Xstrata predicts new commodities boom

Bridgestone Ups Ag Tire Prices

Rubber May Drop as Strong Dollar, Prius Recall May Hurt Demand

Tit-for-Tat: Duties on Chicken Response to Tire Tariff

Commodities Drop Most Since August on Demand Concern

Michelin increases tire production in China and India

Goodyear plans 63-inch OTR launch for 2011

Customers to benefit from OTR / County joint venture
 

Plans For Washington Tire Plant Resurface, Expand

Thai Rubber Factories Face Tight USS3 Supply; Prices Up

CNBC: China Bubble Ready to Burst

Japan's Industrial Production Rises Most in 56 Years

June 28, 2009 Bloomberg - USA

"The impact of China's infrastructure building has started to emerge," Taizo Kayata, senior executive officer in charge of China operations at Komatsu Ltd.,
 

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Caterpillar suffers amid economic downturn

June 28, 2009

It also faces strong competition, such as from Japan's Komatsu in the Chinese market. Caterpillar earnings are expected to decline 79 percent this year ...

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E.U. Says Europe Faces Deep Recession

MAY 05, 2009

The commission, the executive arm of the European Union, forecast in its spring quarterly economic forecasts that gross domestic product in both the European Union and the euro area would contract by 4 percent this year and by 0.1 percent next y

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TOPWRAP 2-Emerging giants offer hope global economy turning

MAY 04, 2009

SINGAPORE, May 4 (Reuters) - The manufacturing sectors in China and India grew for the first time in months in April, surveys showed on Monday, offering evidence the global economy may be through the worst of its sharpest slump in six decades.

The latest signs of "green shoots" from the world's emerging giants followed U.S. data on Friday that showed a rise in consumer confidence and suggested manufacturing conditions were gradually improving, helping push Asian stocks to seven-month highs on Monday.

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Consumer, manufacturing indexes signal economic recovery

MAY 04, 2009

The economy may be on the road to recovery, according to recent manufacturing and consumer confidence figures. The factory index released in March by the Institute for Supply Management rose from 36.3 to 40.1.

An index reading below 50 indicates a contraction. Meanwhile, an index of consumer sentiment released by Reuters/University of Michigan climbed to 65.1 and posted its largest increase in two years.

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Caterpillar CEO urges another round of infrastructure stimulus

MAY 04, 2009

Jim Owens, the chairman and chief executive officer of Caterpillar, urged the U.S. government to consider another round of stimulus spending for infrastructure.

The $787 billion stimulus package allocated $70 billion for infrastructure this year, which translates to 6.5% of 2008 total construction spending

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Gold price is not going to $2,000 an ounce

MAY 04, 2009

Before you gag on your coffee or suffer chest pains, allow me to explain.

We’re about eight years into the bull market, and gold has breached the $1,000 level twice and has spent weeks trading above the old high of $850. Some observers are now saying that gold’s pretty much had its day and that once the recession is over, it will retreat for good.

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Bay Street Stocks Surge More Than 2% On Higher Commodity Prices - Canadian Comm

MAY 04, 2009

(RTTNews) - Resource stocks received a boost from rising commodity prices again on Monday as Toronto's main index climbed notably higher again. With the rally, the index rose above 9,600 for the first time since November.

The S&P/TSX Composite Index added 192.14 points or 2.02% to move at 9,688.85. Bay Street's major index added to sharp gains from the previous session and moved above a resistance level.

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Apollo to Decide on European Plant After Acquisition

MAY 04, 2009

"No option is closed out for us in Europe. However, once the integration process with Vredestein Banden BV is over, we will be better placed to take a concrete call on Hungary or another manufacturing unit in Europe, depending on the global and European economic conditions and European market needs," Apollo Tyres Vice-Chairman and Joint MD Niraj Kanwar told PTI.

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Natural rubber prices up

MAY 03, 2009

Natural rubber prices which dropped drastically last November, had increased during the past few weeks.

The Director General Rubber Development Department Wimal Rubasingha said that the trend of price increase of natural rubber could be seen in the local market and the international market during the last few months.

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More Layoffs Planned at Bridgestone OTR Plant

MAY 01, 2009

The latest layoffs, effective at the end of work yesterday, involve hourly workers making smaller to mid-sized off road tires, for which demand has shrunk.

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Titan reports sales, income declines

April 29, 2009

Titan International Inc. posted sales of $232.6 million on net income of $7 million during the first quarter of 2009. That compares to sales of $253.5 million on net income of $8.1 million achieved during the first quarter of 2008.

On the upside, Titan reports that its agricultural product sales totaled $187.3 million during the quarter, an all-time high for the company, vs. $173.5 million in the first quarter of 2008.

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Munk forecasts currency, economy fears will send gold to new record highs

Friday , 30 Jan 2009

Gold is likely to hit new record highs, spurred by serious concern about the U.S. currency and doubt about the state of the world economy, the chairman of Barrick Gold Corp. said on Thursday.

There was even a possibility, although not a probability, central banks, including China's, might start to switch from dollar holdings to gold, which could cause the metal's price to treble or more.

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Bridgestone OTR Plant to Double Giant Tire Production

Publish date: Jan 27, 2009

Bridgestone Firestone Off Road Tire eventually will be able to produce 70% to 80% more of the giant tires because of the new machinery, said plant manager Greg Halford.

Parent company Bridgestone Firestone North American Tire in Nashville, Tenn., provided $5.5 million for all of the transportation costs and components of the plant’s new giant pot heater, which is used in the final stage of the tire-making process, Halford said. Read More»

Small OTR tire supply improving

Publish date: Dec 30, 2008

Giant OTR tires may still be in short supply, but supply of smaller OTR tires, including 25-inch tires, continues to catch up with demand.

"There is a prominent overstock of small bias and radial tires right now," Gary Nash, director of OTR sales for Yokohama Tire Corp., recently told www.moderntiredealer.com. Read More»

Titan chief forecasts prosperous New Year for the off-road tire company

Publish date: Dec 22, 2008

Titan International Chairman and CEO Maurice M. Taylor Jr. has presented his goals for the company in 2009, including a look at 2008’s results.

In December 2007, Taylor stated that Titan should end 2008 with $920 million to $1 billion in revenue; at this point he believes Titan’s 2008's revenues could top $1 billion. Read More»

Apollo may sell OTR tires in North America

Publish date: Nov 25, 2008

Indian tiremaker Apollo Tyres Ltd. sees the OTR tire market as a "very big opportunity in the future," especially in North America, says Neeraj Kanwar, Apollo's vice chairman.

"That will be our foray into North America," he recently told www.moderntiredealer.com. Apollo will start manufacturing 63-inch OTR tires next year. Read More»

Titan CEO says revenue will rise in 2009

Associated Press, 12.08.08, 02:19 PM EST

Titan International Inc., which makes wheels and tires for large off-road vehicles used in construction and other industries, should post revenue of $1.175 billion to $1.35 billion next year, up from about $1 billion this year, the chief executive said Monday.

Shares of the company jumped $1.55, or 24 percent, to $8.02 in afternoon trading. They have plunged since hitting a 52-week high of $37.99 in July.

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Tire Tips to Take to the Bank

Equipment Today, July 10, 2008

The recent shortage of earthmover tires has taught contractors a lot about the role tires play in the overall cost of doing business. "The tire shortage that plagued the industry for the previous years has lightened significantly," says Cara Junkins, director of sales and marketing, Titan. "During that time though, a lot of operators learned how to watch tire costs and do what was necessary to elongate the life of their tires." Read More»

Takeover targets: Australian mining services

International Herald Tribune, July 10, 2008

HONG KONG: Riding the commodity boom but struggling with costs, the mining services industry looks headed for a batch of takeovers.

While the sector is no stranger to acquisitions, slowing growth has buried stock prices of many companies this year, making them more affordable to prospective buyers.

One deal already under way is a 436 million Australian dollar, or $418 million, hostile bid by the Australian construction company Macmahon Holdings for the mining and utilities contractor Ausdrill. Macmahon is looking to bulk up as its principal mining customers also merge. Read More»

MMTC keeps to plan of marketing Chinese commercial vehicle tyres

Hindu Business Line, July 10, 2008

Notwithstanding the negative impact of a depreciating rupee, MMTC sticks to its plan of marketing Chinese commercial vehicle tyres - primarily radial tyres - in India.

The public sector trading major has already identified a US-based tyre maker having a production base in China as the possible source of imports on a long-term basis. The first bulk order is expected to be placed in September-October.

Plans on import of high tonnage OTR (off-the-road) tyres are yet to be firmed up due to an availability crisis. Such tyres are primarily used by the mining industry in earth-moving equipment. Read More»

Lawmakers: Cheap Chinese tires threaten U.S. jobs

Associated Press, July 8, 2008

Lawmakers say more than 1,000 tire manufacturing jobs in Iowa and Illinois are threatened by unfair competition from low-priced Chinese tire imports.

Illinois Congressman Don Manzullo has constituents in Freeport who work for the Titan Tire plant. He says he does not know how much more Midwest communities can take after losing one industry after another.

He was one lawmaker who testified before the U.S. International Trade Commission, calling for a level playing field for American manufacturers of the off-the-road tires used in agriculture and mining.

The U.S. Commerce Department imposed anti-dumping duties on their tires earlier this year.

The trade commission will either recommend President Bush keep the duties or take other action against the Chinese.

U.S. Rep. Boswell: Will Testify Before The International Trade Commission

Iowa Politics.com, July 7, 2008

CONGRESSMAN BOSWELL TO TESTIFY BEFORE THE INTERNATIONAL TRADE COMMISSION TOMORROW, TUESDAY, JULY 8

IN SUPPORT OF RELIEF UNDER U.S. TRADE REMEDY LAWS FOR TIRE MANUFACTURERS IN 3 RD CONGRESSIONAL DISTRICT

Congressman Leonard Boswell will be testifying before the International Trade Commission (ITC) in support of a petition filed by the Titan Tire Corporation, which has a plant in Des Moines, and the United Steel Workers (USW) seeking relief under U.S. Trade Remedy laws. Titan and the USW brought a case to the U.S. International Trade Commission concerning China dumping off-the-road (OTR) tires in the U.S.

Last December, the Department of Commerce preliminarily determined that the Chinese Government was unfairly subsidizing Chinese OTR tire producers and is expected to make a final decision today, Monday, July 7, 2008. It is expected that the ITC will vote as to whether the domestic industry is materially injured or threatened with material injury by Chinese imports on August 11th.
 

COPPER MINING - $100M equipment ordered for Gibraltar

Canadian Mining Journal, July 6, 2008

BRITISH COLUMBIA – Vancouver's TASEKO MINES has ordered mining and milling equipment worth $100 million for the expansion of its Gibraltar copper-molybdenum mine at Williams Lake. The company has entered into agreements to buy two Bucyrus 495 shovels, a Bucyrus 409R production drill, four 240-t Terex trucks and a 8.5-m semi-autogenous mill (SAG).

Delivery of the equipment will take place over the next two years. The trucks will arrive later this year, one shovel and drill will arrive in the spring of 2009, and the second shovel in late 2009. The SAG mill and motors should arrive in May 2010 for commissioning by August that year. The addition of the SAG mill will boost milling capacity by 30,000 t/d, bringing total mill capacity to 85,000 t/d.

Titan 63-inch Radial Gets OK

Tire Review, July 2, 2008

Triangle Presents Diamond Back Range at Reifen

Tire Review, July 2, 2008

Senior Goodyear Experts to Speak at American Tire Corporation

American Tire Corporation (ATC) is pleased to announce that it will have a number of speeches on Goodyear and its OTR tires from Goodyear OTR tire experts at ATC's California facility on June 23 and thereafter.

As part of ATC's effort to buy Goodyear's Topeka OTR tire plant, such speeches will be delivered by senior Goodyear experts with an OTR tire experience of more than 70 years in total. ATC's local employees will have opportunities to attend such events and know more on Goodyear and its OTR tires. Q&A sessions will be followed.

ATC is going to set up a negotiation team late this year to negotiate with Goodyear. Such events will be held on a regular basis until its purchase of Goodyear's Topeka OTR tire plant is finally realized.

With the objective to become the largest and best manufacturer for 63" and 57" tires, American Tire Corporation is a well-established OTR tire manufacturer which has a number of operations in different US states and other countries. ATC has created several "firsts" in the OTR tire industry.

Bigger is better -- Yearwood Tire focuses on giant OTR tire retreading, repair

Modern Tire Dealer, June 20, 2008

Talking with John Yearwood, it doesn’t take long to realize he’s a person who enjoys his work. “It’s neat to be able to retread the largest tires in the world,” he says. “There aren’t that many of us out there!”

His company, Yearwood Tire, a single-location dealership in Victoria, Texas, specializes in giant OTR tire repair and retreading. In fact, that’s all the company does.

“We just took delivery of a 170-inch curing kettle,” says Yearwood, who runs the company with his son, Scott. The kettle -- which was made by Melco Steel Inc. in Asuza, Calif. -- stands 16 feet tall, is 17 feet wide and weighs 65,000 pounds.

It represents a total investment of $500,000, according to Yearwood, who says his company has more than enough volume to justify the expenditure. “We’re retreading about 80 giant OTR tires a month.” Read More»