SEOUL, South Korea (Feb. 8, 2017) — Hankook Tire Co. Ltd. is targeting 15-percent revenue growth in fiscal 2017 after reporting a 24.7-percent better operating profit for fiscal 2016 on 3.1-percent higher sales. Hankook said it plans to focus on expanding aftermarket sales in the ultra-high-performance segment, as well as in the premium OE segment, to achieve its goal of exceeding $6.25 billion in sales. For fiscal 2016, Hankook reported operating income of $951.1 million…

In its year-end 2016 report, Sweden’s Trelleborg AB states that its Board of Directors has “decided to make a major investment” in Trelleborg Wheel Systems’ tyre operation in Serbia in order to improve the facility’s footprint and increase production capacity to accommodate additional future sales. The Serbian plant in question is located in Ruma. It came into the Trelleborg fold through the company’s acquisition of CGS Holding, parent company of tyre maker Mitas. Plans to…

The new Greenfield tire plant will be built in the Province of Rayong in Thailand Starting operations in 2019 the tire plant will be ramped up to about 4.0 million passenger and light truck tires per year for Thailand and the whole APAC region Investments of around € 250 million and nearly 900 new jobs in Thailand by 2022 The international technology corporation Continental finalized the site selection process for its new passenger and light…

Michelin North America Inc. will increase prices up to 8% for its passenger, heavy-truck, earthmover, industrial-handling, agriculture and two-wheel segments across all brands in North America. The company says the increase will be implemented separately by individual segments; customers will be notified directly with specific details. Michelin didn’t say how quickly it will roll out the price hikes. Michelin says this represents its first increase since 2012. The company is the sixth to announce price increases…

TAIPEI (Taiwan News) — The price of butadiene, the main raw material in synthetic rubber, reached a 56-month high at US$3,070 per metric ton. The price has doubled over the last three months. Industry insiders said that the price of high-grade butadiene has reached an unaffordable level for some rubber manufacturers, forcing them to use lower-grade butadiene or to halt production of final products, Apple Daily reported. Some insiders believe that the price increase will continue after the Lunar…

First came drought, then came floods. Rubber farmers in Thailand’s south are counting the cost of extreme weather in the world’s top growing region. “From afar the trees look withered,” said 67-year-old Reang Onnuan, a lifelong rubber grower, looking out at the sea of water from which her trees protruded. “I don’t know if tens or hundreds have already died,” she said, describing it as the worst flood she had ever seen. Weeks of flooding…

Traders and industry officials are optimistic that rubber prices will start rising from this year as the global economy recovers and demand is set to exceed supply. Rubber prices have been struggling since plunging in the first quarter of 2016. Although demand is expected to be flat this year, especially as the car industry continues to struggle, the recent flooding in the South, Thailand’s major rubber growing area, and measures among major rubber producing countries…

Tire manufacturer Kenda Rubber Industrial Co (建大輪胎) yesterday said it plans to increase its production capacity in Vietnam to meet rising demand. The new plant in Vietnam is scheduled to begin operations in the third quarter of next year, with an estimated daily capacity of 25,000 units. It would supply car tires to customers in the US to take advantage of Vietnam’s low-tariff status and maintain the company’s price competitiveness over global rivals, Kenda said. Kenda produces most of its car tires…

KOCHI: Natural rubber consumers, the tyre industry in particular, anticipate subdued growth in the first half of 2017, even as producers expect better prospects this year with an increase in prices. The prices of the commercially important RSS 4 variety are at a five month-high of Rs 139 per kg. The prices of the commercially important RSS 4 variety are at a five month-high of Rs 139 per kg. “The bullish trend will continue as the demand in China,…

The FOB Korea benzene marker surged $102/mt, or 12.4% week on week, to be assessed at a 25-month high of $926/mt Tuesday, amid firm Chinese demand and few spot availability in the FOB Korea market. It was last assessed any higher at $972/mt FOB Korea on November 27, 2014, according to S&P Global Platts data. Benzene prices in Asia have been hovering below $700/mt through most of 2016, climbing above $900/mt only once in December at $910/mt on December 8, 2016,…