Currently, natural rubber prices are ruling at a historic high of over Rs 116.50 a kg. The average price of natural rubber in October last year was Rs 95 a kg. The charging of cess from the consuming interests is only adding to the rising input costs especially for the tyre sector, ATMA said in a statement issued here. More
Courtesy: www.indiacar.net
Archive for the 'tyres' Category
For the full year, net profit rose 93.38 per cent to Rs 219.3 crore against Rs 113.4 crore. Net sales increased 12.19 per cent to Rs 3,693.9 crore (Rs 3,292.3 crore).
The company cited the increased tyre prices announced last year as the key reason in reflecting higher profitability during the FY 2007-08. The board has recommended a dividend payout of 50 per cent. More
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The rise in the price of natural rubber as well as the price of crude oil affect rubber prices, as synthetic rubber is a crude oil derivative, said analysts.
Despite the Government ban of rubber futures, the price of rubber moved up in today?s market.
More
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Kesoram plans to raise tyre output capacity at Uttarakhand unit
Published May 5th, 2008 in tyres. 0 CommentsThe company board had approved the proposal setting commercial production timeline for the new project by early 2010. More
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MRF expects to double its production capacity by the end of 2009 when its greenfield project for radial tyres would go on stream in Tamil Nadu.
MRF is planning a Rs 900 crore investment to set up a car-and truck-tyre manufacturing unit with a capacity to produce over 7-lakh tyres a month. The unit is to come up in Perambalur, near Tiruchi.
According to the company?s spokesperson, at full capacity, the unit will effectively double MRF?s production capacity for radial tyres. Initially, it will produce about 3.5 lakh radial tyres, primarily for cars, with the production to be ramped up in stages. Read more
Courtesy: indiacar.net
Indian tyre makers are likely to raise prices again in about two months to combat increasing input costs due to a spike in rubber prices, industry officials said. Earlier this month, major tyremakers such as Ceat and JK Tyre had raised product prices by 5 percent, while MRF increased it by 2 percent.
Rubber prices, which make up 60 percent of the cost of tyres, have risen more than 22 percent in 2008, according to Rubber Board data. Natural rubber rose on a tight supply, while high crude oil prices pushed up synthetic rubber. Read more
Courtesy: indiacar.net
The Automotive Tyre Manufacturers Association (ATMA) has urged the Government to reduce the custom duty on natural rubber imports to 7.5 per cent from 20 per cent.
Mr Rajiv Budhiraja, Director-General, ATMA, said: ?With the custom duty on tyres at 10 per cent and on natural rubber at 20 per cent, a serious situation of inverted duty structure has obtained whereby the duty on raw material (natural rubber) is significantly higher than the duty on the finished product (tyres). The situation contravenes the current policy of the Government to encourage value addition through indigenous production of finished products.? More
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Market research firm JD Power and Associates has awarded highest ranking in terms of customer satisfaction to Indian tyre manufacturer MRF.
“MRF ranks highest in customer satisfaction with original equipment tyres among the five tyre manufacturers,” according to 2008 India Original Equipment Tire Customer Satisfaction Index (CSI), study released by J D Power and Associates on Tuesday said. More
Courtesy: indiacar.net
JK Tyres plans to invest Rs 480 crore this year to increase capacities of both its truck and passenger radial tyres, a senior company official said.
“We plan to invest Rs 480 crore to increase our capacity of radial tyres,” the company’s President Arun Bajoria told PTI here.
He said of the Rs 480 crore investment planned for this year, Rs 315 crore would be spent on augmenting its truck radial tyre capacity to 8 lakh tyres from the existing 3.67 lakh tyres and another Rs 120 crore on increasing the off-the-road (OTR) tyre capacity. More
Courtesy: www.indiacar.net
Tyre industry seeks changes in inverted duty structure
Published February 4th, 2008 in tyres. 0 CommentsHigher raw material prices compared to the cost of importing finished products have compelled the Indian tyre industry to seek a correction in the inverted duty structure and a waiver on certain raw materials not manufactured locally in the upcoming Budget.
Amidst concerns of losing ground to countries such as China and South Korea that currently contribute to about 60 per cent of overall passenger car tyre imports and 80 per cent of commercial vehicle tyre imports, the domestic industry has asked the Government to take measures that would make it competitive in the global markets. More
Courtesy: www.indiacar.net
