Caterpillar Optimistic for New Year
Caterpillar Inc. and other big manufacturers, feeling more upbeat about the global economic outlook, are promising further gains in earnings this year amid growing confidence that Europe’s financial woes won’t tip the world into another slump.The debt-repayment trouble in Greece, Italy and other southern European countries “has been going on a long time and hasn’t tanked the place,” Doug Oberhelman, chief executive officer of Caterpillar, told investors Thursday after it reported a 60% leap in fourth-quarter earnings. “We don’t think it will.”As the world’s largest maker of construction and mining equipment, Caterpillar is widely viewed as an economic bellwether. Read More
World Mining Equipment Market
World demand to rise 8.5% annually through 2015The world market for mining equipment is projected to climb 8.5 percent annually through 2015 to $92 billion. Demand will be stimulated by an increase in mining output growth as global manufacturing activity and construction expenditures accelerate in a generally favorable economic climate. Commodity prices are also expected to remain high by historical standards, contributing to a rise in resource exploration and development activity, and associated mining machinery sales. In addition, efforts to increase mechanization of mining operations in the huge Chinese market and boost productivity in high labor cost areas such as Australia and Canada will bolster overall equipment demand. Read More
Michelin’s Earthmover Tires Net Praise From Construction Magazine
Michelin has won two 2011 “Top 100” awards from Construction Equipment magazine for its XDR2 and XHA2 earthmover tires.
“Construction Equipment is a well- respected, top publication in the construction industry,” says Bruce Besancon, director of marketing for Michelin Earthmover Tires. “Recognizing the XDR2 and XHA2 tires with these awards affirms the value that these tires provide to the end user.” Read More
Caterpillar Profit Beats Estimates as Mining Demand Rises
Jan. 26 (Bloomberg) — Caterpillar Inc., the largest construction and mining-equipment maker, posted fourth-quarter earnings and forecast full-year profit forecast that topped analysts’ estimates as demand rose for shovels and trucks.The company is betting on further growth in the mining industry with its acquisition of Bucyrus International Inc. in July for $8.8 billion including debt, which added shovels and drills to its product range. Caterpillar also agreed in November to buy Hong Kong-based ERA Mining Machinery Ltd. for as much as HK$6.89 billion ($890 million). Read More
Mining Trucks: Hitachi
Hitachi Tata J/V makes large trucks in India
TOKYO, Jan 25 (AsiaPulse) – Hitachi Construction Machinery Co. has begun Indian production of huge dump trucks used in large-scale mine development projects.Telco Construction Equipment Co. (Telcon), a joint venture with Tata Motors Ltd. (BSE:500570), is manufacturing the trucks. Hitachi Construction invested 22 billion yen (US$283 million) in the venture in 2010 to increase its equity stake. Until now, Telcon has made 35-ton dump trucks at a plant in the state of West Bengal, and will now add 100-ton mining trucks to its product mix. Read More
Mining drives heavy equipment sales growth in 2011
Australia’s construction and mining equipment market continued its rise from the doldrums of the GFC, driven by mining sector demand for heavy equipment.
Titan signs $100 million tire deal with Caterpillar
Titan Tire Corp. has signed a multi-year OTR tire supply contract with Caterpillar Inc. The three-year agreement begins this year.The value of the contract in today’s dollars is expected to exceed a minimum of $100 million.Read More
OTR Tire Conference Hotel Extends Deadline
TIA has arranged an extension for hotel reservations for its upcoming OTR tire conference in Rancho Mirage, California. The base hotel for the event is full, and overflow registrations are for the Augua Caliente Casino Resort Spa. Read More
Biggest Rubber Glut Since 2004 Offers Respite to Bridgestone: Commodities
Rubber plantations from Indonesia to Ivory Coast will tap a global crop this year that will create the biggest glut since at least 2004, cutting costs for Bridgestone Corp. (5108), Michelin & Cie. and other tiremakers.
The market will switch to a 413,000-metric-ton surplus, from an 87,000-ton shortage in 2011 that helped drive rubber to a record in February, Goldman Sachs Group Inc. (GS) estimates. Prices fell since then on prospects for more supply and slower growth in China, the largest consumer. Futures will drop as much as 12 percent to 240 yen ($3.12) a kilogram (2.2 pounds) in Tokyo this year, the lowest since November 2009, the median estimate in a Bloomberg survey of 14 analysts and traders shows. Read More
Bridgestone Boosting OTR Tire Capacity
November 15, 2011
Production of small and medium-size OTR radials for contstruction and mining vehicles will be increased at Bridgestone Corp.s Hofu plant in Japan over the next couple of years in order to meet steady global growth in demand. Read More
Supply and Demand Remains Pivotal forMining Tyre Prices
Michelin’s Jock Aitken told T&A he expects demand for original equipment OTR tyres to be “huge”, with shortages remaining within the sector over the next three to four years. Bridgestone UK’s OTR sector product manager Barry Coleman shared with T&A that demand within the mining sector is very strong at present and “Bridgestone is producing at full capacity in terms of tyre supply on a global level and our supply across the whole EM product line is only limited by the number of tyres we can produce.” This is a condition, he added, that is shared by all major competitors. Read More
New Shearography Equipment: Non Destructive Testing for 53/80R53 Giant Mining Tyres
The latest Earthmover / OTR tyre sector product from Steinbichler Optotechnik is the Intact 4300 tyre shearography machine. This unit machine is designed for the non-destructive testing of giant OTR tyres with an inner diameter between 45 and 63-inches, a width of 550 to 1550 mm and a maximum weight of 7500 kilograms. This most recent addition to the Intact series can clearly detect non-visible separation in the bead, sidewall and tread area within 20 minutes, enabling the easy identification of areas where belt separation has occurred. The first Intact 4300 is already in service with Togliatti, Russia-based company Povolzhskaya Shinnaya Kompaniya, the German manufacturer reports. Read More
Rubber price to remain strong: DBS Vickers
Natural rubber prices are expected to remain strong with the Technically Specified Rubber 20 (TSR20) grade being maintained at an average of US$4,251 per tonne next year and US$4,157 per tonne in 2013.The rubber grade currently fetches US$4,200 per tonne.DBS Vickers Research (Singapore) Pte Ltd, in its regional rubber research note today said, the strong price is due to growing automotive demand from emerging countries and tight supply. Read More
Mining Boom Makes Truck Tires Pricier Than Porsches, Condominiums in Miami
China’s insatiable demand for commodities has prompted a tripling in the price of mining truck tires, making them more expensive than a Porsche 911 Carrera S type or a condominium in Miami.Prices for tires about 3.5 meters (11 feet) across, used on the Caterpillar Inc. trucks that haul iron ore and coal, have touched $100,000 on the spot market, according to Leighton Holdings Ltd. (LEI), a contractor for mining companies including BHP Billiton Ltd. (BHP) and Anglo American Ltd. Prices rose as high as $150,000 in 2008.That compares with contract prices of about $30,000, according to Roesler Tyre Innovators GmbH, which retreads so- called off-the-road tires. Demand from China, the world’s biggest metals buyer, drove copper, iron ore, gold and coal to records this year, forcing companies to compete for the equipment and labor needed to mine them.“We fear the situation will become as tight
WSJ: Caterpillar Expects New Rival To Emerge From China
GOSSELIES, Belgium (Dow Jones)–Caterpillar Inc. (CAT) expects a new rival in the heavy-machinery sector to come out of China “in the next few years,” said Doug Oberhelman, its chief executive.”There are all these companies [in China], and there’s consolidation happening, and you just know that one or two will emerge as a serious rival,” he said in an interview Wednesday at the U.S.-based company’s sprawling factory here in southern Belgium.Currently, Caterpillar’s main competitors in the market for construction and mining equipment are Volvo AB of Sweden and Komatsu Ltd. of Japan.The prospect of China’s emergence as a threat in a market Caterpillar has dominated for so long is a big reason why Mr. Oberhelman, a former economist who took over the Peoria, Ill., company last July, has become one of the rare CEOs who still campaigns hard for international-trade deals.
Mining sector demand driving Bridgestone’s off-road business
product supply in the EM tyre sector is presently restricted by global production capacities. While this applies to many manufacturers, Bridgestone’s global customers are also facing supply issues in the wake of the March 11 earthquake and tsunami in Japan. All Bridgestone OTR/EM tyres sold in the UK are manufactured in Japan. The tyre maker produces these in three factories – Shimonoseki, Hofu and Kitakyushu. The last of these was opened only two years ago and has been earmarked for capacity expansion to meet global demand for large and ultra-large off-road mining and construction radials. While none of the three plants are located in hard-hit regions of Japan and no damage was reported, rolling power cuts are still an issue affecting production. Mr. Coleman adds that further pressure on availability is coming from the huge demand for off-road tyres within Japan due to the rebuilding projects currently underway in earthquake and tsunami-affected regions. Read More
Natural rubber prices tumble, follow global market cues
June 28, 2011
Natural rubber (NR) prices tumbled heavily on Monday, mainly on account of the sharp fall in prices in the overseas markets. The market of RSS-4, the Indian bench mark grade, on Monday quoted Rs 210 a kg, lower by Rs 6 from last week’s closing rate.
MINING equipment supplier WesTrac has warned of a looming tyre shortage
Speaking at a Melbourne Mining Club lunch yesterday, WesTrac managing director Jim Walker said mining companies should brace for a shortage of the tyres … in the new year.In the middle of the previous mining boom, a demand-fuelled tyre shortage slowed some mine expansions and crimped supply, contributing to booming commodity prices before tyre makers were able to boost capacity and catch up to demand.”The tyre companies are saying 2012 will be back to what it was before,” Mr Walker said.”We’re not there yet but we’re all looking at what’s going to happen in early 2012 with tyres.”Growing demand for trucks for multi-billion-dollar expansions, such as those planned by Rio Tinto, BHP Billiton and Fortescue Metals Group…
Apollo Tyres plans global push to drive into top 10
Apollo Tyres is planning big. Having grown into a $2-billion company in 35 years since inception in 1976, India’s largest tyre maker now plans to grow three times to $6 billion in the next five years. The aim is to break into the global top 10 tyre companies. Apollo is reportedly ranked seventeenth now.A bigger export plan is under implementation in Indonesia. Apart from the general demand for BIAS tyres and truck radials, the concentration of opencast mining activity offers a lucrative market opportunity for high tonnage (and high value) off-the-road (OTR) tyre market.“We are manufacturing 51” – 57” high tonnage OTRs in India for exports to Indonesia. There is little market space for such products in India,” Mr Sharma told Business Line adding that two such consignments were exported to the archipelago.
Caterpillar can’t make mining trucks fast enough.
DECATUR – Caterpillar Inc. is jamming its mining truck production pedal to the metal and yet it still can’t make them fast enough to satisfy world demand.Speaking to analysts in New York, Caterpillar officials said the first quarter of 2011 had been its best ever with an operating profit of more than $1.8 billion on sales and revenues of $12.9 billion for the quarter. And yet the numbers could be even better, the company said, if factories like the Decatur plant, which makes the world’s biggest mining trucks, were able to build the giant machines at a faster rate. Read More
Cat Boss Sees Tire Shortage Looming
April, 8, 2011
The chief of Caterpillar’s global mining group expects a “serious tire shortage” in that sector by the end of 2011, according to a new Reuters report.Caterpillar Global Mining President Chris Curfman, speaking to Reuters during a copper mining conference in Chile, said, “By the end of this year, or early next year, we will be in a potentially serious tire shortage situation. There is a lot of truck demand, a lot of big tractor demand. Lead times are stretching out now and we are seeing some supply chain issues.”Curfman suggested the shortage could mimic the tire plight six years ago, when Caterpillar and other equipment makers were caught by fast rising tire demand that choked off OE supplies. That led to significant equipment and tire delays even as demand was increasing.
Demand Pushes Nokian to Second Russia Plant
At the company’s annual general meeting today, Nokian Tyres president and CEO Kim Gran will share plans about the construction of a second factory in Russia. This new plant will be erected alongside Nokian’s existing plant in Vsevolozhsk.“Market outlook has strengthened clearly and we need more production capacity,” reported Gran in a statement prior to the meeting. “We, together with the local authorities, are preparing a new plant next to the current one, which will increase our annual car tire capacity by five to six million tires. Negotiations about tax relieves and infrastructure investments are in their final stage.”
Natural rubber jumps to Rs 240/kg on strong global cues
New Delhi, Apr 4 Natural rubber prices on Monday jumped by Rs 7 to Rs 240 per kg in the domestic spot markets, largely on the back of strong global cues.Natural rubber prices were ruling at Rs 233 per kg on April 2 in the domestic physical markets, Rubber Board data said.“Natural rubber prices have been rising in the international physical and futures markets due to news of floods and mudslides in Thailand, which will affect the rubber supply in the markets,” said Mr George Valy, President, Indian Rubber Dealers Federation.According to experts, natural rubber exports from Thailand, the world’s biggest rubber exporter, may come down because mudslides have devastated rubber plantation areas and a forecast of further heavy rain.
Commodity price index climbs to new high
The Reserve Bank of Australia’s index of commodity prices rose 0.6 per cent in March from February, reaching yet another record high as prices for crude oil, coal and gold climbed.That followed a downwardly revised increase of 1.4 per cent in February. The index was up a massive 41 per cent in special drawing right (SDR) terms, compared with March last year. The index reading of 134.2 far surpassed the 2008 peak of 119.5.In Australian dollar terms, the index rose by 1.6 per cent in March and was up 32 per cent for the year. The index also hit a record high in US dollar terms, to be up 46 per cent on March last year.Advertisement: Story continues below The largest contributor to the rise in March were increases in the estimated prices of coking coal, coupled with gains in the price of crude oil and gold.
Indonesia rubber exports to Japan seen falling
Michelin to raise prices on earthmover tires
April 01, 2011
Effective May 1, 2011, Michelin North America Inc. is increasing prices on Michelin brand earthmover replacement tires sold in the United States and Mexico by up to 8%.The company is citing increasing raw material prices as the reason for the price hike.Michelin is the latest tire manufacturer to increase tire prices. Here is a rundown.
Danger lurks: OTR tire wheel lock rings can be death trap
The director of Klinge & Co. Pty. Ltd. in Spring Hill, Australia, wants to eliminate what he said he believes are needless deaths occurring worldwide each year among those working with OTR tires.Five OTR tire service workers and technicians died worldwide in 2010, according to Mr. Klinge’s presentation to attendees of the Tire Industry Association’s Off-the-Road Conference at the Doral Golf Resort & Spa in late February. That, he indicated, was on top of nine killed in 2009, five more in 2008 and one so far this year. Read MoreSkilled labour shortage hurts mining
March 29, 2011Top North American miners of gold, copper and iron ore say that a sudden ramp-up of mining projects has begun to squeeze labour and equipment and before long will slow or delay projects.Executives at the Mining and Steel Summit said skilled labour, especially geologists and mining engineers, were hard to come by and lead times on heavy equipment have been stretched out for weeks or months.
While none said their current plans were being stalled by shortages -the largest miners have lengthy planning processes and lucrative compensation packages to keep top talent -but the day was not long off when projects would feel the crunch.
“If you add up all of the projects people want to bring on line, there are not enough qualified workers to make it happen,” said Laurie Brlas, chief financial officer for iron ore miner Cliffs Natural Resources, adding, “You are seeing that everywhere. We are definitely seeing it.”
Metal prices have advanced to either record or long-term highs since the start of the year, impelling miners to restart idled mines, expand current projects or develop new ones.
Farmers urged to order tyres now due to shortage
Farmers are being warned to prepare for higher tyre costs and to order early due to high raw material prices and a rapidly increasing demand from machinery manufacturers.The tyre industry is being faced with two issues, according to managing director of Trelleborg, John Westwood. “The original equipment demand has rocketed and it’s way ahead of what was predicted. Added to this is the fact that the price of rubber rose by 94% between January 2010 and January 2011. Nearly 42% of this rise was between November 2010 and January 2011.”Part of the problem was a poor natural rubber harvest, although perhaps more influential was a sharp increase in manufacturing both in Europe and worldwide and in particular in China. Read More
TIA to hold 2012-13 OTR events in Calif., Puerto Rico
Global Resources Spending Soars
December 15, 2010
Belarusian tire-maker Belshina is currently redeveloping its on- and off-road businesses. A 32.6 million euro upgrade of passenger tire production facilities is close to completion, the company reports.Off-road tire projects include plans to increase agricultural tire production by 35,900 units a year through the replacement of obsolete plant equipment. In particular, Belshina intends to purchase to agricultural radial assembly units with interchangeable tooling, one for the production of 28- to 34-inch tires and the other for 38- to 42-inch tires. New vulcanization equipment will also be installed. Read More
Rubber Prices Continue Upward Climb
Even as tire makers pull the trigger on price hikes in an effort to not fall too far behind fast-rising raw material costs, more bad news comes from the natural rubber market.Dec. 13-14 saw NR post record prices on the Tokyo Commodity Exchange, jumping 1.2% to 400.1 yen per kilogram for May delivery rubber.All in all, NR prices have increased a whopping 44% this year. Read More
Global Resources Spending Soars
OTR tires in 2011
Caterpillar Leaps to the Top of Mining Equipment
Caterpillar Hikes Dividend
June 10, 2010
Caterpillar Inc. (CAT – Analyst Report) upped its quarterly dividend by 2 cents to 44 cents in light of increased demand for its equipment and intent to boost shareholder value. This translates to a 5% increase from the prior dividend of 42 cents. The increased dividend will be paid on August 20, 2010, to stockholders of record on July 20, 2010. The shareholders will now enjoy a new dividend yield of 3.1%.
Yokohama rolls out new OTR tires
June 10, 2010
Yokohama Tire Corp. has introduced two OTR tires, the RL42 and the RB42, which are designed for dump trucks but have two different applications.
The RL42 is for hard-packed surfaces and job sites where longer hauls are needed, while the RB42 is made for soft and/or loose surfaces like mud, sand, gravel and rocks.
Apollo Tyres Planning China Expansion
June 10, 2010
Apollo Tyres is reportedly working on a strategy to enter China, currently the world’s largest tyre producing and exporting market. If Apollo is successful in this venture it would be the first Indian tyre manufaturing company to establish a permanent production presence in China. “We aim to be a global tyre producer with footprints in all corners of the world,” Onkar Kanwar, Apollo Tyres’ chairman, said at the launch of the brand in Europe, adding: “Only China is out of bounds right now but we will chart a strategy to be present there as well, through either a joint venture or a contract manufacturing arrangement.“..
Rubber prices stabilise as tyre firms defer purchases
June 10, 2010
The price of natural rubber has stabilised in the domestic market on steady arrivals and subdued demand.
Several of the small scale rubber-based industries have shut shop temporarily or permanently as they find iteconomically unviable to operate at the existing high raw material prices and weakening overall demand, Mr N. Radhakrishnan, former President of the Cochin Rubber Merchants Association, said.
Of the monthly domestic demand of approximately 75,000 tonnes, almost 30-35 per cent comes from small-scale rubber industries. As monthly demand has weakened, prices have more or less stabilised at their current highs.
The bigger tyre companies are also deferring bulk purchases, reducing the overall demand
Tire Manufacturers Raise Prices
June 1, 2010
Need new tires? Well, you might be hard pressed to find quality brands at discounted prices. Due to higher material costs, manufacturers of popular commercial tire brands have hiked their prices anywhere from 3 to 8 percent.
The following price increases are effective today, June 1, 2010:
•Goodyear Tire & Rubber Company has raised its prices on all consumer tires in North America 8 percent.
•Michelin North America Inc. raised prices on its U.S. replacement truck tires between 3 percent and 7 percent. Read More
Japan’s Industrial Production Rises Most in 56 Years
June 28, 2009 Bloomberg – USA
“The impact of China’s infrastructure building has started to emerge,” Taizo Kayata, senior executive officer in charge of China operations at Komatsu Ltd.,
See all stories on this topic Read More»
Caterpillar suffers amid economic downturn
June 28, 2009
It also faces strong competition, such as from Japan’s Komatsu in the Chinese market. Caterpillar earnings are expected to decline 79 percent this year …
See all stories on this topic Read More»
E.U. Says Europe Faces Deep Recession
MAY 05, 2009
The commission, the executive arm of the European Union, forecast in its spring quarterly economic forecasts that gross domestic product in both the European Union and the euro area would contract by 4 percent this year and by 0.1 percent next y
TOPWRAP 2-Emerging giants offer hope global economy turning
MAY 04, 2009
SINGAPORE, May 4 (Reuters) – The manufacturing sectors in China and India grew for the first time in months in April, surveys showed on Monday, offering evidence the global economy may be through the worst of its sharpest slump in six decades.
The latest signs of “green shoots” from the world’s emerging giants followed U.S. data on Friday that showed a rise in consumer confidence and suggested manufacturing conditions were gradually improving, helping push Asian stocks to seven-month highs on Monday.
Consumer, manufacturing indexes signal economic recovery
MAY 04, 2009
The economy may be on the road to recovery, according to recent manufacturing and consumer confidence figures. The factory index released in March by the Institute for Supply Management rose from 36.3 to 40.1.
An index reading below 50 indicates a contraction. Meanwhile, an index of consumer sentiment released by Reuters/University of Michigan climbed to 65.1 and posted its largest increase in two years.
Caterpillar CEO urges another round of infrastructure stimulus
MAY 04, 2009
Jim Owens, the chairman and chief executive officer of Caterpillar, urged the U.S. government to consider another round of stimulus spending for infrastructure.
The $787 billion stimulus package allocated $70 billion for infrastructure this year, which translates to 6.5% of 2008 total construction spending
Gold price is not going to $2,000 an ounce
MAY 04, 2009
Before you gag on your coffee or suffer chest pains, allow me to explain.
We’re about eight years into the bull market, and gold has breached the $1,000 level twice and has spent weeks trading above the old high of $850. Some observers are now saying that gold’s pretty much had its day and that once the recession is over, it will retreat for good.
Bay Street Stocks Surge More Than 2% On Higher Commodity Prices – Canadian Comm
MAY 04, 2009
(RTTNews) – Resource stocks received a boost from rising commodity prices again on Monday as Toronto’s main index climbed notably higher again. With the rally, the index rose above 9,600 for the first time since November.
The S&P/TSX Composite Index added 192.14 points or 2.02% to move at 9,688.85. Bay Street’s major index added to sharp gains from the previous session and moved above a resistance level.
Apollo to Decide on European Plant After Acquisition
MAY 04, 2009
“No option is closed out for us in Europe. However, once the integration process with Vredestein Banden BV is over, we will be better placed to take a concrete call on Hungary or another manufacturing unit in Europe, depending on the global and European economic conditions and European market needs,” Apollo Tyres Vice-Chairman and Joint MD Niraj Kanwar told PTI.
Natural rubber prices up
MAY 03, 2009
Natural rubber prices which dropped drastically last November, had increased during the past few weeks.
The Director General Rubber Development Department Wimal Rubasingha said that the trend of price increase of natural rubber could be seen in the local market and the international market during the last few months.
More Layoffs Planned at Bridgestone OTR Plant
MAY 01, 2009
The latest layoffs, effective at the end of work yesterday, involve hourly workers making smaller to mid-sized off road tires, for which demand has shrunk.
Titan reports sales, income declines
April 29, 2009
Titan International Inc. posted sales of $232.6 million on net income of $7 million during the first quarter of 2009. That compares to sales of $253.5 million on net income of $8.1 million achieved during the first quarter of 2008.
On the upside, Titan reports that its agricultural product sales totaled $187.3 million during the quarter, an all-time high for the company, vs. $173.5 million in the first quarter of 2008.
Munk forecasts currency, economy fears will send gold to new record highs
Friday , 30 Jan 2009
Gold is likely to hit new record highs, spurred by serious concern about the U.S. currency and doubt about the state of the world economy, the chairman of Barrick Gold Corp. said on Thursday.
There was even a possibility, although not a probability, central banks, including China’s, might start to switch from dollar holdings to gold, which could cause the metal’s price to treble or more.
Bridgestone OTR Plant to Double Giant Tire Production
Publish date: Jan 27, 2009
Bridgestone Firestone Off Road Tire eventually will be able to produce 70% to 80% more of the giant tires because of the new machinery, said plant manager Greg Halford.
Parent company Bridgestone Firestone North American Tire in Nashville, Tenn., provided $5.5 million for all of the transportation costs and components of the plant’s new giant pot heater, which is used in the final stage of the tire-making process, Halford said. Read More»
Small OTR tire supply improving
Publish date: Dec 30, 2008
Giant OTR tires may still be in short supply, but supply of smaller OTR tires, including 25-inch tires, continues to catch up with demand.
“There is a prominent overstock of small bias and radial tires right now,” Gary Nash, director of OTR sales for Yokohama Tire Corp., recently told www.moderntiredealer.com. Read More»
Titan chief forecasts prosperous New Year for the off-road tire company
Publish date: Dec 22, 2008
Titan International Chairman and CEO Maurice M. Taylor Jr. has presented his goals for the company in 2009, including a look at 2008’s results.
In December 2007, Taylor stated that Titan should end 2008 with $920 million to $1 billion in revenue; at this point he believes Titan’s 2008’s revenues could top $1 billion. Read More»
Apollo may sell OTR tires in North America
Publish date: Nov 25, 2008
Indian tiremaker Apollo Tyres Ltd. sees the OTR tire market as a “very big opportunity in the future,” especially in North America, says Neeraj Kanwar, Apollo’s vice chairman.
“That will be our foray into North America,” he recently told www.moderntiredealer.com. Apollo will start manufacturing 63-inch OTR tires next year. Read More»
Titan CEO says revenue will rise in 2009
Associated Press, 12.08.08, 02:19 PM EST
Titan International Inc., which makes wheels and tires for large off-road vehicles used in construction and other industries, should post revenue of $1.175 billion to $1.35 billion next year, up from about $1 billion this year, the chief executive said Monday.
Shares of the company jumped $1.55, or 24 percent, to $8.02 in afternoon trading. They have plunged since hitting a 52-week high of $37.99 in July.
Tire Tips to Take to the Bank
Equipment Today, July 10, 2008
The recent shortage of earthmover tires has taught contractors a lot about the role tires play in the overall cost of doing business. “The tire shortage that plagued the industry for the previous years has lightened significantly,” says Cara Junkins, director of sales and marketing, Titan. “During that time though, a lot of operators learned how to watch tire costs and do what was necessary to elongate the life of their tires.” Read More»
Takeover targets: Australian mining services
International Herald Tribune, July 10, 2008
HONG KONG: Riding the commodity boom but struggling with costs, the mining services industry looks headed for a batch of takeovers.
While the sector is no stranger to acquisitions, slowing growth has buried stock prices of many companies this year, making them more affordable to prospective buyers.
One deal already under way is a 436 million Australian dollar, or $418 million, hostile bid by the Australian construction company Macmahon Holdings for the mining and utilities contractor Ausdrill. Macmahon is looking to bulk up as its principal mining customers also merge. Read More»
MMTC keeps to plan of marketing Chinese commercial vehicle tyres
Hindu Business Line, July 10, 2008
Notwithstanding the negative impact of a depreciating rupee, MMTC sticks to its plan of marketing Chinese commercial vehicle tyres – primarily radial tyres – in India.
The public sector trading major has already identified a US-based tyre maker having a production base in China as the possible source of imports on a long-term basis. The first bulk order is expected to be placed in September-October.
Plans on import of high tonnage OTR (off-the-road) tyres are yet to be firmed up due to an availability crisis. Such tyres are primarily used by the mining industry in earth-moving equipment. Read More»
Lawmakers: Cheap Chinese tires threaten U.S. jobs
Associated Press, July 8, 2008
Lawmakers say more than 1,000 tire manufacturing jobs in Iowa and Illinois are threatened by unfair competition from low-priced Chinese tire imports.
Illinois Congressman Don Manzullo has constituents in Freeport who work for the Titan Tire plant. He says he does not know how much more Midwest communities can take after losing one industry after another.
He was one lawmaker who testified before the U.S. International Trade Commission, calling for a level playing field for American manufacturers of the off-the-road tires used in agriculture and mining.
The U.S. Commerce Department imposed anti-dumping duties on their tires earlier this year.
The trade commission will either recommend President Bush keep the duties or take other action against the Chinese.
U.S. Rep. Boswell: Will Testify Before The International Trade Commission
Iowa Politics.com, July 7, 2008
CONGRESSMAN BOSWELL TO TESTIFY BEFORE THE INTERNATIONAL TRADE COMMISSION TOMORROW, TUESDAY, JULY 8
IN SUPPORT OF RELIEF UNDER U.S. TRADE REMEDY LAWS FOR TIRE MANUFACTURERS IN 3 RD CONGRESSIONAL DISTRICT
Congressman Leonard Boswell will be testifying before the International Trade Commission (ITC) in support of a petition filed by the Titan Tire Corporation, which has a plant in Des Moines, and the United Steel Workers (USW) seeking relief under U.S. Trade Remedy laws. Titan and the USW brought a case to the U.S. International Trade Commission concerning China dumping off-the-road (OTR) tires in the U.S.
Last December, the Department of Commerce preliminarily determined that the Chinese Government was unfairly subsidizing Chinese OTR tire producers and is expected to make a final decision today, Monday, July 7, 2008. It is expected that the ITC will vote as to whether the domestic industry is materially injured or threatened with material injury by Chinese imports on August 11th.
COPPER MINING – $100M equipment ordered for Gibraltar
Canadian Mining Journal, July 6, 2008
BRITISH COLUMBIA – Vancouver’s TASEKO MINES has ordered mining and milling equipment worth $100 million for the expansion of its Gibraltar copper-molybdenum mine at Williams Lake. The company has entered into agreements to buy two Bucyrus 495 shovels, a Bucyrus 409R production drill, four 240-t Terex trucks and a 8.5-m semi-autogenous mill (SAG).
Delivery of the equipment will take place over the next two years. The trucks will arrive later this year, one shovel and drill will arrive in the spring of 2009, and the second shovel in late 2009. The SAG mill and motors should arrive in May 2010 for commissioning by August that year. The addition of the SAG mill will boost milling capacity by 30,000 t/d, bringing total mill capacity to 85,000 t/d.
Titan 63-inch Radial Gets OK
Tire Review, July 2, 2008
Triangle Presents Diamond Back Range at Reifen
Tire Review, July 2, 2008
Senior Goodyear Experts to Speak at American Tire Corporation
American Tire Corporation (ATC) is pleased to announce that it will have a number of speeches on Goodyear and its OTR tires from Goodyear OTR tire experts at ATC’s California facility on June 23 and thereafter.
As part of ATC’s effort to buy Goodyear’s Topeka OTR tire plant, such speeches will be delivered by senior Goodyear experts with an OTR tire experience of more than 70 years in total. ATC’s local employees will have opportunities to attend such events and know more on Goodyear and its OTR tires. Q&A sessions will be followed.
ATC is going to set up a negotiation team late this year to negotiate with Goodyear. Such events will be held on a regular basis until its purchase of Goodyear’s Topeka OTR tire plant is finally realized.
With the objective to become the largest and best manufacturer for 63″ and 57″ tires, American Tire Corporation is a well-established OTR tire manufacturer which has a number of operations in different US states and other countries. ATC has created several “firsts” in the OTR tire industry.
Bigger is better — Yearwood Tire focuses on giant OTR tire retreading, repair
Modern Tire Dealer, June 20, 2008
Talking with John Yearwood, it doesn’t take long to realize he’s a person who enjoys his work. “It’s neat to be able to retread the largest tires in the world,” he says. “There aren’t that many of us out there!”
His company, Yearwood Tire, a single-location dealership in Victoria, Texas, specializes in giant OTR tire repair and retreading. In fact, that’s all the company does.
“We just took delivery of a 170-inch curing kettle,” says Yearwood, who runs the company with his son, Scott. The kettle — which was made by Melco Steel Inc. in Asuza, Calif. — stands 16 feet tall, is 17 feet wide and weighs 65,000 pounds.
It represents a total investment of $500,000, according to Yearwood, who says his company has more than enough volume to justify the expenditure. “We’re retreading about 80 giant OTR tires a month.” Read More»
Michelin’s $90 million investment to add capacity, productivity at Lexington site
GreenvilleOnline.com, June 19, 2008
Michelin North America is investing an additional $90 million to upgrade equipment and further expand production capacity at the company’s Lexington manufacturing site – less than a year after it announced a $110 million investment there, officials said Thursday.
“The marketplace is moving rapidly,” said Michael Fanning, Michelin vice president of corporate affairs. “We recognized additional investments were needed.”
The $110 million investment at the twin facilities — passenger/light truck tire and earthmover tire facilities on one campus – was part of a $350 million investment Michelin announced last August for its four major manufacturing sites in the state. The $90 million is in addition to that. Read More»
Massive investment – OTR tiremakers continue to ramp up production. Meanwhile, would you believe an 81-inch tire?
Modern Tire Dealer, June 17, 2008
We’re doing our best to build giant OTR tires.” Those words from Abraham Hengyucius, president of Chino, Calif.-based American Tire Corp. (ATC), echoed the messages delivered by other tire manufacturers at the 2008 Tire Industry Association Off-the-Road Tire Conference, which was held in late February in Kohala Coast, Hawaii.
OTR tire suppliers used the event as a forum to share their plans for investing in further OTR tire production. Here’s what executives from each of the major OTR tire manufacturers had to say during a panel discussion moderated by Modern Tire Dealer Publisher Greg Smith:Read More»
Tyre prices to go up for second time this year
The Star Online, June 13, 2008
EFFECTIVE July 1, the price of tyres will go up by between 5% and 18%, China Press reported.
In its front-page report yesterday, the daily highlighted that service charge at tyre shops would also be increased by 20%.
Quoting a spokesman for the Tyre Retreading Manufacturers’ Association of Malaysia, the daily reported that manufacturers were finding it hard to make ends meet.
“Initially the association wanted to increase the price of tyres by 25%. But fearing a backlash from consumers, we decided to raise it to between 5% and 18%,” he told the daily. Read More»
Grupo Mexico CEO defends Asarco transfer
Arizona Daily Star, June 11, 2008
India’s Tyre Output Growth Falls Short of Forecasts
Tire Review, June 11, 2008
Central Texas Retreading Announces New Oliver Rubber Retreading Facility
Layover Community, June 9, 2008
Central Texas Retreading of Elm Mott, Texas announced today that it will install an Oliver Rubber retreading facility that will begin making Oliver® brand commercial retreads on June 15, 2008.
Todd Calandra, the president of Central Texas Retreading, said,” Oliver was our choice in retreading because we could install an efficient shop at a reasonable cost and produce the highest quality retreads. As an Oliver retreader, you also are able to serve a market area that is not overcrowded with other Oliver dealers. Our plan is to sell Oliver retreads from as far north as Dallas and as far south as San Antonio.” Read More»
Michelin raising price of its tires
GreenvilleOnline.com, June 5, 2008
Michelin is boosting the price of its tires as a result of continuing increases it is facing in raw material, energy and transportation costs, officials said.
But it also is experiencing an escalating interest in its X One wide single tire for commercial trucks as diesel fuel costs hit $4.77 a gallon, said Pete Selleck, president of Michelin Group’s worldwide truck business.
The tire maker announced plans to increase the prices of its Michelin, BFGoodrich and Kleber brand agricultural and compact line tires sold in the United States and Canada by between 6 percent and 36 percent, effective July 1, spokeswoman Lynn Mann said in a written statement. Read More»
Goodyear Commercial Tire Price Increase
Tire Review, June 5, 2008
International Tyre Exhibitors Sign Up for Tyrexpo Asia’09
Reifen Press, June 5, 2008
International exhibitors are already confirming plans for the new products and displays designed to catch the eye of tyre industry buyers at next year’s Tyrexpo Asia March’09 exhibition. For Singapore-based manufacturer and distributor Omni United, the sales focus next March has already been agreed as its Radar ranges of bus and truck tyres, designed in India and manufactured in China. Radar OTR tyres will also form a very prominent stand presence, with products ranging in size to cover mining and industrial equipment from 21 to giant 57-inch wheel sizes. Read More»
American Tire Corporation to Buy Gold and Copper Mines
Many gold and copper mines operate dump trucks with 57″ and 63″ giant OTR tires which are American Tire Corporation’s primary product to supply. American Tire Corporation is going to combine mining and tire production together to further its business in USA.
Chino, CA (PRWEB) June 4, 2008 — American Tire Corporation (ATC) is pleased to announce that it has interest in purchasing some large gold and copper mines located in USA.
ATC produces all sizes of OTR tires with competitive quality for mining operations globally. In order to further expand the business, ATC decides to enter into the operation of mining industry. According to the plan, ATC will not only run some gold and copper mines, but will also satisfy whatever OTR tire needs from all ATC-purchased mines to maximize the capacity of mining production.
Yokohama to Put Up Consumer Tyre Prices
Reifen Press, June 4, 2008
Yokohama Tire Corporation have announced that increases in U.S. consumer prices will come into effect on 1st July 2008 due to the rising costs of energy and raw materials.
In addition, consumers can expect to see in-line adjustments announced at a later date, while commercial Light Truck, Medium Truck and OTR (off-the-road) tyre prices will not be affected.
Yokohama Tire Corporation is the North American manufacturing and marketing division of the Tokyo-based Yokohama Rubber Co., Ltd., with a network of 4,500 points of sale in the U.S..
ATMA asks govt to impose anti-dumping duty on Chinese tyres
The Economic Times, June 2, 2008
Worried by massive 1300 per cent jump in tyre imports from China in the last five years, Automotive Tyre Manufacturers Association (ATMA) today asked government to immediately impose an anti-dumping duty on import of radial truck and bus tyres.
“The truck and bus tyre import in the country has jumped by a massive 1300 per cent during the last five years. According to data released by DGCIS&S, Government of India and corroborated by ATMA, the truck and bus tyre imports have gone up from 88,000 in 2003-04 to 12.17 lakh in 2007-08,” the association said in a statement. Read More»
MICHELIN : OLIVER RUBBER COMPANY ANNOUNCES PRICE INCREASE
NYSE Euronext, May 28, 2008
Due to the continued escalation of raw material costs, Oliver Rubber Company will increase prices for its retread rubber products by 5 percent effective June 1, 2008.
Oliver Rubber Company has sold retread rubber products and equipment since 1912. It sells retread rubber under the Oliver and MegaMile brands for commercial, industrial and OTR tires. Oliver Rubber has a network of Oliver brand licensees throughout North America. It operates a retread rubber production facility in Asheboro, N.C. and a retread equipment division in Salisbury, N.C. The company, headquartered in Greenville, S.C., is a wholly-owned subsidiary of Michelin North America, Inc.
Gigantic wheels turning Titan Tire factory into a hub of new activity
toledoblade.com, May 27, 2008
This Williams County seat, already home to the Etch A Sketch drawing toy and Dum Dum pops, soon will have a third claim to fame: gigantic tires.
Titan International Tire Co. has begun test production at its Bryan plant of a new 63-inch mega-tire that it plans to sell to the mining industry, which is booming due to high demand worldwide for gold, iron ore, coal and other minerals.
The first prototype that plant managers have unofficially dubbed the Super OTR (for off-the-road), was lifted out of its assembly area Feb. 15 and since then Titan has built a few each month, shipping then shipped them to company headquarters in Quincy, Ill., for testing.
Exactly when real production will start is a closely-guarded secret, but Titan officials are confident it will happen this summer and by year’s end the Bryan plant expects to build up to 20 of the 13,000-pound tires daily. Read More»
Massive investment — OTR tiremakers continue to ramp up production. Meanwhile, would you believe an 81-inch tire?
Modern Tire Dealer, May 16, 2008
“We’re doing our best to build giant OTR tires.” Those words from Abraham Hengyucius, president of Chino, Calif.-based American Tire Corp. (ATC), echoed the messages delivered by other tire manufacturers at the 2008 Tire Industry Association Off-the-Road Tire Conference, which was held in late February in Kohala Coast, Hawaii.
OTR tire suppliers used the event as a forum to share their plans for investing in further OTR tire production. Here’s what executives from each of the major OTR tire manufacturers had to say during a panel discussion moderated by Modern Tire Dealer Publisher Greg Smith: Read More»
Goodyear rolls out hiring opportunities
The Topeka Capital-Journal, May 15, 2008
Amid a slow economy, Goodyear Tire & Rubber Co. put out the word it is hiring.
In recent days, the company’s Topeka manufacturing facility advertised for applicants over the radio, in print ads, direct mailings and at a job fair.
But as hundreds of job seekers came to Wednesday’s job fair at the Ramada Hotel and Convention Center, the tire maker wasn’t saying how many people it would add to the payroll. Read More»
Tyrexpo Africa Continues to Grow
Reifen Press, May 8, 2008
The second staging of the Tyrexpo Africa exhibition was generally perceived to be successful by exhibitor companies, who welcomed an increased number of industry buyers and delegates at the recent exhibition in Johannesburg. Tyres & Accessories was there and this month brings you the exhibitor highlights in the context of the current business environment. Read More»
Yokohama to Expand OTR Plant
Tire Review, May 13, 2008
Purcell Tire Acquires D&D Tire
Biz Journals, May 6, 2008
Purcell Tire and Rubber Co. bought D&D Tire Inc. and its 10 tire service centers, mine servicing sites, an off-the-road repair facility and a retreading plant for an undisclosed amount, the company announced Monday.
Potosi, Mo.-based Purcell plans to operate D&D as a wholly-owned subsidiary through the end of the year then transition D&D operations into Purcell’s existing operating units where a single brand will be launched. Fernley, Nev.-based D&D has 180 employees. Read More»
Bridgestone’s buy of Firestone, 20 years Later
Ohio.com, May 5, 2008
It was a buyout that helped transform Akron.
Twenty years ago this month, Bridgestone Corp. completed its $2.6 billion acquisition of venerable but troubled Akron industrial giant Firestone Tire & Rubber Co. The sudden, and stunning, Japanese takeover of an American corporate icon became national news.
The anniversary also arrives during a month when Bridgestone Firestone employees will come up with a recommendation on the future of their North American technical center and its 600 jobs in Akron. Read More»
EU charges Bridgestone, Yokohama and Trelleborg with price-fixing
International Herald Tribune, May 2, 2008
EU regulators have charged Bridgestone Corp., Yokohama Tires and Trelleborg AB with breaking antitrust rules — a move that can lead to large fines — the companies said Friday.
Bridgestone, Japan’s largest tire maker, said on its Web site that it had received formal notification of charges regarding a cartel it allegedly formed with rivals to fix prices for maritime hoses used to load and unload oil tankers. Read More»
Making OTR Tyres Last Longer
Reifen Press, May 2, 2008
The ongoing global off-the-road (OTR) and earthmover (EM) tyre shortage continues to cause headaches for the quarrying and mining industries. Woeful tales of expensive tyres, big machines standing idle, lost production and reduced revenues come from all corners of the world – all for want of the right tyre. That’s why this month’s OTR and EM tyre feature sees Tyres & Accessories explore the range of options available for those seeking to help their customers keep their OTR machinery going. Read More»
Michelin Announces Tire Price Increases In North America
EasyBourse.com, April 30, 2008
PARIS -(Dow Jones)- French tire maker Michelin (12126.FR) said Wednesday it is increasing the prices of some of its tire lines up to 8% in North America in an effort to offset mounting raw material prices and energy and transportation costs.
Earthmover and industrial tire prices, including items on back-order, will increase up to 8% on products sold across North America effective June 1st.
Passenger and light truck replacement tire prices will increase up to 8% on Michelin, BFGoodrich, Uniroyal, private and associate brand tires sold in the U.S.
This increase is effective for all shipments scheduled on or after July 1, the company said.
-By David Pearson, Dow Jones Newswires; +331 4017 1740, email@example.com
Titan to Raise Aftermarket Prices by up to 35%
Reifen Presse, April 30, 2008
Titan Tire Corporation has scheduled an increase in prices for aftermarket Titan, Goodyear and General branded OTR, farm and construction tyres, taking effect June 1, 2008. These increases will vary between 4 and 34 per cent, and the decision to implement the new prices is said to have resulted from rising costs for natural and synthetic rubber, carbon black, fabric, energy and transportation
Mining giant BHP attacks Rio’s performance
Business Spectator, April 23, 2008
BHP Billiton chief executive Marius Kloppers has launched an attack on takeover target Rio Tinto’s past “underperformance” and growth prospects, in another sign the battle between the two companies has become hostile.
Mr Kloppers told the Financial Times that Rio boss Tom Albanese has been outperformed by BHP in terms of volume growth, earnings per share growth, returns to shareholders and share price performance. Read More»
WASHINGTON DIARY: Commodity price bubble – Dr Manzur Ejaz
Daily Times, April 23, 2008
If governments of developing countries continue to pander to global capitalist forces, running after imaginary foreign investments that are not there anyway, they will be vulnerable to the highest levels of internal unrest and destruction
Rising commodity prices have left fragile developing economies neither here nor there. Developing countries pressured or advised by the World Bank, IMF and the US, opened their markets to attract foreign investments. For most of them, real foreign investments have remained illusive because it was a zero sum game to start with. However, global speculative capitalist forces, unhindered by national restrictions, have started destroying them at an accelerated speed. Read More»
Spot rubber prices rise further
Sify, April 22, 2008
Kottayam: Physical rubber prices posted moderate gains on Monday. Covering groups and purchase agents continued to procure the raw material as major manufacturers were buyers on sheet rubber up to Rs 110.50 a kg during the previous week. The grade moved up to Rs 112 from Rs 111 a kg both at Kottayam and Kochi amidst low arrivals. Read More»
American Tire Corp. announces proposal to Goodyear for OTR tire plant
Modern Tire Dealer, April 21, 2008
American Tire Corp. says it would like to buy Goodyear Tire & Rubber Co.’s OTR tire manufacturing plant in Topeka, Kan.
American Tire Corp. (ATC) says it would like to buy Goodyear Tire & Rubber Co.’s OTR tire manufacturing plant in Topeka, Kan.
ATC says it sent a proposal dated April 21, 2008, to Goodyear’s board of directors. Under the proposal, ATC would buy Goodyear’s 63-year-old OTR tire plant “at any reasonable price,” then spend $200 million to modernize it and increase production capacity by 20%.
In official response to ATC’s press release, Goodyear had this to say:
“We have not received any communication from American Tire Corp. and, thus, have no comment on the news release.
“We are very pleased with the performance of our OTR business and continue to see opportunities for Goodyear in this business. We have not announced plans, or an intention, to sell any part of this business.”
According to an ATC official, this proposed acquisition would not affect the building of its OTR tire manufacturing plant in Washington (see “American Tire Corp. says plans for new radial OTR tire plant are moving forward,” Dec. 31, 2007).
Titan begins testing of new 63-inch tire
Modern Tire Dealer, April 18, 2008
Titan International Inc. began testing its 63-inch OTR tire on a newly constructed 24-foot wheel this week. Titan says the test wheel is the largest in the world.
Titan International Inc. began testing its 63-inch OTR tire on a newly constructed 24-foot wheel this week. Titan says the test wheel is the largest in the world.
Titan produced its first 63-inch tire two months ago. The tire stands 13.5 feet tall and weighs 12,500 pounds.
The company’s test wheel can be loaded with up to 500,000 pounds and operated at a top speed of 45 miles per hour.
“Testing will confirm the casing of the tire and its heat characteristics,” say company officials. “Ten days of testing is equivalent to one year of field use.”
China’s Big-Tire Manufacturers Could Offer a Comfortable Ride
The Wall Street Journal, April 18, 2008
SHANGHAI, China — Investors hoping to ride China’s transportation boom should take a look at the companies that make the giant tires that help keep the economy rolling along, analysts say.
Every year, hundreds of thousands of new heavy trucks and engineering vehicles get onto Chinese roads. They work at mines and construction sites and move goods. About 70% of the all-steel radial tires these vehicles use are supplied by homegrown tire makers, which also have a growing export business.
Analysts say these companies could provide some protection for investors when China’s stock market — red-hot most of last year ..
My Kingdom for a Tire
Business Week, April 10, 2008
On the plant floor at RDH Tire & Retread in Cleveland, N.C., about 60 workers do nothing all day but retread giant tires that have come off of mining equipment—giant meaning 12 feet tall, 40 feet around, and 13,000 pounds. A tire retreading shop is fairly quiet as factory settings go. You’ll hear lots of dull thuds as hammers whack away at the vulcanized rubber that makes up most of the tire. There’s an occasional whoosh of an air hose sweeping away debris and dust. Now and then, high-pitched whines pierce the air as workers grind broken bits of metal that make up the tire’s interior radial belt. Read More»
Tire Review, April 7, 2008
Ill-Placed Countervailing Duties Counter to Free Market Economy
Been thinking about this whole Chinese tire-International Trade Commission/Commerce Department matter. And it is a difficult one, to be sure.
I am not necessarily a fan, for instance, of good manufacturing jobs leaving these shores. But I do understand – and agree with – the concept of a Free Market Economy. You know, the one where winning and losing is determined by market forces and not government intervention. Read More»
Miners Grapple With Chronic Off-Road Tire Shortage
Tire Review, April 1, 2008
OTR tires are starting to show up on auction sites like eBay Inc., offered for sale at prices that most people pay for a mid-sized car, and manufacturers are trying to teach customers how to make their tires last longer. The worldwide shortage of giant tires up to 12 feet in diameter is a reflection of the mining boom that started in the early part of this decade when China and other emerging economies started demanding vast quantities of raw materials to fuel their growth, pushing up prices to unprecedented levels. Read More
MITAS Announces 25-Inch Earthmover Tyre, Further Sizes to Follow
Reifen Presse, March 31, 2008
Czech Republic based manufacturer MITAS a.s. is expanding its Mitas brand earthmover radial range with the addition of a 25-inch size. The company reports that trial production of this new product is already underway, and serial production will commence in the second half of the year. Read More»
Earthmover and mining tyres available from Agora Tire
Ferret.com.au, March 19, 2008
Agora TireÂ supplies a wide range of earthmover tyres, mining tyres, and loader and dozer tyres. The earthmover tyres and mining tyres supplied by Agora Tire can be used for a variety of industrial applications. Agora Tire also distributes a range of customised tyres suitable for variable industrial and mining applications. The earthmover tyres supplied by Agora Tire have cut resistance, heat resistance, wear resistance and shock burst resistance capabilities. Agora Tire distributes large treaded tyres manufactured by Colorado suitable for heavy vehicle transportation applications. Read More»
OTR tyre manufacturer upping its production to cope with demand
Mining Weekly, March 14, 2008
To tackle the problem of global earthmoving equipment tyre shortages, the manufacturer of the first radial tyre, Michelin, is investing a large amount of money to increase its capacity to manufacture of-the-road (OTR) tyres. The company predicts that the demand for OTR tyres will continue until 2012.
The company is expanding its Lexington plant, in the US, and it opened a new plant in Campo Grande, Brazil, to increase its capacity for production of OTR tyres by 40%, by 2010.
The expansion of its Lexington plant was announced in 2005. The objective of this expansion is to increase the production of 51, 57 and 63 radial tyres for surface mining by 50% before the end of this year. This will lead to an increase of 12 900 t, compared with production for 2007. Read More»
Michelin Showcases First Tyre From Brazil OTR Facility
Reifen Presse, March 12, 2008
The official dedication of Michelinâ€™s new OTR tyre facility in Campo Grande, Brazil, took place in February, and the company is displaying the first tyre produced at the plant, a Michelin XDT, at the 2008 ConExpo-CON/AGG show in Las Vegas between March 11 and 15. The tyre has been autographed by employees at the Campo Grande facility. Read More»
Goodyear to idle hundreds locally
CJOnline, March 6, 2008
Goodyear Tire & Rubber Co. will shut down its radial truck tire business in Topeka for six days during the Easter holiday because of lower demand from the trucking industry.
The radial truck tire business is experiencing a softening because of lower demand for original equipment semitrailer tires, economic softness, rising fuel costs and high raw material expenses, according to rubber tire and trucking experts.
Egypt imposes dumping duty on Indian, Chinese tyres
Reuters India, March 8, 2008
CAIRO (Reuters) – The Egyptian government has imposed a dumping duty for the next five years on new bus and truck tyres imported of Indian or Chinese origin, the state news agency MENA said on Saturday.
Rachid said that within 12 or 18 months a joint Egyptian-Chinese industrial area west of Cairo would start producing all kinds of components for the vehicle industry
Rubber prices continue to soar
CommodityOnline, March 5, 2008
Natural rubber market is witnessing an upward movement now with fears of production fall and global price rise looming large.
According to market experts, rubber Futures opened firm on Wednesday on depleting stocks in warehouses.Read More»
Indian tire manufacturer enters OTR market
Modern Tire Dealer, March 5, 2008
Indian tire manufacturer Apollo Tyres Ltd. has begun construction on its first OTR tire plant, which will build 25-inch through 57-inch tires.
The factory — which will be based in Limda, India — is expected to be fully functional within the next 15 months. It will have an initial capacity of 10 tons a day and will increase to 60 tons a day within the next three years.
“We will begin production with the convenient cross-ply tires, which are used in India,” says Onkar Kanwar, Apollo Tyres’ chairman.
“Over the next two years, we will manufacture radial OTR tires, which are currently not produced in India.”
Kanwar adds that “various earthmover equipment manufacturers have shown eagerness to get into agreements with us that allow them exclusive access to our OTR production.”
Major European Tire Manufacturer Purchases Advanced ID Tire Products
Business Wire, February 28, 2008
DERBYSHIRE, England–Advanced ID Corporation, a leading developer of radio frequency identification (“RFID”) technology for livestock tracking, pet recovery and supply chain applications focusing on the tire management industry, today announced that its Pneu-Logic Ltd. subsidiary has sold nine tire maintenance systems to a leading European-based original equipment manufacture (“OEM”) of tires for passenger and commercial vehicles. The sales are part of an international test being conducted by the OEM on truck tires in Germany, Italy, and the United Kingdom. In addition, Pneu-Logic has entered into Latin America through this test program with tire maintenance systems sales for use on commercial tires in Brazil. The European-based OEM also is a leading producer of commercial truck tires in Brazil.
The name of the OEM will be released upon successful completion of the three month trial toward the end of the first quarter of 2008, at which time a significant purchase order will be placed for a global launch of the product through the customerâ€™s entire truck tire operations. Read More»
OTR offer TotalTyreLogic Service in Scotland
HUB, February 27, 2008
TotalTyreLogic, OTR’s ‘cradle to grave’ earthmover tyre management system, is making a big impact in Scotland’s quarrying industry.
Already in use in more than 30 quarries in Scotland, TotalTyreLogic is proving its worth with major quarrying groups, appreciating the ‘total’ service offered from OTR – from sourcing and supply of tyres through retreading to disposal and replacement. Read More»
Foundation Stone Laid for New Apollo OTR Plant
Tire Review Online, February 26, 2008
The construction of this new plant marks Apollo’s entry into the OTR tyre segment. Presiding over the auspicious occasion at Limda, in India’s Gujarat state, was company chairman and managing director Onkar Kanwar. Read More»
Rubber prices to remain firm
Business Standard, February 26, 2008
Higher exports, farmers’ reluctance to sell produce stoke bullish sentiment.
Natural rubber prices will remain at higher levels on overseas sales and growers’ reluctance to sell their produce anticipating better prices in the future. On Monday, the benchmark grade RSS-4 was quoting at Rs 101 a kg. Read More»
Caterpillar expands LHD supply with new assembly line in Brazil
IM International Mining, February 26, 2006
In its first assembly move out of Tasmania, Caterpillar has opened a newÂ line of underground mining loaders in Brazil. In response to the continuing strong demand for mining equipment, Cat now is manufacturing the R1600G LHD in the long established Caterpillar facility in SÃ£o Paulo State. The new line establishes a second source for Cat LHDs, which previously had been manufactured solely in Tasmania, Australia.
“The expanded manufacturing base will have a significant impact on the availability of new machines for our customers,” said Chris Curfman, President of Caterpillar Global Mining. “This is an important step, too, in moving toward our goal of being the global leader in underground hard rock mining equipment. Read More»
Woman appointed boss of mining group
Evening Courier, February 18, 2008
Ruth Bailey, 41, is the new director general of the Monckton Road-based Association of British Mining Equipment Companies, which helps firms sell Â£500m worth of goods a year.
“Britain’s coal industry may be a shadow of its former self, but the mining machinery sector is flourishing overseas.
“It has a world class reputation for quality, reliability and value and is playing a significant role in enabling the emerging countries to extract their coal in a cleaner, more efficient and safe way,” she said.
|American Tire Corporation Successfully Presented Radial OTR Tires in Arizona
PR Web, February 17, 2008
American Tire Corporation (ATC) successfully presented its radial OTR tires and Washington OTR tire plant at the quarterly meeting of Southwest Association of Master Mechanics in Mesa, Arizona.
On February 15, 2008, Dr. Abraham Hengyucius and Mr. Brad Harris respectively introduced ATC’s production and marketing program on behalf of ATC — the manufacturer of Colorado OTR tires. This 1.5-hour presentation was started from the production section by Dr. Hengyucius who specified ATC’s current and coming production, capacity for 63″, 57″, 51″ and 49″ radial OTR tires, manufacturing equipments, plant details and strategic objectives. The government support for both production and international marketing was emphasized. Then, Mr. Harris analyzed the current situation of global OTR tire industry, Colorado OTR tire’s marketing strategy and on-site engineering support program. The first batch of delivered Colorado 63″ tires was introduced, with video and accurate figures collected from the mine site, as a successful example from ATC. Read More»
Titan Tire Builds First Radial 63-inch Tire
Yahoo.com, February 15, 2008
Titan Tire Corporation of Bryan, a subsidiary of Titan International Inc., has produced the companyâ€™s first prototype giant radial 63-inch tire in its Ohio facility. Titan announced its commitment to produce these large radial tires, used in the mining industry, in May 2007. Read More»
CMA LLC responds to preliminary anti-dumping decision
Modern Tire Dealer, February 15, 2008
Last week’s preliminary decision by the United States Department of Commerce (DOC) to impose antidumping duties on imports of new pneumatic OTR tires from China was quickly supported by both the United Steelworkers and Titan Tire Corp.
Last week’s preliminary decision by the United States Department of Commerce (DOC) to impose antidumping duties on imports of new pneumatic OTR tires from China was quickly supported by both the United Steelworkers and Titan Tire Corp.
China Manufacturers Alliance LLC (CMA), the North American marketing arm of Double Coin Holdings Ltd., has a differing view of the decision. Here, in its entirety, is CMA’s official response. Read More»
US workers group says antidumping duty on China tires a good step
Forbes.com, February 13, 2008
US labor group United Steelworkers (USW) welcomed a preliminary decision by the US Commerce Department to impose antidumping duties on imports of new pneumatic off-the-road (OTR) tires from China, saying it will ‘help level the playing field’.
‘The decision will help level the playing field for US workers by requiring Chinese tire imports to be priced fairly. This case shows the importance of vigorous enforcement of our trade laws as a first line of defense against unfair trade practices that harm American industries and jobs,’ USW International president Leo Gerard said in a statement. Read More»
American Tire Corporation Enters Asian Market
PRWeb, February 13, 2008
American Tire Corporation (ATC) is pleased to announce that its Colorado brand OTR tires have entered into Asian market from the beginning of 2008.
Several containers of Colorado brand 35″ and 49″ OTR tires have been shipped for users in South Asia and Middle East. Dozen of containers of such tires and larger will be shipped to the same area in the first quarter of 2008. Read More»
Tyre makers want cut in rubber import duty
Reuters, February 12, 2008
Indian tyre makers want rubber import duty to be cut in the forthcoming budget to do away with an inverted duty structure under which rubber, a key raw material, attracts a higher duty than the finished product.
Tyre makers want the 20 percent duty on rubber imports to fall to 7.5 percent to prevent dumping of tyres from China and other countries, Automotive Tyre Manufacturers Association (ATMA) said in a statement. Read More»
Burned In The Rubber Business!!
OTR Tire, February 11, 2008
In today’s “Earthmover” or “OTR” tire market we are all aware of the lack of larger size tires. While there has been an increase in the availability in the smaller sizes we are still experience a major shortage in the Giant size i.e. the 3700R57, 4000R57, up to and including the 53/80R63 and 59/80R63.
This is very frustrating to the mines that need them and to us that need to locate them for our customers.Read More»
American Tire Corporation Decides Not to Increase OTR Tire Price
PR Web, February 10, 2008
February 10, 2008 — American Tire Corporation (ATC) has decided to maintain its OTR tire prices at current levels while other US tire manufacturers have increased or are planning to increase their prices from the beginning of 2008.
ATC expresses its support of the announcement of the U.S. Department of Commerce that it will collect anti-dumping customs duties against Chinese OTR tires. ATC and all the US tire manufacturers will benefit from these measures. Read More»
Titan, Union Cheer Commerce Dumping Ruling
Tire Review, February 8, 2008
USW lauds preliminary decision to put antidumping duties on Chinese tires
Chesterton Tribune, February 7, 2008
The United Steelworkers (USW) is welcoming the U.S. Commerce Departmentâ€™s preliminary decision to impose antidumping duties on new pneumatic off-the-road (OTR) tire imports from China.
â€œTodayâ€™s decision will help level the playing field for U.S. workers by requiring Chinese tire imports to be priced fairly,â€ USW International President Leo Gerard said in a statement released on Wednesday. â€œThis case shows the importance of vigorous enforcement of our trade laws as a first line of defense against unfair trade practices that harm American industries and jobs. Read More»
Eastland Tire, LLC Enters Into OTR Tire Dealer Agreement With Titan International, Inc.
PR Newswire, February 5, 2008
Eastland Tire announced that the company entered into a dealer agreement with Titan International, Inc., in which Eastland Tire has secured a long-term source of Titan’s off-the-road (OTR) tires including the new 57- and 63-inch giant mining radial tires that Titan is currently developing. Read More»
Bridgestone to Increase Tire Sales in Thailand Through New Acquisition
Azom.com, February 5, 2008
Bridgestone Corporation announced that Bridgestone Holdings (Thailand) Co., Ltd. (“BSHT”) has agreed to acquire Shell Autoserv (Thailand) Co., Ltd. (“SAT”) from Shell Group company on February 4th. BSHT was established through a joint capital investment of Thai Bridgestone Co., Ltd., the Thai subsidiary of Bridgestone, and a local Thai partner. SAT owns 64 “Shell Autoserv” stores in the capital city of Bangkok and in other locations throughout the country, which is an independent network and provides car maintenance service including tire and lubricant sales. Read More»
Rubber Exports Fall by 42%
Business Line, February 4, 2008
KOTTAYAM: A rise in the domestic prices of natural rubber has hit hard on India’s rubber export which slumped by 42 per cent to 29,674 tons during April-January period of the current financial year as compared to 51,393 tons in the corresponding period a year ago, a senior Rubber Board official said. Read More»
American Tire Corporation Denies Involvement in Alpha Mining Systems’ Trade Secret Case
PR Web, February 4, 2008
Chino, Calif. (PRWEB) February 4, 2008 — American Tire Corporation (ATC) has denied any involvement or relationship with Alpha Mining Systems’ trade secret case as reported in the article “Tire maker wins trade secret case” published in the Herald-Tribune, a Sarasota, Florida newspaper, on January 31, 2008.
According to this article, “Sam Vance, Alpha’s sales and marketing manager at the time, was found guilty by 12th Judicial Circuit Court Judge Robert W. McDonald Jr. of giving a pair of overseas competitors everything they needed to steal business away from the Sarasota company.” “Alpha Mining Systems, a global manufacturer of industrial mining tires, has won a $19.7 million judgment against a former employee for handing out the company’s trade secrets in 2005.” Read More»
Rubber Exports Gain Momentum
CommodityOnline, February 2, 2008
After a steady fall, natural rubber export is gathering momentum with the global prices ruling above the domestic rates.
According to a press note issued by the Rubber Board, the present situation is favourable for the export of natural rubber. Read More»
Tire maker wins trade secret case
Herald Tribune, January 31, 2008
Alpha Mining Systems, a global manufacturer of industrial mining tires, has won a $19.7 million judgment against a former employee for handing out the company’s trade secrets in 2005.
Sam Vance, Alpha’s sales and marketing manager at the time, was found guilty by 12th Judicial Circuit Court Judge Robert W. McDonald Jr. of giving a pair of overseas competitors everything they needed to steal business away from the Sarasota company.
“Alpha has suffered and continues to suffer irreparable damage as a result of defendant’s misappropriation of Alpha’s confidential, proprietary and trade secret information,” McDonald wrote. Read More»
Facts Issue 2008: Bridgestone takes over in the U.S. and Canada
Modern Tire Dealer, January 29, 2008
For the first time, Bridgestone Firestone North American Tire LLC surpassed Goodyear Tire & Rubber Co. in tire sales.
For the first time, Bridgestone Firestone North American Tire LLC surpassed Goodyear Tire & Rubber Co. in tire sales.
In Modern Tire Dealer’s 2008 Facts Issue, Bridgestone finished 2007 with $8.5 billion in tire sales in the United States and Canada. Goodyear finished second with $8.3 billion in sales. Michelin North America Inc. was third with $7.2 billion.
Rounding out the top 10 are Cooper Tire & Rubber Co. ($2.1 billion), Continental Tire North America Inc., Hankook Tire America Corp., Yokohama Tire Corp., Toyo Tire Holdings of Americas, Kumho Tire U.S.A. Inc. and Pirelli Tire North America Inc.
The 42nd annual January Facts Issue also contains information on retail and commercial brand share, average tire costs, tire plant capacities and much more. Check it out!
Bridgestone increases prices to cover rising energy costs
Tennessean.com, January 29, 2008
Rising oil prices have driven up the cost of making tires, forcing Bridgestone Firestone North American Tire LLC to raise tire prices as much as 8 percent beginning March 1, the Nashville-based company said Monday.
“The continued unprecedented upward spiral of energy and raw material costs makes this action necessary,” said Asahiko “Duke” Nishiyama, the company’s vice chairman and president. Read More»
Tire Review Online, January 28, 2008
Kreitzman helped found the first version of China Manufacturers Alliance in 1998 as a partnership with a major Chinese tiremaker. In 2003, the company splintered, with the manufacturer-partner taking part of the business, and Kreitzman moving on to form what is now named API Inc. Read More»
OTR’s TotalTyreLogic Goes Down Big In Scotland
Reifen Press, January 28, 2008
TotalTyreLogic, the cradle to grave earthmover tyre management system from OTR Tyres, is having a big impact on the quarrying industry in Scotland, where it is being used in more than 30 quarries. Read More»
Bridgestone to raise China tyre prices in March
Reuters, January 28, 2008
SHANGHAI, Jan 28 (Reuters) – Japan’s top tyre maker, Bridgestone Corp (5108.T: Quote, Profile, Research), said on Monday it will raise prices in China by up to 5 percent beginning in March due to higher raw material prices. Read More»
An empire from a tub of goo
Globeandmail.com, January 26, 2008
How did the quest to retrieve the treasure hidden beneath huge swaths of northern Alberta go from fool’s errand to monumentous payoff? Erin Anderssen, Shawn McCarthy and Eric Reguly explain. Read More»
China fires back in dumping case
RubberNews.com, January 22, 2008
BEIJING — The U.S. Commerce Department was unfair and discriminatory against Chinese off-the-road tire manufacturers when it found that the Chinese government is subsidizing them, the Chinese Ministry of Commerce has declared. Read More»
Dunlop India Hopeful for Fresh OE Agreements
Reifen Press, January 21, 2008
Dunlop India is reported to be seeking fresh OE deals. According to the Times of India, the Ruia Group company has entered into talks with Indiaâ€™s largest commercial vehicle maker, Tata Motors, regarding a truck tyre deal. Company chairman Pawan Ruia also stated that Dunlop India hopes to come to an arrangement with Indiaâ€™s Bharat Earth Movers Ltd (BEML) for the supply of OTR tyres. The manufacturer of earthmoving and heavy industrial equipment recently signed an OE agreement with Apollo Tyres, for which the company is increasing its OTR tyre capacity from 10 to 60 tonnes per day.
Mr. Ruia added that Dunlop India is also in negotiations with Hindustan Copper and Coal India for the supply of OTR tyres.
For Terex, the Way to Go Is Up
The Wall Street Journal, January 20, 2008
With construction-equipment stocks now out of favor on Wall Street because of domestic economic concerns, some investors see an opportunity in Terex (TEX). Its shares have fallen 47% from their July peak, to $51.Read More»
Robots to rule at Rio Tinto
Australian IT, January 18, 2008
RESOURCES giant Rio Tinto will replace humans with robots in its Western Australian mining operations over the next two years as it rolls out a fleet of automated vehicles including trucks, trains and drilling rigs. Read More»
RISING DEPRECIATION COSTS DEFLATE BRIDGESTONE’S STOCK PRICE
TradingMarkets.com, January 16, 2008
TOKYO, (AsiaPulse via COMTEX) -Growing depreciation costs are creating an extra challenge for Bridgestone Corp. (TSE:5108) at a time when the leading Japanese tyre maker is battling high raw material prices and a stronger yen. Read More»
Titan will raise price on tires
The Associated Press, January 16, 2008
Titan Tire Corp. said Wednesday higher costs has caused it to raise prices on Goodyear, Titan and General branded off-the-road, farm and construction tires, effective in March.
Prices will go up 7 percent and offset rising raw material, energy and transportation costs, said Titan Tire, which is a unit of vehicle-part manufacturer Titan International Inc.
Some prices may rise more than 7 percent due to realignment and positioning of product
A Second Life and Beyond
Equipment Today, January 14, 2008
If you’ve purchased a larger earthmover, or have had to replace the rubber on existing units, you’ve likely encountered some difficulty in getting the tires you need. There’s still a tire shortage, and manufacturers expect the gap between supply and demand for large earthmoving tires to continue through 2009. Read More»
How will the Rubber and Tire Industry in Asia/China Face up to Price Hikes, CO2 Shock and Environmental Threats?
eMediaWire, January 11, 2008
Anticipated to be ‘Asia’s Most Awaited Rubber & Tire Conference’! CMT has brought together the best expertise and brightest brains to discuss and analyze the present and future dynamics in the rubber and tire world. Some of the other companies represented are Lanxess, Michelin, The Thai Rubber Association, Bekaert, South China/Wanli Tires, Pouchen Corporation, JK Tires and many more. Read More»
Bridgestone to invest in off the road tire plant in Illinois
RubberWorld, January 11, 2008
Bloomington, IL — Bridgestone Firestone North American Tire, LLC (BFNT) is making a significant financial investment in its Bloomington, Ill., Off Road Tire plant that will allow the plant to produce new off road tire sizes and double the facilityâ€™s giant loader tire curing capacity. The investment will result in the addition of new jobs at the facility. Total capital expenditure is expected to be a minimum of $12 million over the next five years. The facility will also hire nearly 50 teammates in 2008. “As we have stated many times, we will continue to invest in our key facilities where there is stability, high productivity and an opportunity to make a reasonable return on investment,â€ said Shawn Rasey, Vice President, Bridgestone Firestone Off Road Tire Company, a division of BFNT. â€œThe Bloomington plant is playing an important role in helping the company serve the needs of our customers who demand world-class heavy-duty tires.”
Pirelli Now Producing Full Line-up in China
Tire Review Online, January 9, 2008
Bridgestone Plant Expansion
It’s good economic news for the Twin Cities…Bridgestone Firestone is expanding its off-road tire plant here.
The company says the expansion will double the plant’s giant loader tire curing capacity, and produce new sizes of off-road tires. It also expects to invest a minimum of $12 million over the next five years and add 50 jobs this year.
B-F executives made the announcement official at a Wednesday news conference. â€œAs we have stated many times, we will continue to invest in our key facilities where there is stability, high productivity and an opportunity to make a reasonable return on investment,” said Shawn Rasey, Vice President, Bridgestone Firestone Off Road Tire Company. “The Bloomington plant is playing an important role in helping the company serve the needs of our customers who demand world-class heavy-duty tires,â€ he said.