Thailand, Indonesia and Malaysia have announced that they are seeking tenders to create a regional rubber market. These three countries currently produce 65% of the world’s natural rubber but do not have a futures market. They have had to rely on exchanges such as the Shanghai Future’s Exchange (SHFE), the Singapore Exchange (SGX) and the
Stock markets have punished Apollo Tyres for its audacity in daring to seal the biggest overseas deal in India’s corporate history – the acquisition of US-based Cooper Tire and Rubber. The share price of Apollo has fallen by around one third since the deal was announced. I’m trying to work out if this is justified
Apollo Tyres is to buy Cooper Tire and Rubber. The cash purchase price is around USD2.5 billion (USD 2,500,000,000). That’s about 60 percent of annual sales. Quite a low price for this kind of deal. Apollo statement | Cooper statement My own view is that Apollo has done well to finally negotiate this one. I
Although the theme of this year’s World Rubber Summit asked whether the road ahead is to be bleak or bright, perhaps a better theme might have been sustainability. This was the over-riding message to come out of this year’s high-level meeting in Singapore. Speaker after speaker referred to the need to move toward a more
A conference in Berlin has crystallised an intense debate about the EU Tire Label. The event, organised by Marcus Evans Events took place on Tuesday and Wednesday this week (16, 17 April). It is still too early to say anything about the success or otherwise of the EU Tire Label. Early indications suggest that there
Trawling the web this morning, I came across this image. It is taken from the Renault website. Renault launched this concept vehicle — the Twin’z — at the Milan Triennale this week. The Triennale is a festival of outstanding design. It’s not a car show. The Triennale audience is more used to fashion and product
Tire manufacturing in Europe is going through something of a crisis. In January Goodyear announced the closure of its factory in Amiens-North. Last month Bridgestone announced the closure of its factory in Bari, Italy. None of this has provoked much debate Rumours that Michelin will reduce its output, however have triggered a string of comment
Three key stories emerged from the opening day of the Geneva Motor Show. ETRMA members met in Geneva and agreed to work together to help governments enforce the EU Labelling scheme Tire makers see the EU car tire sales downturn as structural – no recovery any time soon. BMW once again leads the OE field
Anyone who follows the news will have seen the letter from Titan CEO, Maurice (Morry) Taylor to the French Industry Minister, Arnaud Montebourg. It suggests that French workers are lazy and unproductive. Taylor adds that he has no interest in buying the factory in Amiens from Goodyear. Rather than take on the French unions, he
Tire companies are reporting their results. So far Michelin, Goodyear, Yokohama, Toyo, Nokian, Hankook and Nexen have all reported for 2012. Indian companies Apollo, MRF, JK and Ceat also reported for the quarter ended December 2012, but their financial year runs from April to March, so they will not report full-year figures until May. Premium
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