Nexen Tyre Co. has announced its plans to increase production at its Chinese plant in Qingdao from eight to 10 million units this year. Speaking in front of around 100 Chinese dealers at the 2013 Nexen Tyre Annual Awards in Yunnan, China, Nexen said it also plans to expand its sales activities with more intensive regional marketing and innovate market-specific products from its Qingdao research and development center. During the three-day dealer conference, awards were…

Cooper Tire & Rubber Co. saw a modest decline in net income for 2012, but posted record fourth quarter and full-year sales. For the year, Cooper listed sales at $4.20 billion, up from 2011’s $3.91 billion. The fourth quarter saw record period sales of $1.1 billion, 2% ahead of 2011’s final frame. Net income for 2012 of $220.4 million was down from 2011’s $253.5 million, heavily due to the fourth quarters in both years; in…

It turns out that 2012 was a good year for Bridgestone Corporation. The Japanese tyre and rubber products manufacturer achieved a 66.8 per cent increase in net income during the period, taking in a healthy 171.6 billion yen (£1.18 billion). This jump in profit was achieved despite sales remaining relatively level; these increased 0.5 per cent to 3,039.7 billion yen (£20.94 billion). Operating income rose 49.5 per cent to 285.9 billion yen (£1.97 billion) and…

Yokohama Rubber Co. said it plans to invest 500 million yen to increase the annual production capacity of Yokohama R.P.Z., a Russian subsidiary for manufacturing and selling tires, from the current 1.4 million units to 1.6 million tires. Yokohama sells 3 million tires in Russia each year – more than twice that of its local production capacity. The investment, which will add capacity to the existing plant, is aimed at resolving this gap as much…

Feb 13 (Reuters) – Growing interest from local farmers helped Ivory Coast’s natural rubber output reach 255,000 tonnes in 2012, up more than six percent from the previous year, the head of the its natural rubber association said on Wednesday. Ivory Coast, the world’s top cocoa grower, is also Africa’s leading rubber exporter with output of 240,000 tonnes in 2011 – more than half of the continent’s total production. Rising oil prices have fueled demand…

India’s JK Tyre and Industries Ltd attributes much of its improved profitability in the three months to 31 December 2012 to its strong performance in the truck and bus radial sector. Despite an overall slowdown in the Indian market and a slump in orders from OEM customers, the tyre maker recorded a net profit of Rs 211.4 million (£2.5 million) in its 2012-13 third quarter. This compares with a net loss of Rs 213.1 million…

Upon reporting increased sales and profit in 2012, Finland’s Nokian Tyres shared its projection for replacement market growth this year in its main markets. Nokian anticipates demand for replacement passenger car tyres will grow one to two per cent in Europe, two per cent in Nordic countries and two to five per cent in Russia. Admittedly, the tyre maker concedes the pricing environment for all tyre categories will be “challenging” this year, although margins will…

Goodyear Tire & Rubber Co. saw 2012 full year sales fall 8% vs. the year prior, while operating income fell by $120 million compared to 2011 results. 2012 was not a good year for the Goodyear Tire & Rubber Co. The tiremaker saw full year sales fall 8% vs. the year prior, while operating income fell by $120 million compared to 2011 results. The fourth quarter was particularly hard, with quarterly sales falling 11% year-over-year…

Despite “sharp market contraction,” Groupe Michelin saw its 2012 sales and net income rise. 2012 sales came in at $28.35 billion, up year-over-year from $26.83 billion, while net income grew 7.4% to $2.14 billion. Those results came even as tire unit sales were down 6.4% YoY, the company reported. “Given its global footprint, Michelin expects to hold volumes steady in 2013, in a market environment that is uncertain in mature markets but still expanding in…

Feb. 6, 2013 — A group of international scientists has sequenced the draft genome sequence of the rubber tree Hevea brasiliensis, the major commercial source of natural rubber. The manuscript describing the draft genome is published in BMC Genomics. Scientists have sequenced the draft genome sequence of the rubber tree Hevea brasiliensis, the major commercial source of natural rubber. Rubber is an indispensible commodity that is used in manufacture worldwide, billions dollar industry. The plant…