Current Issue
×

Top Stories

Title Issue Date Category Formats Records Price
Polyurethane-filled holes improve Wilson's swing
View Description View Full Details
CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons.The new golf clubs incorporate Power Holes, which are through-holes that surround the club's...
View Full Details »
CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons. CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons. $CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons.
Editorial: Two deals show medical to remain a hot business area
View Description View Full Details
As the rubber industry entered into the new year, it’s clear that the medical industry will remain one of great activity. That was exemplified by two acquisitions closed late in 2016 where...
View Full Details »
As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity. As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity. $As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity.
Withdrawal from NAFTA would cost U.S. jobs, study finds
View Description View Full Details
DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement (NAFTA) and pursue more protectionist trade policies likely would have a negative effect...
View Full Details »
DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals. DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals. $DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals.
Semperit, Sri Trang demerge Thai gloves JV
View Description View Full Details
VIENNA—Austrian rubber company Semperit A.G. and its Thai partner Sri Trang Angro-Industry P.L.C. have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series...
View Full Details »
VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners. VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners. $VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners.
Nexen, Toyota Tsusho establish sales JV
View Description View Full Details
TOKYO—Nexen Tire Corp. has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese...
View Full Details »
TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers. TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers. $TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers.
Kanodia sentenced for Cooper-Apollo insider trading scheme
View Description View Full Details
BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed...
View Full Details »
BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres. BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres. $BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres.
Wacker to add fumed silica plant at Tennessee campus
View Description View Full Details
CHARLESTON, Tenn.—Wacker Chemie A.G. intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. Construction is...
View Full Details »
CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. $CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston.
Thailand building auto test center to support tire, NR sectors
View Description View Full Details
BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing ...
View Full Details »
BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries. BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries. $BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries.
Nexteer, Continental to form joint venture
View Description View Full Details
DETROIT—Nexteer Automotive Corp. and Continental Automotive Systems Inc. will form a joint venture to supply safety systems for autonomous cars.In an announcement Tuesday at the North...
View Full Details »
DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars. DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars. $DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars.
Toyo plans North American expansion
View Description View Full Details
WHITE, Ga.—Toyo Tire & Rubber Co. Ltd. plans to expand its North American research and development center, setting up a dedicated business development unit for the market. The firm, in...
View Full Details »
WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market. WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market. $WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market.
Digital Edition
Digital Edition
Published on September 5, 2005

New identities: Two African tire manufacturers change names, technical partners

Have a question? Need some help?
Click here to view the FAQ

Tags

Date Published September 5, 2005
Category

Two of Africa's tire makers-Firestone East Africa Ltd. in Kenya and Addis Tyre Co. in Ethiopia-have changed identities and technical partners.

Firestone East Africa, originally a subsidiary of Firestone Tire & Rubber Co. founded in 1969, recently changed its name to Sameer Africa Ltd. It is severing ties with Bridgestone Corp. and seeking a new technical supply partner.

Addis Tyre, a relatively small independent maker dating back to 1972, is now Matador-Addis Tyre, majority owned by Matador A.S. of the Slovak Republic. The ownership change meant Addis severed technical ties with Yokohama Rubber Co. Ltd.

Sameer Africa's technical agreement with Bridgestone will expire Sept. 30 and won't be renewed, according to Sameer Africa Chairman Naushad Merali's statement in the company's 2004 annual report.

Instead, the firm intends to strengthen the company's technological capability and build on its expertise that spans 35 years, Merali wrote. Sameer Africa has opportunities to build new strategic alliances with technical partners so it can keep up with global tire trends, he wrote.

A Bridgestone spokesman in Tokyo said the cancellation of the contract to provide technical assistance to Sameer Africa also was followed by the cancellation of the contract between Bridgestone and Sameer to use the Firestone name. However, Bridgestone will keep Sameer Africa as a distributor and plans no changes in its business operations in Kenya.

Sameer Africa will create a new brand name for its products, according to reports.

Bridgestone holds a 14.9-percent share in Sameer Africa while Sameer Investments Ltd. owns a 64.9-percent share. Bridgestone didn't say if it intends to sell its share.

In 2004, Sameer Africa's net earnings surged 75.5 percent to $3.45 million compared with 2003 levels. Sales rose 28.8 percent to $41 million. Tire sales also jumped 30.7 percent from 2003 to $38 million.

The positive results occurred despite a 14-percent increase in material costs caused by rising raw material and petroleum prices as well as increased power costs, according to Merali. The firm's profitability improved because of increased sales, greater factory efficiency and prudent cost management, he said. A greater focus on export markets also helped as sales in that sector climbed 57 percent.

Sameer Africa also made a capital investment of $2 million to upgrade and expand its truck and bus tire facility in Nairobi. Besides tires, Sameer Africa produces tubes, flaps and tire mounting grease.

Matador's joint venture agreement with Addis Tyre dates back to 2004 but only recently the firm disclosed plans to invest $40 million in the Addis Ababa, Ethiopia, plant to add radial capacity and double annual output to 500,000 units by 2006 and to 1 million units by 2008. Radial capacity should eventually supplant bias-ply, which makes up nearly all of the site's capacity now.

The expansion will allow Matador-ATC to expand its export business into the countries of the common market of East and South African states and pursue a goal of boosting its domestic market share to 50 percent, according to Matador President Stefan Rosina. Matador owns 61 percent of the venture, which also operates its own rubber plantation.

In addition, Matador operates a joint venture firm in Russia with Omskshina.