(Akron/Tire Review) Cooper Tire & Rubber Co. promoted Douglas Brown, Michael Inbody and Amy Niese to positions as marketing managers. Most recently, Brown was a regional credit manager; Inbody was an advertising manager; and Niese was marketing programme analyst.
Deutsche Bank analysts are expecting Cooper to announce losses of $0.14 per share when the company releases its fourth quarter results. The analysts are already describing the period as “another weak quarter.” Cooper is said to have under-performed the market in recent times. According to the Deutsche Bank analysts, Cooper’s third quarter North American (NA) volume declined 6 per cent compared with a drop of 1 per cent across the market.
Goodyear Tire & Rubber shares fell by as much as 17 per cent yesterday after the company warned raw-material costs will hit its bottom line harder than it originally expected. A number of analysts decreased their stock ratings, with at least one (Deutsche Bank) changing its recommendation to “sell.” Goodyear shares ended the trading day down $3.12 at $15.64 after rising to $19.31 on Monday. Cooper Tire & Rubber Co. also took a blow, loosing $1.30 or 8 per cent, to finish at $14.99.
Cooper Tire & Rubber Company has announced that all necessary government approvals have been received for its transaction to obtain 51 per cent ownership in China’s third-largest Chinese-owned tyre manufacturer.
The Trackdays.com Show – the first-ever trackday-focussed event of its kind in the UK – gets the green flag on Sunday 30 April 2006 at Rockingham Motor Speedway, Northants. Organiser Ian Raybould, of Trackdays.com, said: “There are car shows and there are motorsport shows, but this one is totally focussed on trackdays, trackday and performance products and driving experiences.
Cooper Tire & Rubber Company has named Rodney A Kreinbrink as plant manager for its Albany, Georgia, manufacturing facility. Kreinbrink will oversee the daily operations of Cooper’s 3rd largest plant, which produces about 11.5 million tyres per year and employs almost 1,600 people. Kreinbrink succeeds William Bonner who retired at the end of 2005.
As part of Dunlop’s commitment to a major investment in UK motorsport it has continued to develop its successful partnership with EvoActive, one of the UK’s highest profile trackday operators, into 2006.
(Akron/Tire Review) Cooper Tire & Rubber Co has expanded sizing on some of its performance and light truck/SUV tyres. Three sizes were added to the Cooper Zeon 2XS ultra-high performance line: 215/35R19 Y-rated; 235/35R19 Y-rated; and 275/30R20 W-rated.
The parents of two young women killed in a head-on collision on Florida’s Turnpike are suing Cooper Tire & Rubber Company, alleging the company’s tyre caused a Thanksgiving 2004 wreck that left six dead. According to an associated press report, the lawsuit, in Palm Beach County Circuit Court, seeks more than $15,000 in the deaths of Michelle Seville, 23, and Marsha Seville, 18.
(Akron/Tire Review) Cooper Tire & Rubber Co. announced that its tender offer to purchase up to $175 million in aggregate principal amount of its outstanding 7 ¾ per cent notes due 2009, 7 5/8 per cent notes due 2027, and 8 per cent notes due 2019 expired yesterday at 5:00 p.m., Eastern time.
Hi-Q is leading the way on RunOnFlat tyre technology thanks to an intensive training programme for its fitters. A total of 131 nationwide stores have been put through a special Goodyear RunOnFlat training programme.
(Akron/Tire Review) Cooper Tire & Rubber Co. set the prices for its planned fixed spread tender offer to purchase up to $175 million in aggregate principal amount of its outstanding 7.75 per cent notes due 2009, 7.625 per cent notes due 2027, and 8 per cent notes due 2019.
(Akron/Tire Review) Cooper Tire & Rubber Co has named P Glenn Arbaugh as its new manager of product design. He will be responsible for managing the company’s product design group and support the marketing, product development and mould operations groups.
(Akron/Tire Review) Cooper Tire & Rubber Co announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 December to stockholders at the close of business on 2 December. According to Cooper, this is its 135th consecutive quarterly dividend.
(Akron/Tire Review) Cooper Tire & Rubber Co has named John F. Naftzger manager of information technology for the manufacturer’s Mickey Thompson division. In his new position, Naftzger will be responsible for all IT activities for Mickey Thompson in both the Stow, Ohio, and Corona, California, locations, according to Cooper. Naftzger joined Cooper in 1994 as a systems developer and has been senior systems developer since 2001. He earned a bachelor’s degree in computer science from the University of Findlay in Findlay, Ohio, and an executive MBA from Ashland University in Ashland, Ohio.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
