Thailand’s auto sector, Southeast Asia’s biggest, has fired more than 30,000 subcontracted workers this year and slashed production, as sales plunge after months of political unrest that threatens to drive some manufacturers offshore. The lay-offs are the latest sign that…
Category: Industry News
STARCO extends solid rubber tyre plant in Sri Lanka
STARCO Europe A/S is expanding its solid rubber tyre plant in Sri Lanka, to help meet rising demand for its Tusker and Unicorn forklift tyre lines. STARCO did not disclose the scale of expansion or investment, but said the project…
Cambodia rubber exports rise, yet prices fall
Despite a large increase in exports during the first quarter, natural rubber producers continue to see declining revenues, as world prices fall further. The latest figures from the Ministry of Commerce show natural rubber exports grew 26 per cent during…
BKT reveals off-highway tyres at Reifen trade show
Balkrishna Industries Ltd (BKT) will exhibit a large number of off-highway tyres, some for the first time, at the upcoming Reifen 2014 International Trade Fair. The show will be held May 27-30 in Essen, Germany. The radial tyre Agrimax Force…
Rubber makers in Asia has insufficient funds to support prices
The world’s biggest rubber producing region has insufficient funds to intervene in the market to stem a price slide that has pushed rubber futures to multi-year lows, Asian officials and traders said. Tokyo rubber futures have plunged more than 25…
GT Radial unveils new commercial vehicle tyres
GT Radial’s latest commercial tyre all-rounder will receive its European show debut at Reifen 2014, with two new products to be unveiled. The GSR225 Combi Road multi-usage tyre has specially developed tread and base compounds to improve mileage and a…
Toyo reports operating income increase in Q1
Toyo Tire & Rubber Co. Ltd. recorded net income of nearly 9.1 billion yen on net sales of 96 billion yen for its first quarter ended March 31, 2014. That compares to income of 4.2 billion yen on sales of…
Lanxess partners with Ram Charan to assist Indian rubber market
The German specialty chemicals company, Lanxess, has taken a novel initiative towards innovation in partnership with its leading distributor for rubber businesses, Ram Charan Co Pvt Ltd, which is a strategic business partner to leading manufacturers in rubber, plastics, inks…
UAE tyre market reports progress
Amidst ongoing global economic scenario, the UAE automotive market is perceived as a market for ‘profit consolidation’, given the low yields from the European automotive sector. Furthermore, favorable government regulations, logistics infrastructure and real estate growth are boosting the UAE…
Hankook announces robust sales in Q1
Hankook Tire, the leading and one of the fastest growing tyre companies in the world, today announced its financial results for the first quarter 2014 with robust global consolidated sales of KRW 1.67 trillion and operating profit of KRW 260.1…