Kuching: Kossan Rubber Industries Bhd (Kossan) expects to double its gloves production capacity to 32 billion pieces a year by 2017 to meet the rising demand. The production expansion is also expected to sustain its earnings growth by 20 to 25 per cent for the next three years. The gloves and rubber products manufacturer has produced 16 billion pieces of gloves as of last year and is on track to meet its capacity production of…

The two-wheeler tyre market in Indonesia is set to grow at a compound annual growth rate (CAGR) of 17.98 per cent 2013-2018. That’s the view of a new report published by Research and Markets in January. According to the report’s writers one of the key factors contributing to this market growth is the strong demand for two-wheelers. The two-wheeler tyre market in Indonesia has also been witnessing growing demand for replacement tyres, which is likely…

BRUSSELS—The European replacement tire market stabilized at the end of 2013 after significant decreases in shipments earlier that year, the European Tyre & Rubber Manufacturers’ Association reported. The worst numbers were in the consumer tire sector, which fell 1 percent in 2013 to 192.7 million units, compared with 194.6 million in 2012, the ETRMA said. On the other hand, agricultural tire shipments ended up growing 1 percent, to 1.675 million from 1.652 million, and motorcycle…

ETROIT—Continental A.G. exceeded its earnings goals for fiscal 2013, recording a pre-tax operating income margin of 11.2 percent on slightly higher sales, CEO Elmar Degenhart reported prior to the start of the 2014 North American International Auto Show in Detroit. “Our strong commitment has paid off,” he said, “we were able to more than offset the economic limitations in southern Europe and some emerging markets.’ Conti achieved its earnings targets despite “considerable” negative exchange rate…

On 17 January, the board of Hankook Tire resolved to invest KRW 380.2 billion (£215.7) in the second stage expansion of the company’s factory in Indonesia. In a statement filed with the Korea Exchange (KRX), the tyre maker said the period of investment would extend until the end of 2015 and involve an 11.8 per cent ratio to equity capital.

Rubber production in Thailand, the world’s biggest supplier, will probably increase for a fourth year in 2014 because of an increase in acreage, according to the Office of Agricultural Economics. Output may rise 4.3 percent to 4.03 million metric tons from a year earlier, the Bangkok-based office said in a statement today. Tapping area is expected to increase to 15.8 million rai (2.5 million hectares) from 11.6 million rai in 2009, it said. Futures traded…

The curtain has come down on a saga that made tyre industry headlines last year. On 30 December, Cooper Tire & Rubber announced its termination of the merger/acquisition agreement between it and India’s Apollo Tyres. The US tyre maker gave word of its action a day before the agreement was due to expire. “It is time to move our business forward,” wrote Cooper chairman, chief executive officer and president Roy Armes in a statement. “While…