0.57 per share. Analysts were expecting $687.9 million in revenue and $0.74 per share in earnings.
Management pointed to a competitive pricing environment and a $50 million increase in raw material costs as the reason results were down in the quarter. These hit Cooper Tire & Rubber especially hard because it uses a last in-first out accounting method in the U.S., meaning it used high cost materials while low cost materials sit on the balance sheet.
Most of the pressures facing Cooper today are out of its control, but that’s not much consolation for investors. Management is also adjusting by raising prices, which it hopes will stem some of the pressure on the bottom line. On the bright side, international volume was strong and if that continues it should offset some of the pressure in the U.S. Long-term, Cooper is still a leading tire supplier with a profitable business long-term, so today’s dip in earnings and shares is a great buying opportunity for investors.