STC TO SELL NR TO TYRE MAKERS AT BANGKOK RATES

Article Abstract:

To reduce its excessive natural rubber stock, the State Trading Corporation (STC) plans to sell 9,600 tonnes of natural rubber to tyre manufacturers at prices quoted in Bangkok. STC will introduce a selling scheme for this purpose. Under the scheme, it will announce the previous week's average price for the sale on every Monday. It has fixed a price of $787.47 (minus Rs500) per tonne for the week starting from Monday (June 8) and ending on Friday (June 12). STC also offers credit option up to 50 days at a discounted rate of interest to the advance licence holders. The credit rate will work out to 6.5 percent per annum. (gs)

Comment:

Plans to sell 9,600 tonnes of natural rubber to tire mfrs at prices quoted In Bangkok TO reduce excessive natural rubber stock

Strategy & planning, Tires & Tubes Whsle, Tire and Tube Wholesalers, Tire wholesalers, Article, State Trading Corporation of India Ltd.

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TYRE SECTOR BRAVES AUTO RECESSION, ON ROBUST ROAD

Article Abstract:

Tyre production showed a growth of 9 percent for April-October 1998 even though the automobile industry showed a negative growth. The production of bus and truck tyres fell by 4 percent to 44.2 lakh units in April-October 1998 against 47.77 lakh units in April-October 1997. The production of passenger car tyres increased by 5 percent to 24.16 lakh units from 22.93 lakh units while that of scooter tyres increased 16 percent to 49.30 lakh units. The production of motorcycle units grew by 42 percent to 38.61 lakh units from 27.14 lakh units while that of moped tyres grew by 27 percent to 1.68 lakh units from 1.32 lakh units. (khr)

Production data

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PLANS AFOOT TO WIND UP IRP UNIT OF TYRE CORPORATION

Article Abstract:

The Union industry ministry is thinking of winding up the industrial rubber products division of the ailing Tyre Corporation of India (TCI). A voluntary separation scheme has been announced at the division, which envisages a payment equal to one-and-a-half months' emoluments for each completed year of service. The division has been able to produce materials worth Rs25 lakh per month against a monthly wage bill of Rs35 lakh. (khr)

Comment:

The Union industry ministry is thinking of winding up the industrial rubber products division of the ailing Tyre Corporation of India (TCI).

Organizational history, Tyre Corporation of India

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