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Tyre companies hope for ‘achhe din’ with fall in Chinese imports
KOCHI: The slowdown in China’s tire imports and the growth in automobile sales over the past few months have given hope to the Indian tire industry. After a prolonged slump, the Indian tire industry is expected to grow in the fourth quarter of the current fiscal. According to the tire industry body, the Automotive Tire Manufacturers Association (Atma), imports of truck and bus midday tires (TBRs) have declined by about 50% to 75,000 tonnes per month since the government imposed anti-dumping duties in September. The domestic market is also showing signs of decline. Resurrection will take a long time. Atma Rajivi Budhraja He said, “Tire sales for trucks and buses are on the rise.” “The performance of passenger cars has been steady over the past few months. Replacement and original equipment parts for vehicles are performing well.” However, Badiraja pointed out that this improvement is coming from the low levels of a year ago. The domestic tire ind...
ElmaJonson
52
May 30, 2024
Tyre industry asks govt to allow duty-free import of carbon black
Carbon black supply-demand gap widens from 14% last year to 20% in 2018. Atmama. Takashi: The Indian tire industry has requested the government to allow the tire industry to import carbon black duty-free. Many tire companies in the country have been forced to impose anti-dumping duties on Chinese imports to regulate exports and address the shortage in the market due to shortage of carbon black supply in the country. In a statement to the Department of Commerce, the Automotive Tire Manufacturers Association (ATMA), factories will be closed in the near future. The gap between demand and supply of carbon black in the domestic market reached 14% in FY 2016-17. This figure increased to 20% in fiscal 2018, industry sources said. Mohan, Head of Supply Chain and Resources, ATMA “In fact, the domestic tire industry often faces natural rubber (NR) fears of an overall supply shortage. The shortage of carbon black will only further exacerbate the difficulties of the tire industr...
OpheliaClement
45
May 30, 2024
Apollo Tyres to invest Rs 1800 crore in first phase in Andhra Pradesh
NEW DELHI: Apollo Tyres, headquartered in Gurgaon, on Tuesday said it will invest nearly $180 Chittoor, Andhra Pradesh, crore Rs 100 crore The area has set up a new manufacturing plant. The company has allocated the first phase of the resource development unit and purchased 200 acres of land. The construction of the project is expected to take place in the next 6 Tire production is expected to start in the next 24 months One month. With the growing demand in this segment, the company plans to start producing passenger car tires at the plant and then expand to other product categories. Andhra Pradesh Chief Minister N Chandrababu Naidu The plant says it will create jobs. “We are happy that Apollo Tyres, an Indian multinational company, which recently set up world-class plants in Chennai and Hungary, has now set up national-level plants. This will reach around 7000 people. It provides employment opportunities directly to people and indirectly to many more, which will ...
ChadBrown
42
May 30, 2024
Atma seeks commerce min help to resolve carbon black shortage
The PTI association said that there is a need to restrict the export of carbon black. Automotive Tire Manufacturers Association (Atma) Its members have offered to buy all inventories in the country as tire capacity utilization may fall by 10% in the current quarter as pressure on carbon black persists. Atma’s announcement comes after carbon black makers claimed there was no shortage and that production exceeded domestic demand. Atma carbon black makers have been asked to disclose their available inventory. Atma has sought the intervention of the Commerce Ministry to address the issue as an unexpected drop in tire production due to lack of supply of carbon black will force it to import more finished tires from India, thereby hampering value creation in the country. “The overstatement by carbon black manufacturers is quite different from the reality of the market. Even in the non-tyre rubber sector, as many as 1,000 rubber mills are bracing for the shortage. Acco...
RitaLily
58
May 30, 2024
Indian tyre makers rue shortfall of natural rubber
ET bureau Indian tire makers say there is still a “severe” shortage of natural rubber in the domestic market. As the domestic season continues, the industry has no choice but to import natural rubber, leading to higher costs, they said. According to data released by the Rubber Board, natural rubber production for the six months to September (NR) rose 5 percent year-on-year to 321,000 tons, while consumption rose 2 percent to 527,880 tons. The deficit was 39.2%, slightly lower than the same period last year (41.1%). Satish Sharma, Chairman, Automotive Tire Manufacturers Association (ATMA) “The grim situation in the natural resources industry continues. Domestic production remains well below domestic demand.” The Rubber Board had previously forecast natural rubber production at 800,000 tons in 2017-2018, up 16% from last year. However, ATMA said it is highly unlikely that production should increase by 24% in the second half of the year compared to th...
AbrahamGregory
46
May 30, 2024
PCBL to set up greenfield carbon black plant in Tamil Nadu for Rs 600 crore
AgencyPCBL Sanjiv chairman Goenka also plans to further increase its equity capital to Rs 4,000 crore (to Rs 500 crore by 2018), he said here today. Phillips Carbon Black Limited (PCBL) will build a new carbon black plant in Tamil Nadu and expand its two existing plants to brownfield sites in the next two years with a total capex of Rs 90 crore, a senior official said today. Exposed. This new initiative will further increase the capacity of the country’s largest carbon black producer by 50% to 70% million tons. PCBL also plans to raise another Rs 40-50 crore equity by 2018, Chairman (Sanjiv Goenka) said here today. “We are constructing a 150 Ennore per annum Ennore New Carbon Black Plant of 10,000 tons with an investment of Rs 600 tons crore in Ennore, Tamil Nadu. At the same time, we are also investing 300 crore,” said Ge Enca. When all the projects are completed in the next two years, the total capacity will increase by 50% to 700,000 tons. Kaushik ...
JessicaNorris
60
May 30, 2024
CEAT extends bat deal with Rohit Sharma by 3 years
Sharma added: Sharma added: “We are happy to continue this association. Mumbai-based tire manufacturer CEATT has renewed its three-year partnership with cricketer Rohit Sharma. Sharma, who is the first player in the history of cricket to score 300 runs in One Day Internationals (ODIs), will continue to use CEATT-badged bats in all forms of the game. Anant Goenka, Managing Director, Sharma said, “We are proud to be associated with Rohit in all forms of cricket. Our brand with Rohit CEAT has been very favorable and we are very happy with this long term association.” : “We are happy to continue our association with CEATT Collaboration and sincerely appreciate their support. Thank you, the last three years have been a very memorable and productive time for me. I look forward to continuing this relationship with this prestigious company for years to come. ‘ Sharma has been a consistent performer in all forms of the game. He captained the Indian crick...
MauriceMay
49
May 30, 2024
Tyre sector may grow 7-9% in 5 years buoyed by demand, lower crude
Over the last decade, the agency has significantly increased the capacity of the tire industry with a cumulative expenditure of about 2780 About 70% of the rupees is billion rupees, which it has spent in the last six years. Credit rating agency Icra said in a report on Monday that the Indian tire industry is likely to grow by 7% to 9% in the next five years on the back of a positive outlook for the domestic automobile industry. In its report, Icra also predicted that the industry will spend around Rs 2,000 crore on capital expenditure during this period. /p In addition, the domestic tire industry’s margins declined by 120 basis points in September compared to the same month last year, but are expected to improve and stabilize prices in the second half of this year due to lower crude oil prices. “This is thanks to the favorable outlook for the domestic automotive industry,” he said. Iqra said, “Demand for tires is expected to increase by 7-9% over the ne...
AlbertaBacon
53
May 30, 2024
Apollo Tyres ropes in Sachin Tendulkar as brand ambassador
NEW DELHI: Apollo Tyres on Thursday said it has partnered with Sachin Tendulkar as the company’s brand ambassador for the fifth consecutive year. This is the first time a company has hired a celebrity as a brand ambassador. Realizing the true potential of the Apollo brand by ensuring that Sachin Tendulkar is associated with our brand is key to our growth and I am confident that this partnership will help us grow further.” . Apollo Tyres is not only the global tire partner of Manchester United in the English Premier League, but also in the Bundesliga with Borussia Mönchengladbach. In India, it is the main sponsor of the Indian Super League (ISL) Chennaiyin Yes Football Club and the title sponsor of the I-League Minerva Punjab Football Club.
BernardThompson
52
May 30, 2024
Ceat extends warranty on tyres by three months
NEW DELHI: Ceat Tires on Friday said the warranty period has been extended as the company needs three months to support its customers due to a nationwide lockdown caused by the coronavirus. Ceat Tires, in a statement, said the company decided to extend the tire warranty during the ongoing blockade to show support to its customers. This extension applies to tires with a warranty that expires between March 1st and May 31st. “When we made this decision we had the safety of our customers in mind and we all follow the government’s guidance on social distance, but we wanted to make sure that our customers would continue to benefit from their warranty during these difficult times.” Ceat Tire COO.
PennyGracie
58
May 30, 2024
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